Emerging markets calendar: South Korea's Posco to roadshow deal

MARCH

POSCO: Dollar-denominated bonds; Barclays Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Merrill Lynch (joint books); Rule 144A/Regulation S; change of control put at 101; proceeds for capital expenditures, purchase of raw materials; Korean steel company; pricing following March 16 to March 18 roadshow.

ON THE HORIZON

EGYPT: Egyptian pound-denominated eurobonds (Ba1/BB+/BB+); HSBC, Merrill Lynch (joint books); pricing originally expected in 2008.

LOCAL CURRENCY

AMBANK BHD.: S$425 million 10-year stapled notes (BB/BB); BNP Paribas, AmBank (joint books); proceeds to fund the bank's growth; Kuala Lumpur, Malaysia-based retail and commercial bank.

BANCO DE ORO UNIBANK: PHP 2.5 billion 7½% 10-year unsecured subordinated notes qualified as tier 2 capital; notes callable in the fifth year; proceeds to support planned business expansion; offering from March 9 to March 13; settlement March 20; Manila-based commercial bank.

BANK OF COMMUNICATIONS CO. LTD.: Up to 5 billion yuan bonds, maturity of one to three years; proceeds for granting loans, general working capital and general corporate purposes; Shanghai-based retail and commercial bank.

CHINA COMMUNICATIONS CONSTRUCTION CO. LTD.: Up to 15 billion yuan bond issue; five- to 15-year maturity; interest rate not to exceed central bank benchmark lending rate; proceeds to refinance debt; Beijing-based infrastructure and ports operator.

CHINA SHIPPING DEVELOPMENT CO. LTD.: RMB 5 billion 10-year medium-term notes; proceeds to fund building vessels, to repay bank loans; Shanghai-based shipping company.

SAN MIGUEL BREWERY INC.: PHP 20 billion of fixed-rate bonds in three series; three-year series A bonds, five-year series B bonds, 10-year series C bonds; Mandaluyong City, Philippines-based brewer; initial guidance at 250 bps to 325 bps over government bonds.

ROADSHOWS

March 16 - March 18: POSCO: Dollar-denominated bonds; Barclays Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Merrill Lynch (joint books)

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