Emerging markets calendar: Gazprom, Telemar roadshowing benchmark deals

APRIL

OAO GAZPROM: $2 billion bonds (Baa1/BBB/BBB); Credit Suisse; Rule 144A, Regulation S; Moscow-based energy firm roadshow in New York and London began April 13.

TELEMAR NORTE LESTE SA: $750 million 10-year senior unsecured notes (Baa3//BBB-); Citigroup (left books), Banco Itau, Banco Santander, BB Securities, Banco Bradesco BBI (joint books); Rule 144A, Regulation S; proceeds to refinance outstanding debt and for general corporate purposes; Rio de Janeiro-based telecommunications firm; roadshow in Boston, New York, London, the U.S. west coast and the Philadelphia area from April 13 to April 16; initial guidance at 9¾% to 10%.

APRIL 20 WEEK

JBS USA, LLC/JBS USA FINANCE, INC.: $400 million senior notes due 2014 (mid-single B ratings expected); J.P. Morgan Securities Inc., Banc of America Securities LLC (joint), ING, Rabobank, BMO Securities, Credit Suisse (co's); Rule 144A for life/Regulation S; non-callable; to repay inter-company debt and credit facilities, and for general corporate purposes; Greeley, Colo., beef and pork processor; roadshow started April 14; investor call 12:30 p.m. ET Thursday; pricing early April 20 week.

LOCAL CURRENCY

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.

CELLCOM ISRAEL LTD.: NIS 300 million series D debentures; local market only; Netanya, Israel-based telecom provider.

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.

ABOITIZ POWER CORP.: Up to PHP 1.5 billion fixed-rate retail bonds; three-year tranche, five-year tranche; BDO Capital & Investment Corp., BPI Capital Corp., First Metro Investment Corp. and ING Bank NV, Manila Branch (joint books); PHP 1.5 billion greenshoe; proceeds to partially finance the 40% down payment for the company's acquisition of the Tiwi-Makban geothermal facilities; Cebu City, Philippines-based hydroelectric power holding company.

ROADSHOWS

Started April 13: OAO GAZPROM: $2 billion bonds (Baa1/BBB/BBB); Credit Suisse

April 13 to April 16: TELEMAR NORTE LESTE SA: Dollar-denominated benchmark-sized 10-year senior unsecured notes (Baa3//BBB-); Citigroup, Banco Itau, Banco Santander, BB Securities, Banco Bradesco BBI (joint books)

Started April 14: JBS USA, LLC/JBS USA FINANCE, INC. $400 million; J.P. Morgan Securities Inc., Banc of America Securities LLC

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