Emerging markets calendar: Kookmin to bring covered bonds

MAY

GOVERNMENT OF BERMUDA: $200 million senior notes (NAIC 1) in five-year, seven-year and 10-year bullet tranches via private placement; JP Morgan; price talk 400 bps area over Treasuries.

KOOKMIN BANK: Asset-backed covered bonds (A2/A/A+); Citigroup, HSBC (joint books); Rule 144A/Regulation S; Seoul-based retail and commercial lender; roadshow in Singapore and Los Angeles on April 29, in Hong Kong and Boston on April 30 and in London and New York on May 1.

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.

EDENOR: Ps. 150 million five-year floating-rate notes; Banco Comafi SA, Macro Securities SA (joint books); securities sold at par, will pay interest at the Private Badlar rate plus a margin set at pricing; from $600 million medium-term note program; Buenos Aires-based electricity distribution company.

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