Emerging markets calendar: Eletrobras to price up to $1 billion

WEEK OF JULY 20

CENTRAIS ELETRICAS BRASILEIRAS SA: Up to $1 billion 10-year senior unsecured fixed-rate bullet notes (/BBB-/BBB-); Credit Suisse; Rule 144A/Regulation S; proceeds for general corporate purposes; Rio de Janeiro-based, government-owned electricity provider; roadshow on July 21 in London, U.S. west coast, on July 22 in New York, Boston.

DOLPHIN ENERGY LTD.: 10-year bonds (Aa2/AA/AA); BNP Paribas, RBS; Abu Dhabi-based, government-run energy firm; guidance expected July 20 week.

PE PAPER ESCROW GMBH (SAPPI): $500 million equivalent senior secured notes due 2014 (expected ratings Ba2/BB); JP Morgan, Calyon Securities, Citigroup, HSBC, RBS Securities (joint), KBC, Natixis Bleichroeder (co's); non-callable for three years; also new €650 million credit facility; to pay off near-term debt maturities; South African coated paper producer; investor call July 21.

ON THE HORIZON

GRUPO HERDEZ SA de CV: $50 million senior notes with seven-year final maturity and five-year average life; JP Morgan; private placement; Mexico City-based food processing company.

HONG KONG MORTGAGE CORP.: Benchmark sized dollar-denominated bonds (AA+); HSBC, JP Morgan; on the road in Asia through July 23; government-controlled buyer of home loans.

KOREA NATIONAL OIL CORP.: Five-year bonds (A2//); Asian Development Bank, Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, Deutsche Bank, Korea Development Bank (joint books); Anyang, South Korea-based energy firm.

NOVOLIPETSK STEEL: $2 billion bond; Deutsche Bank, Bank of America Merrill Lynch (joint books); Lipetsk, Russia-based steelmaker.

LOCAL CURRENCY

BANK OF RAJASTHAN LTD.: Rs. 500 million series 7 unsecured non-convertible redeemable subordinated tier 2 bonds; Jaipur, India-based bank.

PETROCHINA CO. LTD.: RMB 26 billion medium-term notes; Beijing-based energy company.

REGIONAL CONTAINER LINES PCL: 5 billion baht five-year unsecured unsubordinated debentures; Bangkok-based shipping company.

SABESP: R$600 million 180-day promissory note; BB Banco de Investimento SA (lead); Caixa Economica Federal, HSBC Corretora de Titulos e Valores Mobiliarios SA, Banco Votorantim SA (co-managers); Sao Paulo, Brazil-based utility

ROADSHOWS

Ending July 23: HONG KONG MORTGAGE CORP.: Benchmark sized dollar-denominated bonds (AA+); HSBC, JP Morgan

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