Emerging markets calendar

LATIN AMERICA

Week of Oct. 9

GERDAU SA:

• Dollar-denominated notes tied to $500 million tender

• Roadshow announced

• Citigroup and Santander are bookrunners

• Tendering for 5Ύ% notes due 2021, 7% bonds due 2020 and 5.893% notes due 2024

• Porte Alegre, Brazil-based steel producer

BANCOLOMBIA SA:

• Up to $1 billion of subordinated tier 2 notes

• Maturity 2027

• Roadshow announced with pricing of potential deal after Oct. 10

• Bookrunners include BofA Merrill Lynch, Citigroup, UBS Securities

• Co-manager Valores Banistmo

• Registered

• Application will be made to list notes on the NYSE

• Medellin, Colombia-based lender

On the Horizon

EMPRESA PROVINCIAL DE ENERGIA DE CORDOBA:

• Up to $100 million of notes

• Proceeds to repay existing debt with wholesale market administrator and for working capital

• Bookrunners include BofA Merrill Lynch and Citigroup

• Rule 144A and Regulation S

• Buenos Aires-based energy company (electricity, oil and gas)

CABLEVISION SA:

• Plans $50 million of class B fixed notes

• To be issued under the company’s $1 billion global notes program

• Argentine cable television company subsidiary

2017

LA RIOJA:

• $200 million notes

• UBS, Puente Hnos SA

• Province in Argentina

GRUPO LOS GROBO:

• Dollar notes

• Buenos Aires-based agribusiness

COSTA RICA:

• $1 billion of 30-year notes

• Deutsche Bank, HSBC.

COLOMBIA:

• Euro notes

• BBVA, Goldman Sachs, JPMorgan

• Securities and Exchange Commission registered

• Includes a make-whole call

• Proceeds for general budgetary purposes

ASIA

On the Horizon

CK PROPERTY FINANCE (MtN) LTD.:

• $5 billion euro medium-note program

• To be issued by CK Property Finance (MTN) Ltd.

• HSBC, BofA Merrill Lynch and Mizuho Securities are the arrangers and dealers

• Hong Kong-based development conglomerate

AGRICULTURAL BANK OF CHINA LTD.:

• Up to RMB 40 billion of tier 2 notes

• To be issued in the China interbank bond market

• Shareholders previously approved issuance of up to RMB 80 billion tier 2 capital instruments

• Beijing-based commercial lender in China, Hong Kong and Singapore

SINOPAC SECURITIES CORP.:

• Up to NT$5 billion of bonds

• One or more maturities of up to five years

• To be sold at par

• Proceeds to replenish working capital and strengthen financial structure

• Taipei, Taiwan-based financial services company

HUA NAN FINANCIAL HOLDINGS CO., LTD.:

• Up to NT$12 billion of bonds in 2017

• Maturities of five and 10 years

• Undewriter Hua Nan Securities

• Proceeds to repay a bond maturing in 2018 and enhance capital structure

• Taipei, Taiwan-based banking and securities company

PUMA ENERGY HOLDINGS PTE. LTD.:

• Minimum of $300 million seven-year, NC-3 notes

• Roadshow scheduled Sept. 20-28

• Bookrunners ANZ, BofA Merrill Lynch, INV, Societe General and Standard Bank

• Rule 144A and Regulation S

• Proceeds earmarked for purchase of outstanding 6Ύ% notes due 2021

• Singapore -based oil and gas products and services company

TENAGA NASIONAL BHD.:

• RM 4 billion 20-year Sukuk

• To be issued through Southern Power Generation subsidiary

• Joint lead managers CIMB Investment Bank and Maybank Investment Bank Bhd,

• Proceeds earmarked for funding project costs

• Kuala Lumpur-based electric utility

SMC GLOBAL POWER CORP.:

• Up to PHP 35 billion of debt securities

• Initial tranche of PHP 25 billion

• Proceeds to refinance the company’s outstanding $400 million issue

• Mandaluyong City, Philippines-based power company subsidiary of San Miguel Corp.

CHINA CONSTRUCTION BANK CORP.:

• Up to RMB 60 billion of domestic preference shares

• Maturities in seven and 15 years

• Proceeds to redeem the company’s 2010 first and second issues of subordinated corporate bonds

• Beijing, China-based bank

WEICHAI POWER CO. LTD.:

• Dollar-denominated perpetual securities

• Proceeds to refinance existing borrowing and for general corporate purposes

• Weifang, China-based diesel engine maker

CHINA NATIONAL BUILDING MATERIAL CO. LTD.:

• Up to RMB 20 billion of corporate bonds

• Beijing-based state-owned building materials enterprise

CHINA ALUMINUM INTERNATIONAL ENGINEERING CORP. LTD.:

• Up to RMB 20 billion of onshore and offshore debt financing

• Maturity of up to 10 years

• Proceeds to be used to meet business operation needs like debt structure and working capital

• Beijing-based engineering company

HT GLOBAL IT SOLUTIONS HOLDINGS LTD.:

• Add on to 7% notes due 2021

• Original $300 million of notes were issued on July 14, 2016

• Joint bookrunners are Deutsche Bank and Standard Chartered Bank

• Rule 144A and Regulation S

• Proceeds will be used for a pre-funding requirement

• Mauritius-based investment holding company

TAISHIN FINANCIAL HOLDING CO.:

• Up to NT$8 billion of bonds in one or two tranches

• Maturities in seven and 15 years

• Proceeds to redeem the company’s 2010 first and second issues of subordinated corporate bonds

• Taipei, Taiwan-based bank holding company

SHINHAN BANK:

• Potential offering of dollar-denominated notes pending roadshow starting Aug. 28

• Investor meetings being arranged by BofA Merrill Lynch, BNP Paribas, HSBC, and MUFG

• Meeting on Aug. 28 in Singapore and in Europe and United States on Sept. 6, concluding in Los Angeles in Sept. 8

• Seoul, South Korea-based lender

LIFESTYLE INTERNATIONAL HOLDINGS LTD.:

• Offering of dollar-denominated senior notes

• To be issued by subsidiary LS Finance (2017) Ltd. and guaranteed by Lifestyle International

• Joint bookrunners are JP Morgan, UBS AG Hong Kong and Bank of China (Hong Kong) Ltd.

• Proceeds for general corporate purposes, including future acquisitions and core business investments

• Hong Kong-based retail operator

VARDHMAN TEXTILES LTD.:

• Up to Rs. 5 billion of committee-approved secured debentures

• Ludhiana, India-based textile producer

BANK OF JINZHOU CO. LTD.:

• Up to RMB 10 billion offshores preference shares

• Proceeds to be treated as additional tier 1 capital

• Jinzhou, China-based lender

IGB REAL ESTATE INVESTMENT TRUST:

• Up to RM 5 billion, 20-year notes

• To be issued through wholly owned special purpose vehicle IGB REIT Capital Sdn. Bhd.

• Lead arranger and manager Hong Leong Investment Bank Bhd.

• Proceeds to finance investments, refinance existing or future borrowings and fund working capital requirements

• Kuala Lumpur-based real estate investment trust

HINDUSTAN COPPER LTD.:

• Possible issue of debentures in a private placements

• Issue to be discussed by company’s board on Aug. 22

• One or more tranches of secured or unsecured debentures may be issued

• Kolkata-based copper producer

CHINA RESOURCES LAND LTD:

• Up to RMB 5 billion in two tranches of medium-term notes

• Including RMB 3.5 billion three-year notes and RMB 1.5 billion five-year notes

• Citic Securities Co. Ltd. and Agricultural Bank of China Ltd. are joint lead underwriters

• Proceeds to be used for development of company projects and additional liquidity

• Hong Kong-based property developer

CHINA NATIONAL CHEMICAL CORP.:

• Dollar-denominated senior bonds (expected: /BBB/A-)

• Roadshow July 5 to July 11 in Asia and Europe

• Will be issued through CNAC (HK) Finbridge Co. Ltd.

• Proceeds to refinance the company’s existing debt and for general corporate purposes

• State-owned chemical company based in Beijing

METALLURGICAL CORP. OF CHINA LTD:

• RMB 3 billion of three-year corporate bonds, plus an over-allotment option for RMB 2 billion

• To be sold at par at a 4% to 5% coupon

• Industrial Securities Co. is lead underwriter

• Proceeds to replenish working capital

• Beijing-based brokerage

ABOITIZ POWER CORP.:

• Plans public offerings for up to PHP 30 billion of fixed-rate bonds in tranches

• Power generation company and subsidiary of Aboitiz Equity Ventures Inc. based in Taguig City, Philippines

DIGITAL CHINA HOLDINGS LTD.:

• Plans to issue up to RMB 1.3 billion of corporate bonds in multiple tranches

• The first tranche will be completed with 12 months, and the remaining tranches are seen being completed within 24 months.

• The Hong Kong-based foreign brand information technology products company is a spinoff from Legend Group

AXIS BANK LTD.:

• Plans to issue up to Rs. 35 billion of series 28 unsecured subordinated perpetual debentures

• Additional tier 1, Basel 3 compliant notes would be issued with a face value of Rs. 1 million each

• Mumbai-based bank

CHINA HUARONG ASSET MANAGEMENT CO., LTD.:

• Proposing to issue up to RMB 20 billion of offshore preference shares

• Preference shares will be sold at or above par

• Proposed issuance is subject to shareholders’ approval at an upcoming meeting

• State-owned asset manager is based in Beijing

ASTRO MALAYSIA HOLDINGS BHD.:

• Up to RM 3 billion medium-term notes

• To be issued through Measat Broadcast Network Systems Sdn. Bhd.

• CIMB Investment Bank Bhd. and RHB Investment Bank Bhd. are joint lead arrangers

• Proceeds to finance licensing costs, purchase equipment, for capital expenditures and refinance any maturing MTNs

• Kuala Lumpur, Malaysia-based satellite television and radio operator

TECHTRONIC INDUSTRIES CO. LTD.:

• Launched up to $500 million medium-term notes

• Citigroup and HSBC are joint arrangers and dealers

• To be distributed under Regulation S

• Program to be listed on the Stock Exchange of Hong Kong Ltd.

• Hong Kong-based electrical and electronic products manufacturing and trading company

HON HAI PRECISION INDUSTRY CO., LTD.:

• Plans to issue up to NT$27 billion of unsecured corporate bonds at par in one or more tranches

• Proceeds will be used to repay debt and for working capital

• Tu-cheng, Taiwan, manufacturer of computer connectors, cable assemblies and enclosures

FAR EASTONE TELECOMMUNICATIONS CO., LTD.:

• Plans to issue up to NT$5 billion of corporate bonds with maturities of up to seven years

• Fixed-rate bonds will be sold at par in one or more public offerings

• Proceeds will be used to repay debt

• Taipei, Taiwan-based telephone company

EUROPE/CENTRAL ASIA

Week of Oct. 2

HUNGARY:

• Euro-denominated benchmark of 10-year notes

• Talk guided to mid-swaps plus 110 bps

• Regulation S

• BNP Paribas, Citigroup, Deutsche Bank and ING are joint lead managers and bookrunners

• Concurrent capped tender offer of dollar notes due 2018, 2019, 2020, 2021 and 2023

On the Horizon

NITROGENMUVEK ZRT:

• Offering of unsecured, fixed-rate notes

• Regulation S

• Raiffeisen Bank International AG mandated to conduct investor meetings

• Proceeds to refinance debt and for general corporate purposes

• To be admitted to trading on the Euro MTF of the Luxembourg Stock Exchange

• Veszprem, Hungary-based producer of ammonia and fertilizers

AFRICA/MIDDLE EAST

Week of Oct. 2

TURKIYE IS BANKASI AS:

• Add-on to 6 1/8% notes due 2024

• Talked at 5 Ύ% area, tightened from 5 7/8% area

• Original $750 million issue priced April 2017

• Turkey’s largest bank

Week of Oct. 9

NIGERIA’S FIDELITY BANK PLC:

• Benchmark of five-year dollar notes

• Pricing in connection with cash tender of $300 million 2018 notes

• Citigroup, Renaissance Securities (Nigeria), Standard Chartered Bank of South Africa are bookrunners

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