Emerging markets calendar: Indonesia to roadshow benchmark sovereign

JANUARY

INDONESIA: Benchmark-sized sovereign bonds (Ba3/BB-/BB-); Barclays, HSBC, Lehman Brothers (joint books); Rule 144A/Regulation S; roadshow Jan. 8 to Jan. 11.

UNITED TEST AND ASSEMBLY CENTRE LTD.: $1.1 billion loan and bonds (B2/B+): $625 million Libor plus 312.5 bps term loan B, price talk 95.00 to 96.00, $275 million senior cash-pay notes due 2015, non-callable for four years, price talk 11% to 11¼%, $200 million senior PIK notes due 2015, non-callable for four years, price talk 150 bps over the cash-pay notes; JP Morgan, Merrill Lynch, ABN Amro; to finance LBO; Singapore-based semiconductor testing and assembly company; pricing expected Thursday.

USINAS SIDERURGICAS DE MINAS GERAIS SA: $400 million 10-year bullet bond (BBB-/BBB-); JP Morgan, UBS (joint books); Rule 144A/Regulation S; make-whole call at Treasuries plus 50 bps; Belo Horizonte, Brazil-based steel producer; roadshow week of Jan. 7.

ON THE HORIZON

AGILE PROPERTY HOLDINGS LTD.: Up to $400 million senior notes (Ba3/BB) in fixed- and floating-rate tranches; HSBC; Rule 144A/Regulation S; to finance new and existing projects; Hong Kong-based property developer; roadshow, started Nov. 5 to include Asia, Europe and United States; pricing originally expected early Nov. 12 week.

BANK MANDIRI: $300 million three-year bonds; originally expected in October or November; Jakarta, Indonesia-based commercial and retail bank.

BMCE: Euro-dominated 10-year fixed-rate bonds; non-callable for five years; Casablanca, Morocco-based commercial and investment bank.

CORPORACION ANDINA DE FOMENTO: Three-year samurai bonds; Nomura Group; Caracas, Venezuela-based development bank; initial guidance yen Libor plus 30 to 37 bps.

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

EMPRESA DE TELECOMUNICACIONES DE BOGOTA: Bond issuance; Merrill Lynch, Deutsche Bank (joint books); Bogota-based telecom provider.

INDUSTRIAL BANK OF KOREA: ¥50 billion senior unsecured bonds (Aa3/A/) in two-year and five-year tranches; JP Morgan, Mizuho Securities, UBS (joint books); Seoul-based commercial and retail bank.

JEBEL ALI FREE ZONE FZE: $1.5 billion to $2 billion conventional dollar bonds and dirham-denominated floating five-year sukuk (A1/A+); Barclays, Deutsche Bank, Dubai Islamic Bank, Lehman Brothers (joint books); Dubai-based trade zone authority; roadshow from Nov. 11 to Nov. 16.

KOOKMIN BANK: Up to $300 million five-year bonds (Aa3/A/); Barclays Capital, Citigroup, Merrill Lynch (joint books); Seoul-based commercial and retail lender.

LITHUANIA: Benchmark-sized euro-dominated bonds (//A); Societe General, UBS (joint books).

METRO COUNTRY CLUB: $110 million private placement deal in two tranches; $75 million six-year senior secured tranche (//B-) and a $35 million seven-year subordinated payment-in-kind tranche; Stephens; Juan Dolio, Dominican Republic-based real estate developer; initial guidance at 12% for senior secured tranche, 13½% for subordinated tranche.

QUEZON POWER LTD.: $100 million subordinated notes; Manila, Philippines-based energy provider.

ROMANIA: €500 million 10-year eurobond; Credit Suisse, UBS, Eurobank EFG (joint books); planned in the first half of 2008.

JSC FEDERAL GRID CO.: Benchmark-sized five-year ruble-denominated notes (Baa1/BB+); Barclays; Regulation S; Moscow-based long-haul energy supplier; roadshow Nov. 8 in the Netherlands, Nov. 9 in Germany, Nov. 10 in London.

SISTEMA JSFC: 6 billion ruble bond; VTB Bank, Rosbank (joint books); proceeds for refinancing, future investments; Moscow-based conglomerate with holdings in telecommunications and technology.

ROADSHOWS

Week of Jan. 7: USINAS SIDERURGICAS DE MINAS GERAIS SA: $400 million 10-year bullet bond; JP Morgan, UBS (joint books)

Jan. 8 to Jan. 11: INDONESIA: Benchmark-sized sovereign bonds; Barclays, HSBC, Lehman Brothers (joint books)

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