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Published on 10/6/2010 in the Prospect News Emerging Markets Daily.

Emerging markets calendar

OCTOBER 4 WEEK

GRUPO FERTINAL SA DE CV: $200 million to $250 million five-year notes; UBS; roadshow ended Sept. 22; whispers originally at 12%, then revised to 13½%; Mexico City-based phosphate fertilizer producer.

OCTOBER 11 WEEK

RELIANCE HOLDING USA LTD: Dollar-denominated benchmark notes due 2020 and 2040; Bank of America Merrill Lynch, Citigroup, HSBC, RBS; Rule 144A/Regulation S; guaranteed by India-based parent Reliance Industries Ltd.; roadshow started Oct. 6.

CHINA MEDICAL TECHNOLOGIES INC.: Up to $200 million senior notes due 2015 (/B+/B+); Deutsche Bank Securities, Standard Chartered Bank; non-callable for three years; Rule 144A/Regulation S; to redeem, repay or repurchase the company's convertible notes due 2011; Beijing-based medical device and diagnostics company.

POSCO: Dollar-denominated global bonds of up to $700 million; Pohang, South Korea-based integrated steel producer.

EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE SA (EDENOR): Minimum $150 million 9¾% notes due 2022 as part of concurrent exchange and tender offers; Deutsche Bank, JPMorgan, Standard Bank; pricing expected near Oct. 15; Argentina-based electricity producer.

OCTOBER 18 WEEK

ISLAMIC DEVELOPMENT BANK: $1 billion sukuk offering; CIMB, Citigroup; HSBC, Standard Chartered; Regulation S; roadshow Oct. 12-20; proceeds to increase lending to member states coping with economic crisis; Jeddah, Saudi Arabia-based financial institution created to help economic development in 56 member countries.

CEAGRO AGRICOLA LTDA.: $100 million notes due 2016; Jefferies; roadshow Oct. 5 to Oct. 15; Sao Paulo-based soft-commodities trading company.

OCTOBER

IXE BANCO SA: 10-year tier 1 junior subordinated bonds (B/B+); expected to be $100 million to $120 million in size; talked at 9¼% to 9¾%; retail bank based in Mexico City.

SM INVESTMENTS CORP: Benchmark-sized offering of dollar notes with coupon of at least 5.2% due 2017 as part of exchange offer; Citigroup, HSBC, BDO Capital & Investment; pricing expected Oct. 6; Pasay, Philippines-based business conglomerate and developer with interests in retail, mall operations and banking.

YAPI KREDI: $750 million senior unsecured loan participation notes due 2015 (/BB/BBB-); Citigroup, Deutsche Bank, Unicredit; talked to yield 5.1875% to 5º%; launched at 5.1875%; Rule 144A/Regulation S; commercial bank based in Istanbul, Turkey.

YASAR HOLDING AS: Dollar denominated notes due 2015 (expected rating: //B); Barclays Capital; Regulation S only; to fund a senior loan to Yasar by Barclays bank; roadshow started Sept. 20 in Germany, Switzerland, Holland, London; Turkey-based business conglomerate.

CENTRAL CHINA REAL ESTATE LTD: Senior notes; Deutsche Bank, ING, Nomura; Rule 144A/Regulation S; proceeds for general corporate purposes and to fund new property projects, including construction costs and land premium; roadshow starting Oct. 8; subject to market conditions; Hong Kong-based developer.

BANCO DE CHILE: Dollar-denominated notes; Santiago-based lender.

NEUQUEN PROVINCE: $200 million notes; proceeds for repayment of debt; province of Argentina.

TELEMAR NORTE LESTE: Up to R$1 billion in notes; shareholders vote on Oct. 20; proceeds for general corporate purposes, including repayment of short-term debt; Rio de Janeiro-based telecommunications company.

GAZPROMBANK: $400 million to $500 million add-on to 6% notes due Dec. 15, 2014; yield set at 6.1%; Barclays, JPMorgan; Regulation S only; Moscow-based joint stock bank of the gas industry and a subsidiary of Russian energy company Gazprom.

AB BANKAS SNORAS: Possible euro-denominated offering of notes; Commerzbank AG; roadshow in Europe started Sept. 13; lender based in Vilnius, Lithuania.

CORPORACION NACIONAL DEL COBRE DE CHILE (CODELCO): Planned issue of up to $1.8 billion in bonds; proceeds for general corporate purposes and for copper projects; state-owned copper company based in Santiago, Chile.

PETROLEOS DE VENEZUELA SA (PDVSA): Planned $3 billion bond; Caracas, Venezuela-based state-owned oil company.

PT PERUSAHAAN LISTRIK NEGARA (PLN): Possible $1 billion 10-year notes; pricing expected in 2011; Indonesian state-owned electric company.

KOREA NATIONAL OIL: Dollar-denominated benchmark notes; oil and gas company based in Anyang, South Korea.

NIGERIA: $500 million bond; Barclays, FBN Capital.

SLOVAK REPUBLIC: Benchmark euro bonds due 2025; HSBC, SG CIB, Tatra Banka, Unicredit; Regulation S only; proceeds to enhance liquidity position and improve debt maturity profile.

ON THE HORIZON

PKO BANK POLSKI SA: Five-year notes; HSBC, Societe Generale, PKO; Warsaw, Poland-based lender.

MEXICO: $1.8 billion-equivalent samurai bonds; Nomura, Misubishi UFJ, Mizuho; pricing expected in October.

JORDAN: $500 million bonds due 2015; Arab Bank, Credit Suisse, HSBC, JPMorgan.

SEVERSTAL: Planned dollar benchmark notes; Barclays, Goldman Sachs, RBS; roadshow starting Oct. 7; steel and mining company based in Cherepovets, Russia.

SRI LANKA TELECOM PLC: Up to $125 million in bonds; proceeds to fund expansion plans; telecommunications service provider based in Colombo, Sri Lanka.

BANCO CREDITO E INVERSIONES: $200 million five-year notes; BNP Paribas, JPMorgan; Rule 144A/Regulation S; lender based in Santiago, Chile.

KENYA ELECTRICITY GENERATING CO. LTD. (KENGEN): Planned $1 billion bond issue; proceeds to finance $4.5 billion expansion plans; power producer based in Nairobi, Kenya.

CORPORACION FINANCIERA DE DESAROLLO (COFIDE): Planned issue of $250 million bonds; lender based in San Isidro, Peru.

E-LAND FASHION CHINA HOLDINGS LTD.: $200 million senior unsecured notes due 2013 (Ba2/BB-); Morgan Stanley; to fund capital expenditures and expand network; delayed; Shanghai-based women's apparel company.

INDONESIA: Planned sukuk offering worth $650 million; Citigroup, HSBC, Standard Chartered; delayed until 2011.

TRANSCREDITBANK: Up to $400 million three-year notes; JPMorgan, BNP Paribas; pricing expected before the end of 2010; Moscow-based commercial bank and subsidiary of JSC Russian Railways.

SABIC CAPITAL: Planned offering of five-year senior unsecured notes (expected ratings A1/A+/A+); JPMorgan, HSBC, RBS; Regulation S only; talked at mid-swaps plus 175 basis points; proceeds to refinance debt; delayed; petrochemical, fertilizer and metals conglomerate 70%-owned by the Kingdom of Saudi Arabia and based in Riyadh.

ZAMBIA: Planned issue of $1 billion bonds; proceeds for infrastructure improvements and power plant construction.

GULF INVESTMENT BANK: Expected dollar-denominated bonds or sukuk offering; Barclays Capital, GIB Financial, HSBC, UBS; timing and structure to be determined.

URUGUAY: Planned $1 billion issue of bonds, possible 20-year maturity.

ROADSHOWS

Started Sept. 13: AB BANKAS SNORAS: Possible euro-denominated offering of notes; Commerzbank AG.

Sept. 16-22: GRUPO FERTINAL SA DE CV: $200 million five-year notes; UBS.

Started Sept. 20: YASAR HOLDING AS: Dollar-denominated notes due 2015; Barclays Capital.

Started Sept. 22: CHINA MEDICAL TECHNOLOGIES INC.: $175 million notes due 2015 (/B+/B+); Deutsche Bank Securities, Standard Chartered Bank..

Oct. 5-15: CEAGRO AGRICOLA LTDA.: $100 million notes due 2016; Jefferies; Sao Paulo-based soft-commodities trading company.

Started Oct. 6: RELIANCE HOLDING USA LTD.: Dollar-denominated benchmark notes due 2020 and 2040; Bank of America Merrill Lynch, Citigroup, HSBC, RBS.

Starting Oct. 7: SEVERSTAL: Dollar benchmark notes; Barclays, Goldman Sachs, RBS.

Starting around Oct. 8: CENTRAL CHINA REAL ESTATE LTD: Senior notes; Deutsche Bank, ING, Nomura.

Oct. 12-20: ISLAMIC DEVELOPMENT BANK: $1 billion sukuk offering; CIMB, Citigroup; HSBC, Standard Chartered.


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