Emerging markets calendar

SEPTEMBER

PETROBRAS INTERNATIONAL FINANCE CO. (PETBRA): Benchmark size bond 10-year bond offering (Ba2); Morgan Stanley, Bear Stearns & Co.; Registered; subsidiary of Brazil's state oil company; expected to price mid-day Wednesday; price guidance 7 7/8%- 8%.

PT MITRA GLOBAL TELEKOMUNIKASI INDONESIA (MGTI): $260 million in three tranches (/B+): $100 million due 2007, $140 million due 2010 and $20 million due 2011; Deutsche Bank Securities, UBS Investment Bank; to refinance outstanding debt and repay shareholder loans; telecommunications provider which owns a fixed-line telecommunications network in Central Java, Indonesia; roadshow in Singapore, Hong Kong during Aug. 30 week, London Sept. 5 week.

TELEKOM MALAYSIA BHD.: Benchmark global bond due 2014 (long-term foreign currency ratings A-/Baa2); Deutsche Bank Securities, UBS Investment Bank; Commerce International Merchant Bankers; Regulation S; Kuala Lumpur-based provider of voice and data services; roadshow in Singapore on Sept. 9, then Hong Kong Sept. 10, London Sept. 13; pricing expected early week of Sept. 13.

INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA): $300 million bond due 2009 (A2); Goldman Sachs, HSBC, JP Morgan; Regulation S only; Hong Kong-based unit of Industrial and Commercial Bank of China; roadshow in Asia from Sept. 6 to Sept. 8.

UNION BANK OF THE PHILIPPINES: $100 million to $150 million three-year senior bonds (Ba2); UBS, Credit Suisse First Boston; roadshow in Philippines from Sept. 6 to 7, Hong Kong on Sept. 9, Singapore on Sept. 10; controlled by Aboitiz Group, a Filipino-owned management and investment company.

RUSSIAN STANDARD BANK: $200 million three-year fixed-rate loan participation notes (Ba3/B); ING, Dresdner Kleinwort Wasserstein; Regulation S; roadshow in Singapore on Sept. 8, Hong Kong on Sept. 9, Manila on Sept. 10, Munich and Frankfurt on Sept. 13, Geneva and Zurich on Sept. 14, London on Sept. 15; pricing expected on Sept. 15.

BANK OF MOSCOW: $200 million three- to five-year loan participation notes; ABN Amro, Merrill Lynch; Regulation S; roadshow starts Sept. 2 in Hong Kong, Sept. 3 in Singapore and in Europe during the week of Sept. 6.

ENERGORYNOK (UKRAINE) $300 million debut international bond with three- or five-year maturity; JP Morgan; Regulation S; non-callable; Ukrainian state-owned power company.

CHINA DEVELOPMENT BANK: $500 million dollar-denominated via Goldman Sachs, Merrill Lynch, Morgan Stanley; €500 million euro-denominated notes via BNP Paribas, HSBC Holdings, UBS AG; Chinese state-owned bank is largest issuer of non-government domestic bonds.

PT INDOFOOD SUKSES MAKMUR: $250 to $300 million bonds; to refinance company's bond due 2007; world's largest instant noodle maker; based in Jakarta, Indonesia.

REPUBLIC OF CHINA: $1 billion dollar- and euro-denominated bonds.

ROSBANK: $250 million five-year eurobond; Credit Suisse First Boston, Merrill Lynch; pricing expected in September.

SOUTH KOREA: $1 billion sovereign bonds due 2014; Barclays, Citigroup, Deutsche Bank and JP Morgan; expected to price in September; Singapore, Hong Kong, London, New York roadshows to start week of Aug. 30 or Sept. 6.

THIRD QUARTER:

KAZKOMMERTSBANK: $300 million five-year notes (Baa2/BB-); Regulation S; largest bank in Kazakhstan.

RELIANCE INDUSTRIES: $750 million bond due 2009; Credit Suisse First Boston, ABN Amro; diversified group of Indian manufacturing companies; pricing expected in third quarter.

FOURTH QUARTER:

JSC TRANSCREDITBANK: $120-150 million eurobonds (long term credit rating B-); Regulation S; to finance investment projects; Moscow-based bank for Russian Railways; debut global issue; expect in October or November.

PT BANK MANDIRI: $150 million eurobond (B2/B); to refinance maturing debt; based in Jakarta, Indonesia; state-owned lender; October or November business.

EMERGING MARKET OFFERINGS ON THE HORIZON

ALROSA CO. LTD: $300 million seven-to 10 eurobond (B3/B); JPM Morgan, ING Financial Services; to refinance debt, including inaugural bond offering from 2003; Moscow-based diamond company.

BANCO DO BRASIL SA: $350 million 10-year subordinated notes (Baa1); Credit Suisse First Boston, BB Securities; Rule 144A/Regulation S; non-callable for life (postponed Aug. 9).

PT BANK INTERNASIONAL INDONESIA: $150 million bonds; controlled by Singapore's state-owned investment company Temasek Holdings Pte.

BELIZE: $200 million minimum bonds; (Ba3/B+); Deutsche Bank Securities, Morgan Stanley.

EAST LINE CAPITAL SA: Eurobonds (company ratings B3/B-); Isle of Man holding company owns a number of businesses that operate predominantly in Russia; holding investor meetings in selected European centers; deal expected to come later this year.

GENTING BHD: $300 million bonds with five or 10-year maturity; Barclays Capital, Citigroup; Kuala Lumpur, Malaysia-based diversified company.

HALYK BANK OF KAZAKHSTAN: $200 million five-year senior notes (Ba1/B+); Credit Suisse First Boston, JP Morgan; Regulation S; Kazakhstan bank; expected in Sept.

HANARO TELECOM: $600 million notes; South Korea's second largest high-speed Internet provider; expected to price this year.

HONG LEONG BANK: $150 million bond offering; Malaysian financial services provider.

HUNGARY: bond issuance in second half; denomination and timing are to be determined.

HUTCHINSON WHAMPOA LTD.: bond offering; Hong Kong-based telecommunications conglomerate.

HYUNDAI MOTOR CO.: $150-$200 million offshore floating-rate bonds (Ba1/BB), maturity to be determined; to repay debt; South Korean auto maker; pre-marketing.

INDIAN RAILWAY FINANCE CORP.: $200 million five- to seven- year floating-rate notes; financing vehicle for state-owned Indian Railway.

INTERGAZ: $150 million five-year eurobond (Ba2/BB); ABN Amro; JP Morgan; Intergaz Central Asia is part of Kazakhstan's state oil and gas holding KazMunaiGas.

STATE OF ISRAEL: €400 million bond issue (A2/A-/A-); Deutsche Bank, Morgan Stanley; Regulation S.

JARDINE MATHESON: $500 million 10-year million deal; HSBC Bank, UBS Securities; Hong Kong-based diversified trading company.

KAZMUNAIGAZ: $250 eurobond; ABN Amro, JP Morgan; Kazakhstan's state oil and gas company.

KHAZANAH NASIONAL BHD: tap overseas capital markets; dollar-denominated or local currency- denominated bond offering; Malaysian government investment company.

KOREA ELECTRIC POWER CORP: $300 million bonds; Seoul-based power company.

KOREA HIGH SPEED RAIL CONSTRUCTION AUTHORITY: $300 to $500 million bonds; this year.

PT KRAKATAU: $400 million bond, tenor and structure to be determined; to fund expansion of the steel business; Jakarta, Indonesia steel manufacturer; 2004 business.

LI & FUNG LTD.: $300 million bonds; for future acquisitions; Hong Kong-based trading and supply chain management company.

OAO LUKOIL: $500 million 10-year eurobonds (BB) as part of 2004 borrowing program; Credit Suisse First Boston, Deutsche Bank Securities; Rule 144A/Regulation S; Russian oil company.

MANILA ELECTRIC: $200 to $250 million five- to seven-year notes; refinance existing debt; price this summer; largest power distributor in the Philippines.

OAO MEGAFON: $375 million eurobonds, Citibank and ING; pending shareholder approval; Regulation S; Russia's third largest mobile phone company.

MEZHPROMBANK: $200 billion eurobond (B-); pricing expected at end of year; one of 20 major banks in Russia.

CITY OF MOSCOW: €450 million five- to seven-year notes; UBS Investment Bank, Citigroup, Dresdner Kleinwort Wasserstein; Regulation S.

MOSCOW NORODNY BANK: approximately $200 million three- to five-year floaters (Baa3/BBB-); Barclays Capital, ING; roadshow in Asia and Europe; only Russian-owned British Bank in the United Kingdom.

NAFTOGAZ: $700 million five- to seven-year eurobond; ABN Amro, UBS Securities; Regulation S; Ukrainian government-owned oil and gas company.

NORILSK NICKEL: $500 million bonds; Citigroup, Morgan Stanley; Regulation S; Russia's largest metals producer.

OBEDINENNYE MASHINOSTROITELYNE ZAVODY: $100 million eurobond; Russian engineering group; expected in 2005.

GOVERNMENT OF PERU: $1 billion bonds; repay Paris Club debt; expected in early 2005.

PETROKAZAKHSTAN: $150 million 10-year notes; JP Morgan; Regulation S; based in Calgary, Canada; vertically integrated, international energy company; largest supplier of refined products in Kazakhstan and owns one of the three refineries in that country.

PHILIPPINE NATIONAL BANK: $140 million step-up subordinated bonds due 2014 (Ba1); JP Morgan; roadshow originally completed in December 2003, deal rescheduled; price talk 9%-9¼%.

ROMPETROL GROUP NETHERLANDS NV: €250 million senior notes (-/B-/B-), three- to seven-year maturity anticipated; JP Morgan; to finance infrastructure investments and repay subsidiaries' debt; vertically integrated Romanian private oil company, based in Bucharest; (postponed).

PROMSVYAZBANK: $200 million eurobond (-/-/B); ING, UBS Securities; to fund increased lending; Russian bank.

REPUBLIC OF ROMANIA: €600 million 10-year notes (Ba3/BB); Regulation S; expected in the first half.

RUSSIAN RAILWAYS: $500 million to $1 billion five- to 10- year eurobond; state-owned rail; pricing in 2005.

SEVERALMAZ: add-on to existing $100 million eurobond due 2006; ING; Regulation S; Arkhangelsk, Russia diamond company.

SRI LANKA: bond offering up to $400 million; for budget deficit.

SRI LANKA TELECOM: bond offering due 2009; joint venture between the Government of Sri Lanka and NTT of Japan.

STATE BANK OF INDIA: $500 million bonds; India's largest commercial bank, headquartered in Mumbai.

TATA MOTORS: $500 million long-term bonds; to fund capital expenditures, product development and refinancing acquisition of Daewoo; Indian auto manufacturing company.

TECHTRONIC INDUSTRIES CO.: $300 million seven- or 10-year global bonds; to help pay for the acquisition Sweden's Atlas Copco AB for $626.6 million; Hong Kong-based maker of power tools.

TRANSPORTADORA DE GAS DEL PERU: $275 million bond offering; to finance the construction of pipelines across the Andes to bring gas to Lima; unit of Buenos Aires-based Techint.

TURKEY: eurobond

UKRSOTSBANK: $100 million three-year bonds (B2); ABN Amro; Regulation S; Kiev, Ukraine-based bank.

UKREXIMBANK: minimum $100 million three- to five- year bond offering (Ba2//B+), UBS Investment Bank, Dresdner Kleinwort Wasserstein (joint books); Regulation S; state export-import bank of Ukraine.

YUZHMASH: $130 million five-year bond offering (B1/B); Regulation S; government guaranteed; Ukrainian rocket manufacturer.

ROADSHOWS:

Week of Aug. 30 - week of Sept 5: PT MITRA GLOBAL TELEKOMUNIKASI INDONESIA: $260 million in three tranches (/B+): $100 million due 2007, $140 million due 2010 and $20 million due 2011; Deutsche Bank Securities, UBS Investment Bank

Sept. 2 - Sept. 10: BANK OF MOSCOW: $200 million three- to five- year loan participation notes; ABN Amro, Merrill Lynch

Sept. 6 - Sept. 8: NDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA): $300 million bond due 2009 (A2); Goldman Sachs, HSBC, JP Morgan

Sept. 5 - 10: UNION BANK OF THE PHILIPPINES: $100 million to $150 million three-years senior bonds (Ba2); UBS, Credit Suisse First Boston

Sept. 8 - Sept. 15: RUSSIAN STANDARD BANK: $200 million three-year fixed-rate loan participation notes (Ba3/B); ING, Dresdner Kleinwort Wasserstein

Sept. 8 - Sept 13: TELEKOM MALAYSIA BHD.: Benchmark global bond due 2014 (long-term foreign currency ratings A-/Baa2); Deutsche Bank Securities, UBS Investment Bank; Commerce International Merchant Bankers

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.