Emerging markets calendar

WEEK OF NOV. 8

ALROSA FINANCE SA: Benchmark-sized offering of dollar-denominated bonds due 2014; JP Morgan, ING; Rule 144A/Regulation S; to refinance debt; Russian diamond mining company; roadshow started Oct. 28.

STATS CHIPPAC LTD.: $165 million seven-year notes; Rule 144A/Regulation S (Ba2/BB); to fund tender for ChipPac International Co. Ltd.'s $165 million 12¾% senior subordinated notes due 2009; Deutsche Bank Securities dealer manager, offer expired Oct. 4; provider of semiconductor packaging design, assembly, test and distribution solutions; headquartered in Singapore and Fremont, Calif.; roadshow started Nov.1 in Kong Hong, Singapore on Nov. 2, U.S on Nov. 4.

NOVEMBER

WOORI BANK: $300 million subordinated bonds; pricing expected mid-November; Seoul, Korea-based financial institution.

KOREA WATER RESOURCES CORP.: $150 million global bonds due 2014; Citigroup, UBS Investment Bank; company oversees South Korea's water resources; pricing is expected early November.

ISLAMIC REPUBLIC OF PAKISTAN: $500-$700 million Islamic bond due 2009; Citigroup, HSBC; expected to launch in late November.

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

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.

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.

EMERGING MARKET OFFERINGS ON THE HORIZON

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

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

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.

HANARO TELECOM: $600 million notes (//BB-); 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.

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.

PT INDONESIAN SATELLITE CORP. TBK (INDOSAT): To issue bonds in 2005 to raise funds for network expansion; considering yankee bond and commercial loan; telecommunications provider based in Jakarta.

KAZAKHMYS: $240 million bonds; Credit Suisse First Boston; copper company in Kazakhstan.

KHAZANAH NASIONAL BHD: To 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.

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

OVERSEA-CHINESE BANKING CORP.: $300 to $500 million bond offering; (expected Citigroup, Deutsche Bank.)

NARODNY BANK OF KAZAKHSTAN: $100 million add-on to to 8 1/8% eurobonds due 2009; same structure as original $200 million that priced at 98.996 in September 2004, via Credit Suisse First Boston and JP Morgan; by the end of 2004; Almaty, Kazakhstan-based bank.

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%.

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

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).

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: $250 million to 500 million bonds; India's largest commercial bank, headquartered in Mumbai; expected by December.

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 of 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.

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

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

ROADSHOWS:

Started Oct. 28: ALROSA FINANCE SA: Benchmark-sized offering of dollar-denominated bonds due 2014; JP Morgan, ING

Nov. 1 - Nov. 4: STATS CHIPPAC LTD.: $165 million seven-year notes; Deutsche Bank Securities

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