Emerging markets calendar: Gabon debuting with benchmark dollar-denominated bonds

NOVEMBER 26 WEEK

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.

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.

JEBEL ALI FREE ZONE FZE: $1.5 billion to $2 billion conventional dollar-bond 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.

RAS AL KHAIMAH INVESTMENT AUTHORITY: Benchmark five-year dollar-denominated senior secured sukuk; Credit Suisse, HSBC, NBD Investment Bank (joint books); Ras Al Khaimah, United Arab Emirates-based investment company; initial guidance Treasuries plus 150 bps.

ON THE HORIZON

BANCO CRUZEIRO DO SUL SA: Dollar-denominated three-year bond (Ba1); BCP Securities; Sao Paulo, Brazil-based commercial and retail lender.

BANK MANDIRI: $300 million three-year deal; 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 bond; Nomura Group; Caracas, Venezuela-based development bank; initial guidance yen Libor plus 30 to 37 bps.

EGYPT: Egyptian pound-denominated eurobond (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.

GABON: Benchmark-sized dollar-denominated debut bond offer (/BB-/); Citigroup, JP Morgan (joint books); roadshow ends Dec. 4.

INDONESIA: $2 billion sovereign bonds (Ba3/BB-/BB-) in 10- and 30-year tranches; pricing in 2008.

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

KFW BANKENGRUPPE: 6 billion Nigerian naira two-year senior bond (Aaa/AAA/AAA); Standard Bank; Regulation S; KfW is a Frankfurt-based lender.

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

LITHUANIA: Benchmark-sized euro-dominated bond (//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.

ROADSHOWS

Ending Dec. 4: GABON: Benchmark-sized dollar-denominated debut bond offer; Citigroup, JP Morgan

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