Emerging markets calendar

MARCH 15 WEEK

REPUBLIC OF HUNGARY (Baa1/BBB-/BBB): Benchmark global notes due 2020; Citigroup, Deutsche Bank; SEC registered.

VALE SA (Baa2/BBB+/BBB): Euro-denominated global bonds; BNP Paribas, Credit Agricole CIB, HSBC, Santander (joint) roadshow March 15 in London, Germany and Switzerland, March 16 in Paris, London and Netherlands; global investor call on March 17; proceeds for general corporate purposes; Rio de Janeiro-based metals and mining company.

MARCH

INDEPENDENCIA ALIMENTOS SA: $150 million senior secured notes due 2015; beef producer based in Sao Paulo.

VNESHECONOMBANK (VEB): Eurobonds; Barclays, Citigroup, HSBC, Societe Generale, ING, Troika Dialog and VTB Capital; Moscow-based Bank for Development and Foreign Economic Affairs.

HYUNDAI MOTOR CO. (Baa3/BBB/): Investor meetings March 2-5, to be led by Barclays Capital, Bank of America Merrill Lynch, Citigroup, Goldman Sachs & Co., Nomura; will include stops in Singapore, Hong Kong, London, Boston, New York, Los Angeles; Korea-based auto manufacturer.

TERPHANE, INC.: $90 million secured notes due 2017; PrinceRidge Group (sole); Rule 144A for life; non-callable for four years; to repay Libor plus 970 bps secured notes and 12% secured notes; polyester films manufacturer based in Bloomfield, N.Y., and Sao Paulo; roadshow started March 15.

KINGDOM OF BAHRAIN: Planned benchmark dollar deal; BNP Paribas, Deutsche Bank, JP Morgan; Rule 144A/Regulation S; launch subject to market conditions.; roadshow beginning March 17.

BES INVESTIMENTO DO BRASIL SA (Baa2/BBB-/): Planned dollar-denominated senior notes due 2015; Rule 144A/Regulation S; Deutsche Bank, ES Investment, Standard Bank; change of control put at 101% if BESI Portugal ceases to control BESI Brazil; timing this week; banking company based in Sao Paulo, Brazil.

ON THE HORIZON

RUSSIAN FEDERATION: Eurobonds; Barclays Capital, Citigroup, Credit Suisse, VTB Capital.

DOMINICAN REPUBLIC: Expected benchmark dollar-denominated sovereign global bonds; Barclays Capital, Citigroup; timing and structure to be determined.

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

HYUNDAI CARD CORP.: Global bonds; Barclays Capital, credit card unit of Korea-based Hyundai Motor Group; roadshow started Jan. 20.

LATVIA: Planned euro-denominated offering of notes; Citigroup, Credit Suisse

UNITED GULF BANK BSC (Baa3): Possible dollar-denominated global bond offering; Calyon Securities, Standard Chartered Bank; Regulation S; Bahrain-based company is 95% owned by Kuwait Projects Co. (Kipco); pending market conditions (non-deal roadshow concluded Feb. 8 week).

LOCAL CURRENCY

JSC POLYMETAL: RUB 5 billion of three-year bonds; Saint Petersburg, Russia-based mining company.

REGIONAL CONTAINER LINES PCL: 5 billion baht five-year unsecured unsubordinated debentures; Bangkok-based shipping company.

YANG MING MARINE TRANSPORT CORP.: Up to NT$5 billion secured straight bond; refinance bond due 2011; Taiwan-based shipping company.

ROADSHOWS

Started March 15: TERPHANE, INC.: $90 million secured notes due 2017; PrinceRidge Group.

March 15-17: VALE SA: Euro-denominated global bonds; BNP Paribas, Credit Agricole CIB, HSBC, Santander.

Beginning March 17: KINGDOM OF BAHRAIN: Benchmark dollar-denominated notes; BNP Paribas, Deutsche Bank, JP Morgan.

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