Emerging markets calendar

ON THE HORIZON

KUWAIT PROJECTS CO. (KIPCO): Notes; Citi, BNP Paribas, HSBC; Regulation S; roadshow June 30-July 6 in Hong Kong, Singapore, United Arab Emirates, London, Germany, Switzerland; investment firm based in Kuwait City, Kuwait.

UKRAINE (//B-): Eurobonds; JPMorgan, VTB, Morgan Stanley; pricing expected in July.

POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO (PGNiG): Up to PLN 3 billion in bonds; Bank Pekao, ING Bank Slaski, PKO Bank Polski, Bank Handlowy w Warszawie SA, Societe Generale, BNP Paribas; maturities will range from one month to one year; proceeds to repay a multi-currency credit facility maturing on July 27 and for investment projects; natural gas company based in Warsaw, Poland; pricing expected in July.

VTB BANK: Planned Swiss franc-denominated eurobond; VTB Capital, BNP Paribas; roadshow starting July 8; Moscow-based lender.

TRANSCREDITBANK: Possible notes; JPMorgan, BNP Paribas; Moscow-based commercial bank and subsidiary of JSC Russian Railways.

AKBANK: Planned eurobond issue due 2015 (Ba1//BBB-); could total up to $1 billion; proceeds for general corporate purposes; Istanbul-based banking company.

INDOSAT: Dollar-denominated fixed-rate senior notes due 2020 (expected ratings Ba1//BBB-); size could total $500 million to $700 million; Citi, DBS Bank Ltd., Deutsche Bank, HSBC, RBS; Rule 144A/Regulation S; roadshow in Asia, the United States and Europe started May 12; proceeds to refinance $235 million guaranteed notes due in November and $109 million guaranteed notes due 2012; launch subject to market conditions; telecommunications and information service provider based in Jakarta, Indonesia, and 65%-owned by Qatar Telecom.

BANCO MERCANTIL: Proposed issue of notes; Bank of America Merrill Lynch; roadshow week of June 28; lender based in Caracas, Venezuela.

BANCO VOTORANTIM SA: Proposed issue of notes; Bank of America Merrill Lynch, Deutsche Bank, RBS; roadshow started week of June 21 in United States and Europe; Sao Paulo-based lender.

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.

IRSA INVERSIONES Y REPRESENTACIONES SA: $250 million 10-year notes; Citigroup, Banco Itau, Santander; Rule 144A/Regulation S; proceeds to refinance or repay debt, for capital contributions to subsidiaries, for investments in assets and for funding of working capital; Buenos Aires-based real estate, shopping center and hotel company.

FINSPACE SA: $460 million senior notes due 2015 (B1/B+/B+); Citigroup, Credit Suisse, Barclays Capital, Morgan Stanley; non-callable for three years; proceeds for plate mill expansion, debt refinancing, acquisition and general corporate purposes; Bangkok-based manufacturer and fabricator of pipes and related components for use in the petrochemical sector; global roadshow started April 29 and extended into May 10 week.

ALBANIA: Dollar-denominated bonds; total could be $300 million; delayed; JPMorgan, Deutsche Bank.

NATIONAL AGRICULTURAL COOPERATIVE FEDERATION (NONGHYUP): Planned dollar-denominated benchmark bonds; Citigroup, Credit Agricole CIB, RBS, Morgan Stanley, ING; agricultural cooperative banking organization based in Seoul, South Korea.

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

ISLAMIC DEVELOPMENT BANK: Two benchmark-sized sukuk offerings; 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.

ZHAIKMUNAI: Planned issue of notes (B3); Citibank, JPMorgan, ING; oil exploration, development and production company based in Kazakhstan.

BBK: Planned dollar-denominated benchmark eurobond notes; may be delayed; Deutsche Bank, HSBC, Citigroup; retail lender part-owned by government of Bahrain.

IDBI BANK: Planned dollar-denominated bonds; Mumbai, India-based lender.

CHINA ORIENTAL GROUP CO. LTD.: Planned dollar-denominated issue of senior notes; Deutsche Bank, ING; Rule 144A/Regulation S; proceeds to fund working capital, capital expenditures and general corporate purposes, including possible acquisition; roadshow started May 3; integrated iron and steel manufacturer.

QATAR ISLAMIC BANK: Planned sukuk offering of up to $750 million; HSBC, Credit Suisse; lender based in Doha, Qatar.

ODEBRECHT FINANCE LTD: Dollar-denominated offering of perpetual step-up notes (expected ratings Baa3/BB/BB+); Credit Suisse, Banco Itau; Rule 144A/Regulation S; non-callable for five years; proceeds to refinance outstanding 9 5/8% perpetual notes; Salvador, Brazil-based business conglomerate.

TOURISM DEVELOPMENT & INVESTMENT CO.: Planned issue of 10-year bonds; Standard Chartered, Citigroup, BNP Paribas; government-owned hotel developer based in Abu Dhabi.

MOROCCO: Euro-denominated benchmark-sized issue of global bonds; Barclays, HSBC, Natixis; roadshow late April.

SLOVAK REPUBLIC (A1/A+/A+): Euro-denominated benchmark-sized issue of 10-year notes; Barclays Capital, Deutsche Bank, Slovenska Sporitelna, ING; subject to market conditions.

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

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

FIRST RAND LTD: Planned benchmark-sized five-year bonds; JPMorgan, Mitsubishi UFJ Financial Group, Standard Chartered, UBS; postponed; Johannesburg, South Africa-based financial services company.

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

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

ROADSHOWS

Started April 29: FINSPACE SA: $460 million senior unsecured notes due 2015; Citigroup, Credit Suisse, Barclays Capital, Morgan Stanley.

Started May 3: CHINA ORIENTAL GROUP CO. LTD.: Planned dollar-denominated issue of senior notes; Deutsche Bank, ING.

Started May 12: INDOSAT: Planned dollar-denominated fixed-rate senior notes due 2020; Citi, DBS Bank Ltd., Deutsche Bank, HSBC, RBS.

Week of May 17: IRSA INVERSIONES Y REPRESENTACIONES SA: Planned $250 million 10-year notes; Citigroup, Banco Itau, Santander.

May 20-25: SABIC CAPITAL: Planned offering of senior unsecured notes; JPMorgan, HSBC, RBS.

June: PEMEX: Non-deal roadshow; Deutsche Bank, HSBC.

Week of June 21: BANCO VOTORANTIM SA: Proposed issue of notes; Bank of America Merrill Lynch.

Week of June 28: BANCO MERCANTIL: Proposed issue of notes; Bank of America Merrill Lynch.

June or July: BANORTE: Non-deal roadshow; Monterrey, Mexico-based lender.

June or July: FRIGOL: Non-deal roadshow; Sao Paulo-based meat production company.

Late June: TRANSCREDIT BANK: Possible issue of notes; JPMorgan, BNP Paribas.

June 30-July 6: KUWAIT PROJECTS CO. (KIPCO): Planned issue of notes; Citi, BNP Paribas, HSBC.

Starting July 8: VTB BANK: Planned Swiss franc-denominated eurobond; VTB Capital, BNP Paribas.

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