Emerging markets calendar: Agile Property offering $400 million in two tranches

NOVEMBER 12 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 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.

NEWLAND INTERNATIONAL PROPERTIES: $220 million seven-year senior secured bond (Ba3//BB); Bear Stearns; Rule 144A/Regulation S; noncallable for three years, average life of five years, six months; change of control put at 101; proceeds to new construction and the refinancing of existing debt; property developer based in Panama; roadshow will be held in the United States and London; pricing originally expected on Nov. 9; initial guidance 9 3/8% to 9 5/8%.

DUBAI ELECTRICITY & WATER AUTHORITY: Bond issue (A1//AA); Barclays, Citigroup; Dubai Islamic Bank (joint books); Rule 144A/Regulation S; Dubai-based utility company; roadshow until Nov. 13.

NOVEMBER

OAO GAZPROM: ¥50 billion notes in two tranches of ¥25 billion (A3/BBB/BBB-); Citigroup, Mizuho Securities, Societe Generale (joint books); Moscow-based government controlled oil producer; initial guidance for three-year tranche mid-swaps plus 150 bps to 160 bps, for five-year tranche mid-swaps plus 160 bps to 170 bps.

JEBEL ALI FREE ZONE FZE: Benchmark-sized conventional bond and sukuk (A1/A+); Barclays, Deutsche Bank, Dubai Islamic Bank, Lehman Brothers (joint books); Dubai-based trade zone authority; roadshow began Nov. 11.

ON THE HORIZON

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.

CIKARANG LISTRINDO: $425 million seven-year senior secured notes (Ba3/BB-/); UBS; proceeds for debt refinancing, capex and general corporate purposes; Jakarta, Indonesia-based natural gas and electricity company.

EMPRESA DE TELECOMUNICACIONES DE BOGOTA: Bond issuance; Merrill Lynch, Deutsche Bank (joint books); Bogota-based telecom provider.

INDONESIA: $2 billion sovereigns (Ba3/BB-/BB-) over 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.

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 COUTNRY 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-based energy provider.

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

VIETNAM: 10-year local-currency sovereign worth up to $1 billion, expected; Barclays, Citigroup, Deutsche Bank (joint books).

ROADSHOWS

Started Nov. 5: AGILE PROPERTY HOLDINGS LTD.: $400 million senior secured bullet; HSBC

Started Nov. 11: JEBEL ALI FREE ZONE FZE: Benchmark-sized conventional bond and sukuk (A1/A+/); Barclays, Deutsche Bank, Dubai Islamic Bank, Lehman Brothers (joint books)

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