Emerging markets calendar: BBVA to sell two-part notes offerring

WEEK OF MAY 7

BBVA BANCOMER SA: Two-part offering of euro-denominated and dollar-denominated notes; Credit Suisse, Deutsche Bank, BBVA; Rule 144A/Regulation S; tranche of euro-denominated 10-year tier II notes (A1//BBB+), non-callable for five years, if not called, fixed-rate coupon changes to floating rate, coupon steps up by 100 basis points; $500 million tranche of 15-year tier 1 notes (A1//BBB+), non-callable for 10 years, if not called, the fixed-rate coupon changes to a floating rate, coupon steps up by 100 basis points; roadshow in the Netherlands and on the West Coast on May 7, London and New York on May 8, in Paris, Frankfurt and Boston on May 9; for general corporate purposes; issued via the bank's Grand Cayman Islands branch; Mexico City-based bank; euro-denominated notes talked at mid-swaps plus 45 bps, dollar-denominated notes talked at Treasuries plus 140 bps.

OJSC RUSSIAN AGRICULTURAL BANK (ROSSELKHOZBANK): Dollar-denominated offering of seven-year loan participation notes; Barclays Capital, Citigroup, JP Morgan; Rule 144A; Regulation S deal, issued via RSHB Capital SA; state-owned Moscow-based financial institution; talked at mid-swaps plus 110 bps.

JSC TEMIRBANK BV: Benchmark-sized offering of dollar-denominated seven-year notes (Baa3/B+/BB-); JP Morgan, Standard Bank plc (joint books); Rule 144A/Regulation S; roadshow in Hong Kong on April 27, Singapore on April 30, London on May 1 and 2, New York on May 3, Boston on May 4, Los Angeles on May 7; to be issued via financing subsidiary Temirbank Capital BV; full-service bank has headquarters in Almaty, Kazakhstan; guidance set at mid-swaps plus 110 bps.

RASPADSKAYA OAO: Dollar-denominated offering of bonds on Monday in Hong Kong; Citigroup, UBS; Regulation S; roadshow in Hong Kong on May 7, Singapore on May 8, Zurich and Geneva on May 9, London on May 10-11; Russian coal producer.

URSA BANK: Euro-denominated offering of three-year bonds; ABN Amro, Deutsche Bank; Regulation S; revised talk of 7% to 7¼%, from 7¼% area; formerly known as Sibacadembank; regional bank in Russia.

WEEK OF MAY 14

SADIA OVERSEAS LTD.: Dollar-denominated offering of intermediate-dated notes (Ba2/BB expected); ABN Amro; Rule 144A/Regulation S; roadshow in Hong Kong on May 7, Singapore on May 8, Zurich on May 9, London on May 10, Frankfurt on May 11, New York on May 14, Boston on May 15, Los Angeles on May 16, an open roadshow on May 17; Brazilian food processing company Sadia SA will guarantee; to refinance existing debt, finance capital expenditures.

SHINHAN CARD CO. LTD.: $400 million five-year senior unsecured notes (BBB+//BBB+) ABN Amro, Bank of America, BNP Paribas., Goldman Sacks; Regulation S; Seoul-based credit card company and part of Korea's second largest financial services provider, Shinhan Financial Group.

CITIC RESOURCES HOLDINGS LTD. (CITIC): Dollar-denominated offering of seven-year senior unsecured notes (Ba2); Bear Stearns; Morgan Stanley; Rule 144A/Regulation S; roadshow in Hong Kong and Singapore on May 9, on the West Coast and Singapore on May 10, in New York and London on May 11, in New York and Boston on May 14; to be issued via Citic Resources Finance (2007) Ltd.; to finance Citic Resource's acquisition of 50% interests of Nations Energy Company Ltd. from its parent Citic Group and for working capital purposes. Hong Kong-listed base metals producer.

BANK OF BARODA: Dollar-denominated offering of 15-year upper tier II bonds next week; Deutsche Bank, Citigroup, Barclays Capital; Regulation S; investor presentations in Singapore May 14, Hong Kong on May 15, London on May 16; financial institution is based in Mumbai, India.

MAY

NEW WORLD RESOURCES BV: €300 million senior notes due 2015 (B3/B); Morgan Stanley, Barclays Capital, Citigroup; Rule 144A/Regulation S; non-callable for four years; to repay bank debt and fund capital expenditures; Netherlands-based holding company whose activities include coal mining and coke production in the Czech Republic; roadshow started May 7; pricing late May 7 week or early May 14 week.

PETROLEUM CO. OF TRINIDAD & TOBAGO LTD. (PETROTRIN): $750 million offering of 15-year amortizing notes (/BBB+/), Citigroup (books), Calyon (co-manager); to finance a large portion of estimated $800 million refinery upgrade program; state-owned oil company in Trinidad and Tobago.

ON THE HORIZON

AMTEL VREDESTEIN NV: Euro-denominated offering of three-year fixed rate unsecured bonds; Nomura International plc; company's debut offering of eurobonds; Enschede, Netherlands-based tire manufacturer and retailer.

ISPAT INDUSTRIES LTD.: Up to $500 million in foreign currency-denominated notes for infrastructure improvements in some of the company's plants, including its hot rolled coil steel plant at Dolvi in Raigad district of Maharashtra and its pellet plant, located at

KAZTRANSOIL: Up to $1 billion in new bonds; to fund the construction of two pipelines; Kazakhstan-based state-run oil firm.

ROADSHOWS

April 27-May7: JSC TEMIRBANK BV: Benchmark-sized dollar-denominated seven-year notes; JP Morgan, Standard Bank plc

May 7-17: SADIA OVERSEAS LTD.: Dollar-denominated intermediate-dated notes; ABN Amro

Started May 7: NEW WORLD RESOURCES BV: €300 million senior notes due 2015; Morgan Stanley, Barclays Capital, Citigroup

May 7-9: BBVA BANCOMER SA: Two-part offering of euro-denominated and dollar-denominated notes; Credit Suisse, Deutsche Bank, BBVA

May 7-11: RASPADSKAYA OAO: Dollar-denominated offering of bonds on Monday in Hong Kong; Citigroup, UBS

May 9-14: CITIC RESOURCES HOLDINGS LTD. (CITIC): Dollar-denominated offering of seven-year senior unsecured notes; Bear Stearns, Morgan Stanley

May 14-16: BANK OF BARODA: Dollar-denominated offering of 15-year upper tier II bonds next week; Deutsche Bank, Citigroup, Barclays Capital

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