Emerging markets calendar: ICICI Bank talks $2 billion notes at Treasuries plus 237.5 bps

WEEK OF SEPTEMBER 24

ARGENTINA/VENEZUELA: $1.2 billion two tranche Bono del Sur local issue by Argentina and Venezuela; pricing announcement Sept. 28.

CORPORACION DURANGO SAB DE CV: $520 million senior unsecured notes due 2017 (B+/B+); Merrill Lynch; Rule 144A/Regulation S; non-callable for five years; proceeds to refinance existing debt and for general corporate purposes; Durango, Mexico-based bag and box manufacturer; initial price guidance 10½% area; pricing expected Sept. 24 week.

ICICI BANK LTD.: $2 billion five-year senior unsecured bonds (Baa2//BBB-); Deutsche Bank, Goldman Sachs Merrill Lynch (joint books); Rule 144A/Regulation S; Mumbai, India-based retail lender; initial guidance set at Treasuries plus 237.5 bps.

OCTOBER

AZERBAIJAN: Debut sovereign bond issue (Ba1//BB+); Deutsche Bank, Citigroup (joint books); expected September-October business.

BANCO DE CREDITO DEL PERU: $160 million nuevo sol-denominated 15-year subordinated bond (Baa3/BB+/BB+); Morgan Stanley; Rule 144A/Regulation S; non-callable for 10 years; interest rates fixed for the first 10 years, then adjusted semi-annually to 150 bps plus yield to maturity of Peru's sovereign due 2037; Lima, Peru-based commercial and investment bank; roadshow held in London on Oct. 1, in New York on Oct. 2, Los Angeles on Oct. 3 and Boston on Oct. 4; pricing to follow.

GAZPROM: Benchmark-sized eurobond; Citigroup, Societe Generale (joint books); expected in

October; Moscow-based oil company.

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

ON THE HORIZON

BANK MANDIRI: $300 million three-year deal; expected in Oct. or Nov.; 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 note issue (Ba3/BB-/); UBS; proceeds for debt refinancing, capex and general corporate purposes; Jakarta, Indonesia-based natural gas and electricity company; roadshow ended July 24, pricing to follow.

EDENOR SA: $250 million 10-year bond from a $600 million program; Citigroup, Deutsche Bank (joint books); Buenos Aires, Argentina-based energy distribution company.

EMPRESA DE TELECOM DE BOGOTA: Dollar-dominated fixed-rate bonds.

HUNGARY: Benchmark-sized samurai bond (A2/BBB+/BBB+); Mizuho Securities, Nikko Citigroup (joint books); proceeds for general financing.

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.

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

LITHUANIA: Benchmark-sized euro-dominated bond; Societe General, UBS (joint books).

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