Emerging markets calendar: Vigor to sell 10-year senior notes

WEEK OF FEB. 12

ALFA BOND ISSUANCE PLC/ALFA BANK (Ba2/BB): Dollar-denominated lower tier II subordinated loan participation notes due 2017; Dresdner Kleinwort, JP Morgan (joint); Regulation S; non-callable for five years; 150 bps coupon step up; roadshow starts Feb. 12 in Hong Kong, Feb. 13 in Singapore and London, Feb. 14 in Frankfurt and London; Moscow-based Alfa Bank is the largest privately owned commercial bank in Russia.

FABRICA DE PRODUTOS ALIMENTICOS VIGOR SA: Dollar-denominated 10-year senior notes (B2) via Rule 144A and Regulation S; Dresdner Kleinwort; roadshow Feb. 6 in Singapore, Feb. 7 in Hong Kong, Feb. 8 in New York, Feb. 9 in London, Feb. 12 in Geneva and Zurich, Feb. 13 in Frankfurt and Vienna; one of Brazil's largest nationally owned conglomerates in the dairy and vegetable oil products segments; price guidance set at 9¼% to 9½%; notes will be non-callable for five years, if not called, the coupon steps up by 100 basis points.

IXE BANCO SA: Non-cumulative subordinated perpetual securities (//B+); Goldman Sachs; Rule 144A/Regulation S; roadshow in New York on Feb. 9, Singapore on Feb. 12, Hong Kong on Feb. 13, Switzerland on Feb. 14, London on Feb. 15; retail banking arm of Ixe Grupo Financiero, which is a Mexico City-based bank offering multiple financial services.

WEEK OF FEB. 19

OJSC AK TRANSNEFT: Dollar-denominated offering of seven-year loan participation notes (A2/BBB+); Credit Suisse, Goldman Sachs (joint books); Rule 144A/Regulation S; roadshow to run from Feb. 12 through Feb. 19, making stops in U.K and U.S; issued via TransCapitalInvest Ltd; Russian oil pipeline company.

DIGICEL GROUP LTD.: $1.4 billion senior notes due 2015: $1 billion cash-pay notes and $400 million PIK toggle notes; Citigroup, JP Morgan (joint books), Credit Suisse, Lehman Brothers plus others (co's); Rule 144A for life; both tranches non-callable for three years; to purchase outstanding shares of Digicel Ltd. for cash and fund capital expenditures; wireless telecommunications operator in the Caribbean, incorporated in Bermuda; roadshow Feb. 14-22; pricing Feb. 22 or 23.

MIRAX GROUP: $100 million credit-linked notes due 2011; MDM Bank; to fund construction projects in Kiev, Ukraine; conglomerate based in Moscow and St. Petersburg involved in property development and management, construction, and pharmaceuticals; initial price guidance 9% to 9½%; to launch and price following Asian and European roadshow, subject to market conditions.

ON THE HORIZON

HUNGARIAN TELEPHONE AND CABLE CORP. (HTTC): €200 million floating-rate notes; Merrill Lynch & Co., BNP Paribas, Calyon Securities; in connection with HTTC's acquisition of Invitel; HTTC, 62% owned by Danish telecom, TDC, with remaining shares traded on Nasdaq, has headquarters in Budapest and Seattle; expected in second quarter of 2007.

HOME CREDIT & FINANCE BANK RUSSIA: Dollar-denominated eurobonds; ABM Amro, BNP Paribas; expected to take place during the first half of this year; Russian arm of consumer lending group Home Credit.

ROADSHOWS

Feb. 6-13: FABRICA DE PRODUTOS ALIMENTICOS VIGOR SA: Dollar-denominated notes; Dresdner Kleinwort

Feb. 12-14: ALFA BOND ISSUANCE PLC/ALFA BANK: Dollar-denominated lower tier II subordinated loan participation notes due 2017; Dresdner Kleinwort, JP Morgan (joint)

Feb. 9-14: IXE BANCO SA: Upcoming issuance of non-cumulative subordinated perpetual securities (//B+); Goldman Sachs

Feb. 12-19: OJSC AK TRANSNEFT: Dollar-denominated offering of seven-year loan participation notes (A2/BBB+); Credit Suisse, Goldman Sachs

Feb. 14-22: DIGICEL GROUP LTD.: $1.4 billion senior notes due 2015; Citigroup, JP Morgan (joint books)

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