Emerging markets calendar: China Properties to sell $300 million 10-year notes Friday

WEEK OF APRIL 23

CHINA PROPERTIES GROUP: $300 million senior unsecured notes due 2014 (B1/B+); Merrill Lynch & Co.; Rule 144A for life; non-callable for four years; to finance existing projects and potentially acquire new properties; price talk 9 1/8% to 9¼% (lowered from 9¼% to 9½%); pricing Friday.

BANCO MERCANTIL DO BRASIL (B1/B): Dollar-denominated offering of five-year amortizing notes; Dresdner Kleinwort; Regulation S; investor presentations in Singapore on April 18, then Madrid and Lisbon on April 19, London on April 20, Vienna and Frankfurt April 23, Geneva and Zurich on April 24.; amortizes in the third, fourth and fifth year; midsize bank that focuses on retail banking and lending to small and medium businesses in the southeast region of Brazil; price talk set at 9¾% area.

DESARROLLADORA METROPOLITANA SA DE CV: Inaugural offering of dollar-denominated 10-year senior notes (B2); Dresdner Kleinwort; Rule 144A/Regulation S; roadshow in Singapore on April 19, Hong Kong on April 20, London on April 23, Vienna and Frankfurt on April 24, Geneva and Zurich on April 25, New York on April 26, Boston on April 27; non-callable for five years; Mexico City-based issuer involved in home building and construction.

PT INDIKA INTI ENERGI: $250 million five-year senior fixed-rate bullet bonds; JP Morgan, ING; Regulation S; investor presentations in Hong Kong on April 25, in Singapore on April 26, London on April 27; for refinancing, to fund expansion and energy production projects, for working capital, for general corporate purposes; issued via Indo Integrated Energy BV; PT Indika Inti Energi and PT Indika Inti Corpindo will guarantee; Indonesian integrated energy group and coal producer.

WEEK OF APRIL 30

PT BERLIAN LAJU TANKER: $200 million seven-year senior fixed-rate notes (/B+/BB-), Deutsche Bank, JP Morgan; Rule 144A/Regulation S; roadshow in Singapore from April 24-25, Hong Kong on April 26, London on April 27, New York on April 30; non-callable for five years; for refinancing, vessel acquisitions; via BLT Finance BV; Indonesian shipping company.

PETROBAS ENERGIA SA: Up to $300 million in 10-year series S notes (Baa2/BBB-); Rule 144A/Regulation S; make-whole call option; change of control put option at 101; for working capital, investment in fixed assets, refinancing debt, offer capital to associated companies; Buenos Aires-based issuer, subsidiary of Brazilian state-run oil company Petróleo Brasileiro SA; pricing middle of week.

ALTO PALERMO SA: Two-part offering of up to $120 million in senior unsecured notes due 2017, up to $50 million of Argentine peso-linked notes due 2012 (/raAA-/AA-(arg); Citigroup, Standard Bank; Rule 144A/Regulation S; Buenos Aires-based developer and operator of commercial centers.; roadshow in London on April 30, Boston on May 1, West Coast on May 2, New York from May 3 to May 4; pricing expected on May 7.

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.

WEEK OF MAY 7:

TRANSPORTADORA DE GAS DEL SUR (TGS): $500 million offering of 10-year amortizing notes (B1/B+); Merrill Lynch, JP Morgan; Rule 144A/Regulation S; investor presentations un Buenos Aires on April 27, London from April 30 to May 1, Boston on May 2, West Coast on May 4, New York area from May 7 to May 8; non-callable for five years; four equal installments of amortizations commencing on the seventh anniversary; average life will be 8 ½ years; to refinance existing debt; Buenos Aires-based transporter of natural gas in Argentina.

MAY

COMPAÑÍA LATINOAMERICANA DE INFRAESTRUCTURA & SERVICIOS SA (CLISA): Up to $100 million in five-year bullet bonds (B-); BCP Securities; Rule 144A; guaranteed by Clisa's subsidiaries, Benito Roggio e Hijos SA and Cliba Ingenieria Ambiental SA; to refinance existing debt, to cancel other obligations; roadshow in Miami, New York and possibly Boston; Buenos Aires-based issuer is a holding company for passenger transport, construction, road maintenance and environmental engineering businesses; indicative guidance set at 10% to 10½%.; pricing in first half of May.

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.

JSC INTERGAS CENTRAL ASIA (ICA): Dollar-denominated bonds; ABN Amro, BNP Paribas (joint books); Rule 144A/Regulation S; issued via Intergas Finance B.V., Intergas Central Asia (Baa1/BB) will guarantee; main subsidiary of Kaztransgaz, indirectly 100% state-owned monopoly gas transmission company in Kazakhstan;

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 19-27: DESARROLLADORA METROPOLITANA SA DE CV: 10-year senior notes; Dresdner Kleinwort

April 18-24: BANCO MERCANTIL DO BRASIL: Dollar-denominated offering of five-year amortizing notes; Dresdner Kleinwort

April 19-26: CHINA PROPERTIES GROUP LTD.: $300 million global bonds due 2014; Merrill Lynch & Co.

April 24-30: PT BERLIAN LAJU TANKER: $200 million seven-year senior fixed-rate notes; Deutsche Bank, JP Morgan

April 25-27: PT INDIKA INTI ENERGI: $250 million offering of five-year senior fixed-rate bullet bonds; JP Morgan, ING

April 30-May 4; ALTO PALERMO SA: Two-part offering of up to $120 million in senior unsecured notes due 2017, up to $50 million of Argentine peso-linked notes due 2012; Citigroup, Standard Bank

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

April 27-May 8: TRANSPORTADORA DE GAS DEL SUR (TGS): $500 million offering of 10-year amortizing notes; Merrill Lynch, JP Morgan

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