Emerging markets calendar: Alfa Bank to sell benchmark

WEEK OF JUNE 11

BANCO SCHAHIN: $100 million 3-year senior unsecured notes due 2010 (Ba3); Merrill Lynch & Co.; Rule 144A/Regulation S; for general corporate purposes; Sao Paulo, Brazil-based commercial bank; roadshow May 30 in Singapore, May 31 in Hong Kong, June 1 in London, June 4 in Switzerland, June 5 in New York, June 6 in Boston.

GOVERNMENT OF UKRAINE (B1/BB-/BB-): Benchmark-sized dollar-denominated 10-year eurobonds; Citigroup, Credit Suisse, Deutsche Bank, UBS; Rule 144A/Regulation S; Europe and U.S. roadshow started June 4.

KUWAIT FINANCIAL CENTRE MARKAZ: $100 million five-year, senior, unsecured, unsubordinated, floating rate note (BBB+) based at Libor; Barclays Capital, National Bank of Abu Dhabi, National Bank of Kuwait (joint books); Safat, Kuwait-based asset management and investment bank; roadshow held week of June 4.

TRANSNEFT: Five-year benchmark-sized loan participation notes in dollars and euros (expected A2/BBB+); Citigroup, Goldman Sachs, UBS (joint books); Rule 144A/Regulation S; Moscow-based pipeline operator; roadshow June 7 in London, June 8 in Paris, June 11 in Munich and Frankfurt, June 12 in Amsterdam, June 13-14 in New York.

BANCO HIPOTECARIO SA: Argentine peso-linked 3-year issue (Ba1/B+); Citigroup, Deutsche Bank (joint books); Rule 144A/Regulation S; Buenos Aires-based commercial and investment bank; roadshow June 5 in Buenos Aires, June 7-8 in London and June 11-13 New York area.

RENAISSANCE CAPITAL BANK: Dollar-denominated three-year senior eurobond (B-/C); Credit Suisse; Regulation S; Moscow-based commercial and investment bank; roadshow June 7 in Hong Kong, June 8 in Singapore, June 11 in Switzerland, June 11-12 in London, June 12 in Vienna and Copenhagen and June 13 in the Netherlands.

ALFA BANK: Benchmark-sized dollar-dominated issue (Ba1/BB); Credit Suisse, UBS (joint books); Rule 144A/Regulation S; off euro MTN program Moscow-based investment bank; roadshow in United States, United Kingdom and Switzerland through June 12.

SEVERSTALTRANS GROUP: dollar-denominated three-year senior bond putable in two years; ING; Regulation S; roadshow June 6 in Singapore, Hong Kong on June 7, Manila June 8, Zurich and Geneva June 11, London June 12-13; rail, port services and transportation company operating in Russia, CIS and Baltic states.

BANCO COMAFI: $100 million senior unsecured Argentine peso-linked notes (Ba2/Aa2/A+) due June 2012; issued under $200 million global medium-term note program; Citigroup; Regulation S; Buenos Aires, Argentina-based commercial bank; roadshow June 12-13 in London, June 14-15 in the United States.

WEEK OF JUNE 18

BW GROUP: 10-year dollar-dominated benchmark senior unsecured fixed-rate issue (Baa3/BBB-); HSBC, Morgan Stanley (joint books); Rule 144A/Regulation S; Singapore-based shipping company; roadshow June 13 in Hong Kong, June 14 in Singapore, June 15 in London, June 18 in Los Angeles, June 19 in New York and June 20 in Boston.

JUNE

FIRST RAND BANK: Five-year eurobond; guidance euribor plus 50 to 55 bps; Citigroup and RBS (joint books); Sandton, South Africa-based investment and commercial bank.

KEXIM: Five-year ¥35 billion samurai bond (A3/A/A+); talk at yen Libor plus basis points in the high teens; Daiwa; Seoul-based state owned bank.

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.

PERU: $2.5 billion in 30-year bonds; domestic and international markets; proceeds partial payment of Paris Club debt.

GRUPO FINANCIERO MIFEL SA: $120 million offering of perpetual bonds; Deutsche Bank; Rule 144A/Regulation S; non-callable for five years; Mexico City-based bank; pricing expected at end of June.

SPEKTR GROUP: $100 million 3-year credit-linked notes to yield 9¾% to 10½% callable in 1½ to 2 years; MDM; St. Petersburg, Russia-based health and beauty product retailer.

CITY OF KIEV: €300 million 10-year notes; Citigroup, Deutsche Bank, UBS (joint books); expected to price in June; talked at 7.2%-7.5%

JULY

SWIFT & CO./FRIBOI: $600 million notes due 2017, expected in two tranches; backed by bridge financing from Banco do Brasil, Citigroup, Santander, Rothschild, UBS; to help finance acquisition of Swift by J&F Participacoes SA, the 77% owner of JBS SA, parent of Sao Paulo, Brazil-based beef exporter Friboi; expected July business.

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.

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

STANDARD BANK OF SOUTH AFRICA: Dollar-dominated tier II issue; Johannesburg-based commercial and investment bank.

BANK OF EAST ASIA: 10-year step-up dollar-dominated benchmark-sized tier II subordinated note issue (A3/BBB+); fixed rate and uncallable for 5 years, if not redeemed 100 bps step-up offered; JP Morgan; Rule144A/Regulation S; Hong Kong-based commercial and investment bank; roadshow to come.

HIDROELECTRICA PIEDRA DEL AGUILA: $200 million 10-year notes (B); amortize in 2014; Buenos Aires, Argentina-based utility and power company.

ROADSHOWS

June 7-13: RENAISSANCE CAPITAL BANK: Dollar-denominated three-year senior eurobond; Credit Suisse

Started June 4: UKRAINE: Benchmark-sized dollar-denominated eurobonds; Citigroup, Credit Suisse, Deutsche Bank, UBS

Through June 12: ALFA BANK: Benchmark-sized dollar-dominated issue; Credit Suisse, UBS

June 6-13: SEVERSTALTRANS GROUP: Dollar-denominated three-year senior bond putable in two years; ING

Through June 14: TRANSNEFT: Five-year benchmark-sized loan participation notes in dollars and euros; Citigroup, Goldman Sachs, UBS

June 12-15: BANCO COMAFI: $100 million senior unsecured Argentine peso-linked notes; Citigroup

June 13-20: BW GROUP 10-year dollar-dominated benchmark senior unsecured fixed-rate issue; HSBC, Morgan Stanley

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