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Published on 11/7/2012 in the Prospect News Emerging Markets Daily.

Emerging markets calendar: Hong Kong's Melco Crown plans 2020 dollar notes

AFRICA & MIDDLE EAST

Nov. 5 Week

ABU DHABI ISLAMIC BANK: Dollar perpetual notes; Abu Dhabi Islamic Bank, HSBC, Morgan Stanley, National Bank of Abu Dhabi, Standard Chartered Bank; Regulation S only; talked in 7% area.

November

MOROCCO: $700 million to $1 billion of notes.

2012

ISRAEL: $1 billion to $1.5 billion of notes.

REPUBLIC OF LEBANON: $2 billion bonds in 2012; Deutsche Bank, Fransa Bank, Standard Chartered.

On The Horizon

DUBAI ELECTRICITY AND WATER AUTHORITY: Sukuk notes.

REPUBLIC OF KENYA: Notes; issuance likely by June 2013.

REPUBLIC OF ANGOLA: Up to $2 billion of notes.

ASIA

Nov. 5 Week

PT ENERGI MEGA PERSADA TBK.: Dollar notes; Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank; Rule 144A/Regulation S; roadshow began Oct. 23; natural gas producer based in Jakarta, Indonesia.

YANZHOU COAL MINING CO. LTD.: Up to $2 billion bonds; coal company based in Zoucheng, China.

KOREA SOUTHERN POWER CO. LTD.: Possible notes; Barclays, Citigroup; roadshow started Nov. 5; part of Korea Electric Power Corp., the largest electric utility in South Korea.

ALIBABA GROUP: At least $1 billion notes; Securities and Exchange Commission registered; e-commerce group based in Hangzhou, China.

FAR EAST CONSORTIUM INTERNATIONAL LTD.: Dollar bonds; Barclays, Deutsche Bank; Regulation S; roadshow ahead; Hong Kong-based business conglomerate with interests in property development, hospitality and car park operations.

Nov. 12 Week

BAIDU INC: Dollar senior notes; JPMorgan, Goldman Sachs; Securities and Exchange Commission registered; roadshow Nov. 7-12; proceeds to retire $350 million of credit facility debt and for general corporate purposes; make-whole call; ANZ, Bank of China and Deutsche Bank co-managers; Chinese-language internet search provider based in Beijing.

MELCO CROWN ENTERTAINMENT: $825 million notes due in 2020; Deutsche Bank, ANZ, Bank of America Merrill Lynch, Citigroup, Credit Agricole, UBS; Rule 144A/Regulation S; change-of-control put at 101; non-callable for three years; Hong Kong-based developer and owner of casino gaming and entertainment resort facilities focused on the Macau market.

Nov. 19 Week

GLOBAL A&T ELECTRONICS LTD.: Six-year issue of $625 million notes; roadshow Nov. 8-19; Bank of America Merrill Lynch, Credit Suisse, JPMorgan, UBS; Rule 144A/Regulation S; non-callable for three years; change-of-control put at 101% plus accrued and unpaid interest; proceeds to prepay debt; Singapore-based semiconductor test and assembly services company.

2012

KOREA FINANCE CORP.: $500 million worth of renminbi- or yen-denominated bonds; based in Seoul, South Korea.

EMERGING EUROPE & CENTRAL ASIA

Nov. 5 Week

AK BARS BANK OJSC: Dollar notes; Credit Suisse, VTB Capital; Regulation S; roadshow started Oct. 29; bank based in Kazan, the Republic of Tatarstan, in Russia.

OJSC VTB BANK: $1.25 billion add-on to 9 ½% perpetual notes; VTB Capital; proceeds to fund a subordinated loan to VTB Bank; Rule 144A and Regulation S; Moscow-based lender.

REPUBLIC OF LATVIA: Notes; Barclays, Deutsche Bank, JPMorgan.

CREDIT EUROPE BANK NV: $200 million-minimum seven-year notes (Ba3/BB-/); Goldman Sachs, Morgan Stanley; Regulation S only; Netherlands-based lender that serves emerging Europe, China and the United Arab Emirates.

SLOVAK REPUBLIC: Benchmark-sized euro notes due 2024; Societe Generale, Erste Group, Unicredit; Regulation S; spread set at 150 bps plus mid-swaps.

Nov. 12 Week

REPUBLIC OF SERBIA: Possible notes; Deutsche Bank, HSBC, VTB Capital; Rule 144A/Regulation S; roadshow Nov. 7-12.

2013

BELARUS: Up to $600 million of notes; Erste Bank, Sberbank; possible roadshow at the end of October.

CITY OF PRAGUE: €200 million 10-year notes; issuance expected in the first quarter of the year.

LATIN AMERICA & THE CARIBBEAN

Nov. 5 Week

CIELO SA: Possible notes; BB Securities, Bradesco BBI, Goldman Sachs; Rule 144A/Regulation S; roadshow Nov. 5-8; credit and debit card operator based in Barueri, Brazil.

November

CAIXA ECONOMICA FEDERAL: Five-year notes, talked at low-200 bps over Treasuries; 10-year notes talked at Treasuries plus 200 bps area (Baa2); Bank of America Merrill Lynch, Deutsche Bank, HSBC; Rule 144A/Regulation S; Brasilia, Brazil-based bank.

SIFCO SA: $200 million notes (B2//B-); Citigroup, Goldman Sachs, Banco Pine; Rule 144A/Regulation S; roadshow Oct. 31-Nov. 2; 50% of notes mature in May 2017, other 50% in May 2018; non-callable for three years; change-of-control put at 101; Sao Paulo-based manufacturer of forged components for several segments of the foreign and domestic automotive industry.

COSTA RICA: Up to $4 billion of bonds over the next 10 years, with $500 million by November.

2013

CENTRAL AMERICAN BANK FOR ECONOMIC INTEGRATION (CABEI): Possible three- to five-year issue of up to RMB 500 million notes; microfinance lender based in Tegucigalpa, Honduras.

Roadshows

Started Oct. 29: AK BARS BANK OJSC: Dollar notes; Credit Suisse, VTB Capital.

Oct. 31-Nov. 1: LATIN AMERICAN AIRPORTS HOLDINGS LTD.: $500 million seven-year notes; JPMorgan.

Started Nov. 5: KOREA SOUTHERN POWER CO. LTD.: Possible notes; Barclays, Citigroup.

Nov. 5-8: CIELO SA: Possible notes; BB Securities, Bradesco BBI, Goldman Sachs.

Nov. 7-12: REPUBLIC OF SERBIA: Possible notes; Deutsche Bank, HSBC, VTB Capital.

Upcoming: FAR EAST CONSORTIUM INTERNATIONAL LTD.: Dollar bonds; Barclays, Deutsche Bank.


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