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Published on 11/22/2017 in the Prospect News Emerging Markets Daily.

Emerging markets calendar:

LATIN AMERICA

Week of Nov. 27

CEMIG GERACAO E TRANSMISSAO SA:

• dollar-denominated notes

• Roadshow starting Thursday with meetings in London, New York and Los Angeles

• Bradesco, Citigroup, Deutsche Bank and Itau BBA leading investor meetings

• Rule 144A and Regulation S

• Brazilian state-owned power generation and transmission company

RIO NEGRO PROVINCE:

• $300 million of seven-year notes

• Roadshow starting Friday with meetings in Buenos Aires, Europe and U.S.

• Bookrunners BBVA Securities and BofA Merrill Lynch

• Rule 144A and Regulation S

On The Horizon

EMPRESA PROVINCIAL DE ENERGIA DE CORDOBA:

• Up to $100 million of notes

• Proceeds to repay existing debt with wholesale market administrator and for working capital

• Bookrunners include BofA Merrill Lynch and Citigroup

• Rule 144A and Regulation S

• Buenos Aires-based energy company (electricity, oil and gas)

CABLEVISION SA:

• Plans $50 million of class B fixed notes

• To be issued under the company’s $1 billion global notes program

• Argentine cable television company subsidiary

2017

LA RIOJA:

• $200 million notes

• UBS, Puente Hnos SA

• Province in Argentina

GRUPO LOS GROBO:

• Dollar notes

• Buenos Aires-based agribusiness

COSTA RICA:

• $1 billion of 30-year notes

• Deutsche Bank, HSBC.

COLOMBIA:

• Euro notes

• BBVA, Goldman Sachs, JPMorgan

• Securities and Exchange Commission registered

• Includes a make-whole call

• Proceeds for general budgetary purposes

ASIA

On The Horizon

POWER FINANCE CORP. LTD.:

• Benchmark-size 10-year green notes

• Barclays, SBICAP and Standard Chartered Bank as joint bookrunners and joint lead managers

• Regulation S

• Proceeds for refinancing existing debt

• New Delhi-based provider of financing for electrical power

CHINA STATE CONSTRUCTION HOLDINGS LTD.:

• Dollar-denominated guaranteed notes

• Issuer China State Construction Finance (Cayman) II Ltd.

• Bookrunners are Bank of America Merrill Lynch, Bank of China (Hong Kong) Ltd. and CCB International Capital Ltd, and Credit Suisse

• Regulation S

• Proceeds for general corporate purposes and to refinance debt and for new and existing projects

• Hong Kong-based construction contractor

CONCORD NEW ENERGY LTD.:

• Dollar-denominated unsecured notes

• Bookrunners are Merrill Lynch International, BOC International and China Everbright Bank Hong Kong Branch

• Regulation S

• Proceeds for general corporate purposes and to refinance debt

• Shenzhen, China-based department store

RELIANCE INDUSTRIES LTD.:

• To issue Rs. 50 billion nonconvertible debentures

• Fourth tranche of issuance given authority by shareholders July 21

• Proceeds to refinance existing borrowings and for general corporate purposes

• Private placement

• Mumbai-based petrochemical and retail conglomerate

SHANGHAI DAZHONG PUBLIC UTILITIES (GROUP) CO., LTD.:

• Up to RMB 1.69 billion corporate bonds in tranches

• First tranche to be completed within 12 months; remaining tranches within 24 months

• China Securities Regulatory Commission

• Public offering

• Shanghai-based urban transport, city gas, environmental and municipal businesses holding company

FAR EASTERN INTERNATIONAL BANK:

• Plans to issue NT$5 billion perpetual non-cumulative subordinated financial debentures

• In connection with the new issue, the lender is terminating plan to issue NT$4 billion of subordinated debt

• Proceeds will be used for tier 1 capital

• Taipei, Taiwan-based bank

MAOYE INTERNATIONAL HOLDINGS LTD.:

• Dollar-denominated unsecured notes

• Bookrunners are Deutsche Bank AG, Singapore Branch, Guotai Junan Securities (Hong Kong) Ltd. and UBS AG Hong Kong Branch, China Merchants Securities (HK) Co., Ltd., Haitong Bank, SA, Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong) Ltd. and VTB Capital plc

• Rule 144A/Regulation S

• Proceeds to fund wind and solar power projects, repay existing debts and for general corporate purposes

• Hong Kong-based wind and solar power investment holding company

LVGEM (CHINA) REAL ESTATE INVESTMENT CO. LTD.:

• Add-on to its 8½% three-year guaranteed senior notes

• To be issued via subsidiary Gemstones International Ltd.

• Proceeds for general corporate purposes and to finance new property projects

• Bookrunners are Nomura, Guotai Junan International, BOSC International, UBS, SPDB International, Bocom International, VTB Capital

• Original $225 million issue sold in August

• Regulation S

• Hong Kong-based property developer

BANK OF COMMUNCATIONS CO. LTD.:

• Up to RMB 20 billion of green bonds

• Proceeds to be used for loans to be granted to green industry projects

• Shanghai-based company

JIANGSU NANTONG SANJIAN INTERNATIONAL CO. LTD.:

• Dollar denominated unsecured notes

• Guaranteed by Jiangsu Nantong Sanjian Construction Group Co. Ltd.

• Proceeds for general corporate purposes and repayment of debt

• Haimen, China-based construction company

AGRICULTURAL BANK OF CHINA LTD.:

• Up to RMB 40 billion of tier 2 notes

• To be issued in the China interbank bond market

• Shareholders previously approved issuance of up to RMB 80 billion tier 2 capital instruments

• Beijing-based commercial lender in China, Hong Kong and Singapore

SINOPAC SECURITIES CORP.:

• Up to NT$5 billion of bonds

• One or more maturities of up to five years

• To be sold at par

• Proceeds to replenish working capital and strengthen financial structure

• Taipei, Taiwan-based financial services company

HUA NAN FINANCIAL HOLDINGS CO., LTD.:

• Up to NT$12 billion of bonds in 2017

• Maturities of five and 10 years

• Underwriter Hua Nan Securities

• Proceeds to repay a bond maturing in 2018 and enhance capital structure

• Taipei, Taiwan-based banking and securities company

TENAGA NASIONAL BHD.:

• RM 4 billion 20-year Sukuk

• To be issued through Southern Power Generation subsidiary

• Joint lead managers CIMB Investment Bank and Maybank Investment Bank Bhd.

• Proceeds earmarked for funding project costs

• Kuala Lumpur-based electric utility

SMC GLOBAL POWER CORP.:

• Up to PHP 35 billion of debt securities

• Initial tranche of PHP 25 billion

• Proceeds to refinance the company’s outstanding $400 million issue

• Mandaluyong City, Philippines-based power company subsidiary of San Miguel Corp.

CHINA CONSTRUCTION BANK CORP.:

• Up to RMB 60 billion of domestic preference shares

• Maturities in seven and 15 years

• Proceeds to redeem the company’s 2010 first and second issues of subordinated corporate bonds

• Beijing-based bank

CHINA NATIONAL BUILDING MATERIAL CO. LTD.:

• Up to RMB 20 billion of corporate bonds

• Beijing-based state-owned building materials enterprise

CHINA ALUMINUM INTERNATIONAL ENGINEERING CORP. LTD.:

• Up to RMB 20 billion of onshore and offshore debt financing

• Maturity of up to 10 years

• Proceeds to be used to meet business operation needs like debt structure and working capital

• Beijing-based engineering company

TAISHIN FINANCIAL HOLDING CO.:

• Up to NT$8 billion of bonds in one or two tranches

• Maturities in seven and 15 years

• Proceeds to redeem the company’s 2010 first and second issues of subordinated corporate bonds

• Taipei, Taiwan-based bank holding company

LIFESTYLE INTERNATIONAL HOLDINGS LTD.:

• Offering of dollar-denominated senior notes

• To be issued by subsidiary LS Finance (2017) Ltd. and guaranteed by Lifestyle International

• Joint bookrunners are JPMorgan, UBS AG Hong Kong and Bank of China (Hong Kong) Ltd.

• Proceeds for general corporate purposes, including future acquisitions and core business investments

• Hong Kong-based retail operator

VARDHMAN TEXTILES LTD.:

• Up to Rs. 5 billion of committee-approved secured debentures

• Ludhiana, India-based textile producer

BANK OF JINZHOU CO. LTD.:

• Up to RMB 10 billion offshores preference shares

• Proceeds to be treated as additional tier 1 capital

• Jinzhou, China-based lender

IGB REAL ESTATE INVESTMENT TRUST:

• Up to RM 5 billion, 20-year notes

• To be issued through wholly owned special purpose vehicle IGB REIT Capital Sdn. Bhd.

• Lead arranger and manager Hong Leong Investment Bank Bhd.

• Proceeds to finance investments, refinance existing or future borrowings and fund working capital requirements

• Kuala Lumpur-based real estate investment trust

HINDUSTAN COPPER LTD.:

• Possible issue of debentures in a private placement

• Issue to be discussed by company’s board on Aug. 22

• One or more tranches of secured or unsecured debentures may be issued

• Kolkata-based copper producer

CHINA RESOURCES LAND LTD.:

• Up to RMB 5 billion in two tranches of medium-term notes

• Including RMB 3.5 billion three-year notes and RMB 1.5 billion five-year notes

• Citic Securities Co. Ltd. and Agricultural Bank of China Ltd. are joint lead underwriters

• Proceeds to be used for development of company projects and additional liquidity

• Hong Kong-based property developer

CHINA NATIONAL CHEMICAL CORP.:

• Dollar-denominated senior bonds (expected: /BBB/A-)

• Roadshow July 5 to July 11 in Asia and Europe

• Will be issued through CNAC (HK) Finbridge Co. Ltd.

• Proceeds to refinance the company’s existing debt and for general corporate purposes

• State-owned chemical company based in Beijing

ABOITIZ POWER CORP.:

• Plans public offerings for up to PHP 30 billion of fixed-rate bonds in tranches

• Power generation company and subsidiary of Aboitiz Equity Ventures Inc. based in Taguig City, Philippines

DIGITAL CHINA HOLDINGS LTD.:

• Plans to issue up to RMB 1.3 billion of corporate bonds in multiple tranches

• The first tranche will be completed with 12 months, and the remaining tranches are seen being completed within 24 months.

• The Hong Kong-based foreign brand information technology products company is a spinoff from Legend Group

AXIS BANK LTD.:

• Plans to issue up to Rs. 35 billion of series 28 unsecured subordinated perpetual debentures

• Additional tier 1, Basel 3 compliant notes would be issued with a face value of Rs. 1 million each

• Mumbai-based bank

CHINA HUARONG ASSET MANAGEMENT CO., LTD.:

• Proposing to issue up to RMB 20 billion of offshore preference shares

• Preference shares will be sold at or above par

• Proposed issuance is subject to shareholders’ approval at an upcoming meeting

• State-owned asset manager is based in Beijing

ASTRO MALAYSIA HOLDINGS BHD.:

• Up to RM 3 billion medium-term notes

• To be issued through Measat Broadcast Network Systems Sdn. Bhd.

• CIMB Investment Bank Bhd. and RHB Investment Bank Bhd. are joint lead arrangers

• Proceeds to finance licensing costs, purchase equipment, for capital expenditures and refinance any maturing MTNs

• Kuala Lumpur, Malaysia-based satellite television and radio operator

FAR EASTONE TELECOMMUNICATIONS CO., LTD.:

• Plans to issue up to NT$5 billion of corporate bonds with maturities of up to seven years

• Fixed-rate bonds will be sold at par in one or more public offerings

• Proceeds will be used to repay debt

• Taipei, Taiwan-based telephone company


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