Emerging markets calendar

WEEK OF MARCH 15

SUN SAGE MANDO BV: $200 million senior secured notes due 2009 (BB); JP Morgan, Deutsche Bank, Lehman Brothers; Rule 144A/Regulation S (no registration rights); callable with T+75 basis points make-whole call first three years, then at premium; separately guaranteed by Mando (Netherlands) Holdings BV; to pay a dividend to the sponsors; holding company for Korean auto parts manufacturer; roadshow takes place March 15 week; pricing expected Friday; price guidance 8%-8¼% yield.

WEEK OF MARCH 22

TITAN PETROCHEMICALS & POLYMERS BHD: $300 million bonds due 2011 (Ba3/BB-); Goldman Sachs & Co., JP Morgan; Rule 144A/Regulation S (no registration rights); non-callable for four years; to repay bank debt, fund capital investment and working capital; Malaysian petrochemical company; roadshow starts early week of March 22; pricing expected March 25.

SK TELECOM: $300 million seven-year bond (A3/A-); Credit Suisse First Boston, Citigroup; Rule 144A/Regulation S; finance $200 million of debt due April and for domestic bonds; roadshow to start March 22 in Singapore and Hong Kong, then New York on March 23 and Boston on March 24; pricing expected after completion of roadshow; Seoul, Korea cell phone operator.

REPUBLIC OF VENEZUELA: $250 million-plus equivalent dual-currency bonds; units of equal amounts 1.15% dollar notes due Sept. 30, 2004, 18% Vebonos due Sept. 18, 2009, 15.5% Vebonos due April 22, 2010; JP Morgan and Merrill Lynch & Co.; Regulation S; bids by March 24, results March 25.

MARCH

BANK DANAMON INDONESIA: 10-year subordinated bonds (B3/B-); size to be determined; Citigroup, Deutsche Bank Securities; roadshow started March 18 in Singapore, then Hong Kong and London; pricing expected after the week of March 22.

MEDCO ENERGI: $200 million bonds due 2009 (B3/B+); Credit Suisse First Boston, UBS Investment Bank; private sector oil company in Indonesia; pricing expected first quarter 2004.

PHILIPPINE NATIONAL BANK: $140 million step-up subordinated bonds due 2014 (Ba1); JP Morgan; roadshow originally completed in December 2003, deal rescheduled; price talk 9%-9¼%.

RELIANCE INDUSTRIES: $750 million bond due 2009; Credit Suisse First Boston and ABN Amro; diversified group of Indian manufacturing companies; pricing in March.

RUSSIAN STANDARD BANK: Eurobonds, size, tenor and structure to be determined; Barclays Capital and Citigroup; pricing expected end of March.

SAZKA (CZECH REPUBLIC LOTTERY CO.): €190 million international bonds due 2014; Credit Suisse First Boston; expected to contain amortization feature with average life of seven years; expected to price March-April.

APRIL

REPUBLIC OF CROATIA: €500 million 10-year notes (Baa3/BBB-); UBS Investment Bank and JP Morgan; Regulation S; expected in April.

HALYK BANK OF KAZAKHSTAN: $200 million five-year notes (Ba1B+); Credit Suisse First Boston, JP Morgan; Regulation S; expected in April; Kazakhstan bank.

KOREA EAST-WEST POWER: $200 to $250 million notes; Credit Suisse First Boston and Barclays Capital; refinancing company debt and building power plants; Seoul-based power utility; pricing expected in April.

MOBILE TELESYSTEMS: $600 million 10-year notes (Ba3/B+); Regulation 144A/Regulation S; Moscow-based cellular service provider.

VNESHTORGBANK: $300+ five- to 10-year bond issue (Baa3); Citigroup, Dresdner Kleinwort Wasserstein; Rule 144A/Regulation S; expected to price first quarter; Moscow bank.

SECOND QUARTER

PT BANK MANDIRI: Dollar-denominated deal coming in second quarter (B2/B); size, tenor and structure to be determined.

CZECH REPUBLIC: €1 billion 10-year notes (A1/A-/A-); Regulation S.

ENERGORYNOK (UKRAINE) $300 million debut international bond with five or seven-year maturity; JP Morgan; non-callable; Ukrainian state-owned power company; possible second quarter business.

REPUBLIC OF SLOVAKIA: €1 billion five- to 10-year issue (A3/BBB); Regulation S; pricing expected second quarter

VOTARANTIM CELULOSE E PAPEL SA: $300 million 10-year bond deal; Sao Paolo, Brazil pulp and paper company.

EMERGING MARKET OFFERINGS ON THE HORIZON

ALROSA CO. LTD: $300 million 10-year issue (B3/B); JPM Morgan and ING Financial Services; Moscow-based diamond company.

COLVIS FINANCE LTD. (Yuzhmash): $107.5 million bond issue due 2011 (B1/B); JP Morgan; Regulation S; for capex and working capital purposes relating to the Sea Launch project; Dnepropetrovsk, Ukraine rocket manufacturer.

EAST LINE CAPITAL SA: Eurobonds (company ratings B3/B-); Isle of Man holding company owns a number of businesses that operate predominantly in Russia; holding investor meetings in selected European centers; deal expected to come later this year.

HYUNDAI MOTOR CO.: $150-$200 million offshore floating-rate bonds (Ba1/BB), maturity to be determined; to repay debt; South Korean auto maker; pre-marketing.

REPUBLIC OF ISRAEL: €400 million deal (A2/A-/A-). Deutsche Bank, Morgan Stanley.

KOREA MIDLAND POWER: $150 million bonds; Credit Suisse First Boston and J.P. Morgan; power utility company.

OAO LUKOIL: $500 million eurobonds as part of 2004 borrowing program; Russian oil company.

CITY OF MOSCOW: €450 million five- to seven-year notes; UBS Investment Bank, Citigroup, Dresdner Kleinwort Wasserstein; Regulation S.

REPUBLIC OF ROMANIA: €600 million 10-year notes (Ba3/BB); Regulation S; expected in the first half.

TATA MOTORS: $500 million long-term bond issue; to fund capital expenditures, product development and refinancing acquisition of Daewoo; Indian auto manufacturing company.

VIMPELCOM: $200 million three- to five-year notes (B+); JP Morgan and UBS Investment Bank (expected); Rule 144A/Regulation S; Moscow-based communications company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.