Emerging markets calendar

WEEK OF MAY 29:

PUBLIC BANK BHD.: Dollar-denominated tier 1 securities maturing in 2036 via stock settlement; (Baa2/BBB); Barclays Capital; Regulation S; non-callable for 10 years (100 bps coupon step-up if not called); roadshow starts June 1 in Singapore, Hong Kong and London.

ENERGISA SA: $250 million of perpetual bonds (/B+); Merrill Lynch; callable in five years in whole or in part, subject to a minimum outstanding amount of $100 million after partial call; Energipe SA, Saelpa SA and Celb SA will issue; Energisa will guarantee; to repay short-term debt; roadshow started on May 11 in Singapore, May 12 in Hong Kong, and in Europe from May 15 to 17; Brazilian holding company of three electricity distribution company in Brazil.

PT MATAHARI PUTRA PRIMA TBK: Dollar-denominated offering of bonds (B1); Credit Suisse, UBS; Indonesian retailer.

WEEK OF JUNE 5:

MDM BANK OAO (Ba2/B+/BB-): $100 million lower tier 2 notes due 2011; Goldman Sachs; Regulation S only; Russian financial institution; roadshow expected to begin June 5 week.

JUNE:

INVESTCORP BANK: Dollar-denominated tier I perpetual preferred notes (Ba1/BB+); BNP Paribas, Credit Suisse, Deutsche Bank (joint lead managers); non-callable for 10 years; will contain coupon step-up; financial institution based in Manama, Bahrain; roadshow June 1 in Singapore, June 2 in Hong Kong, June 5 in London, June 6 in Frankfurt, June 7 in Zurich and Geneva, pricing after that.

ON THE HORIZON:

FOSUN INTERNATIONAL LTD.: $500 million global bonds due 2013; Deutsche Bank, Citigroup; Shanghai, China, company with operations in the steel, real estate and pharmaceutical sectors; launch thought to be imminent.

NATIONAL AGRICULTURAL COOPERATIVE FEDERATION (South Korea): $300 million to $400 million lower tier II subordinated notes due 2016; BNP Paribas, Calyon Securities, Merrill Lynch & Co.; non-callable for five years; umbrella organization for Korea's regional cooperatives, headquartered in Seoul.

SAN MIGUEL CAPITAL FUNDING LTD.: Benchmark-sized offering of dollar-denominated perpetual non-cumulative non-voting preferred shares; (expected Ba3); Citigroup, Credit Suisse, Deutsche Bank; HSBC; Regulation S; roadshow started Manila on April 20, Hong Kong and Singapore on April 21, Zurich on April 24, and London on April 25; callable in the fifth year. The preferreds will be non-cumulative non-voting; Cayman Islands-registered special purpose unit of beverage and food conglomerate San Miguel Corp.; proceeds will be used by the parent company; price guidance at 9% area (postponed on April 28)

PETROL AD (Bulgaria): €125 million fixed-rate global bonds due 2011; former state-owned monopoly fuel retailer, owns approximately 450 filling stations in Bulgaria, headquartered in Sofia; pending shareholder approval at meeting set for May 8.

NURBANK JSC: $200 million eurobonds; also $200 million of syndicated loans; Almaty, Kazakhstan financial institution.

SWIRE PACIFIC MTN FINANCING LTD. (SWIRE PACIFIC LTD.): HK$1.8 billion notes due 2013 (A3); HSBC; for general corporate funding requirements; Hong Kong-listed Swire Pacific has property, aviation, beverages, marine services and trading and industrial interests.

BAOSHAN IRON AND STEEL CO. LTD. (BAOSTEEL): Dollar-denominated offshore bond (issuer rating BBB+); Morgan Stanley; Shanghai-based steel company.

PT ENERGI MEGA PERSADA TBK: $500 million in bonds; to finance expansion and to repay debt; Jakarta-based oil and gas company.

PT INTERNATIONAL NICKEL INDONESIA: $300 million global bonds with five-year to 10-year maturity; Morgan Stanley, JP Morgan; to fund capital expenditures and general corporate purposes; Jakarta, Indonesia-based nickel mining and smelting company.

PT INDOFOOD SUKSES MAKMUR: $250 to $300 million bonds; to refinance company's bond due 2007; world's largest instant noodle maker; based in Jakarta, Indonesia.

MOBILE TELECOMMUNICATIONS CO.: May issue bonds for its $3.36 billion acquisition of mobile phone businesses in Africa; telecommunications company in Kuwait.

TÜRKIYE VAKIFLAR BANKASI TAO (VAKIFBANK): Dollar-denominated senior unsecured bonds (Baa2 expected); ABN Amro, Citigroup, JP Morgan; Rule 144A/Regulation S; through the issuer's Cayman Islands special-purpose vehicle; political risk insurance; letter of credit from ABN Amro

TATFONDBANK: $50 million two-year credit-linked senior unsecured notes (issuer rating B3); Trust Investment Bank; Regulation S; one-year put option at par; regional bank related to the government of the Tatarstan republic.

PT BANK MANDIRI: $300 million global bonds maturing in three to five years; Credit Suisse; off medium-term note program; to refinance debt; Indonesian state-owned lender, based in Jakarta.

ROADSHOWS:

May 11-17: ENERGISA SA: $250 million of perpetual bonds (/B+); Merrill Lynch

June 2-7: INVESTCORP BANK: Dollar-denominated tier I perpetual preferred notes (Ba1/BB+); BNP Paribas, Credit Suisse, Deutsche Bank (joint lead managers)

Starts June 1: PUBLIC BANK BHD.: Dollar-denominated tier 1 securities maturing in 2036 via stock settlement; (Baa2/BBB); Barclays Capital

© 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.