Emerging markets calendar

ON THE HORIZON

BANCO DE ORO: $150 million bond, possible upsize to $200 million; proceeds to refinance debt; Manila, Philippines-based commercial and retail bank.

CAMIL ALIMENTOS: $150 million senior unsecured bullet bond (Ba3/BB-/); ABN Amro, Santander (joint books); proceeds to refinance existing debt from the acquisition of Uruguay's Saman; Sao Paulo-based food producer; roadshow on June 18 in Hong Kong, on June 19 in Singapore, on June 20 in Geneva, on June 23 in London, on June 24 in New York, on June 25 in Boston and on June 26 on the U.S. West Coast.

EGYPT: Egyptian pound-denominated eurobonds (Ba1/BB+/BB+); HSBC, Merrill Lynch (joint books); pricing expected in 2008.

KERRY PROPERTIES: Size to be determined amount of bonds; Deutsche Bank Securities; Hong Kong property development and management company; investor presentations completed in Asia and Europe.

POSCO ENGINEERING & CONSTRUCTION (Baa1/BBB+): Dollar-denominated notes; Barclays Capital, Citigroup, HSBC; construction arm of Korean steel company Posco; expected early September business.

ROMANIA: €500 million 10-year eurobonds; Credit Suisse, UBS, Eurobank EFG (joint books); planned in the first half of 2008.

JSC RUSSIAN RAILWAYS: Up to $600 million eurobonds (/BBB+/); Barclays, ING, Morgan Stanley (joint books); Moscow-based government-run rail carrier; pricing expected in 2008.

UKRAINE: $500 million bonds (B1/BB-/BB-); BNP Paribas, JPMorgan, Standard Bank (joint books); Rule 144A/Regulation S; roadshow on June 23 in New York, on June 24 in Boston, on June 25 and June 26 in London.

LOCAL CURRENCY

AMBANK BHD.: S$425 million 10-year stapled notes (BB/BB); BNP Paribas, AmBank (joint books); proceeds to fund the bank's growth; Kuala Lumpur, Malaysia-based retail and commercial bank.

BANK OF COMMUNICATIONS CO. LTD.: Up to 5 billion yuan bonds, maturity of one- to three-years; proceeds for granting loans, general working capital and general corporate purposes; Shanghai-based retail and commercial bank.

BEIJING NORTH STAR CO. LTD.: 1.7 billion yuan five-year bonds; interest rate between 7.5% and 8.6%; UBS; Beijing-based real estate firm.

CHINA COMMUNICATIONS CONSTRUCTION CO. LTD.: Up to 15 billion yuan bond issue; five- to 15-year maturity; interest rate not to exceed central bank benchmark lending rate; proceeds to refinance debt; Beijing-based infrastructure and ports operator.

CHINA SOUTHERN AIRLINE CO. LTD.: 1.5 billion yuan three-year bonds; proceeds for working capital; Guangzhou, China-based airline.

CHINABANK: Up to PHP 8 billion in long-term negotiable certificates of time deposit; two or more tranches of at most PHP 5 billion and PHP 3 billion; Manila-based commercial and retail bank.

JG SUMMIT HOLDINGS INC.: PHP 310 million five-year fixed-rate notes; HSBC; proceeds for capital expenditures, general corporate purposes; Pasig City, Philippines-based food and food transport conglomerate.

MANILA WATER CO.: PHP 3 billion five-year fixed rate unsubordinated unsecured bonds with PHP 1 billion greenshoe; Quezon, Philippines-based water delivery, sewerage and sanitation services provider.

METRO HOLDINGS LTD.: S$200 million in either floating-rate notes or a transferable loan facility; DBS; Singapore-based retailer.

SINOPEC: 20 billion yuan five- to 10-year domestic bonds; coupon will not exceed 90% of the central bank's loan rate; half of proceeds to improve Sinopec's debt structure, half for working capital; Beijing-based energy and natural resource developer.

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