Emerging markets calendar

MAY

SABIC CAPITAL: Planned offering of five-year senior unsecured notes (expected ratings A1/A+/A+); JPMorgan, HSBC, RBS; Regulation S only; talked at mid-swaps plus 175 basis points; proceeds to refinance debt; petrochemical, fertilizer and metals conglomerate 70%-owned by the Kingdom of Saudi Arabia and based in Riyadh.

ARGENTINA: Planned $1 billion 8¾% global bonds due 2017; part of debt-swap plan; Barclays Capital, Citigroup Global Markets, Deutsche Bank Securities.

IRSA INVERSIONES Y REPRESENTACIONES SA: Planned $250 million 10-year notes; Citigroup, Banco Itau, Santander; Rule 144A/Regulation S; proceeds to refinance or repay indebtedness, for capital contributions to subsidiaries, for investments in assets and for funding of working capital; Buenos Aires-based real estate, shopping center and hotel company.

MOBILE TELESYSTEMS: Planned 10-year eurobond issue (//BB+); Bank of America Merrill Lynch, Credit Suisse, RBS; roadshow began May 18 in United States and Europe; whispered at 8%; Moscow-based mobile phone company.

INDOSAT: Planned dollar-denominated fixed-rate senior notes due 2020 (expected ratings Ba1//BBB-); size could exceed $750 million; Citi, DBS Bank Ltd., Deutsche Bank, HSBC, RBS; Rule 144A/Regulation S; roadshow in Asia, the United States and Europe started May 12; proceeds to refinance $235 million guaranteed notes due in November and $109 million guaranteed notes due 2012; launch subject to market conditions; telecommunications and information service provider based in Jakarta, Indonesia and 65%-owned by Qatar Telecom.

ON THE HORIZON

FINSPACE SA: $460 million senior unsecured notes due 2015 (B1/B+/B+); Citigroup, Credit Suisse, Barclays Capital, Morgan Stanley; non-callable for three years; proceeds for plate mill expansion, debt refinancing, acquisition and general corporate purposes; Bangkok-based manufacturer and fabricator of pipes and related components for use in the petrochemical sector; global roadshow started April 29 and extended into May 10 week.

ALBANIA: Dollar-denominated bonds; total could be $300 million; delayed; JPMorgan, Deutsche Bank.

NATIONAL AGRICULTURAL COOPERATIVE FEDERATION (NONGHYUP): Planned dollar-denominated benchmark bonds; Citigroup, Credit Agricole CIB, RBS, Morgan Stanley, ING; agricultural cooperative banking organization based in Seoul, South Korea.

ZHAIKMUNAI: Planned issue of notes (B3); Citibank, JPMorgan, ING; oil exploration, development and production company based in Kazakhstan.

UKRAINE: Planned issue of eurobonds; JPMorgan, VTB, Morgan Stanley; pricing expected in June.

MALAYSIA: Planned five-year dollar-denominated benchmark-sized sukuk offering; HSBC, CIMB; roadshow until May 27 in Asia, Middle East, Europe.

SBERBANK: Planned benchmark-sized eurobond; DZ Bank, JPMorgan, RBS; Moscow-based lender.

BBK: Planned dollar-denominated benchmark eurobond notes; Deutsche Bank, HSBC, Citigroup; retail lender part-owned by government of Bahrain.

IDBI BANK: Planned dollar-denominated bonds; Mumbai, India-based lender.

CHINA ORIENTAL GROUP CO. LTD.: Planned dollar-denominated issue of senior notes; Deutsche Bank, ING; Rule 144A/Regulation S; proceeds to fund working capital, capital expenditures and general corporate purposes, including possible acquisition; roadshow started May 3; integrated iron and steel manufacturer.

QATAR ISLAMIC BANK: Planned sukuk offering of up to $750 million; HSBC, Credit Suisse; lender based in Doha, Qatar.

ODEBRECHT FINANCE LTD: Dollar-denominated offering of perpetual step-up notes (expected ratings Baa3/BB/BB+); Credit Suisse, Banco Itau; Rule 144A/Regulation S; non-callable for five years; proceeds to refinance outstanding 9 5/8% perpetual notes; Salvador, Brazil-based business conglomerate.

TOURISM DEVELOPMENT & INVESTMENT CO.: Planned issue of 10-year bonds; Standard Chartered, Citigroup, BNP Paribas; government-owned hotel developer based in Abu Dhabi.

MOROCCO: Euro-denominated benchmark-sized issue of global bonds; Barclays, HSBC, Natixis; roadshow late April.

BANCO CRUZEIRO DO SUL (Ba2): Planned five-year notes; Bank of America Merrill Lynch, BCP Securities, UBS; whispered at 9% to 9½%; delayed; Sao Paulo-based lender.

SLOVAK REPUBLIC (A1/A+/A+): Euro-denominated benchmark-sized issue of 10-year notes; Barclays Capital, Deutsche Bank, Slovenska Sporitelna, ING; subject to market conditions.

REPUBLIC OF HUNGARY (Baa1/BBB-/BBB): Benchmark global notes due 2020; Citigroup, Deutsche Bank; SEC registered.

GULF INVESTMENT BANK: Expected dollar-denominated bonds or sukuk offering; Barclays Capital, GIB Financial, HSBC, UBS; timing and structure to be determined.

FIRST RAND LTD: Planned benchmark-sized five-year bonds; JPMorgan, Mitsubishi UFJ Financial Group, Standard Chartered, UBS; postponed; Johannesburg, South Africa-based financial services company.

LATVIA: Planned euro-denominated offering of notes; Citigroup, Credit Suisse

VNESHECONOMBANK (VEB): Eurobonds; Barclays, Citigroup, HSBC, Societe Generale, ING, Troika Dialog and VTB Capital; Moscow-based Bank for Development and Foreign Economic Affairs.

ROADSHOWS

Started April 29: FINSPACE SA: $460 million senior unsecured notes due 2015; Citigroup, Credit Suisse, Barclays Capital, Morgan Stanley.

May: SBERBANK: Planned benchmark-sized eurobond; DZ Bank, JPMorgan, RBS.

Started May 3: CHINA ORIENTAL GROUP CO. LTD.: Planned dollar-denominated issue of senior notes; Deutsche Bank, ING.

Started May 12: INDOSAT: Planned dollar-denominated fixed-rate senior notes due 2020; Citi, DBS Bank Ltd., Deutsche Bank, HSBC, RBS.

Week of May 17: IRSA INVERSIONES Y REPRESENTACIONES SA: Planned $250 million 10-year notes; Citigroup, Banco Itau, Santander.

Started May 18: MOBILE TELESYSTEMS: Planned eurobond issue of notes; Bank of America Merrill Lynch, Credit Suisse, RBS.

May 20-25: SABIC CAPITAL: Planned offering of senior unsecured notes; JPMorgan, HSBC, RBS.

May 19-27: MALAYSIA: Planned five-year dollar-denominated benchmark-sized sukuk offering; HSBC, CIMB.

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