Emerging markets calendar: Kenya, Belarus launch benchmark offerings

LATIN AMERICA

On The Horizon

SURINAME:

• Up to $75 million of 18-month notes

• Proceeds for budgetary purposes, including highway construction and hospital payments

• Regulation S

• Potential sources of repayment include certain state-owned assets and proceeds from liabilities

URUGUAY:

• Up to $2.7 billion in longer-dated dollar notes

• Proceeds for general budgetary purposes

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-rate notes

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

• Argentine cable television company subsidiary

GRUPO LOS GROBO:

• Dollar notes

• Buenos Aires-based agribusiness

COSTA RICA:

• $1 billion of 30-year notes

• Deutsche Bank, HSBC.

ASIA

On The Horizon

OVERSEAS-CHINESE BANKING CORP. LTD.:

• Euro-denominated offering of five-year notes

• Barclays, BNP Paribas, Nord/LB, OCBC Bank and UniCredit are bookrunners

• Regulation S

• Singapore-based lender

CARABAO PLC:

• Up to 5 billion baht of debentures in one or more tranches

• May be denominated in baht or other currencies

• Proceeds for refinancing, expand business and working capital

• Bangkok-based beverage company

KONG SUN HOLDINGS LTD.:

• Up to RMB 1 billion of green corporate bonds

• Up to five-year maturity

• To be issued by subsidiary Kong Sun Yongtai Investment Holdings Ltd.

• Proceeds for construction and repayment of solar power plant projects

• Hong Kong-based investment holding company

LENOVO GROUP LTD.:

• $3 billion medium-term note program

• Citigroup Group Markets Ltd. arranger

• Listing on the Stock Exchange of Hong Kong

• Beijing-based technology company

EMAMI INFRASTRUCTURE LTD.:

• An issue of nonconvertible debentures

• Kolkata, India-based real estate development company

STATE BANK OF INDIA:

• Up to Rs. 2 billion in one or more tranches

• May be dollar-denominated senior unsecured notes

• Mumbai-based banking and financial services company

HOUSING AND URBAN DEVELOPMENT CORP. LTD.:

• Up to Rs. 3 billion of three-year debt securities, raised from Rs. 2 billion

• Unsecured nonconvertible debentures

• Greenshoe

• Proposed listing on the BSE Ltd.

• New Delhi-based housing company

ASHIANA HOUSING LTD.:

• Up to Rs. 2.5 billion of debt securities

• Secured or unsecured nonconvertible debentures

• New Delhi-based real estate development company

JM FINANCIAL LTD.:

• Up to Rs. 6.5 billion of equity shares or debt instrument

• May be issued by institutions placement, private placement, public issue, preferential issue or other permissible mode

• Mumbai-based financial services group

ESSEL PROPACK LTD.:

• Up to Rs. 500 million unsecured redeemable nonconvertible debentures

• Private placement

• Mumbai-based special packaging company

GUANGZHOU CITY CONTRUCTION & DEVELOPMENT CO. LTD.:

• Up to RMB 7 billion guaranteed interest-bearing corporate bonds

• Guaranteed by Yuexiu Property Co. Ltd.

• Hong Kong-based property developer

QUANZHOU HUIXIN MICRO-CREDIT CL. LTD.:

• RMB 500 million of bonds

• Maturity of up to three years

• Guarantor Fujian Septwolves Group

• Proceeds to replenish working capital, repay bank loans and other purposes

• Quanzhou, Fujiuan-based finance company associated with the tobacco and clothing brand based in Ziamen, Fujian, China

RELIANCE HOME FINANCE LTD.:

• Rs. 20 billion of nonconvertible debentures, up to Rs. 75 million of warrants

• Qualified institutional placement

• Mumbai-based financial company

SATIN CREDITCARE NETWORK LTD.:

• Rs. 2 billion of nonconvertible debentures

• Private placement

• New Delhi-based non-banking financial company

CHINA CITIC BANK CORP. LTD.:

• Offshore issuance of dollar-denominated notes

• A prior proposed issue was for up to $1.8 billion

• The lender is based in Beijing

BANK OF CHONGQING CO. LTD.:

• Up to RMB 5 billion offshore preference shares

• Mandatorily convertible into H shares upon occurrence of specified events

• Regulation S

• The lender is based in Chongqing, China

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

SMC GLOBAL POWER CORP.:

• Plans PHP 20 billion offering despite approval for PHP 35 billion of debt securities

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

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

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

VARDHMAN TEXTILES LTD.:

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

• Ludhiana, India-based textile producer

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

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

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

EMERGING EUROPE & CENTRAL ASIA

On The Horizon

TRANS-OIL GROUP:

• $225 million of five-year notes

• Yield talked at 10% area

• Societe Generale and Renaissance Capital are bookrunners

• Regulation S

• Proceeds to refinance most of its secured debt

• Exporter of agricultural commodities from Moldova

BELARUS:

• $600 million of 12-year bonds

• Yield talked at 6.2%, revised from 6 ½%

• Citigroup and Raiffeisen Bank are bookrunners

• Rule 144A and Regulation S

SLOVENIA:

• Offering of euro notes

• Concurrent tenders and exchanges of existing bonds

• Barclays Bank plc, Deutsche Bank AG, London Branch, Goldman Sachs International Bank, HSBC Bank plc and J.P. Morgan Securities plc

• Regulation S

JSC GEORGIA CAPITAL:

• $300 million of five-year notes

• Roadshow meetings Feb. 22-23

• Citigroup, J.P. Morgan joint bookrunners with Renaissance Capital as joint lead manager

• Investment business holding company of BGEO Group, formerly Bank of Georgia Holdings plc

LUKOIL:

• International bond offering

• Expected to price in the first quarter ahead of April 24 maturity of $1.5 billion of notes

• Moscow-based oil and gas company

DOMODEDOVO AIRPORT:

• International bond offering

TRANS-OIL GROUP:

• International bond offering

• Roadshow meetings Feb. 12-16 in the U.K. Europe and Russia

• Renaissance Capital and Societe Generale

• Moldovan-based agro-industrial company

MIDDLE EAST and AFRICA

Week of Feb. 19

KENYA:

• International notes offering in 10-year and 30-year maturities

• Rule 144A and Regulation S

• Roadshow meetings Feb. 13-19 in Los Angeles, New York, Boston and the U.K.

• Citigroup, JPMorgan, Standard Bank and Standard Chartered are bookrunners

• S&P rated: B+; Moody’s rated: B2

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