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.

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

PT PERUSAHAAN LISTRIK NEGARA: 1.5 trillion rupiah multi-tranche bonds; offer includes 500 billion rupiah five- to seven-year sukuk; Jakarta-based government-run energy firm; pricing expected in January.

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.

SLOVENIA: €1 billion three- to five-year eurobonds (Aa2/AA/AA); Societe Generale, JPMorgan, UniCredit Banka (joint books); roadshow, pricing expected first quarter 2009.

YPF SA: $150 million senior unsecured notes due 2018 (BB+); BNP Paribas; to partially finance capital expenditures program; Buenos Aires, Argentina, energy company controlled by Spain's Reposol YPF; notes sale to be conducted in local market, with timing to be determined.

LOCAL CURRENCY

ABOITIZ POWER CORP.: At least PHP 3.56 billion five- and seven-year fixed-rate notes; private placement to a maximum of 19 institutional investors; BDO Capital & Investment, BPI Capital, First Metro, ING (joint books); Cebu City, Philippines-based operator of hydroelectric power generation facilities and thermal plants.

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.

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.

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.

DALIAN PORT CO. LTD.: 2.5 billion yuan minimum five-year notes or corporate bonds; proceeds to meet future business development needs, lower finance costs; Dalian City, China-based company owns and manages the Port of Dalian.

GLOBE TELECOM INC.: PHP 5 billion bond from PHP 10 billion program; Mandaluyong City, Philippines-based telecom; pricing expected in early 2009.

MANILA ELECTRIC CO.: PHP 5 billion two tranche issue; one-year floating-rate notes, five-year fixed-rate notes; proceeds for general corporate purposes; Manila-based energy firm; pricing expected Jan. 2.

MANILA WATER CO.: PHP 3 billion 8¼% five-year unsubordinated unsecured bonds due October 2013 with PHP 1 billion greenshoe; Quezon, Philippines-based water delivery, sewerage and sanitation services provider.

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.

ROADSHOWS

First quarter 2009: SLOVENIA: €1 billion three- to five-year eurobonds (Aa2/AA/AA); Societe Generale, JPMorgan, UniCredit Banka (joint books)

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