Emerging markets calendar

WEEK OF AUGUST 7:

PT POLYFIN CANGGIH: $75 million senior secured notes due 2011 and 250 warrants to purchase shares; Jefferies & Co.; private placement and Regulation S; non-callable for two years; two-year 35% equity clawback; to repay existing debt, for working capital and general corporate purposes; integrated producers of polyester chips and synthetic yarn in Indonesia, to be incorporated in The Netherlands (guarantors are incorporated in Indonesia, Singapore and the British Virgin Islands; the company's registered office is located in Bandung, Indonesia); roadshow in the U.K. during July 31 week, Asia on Aug. 7 and 8, U.S. on Aug. 9; pricing expected week of Aug. 7.

AUGUST:

CITY MORTGAGE BANK: $63.95 million offering of amortizing senior notes due 2033; MNB Capital Markets, Greenwich Financial Services LLC; Rule 144A/Regulation S; circa 3.6-year average life, Russian commercial bank, part of the Rosgosstrakh insurance group; expected to price by the end of the month.

PT MATAHARI PUTRA PRIMA TBK: $150 million of five-year bonds (B1); Credit Suisse, UBS; Indonesian retailer; price talk at 9% area.

INVESTCORP BANK (Baa2/BBB): Dollar-denominated tier I perpetual preferred notes (expected ratings Ba1/BB+); BNP Paribas, Credit Suisse, Deutsche Bank (joint lead managers); Regulation S-only; non-callable for 10 years; will contain coupon step-up; financial institution based in Manama, Bahrain; price talk 10-year mid-swaps plus 350 bps (9.05% area); roadshow concluded June 7; timing to be determined.

PUBLIC BANK BHD.: Dollar-denominated tier I 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 started June 1 in Singapore, Hong Kong and London.

ON THE HORIZON:

SMALL BUSINESS CORP: Dollar-denominated offering of 10-year bonds; Credit Suisse, Merrill Lynch, UBS; Korean government agency whose main objective is to promote small-sized businesses.

RIZAL COMMERCIAL BANKING CORP: $100 million in hybrid tier 1 debt; Citibank, Deutsche Bank; Makati City, Philippines-based private domestic commercial bank.

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.

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.

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.

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.

ROADSHOWS:

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

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

Started: CITY MORTGAGE BANK: $63.95 million offering of amortizing senior notes due 2033; MNB Capital Markets, Greenwich Financial Services LLC

Started during week of July 31: PT POLYFIN CANGGIH: $75 million senior secured notes due 2011 and 250 warrants to purchase shares; Jefferies & Co.

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