Emerging markets calendar

WEEK OF SEPT. 25

GRUPO SENDA AUTOTRANSPORTE SA de CV: $200 million senior guaranteed notes due 2016 (/B+/B); Citigroup; Rule 144A/Regulation S; non-callable for five years; three-year 35% equity clawback; to refinance existing debt; transport company headquartered in Nuevo Leon, Mexico; roadshow during Sept. 18 week; pricing expected during Sept. 25 week.

SEPTEMBER

UNITED GULF BANK BSC: Dollar-denominated of lower tier II bonds; Morgan Stanley, ABN Amro, UBS; Bahrain-based investment-banking subsidiary of Kuwait Projects Co. (Kipco).

PROVINCE OF BUENOS AIRES: approximately $300 million in new debt in September; expected to be denominated in dollars, carry a tenor of 10 years.

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.

OCTOBER

RUSSIAN CREDIT BANK OF MOSCOW: Debut offering of dollar-denominated eurobonds (//B-); Merrill Lynch; Regulation S; roadshow is slated for Asia and Europe; Asian leg to begin on Sept. 21; CBOM Finance plc (Ireland) will issue; full-service commercial and consumer bank operating across Moscow and the Moscow region.

ON THE HORIZON

BANK KHRESCHATYK: Dollar-denominated loan participation notes due 2009 (B2//B); Deutsche Bank; initial price guidance 9%; special-purpose vehicle of Ukraine's Bank Khreschatyk, financial institution headquartered in Kiev (postponed on Sept. 21).

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.

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 in Manila, the Philippines, on April 20, Hong Kong and Singapore on April 21, Zurich, Switzerland, 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)

PT INDOFOOD SUKSES MAKMUR: $250 million to $300 million bonds; to refinance company's bonds due 2007; world's largest instant noodle maker; based in Jakarta, Indonesia.

ROADSHOWS

Week of Sept. 18: GRUPO SENDA AUTOTRANSPORTE SA de CV: $200 million senior guaranteed notes due 2016 (/B+/B); Citigroup

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.