Emerging markets calendar

WEEK OF JAN. 16:

BANCO HIPOTECARIO SA: Up to $100 million (upsized from $50 million) add on to 9¾% senior secured notes due Nov. 16, 2010 (B-); Deutsche Bank; Regulation S; Buenos Aires, Argentina, financial institution; original $150 million issue priced at 99.035 on Nov. 9, 2005; initial guidance 100.50 area.

WEEK OF JAN. 23:

COSAN SA: Maximum $250 million of perpetual bonds (issuer ratings Ba2); Credit Suisse, Morgan Stanley, Deutsche Bank; Rule 144A/Regulation S; roadshow to start in Singapore on Jan. 19, Hong Kong on Jan. 20 and Zurich on Jan. 23; callable after five years and then quarterly on coupon dates at par; initial price guidance set at 8½% area; Sao Paolo, Brazil-based sugar and ethanol producer.

BANK CENTERCREDIT: Dollar-denominated offering of five-year fixed-rate bonds (Ba1/BB-); Citigroup; ING; roadshow Jan. 18 to Jan. 25; Kazakhstan-based commercial bank.

GRUPO FRIBOI: debut offering of five-year dollar-denominated eurobonds (B1/B+); JP Morgan (books), ING; Regulation S; roadshow starts Jan. 19 in Hong Kong, Manila on Jan. 20, Singapore on Jan. 23, Zurich and Geneva on Jan. 24, London on Jan. 25; issued through JBS SA; guaranteed by relevant operating subsidiaries; Brazilian beef producer.

THE EXPORT-IMPORT BANK OF KOREA (KEXIM): $1 billion equivalent global bonds in dollar-denominated and euro-denominated tranches (A3/A); Barclays Capital, Deutsche Bank, Morgan Stanley, Citigroup; Seoul-based official export credit agency providing export credit and project finance to support Korean enterprises in conducting business internationally; expected to launch Jan. 23 week.

WEEK OF JAN. 30:

PT DAVOMAS ABADI TBK: $150 million senior unsecured notes due 2011 (B2/B+); Lehman Brothers; Rule 144A/Regulation S; non-callable for three years; to refinance all existing debt, fund capital expenditures and for general corporate purposes; Jakarta-based producer and exporter of cocoa butter and cocoa powder; roadshow starts Jan. 23 in Singapore, Jan. 24 in London, Jan. 25 in Boston, Jan. 26 in Los Angeles, Jan. 27 in New York; pricing expected Jan. 30 week.

JANUARY:

C&M FINANCE LTD.: $550 million in two tranches of senior unsecured notes (Ba2/BB+): five-year floating-rate notes, non-callable for life and 10-year fixed-rate notes, non-callable for five years, tranche sizes to be determined; Goldman Sachs, Citigroup (books); Rule 144A/Regulation S; to repay existing credit facilities, acquire minority interests in system operators, acquire competing system operators, fund capital expenditures and general corporate purposes; Seoul, Korea-based cable TV company; roadshow Jan. 12-20, Hong Kong on Jan. 12, Singapore on Jan. 13, London on Jan. 16, U.S. Jan. 17-20, pricing afterwards.

REPUBLIC OF POLAND: Benchmark-sized euro-denominated notes due 2016 (A2/BBB+/BBB+); Credit Suisse, Deutsche Bank, JP Morgan; Regulation S; non-callable; roadshow Jan. 18 in Munich, Jan. 19 in Vienna and Milan, Jan. 20 in Benelux, Jan. 23 in Paris and Dublin, Jan. 24 in London, pricing afterwards.

DOMINICAN REPUBLIC: $300 million in bonds; to repay debt owed to Spanish electricity company Union Fenosa.

REPUBLIC OF COLOMBIA: ¥22.5 billion Samurai bonds; Mizuho Corporate Bank; private placement; Japan Bank for International Cooperation will provide a guarantee on the principal and a part of the interest; to finance government projects, increase direct investment from overseas, including investments aimed at developing transport infrastructure, small- and medium-sized enterprises and supporting industries, and to improve domestic security.

FIRST QUARTER 2006:

REPUBLIC OF INDONESIA: Expected $1 billion global bonds (sovereign rated B2/B+) with a maturity of 10 years or greater; syndicate expected to include Barclays Capital, JP Morgan, Morgan Stanley and UBS; expected to launch after Chinese New Year (Jan. 29).

EMERGING MARKET OFFERINGS ON THE HORIZON:

AMMB HOLDINGS BHD.: Up to $200 million hybrid tier 1 preference shares (Ba2/BB); BNP Paribas, Credit Suisse, AmMerchant Bank (joint books), Regulation S; for general capital management and to fund the growth of business operations; a wholly owned subsidiary of AmBank Bhd., a financial services provider headquartered in Kuala Lumpur, Malaysia

BAOSHAN IRON AND STEEL CO. LTD. (BAOSTEEL): Dollar-denominated offshore bond (issuer rating BBB+); Morgan Stanley; Shanghai-based steel company.

COMPANIA DE TRANSPORTE DE ENERGIA ELECTRICA (TRANSENER): $350 million of bonds; Buenos Aires-based electric company.

PT ENERGI MEGA PERSADA TBK: $500 million in bonds; to finance expansion and to repay debt; Jakarta-based oil and gas company.

PT INTERNATIONAL NICKEL INDONESIA: $300 million global bonds with five-year to 10-year maturity; Morgan Stanley, JP Morgan; to fund capital expenditures and general corporate purposes; Jakarta, Indonesia-based nickel mining and smelting company.

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.

LAND BANK OF THE PHILIPPINES: Up to $200 million of five- to seven-year international bonds; Deutsche Bank Securities; Philippines fourth largest lender.

MOBILE TELECOMMUNICATIONS CO.: May issue bonds for its $3.36 billion acquisition of mobile phone businesses in Africa; telecommunications company in Kuwait.

TÜRKIYE VAKIFLAR BANKASI TAO (VAKIFBANK): Dollar-denominated senior unsecured bonds (Baa2 expected); ABN Amro, Citigroup, JP Morgan; Rule 144A/Regulation S; through the issuer's Cayman Islands special-purpose vehicle; political risk insurance; letter of credit from ABN Amro

VEDANTA RESOURCES PLC: $500 million minimum eurobond; Deutsche Bank; Merrill Lynch, Morgan Stanley; to repay debt and fund capital expenditures; mining and metals company with the majority of its assets in India, based in London; originally scheduled for fourth quarter of 2005.

TATFONDBANK: $50 million two-year credit-linked senior unsecured notes (issuer rating B3); Trust Investment Bank; Regulation S-only; one-year put option at par; regional bank related to the government of the Tatarstan republic.

PT BANK MANDIRI: $300 million global bonds maturing in three-to-five years; Credit Suisse First Boston; medium term notes program; to refinance debt; Indonesian state-owned lender, based in Jakarta.

ZAPORIZHSTAL INTEGRATED IRON & STEEL WORKS JSC: $300 million bonds; Deutsche Bank, JP Morgan; debut deal; based in Zaporozhe, Ukraine; one of the largest industrial enterprises in Ukraine.

ROADSHOWS

Jan. 12-20: C&M FINANCE LTD.: $550 million in two tranches of senior unsecured notes; Goldman Sachs, Citigroup

Jan. 18-24: REPUBLIC OF POLAND: Benchmark-sized euro-denominated notes due 2016; Credit Suisse, Deutsche Bank, JP Morgan

Jan. 18-25: BANK CENTERCREDIT: Dollar-denominated offering of five-year fixed rate bonds (Ba1/BB-); Citigroup; ING

Jan. 19-23: COSAN SA: Maximum $250 million of perpetual bonds (issuer ratings Ba2); Credit Suisse, Morgan Stanley, Deutsche Bank

Jan. 19-25: GRUPO FRIBOI: debut offering of five-year dollar-denominated eurobonds (B1/B+); JP Morgan (books), ING

Jan. 23-27: PT DAVOMAS ABADI TBK: $150 million senior unsecured notes due 2011 (B2/B+); Lehman Brothers

© 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.