Emerging markets calendar: Xinhua Finance to sell $100 million in notes

WEEK OF OCT. 30:

GREENTOWN CHINA HOLDINGS LTD.: $375 million to $400 million senior unsecured notes due 2013 (Ba2/BB); JP Morgan, UBS (joint); Rule 144A/Regulation S; non-callable for four years; to fund land acquisitions, development costs and for general corporate purposes; mainland China property developer; yield guidance 9 1/8% area; roadshow London on Nov. 1, New York on Nov. 2, pricing thereafter.

XINHUA FINANCE LTD.: $100 million offering of five-year senior unsecured notes (B2/B+); ABN Amro; Regulation S; make-whole call; equity clawback provision; roadshow in Singapore on Oct. 30, Hong Kong on Oct. 31, London on Nov. 1; issuer's principal activity is the provision of China-specific indexes, financial news feeds, credit ratings, and investor relations.

JSC ATF BANK: $100 million offering of perpetual non-cumulative hybrid tier I notes (Ba3/CCC+); HSBC, ING; Regulation S; guidance set at 10% to 10¼%; callable in the tenth year at par, if not called, coupon steps up to Libor plus 150% of initial credit spread; commercial bank is based in Almaty, Kazakhstan.

JETFINANCE INTERNATIONAL AD: Euro-denominated offering of three-year senior unsecured notes (B2/B), Citigroup; Regulation S; off euro medium-term note program; first non-bank consumer finance company in Bulgaria.

BANCO SCHAHIN SA: Dollar-denominated notes due 2016 (expected B2); Dresdner Kleinwort; Rule 144A/Regulation S; non-callable for five years; Brazilian commercial bank headquartered in Sao Paolo; presently in the market.

WEEK OF NOV. 6

BANK SAINT-PETERSBURG OJSC: Inaugural offering of dollar-denominated bonds (B1/-/B); ABN Amro, Dresdner Kleinwort; Regulation S; roadshow in Singapore on Nov. 2, Hong Kong Nov. 3, Geneva and Zurich on Nov. 6, London on Nov. 7, Germany on Nov. 8; private bank in the St. Petersburg area, focuses on commercial banking operations.

JSC ASTANA FINANCE OF KAZAKHSTAN: Dollar-denominated offering of five-year eurobonds (Ba1//BB+); JP Morgan; Regulation S; roadshow in Seoul on Nov. 1, Hong Kong on Nov. 2, Singapore on Nov. 3; London on Nov. 6, Copenhagen on Nov. 7, Frankfurt and Munich on Nov. 8; financial institution with headquarters in Astana, Kazakhstan.

PARKSON RETAIL GROUP LTD.: Debut offering of $200 million in five-year senior bonds (Ba1); JP Morgan; Regulation S; roadshow in Singapore Nov. 2, Hong Kong on Nov. 3, London on Nov. 6; Chinese retail chain owned by Malaysia's Lion Group.

ON THE HORIZON

MARFRIG OVERSEAS LTD.: $250 million of 10-year unsecured senior notes (B1/B+); Merrill Lynch; Rule 144A/Regulation S; Sao Paolo-based beef exporter.

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).

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.

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.

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

Oct. 30-Nov.1: XINHUA FINANCE LTD.: $100 million five-year senior unsecured notes (B2/B+); ABN Amro

Nov. 1-7: JSC ASTANA FINANCE OF KAZAKHSTAN: Dollar-denominated offering of five-year eurobonds (Ba1//BB+); JP Morgan

Nov. 2-7: BANK SAINT-PETERSBURG OJSC: Dollar-denominated bonds (B1/-/B); ABN Amro, Dresdner Kleinwort

Nov. 2-6: PARKSON RETAIL GROUP LTD.: $200 million in five-year senior bonds (Ba1); JP Morgan

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