Emerging markets calendar: Ukraine to price $1 billion

WEEK OF NOV. 13:

AGROKOR DD: €150 million offering of five-year eurobonds (B2/B); ABN Amro (books); UniCredit Group (Co); Regulation S; roadshow in London on Nov. 6 Zurich and Geneva on Nov. 7, Vienna on Nov. 8, TBD on Nov. 9; Croatian producer of food and beverages; price guidance set at 7¼% area.

BANCO CRUZEIRO DO SUL SA: Dollar-denominated lower-tier II 10-year subordinated notes (B2); Dresdner Kleinwort; Regulation S; non-callable for five years; coupon steps up to 150% of the initial spread over Treasuries; initial guidance is 10¾% area; financial institution with offices in So Paulo and Rio de Janeiro; books currently open, no roadshow, pricing expected Nov. 13 week.

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.

PT BANK LIPPO TBK (via Cayman branch): $150 million 10-year lower-tier 2 notes (Ba3/B+); UBS; Regulation S; non-callable for five years; coupon step-up at the larger of 50% of initial spread to U.S. Treasuries or 100 bps; commercial bank headquartered in Karawaci, Tangerang, Banten, Indonesia, majority owned by Khazanah, the investment holding arm of the Government of Malaysia; price guidance 7 3/8% area; pricing expected Wednesday afternoon, London time.

VALE OVERSEAS LTD./COMPANHIA VALE do RIO DOCE (CVRD): $2.5 billion in tranches of 10-year and 30-year notes (expected ratings Baa3/BBB); Credit Suisse, UBS, Santander, ABN Amro; SEC registered; to refinance debt; CVRD is a global diversified mining company headquartered in Rio de Janeiro, Brazil; investor call Wednesday, roadshow in New York City, Boston, Los Angeles Wednesday and Thursday; pricing week of Nov. 14 following roadshow.

OJSC GAZPROM: Benchmark-sized notes offer expected in dollar- and euro-denominated tranches (Baa1/BBB-/BBB-); Credit Suisse, UBS; Rule 144A/Regulation S; roadshow started Nov. 13 in New York and Athens, Nov. 14 in Boston and Geneva, Nov. 15 in Vienna, Nov. 16 in London.

KOREA NATIONAL HOUSING CORP. (A3/A-): $500 million maximum five-year floating rate notes; Citigroup, Deutsche Bank, HSBC; Rule 144A/Regulation S; Seoul-based housing construction and urban redevelopment agency; price talk three-month Libor plus 27 to 30 bps; roadshow continues Wednesday in Boston.

NET SERVICOS DE COMUNICACAO: $150 million perpetual bonds (/BB-); Deutsche Bank; Rule 144A/Regulation S; roadshow starts on Nov. 14, stops in Zurich, Hong Kong, New York, Singapore; non-callable for three years; Brazil's largest cable television provider, based in Sao Paolo.

TEMIRBANK CAPITAL BV/JSC TEMIRBANK (B1//B-): Dollar-denominated five-year fixed-rate senior notes; Standard Bank plc; Regulation S; price guidance 9 3/8% area; full service Almaty, Kazakhstan-based bank; books expected to close Wednesday at the close of business, London time.

UKRAINE (B1/BB-/BB-): $1 billion (expected) 10-year sovereign bonds; Credit Suisse, Deutsche Bank, UBS; Rule 144A/Regulation S; initial guidance 10-year Treasuries plus 200 bps area; pricing expected Wednesday.

WEEK OF NOV. 20:

JSC KAZKOMMERTSBANK: Dollar-denominated offering of 10-year bonds (Baa2/BB+/BB+); Credit Suisse; ING; Rule 144A/Regulation S; roadshow start in Boston on Nov. 15, New York on Nov. 15, Los Angeles on Nov. 17 and London on Nov. 20; full-service bank with headquarters in Almaty, Republic of Kazakhstan.

MYRONIVSKY HLIBOPRODUCT (MHP): Dollar-denominated five-year notes (B2), size to be determined; Morgan Stanley; Ukrainian poultry producer; pricing expected Nov. 20 week

ON THE HORIZON

CJSC RUSSIAN STANDARD BANK: Dollar-denominated offering of 10-year fixed-rate notes (Ba3/B expected-); Citigroup, ING; Regulation S; non-callable in five years, if not called, coupon steps up by 150 basis points; Moscow-based consumer finance institution.

CLARENDON ALUMINA PRODUCTION LTD. (CAP): $200 million of 15-year senior unsecured notes (Ba2/B+); Rule 144/Regulation S; average life of 10 years; state-owned alumina producer; government of Jamaica will guarantee.

SHIMAO PROPERTY HOLDINGS LTD.: $500 million senior notes (Baa3/BB+) structured as fixed-rate notes or floating-rate notes due 2011 and fixed-rate notes due 2016, non-callable for five years; Morgan Stanley, Goldman Sachs & Co.; to finance the development of new projects, including the acquisition of new land bank, repay certain existing loans and finance existing projects; Shanghai-based developer; roadshow Nov. 9 in Singapore, Nov. 10 in Hong Kong, Nov. 14 in London, Nov. 15-20 in United States pricing after.

IMCOPA INTERNATIONAL SA: $100 million three-year bullet notes (/B/); ING; Regulation S; to refinance debt; family-owned company based in Parana state that produces non-genetically modified soybeans.

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).

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

Nov. 6-9: AGROKOR DD: €150 million offering of five-year eurobonds (B2/B); ABN Amro (books)

Nov. 10-14: UKRAINE: Benchmark-sized issue of dollar-denominated 10-year notes; Credit Suisse, Deutsche Bank, UBS

Nov. 9-20: SHIMAO PROPERTY HOLDINGS LTD.: $500 million senior notes (Baa3/BB+); Morgan Stanley, Goldman Sachs & Co.

Starts Nov. 14: NET SERVICOS DE COMUNICACAO: $150 million perpetual bonds (/BB-); Deutsche Bank

Nov. 13-16: OJSC GAZPROM: Benchmark-sized notes (Baa1/BBB-/BBB-); Credit Suisse, UBS

Nov. 15-20: JSC KAZKOMMERTSBANK: Dollar-denominated offering of 10-year bonds (Baa2/BB+/BB+); Credit Suisse; ING

Nov. 15-16: VALE OVERSEAS LTD./COMPANHIA VALE do RIO DOCE (CVRD): $2.5 billion in 10-year and 30-year notes (expected ratings Baa3/BBB); Credit Suisse, UBS, Santander, ABN Amro

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