Emerging markets calendar: Gazprom, Hutchison to price

WEEK OF NOV. 13:

OJSC GAZPROM: Approximately $2 billion equivalent notes due November 2016 (Baa1/BBB-/BBB-); $1.35 billion at mid-swaps plus 110 bps, €500 million at mid-swaps plus 118 bps; Credit Suisse, UBS; Rule 144A/Regulation S; pricing expected Friday.

HUTCHISON WHAMPOA UK PLC: £500 million in unsecured notes (A3/A-/A-) due November 2017, price guidance Gilts plus 105 bps, and due November 2026, price guidance Gilts plus 127 bps; ABN Amro, The Royal Bank of Scotland; to refinance the existing debt of Hutchison Whampoa's subsidiaries; expected to launch and price on Friday.

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.

NET SERVICOS DE COMUNICACAO: $150 million perpetual bonds (/BB-); Deutsche Bank; Rule 144A/Regulation S; roadshow started 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.

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

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.

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.

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

Started 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

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