Emerging markets calendar: VTB24 Capital to sell notes

WEEK OF NOV. 27:

VTB24 CAPITAL PLC (core subsidiary of Vneshtorgbank): Dollar-denominated loan participation notes with expected maturity of three years (A2/BBB+/BBB+); Citigroup, Deutsche Bank, JP Morgan (joint); roadshow in Hong Kong on Nov. 23, Singapore on Nov. 24, Europe on Nov. 27.

TRUE MOVE CO. LTD.: $450 million senior notes with expected structure to be seven-year tenor, non-callable for four years (B2/B-); Citigroup, Deutsche Bank; Rule 144A/Regulation S; to repay senior secured domestic bonds; Bangkok, Thailand, wireless telecommunications company; roadshow in Singapore on Nov. 23, subsequent presentations in Europe and United Stares.

REPUBLIC OF KOREA (A3/A/A+): $1 billion equivalent offering of global bonds to be issued in 10-year dollar- and 15-year euro-denominated tranches; Barclays Capital, Citigroup, Credit Suisse, Korea Development Bank (joint); SEC registered; roadshow in Hong Kong on Nov. 27, Paris on Nov. 28, London on Nov. 29; pricing Nov. 29.

GOVERNMENT OF BARBADOS: Reopening of 6 5/8% bonds (Baa2/BB+) to add $65 million; Deutsche Bank; Rule 144A/Regulation S; price guidance at Treasuries plus 185 to 195 basis points, would bring total size to $190 million.

WEEK OF DEC. 4:

BANK PETROCOMMERCE: Dollar-denominated three-year senior notes (Ba3/B+); ING, Merrill Lynch & Co. (joint); Regulation S-only; Russian financial institution; roadshow Nov. 27 in Singapore, Nov. 28 in Manila, Nov. 29 in Hong Kong, Nov. 30 in London, Dec. 1 in Zurich and Geneva, Dec. 4 in Frankfurt and Vienna.

NAKILAT INC: $1.1 billion of senior and subordinated bonds; Lehman Brothers, Credit Suisse; Rule 144A/Regulation S (without registration rights); comprised of $850 million of 27-year senior bonds (Aa3/A+/A+), $250 million of 27-year subordinated bonds (A1/A-/A-); senior bonds with average life of 22 years, subordinated bonds with average life of 18 years; to finance up to 90% of the delivered costs of 16 large liquefied natural gas carriers to be built in Korea and chartered to upstream liquid natural gas projects in Qatar; wholly-owned subsidiary of Qatar Gas Transport Com; pricing is expected to take place towards the end of the week of Dec. 4.

ON THE HORIZON

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. 23 onwards: VTB24 CAPITAL PLC (core subsidiary of VNESHTORGBANK): Dollar-denominated loan participation notes with expected maturity of three years (A2/BBB+/BBB+); Citigroup, Deutsche Bank, JP Morgan

Nov. 23 onwards: TRUE MOVE CO. LTD.: $450 million senior notes with expected structure seven-year tenor, non-callable for four years (B2/B-); Citigroup, Deutsche Bank

Nov. 27- Dec. 4: BANK PETROCOMMERCE: Dollar-denominated three-year senior notes (Ba3/B+); ING, Merrill Lynch & Co.

Nov. 27-Nov. 29: REPUBLIC OF KOREA (A3/A/A+): $1 billion equivalent offering of global bonds to be issued in 10-year dollar- and 15-year euro-denominated tranches; Barclays Capital, Citigroup, Credit Suisse, Korea Development Bank (joint)

© 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.