Emerging markets calendar: Bank Petrocommerce to sell dollar-denominated notes

WEEK OF DEC 4:

BANK PETROCOMMERCE: Dollar-denominated three-year senior notes (Ba3/B+); ING, Merrill Lynch & Co. (joint); Regulation S; 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; price guidance set at 8¾% area.

ICICI BANK UK PLC: $150 million perpetual notes; Barclays Capital; non-callable for 10 years; subsidiary of Mumbai, India-based Icici Bank Ltd.; price guidance mid-swaps plus 145-150 bps.

TRUE MOVE CO. LTD.: Two-part dollar-denominated offering of senior notes(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.; guidance for seven-year fixed-rate notes set at 11% area, talk for five-year floating-rate non-call two notes set in the range of mid- to high 500 basis points over Libor.

HK FINANCE CO. LTD.: $100 million offering of five-year bullet senior bonds (B2/B+); Credit Suisse; Regulation S; price guidance at 10¼% to 10¾%; for new land acquisitions and for general corporate purposes; HKI Properties Ltd. and its non-People's Republic of China subsidiaries will guarantee; Hong Kong-incorporated private company and a mixed-use property developer in the PRC.

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 expected towards the end of the week of Dec. 4.

CHINA FISHERY GROUP LTD: $200 million of seven-year senior notes (B1); HSBC, roadshow is expected to start on Dec. 4; proceeds will be used to refinance a loan facility drawn down for the acquisition of Alexandra SAC in Peru, to repay loans, for general corporate purposes and to fund potential strategic investments; group's principal activities are the management and operation of fishing vessels for coastal and deep sea industrial fishing and sale of fish.

CEMEX SAB DE CV: Benchmark-sized two-part offering of dollar-denominated perpetual callable bonds (/BBB-/BBB); Barclays Capital, JP Morgan; Rule 144A/Regulation S; roadshow is scheduled to run from Dec. 5-Dec. 8, making stops in Los Angeles, New York, Boston, London; also be structured as fixed- to floating-rate securities: one tranche callable on Dec. 31, 2011 while the other tranche will be callable on Dec. 31, 2016; a step-up for both tranches; coupon will remain fixed until the call date, then the coupon will change to floating rate and step up to three-month Libor plus the sum of the Libor equivalent spread at the time of pricing plus 300 basis points; cement company based in Garza Garcia, Mexico.

SLAVINVESTBANK LLC (RUSSIA) (B1//B-): Dollar-denominated issue of three-year bonds; ABN Amro; Regulation S; roadshow started Dec. 4 in Hong Kong; Singapore Dec. 5, London on Dec. 6, Switzerland on Dec. 7, Germany on Dec. 8; Kazakhstan's Bank TuranAlem directly owns 15% of Slavinvest.

WEEK OF DEC. 11:

BANCO MACRO SA: $150 million offering of 30-year non-cumulative junior subordinated notes (B3//B-); Credit Suisse, UBS; Rule 144A/Regulation S (without registration rights); fixed-rate notes will be non-callable for 10-years; if not called, the coupon will change to floating rate, coupon steps up by 150% times the Libor spread at the time of pricing; roadshow in Singapore on Nov. 30, Hong Kong on Dec. 1, London on Dec. 4, New York on Dec. 5, Boston on Dec. 6, West Coast on Dec. 7; for general corporate purposes; Buenos Aires-based issuer is engaged in retail and commercial banking; pricing expected during the week of Dec. 11.

COMPAÑÍA DE TRANSPORTE DE ENERGÍA ELÉCTRICA EN ALTA TENSIÓN SA (TRANSENER): $220 million offering of amortizing notes due 2016 (B//B); Deutsche Bank (Books); Citigroup; Rule 144A/Regulation S; average life of 8 ½ years; non-callable for five-years; roadshow will start in Singapore on Dec. 7, Hong Kong on Dec. 8, off to London Dec. 11, United States from Dec. 12 through Dec. 15; for the company's current cash tender offer; Buenos Aires-based electric company.

TRISTAN OIL LTD.: $300 million of senior secured notes due 2011; Jefferies & Co; Rule 144A (no U.S. registration rights; roadshow from Dec. 1-Dec. 12; 2.5 years of call protection; to repay the existing debt of its affiliate, Tolkynneftegaz LLP (TNG), to make a distribution to company shareholders, and for working capital, for general corporate purposes of TNG and another Tristan affiliate, Kazpolmunay LLP (KPM); an oil and gas exploration and production company based in the British Virgin Islands - operates primarily in the former Soviet republic of Kazakhstan; guaranteed on a senior secured basis by TNG, KPM, and all future restricted subsidiaries of TNG and KPM.

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: TRUE MOVE CO. LTD.: Two-part offering of senior notes (B2/B-); Citigroup, Deutsche Bank

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

Nov. 30-Dec. 7: BANCO MACRO SA: $150 million offering of 30-year non-cumulative junior subordinated notes (B3//B-); Credit Suisse, UBS.

Dec. 1-12: TRISTAN OIL LTD.: $300 million of senior secured notes due 2011; Jefferies & Co.

Dec. 4-8: SLAVINVESTBANK LLC (RUSSIA) (B1//B-): Dollar-denominated issue of three-year bonds; ABN Amro

Dec. 5-8: CEMEX S.A.B. DE CV: Benchmark-sized two-part offering of dollar-denominated perpetual callable bonds (/BBB-/BBB); Barclays Capital, JP Morgan.

Dec. 7-15: COMPAÑÍA DE TRANSPORTE DE ENERGÍA ELÉCTRICA EN ALTA TENSIÓN SA (TRANSENER): $220 million offering of amortizing notes due 2016 (B//B); Deutsche Bank

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