Emerging markets calendar: AES Panama to sell $300 million in 10-year notes

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 8½ years; non-callable for five years; roadshow in Singapore on Dec. 7, Hong Kong on Dec. 8, London on Dec. 11, United States from Dec. 12 through Dec. 15; for the company's current cash tender offer; Buenos Aires-based electric company

AES PANAMA SA: $300 million in 10-year senior notes (/BBB-/BBB-), Credit Suisse (books); UBS (co-manager); Rule 144A/Regulation S; for the repayment of existing debt, dividend payments to shareholders, general corporate purposes; subsidiary of global power company AES Corp.

ON THE HORIZON:

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).

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

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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