Emerging markets calendar

WEEK OF JAN. 30:

LITHUANIA: €400 million add-on to 3¾% eurobonds due Feb. 10, 2016; Deutsche Bank, UBS; original issue priced at 99.743 at mid-swaps plus 8 basis points in February 2005; expected to price this week.

PT DAVOMAS ABADI TBK: $150 million senior unsecured notes due 2011 (B2/B+); Lehman Brothers; Rule 144A/Regulation S; non-callable for three years; to refinance all existing debt, fund capital expenditures and for general corporate purposes; Jakarta, Indonesia-based producer and exporter of cocoa butter and cocoa powder; roadshow started Jan. 23 in Singapore, Jan. 24 in London, Jan. 25 in Boston, Jan. 26 in Los Angeles, Jan. 27 in New York; price talk 11% (revised from 10¼%-10½%).

THE EXPORT-IMPORT BANK OF KOREA (KEXIM): $1 billion equivalent global bonds in dollar-denominated and euro-denominated tranches (A3/A); Barclays Capital, Deutsche Bank, Morgan Stanley, Citigroup; Seoul-based official export credit agency providing export credit and project finance to support Korean enterprises in conducting business internationally.

VITRO ENVASES DE NORTEAMERICA: $75 million of senior secured guaranteed notes due Feb. 7, 2007; price talk at 7¾% to 8%; settlement on Feb. 7; subsidiary of Vitro, a glass manufacturer in Mexico

WEEK OF FEB. 6:

FEDERATION TOWER MANAGEMENT JSC (MIRAX GROUP LLC): $100 million eurobonds due 2008; Bank Zenit (books), Alfa Bank (co); put-able in 12 months; residential and commercial real estate development company based in Moscow and St. Petersburg; initial guidance 9½%-9 5/8%; roadshow Feb. 2-9; pricing expected middle of Feb. 6 week.

FEBRUARY:

AES EL SALVADOR TRUST: $290 million of senior guaranteed notes due 2016 (Baa3/NR/BBB-); Credit Suisse; Rule 144A/Regulation S; for repayment and corporate purposes; guaranteed by Compania de Luz Electrica de Santa Ana, Compania de Alumbrado Electrico de San Salvador and Empresa Electrica del Oriente, S;an indirect subsidiary of AES and Energia Global International.

DOMINICAN REPUBLIC: $300 million in bonds; to repay debt owed to Spanish electricity company Union Fenosa.

REPUBLIC OF COLOMBIA: ¥22.5 billion Samurai bonds; Mizuho Corporate Bank; private placement; Japan Bank for International Cooperation will provide a guarantee on the principal and a part of the interest; to finance government projects, increase direct investment from overseas, including investments aimed at developing transport infrastructure, small- and medium-sized enterprises and supporting industries, and to improve domestic security.

ASTANA FINANCE BV: Three-year dollar denominated notes (Ba1//BB+); JP Morgan (books), TuranAlem Securities (co-lead); roadshow to run from Jan. 31 to Feb. 7, stops in Europe and Asia; JSC Astana Finance will guarantee; financial institution headquartered in Astana, Kazakhstan.

FIRST QUARTER 2006:

CENTRAIS ELETRICAS MATOGROSSENSES SA (CEMAT) and CENTRAIS ELETRICAS DO PARA SA (CELPA): Each plan to sell $50 million in six-year unsecured senior notes (/B-/); Unibanco Securities Inc, Merrill Lynch; Rule 144A/Regulation S transaction; Brazilian utility companies, CEMAT serves the state of Mato Gross, CELPA serves entire state of Para.

REPUBLIC OF INDONESIA: Expected $1 billion global bonds (sovereign rated B2/B+) with a maturity of 10 years or greater; syndicate expected to include Barclays Capital, JP Morgan, Morgan Stanley and UBS; expected to launch after Chinese New Year (Jan. 29).

METROPOLITAN AND TRUST COMPANY (METROBANK): $100 million to $125 million of hybrid tier I securities; non-callable for 10-years with a step-up; if not called, the coupon will step up based on the greater of 100 basis points or 50% of the credit spread added to the base rate; financial institution is based in Makati City; expected first quarter.

EMERGING MARKET OFFERINGS ON THE HORIZON:

BAOSHAN IRON AND STEEL CO. LTD. (BAOSTEEL): Dollar-denominated offshore bond (issuer rating BBB+); Morgan Stanley; Shanghai-based steel company.

COMPANIA DE TRANSPORTE DE ENERGIA ELECTRICA (TRANSENER): $350 million of bonds; Buenos Aires-based electric company.

PT ENERGI MEGA PERSADA TBK: $500 million in bonds; to finance expansion and to repay debt; Jakarta-based oil and gas company.

PT INTERNATIONAL NICKEL INDONESIA: $300 million global bonds with five-year to 10-year maturity; Morgan Stanley, JP Morgan; to fund capital expenditures and general corporate purposes; Jakarta, Indonesia-based nickel mining and smelting company.

PT INDOFOOD SUKSES MAKMUR: $250 to $300 million bonds; to refinance company's bond due 2007; world's largest instant noodle maker; based in Jakarta, Indonesia.

LAND BANK OF THE PHILIPPINES: Up to $200 million of five- to seven-year international bonds; Deutsche Bank Securities; Philippines fourth largest lender.

MOBILE TELECOMMUNICATIONS CO.: May issue bonds for its $3.36 billion acquisition of mobile phone businesses in Africa; telecommunications company in Kuwait.

TÜRKIYE VAKIFLAR BANKASI TAO (VAKIFBANK): Dollar-denominated senior unsecured bonds (Baa2 expected); ABN Amro, Citigroup, JP Morgan; Rule 144A/Regulation S; through the issuer's Cayman Islands special-purpose vehicle; political risk insurance; letter of credit from ABN Amro

TATFONDBANK: $50 million two-year credit-linked senior unsecured notes (issuer rating B3); Trust Investment Bank; Regulation S-only; one-year put option at par; regional bank related to the government of the Tatarstan republic.

PT BANK MANDIRI: $300 million global bonds maturing in three-to-five years; Credit Suisse First Boston; medium term notes program; to refinance debt; Indonesian state-owned lender, based in Jakarta.

ZAPORIZHSTAL INTEGRATED IRON & STEEL WORKS JSC: $300 million bonds; Deutsche Bank, JP Morgan; debut deal; based in Zaporozhe, Ukraine; one of the largest industrial enterprises in Ukraine.

ROADSHOWS

Jan. 23-27: PT DAVOMAS ABADI TBK: $150 million senior unsecured notes due 2011 (B2/B+); Lehman Brothers

Jan. 31-Feb. 7: ASTANA FINANCE BV: Three-year dollar denominated notes (Ba1//BB+); JP Morgan

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