Emerging markets calendar

WEEK OF MARCH 13:

NATIONAL COMMERCIAL BANK OF JAMAICA: $100 million series 2006-1 amortizing floating-rate notes due 2013 (Baa3/BBB-); Credit Suisse; Rule 144A/Regulation S; average life 4.625 years; straight line amortization beginning in third year; for general corporate purposes; full-service bank based in Kingston, Jamaica; pricing expected this week.

JSC KAZKOMMERTSBANK:: €200 million to €300 million offering of five-year fixed-rate bonds (Baa2/BB+); ABN Amro; Regulation S; revised price talk to 163 to 165 basis points over euro mid-swaps from 160 to 170 basis points; off the issuer's $1.5 billion medium-term note program; a full-service bank with headquarters in Almaty, Republic of Kazakhstan; pricing Thursday.

WEEK OF MARCH 20:

ABSOLUT CAPITAL (LUXEMBOURG) SA: Eurobonds (B1), size and maturity to be determined; Merrill Lynch International; Regulation S; debut eurobond; financing unit of Moscow-based Absolut Bank; roadshow to start this week in Asia, with Europe to follow.

MARCH:

GBP FINANCE PLC (GAZPROMBANK): $1 billion euro commercial paper; UBS; Regulation S; Gazprombank is the joint-stock bank of the Russian gas industry, with corporate headquarters in Moscow; marketing from late Feb. 13 week or early Feb. 21 week.

HUNGARY: Benchmark-sized sterling 10-year bond offering; Barclays Capital, Deutsche Bank, Lehman Brothers; expected to price in late March; for general funding purposes.

EMERGING MARKET OFFERINGS ON THE HORIZON:

KREMIKOVTZI AD: €300 million corporate bonds; to fund capital expenditures and planned investments for making the company environmental friendly, repay debt and for general operational and business purposes; Bulgaria's largest steel company, headquartered in Sofia.

PETROL AD (Bulgaria): €125 million fixed-rate global bonds due 2011; former state-owned monopoly fuel retailer, owns approximately 450 filling stations in Bulgaria, headquartered in Sofia; pending shareholder approval at meeting set for May 8.

NURBANK JSC: $200 million eurobonds; also $200 million of syndicated loans; Almaty, Kazakhstan financial institution.

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; 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; off medium-term note program; to refinance debt; Indonesian state-owned lender, based in Jakarta.

ROADSHOWS:

Week of March 13: ABSOLUT CAPITAL (LUXEMBOURG) SA: Eurobonds (B1), size and maturity to be determined; Merrill Lynch International

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