Emerging markets calendar

WEEK OF APRIL 3:

GRUPO GIGANTE SA DE CV: $250 million in 10-year senior unsecured bonds (/BB/BB); ABN Amro; Rule 144A/Regulation S; non-callable for five years; high yield covenant package; Mexico City-based retailer; price guidance set at 8¼% area or 300 basis points more than the five-year swap rate.

KOREA ZINC COMPANY, LTD.: $100 million of three-year floating rate notes; ABN Amro; for general corporate purposes; Seoul-based manufacturer and refiner of non-ferrous metals including zinc, lead and nickel for use in steel, automobiles, and the construction industry.

BANK ALLIANCE (KAZAKHSTAN): Dollar-denominated two-part offering of senior notes and subordinated tier I perpetual notes; tranche size of the senior notes (Ba2/-/BB-), with a maturity of five- to seven-years, is to be announced; tranche of perpetual notes (B1) is expected to be $100 million to $150 million.

IMPERIAL MOBILITY FINANCE BV (IMPERIAL HOLDINGS LTD.): €300 million eurobonds with seven-year to 10-year maturity (Baa1); ABN Amro, Barclays Capital; inaugural eurobond issue; for general corporate purposes including recently announced acquisitions and the reduction of short-term debt; diversified South African holding company, headquartered in Johannesburg; roadshow began March 27 week in Europe.

METROFINANCIERA: $100 million perpetual notes (expected B-); Dresdner Kleinwort Wasserstein; non-callable for 10 years; Mexican mortgage and construction lender; investor presentations March 30 in Hong Kong, March 31 in Singapore.

KREMIKOVTZI STEEL AD: €300 to €350 million senior secured notes due 2013; Merrill Lynch; Regulation S; non-callable for four years; 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; roadshow imminent, expected to run through week of March 27

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.

GLOBO COMUNICACAO E PARTICIPACOES: $250 million offering of perpetual fixed rate senior unsecured securities (/BB-); Deutsche Bank, Goldman Sachs; Regulation S; non-callable for three-years in whole or in part with a minimum $150 million remaining after call; roadshow is scheduled to start in Hong Kong on April 3, Singapore on April 4, Zurich on April 5, Lisbon on April 6; to refinance Class C senior secured notes; Rio de Janeiro-based media company.

EMERGING MARKET OFFERINGS ON THE HORIZON:

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.

SWIRE PACIFIC MTN FINANCING LTD. (SWIRE PACIFIC LTD.): HK$1.8 billion notes due 2013 (A3); HSBC; for general corporate funding requirements; Hong Kong-listed Swire Pacific has property, aviation, beverages, marine services and trading and industrial interests.

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:

Started March 27: IMPERIAL MOBILITY FINANCE BV (IMPERIAL HOLDINGS LTD.): €300 million eurobonds with seven- to 10-year maturity (Baa1); ABN Amro, Barclays Capital

Week of March 27: KREMIKOVTZI STEEL AD: €300-€350 million senior secured notes due 2013; Merrill Lynch

March 30-31: METROFINANCIERA: $100 million perpetual notes (expected B-); Dresdner Kleinwort Wasserstein

April 3-6: GLOBO COMUNICACAO E PARTICIPACOES: $250 million offering of perpetual fixed rate senior unsecured securities (/BB-); Deutsche Bank, Goldman Sachs

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