Emerging markets calendar

WEEK OF MAY 1:

JSCB BANK OF MOSCOW (via special purpose vehicle KUZNETSKI CAPITAL SA): Benchmark-sized dollar-denominated senior loan participation notes due 2013 (expected ratings Baa1//BBB-); Barclays Capital, JP Morgan; Rule 144A/Regulation S; price guidance mid-swaps plus 170-175 bps; pricing Thursday.

JSC SIBACADEMBANK: Dollar-denominated fixed-rate loan participation notes due 2009 (B1//B); ABN Amro, Citigroup (joint); Rule 144A/Regulation S; full-service bank headquartered in Novosibirsk, Russia; investor meetings May 2 in Boston, May 3 in Switzerland, May 4 in London, pricing to follow; price guidance set at 9% to 9¼%; pricing Friday or Monday, May 8.

WEEK OF MAY 8:

BANCO BMC SA: Dollar-denominated senior eurobond notes due 2008; Standard Bank plc; Regulation S, to price off $200 million medium-term notes program; commercial bank headquartered in Sao Paulo, Brazil; price guidance 8 5/8%-8 7/8%; expected to launch and price during May 8 week.

TRANSTEL INTERMEDIA SA: $165 million of 10-year senior notes (/B-/CCC+); non-callable for five years; Morgan Stanley; Regulation S; price talk at 11% area; to refinance debt, including the tender for the company's 12½% senior notes, for other corporate purposes. roadshow runs April 24-May 5; stops in Asia, London, United States; privately-owned fixed-line telecommunications company in Colombia; expected during the week of May 8.

GALLERY CAPITAL: $150 million of seven-year senior secured notes (Caa1/B-); Citigroup; Rule 144A for life/Regulation S; four years of call protection; to repay debt, to fund an acquisition and capital expenditure; special purpose vehicle of Russian outdoor advertising network Gallery Group.

MAY:

SOUTHERN COPPER CORP.: $400 million reopening of 7½% bonds due July 27, 2035 (Baa2/BBB-/BB+); Citigroup; Rule 144A/Regulation S; miner of copper, molybdenum, zinc, silver, gold and lead in Chile, Mexico, Peru; formerly known as Southern Peru Copper Corp.; based in Phoenix, Ariz.

EMERGING MARKET OFFERINGS ON THE HORIZON:

SAN MIGUEL CAPITAL FUNDING LTD.: Benchmark-sized offering of dollar-denominated perpetual non-cumulative non-voting preferred shares; (expected Ba3); Citigroup, Credit Suisse, Deutsche Bank; HSBC; Regulation S; roadshow started Manila on April 20, Hong Kong and Singapore on April 21, Zurich on April 24, and London on April 25; callable in the fifth year. The preferreds will be non-cumulative non-voting; Cayman Islands-registered special purpose unit of beverage and food conglomerate San Miguel Corp.; proceeds will be used by the parent company; price guidance at 9% area (postponed on April 28)

VIMPEL-COMMUNICATIONS SA: $500 million in loan participation notes (Ba3/BB/); for development and expansion of network; Moscow-based mobile phone provider.

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.

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.

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:

April 24-May 5: TRANSTEL INTERMEDIA SA: $165 million of 10-year senior notes (/B-/CCC+); Morgan Stanley

May 2-4: JSC SIBACADEMBANK: Dollar-denominated fixed-rate loan participation notes due 2009 (B1//B); ABN Amro, Citigroup (joint)

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