Emerging markets calendar

WEEK OF JULY 10:

ENERGISA SA: Dollar-denominated seven-year bonds (/B+/BB-); Merrill Lynch; Energipe SA, Saelpa SA will issue; Energisa will guarantee; to repay short-term debt; roadshow started on May 11 in Singapore, May 12 in Hong Kong, and in Europe from May 15 to 17; Brazilian holding company of three electricity distribution companies; pricing set at 10¾% to 11%; pricing Wednesday.

TNK-BP FINANCE SA: $1 billion two-part offering of five-year and 10-year bonds (Baa2/BB+/BB+); Credit Suisse, UBS, Citigroup, BNP Paribas; via TNK-BP International Ltd.'s existing $5 billion EMTN program; Moscow-based integrated oil company formed in 2003 from the merger of Russian companies Tyumen Oil Co. (TNK) and Sidanco with the majority of BP's Russian oil assets, the company is 50% owned by BP and 50% by a group of Russian investors; roadshow started July 10 week; talk for five-year notes is Treasuries plus 187.5 to 200 basis points, talk on the 10-year notes is Treasuries plus 237.5 to 250 basis points; pricing by Thursday.

JSC KAZKOMMERTSBANK: $200 million offering of 10-year subordinated loan participation notes (Baa3/BB-/BB); Dresdner Kleinwort Wasserstein; Regulation S; talk at 8¼% to 8½%; non-callable for five years, if not called, coupon step up; full-service bank with headquarters in Almaty, Kazakhstan.

MDM BANK OAO: Benchmark-sized offering of dollar-denominated lower tier II notes (Ba3/B- expected); Goldman Sachs; Regulation S; talk at 9¾% to 10%, Moscow-based Russian financial institution.

WEEK OF JULY 14:

DIGICEL LTD: $150 million add-on to 9¼% senior notes due Sept. 1, 2012 (B3//B); Citigroup, JP Morgan; Rule 144A/Regulation S; callable Sept. 1, 2009 at 104.625, 102.313, par on and after Sept. 1, 2011; equity clawback until Sept. 1, 2008 for 35% at 109.25; roadshow July 14 in London, July 17 in Boston, July 18 in New York; brings total size of deal to $450 million; original $300 million issue priced at par on July 21, 2005; Kingston, Jamaica-based wireless operator.

JULY:

PT MATAHARI PUTRA PRIMA TBK: $150 million of five-year bonds (B1); Credit Suisse, UBS; Indonesian retailer; price talk at 9% area.

INVESTCORP BANK (Baa2/BBB): Dollar-denominated tier I perpetual preferred notes (expected ratings Ba1/BB+); BNP Paribas, Credit Suisse, Deutsche Bank (joint lead managers); Regulation S-only; non-callable for 10 years; will contain coupon step-up; financial institution based in Manama, Bahrain; price talk 10-year mid-swaps plus 350 bps (9.05% area); roadshow concluded June 7; timing to be determined.

PUBLIC BANK BHD.: Dollar-denominated tier I securities maturing in 2036 via stock settlement; (Baa2/BBB); Barclays Capital; Regulation S; non-callable for 10 years (100 bps coupon step-up if not called); roadshow started June 1 in Singapore, Hong Kong and London.

COALCORP MINING INC.: Dollar-denominated units comprised of $1,000 senior unsecured note maturing in five years and one day and 190 common share purchase warrants, deal size to be determined; GMP Securities, Canaccord Capital, Sprott Securities; registered in Ontario, Manitoba, Alberta and British Columbia; to help fund investments in infrastructure projects in Colombia totaling $125 million; Toronto-based mining, exploration and development company with interests in the La Francia and La Caypa coal mines and related infrastructure projects and a number of coal exploration properties, all located in Colombia; roadshow started early June 26 week.

ON THE HORIZON:

REPUBLIC OF THE PHILIPPINES: Up to $1 billion global bonds to complete $3.1 billion 2006 financing target; expected Citigroup, Deutsche Bank, JP Morgan.

MEGAWORLD CORP.: Dollar-denominated bonds; to fund various projects; expected second half of the year; Makati city, Philippines-based property developer.

RIZAL COMMERCIAL BANKING CORP: $100 million in hybrid tier 1 debt; Citibank, Deutsche Bank; Makati City, Philippines-based private domestic commercial bank.

ARAB BANKING CORP: Benchmark-sized offering of senior floating-rate notes; (Baa2/BBB/BBB+ issuer); Barclays Capital, BNP Paribas; off $2.5 billion euro medium-term note deposit program; Bahrain-based bank.

FOSUN INTERNATIONAL LTD.: $500 million global bonds due 2013; Deutsche Bank, Citigroup; Shanghai, China, company with operations in the steel, real estate and pharmaceutical sectors; launch thought to be imminent.

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)

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.

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.

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.

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:

June 2-7: INVESTCORP BANK: Dollar-denominated tier I perpetual preferred notes (Ba1/BB+); BNP Paribas, Credit Suisse, Deutsche Bank (joint lead managers)

Started June 1: PUBLIC BANK BHD.: Dollar-denominated tier 1 securities maturing in 2036 via stock settlement; (Baa2/BBB); Barclays Capital

Started early June 26 week: COALCORP MINING INC. Dollar-denominated notes and warrants; GMP Securities

Started July 10 week: TNK-BP FINANCE SA: $1 billion in five- and 10-year notes; Credit Suisse, UBS, Citigroup, BNP Paribas

Starts July 14-17: DIGICEL LTD: $150 million add-on to 9 ¼% senior notes due Sept. 1, 2012 (B3//B); Citigroup, JP Morgan

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