Emerging markets calendar: Woori Bank to sell hybrid bonds

WEEK OF APRIL 23

WOORI BANK: Benchmark-sized offering of dollar-denominated hybrid bonds (Baa2/BBB/BBB+ expected); Credit Suisse, Merrill Lynch, HSBC, ABN Amro, Deutsche Bank, Woori Investment and Securities; Rule 144A/Regulation S; 30-year tenor; non-callable for 10 years; roadshow in Singapore and Los Angeles on April 20, London and Boston on April 23, New York on April 24; financial institution based in Seoul, Korea; price guidance set at Treasuries plus 160 bps area.

JSCB BANK OF MOSCOW: Dollar-denominated offering of 10-year lower tier II subordinated notes (Baa1/BBB-); Deutsche Bank, JP Morgan; Regulation S; simultaneous presentations in Hong Kong and Vienna on April 23, Singapore and Frankfurt on April 24, Dubai and London on April 25; non-callable for five years; loan participation notes to be sold via special purpose vehicle Kuznetski Capital SA; a full-service commercial bank; price guidance set at mid-swaps plus 190 basis points area.

TRANSCAPITALBANK (B1): Inaugural offering of dollar-denominated three-year senior unsecured eurobonds; ABN Amro, Deutsche Bank (joint books); Regulation S; roadshow in Asia from April 19 through April 20, European leg from April 23 through April 25; Moscow-based commercial bank; price guidance set at 9 ¼% to 9 ½%.

DESARROLLADORA METROPOLITANA SA DE CV: Inaugural offering of dollar-denominated 10-year senior notes (B2); Dresdner Kleinwort; Rule 144A/Regulation S; roadshow in Singapore on April 19, Hong Kong on April 20, London on April 23, Vienna and Frankfurt on April 24, Geneva and Zurich on April 25, New York on April 26, Boston on April 27; non-callable for five years; Mexico City-based issuer involved in home building and construction.

BANCO MERCANTIL DO BRASIL (B1/B): Dollar-denominated offering of five-year amortizing notes; Dresdner Kleinwort; Regulation S; investor presentations in Singapore on April 18, then Madrid and Lisbon on April 19, London on April 20, Vienna and Frankfurt April 23, Geneva and Zurich on April 24.; amortizes in the third, fourth and fifth year; midsize bank that focuses on retail banking and lending to small and medium businesses in the southeast region of Brazil.

JSC HALYK BANK: Benchmark-sized offering of dollar-denominated senior notes (Baa1/BB+/BB+); Citigroup; Dresdner Kleinwort; Rule 144A/Regulation S; tenor of seven to 10 years; for general corporate purposes; issued via HSBK (Europe) BV; full-service bank in Kazakhstan; roadshow started April 19, making stops in London, Geneva, Frankfurt, New York and Boston.

CHINA PROPERTIES GROUP LTD.: $300 million global bonds due 2014; Merrill Lynch & Co.; non-callable for four years; roadshow started April 19, in London on April 24, U.S. from April 25-26; Shanghai-based property developer.

HYUNDAI CARD CO., LTD. (/BBB/BBB): Benchmark-sized dollar-denominated offering of three-year bonds; Barclays Capital, Morgan Stanley, RBS,UBS Investment Bank (joint books); Regulation S; investor presentations scheduled in Hong Kong on April 23, Frankfurt on April 24, London on April 25; Seoul-based credit card unit of Hyundai Motor.

PT INDIKA INTI ENERGI: $250 million five-year senior fixed-rate bullet bonds; JP Morgan, ING; Regulation S; investor presentations in Hong Kong on April 25, in Singapore on April 26, London on April 27; for refinancing, to fund expansion and energy production projects, for working capital, for general corporate purposes; issued via Indo Integrated Energy BV; PT Indika Inti Energi and PT Indika Inti Corpindo will guarantee; Indonesian integrated energy group and coal producer.

WEEK OF APRIL 30

PT BERLIAN LAJU TANKER: $200 million seven-year senior fixed-rate notes (/B+/BB-), Deutsche Bank, JP Morgan; Rule 144A/Regulation S; roadshow in Singapore from April 24-25, Hong Kong on April 26, London on April 27, New York on April 30; non-callable for five years; for refinancing, vessel acquisitions; via BLT Finance BV; Indonesian shipping company.

MAY

ALTO PALERMO SA: Two-part offering of up to $120 million in senior unsecured notes due 2017, up to $50 million of Argentine peso-linked notes due 2012 (/raAA-/AA-(arg); Citigroup, Standard Bank; U.S. Securities and Exchange Commission-registered deal; Buenos Aires-based developer and operator of commercial centers.

COMPAÑÍA LATINOAMERICANA DE INFRAESTRUCTURA & SERVICIOS SA (CLISA): Up to $100 million in five-year bullet bonds (B-); BCP Securities; Rule 144A; guaranteed by Clisa's subsidiaries, Benito Roggio e Hijos SA and Cliba Ingenieria Ambiental SA; to refinance existing debt, to cancel other obligations; roadshow in Miami, New York and possibly Boston; Buenos Aires-based issuer is a holding company for passenger transport, construction, road maintenance and environmental engineering businesses; indicative guidance set at 10% to 10½%.; pricing in first half of May.

ON THE HORIZON

PETROLEUM CO. OF TRINIDAD & TOBAGO LTD. (PETROTRIN): $750 million offering of 15-year amortizing notes (/BBB+/), Citigroup (books), Calyon (co-manager); to finance a large portion of estimated $800 million refinery upgrade program; state-owned oil company in Trinidad and Tobago.

JSC INTERGAS CENTRAL ASIA (ICA): Dollar-denominated bonds; ABN Amro, BNP Paribas (joint books); Rule 144A/Regulation S; issued via Intergas Finance B.V., Intergas Central Asia (Baa1/BB) will guarantee; main subsidiary of Kaztransgaz, indirectly 100% state-owned monopoly gas transmission company in Kazakhstan; roadshow expected to take place in Europe, Asia and the United States.

PETROBAS ENERGIA SA: Up to $300 million in 10-year series S notes; for working capital, investment in fixed assets, refinancing debt, offer capital to associated companies; Buenos Aires-based issuer, subsidiary of Brazilian state-run oil company Petróleo Brasileiro SA

AMTEL VREDESTEIN NV: Euro-denominated offering of three-year fixed rate unsecured bonds; Nomura International plc; company's debut offering of eurobonds; Enschede, Netherlands-based tire manufacturer and retailer.

ISPAT INDUSTRIES LTD.: Up to $500 million in foreign currency-denominated notes for infrastructure improvements in some of the company's plants, including its hot rolled coil steel plant at Dolvi in Raigad district of Maharashtra and its pellet plant, located at

KAZTRANSOIL: Up to $1 billion in new bonds; to fund the construction of two pipelines; Kazakhstan-based state-run oil firm.

ROADSHOWS:

April 19-27: DESARROLLADORA METROPOLITANA SA DE CV: 10-year senior notes; Dresdner Kleinwort

April 19 onwards: JSC HALYK BANK: Benchmark-sized offering of dollar-denominated senior notes; Citigroup; Dresdner Kleinwort

April 18-24: BANCO MERCANTIL DO BRASIL: Dollar-denominated offering of five-year amortizing notes; Dresdner Kleinwort

April 19-25: TRANSCAPITALBANK: Dollar-denominated three-year senior unsecured eurobonds; ABN Amro, Deutsche Bank (joint books)

April 20-24: WOORI BANK: Benchmark-sized offering of dollar-denominated hybrid bonds; Credit Suisse, Merrill Lynch, HSBC, ABN Amro, Deutsche Bank, Woori Investment and Securities

April 23-25: JSCB BANK OF MOSCOW: dollar-denominated lower tier II subordinated notes; Deutsche Bank, JP Morgan

April 19-26: CHINA PROPERTIES GROUP LTD.: $300 million global bonds due 2014; Merrill Lynch & Co.

April 23-25: HYUNDAI CARD CO., LTD.: Benchmark-sized dollar-denominated offering of three-year bonds; Barclays Capital, Morgan Stanley, RBS,UBS Investment Bank (joint books)

April 24-30: PT BERLIAN LAJU TANKER: $200 million seven-year senior fixed-rate notes; Deutsche Bank, JP Morgan

April 25-27: PT INDIKA INTI ENERGI: $250 million offering of five-year senior fixed-rate bullet bonds; JP Morgan, ING

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