Emerging markets calendar: Kospo to offer $300 million

WEEK OF APRIL 7

KOREA SOUTHERN POWER: $300 million five-year senior unsecured bonds (A1/A-); ABN Amro, Citigroup, Deutsche Bank (joint books); Rule 144A/Regulation S; Seoul-based energy firm; roadshow will be held in Hong Kong on Tuesday, London on Wednesday and New York on Thursday.

ON THE HORIZON

AMPAL-AMERICAN ISRAEL CORP.: $175 million series B debentures; Regulation S; Tel Aviv-based investment firm.

EGYPT: Egyptian pound-denominated eurobonds (Ba1/BB+/BB+); HSBC, Merrill Lynch (joint books); pricing expected in 2008.

INDUSTRIAL BANK OF KOREA: ¥50 billion senior unsecured bonds (Aa3/A/) in two-year and five-year tranches; JPMorgan, Mizuho Securities, UBS (joint books); Seoul-based commercial and retail bank.

KOOKMIN BANK: Yen-denominated two-year two-tranche senior unsecured bond (Aa3/A/A+); Seoul-based commercial and retail lender.

METRO COUNTRY CLUB: $110 million private placement deal in two tranches; $75 million six-year senior secured tranche (//B-) and a $35 million seven-year subordinated payment-in-kind tranche; Stephens; Juan Dolio, Dominican Republic-based real estate developer; initial guidance at 12% for senior secured tranche, 13½% for subordinated tranche.

NET SERVICOS DE COMUNICACAO SA: $200 million 10-year offering of bonds (Ba2), Sao Paulo-based cable television operator.

ROMANIA: €500 million 10-year eurobonds; Credit Suisse, UBS, Eurobank EFG (joint books); planned in the first half of 2008.

OAO SIBIRTELECOM: $90 million bonds (B+); MDM Bank; Novosibirsk, Russia-based fixed-line telecom operator coupon is expected at 7.7%; yield expected between 9% and 9½%.

ST. VINCENT AND THE GRENADINES: Dollar-denominated 10-year offer; HSBC; Reg. S; proceeds to construct a national library, stadium police stations and river defenses.

UNITED TEST & ASSEMBLY CENTER LTD. (UTAC): $475 million senior notes due 2015: $275 million senior cash-pay notes and $200 million senior PIK notes; JPMorgan, Merrill Lynch, ABN Amro; non-callable for four years; to finance LBO; Singapore-based semiconductor testing and assembly company.

LOCAL CURRENCY

AMBANK BHD.: S$425 million 10-year stapled notes (BB/BB); BNP Paribas, AmBank (joint books); proceeds to fund the bank's growth; Kuala Lumpur, Malaysia-based retail and commercial bank.

AMLAK FINANCE PJSC: 4.8 billion offer, 1.8 billion dirham convertible sukuk and 3 billion dirham conventional sukuk; Dubai-based commercial and retail lender.

BANK OF COMMUNICATIONS CO. LTD.: Up to 5 billion yuan bonds, maturity of one- to three-years; proceeds for granting loans, general working capital and general corporate purposes; Shanghai-based retail and commercial bank.

FAR EAST TEXTILE LTD.: Up to NT$8 billion five-year unsecured bonds; bonds will not be issued to the public; proceeds to repay short-term bank loans and to strengthen finance structure; Taipei, Taiwan- based manufacturers of manufactures polyester fibers, yarns and fabrics.

HUADIAN POWER INTERNATIONAL CO. LTD.: 5.3 billion yuan six-year bonds with one-year warrants; each warrant is redeemable for one A share; proceeds to acquire and build new power facilities; Beijing-based state-owned power company.

JIANGXI COPPER CO. LTD.: 6.8 billion yuan eight-year notes with two-year warrants; proceeds to purchase new metals, repay debt and upgrade mining capacity; Guixi, China-based mining company.

MATANG HIGHWAY SDN. BHD.: 70 million ringgit sukuk; proceeds to refinance debt related to the construction of the Matang Highway and for working capital; government entity established to fund the construction of the highway.

PING AN INSURANCE CO.: 41.2 billion six-year A share bonds with one-year warrants; two warrants are redeemable for one A share; proceeds for working capital; Shenzhen, China-based insurer.

PUBLIC BANK BHD.: 5 billion ringgit lower tier II subordinated notes; Public Investment Bank; from medium-term note program; Kuala Lumpur-based retail and commercial bank.

OJSC RUSSIAN AGRICULTURAL BANK: Swiss franc-denominated limited recourse loan participation notes to be sold through RSHB Capital SA; (BBB+/); Russian Agricultural Bank is a Moscow-based state-run bank focused on the agriculture market.

SWIRE PACIFIC MTN FINANCING LTD.: HK$250 million 10-year senior unsecured fixed rate notes (A-); Hong Kong-based holding company.

URALSVYAZINFORM: 2 billion ruble five-year notes; AKB Svyaz Bank (lead), VTB Bank, Sberbank, Dresdner Bank (co's); proceeds for refinancing existing debt; Ekaterinburg, Russia-based telecommunications provider.

ROADSHOWS

April 6 to April 10: KOREA SOUTHERN POWER: $300 million five-year senior unsecured bonds (A1/A-); ABN Amro, Citigroup, Deutsche Bank (joint books)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.