Emerging markets calendar: TNK-BP to sell benchmark-sized bonds

WEEK OF MARCH 5:

TNK-BP: Dollar-denominated offering of benchmark-sized bonds; ABN Amro, Barclays Capital, Citigroup; Rule 144A/Regulation S; investor presentations are to take place the week of March 5; Moscow-based integrated oil company.

PROMSVYAZBANK (RUSSIA): Reopening of 8¾% senior bonds due 2011 (Ba3/B+/B+) to add $100 million; Citigroup; Regulation S; private commercial and retail bank based in Moscow; expected to price this week, pending market conditions.

PROCREDIT BANK AD, SERBIA: €100 million to €150 million offering of five-year loan participation notes (//BB-); Deutsche Bank; Regulation S; via ProCredit Finance BV; based in Belgrade, Serbia, ProCredit Bank is a development-oriented full-service bank

MARCH:

EUROCHEM MINERAL AND CHEMICAL CO. OJSC: Dollar-denominated offering of five-year bullet notes (/BB-/BB- expected); Citigroup, ING, UBS (books); Regulation S; loan participation notes via Eurochem Mineral; Moscow-based producer of fertilizers.

MIRAX GROUP: $100 million credit-linked notes due 2011; MDM Bank; to fund construction projects in Kiev, Ukraine; conglomerate based in Moscow and St. Petersburg involved in property development and management, construction, and pharmaceuticals; initial price guidance 9% to 9½%; to launch and price following Asian and European roadshow, subject to market conditions; to price in March.

ON THE HORIZON

HUNGARIAN TELEPHONE AND CABLE CORP. (HTTC): €200 million floating-rate notes; Merrill Lynch & Co., BNP Paribas, Calyon Securities; in connection with HTTC's acquisition of Invitel; HTTC, 62% owned by Danish telecom, TDC, with remaining shares traded on Nasdaq, has headquarters in Budapest and Seattle; expected in second quarter of 2007.

HOME CREDIT & FINANCE BANK RUSSIA: Dollar-denominated eurobonds; ABM Amro, BNP Paribas; expected to take place during the first half of this year; Russian arm of consumer lending group Home Credit.

PROVINCE OF BUENOS AIRES (B3/B+): $425 million offering of fixed-rate senior amortizing notes due March 2028; Barclays Capital, Deutsche Bank; Rule 144A/Regulation S; non-callable; for general corporate purposes, to pay debt amortization, to fund capital expenditures; price guidance set at 9½% area (postponed).

ISPAT INDUSTRIES LTD.: Up to $500 million in foreign currency-denominated notes for infrastructural 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 Vishakapatnam in Andhra Pradesh; steelmaker based in Mumbai, India.

ROADSHOWS

Week of March 5: TNK-BP: Dollar-denominated offering of benchmark-sized bonds; ABN Amro, Barclays Capital, Citigroup

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