Emerging markets calendar: VAB Bank to sell $150 million three-year bonds

WEEK OF MAY 21

VSEUKRAINSKY AKSIONERNY BANK (VAB BANK): Inaugural offering of $150 million in three-year eurobonds (B2/B-); Credit Suisse, Deutsche Bank; Regulation S; roadshow in Hong Kong in May 15, in Singapore on May 16, London on May 17, in Switzerland on May 18, in Frankfurt and Vienna on May 21; Ukrainian financial institution and a member of the Kiev, Ukraine-based universal financial group VAB Group; price guidance set at 10% area.

BANCOLOMBIA SA: $400 million offering of 10-year subordinated unsecured notes (Baa3//BB); JP Morgan, UBS Investment Bank; SEC-registered; to fund operations, strengthen capital structure, regulatory compliance, other general corporate purposes; commercial bank in Colombia; price guidance set at 225 to 240 bps more than Treasuries.

IRPC PCL: Dollar-denominated offering of 10-year notes; Barclays Capital, Citigroup (joint books) Regulation S; roadshow in Singapore in May 17, Hong Kong on May 18, London on May 21; Bangkok-based petrochemical producer.

OJSC GAZPROM :Two-part offering of pound- and euro-denominated eurobonds; ABN Amro and Morgan Stanley (joint books) for the benchmark-sized sterling tranche; ABN Amro and Societe Generale (joint books) for euro tranche; Regulation S; roadshow in London on May 21, Edinburgh and Paris on May 22, London and Milan on May 23; Russian state-controlled gas monopoly

MAY

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.

ON THE HORIZON

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.

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

ROADSHOWS

May 15-21: VSEUKRAINSKY AKSIONERNY BANK (VAB BANK): Inaugural $150 million in three-year eurobonds: Credit Suisse, Deutsche Bank

May 16-21: IRPC PCL: Dollar-denominated offering of 10-year notes; Barclays Capital, Citigroup (joint books)

May 21-23: OJSC GAZPROM :Two-part offering of pound- and euro-denominated eurobonds; ABN Amro, Morgan Stanley, Societe Generale

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