Emerging markets calendar: Transneft, Alfa Bank to sell benchmarks

WEEK OF JUNE 11

BANCO SCHAHIN: $100 million 3-year senior unsecured notes due 2010 (Ba3); Merrill Lynch & Co.; Rule 144A/Regulation S; for general corporate purposes; Sao Paulo, Brazil-based commercial bank; roadshow May 30 in Singapore, May 31 in Hong Kong, June 1 in London, June 4 in Switzerland, June 5 in New York, June 6 in Boston.

GOVERNMENT OF UKRAINE (B1/BB-/BB-): Benchmark-sized dollar-denominated 10-year eurobonds; Citigroup, Credit Suisse, Deutsche Bank, UBS; Rule 144A/Regulation S; Europe and U.S. roadshow started June 4; talked at Treasuries plus 120 bps.

KUWAIT FINANCIAL CENTRE MARKAZ: $100 million five-year, senior, unsecured, unsubordinated, floating rate note (BBB+) based at Libor; Barclays Capital, National Bank of Abu Dhabi, National Bank of Kuwait (joint books); Safat, Kuwait-based asset management and investment bank; roadshow held week of June 4.

TRANSNEFT: Five-year benchmark-sized two-tranche loan participation notes in dollars and euros (expected A2/BBB+); Citigroup, Goldman Sachs, UBS (joint books); Rule 144A/Regulation S; Moscow-based pipeline operator; roadshow June 7 in London, June 8 in Paris, June 11 in Munich and Frankfurt, June 12 in Amsterdam, June 13-14 in New York.

RENAISSANCE CAPITAL BANK: Dollar-denominated three-year senior eurobond (B-/C); Credit Suisse; Regulation S; Moscow-based commercial and investment bank; roadshow June 7 in Hong Kong, June 8 in Singapore, June 11 in Switzerland, June 11-12 in London, June 12 in Vienna and Copenhagen and June 13 in the Netherlands.

ALFA BANK: Benchmark-sized five-year dollar-dominated issue (Ba1/BB) talked at mid-swaps plus 260 bps area; Credit Suisse, UBS (joint books); Rule 144A/Regulation S; off euro MTN program; Moscow-based investment bank; roadshow in United States, United Kingdom and Switzerland through June 12.

SEVERSTALTRANS GROUP: dollar-denominated three-year senior bond putable in two years; ING; Regulation S; roadshow June 6 in Singapore, Hong Kong on June 7, Manila June 8, Zurich and Geneva June 11, London June 12-13; rail, port services and transportation company operating in Russia, CIS and Baltic states; talked at 8½%.

BANCO COMAFI: $100 million senior unsecured Argentine peso-linked notes (Ba2/Aa2/A+) due June 2012; issued under $200 million global medium-term note program; Citigroup; Regulation S; Buenos Aires, Argentina-based commercial bank; roadshow June 12-13 in London, June 14-15 in the United States.

DB WORLD: benchmark-sized dollar-dominated 10-year sukuk, 30-year conventional tranche; 10-year sukuk bookrunners Barclays, Citigroup, Deutsche Bank, Dubai Islamic Bank; 30-year conventional bookrunners Barclays, Citigroup, Deutsche Bank, Lehman Brothers; Dubai, United Arab Emirates-based port operator; roadshow through United States week of June 11.

BANKPOZITIF: Five-year dollar-dominated notes; Regulation S; Istanbul, Turkey-based retail bank; roadshow week of June 11.

HYNIX SEMICONDUCTOR: $500 million (expected amount) senior unsecured notes with expected 10-year maturity (Ba2/BB-/BB); Citigroup, Credit Suisse, Goldman Sachs & Co., Korea Development Bank, Merrill Lynch & Co.; Rule 144A/Regulation S; to refinance debt; semiconductor company headquartered in Kyongki-do, South Korea; roadshow June 15 in Hong Kong and Los Angeles, June 18 in Singapore and Boston, June 19 in London and New York, pricing afterwards.

RUSSIAN STANDARD BANK: $500 million (expected) five-year dollar-dominated eurobonds (Ba2/BB-); ABN AMRO, JP Morgan (joint books); Regulation S; Moscow-based retail bank; roadshow June 14 in Hong Kong, June 15 in Singapore, June 18 in London, and June 19 in Germany and Switzerland.

INTERNATIONAL INVESTMENT BANK: €150 to €200 million (expected) bond issue; Moscow-based corporate and retail bank; roadshow June 13 in Hong Kong, June 14 in Singapore, June 18 in Europe; expected to price on June 15.

PT CENTRAL PROTEINAPRIMA: $400 million (expected) issue (B1/B+); Jakarta, Indonesia-based seafood producer; roadshow begins June 14.

REDE BRAZIL SUL GROUP: $200 to $300 million (expected) 10-year notes (BB-); Standard Bank; Rule 144A, Regulation S; proceeds used for refinancing and other indebtedness; Porto Alegre, Brazil-based multimedia network; pricing expected Friday; talked at 11½% area.

WEEK OF JUNE 18

BW GROUP: 10-year dollar-dominated benchmark senior unsecured fixed-rate issue (Baa3/BBB-); HSBC, Morgan Stanley (joint books); Rule 144A/Regulation S; Singapore-based shipping company; roadshow June 13 in Hong Kong, June 14 in Singapore, June 15 in London, June 18 in Los Angeles, June 19 in New York and June 20 in Boston.

GOVERNMENT OF MOROCCO: Benchmark-sized euro-dominated 10-year sovereigns; Citigroup, JP Morgan (joint books); Regulation S; launch the week of June 18, market conditions permitting.

JUNE

KEXIM: Five-year ¥35 billion samurai bond (A3/A/A+); talk at yen Libor plus basis points in the high teens; Daiwa; Seoul-based state owned bank.

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.

PERU: $2.5 billion in 30-year bonds; domestic and international markets; proceeds partial payment of Paris Club debt.

GRUPO FINANCIERO MIFEL SA: $120 million offering of perpetual bonds; Deutsche Bank; Rule 144A/Regulation S; non-callable for five years; Mexico City-based bank; pricing expected at end of June.

SPEKTR GROUP: $100 million 3-year credit-linked notes to yield 9¾% to 10½% callable in 1½ to 2 years; MDM; St. Petersburg, Russia-based health and beauty product retailer.

CITY OF KIEV: €300 million 10-year notes; Citigroup, Deutsche Bank, UBS (joint books); expected to price in June; talked at 7.2%-7.5%

JULY

SWIFT & CO./FRIBOI: $600 million notes due 2017, expected in two tranches; backed by bridge financing from Banco do Brasil, Citigroup, Santander, Rothschild, UBS; to help finance acquisition of Swift by J&F Participacoes SA, the 77% owner of JBS SA, parent of Sao Paulo, Brazil-based beef exporter Friboi; expected July business.

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.

STANDARD BANK OF SOUTH AFRICA: Dollar-dominated tier II issue; Johannesburg-based commercial and investment bank.

BANK OF EAST ASIA: 10-year step-up dollar-dominated benchmark-sized tier II subordinated note issue (A3/BBB+); fixed rate and uncallable for 5 years, if not redeemed 100 bps step-up offered; JP Morgan; Rule144A/Regulation S; Hong Kong-based commercial and investment bank; roadshow to come.

HIDROELECTRICA PIEDRA DEL AGUILA: $200 million 10-year notes (B); amortize in 2014; Buenos Aires, Argentina-based utility and power company.

AKBARS BANK: three to five-year dollar-dominated bonds; Regualation S; Kazan, Tartarstan-based retail and investment bank.

VIETNAM BANK FOR INVESTMENT AND DEVELOPMENT: VND$ 5 trillion ($300 million equivalent) five-year notes; Hanoi, Vietnam-based state-run commercial bank.

GOVERNMENT OF LITHUANIA: Benchmark-sized euro-dominated bond; Societe General, UBS (joint books).

ABSA BANK: €500 million issue, off euro MTN program; Johannesburg, South Africa-based commercial and investment bank.

ROADSHOWS

June 7-13: RENAISSANCE CAPITAL BANK: Dollar-denominated three-year senior eurobond; Credit Suisse

June 6-13: SEVERSTALTRANS GROUP: Dollar-denominated three-year senior bond putable in two years; ING

Through June 14: TRANSNEFT: Five-year benchmark-sized loan participation notes in dollars and euros; Citigroup, Goldman Sachs, UBS

June 12-15: BANCO COMAFI: $100 million senior unsecured Argentine peso-linked notes; Citigroup

June 13-20: BW GROUP: 10-year dollar-dominated benchmark senior unsecured fixed-rate issue; HSBC, Morgan Stanley

June 12-15: DB World: benchmark-sized 10-year plus dollar-dominated sukuk.

June 12-15: BANKPOZITIF: 5-year dollar-dominated notes.

June 13-18: INTERNATIONAL INVESTMENT BANK: €150 to €200 million (expected) bond issue

Begins June 14: PT CENTRAL PROTEINAPRIMA: $400 million (expected) issue

June 14-19: RUSSIAN STANDARD BANK: $500 million (expected) five-year dollar-dominated eurobonds; ABN AMRO, JP Morgan

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