Emerging markets calendar: Arcor to sell $100 million in 10-year notes

WEEK OF JUNE 25

ARCOR: $100 million 10-year senior unsecured notes (B+/BB-); Citigroup; Rule 144A, Regulation S; amortizing in two equal installments in 2016 and 2017; proceeds for refinancing and capex; Cordoba, Argentina-based food producer; roadshow scheduled on June 20 in London, June 22 in Los Angeles, June 25-26 on the US east coast; price expected on June 27.

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; price guidance set at 9% area.

HIDROELECTRICA PIEDRA DEL AGUILA: $200 million 10-year notes (B); Merrill Lynch; amortize beginning 2014; Buenos Aires, Argentina-based utility and power company; marketing through June 29.

MISC BHD.: $750 million offering of dollar-denominated 10-year bonds (A2); Citigroup, Deutsche Bank; Rule 144A/Regulation S deal; carrier of liquefied natural gas in Malaysia; price guidance set at 40 basis points more than mid-swaps area.

JSCB BANK OF MOSCOW: Debut offering of euro-denominated five-year notes (A3//BBB expected); Deutsche Bank, JP Morgan; Regulation S; roadshow in Amsterdam on June 25, Paris on June 26, in Milan on June 27; Moscow-based full -service commercial bank

LUPATECH FINANCE: $200 million offering of perpetual bonds (Ba3/BB-); Citigroup, Merrill Lynch (books); Santander Investment (lead manager); Rule 144A/Regulation S; roadshow in Singapore in June 25, Hong Kong on June 26, Switzerland on June 27, London on June 28, New York on June 29; Brazilian manufacturer Lupatech SA and its subsidiaries will guarantee; non-callable for five years; to fund growth, general corporate purposes.

HANG SENG BANK LTD.: Dollar-denominated offering of 10-year subordinated notes (Aa2/AA-): HSBC; non-callable for five years, if not called, coupon steps up by 50 basis points; Hong Kong-based bank.

ORIENT EXPRESS BANK (B3): Dual tranche offering of dollar-denominated subordinated bonds and ruble-denominated senior bonds; ABN Amro, Standard Bank; Regulation S; roadshow in London on June 18-19, Geneva and Zurich on June 20, Austria and Frankfurt on June 21; retail lender in the Far East region of Russia.

BANCO SCHAHIN: $100 million 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; price guidance set at 7½% area.

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.

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; talked at 11½% area.

PRIORBANK: Two-year fixed rate notes; Raiffeisenzentralbank, VTB Group (joint books); Minsk, Belarus-based commercial and investment bank; roadshow expected the week of June 18.

JUNE

CHINA GLASS HOLDINGS LTD: $120 million of senior notes (B1/B+); Standard Bank; to refinance debt, general corporate purposes; Hong Kong-based maker of glass and glass products.

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.

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.

CREDIT BANK OF MOSCOW: 2 billion ruble senior unsecured local-currency issue (A1); putable after 18 months of issue; Moscow-based commercial and investment bank.

ROADSHOWS

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

Week of June 18: PRIORBANK: Two-year fixed rate notes; Raiffeisenzentralbank, VTB Group

June 20-26: ARCOR: $100 million 10-year senior unsecured notes; Citigroup

June 25-27: JSCB BANK OF MOSCOW: Debut offering of euro-denominated five-year notes (A3//BBB expected); Deutsche Bank, JP Morgan

June 26-29: LUPATECH FINANCE: $200 million offering of perpetual bonds (Ba3/BB-); Citigroup, Merrill Lynch (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.