Emerging markets calendar: Absolut Bank to sell eurobonds

WEEK OF MARCH 19:

ABSOLUT BANK: Benchmark-sized offering of eurobonds (B1); Dresdner Kleinwort, UBS; Regulation S; roadshow in Hong Kong on March 15, Singapore on March 16, Athens on March 19, Geneva and Zurich on March 20; London on March 21; Moscow-based commercial bank.

FIRST BANK OF NIGERIA PLC: Dollar-denominated offering of 10-year subordinated bonds (/B/); Merrill Lynch; Regulation S; talk in the area of 10%; lower tier II bonds; non-callable for five years; for general corporate purposes; commercial bank based in Lagos, Nigeria.

GAZPROMBANK: Benchmark-sized dollar-denominated bonds (Baa2/BBB- issuer ratings); Dresdner Kleinwort, UBS Investment Bank; Regulation S; investor presentations started March 19; a joint-stock bank of the gas industry, subsidiary of Russian energy giant Gazprom.

WEEK OF MARCH 26:

REDE EMPRESAS DE ENERGIA ELETRICA SA: $200 million offering of perpetual senior unsecured notes (B3//B expected); Merrill Lynch; Rule 144A/Regulation S; fixed-rate notes, non-callable for five years; from 2012, callable at par; investor presentations in Europe and the United States from March 26- 30; Sao Paolo-based issuer; involved in the operation, generation, transmission and distribution of electric energy.

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.

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.

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

ROADSHOWS

March 15-21: ABSOLUT BANK: Benchmark-sized offering of eurobonds; Dresdner Kleinwort, UBS

Started March 19: GAZPROMBANK: Benchmark-sized dollar-denominated bonds; Dresdner Kleinwort, UBS Investment Bank

March 20-30: REDE EMPRESAS DE ENERGIA ELETRICA SA: $200 million offering of perpetual senior unsecured notes (B3//B expected); Merrill Lynch

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