Peru’s Cofide Plans $500 Million Debt Sale: Emerging Bond Alert

The following borrowers in emerging markets are expected to sell international bonds. New information is followed by previously reported plans.

CORPORACION FINANCIERA DE DESAROLLO SA, Peru’s state development bank, plans to sell as much as $500 million of bonds in overseas markets, Andina reported Sept. 5. Cofide, as the bank is known, may issue the securities before the end of the year, the government’s online news agency said, citing a spokesperson for the Lima-based bank.

(Added Sept. 6. News: TNI PERU NEWBON)

SERBIA plans to meet bond investors starting Sept. 8, according to a banker involved in the arrangements.

The country may sell bonds following the meetings, the banker said today. Deutsche Bank AG and JPMorgan Chase & Co. are organizing the presentations.

(Added Sept. 6. News: 830031Z SG)

TARJETAS CUYANAS SA, a credit card unit of Buenos Aires- based Grupo Financiero Galicia SA, approved the sale of as much as $120 million of bonds, according to a Sept. 2 filing with regulators. The unit of Argentina’s largest consumer lender didn’t say what maturity the bonds would have.

(Added Sept. 6. News: GALI AR)

ASIA

CATHAY FINANCIAL HOLDING CO. plans to sell as much as $800 million of three-year bonds convertible to stocks overseas, the Taipei-based company said in an exchange statement. The proceeds will be used to strengthen financial structure and for merger and acquisitions, according to the statement.

(Added Aug. 11. News: 2882 TT)

INDONESIA hired HSBC Holdings Plc, Citigroup Inc. and Standard Chartered Plc to help it with a sale of as much as $1 billion of Islamic bonds, according to a person familiar with the matter who asked not to be identified as details are private.

(Added Aug. 26. News: 1133Z IJ)

UCU BANK, a Kolkata, India-based state-owned lender, will need “at least one month to take a call” on a dollar- denominated bond sale, General Manager S. Srinivasan said in an Aug. 10 interview. The bank hired BNP Paribas, Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co. and Standard Chartered Plc to manage the sale, said a person, who asked not to be identified because the details are private, on Aug. 5.

(Updated Aug. 10. News: UCO IN)

CENTRAL, EASTERN EUROPE

BANK OF GEORGIA hired two investment banks to explore a possible sale of international bonds, the lender said in an Aug. 3 statement.

(Added: Aug. 4. News: GEB GG)

LATVIA is “exploring” the possibility of a potential debt sale in Asia, Prime Minister Valdis Dombrovskis said in an Aug. 10 interview. Latvia sold $500 million worth of government debt in June.

(Added: Aug. 10. News: NI LATVIA BN)

ROMANIA extended the deadline in its search for a legal adviser to upgrade its medium-term note program to sell dollar- denominated bonds on the U.S. market to Sept. 20 from Sept. 6., the Finance Ministry said today in a statement on its website.

(Updated Sept. 5. News: TNI NEWBON ROMANIA )

LATIN AMERICA & CARIBBEAN

BANCO DAVIVIENDA SA (PFDAVVND), Colombia’s third-largest bank, plans to sell as much as $350 million in bonds abroad. The board of the Bogota-based bank approved the sale on Aug. 16, according to a statement on the website of Colombia’s securities regulator.

The board also plans to list shares on exchanges abroad, according to the statement.

(Added Aug. 16. News: PFDAVVND CB)

BANCO DE CREDITO DEL PERU, the Andean country’s biggest lender, selected Bank of America and Morgan Stanley to hold meetings with bond investors, according to a person familiar with the plan.

The meetings are planned for Sept. 5 in Switzerland, Sept. 6 in London and Los Angeles and Sept. 7 in Boston and New York, said the person, who asked not to be identified because he isn’t authorized to speak publicly about the matter.

(Added Aug. 25. News: BAP US)

BRASIL TELECOM SA (BRTO4), a subsidiary of Telemar Norte Leste SA, plans to meet with bond investors starting this week, according to a person familiar with the discussions.

The Brazilian phone operator hired Bank of America Corp., Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc, Itau Unibanco Holding SA and Morgan Stanley to arrange the meetings, said the person, who declined to be identified because the discussions are private. The meetings will take place in Latin America, Europe and the U.S., the person said.

(Added Aug. 29. News: BRTO4 BZ)

BUENOS AIRES CITY selected Barclays Plc, BTG Pactual SA and Citigroup Inc. to manage its planned sale of up to $500 million of bonds, said Abel Fernandez, the Argentine capital city’s head of public credit, in a July 29 telephone interview.

(Added Aug. 1. News: TNI ARGENT NEWBON)

CAIXA ECONOMICA FEDERAL, a Brazilian government-owned lender, is preparing to sell bonds in the international markets when “there is a window of opportunity,” Marcio Percival Alves Pinto, the bank’s vice president of finance, told reporters in Sao Paulo on Aug. 11.

(Updated Aug. 11. News: CEFN3 BZ)

CHILE doesn’t rule out selling bonds this year, Finance Minister Felipe Larrain said at the Bloomberg Economic Summit in Santiago on Aug. 23. The country must pick the right moment to sell debt, Larrain said.

(Added Aug. 23. News: TNI CHILE NEWBON)

CODELCO, the world’s largest copper producer, may raise as much as $2.5 billion in bonds and loans by the end of 2012 to fund record spending on its mines in Chile. The Chilean state- owned company may sell more than $1 billion in bonds, Chief Executive Officer Diego Hernandez said in an Aug. 4 interview at Bloomberg’s office in Melbourne.

(Added: Aug. 5. News: 1006Z CI)

ELETROBRAS, Latin America’s largest publicly traded utility, is in the “initial stages” for a possible sale of 10- year bonds, Chief Financial Offer Armando Casado de Araujo told reporters on Aug. 30 at an event in Sao Paulo. Centrais Eletricas Brasileiras SA (ELET6), as the utility is also known, hired Credit Suisse Group AG and Banco Santander SA to sell bonds overseas, according to a person familiar with the plan who asked not to be identified because the terms are not set. Eletrobras may offer a benchmark-sized issue, the person said. Benchmark sales are typically at least $500 million.

(Updated Aug. 31. News: ELET6 BZ)

EMPRESA DE ENERGIA DE BOGOTA SA (EEB), Colombia’s second-biggest electricity transporter, hired Deutsche Bank AG and Banco Santander SA to sell bonds overseas, according to a person familiar with the plan. EEB, as the utility is known, may seek to sell bonds that mature in 10 years, said the person, who asked not to be identified because the terms are not set.

The Bogota-based company said in a June 16 regulatory filing that it plans to sell as much as $610 million worth of bonds overseas to buy back EEB International Ltd. bonds due in 2014.

(Added Aug. 19. News: EEB CB)

GUATEMALA has sent requests to banks for proposals to manage the Central American country’s first international bond sale in seven years, according to three bankers familiar with the matter. The bankers asked not to be identified because the discussions are private. A Guatemalan Finance Ministry official declined to comment.

(Added Aug. 19. News: TNI GUATE NEWBON)

PETROLEO BRASILEIRO SA (PETR4), Brazil’s state-controlled oil company, is considering selling bonds denominated in euros or pounds, Chief Financial Officer Almir Barbassa told reporters in New York on Aug. 2. Petrobras, as the Rio de Janeiro-based company is known, is considering other currency markets to help fund its $224.7 billion investment plan after it sold a record $6 billion of dollar bonds in January. The company said July 22 that it will issue as much as $91 billion in debt and sell up to $13.6 billion of assets as part of spending plans for 2011 through 2015.

(Added Aug. 3. News: PETR4 BZ)

PERU may sell bonds overseas or domestically during the fourth quarter, Finance Minister Miguel Castilla said on Sept. 1. The bonds would help finance next year’s budget and the timing of any sale will depend on market conditions, Castilla told reporters in Lima. He declined to say how much the government may sell.

(Added Sept. 1. News: TNI PERU NEWBON)

MIDDLE EAST & AFRICA

COMMERCIAL BANK OF QATAR (CBQK), the Persian Gulf country’s second-biggest bank by assets, hired BNP Paribas SA, HSBC Holdings Plc and Morgan Stanley to arrange a $5 billion Euro Medium-Term Note program.

Commercial Bank of Qatar’s unit, Commercialbank Capital, will also be an arranger, the bank said in its bond prospectus published on the London Stock Exchange. Citigroup Inc, Barclays Capital, JPMorgan Chase & Co., Deutsche Bank AG and Standard Chartered Bank Plc will also be involved in the deal, it said.

(Added Aug. 11. News: CBQK QD)

ZAMBIA, Africa’s biggest copper producer, will probably delay the sale of its planned $500 million Eurobond until after elections in September, central bank Governor Caleb Fundanga said in an Aug. 5 interview.

(Added Aug. 8. News: TNI ZAMBIA NEWBON)

To contact the reporter on this story: Drew Benson in New York at abenson9@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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