Kuveyt Turk, PGNiG, Suhyup Bank Plan Debt: Emerging Bond Alert

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

KUVEYT TURK PARTICIPATION BANK may sell a dollar- denominated sukuk after investor meetings in Asia, the Middle East and Europe from Oct. 10 until Oct. 18, a banker with knowledge of the deal said.

HSBC Holdings Plc (HSBA), Liquidity Management House and Standard Chartered Bank will arrange the meetings for Kuveyt Turk, which is majority owned by Kuwait Finance House and rated BBB- by Fitch Ratings, said the banker, who asked not to be named.

(Added Oct. 6. News: GOLDP TI)

POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA (PGN)’s, plan to raise as much as 500 million euros ($667 million), the first overseas offering by a Polish utility in a decade, “is continuing and if the market is good, we will issue the first tranche,” Chief Financial Officer Slawomir Hinc said in a phone interview yesterday. Poland’s largest natural gas company, also known as PGNiG, hired BNP Paribas SA, Societe Generale SA and UniCredit SpA (UCG) to hold investor meetings last month.

(Updated Oct. 6. News: PGN PW)

SUHYUP BANK, the credit business unit of Korea’s National Federation of Fisheries Cooperatives, hired banks to help it arrange a series of investor meetings in Asia and Europe, according to a person familiar with the matter.

Meetings will start from Oct. 11 and will be arranged by Bank of America Corp., Citigroup Inc., ING Groep NV, Royal Bank of Scotland Group Plc and Standard Chartered Plc, the person said, asking not to be identified as details are private. A bond sale may follow, subject to market conditions, the person said.

(Added Oct. 6. News: NFFZ KS)


INDONESIA is proceeding with plans to sell global sukuk and is waiting for the right time, Bhimantara Widyajala, a director at the Finance Ministry’s debt management office, said in a press briefing in Jakarta on Sept. 28. The government 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, a person familiar with the matter who asked not to be identified as details are private, said in August.

(Added Sept. 28. News: TNI INDO NEWBON)

KOREA NATIONAL OIL CORP. plans to sell bonds denominated in U.S. dollars, according to a person familiar with the matter.

Bank of America Corp., Barclays Plc, HSBC Holdings Plc, Korea Development Bank and Royal Bank of Scotland Group Plc were hired to manage the sale, said the person, who asked not to be identified because the details are private.

(Added Sept. 12. News: KNOCPZ KS)

POSCO (005490), the world’s third-biggest steelmaker, started marketing a sale of Samurai bonds planned for next week, according to a person with direct knowledge of the matter.

The Pohang, South Korea-based company told investors it plans to price three-year bonds to yield between 85 and 125 basis points more than the yen swap rate, said the person, asking not to be identified as the information is private.

Posco also plans to sell five-year bonds at a spread of between 100 basis points and 140 basis points above the benchmark, the person said. Samurai bonds are yen-denominated notes sold in Japan by overseas borrowers. A basis point is 0.01 percentage point.

(Updated Oct. 4. News: 005490 KS)

SHINHAN FINANCIAL GROUP CO., a South Korean lender, hired five banks for a sale of bonds denominated in U.S. dollars, according to a person familiar with the matter.

Bank of America Corp., BNP Paribas SA, Deutsche Bank AG, HSBC Holdings Plc and Standard Chartered Plc will help Shinhan Investment Corp., the brokerage unit of Shinhan Financial, to manage the sale, said the person, who asked not to be identified because the details are private.

The size and the timetable of the sale are yet to be determined, the person said.

(Added Sept. 20. News: 055550 KS)

TAMWEEL PJSC (TAMWEEL) plans to sell up to $500 million worth of Islamic bonds during the fourth quarter, acting Chief Executive Officer Varun Sood said on Sept. 27. The sukuk will be denominated in U.S. dollars or Malaysian ringgit, he said.

(Added Sept. 27. News: TAMWEEL UH)

UCO BANK (UCO), a Kolkata, India-based state-owned bank, plans to meet with debt investors in Hong Kong, London and Singapore this month ahead of a possible sale of bonds denominated in U.S. dollars, according to a person with direct knowledge of the matter.

BNP Paribas, Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co. (JPM) and Standard Chartered Plc will arrange the so- called non-deal roadshows, said the person, who asked not to be identified because he isn’t authorized to speak on the matter.

(Updated Sept. 13. News: UCO IN)

VIETINBANK, or the Vietnam Joint Stock Commercial Bank for Industry & Trade, may offer a coupon of 5 percent to 6 percent on its planned $500 million overseas bond sale this year, Chairman Pham Huy Hung said in a Sept. 15 interview in Hanoi.

The lender is “determined to sell the bonds this year,” Hung said. The bank hired HSBC Holdings Plc and Barclays Bank Plc to arrange the sale, said Deputy General Director Le Duc Tho Sept. 12.

(Updated Sept. 15. News: CTG VN)


HUNGARY may raise 4 billion euros ($5.3 billion) in international debt next year after having met its financing needs for this year, said Laszlo Buzas, deputy chief executive at the country’s debt management agency.

The government hasn’t set the currency of the debt or the timing of the offerings, Buzas said in an interview in Singapore today. Hungary, the European Union’s most indebted eastern member, will refrain from selling more international bonds this year to avoid raising its debt-to-gross domestic product ratio, he said.

(Added: Sept. 15. News: TNI HUNGARY NEWBON)


AMERICA MOVIL SAB, the wireless carrier controlled by billionaire Carlos Slim, plans to sell 20 billion yen ($261 million) of Samurai bonds this month, according to an Oct. 5 filing today with Japan’s finance ministry.

The largest mobile-phone company in the Americas plans to sell 5 billion yen each in three- and five-year fixed-rate bonds, and floating-rate notes with the same maturities, the filing said. Mizuho Financial Group Inc. and Mitsubishi UFJ Morgan Stanley Securities Co. will manage the sale, the filing said. Samurai bonds are yen-denominated notes sold in Japan by overseas investors.

(Updated Oct. 5. News: AMXL MM)

AMERICA MOVIL SAB is meeting with bond investors this week in Europe, according to a person familiar with the meetings.

America Movil officials will brief investors in London, Edinburgh, Paris, Amsterdam and Frankfurt in meetings that Deutsche Bank AG is arranging from today through Oct. 7, said the person, who asked not to be identified because he’s not authorized to speak publicly about the matter.

(Added Oct. 4. News: AMXL MM)

BRAZIL plans to sell more bonds abroad this year even if it has to pay a higher yield than in previous auctions, Treasury Secretary Arno Augustin said in an interview published Sept. 30. The Treasury hasn’t decided yet if it will offer dollar or real- denominated bonds in its next foreign auction, Augustin said in Brasilia. Brazil’s last foreign bond auction was on July 7, when it sold $550 million of its dollar bonds maturing in 2021 to yield 4.188 percent.

(Added Oct. 3. News: TNI BRAZIL NEWBON)

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)

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)

INTERPROPERTIES FINANCE TRUST, a unit of Peruvian holding company IFH Peru Ltd., plans to offer as much as $185 million of bonds in the international market to finance the construction of malls in Peru, said Jose Macia, head of finance at Interproperties Peru SA, which is helping manage the sale.

The 12-year bonds will be backed by profit from future and existing malls operated by Real Plaza, Macia said in an e-mailed response to questions.

(Added Sept. 27. News: IFH BH)

PERU may sell bonds overseas or domestically “soon,” Finance Minister Miguel Castilla said Sept. 22. Peru is seeking a window of opportunity to sell bonds abroad, Castilla said in New York.

(Updated Sept. 22. News: TNI PERU NEWBON)

PETROLEO BRASILEIRO SA (PETR4), Brazil’s state-controlled oil producer, said it may consider selling bonds in reais. The company’s borrowing capacity hasn’t been affected by the sovereign-debt crisis in Europe, Petrobras Chief Executive Officer Jose Sergio Gabrielli said on Sept. 15.

(Added Sept. 15. News: PETR4 BZ)


BAHRAIN plans to sell $1 billion in Islamic bonds in October, Central Bank Governor Rasheed al-Maraj said Sept. 28 in New York. The maturity of the sukuk may be between seven to 10 years, Maraj said.

(Added Sept. 28. News: TNI NEWBON BAHRAIN)

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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