Colombia’s EEB, Jamaica’s NROOC Sell Debt: Emerging Bond Alert

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

EMPRESA DE ENERGIA DE BOGOTA SA (EEB), Colombia’s second-biggest electricity transporter, plans to sell $610 million of 10-year bonds to yield 6.125 percent as soon as today, according to person familiar with the plan who asked not to be identified because terms weren’t set.

EEB hired Deutsche Bank AG and Banco Santander SA to sell the bonds overseas. The Bogota-based company plans to sell debt to buy back EEB International Ltd. bonds due in 2014, according to a July 16 regulatory filing.

(Updated Nov. 3. News: EEB CB)

INDONESIA is waiting for the right timing to proceed with its second international offering of Shariah-compliant bonds, Dahlan Siamat, director of Islamic finance at the government’s debt management office, said today.

Dwi Irianti Hadiningdyah, deputy director at the debt management office, said Oct. 17 Indonesia may sell $500 million of global Islamic bonds this year.is wahired Citigroup Inc., HSBC Holdings Plc and Standard Chartered Plc to arrange bond investor meetings last month, according to a person familiar with the plan who asked not to be identified because he isn’t authorized to speak publicly about the matter.

(Updated Nov. 3. News: TNI INDO NEWBON)

Jamaica’s NATIONAL ROAD OPERATING AND CONSTRUCTION COMPANY LIMITED plans to sell $294 million of bonds as soon as today, according to a person familiar with the transaction.

State-owned NROOC hired Credit Suisse Group AG to arrange the sale, said the person, who declined to be identified because terms aren’t set. The bonds, which can be redeemed in two equal payments in 2023 and 2024, may yield about 6.5 percent, according to the person.

The bonds are sold to retire the $294 million outstanding of 8 percent notes due in 2012, the person said.

(Added Nov. 3. News: 9266561Z JA)

ASIA

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 timing of the sale are yet to be determined, the person said.

(Added Sept. 20. News: 055550 KS)

KOREA MIDLAND POWER CO., a unit of Korea Electric Power Corp. (KEP), asked JPMorgan Chase & Co. and Morgan Stanley to arrange investor update meetings in Europe and the U.S., according to a person familiar with the matter.

(Added Oct. 24. News: KEP US)

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

(Added Sept. 27. News: TAMWEEL UH)

CENTRAL, EASTERN EUROPE

PBG SA (PBG), Poland’s third-largest construction company, may sell its first Eurobonds to refinance debt and extend maturities, spokeswoman Kinga Banaszak-Filipiak said Oct. 28. Banaszak said it’s “too early” to talk about the amount and timeframe of the potential issue. Her comments come after Standard & Poor’s Ratings Services assigned a “BB-” rating with a “stable” outlook to the company.

(Added Oct. 28. News: PBG PW)

POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA (PGN)’s plan to raise as much as 500 million euros in 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 an Oct. 5 phone interview. Poland’s largest natural gas company, also known as PGNiG, hired BNP Paribas SA, Societe Generale SA and UniCredit SpA to hold investor meetings in September.

(Updated Oct. 6. News: PGN PW)

ROMANIA selected eight banks to manage its 7 billion-euro ($9.7 billion) medium-term note program over three years, Deputy Finance Minister Bogdan Dragoi said Oct. 25 in a phone interview from Bucharest.

The dealers are Barclays Plc, BNP Paribas SA, Citigroup Inc., Deutsche Bank AG, Erste Group Bank AG, HSBC Holdings Plc, Societe Generale SA and Unicredit SpA (UCG), according to Dragoi.

He also reiterated a plan to sell bonds by the end of 2011 on international markets. It would be the second such sale this year.

(Added Oct. 25. News: TNI ROMANIA NEWBON)

SLOVAKIA will go forward with plans to sell bonds abroad this year as demand remains undeterred by the collapse of the 15-month-old government and the euro debt crisis, the head of the state-debt agency said in an Oct. 18 interview.

The Debt and Liquidity Management Agency’s 2011 bond-sale calendar originally called for issuing at least 1 billion euros ($1.38 billion) of debt with a maturity of seven or 10 years in September through a bank syndication. The sale, though delayed because of market declines following the crisis, is “still alive,” agency director Daniel Bytcanek said.

(Added Oct. 20. News: TNI SLOVAKIA NEWBON)

LATIN AMERICA & CARIBBEAN

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)

INTERCORP RETAIL, a unit of Peruvian holding company IFH Peru Ltd., plans to hold investor meetings this week as it seeks to sell a debut overseas bond, according to a person familiar with the discussions.

Intercorp Retail hired Bank of America Merrill Lynch and JPMorgan Chase & Co. to arrange the meetings in Europe, Latin America and the U.S. through Nov. 4, said the person, who asked not to be identified because he’s not authorized to speak publicly about the matter.

(Added Oct. 31. News: IFH BH)

INVERSORA JURAMENTO SA (INVJ), an Argentine beef producer, approved a $100 million global bond issuance at its annual shareholders assembly, the company said in an Oct. 31 regulatory filing to the Buenos Aires stock exchange.

No timeframe was given for the issuance nor did the company say what the funds will be used for.

(Added Nov. 1. News: INVJ AR)

MASISA SA (MASISA), the Chilean forestry and wood panel company, plans to raise between $200 million and $250 million to refinance debt, Chief Financial Officer Eugenio Arteaga said in an interview on Oct. 24.

Masisa is talking to banks to place bonds in either the U.S. or Europe in the first quarter of next year, Arteaga said.

(Added Oct. 25. News: MASISA CI)

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)

The CITY OF RIO DE JANEIRO plans to sell bonds as early as next year to finance projects for the 2016 Olympic Games, Mayor Eduardo Paes told reporters on Oct. 10. The city has the “financial health” to sell debt in global markets, he said.

(Added Oct. 10. News: TNI NEWBON BRAZIL)

PETROLEO BRASILEIRO SA (PETR4), Latin America’s largest company by market value, plans to sell bonds denominated in euros and pounds when market conditions improve, according to three people familiar with the matter.

The state-run oil producer, based in Rio de Janeiro, hired Banco Bradesco SA, Deutsche Bank AG, JP Morgan Chase & Co and Banco Santander SA to manage the bond offering, said the people, who asked not to be identified because the plans haven’t been announced publicly.

(Updated Oct. 21. News: PETR4 BS)

MIDDLE EAST & AFRICA

ALBARAKA TURK KATILIM BANKASI AS (ALBRK), a Turkish Islamic lender, hired Deutsche Bank AG, Emirates NBD, QInvest Llc and Noor Islamic Bank to help it sell as much as $200 million of five- year sukuk, the bank said in an Oct. 21 statement to the Istanbul Stock Exchange.

(Added Oct. 21. News: ALBRK TI)

BAHRAIN plans to hold bond investor meetings about a benchmark-sized sale of sukuk bonds in the Mideast, Asia and Europe beginning on Nov. 14, according to a banker with direct knowledge of the deal.

Central Bank Governor Rasheed al-Maraj said in an interview in September that Bahrain hired Citigroup Inc., BNP Paribas SA and Standard Chartered Plc to advise on the sale of $1 billion in bonds. He said the maturity of the sukuk may be between seven to 10 years and that the island kingdom plans to use the money to help finance a budget deficit of about 5 percent of gross domestic product.

(Updated Nov. 2. News: 3343879Z BI)

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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