Qatar Sells, America Movil Plans Asia Trip: Emerging Bond Alert

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

QATAR, the world’s biggest exporter of liquefied natural gas, may sell benchmark-sized dollar bonds maturing in January 2017 to yield about 225 basis points over Treasuries and debt due in January 2022 at about 262.5 basis points over Treasuries, two bankers familiar with the transaction said.

The bonds may be priced today, the bankers said, declining to be identified, because the information is private.

Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Mitsubishi UFJ Securities, QNB Capital and Standard Chartered Plc are arranging the sale.

(Updated Nov. 29. News: TNI EM NEWBON QATAR)

AMERICA MOVIL SAB, the wireless carrier controlled by billionaire Carlos Slim, hired HSBC Holdings Plc to arrange meetings with bond investors in Asia, according to a person familiar with the discussions.

The Mexico City-based company plans to meet with investors in Singapore on Dec. 5 and in Hong Kong on Dec. 6, said the person, who declined to be identified because the discussions are private. The company may consider selling debt denominated in renminbis after the meetings.

(Added Nov. 29. News: AMXL MM (AMXL))

POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA, Poland’s dominant natural gas producer, will decide in two weeks on the timing of its planned offering of 500 million euros ($671 million) of Eurobonds and doesn’t exclude a sale before the end of this year, PAP newswire reported today, citing the company’s Chief Financial Officer Slawomir Hinc.

(Updated Nov. 29. News: PGN PW (PGN))

VALE SA , the world’s largest iron-ore producer, said it will tap debt markets in 2012 after Standard & Poor’s raised its credit rating last week. The company is analyzing credit-market conditions as the European debt crisis hasn’t been “very helpful,” Chief Financial Officer Tito Martins said yesterday in an interview in New York after the company presented its 2012 investment plan.

(Added Nov. 29. News: VALE3 BZ (VALE3))


INDONESIA hired HSBC Holdings Plc, JPMorgan Chase & Co and Standard Chartered Plc for a dollar-denominated bond sale expected next year, according to a person familiar with the matter.

The notes are expected to be benchmark in size, said another person familiar with the matter, asking not to be identified because the details are private. Benchmark typically means at least $500 million.

(Added Nov. 21. News: TNI NEWBON INDO)

KOREA DEVELOPMENT BANK, or KDB, is reviving plans to sell the country’s first Islamic bonds in Malaysia after an index of ringgit debt climbed to a record.

The state-owned lender is starting a program to sell as much as 3.5 billion ringgit ($1.1 billion) of Islamic and non- Islamic securities, Kuala Lumpur-based RAM Rating Services Bhd., the largest of Malaysia’s two ratings companies, said in a Nov. 4 statement.

(Added Nov. 9. News: KDBZ KS)

KOREA MIDLAND POWER CO., a unit of Korea Electric Power Corp., 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 (KEP))


PBG SA, Poland’s third-largest construction company, aims to be ready with a Eurobond sale at the beginning of 2012 and the company will wait for the “right moment” to issue, Chief Financial Officer Przemyslaw Szkudlarczyk told reporters in Warsaw on Nov. 18. PBG, which agreed with lenders to increase the upper limit on its debt covenant, sees the cost of its debt rising 100 basis points to 200 basis points based on the agreement, the CFO said.

(Updated Nov. 18. News: PBG PW (PBG))

ROMANIA is still seeking a “window of opportunity” for the sale of international bonds this year even though the conditions are “tough,” Deputy Finance Minister Bogdan Dragoi said Nov. 24 in an interview in Bucharest after a road show in the U.S. and U.K.

(Updated Nov. 24. News: TNI ROMANIA NEWBON)


BANCO DE CREDITO DEL PERU may become the Andean country’s first issuer of bonds in Asia next year as the nation’s lending grows as much as 16 percent, Chief Executive Officer Walter Bayly said at a banking conference in Lima on Nov. 24.

(Added Nov. 25. News: TNI NEWBON PERU)

COMISION FEDERAL DE ELECTRICIDAD, Latin America’s largest utility by revenue, hired Banco Bilbao Vizcaya Argentaria SA (BBVA), BNP Paribas SA and Citigroup Inc. to arrange meetings with bond investors, according to a person familiar with the discussions.

CFE, as the company is also known, will meet with investors in the U.S. from Nov. 30 to Dec. 1, said the person, who asked not to be identified because the discussions are private.

(Added Nov. 21. News: 1016Z MM)

CORPORACION FINANCIERA DE DESAROLLO SA, or Cofide, as Peru’s state development bank is known, will meet with investors in January before selling as much as $500 million of bonds in its first overseas debt sale, Chief Executive Officer Jorge Ramos said in a Nov. 24 interview.

(Added Nov. 25. News: TNI NEWBON PERU)

EMPRESA NACIONAL DEL PETROLEO, Chile’s state oil refiner also known as ENAP, hired Banco Bilbao Vizcaya Argentaria SA, HSBC Holdings Plc, JPMorgan Chase & Co and Mitsubishi UFJ Securities to arrange meetings with bond investors, according to a person familiar with the discussions.

The meetings will take place in the U.S. and the U.K. from Nov. 25 to Nov. 30, said the person, who asked not to be identified because the discussions are private.

(Added Nov. 22. News: 1030Z CI)

MASISA SA, 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 (MASISA))

PETROLEOS MEXICANOS, Latin America’s largest oil producer, met with investors last week in Canada, according to a person familiar with the discussions.

Pemex, as the state-owned company is known, hired Bank of America Corp., HSBC Holdings Plc and Scotia Capital to arrange the meetings, said the person, who asked not to be identified because the discussions are private.

(Added Nov. 10. News: 1232Z MM)

PERU will probably wait until next year to sell bonds overseas as Europe’s debt crisis roils global markets, Finance Minister Miguel Castilla said.

The government doesn’t see a “massive need” for an international bond sale because of its budget surplus, Castilla said in a Nov. 11 interview in Honolulu, where he was attending the Asia-Pacific Economic Cooperation Forum.

(Updated Nov. 14. News: TNI PERU NEWBON)

PETROLEO BRASILEIRO SA, Latin America’s largest company by market value, hired BB Securities, Bradesco BBI, Credit Agricole CIB, Deutsche Bank AG, HSBC Holdings Plc and Banco Santander SA to organize meetings with European bond investors through Nov. 30, said a banker involved in the matter.

(Update Nov. 24. News: PETR4 BZ (PETR4))

RIO DE JANEIRO plans to sell bonds as early as next year to finance projects in the Brazilian city 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)

TELECOM ARGENTINA SA plans to sell as much as $500 million worth of debt within five years, according to a Nov. 15 filing to the Buenos Aires stock exchange.

The bond maturities will range from 30 days to 30 years, according to the filing. The Buenos Aires-based telephone company will propose the debt program to shareholders at a Dec. 15 meeting, the filing said.

(Added Nov. 16. News: TECO1 AR)


ABU DHABI NATIONAL ENERGY COMPANY, known as TAQA, is to hold meetings with fixed-income investors in Asia, London and the U.S., according to a banker with knowledge of the arrangements.

Bank of America Merrill Lynch, Mitsubishi UFJ Securities, Standard Chartered Bank and Royal Bank of Scotland Group Plc will arrange the meetings.

(Added Nov. 21. News: TAQA UH (TAQA))

AL HILAL BANK, a state-owned lender in the United Arab Emirates, hired HSBC Holdings Plc, Standard Chartered Plc and National Bank of Abu Dhabi to arrange the sale of Islamic bonds, a person familiar with the deal said.

The sale is likely to happen in the first quarter of next year, the person said, declining to be identified because the details of the transaction are confidential.

(Added Nov. 14. News: 1023350Z UH)

ALBARAKA TURK KATILIM BANKASI AS, 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 (ALBRK))

MAJID AL FUTTAIM HOLDING LLC, the operator of Carrefour SA stores in the Middle East, will seek to raise about $500 million from the sale of five-year Islamic bonds to boost cash reserves, its treasury manager said.

“There is definitely a pocket of liquidity in the Islamic area that is looking for good deals,” Daniele Vecchi said in a telephone interview on Nov. 20. “We have a rating, an established business model, a proven performance track record, all the characteristics to be interesting to an Islamic investor.”

(Added Nov. 21. News: 924669Z UH)

NIGERIA, Africa’s biggest oil producer, may sell as much as $1 billion of Islamic bonds out of Malaysia next year as the country develops its Shariah-compliant financial services industry, central bank Governor Lamido Sanusi said.

The government of Africa’s most populous nation formed a technical committee, which is being trained by HSBC Holdings Plc and CIMB Group Holdings Bhd., to prepare for its maiden sale of Shariah-compliant bonds, or sukuk, which may have maturities of five to seven years, Sanusi told reporters in Kuala Lumpur on Nov. 15. Advisors have not yet been appointed for the sale, which will be decided by the finance ministry, he said.

(Added Nov. 15. News: TNI NIGERIA NEWBON)

SOUTH AFRICA hired Barclays Plc, Nedbank Group Ltd. and Rand Merchant Bank to arrange bond investor meetings in Europe and the U.S. through Dec. 1, according to a person familiar with the plans who declined to be identified in accordance with policy.

To contact the reporter on this story: Drew Benson in New York at

To contact the editor responsible for this story: David Papadopoulos at

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