EBRD May Issue Bonds in U.S. Dollar Offering: New Issue Alert

European Bank for Reconstruction and Development, the lender founded in 1991 to finance projects in former Communist countries, is among borrowers planning to sell at least $3.3 billion of bonds in the U.S., according to data compiled by Bloomberg.

Borrowers sold $9.1 billion of bonds in the U.S. yesterday, the most since Sept. 14, Bloomberg data show. Companies have sold $930.4 billion of bonds this year, compared with $889.4 billion in the similar period of 2010.

Following is a description of pending sales of corporate and other bonds.

Investment Grade

EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT, the lender founded in 1991 to finance projects in former Communist countries, hired Goldman Sachs Group Inc., HSBC Holdings Plc and Morgan Stanley to manage a benchmark offering of five-year bonds, according to a person with knowledge of the offering who declined to be identified because terms aren’t set. Benchmark sales are typically at least $500 million.

(Added Oct. 13. See 6044Z LN .)

BANCO DE BOGOTA SA, the unit of Grupo Aval Acciones y Valores, plans to sell $1 billion of 10-year senior unsecured notes denominated in U.S. dollars, Moody’s Investors Service said on Sept. 22. Moody’s said that it would rate the proposed notes Baa2.

(Updated Sept. 26. See BOGOTA CB.)

INDIAN RAILWAY FINANCE CORP., the funding arm of India’s rail ministry, plans to sell $300 million of dollar-denominated bonds to fund train purchases. The fixed-rate notes due in five years may pay a coupon lower than the 4.406 percent set at its March sale, Managing Director Rajendra Kashyap said in an

TRITON CONTAINER INTERNATIONAL LTD, the world’s largest owner-lessor of marine intermodal cargo containers, plans to sell $180 million of senior notes, according to a statement distributed by Standard & Poor’s. S&P assigned a BBB issue-level


UNION BANK OF INDIA LTD., the Mumbai-based lender that went public in 2002, hired banks to help it arrange a series of credit investor meetings in Asia and Europe, according to a person with knowledge of the transaction. The bank may consider a sale of dollar bonds thereafter subject to market conditions, the person said, asking not to be identified as details are private. Bank of America Corp., Barclays Plc, Citigroup Inc., HSBC Holdings Plc, Deutsche Bank AG and Standard Chartered Plc

Not Rated

BANCO BICE plans to sell $120 million of five-year bonds

UCO BANK, a Kolkata, India-based state-owned bank, plans to meet with debt investors in Hong Kong, London and Singapore 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. and Standard Chartered Plc will arrange the so-called non-deal

PRONACA will sell $50 million in bonds to help refinance existing debt, the Bolsa de Valores de Quito said. Ecuador’s biggest food processing company will sell the bonds, which have maturities ranging from 3.2 years to 5.9 years, to yield between

AKKORD INDUSTRY CONSTRUCTION I, a civil engineering firm based in Baku, Azerbaijan, plans to sell $100 million of bonds in U.S. dollars, according to data compiled by Bloomberg. The notes will be due in three years, the data show.

(Added Aug. 8. See http://www.akkord.az/)

High Yield

KINETIC CONCEPTS INC., the wound-care company that’s being purchased by Apax Partners Inc., plans to sell $1.65 billion of senior secured notes denominated in euros and dollars. The company canceled plans to issue $900 million in unsecured bonds denominated in dollars, according to a person familiar with the offering who declined to be identified because terms aren’t set. Moody’s assigned the debt a grade of B3 and S&P ranked them.

(Added Oct. 11. See KCI US .)

EMDEON INC., the provider of billing systems and software for health-care companies, may sell $375 million of eight-year notes to help pay for its leveraged buyout by Blackstone Group LP and Hellman & Friedman LLC, according to a person familiar with the offering who declined to be identified because terms aren’t set. Moody’s rated the notes Caa1.

(Added Oct. 10. See EM US .)

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE, or VietinBank, may offer a coupon of 5 percent to 6 percent on its planned $500 million overseas bond sale, Chairman Pham Huy

MANNKIND CORP., the biotechnology company founded by billionaire investor Alfred Mann, plans to raise $370 million by selling senior secured discount notes due 2017, the Valencia, California-based firm said in a Sept. 23 statement distributed by Business Wire. Proceeds may be used to complete Phase 3 clinical trials of MannKind’s lead product candidate, Afrezza, preparing for the commercialization of Afrezza, continuing to

EMPRESA DE ENERGIA DE BOGOTA SA, 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 offering. Bogota-based EEB, as the utility is

YPF SA, Argentina’s dominant integrated oil company, may sell $300 million to $600 million of dollar-denominated eight-year notes, according to a July 8 note from Fitch Ratings, which rates the bonds BB-. The proceeds of the offering of senior unsecured notes may be used for general corporate purposes,

PROBUSINESSBANK hired BCP Securities LLC and UBS AG to arrange meetings with investors in Asia and Europe for a possible sale of bonds in dollars, said a banker with knowledge

Offerings in Pipeline

UNITED TECHNOLOGIES CORP., the maker of Pratt & Whitney jet engines, may raise $12 billion of debt to help finance its $16.5 billion acquisition of Goodrich Corp., Chief Financial Officer

CODELCO, the world’s largest copper producer, will look to sell bonds to help finance a record $4 billion investment in its

ENTERGY LOUISIANA LLC, the unit of the New Orleans-based power company, plans to sell about $206 million of bonds, according to a company statement. The offering was delayed and reauthorized after the utility violated regulations by

ISLAMIC BANK OF THAILAND, the nation’s state-owned bank,

DOLPHIN ENERGY LTD., the Dubai-based natural gas producer, will be “actively monitoring the market” and will release terms on its planned dollar benchmark bond issue in an

ABU DHABI may sell an international bond, Lars Boman,

ROMANIA has started work on upgrading its medium-term note program to include dollar-denominated notes, Deputy Finance Minister Bogdan Dragoi said at a conference in Bucharest. The

THE NETHERLANDS may sell “a few billion” of dollar-denominated bonds this year, according to the Dutch State Treasury Agency. The securities are likely to have five-year maturities, Peter Nijsse, the head of cash management, issuance and trading at the agency, said in an interview following a media presentation in London on June 10. The Netherlands is

CODERE SA, Spain’s only publicly traded gambling operator, may sell its first dollar-denominated bonds to refinance existing debt in euros, Chief Financial Officer David Elizaga said in an interview. Codere, which has 760 million euros ($1.1 billion) of bonds maturing in 2015, will sell “certainly a minimum of $400 million” in the securities that will help the

EL TEJAR SA, the world’s largest grain producer, plans to sell as much as $300 million of bonds in the U.S. this year before a planned initial public offering, according to the company’s chief financial officer. The Buenos Aires-based company could accelerate plans for the IPO depending on investor reaction to the sale of between $200 million and $300 million of

BHARTI AIRTEL LTD., India’s biggest mobile-phone operator, plans to raise $750 million selling its first overseas bonds, according to Fitch Ratings. Fitch graded the notes BBB-, the

CHINA AUTOMATION GROUP LTD. plans to issue $200 million of senior notes due 2016 to yield 7.75 percent, the company said in a statement to the Hong Kong stock exchange on April 14. UBS AG

ASTON RESOURCES LTD., the Australian mineral exploration company, is considering selling bonds in the U.S. to help raise funds to develop its Maules Creek coal project in New South Wales, Chief Executive Officer Todd Hannigan said at a business

MONGOLIA is planning its first sale of sovereign bonds, seeking about $500 million, to establish a benchmark that would help companies from the resource-rich nation located between China and Russia raise funds from credit markets. The issue will be used to finance expansion of the mining industry and build

AVG TECHNOLOGIES, the Czech maker of Internet security software, plans to sell bonds to U.S. investors to raise money for dividends and acquisitions, Siobhan MacDermott, AVG’s Prague-based investor relations officer, said in an interview Feb. 10. The producer of a free antivirus program that competes

TATA STEEL LTD., India’s biggest producer of the alloy, plans to sell $500 million of debt by the middle of this year,

GAIL INDIA LTD., the nation’s largest natural gas

AL BARAKA BANK EGYPT ESC, a unit of Bahrain-based Albaraka Banking Group, may sell dollar-denominated Islamic bonds in the

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