LONDON, Oct 24 (Reuters) - Following is a summary of expected new issues from sovereign and quasi-sovereign borrowers in central and eastern Europe, Africa and the Middle East in the international debt market.
The list, divided into regions and then in alphabetical order by country, was compiled from information provided by borrowers, banks mandated to lead manage the issues and other primary market sources. All terms and conditions are indicative.
Details of upcoming bond issues can be telephoned into the London newsroom on +44 20 7542 6320/6176 or e-mailed to carolyn.cohn@reuters.com or sujata.rao@reuters.com.
(OFFICIAL) indicates confirmed by borrower.
+++ ALL NEW ISSUES ARE SUBJECT TO MARKET CONDITIONS +++
CENTRAL, EASTERN EUROPE
--------------------- ALBANIA ------------------------
ALBANIA - Albania plans to issue a debut Eurobond worth around 300 million euros by spring 2008, the Finance Minister said on June 29, shortly after Moody's Investors Service gave the country its first credit rating, at B1. (OFFICIAL)
--------------------- AZERBAIJAN -----------------------
AZERBAIJAN - Azerbaijan will likely postpone its $300 million debut sovereign Eurobond to next year due to the global liquidity crunch, the country's Finance Minister said on Sept 27. Samir Sharifov said the bond's size could be raised to $500 million when market conditions improve. Citi and Deutsche Bank are advising on the issue. (OFFICIAL)
IBA - International Bank of Azerbaijan, the Caucasus state's leading bank, said on June 13 it planned to issue $200 million in Eurobonds around year-end. (OFFICIAL)
---------------------- BELARUS ---------------------------
BELARUS - Ex-Soviet Belarus plans to issue a Eurobond next year and may issue bonds of up to 10 billion Russian roubles this year, Finance Minister Nikolai Korbut was quoted by Interfax Zapad news agency as saying on Aug 23. Belarus received its first credit ratings -- B+ from Standard & Poor's and B1 from Moody's -- in August.
-------------------- CZECH REPUBLIC ---------------------
CZECH REPUBLIC - The Czech Finance Ministry is not considering a Eurobond right now due to poor conditions in the credit markets, Deputy Minister Eduard Janota told Reuters on Oct 10. Janota added a bond could be issued at a later date but gave no details. (OFFICIAL)
--------------------- KAZAKHSTAN ------------------------
KAZAKHSTAN - Kazakhstan redeemed its last outstanding Eurobond, worth $350 million, on May 11, the country's Finance Ministry said. It has not announced any plans to tap the Eurobond market again in the near future.
EURASIA DEVT BANK - Eurasia Development Bank, set up to finance infrastructure projects in Russia and Kazakhstan, said on July 10 it plans to issue Eurobonds worth $300 million in the fourth quarter, as part of its $3 billion MTN programme organised by Citigroup and Goldman Sachs. (OFFICIAL)
KAZTRANSOIL - Kazakhstan's state oil pipeline company plans to issue a Eurobond for at least $1 billion in 2007 to fund construction of new pipelines, Chief Financial Officer Shannat Satubaldina said on Feb. 27. (OFFICIAL)
-------------------- LATVIA -----------------------------
LATVIA - Latvia has mandated HSBC and UBS for its forthcoming Eurobond, the launch of which will probably be around November, an official at one of the banks managing the sale said on Oct 4.
Latvia plans to issue 500 million euros of Eurobonds in the autumn and cancel almost all domestic T-bill issues, the State Treasury said on June 21. (OFFICIAL)
-------------------- POLAND ------------------------------
POLAND - Poland's finance ministry picked Daiwa Securities and Mitsubishi UFJ Securities to lead manage a planned yen-denominated bond, the finance ministry said on Oct 2. The ministry said previously it wanted to launch the issue in the fourth quarter. (OFFICIAL)
------------------ ROMANIA -------------------------------
ROMANIA - Romania called for lead manager bids for a 10-year Eurobond issue, the finance and economy ministry said on Oct 11. Romania's finance minister has previously said the issue could be launched in November or December. (OFFICIAL)
---------------------- RUSSIA ---------------------------
RUSSIA - Russia's Finance Ministry sees no external borrowing in the near future, a top ministry official said on Oct 19. (OFFICIAL)
AK BARS BANK - Russia's Ak Bars bank plans to sell a Eurobond worth up to 300 million euros with a maturity of up to five years and an annual coupon rate of no more than 8 percent, the bank said on July 16. (OFFICIAL)
BANK OF MOSCOW - Bank of Moscow <MMBM.MM> postponed a five-year euro-denominated Eurobond because of volatile market conditions, one of the banks managing the sale said on July 6.
ROSNEFT - State-controlled oil firm Rosneft <ROSN.MM> plans to launch a postponed bond by the end of the year and is looking at an issue of around $2 billion with a maturity of 5-10 years, its CFO told Reuters on Sept 11 (OFFICIAL). The issue was postponed in July due to market conditions.
SBERBANK - Russia's largest bank Sberbank <SBER03.M> plans to place a Eurobond worth $1 billion later this year, Interfax news agency quoted banking sources as saying on Oct 5. VTB - Russia's second-largest bank VTB <VTBRq.L> still plans to raise up to $5 billion on international capital markets, despite an expected increase in the cost of foreign borrowing, Troika Dialog brokerage said on Sept 4, citing bank officials' comments during a conference call with analysts.
VTB plans to borrow over $10 billion in 2007, most of it in bonds, the bank's senior vice president said on June 20. He said the bank was considering borrowing in Australian, Hong Kong and Singaporean dollars and Swiss francs. (OFFICIAL)
---------------------- TURKEY ---------------------------
Turkey still has $1.4 billion in financing to do this year though amortisations and coupon payments are three times that, analysts say.
---------------------- UKRAINE --------------------------
UKRAINE - Ukraine has not yet decided whether to issue foreign debt this year, but is hoping for a $300 million loan from the World Bank, the deputy finance minister said on Oct 18. The economy minister said at the beginning of this month that Ukraine may still issue foreign debt. (OFFICIAL)
INDUSTRIAL UNION OF DONBASS - Ukrainian steel producer Industrial Union of Donbass has postponed plans to sell a 5-year dollar bond due to "market volatility", an official at one of the banks managing the sale said on July 24.
KIEV - City of Kiev announced a tender on April 12 for a lead manager for a $300 million Eurobond issue in 2007, the deputy head of the city administration, Viktor Padalka, told Reuters. (OFFICIAL)
ODESSA - Ukraine's Black Sea port plans to issue debut Eurobonds worth $65 million this year, municipal authorities said on March 29. (OFFICIAL)
OSHCHADBANK - Ukraine state bank Oschadbank will delay issuing planned Eurobonds until next year, although it still wants to borrow $100 million, its chairman was quoted by the weekly Business as saying on Aug 13.
--------------------------------------------------------------
AFRICA
---------------------- KENYA ------------------------------
KENYA - Kenya will hold a non-deal roadshow on Oct 24 to gauge investor interest in a planned $300 million Eurobond, Finance Minister Amos Kimunya told Reuters on Oct 12. (OFFICIAL)
---------------------- NIGERIA ---------------------------
NIGERIA - Nigeria would consider all financing options, including a Eurobond, to raise money to cover high infrastructure costs, Nigeria's finance minister told Reuters on Oct 12. (OFFICIAL)
---------------------- ZAMBIA ------------------------------
ZAMBIA - Zambia is talking to rating agencies about receiving a credit rating, and after that it might issue an international bond, central bank governor Caleb Fundanga told Reuters in an interview on April 19. (OFFICIAL). Analysts speculate Zambia may receive a rating around 'B'.
MIDDLE EAST
------------------------ LEBANON --------------------------
LEBANON - The government could tap the market with a Eurobond to refinance one maturing in October, the country's central bank governor told Reuters in an interview on Sept 14. (OFFICIAL)
((Reporting by Carolyn Cohn and bureau reports; Reuters Messaging carolyn.cohn.reuters.com@reuters.net; +44 207 542 6320))
Keywords: EMERGING EUROBONDS
