Expected debt issues-Central & Eastern Europe

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The list, 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 2464 or e-mailed to daniel.bases@reuters.com

(OFFICIAL indicates confirmed by borrower)

+++ ALL NEW ISSUES ARE SUBJECT TO MARKET CONDITIONS +++

--------------------- AZERBAIJAN -----------------------

AZERBAIJAN - Azerbaijan's government plans to raise $250 million with the issue of its first Eurobond -- expected to have a 5-year maturity -- at an annual yield of 5-6 percent, a senior official said on June 12.

State Economic Policy Adviser Vahid Akhundov did not give a date for the issue, which will only proceed once Azerbaijan is awarded a second sovereign rating. For full story, click on [ID:nL1262264]. The country has a rating of 'BB' from Fitch Ratings and 'Ba1' from Moody's Investors Service.

---------------------- BOSNIA -------------------------

BOSNIA - Bosnia's plans to start issuing short-term local securities this year will likely be postponed because revenue collection has improved, treasury minister Ljerka Maric told Reuters on May 3, 2006.

Maric said the first papers that could be issued by March 2008 would be 13-year bonds to repay $1.27 billion in pre-war hard currency deposits. The minister also said international markets would not be tapped until the government sorts out $278 million in rescheduled London Club debt. (OFFICIAL).

Analysts say such bonds could be issued in 2008.

--------------------- BULGARIA ----------------------

BULGARIA - Finance Minister Plamen Oresharski has said Bulgaria is not planning to issue any new debt, as the country has a large fiscal reserve and plans to run large budget surpluses ahead of planned ERM-2 entry next year.

NETC - Bulgarian state power firm NETC, the Balkan region's main energy exporter, said in July 2006 it might issue a bond to secure financing for the construction of a new 2,000 megawatt nuclear power plant, estimated to cost up to 4 billion euros.

UNITED BULGARIAN BANK - Bulgaria's third largest bank UBB said on July 28, 2006, it was delaying plans to issue a bond worth at least 100 million euros to 2007 due to unfavourable market conditions at present. UBB's senior unsecured debt is rated 'BBB-' by Standard & Poor's and 'BBB' by Fitch.

------------------------ CYPRUS -----------------------

CYPRUS - The Finance Ministry said on Jan. 4, 2006 that it plans to tap the Eurobond market between 2006 and 2009, but will maintain its limit on exposure to debt in foreign currency to a maximum of 30 percent of its total net debt.

- The additional borrowing would be mainly to cover refinancing requirements until 2009. Cyprus has not tapped the euro bond market since a 500 million euro issue of a 10-year bond in July 2004. (OFFICIAL)

-------------------- CZECH REPUBLIC ---------------------

CZECH REPUBLIC - Government said on Dec. 1 it will consider returning to the international debt markets in 2007 to curb local currency bond borrowing and help fund a deepening fiscal gap. For full story click on [ID:nL01873669]. (OFFICIAL)

----------------------- GEORGIA -------------------------

BANK OF GEORGIA - No. 2 commercial bank's chief executive officer Lado Gurgenidze told Reuters on Feb. 27 that it plans to issue around $100 million in different debt instruments this year. The bank plans to choose lead managers in the fourth quarter of 2006. For story, click on [ID:nL27384193]. (OFFICIAL)

---------------------- HUNGARY --------------------------

HUNGARY - Hungary plans to carry out most of its expected 528 billion forints worth of foreign currency denominated bond issuance in the first half of next year, the Government Debt Management Agency (AKK) said on Dec. 13.

(To read the Instant View with summary of Hungary's debt plans, please click on [ID:nL13789276].)

--------------------- KAZAKHSTAN ----------------------

KAZPOLMUNAI AND TOLKYNNEFTEGAS - Mid-sized Kazakh oil firms Kazpolmunai and Tolkynneftegas want to raise $300 million via a five-year Eurobond, a market source told Reuters on Dec. 13.

The bond will be issued through a special purpose vehicle, British Virgin Islands-registered Tristan Oil. The source said the issuer has given an annual coupon guidance of 10.5 percent.

KAZATOMPROM - Kazakhstan's uranium company Kazatomprom plans to issue a $166 million, 10-year Eurobond by the end of 2006 to help finance modernisation and achieve higher output, company chairman Mukhtar Dzhakishev said on Sept. 14, 2005. He said the issue would be lead managed by Citibank. The company is also considering a samurai bond, he added. Moody's assigned a 'Baa3' rating with a stable outlook on March 3, 2006. (OFFICIAL)

KAZTRANSOIL - Oil-transporting unit of Kazakhstan's state oil firm KazMunaiGas, said on Oct. 4, 2005 it would launch a Eurobond worth at least $200 million in 2006. Director General Kairat Krymov said the new bond would help finance the construction of a pipeline aimed at facilitating future oil transports from the giant Kashagan offshore field to the Caspian developed by an ENI-led consortium.

- KazMunaiGas said on July 11, 2006 that it would issue Eurobonds worth about $800 million in 2006 to finance its acquisition of a 50 percent stake in a private oil company KazGerMunai.

-------------------- POLAND ------------------------------

PKN ORLEN - Poland's leading fuel group PKN Orlen plans to issue around $900 million of Eurobonds to finance its takeover of Lithuanian peer Mazeikiu , chief financial officer Pawel Szymanski said on June 27. For story, click on [ID:nWAR004531]. (OFFICIAL)

POLAND - Poland will consider issuing yen, dollar and Swiss franc bonds depending on the success of its issue of euro-denominated bonds in January, Deputy Finance Minister Piotr Soroczynski told Reuters on Nov. 30. To read the full story, click on [ID:nWAR005062].

WARSAW - Mayor of the capital, Kazimierz Marcinkiewicz, said the city is likely to issue municipal bonds to complement some 5 billion euros ($6.4 billion) it expects to receive in European Union aid between 2007 and 2013. (For story, click on [ID:nL28438528]. (OFFICIAL)

------------------ ROMANIA -------------------------------

BRD - - Romania's second-largest bank, owned by France's Societe Generale, said on Sept. 7 it set a bond issuance ceiling of up to 500 million euros for 2006-2007. (For story, click on [ID:nL07876227]) OFFICIAL.

ROMANIA - Finance Minister Sebastian Vladescu said on June 19 the government might consider issuing Eurobonds in 2007 due to the prospects for improvement in Romania's debt rating. For story, click on [ID:nL19795675]. (OFFICIAL)

ROMPETROL - Romania's biggest private oil company said on Sept. 28, 2004 it decided to postpone the launch of a 150 million euro-denominated Eurobond until the Balkan country's credit rating was improved. In June 2004, Rompetrol appointed JP Morgan as lead manager for the issue.

TRANSELECTRICA - Romania's power transmission grid monopoly said on Sept. 7, 2004 it had scrapped plans to launch a debut Eurobond worth around 100 million euros in 2004. (OFFICIAL)

---------------------- RUSSIA ---------------------------

+++ To see a list of forthcoming Russian bonds only, please click on +++

---------------------- SERBIA ----------------------------

SERBIA - Serbia and Russia on Dec. 13 initialled a deal to settle mutual communist-era debts, with Serbia clearing its debt to Gazprom amassed in the 1990's and Russia repaying its liabilities through work in various energy sectors. To read full story, click on [ID:nL13195141].

---------------------- UKRAINE --------------------------

AVTOZAZ - Ukraine's largest car producer AvtoZAZ said on June 19 it plans to issue three-year debt worth between $175 million and $200 million in the near future. Russia's MDM Bank is lead managing the issue. For story, click on [ID:nL19787443].

BANK FINANCE AND CREDIT - Ukraine's Bank Finance and Credit put yield guidance on a Jan. 2010 loan participation note was in the 10.375 percent area, a market source familiar with the details of the deal said on Nov. 1. Lead managers of the deal, the size of which has not been set, are Deutsche Bank and UBS.

KHRESHCHATIK - One of Ukraine's top 20 banks by assets put yield guidance on a three-year U.S. dollar-denominated Eurobond at around 9 percent, a market source told Reuters on Sept. 11. The bank is said to be planning to issue $250 million worth of bonds. (For story, click on [ID:nL11491760]).

SOYUZ-VIKTAN - Ukraine's largest alcoholic drinks producer plans to issue Eurobonds in the third quarter of 2007, the chairman said on Oct. 16. For related story, click on [ID:nL16662095]. (OFFICIAL)

UKRAINE - Ukraine's government said on Dec. 7 it had decided to place a second tranche of 12-year Eurobonds worth 384 million Swiss francs. A statement dated Dec. 6 said the total amount of the issue would reach 768 million Swiss francs. The first tranche of the bonds was placed in September. To read the full story, click on [ID:nL07808885]. (OFFICIAL)

- Finance Minister Andriy Kravets said on Nov. 27 the government may borrow around $1.2 billion on the international capital markets in 2007. No decision on currencies or maturities have been made. For story click on [ID:nL27848675]. (OFFICIAL)

UKRSOTSBANK - Ukraine's sixth largest bank is planning to issue $200 million in Eurobonds and a $120-$150 million syndicated loan in November, Chairman Borys Tymonkin told Reuters exclusively on Oct. 26. The Eurobond is expected to be not more than three years and the loan would be a one-year with the possibility of a one-year extension. For related story, click on [ID: nL26161274]. (OFFICIAL)

- The bank had already mandated investment banks Credit Suisse and ABN AMRO to lead manage its second Eurobond issue planned for September or October in 2006. For story, click on [ID:nL14490281].

The bank previously said on Feb. 6 it planned international borrowing of between $600-$650 million in 2006, including between $150-$200 million in Eurobonds. (OFFICIAL)

[LONDON/Reuters/Finance.cz]