National Amusements Inc., the movie-
theater operator and holding company controlled by billionaire
Sumner Redstone, is marketing debt after at least half a dozen
other borrowers withdrew offerings.

National Amusements may sell $390 million of seven-year
notes to refinance a bank credit line, according to a person
familiar with the offering. The debt may be issued next week,
said the person, who declined to be identified because terms
aren’t set.

Performance Food Group Co. pulled a planned $550 million
debt sale and WII Components Inc. withdrew a $115 million
offering yesterday, according to people familiar with the
transactions. Burlington Coat Factory Warehouse Corp., Ship
Finance International Ltd., Yuzhou Properties Co. and Vietnam
National Coal-Mineral Industries Group also canceled sales in
the past week.

The extra yield investors demand to own speculative-grade
corporate bonds rose 14 basis points to 604 basis points, the
most in more than a month, as credit markets weakened amid
growing concern over Europe’s debt crisis and increasing
tensions in the Korean peninsula, according to the Bank of
America Merrill Lynch U.S. High Yield Master II index. Yields on
the debt climbed 8 basis points to 7.89 percent.

High-yield, high-risk bonds are rated below Baa3 by Moody’s
Investors Service and less than BBB- by Standard Poor’s. A
basis point is 0.01 percentage point.

Yesterday’s Sales

Rain CII Carbon LLC sold $400 million of eight-year notes
to lead $850 million of junk-bond issuance yesterday, according
to data compiled by Bloomberg. High-yield sales of $1.56 billion
this week compare with $4.36 billion during the comparable
portion of last week, Bloomberg data show.

Investment-grade spreads widened 2 basis points to 177
basis points, according to the Bank of America Merrill Lynch
U.S. Corporate Master index. Average yields on the debt fell 2
basis points to 3.77 percent, the index data show.

There were no investment-grade corporate bond sales by U.S.
issuers yesterday, Bloomberg data show. Companies have issued
$1.32 billion of the debt this week, versus $5.53 billion a week
earlier.

The following is a description of at least $2.37 billion of
pending sales of dollar-denominated bonds in the U.S.

Investment Grade

MACQUARIE GROUP LTD., Australia’s biggest investment bank,
plans to sell hybrid securities denominated in U.S. dollars to
offshore investors. The new securities will be unsecured,
subordinated interests with non-cumulative distributions,
Macquarie said in a regulatory filing. The Sydney-based bank
will have an option to redeem them after five years or convert
them into preference shares, it said, without specifying how
much it aims to raise.

HONGKONG ELECTRIC CO. hired HSBC Holdings Plc, Royal Bank
of Scotland Group Plc and Standard Chartered Plc to manage a
benchmark sale of 10-year dollar bonds, according to a person
familiar with the matter. The sale of the senior, unsecured
notes is expected in the near future, subject to market
conditions, the person said, asking not to be identified as
details are private.

FIRST GULF BANK PJSC plans to sell five-year dollar-
denominated bonds that may yield between 3.25 percent and 3.5
percent, said three people familiar with the transaction, who
declined to be identified because terms aren’t set. BNP Paribas
SA, Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc and
National Bank of Abu Dhabi PJSC are arranging meetings with
investors, two people said on Nov. 1. The Abu Dhabi-based lender
is rated A2 by Moody’s.

TRANSNET LTD., South Africa’s state-owned ports, rail and
pipeline operator, said it may sell $1 billion worth of bonds in
international markets to pay for expansion. Transnet has 35.2
billion rand ($5 billion) of debt outstanding.

High Yield

NATIONAL AMUSEMENTS INC., the movie-theater and holding
company controlled by billionaire Sumner Redstone, plans to sell
$390 million of seven-year notes to refinance a bank credit
line, according to a person familiar with the transaction who
declined to be identified because terms aren’t set.

MURRAY ENERGY CORP. plans to sell $150 million of seven-
year senior notes, the Pepper Pike, Ohio-based company said in a
statement distributed by Business Wire. Proceeds may be used to
expand production capacity and preparation plan processing
capacity at certain mining operations, according to the
statement.

CYRELA BRAZIL REALTY SA EMPREENDIMENTOS E PARTICIPACOES,
Brazil’s biggest homebuilder, hired Banco do Brasil SA, Credit
Suisse Group AG, Itau Unibanco Holding SA and Morgan Stanley to
arrange bond investor meetings, according to a person familiar
with the matter. Cyrela will meet with investors in Asia, Europe
and the U.S., said the person, who declined to be identified
because the conversations are private. SP raised its rating on
the company one step to BB on Sept. 30.

DELONG HOLDINGS LTD., a Singapore-based steel trader, hired
Credit Suisse Group AG to help it organize meetings with
investors ahead of an international sale of guaranteed senior
notes. Money raised will be used to redeem 5 percent convertible
bonds due 2012, to repay bank loans and for acquisitions
relating to iron ore and other raw materials used by the steel
industry, the company said in a statement to Singapore’s stock
exchange. The dollar-denominated notes were assigned a
provisional rating of B3 by Moody’s Investors Service, the
ratings company said in a note.

FLAKEBOARD CO., the Canadian producer of fiberboard and
particleboard used to build furniture and countertops, plans to
sell $225 million of senior secured notes maturing in 2017, SP
said in a statement. The ratings company grades the proposed
U.S. dollar-denominated debt as B, according to the statement.

SPENCER SPIRIT HOLDINGS INC., the mall-based retailer of
accessory and Halloween items, plans to sell $150 million of
senior-secured notes due in 2016, according to a person familiar
with the transaction. Proceeds may be used to repay existing
debt and make a distribution to shareholders, said the person,
who declined to be identified because terms aren’t set. Wells
Fargo Co. and UBS AG are managing the sale, the person said.

PT ENERGI MEGA PERSADA, Indonesia’s second-biggest listed
oil company, hired Nomura Holdings Inc. to help it with a dollar
bond sale, according to a person familiar with the matter who
declined to be identified because terms aren’t set.

SI ORGANIZATION INC., the Lockheed Martin Corp. unit
formerly known as Enterprise Integration Group, may sell $175
million of senior subordinated notes, according to Standard
Poor’s. Proceeds may be used with $340 million of bank debt and
$370 million of new common stock to pay for its acquisition by
Veritas Capital, SP said.

TRANSDIGM GROUP INC., the aircraft-components manufacturer
that’s buying rival supplier McKechnie Aerospace Holdings Inc.,
plans to sell $780 million of senior subordinated notes to help
fund the acquisition, the Cleveland-based company said in a
filing with the Securities and Exchange Commission. The company
is also planning a $900 million term loan and a $300 million
revolving credit line, according to the filing. The notes were
rated B3 by Moody’s.

Offerings in Pipeline

RURAL ELECTRIFICATION CORP., India’s state-controlled
lender to power projects, hired Credit Agricole CIB, Royal Bank
of Scotland Group Plc and Standard Chartered Plc to sell $500
million of bonds. Rural Electrification aims to price 5.5-year
notes to yield between 195 basis points and 200 basis points
more than similar-maturity U.S. Treasuries Finance Director Hari
Das Khunteta said in a telephone interview from New Delhi on
Nov. 10.

JORDAN is selling $750 million of five-year bonds that will
be priced to yield 4.125 percent, according to two people with
knowledge of the sale. Arab Bank Plc, Credit Suisse Group AG,
HSBC Holdings Plc and JPMorgan Chase Co. are managing the
sale.

AMERICAN INTERNATIONAL GROUP INC., the bailed-out insurer,
plans to raise money in a debt sale as the company moves toward
independence from the U.S. government, it said in a regulatory
filing.

PTT EXPLORATION PRODUCTION PCL, Thailand’s only listed
oil and gas explorer, plans to sell bonds denominated in U.S.
dollars, according to a person familiar with the transaction.
PTT Exploration hired Barclays Plc to manage the sale, said the
person, who declined to be identified because terms aren’t set.
Barclays is arranging a U.S. dollar-denominated medium-term note
program for the company, the person said.

PTA BANK, or Eastern and Southern African Trade and
Development Bank, hired HSBC Holdings Plc and Standard Bank
Group Ltd. to arrange bond investor meetings in Europe and Asia,
according to two people with knowledge of the sale. The meetings
will be held in Hong Kong, Singapore, Zurich, Geneva and London,
said the people, who declined to be identified because terms
aren’t set. The company may sell dollar bonds after the
meetings, the people said.

MAQUINARIA ESPECIALIZADA MXO TRUST, a special-purpose
company expected to provide construction machinery services to
Corporacion GEO SAB de CV, hired Banco Santander SA to arrange
bond investor meetings, according to a person with knowledge of
the sale. A dollar bond sale may follow the meetings, to be held
in London, Boston, New York and Los Angeles, said the person,
who declined to be identified because terms aren’t set.

CREDIT BANK OF MOSCOW plans to sell five-year dollar bonds,
according to a person familiar with the transaction. The sale of
Reg S securities is being arranged by Commerzbank AG, ING Groep
NV and Raiffeisen Bank International, the banker said.

DOHA BANK QSC, Qatar’s third-largest bank, hired Morgan
Stanley and JPMorgan Chase Co. to manage a planned $500
million bond sale, its chief executive officer said. The
offering, announced on the Qatar Exchange website, will be
marketed to investors in the U.S., Europe and the Middle East,
Raghavan Seetharaman said in an Oct. 20 telephone interview.

BELARUS may sell debt in the U.S. and Asia, according to
Finance Minister Andrei Kharkovets. “We will undoubtedly enter
the Asian and the American markets,” Kharkovets said in an Oct.
15 interview in Moscow, declining to comment on the timing of
possible sales.

GEORGIAN RAILWAY LLC, the former Soviet republic’s state-
owned rail company, is preparing a bond roadshow in the U.S.,
Giorgi Gagnidze, the company’s financial director, said in
comments broadcast on Rustavi-2 television.

AL BARAKA BANK EGYPT ESC, a unit of Bahrain-based Albaraka
Banking Group, may sell dollar-denominated Islamic bonds in the
second half of 2011, the bank’s chairman said Sept. 29. The bank
has not decided on the size of the bond, he said.

TURKIYE IS BANKASI AS hired JPMorgan Chase Co., the Royal
Bank of Scotland Plc, Standard Bank Plc and Standard Chartered
to help find buyers for a planned bond sale during meetings in
the U.S. and Europe. Isbank made the announcement to the
Istanbul Stock Exchange after the market regulator approved a
sale of 1.45 billion liras ($1.03 billion) of bonds by the bank.
Isbank said the sale will be in dollars.

AEGIS LTD., an outsourcing unit of Essar Group, may sell
the first non-convertible dollar bonds from an Indian
information technology company. The company, which bought
PeopleSupport Inc. in 2008, may sell its bonds as part of a
financing package that would include a loan of as much as $350
million to consolidate debt, Chief Financial Officer C.M. Sharma
said.

JSW STEEL LTD, India’s third-largest steelmaker, plans to
sell dollar bonds for the first time in three years and as
rupee-denominated finance costs rise. JSW has applied for credit
ratings before a possible offshore bond sale to help build a 200
billion rupee ($4.3 billion) steel and power plant in West
Bengal, Chief Financial Officer Seshagiri Rao said.

ARGENTINA may sell $1 billion of bonds due in 2017, El
Cronista newspaper reported, without saying how it obtained the
information. The government is also planning to offer an
exchange for dollar bonds due in 2011 and 2012, the Buenos
Aires-based publication said.

INDONESIA plans to name three banks to help it sell about
$650 million of Islamic bonds, Dahlan Siamat, director for
Islamic financing at the finance ministry, said in a telephone
interview in Jakarta. The government sold its first
international Islamic dollar bonds in April 2009.

URUGUAY may sell as much as $1 billion of bonds in 2011,
including $500 million of dollar-denominated debt, Carlos Steneri, director of public credit at Uruguay’s Ministry of
Economy and Finance, said June 3 at a Latin Finance conference
in London. The dollar-denominated bonds may have a maturity of
20 years or more, Steneri said.

MALAYSIA plans to raise about $1 billion from its first
sale of conventional dollar bonds in eight years after drawing
bids for five times the Islamic debt it offered, a finance
ministry official said. The government may hire banks including
CIMB Group Holdings Bhd. and HSBC Holdings Plc to arrange the
sale by Sept. 30, said the official, who declined to be named as
the discussions are private. Malaysia raised $1.25 billion from
a Shariah-compliant dollar bond on May 27. Malaysia is rated A3
by Moody’s and A- by SP.

GHANA is considering selling its second dollar bond in 2011
to tap investor demand as the start-up of oil production boosts
economic growth and narrows the budget deficit, Deputy Finance
Minister Fifi Kwetey said. The government was considering a
“no-deal roadshow” to gauge international investors’ appetite,
Kwetey said in a May 26 interview in Abidjan. Ghana sold its
first global bond in 2007, raising $750 million to help fund the
construction of roads and power plants.

MONGOLIA plans to raise $500 million selling bonds in 2010
and the remainder of a planned $1.2 billion program will be sold
according to market conditions, Batbayar Balgan, director
general of the financial and economic policy department of
Mongolia, said at a forum in Ulan Bator on June 16. The
government scaled back its plans for global bond sales after
Europe’s debt crisis drove up borrowing costs. Investment banks
are advising Mongolia to issue debt with maturities of 5 years
to 10 years, Finance Minister Sangajav Bayartsogt said in a Feb.
9 interview. The securities may yield 8 percent to 11 percent,
he said.

To contact the reporter on this story:
Tim Catts in New York at
tcatts1@bloomberg.net.

To contact the editor responsible for this story:
Alan Goldstein at
agoldstein5@bloomberg.net.