Page 1
mashreqFixed Income Trading
Daily Bond Market Update
Market Update
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Thursday, December 04, 2014
Dubai World restructuring set to adopt bankruptcy law
Dubai World, the government-owned conglomerate, is set to use provisions of the emirate’s special bankruptcy law to ensure an orderly process in the
restructuring of USD 15 billion of debts. A meeting of international bank creditors in London this week gave majority approval to the new refinancing
scheme, which has been under discussion since April. Voters representing two-thirds of the total value of loans supported the plan. This gives Dubai
World the authority to use Decree 57, the special law of 2010 that successfully eased the restructuring of USD 25bn worth of debt through creditor
ranks. The new proposal seeks to extend the repayment of USD 10.5bn of debt due in 2018 for an extra four years. In exchange, a smaller chunk of
USD 4.5bn maturing next year will be repaid early. Dubai World has offered “sweeteners” in the form of higher interest rates and collateral of shares in
DP World, the global port company it owns. (The National)
Qatar replaces wealth fund’s CEO with member a of the Royal Family
Qatar replaced the chief executive officer of its sovereign-wealth fund, Ahmed Al-Sayed, naming a royal family member to run the state-owned firm that
controls more than USD 100 billion in assets. Sheikh Abdullah bin Mohamed bin Saud Al Thani was appointed the successor, according to an
announcement yesterday on the Qatar News Agency. Qatar’s emir also shuffled the wealth fund’s board, naming Sheikh Abdullah bin Hamad Al Thani as
chairman and Sheikh Ahmed bin Jassim bin Mohamed Al Thani as vice chairman. The change came after Qatar’s former emir, Sheikh Hamad Bin Khalifa
Al Thani, handed power to his son Sheikh Tamim Bin Hamad Al Thani at the end of June and a new government was formed. Al-Sayed had been chief
executive of Qatar Holding LLC, the foreign investment arm of the QIA. (Bloomberg)
Eurozone retail sales return to growth; service sector in Italy expands
Recent data showed retail sales in the Eurozone returned to growth in October, pointing to rising demand from households after a weak 3Q2014. The
European Union's statistics office Eurostat said retail sales in the Eurozone rose 0.4% MoM in October for a 1.4% YoY gain. Although volatile, retail sales
data is a proxy for household demand, one of the weaker elements of the Eurozone's slow and fragile recovery. Eurostat data showed sales of non-food
products and fuel at petrol stations made the biggest contribution to the monthly rise in the index in October, with Finland and Germany reporting the
biggest gains. However, sales of food, drinks and tobacco were flat during the month. Meanwhile, the service sector in Italy expanded for the second
consecutive month in November, but new business fell slightly and employers continued to cut staff. The Markit/ADACI Business Activity Index for
Italian services companies rose to 51.8 in November from 50.8 in October. (Reuters)
WTI extends gain as U.S. stockpiles drop amid steady OPEC output
West Texas Intermediate rose for a second day as investors weighed an unexpected drop in U.S. crude inventories against the prospect of sustained
production from OPEC. Futures climbed as much as 0.6 % in New York. Crude stockpiles shrank by 3.69 million barrels last week, the Energy
Information Administration reported yesterday. Supplies were forecast to expand by 1.75 million, according to a Bloomberg News survey of analysts.
Iraq, the second-largest member of the Organization of Petroleum Exporting Countries, signed a deal with the Kurdish Regional Government that may
add about 300,000 barrels a day to the global market. (Bloomberg)
Topix rises to seven-year high as yen nears 120 after U.S. data
Japanese stocks rose for a fifth day, with the Topix index closing at a seven-year high after data showed renewed momentum in the U.S. economic
recovery and the yen touched its weakest since 2007. The Topix added 0.8 % to 1,440.60 in Tokyo, the highest close since December 2007. The Nikkei
225 Stock Average increased 0.9 % to 17,887.21. The yen fell 0.1 % to 119.90 per dollar. U.S. stocks closed at records on signs of progress in the
labor market and service industries, while European shares gained ahead of a central-bank decision on monetary policy today. (Bloomberg)
China stocks rise most since 2012 as Sinopec jumps with brokers
China's Shanghai Composite Index rose the most in two years as investors snapped up shares of brokerages and the biggest companies on speculation
the stock market’s world-beating rally has further to run. The Shanghai Composite rose 3.7 % to 2,883.55 at 2:42 p.m., extending gains to 19 % over
the past month, the most among 93 global equity indexes. The rally, which has coincided with increased use of leverage, is spurring mainland investors
to open share accounts at the fastest pace in three years and sending trading values to record highs. (Bloomberg)
Turkey inflation surge gives Basci Leeway to resist rate cuts
Turkish consumer price inflation accelerated more than anticipated in November, giving the central bank leeway to resist government pressure to cut
interest rates. The annual inflation rate rose to 9.2 % from 9 % in the previous month, Turkey’s statistics bureau said in a statement today. The median
estimate of 15 economists in a Bloomberg survey was 9 percent. (Bloomberg)
Bank of Russia lowers FX repo rates in bid to stabilize ruble
Russia’s central bank reduced the rate it charges banks to borrow foreign currency in a bid to slow the ruble’s slide and ease a dollar shortage. Bank of
Russia lowered the minimum one-week, 28-day and 12-month repurchase rates to 50 basis points above the London interbank offered rate, compared
with 150 basis points previously. Russia’s government acknowledged for the first time this week that the economy of the world’s biggest energy
exporter will fall into a recession next year, while a former central banker spoke of “some panic” in a financial system beleaguered by sanctions over the
conflict in Ukraine. The ruble has tumbled 38 %this year. (Bloomberg)
Cliffs Natural cancels bond buyback plan on refinancing costs
Cliffs Natural Resources Inc. said it’s canceled an offer to buy back some of its bonds after delaying a refinancing plan amid higher borrowing costs. The
biggest U.S. iron-ore producer said last month it would sell at least USD 1.1 billion of new debt to fund the buyback of as much as USD 600 million of
debentures maturing from 2018 to 2021. The securities will be returned to holders, it said in a PR Newswire statement yesterday. “With the unfavorable
move in market rates during the past few weeks, the prudent decision is to postpone the refinancing plans until market conditions improve,” Chief
Executive Officer Lourenco Goncalves said in the statement dated Dec. 3. “We will be patient and disciplined in assessing the capital markets.”
(Bloomberg)
Page 1
Page 2
Daily Bond Market Update
Rating Update
•
Change Change USD EUR AED
Spread Day YTD Last 1d Chg Last 1d Chg Last 1d Chg
iTraxx Europe 56.499 -0.409 -13.753 2-Year 0.765 0.000 0.202 -0.003 1.156 -0.002
iTraxx Europe Crossover 316.204 -8.295 29.568 5-Year 1.735 -0.008 0.407 0.003 2.317 -0.023
CDX North America IG 61.550 -0.641 -0.798 10-Year 2.404 -0.006 0.979 0.002 3.490 -0.040
CDX North America HY 332.406 -5.749 25.252 30-Year 2.952 -0.004 1.706 0.008 N/A N/A
iTraxx SovX Western Europe 29.254 0.000 -34.329 Source: Bloomberg
iTraxx SovX CEEMEA 269.545 6.075 38.790
iTraxx Europe Senior Financial 58.235 -0.682 -28.966
iTraxx Europe Sub Financial 133.753 0.760 5.129
Source: Bloomberg
Change Change Last Change
bps Spread Day YTD YTD (%)
Emirate of Abu Dhabi 5Y 66.500 1.000 11.500 S&P 500 2,074.33 12.23
Emirate of Dubai 5Y 185.000 5.000 -35.000 Dow Jones Industrial Avg 17,912.62 8.06
Kingdom of Bahrain 5Y 201.010 1.000 -18.990 DFM General Index 4,208.22 24.88
State of Qatar CDS 5Y 82.500 5.000 22.500 ADX General Index 4,762.02 11.00
Kingdom of Saudi Arabia 5Y 70.000 0.000 10.000 Qatar Exchange Index 12,691.47 22.27
Lebanese Republic 5Y 365.070 -1.000 -30.000 TASI 8,897.01 4.23
Republic of Turkey 5Y 157.000 -0.500 -88.000 Spot Gold 1,204.51 0.24
Arab Republic of Egypt 5Y 270.075 -1.000 -334.485 Spot Silver 16.46 -15.45
Source: Bloomberg WTI Crude 67.67 -26.40
Source: Bloomberg
Change Change
1 Month 1 Year
Mashreq Al-Islami Income Fund 15.28769 1.04% 7.08%
Mashreq Arab Tigers Fund 19.28554 -6.49% 16.95%
Makaseb Income Fund 12.79513 0.76% 5.53%
Source: Bloomberg
Moody's lowers Petrobras' baseline credit assessment and affirms the global ratings at Baa2
Moody's Investors Service today affirmed Petrobras S.A.'s global foreign currency and local currency debt ratings, both Baa2. Moody's also lowered
Petrobras' Baseline Credit Assessment (BCA) to ba1 from baa3. The outlooks on all of the ratings remain negative for Petrobras. (Moody’s)
Thursday, December 04, 2014
33.07
CREDIT MARKETS SWAPS
bps
CDS MISCELLANEOUS
Change
Day
7.78
0.29
MUTUAL FUNDS
Last (NAV)
22.11
96.01
79.14
95.33
-4.92
0.05
Page 2
Page 3
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Abu Dhabi Govt Int'L XS0422754258 08-Apr-19 1500 100/1 100 USD Fixed 6.750 119.38 121.38 1.62 AA /Aa2 /AA
Arab Republic Of Egypt XS0505265859 29-Apr-20 1000 100/1 100 USD Fixed 5.750 105.13 109.13 3.86 B- /Caa1 /B-
Arab Republic Of Egypt XS0505478684 30-Apr-40 500 100/1 100 USD Fixed 6.875 103.75 107.75 6.26 B- /Caa1 /B-
Bahrain (CBB Int.) (S) XS0708899272 22-Nov-18 750 100/1 100 USD Fixed 6.273 114.63 116.13 2.01 BBB /- /-
Commonwealth Of Bahamas USP06518AF40 16-Jan-24 300 200/1 100 USD Fixed 5.750 106.38 108.38 4.61 BBB /Baa2 /-
Dubai Government (S) XS0778097088 02-May-17 600 200/1 100 USD Fixed 4.900 108.50 109.50 0.89 Not Rated
Dubai Government (S) XS0778097674 02-May-22 650 200/1 100 USD Fixed 6.450 119.25 120.25 3.34 Not Rated
Dubai Government (S) XS0880424337 30-Jan-23 750 200/1 100 USD Fixed 3.875 100.50 101.50 3.66 Not Rated
Dubai Govt Int'L Bonds XS0546426528 05-Oct-15 500 100/1 100 USD Fixed 6.700 104.88 105.38 0.17 Not Rated
Dubai Govt Int'L Bonds XS0546428144 05-Oct-20 750 100/1 100 USD Fixed 7.750 124.13 126.13 2.85 Not Rated
Dubai Govt Int'L Bonds XS0640032594 22-Jun-21 500 100/1 100 USD Fixed 5.591 112.63 113.63 3.26 Not Rated
Dubai Dof Sukuk Ltd (S) XS1062038143 30-Apr-29 750 200/1 100 USD Fixed 5.000 101.75 102.75 4.73 Not Rated
Dubai Govt Int'L Bonds XS0880597603 30-Jan-43 500 200/1 100 USD Fixed 5.250 95.13 97.13 5.45 Not Rated
Gabonese Republic XS0333225000 12-Dec-17 185 100/1 100 USD Fixed 8.200 110.25 112.25 3.85 BB- /- /BB-
Gabonese Republic XS1003557870 12-Dec-24 1500 200/0.001 100 USD Fixed 6.375 100.63 102.63 6.02 BB- /- /BB-
Govt Of Bermuda USG10367AB96 06-Feb-24 750 200/1 100 USD Fixed 4.854 104.88 106.88 3.95 AA- /A1 /A+
Islamic Rep Of Pakistan USY8793YAK83 31-Mar-16 500 100/1 100 USD Fixed 7.125 101.88 103.88 4.04 B- /Caa1 /-
Islamic Rep Of Pakistan USY8793YAM40 01-Jun-17 750 100/1 100 USD Fixed 6.875 102.00 104.00 5.13 B- /Caa1 /-
Islamic Rep Of Pakistan XS1056560763 15-Apr-19 1000 200/1 100 USD Fixed 7.250 103.50 104.50 6.06 B- /Caa1 /-
Islamic Rep Of Pakistan XS1056560920 15-Apr-24 1000 200/1 100 USD Fixed 8.250 105.63 106.63 7.26 B- /Caa1 /-
Islamic Rep Of Pakistan USY8793YAL66 31-Mar-36 300 100/1 100 USD Fixed 7.875 94.13 96.13 8.26 B- /Caa1 /-
Ivory Coast XS1089413089 23-Jul-24 750 200/1 100 USD Fixed 5.375 96.00 98.00 5.65 - /B1 /B
Ivory Coast XS0496488395 31-Dec-32 2519 100/1 100 USD Step Cpn 5.750 96.25 98.25 5.99 - /- /B
Kingdom Of Bahrain XS0498952679 31-Mar-20 1250 100/1 100 USD Fixed 5.500 107.50 109.00 3.62 BBB /NR /BBB
Kingdom Of Bahrain XS0794901727 05-Jul-22 1500 200/1 100 USD Fixed 6.125 111.00 112.50 4.18 BBB /- /BBB
Kingdom Of Bahrain XS0956406135 01-Aug-23 1500 200/1 100 USD Fixed 6.125 111.00 112.50 4.37 BBB /- /BBB
Kingdom Of Bahrain XS1110833123 19-Sep-44 1250 200/1 100 USD Fixed 6.000 99.00 100.50 5.96 BBB /- /BBB
Kingdom Of Jordan XS0557127353 12-Nov-15 750 200/1 100 USD Fixed 3.875 99.75 101.75 1.96 BB- /B1 /-
Kingdom Of Morocco XS0307883891 27-Jun-17 500 50/1 100 EUR Fixed 5.375 108.88 110.88 1.03 BBB- /Ba1u /BBB-
Kingdom Of Morocco XS0546649822 05-Oct-20 1000 50/1 100 EUR Fixed 4.500 110.75 112.75 2.15 BBB- /- /BBB-
Sovereign
Page 3
Page 4
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Kingdom Of Morocco XS0850020586 11-Dec-22 1500 200/1 100 USD Fixed 4.250 101.50 103.50 3.74 BBB- /- /BBB-
Kingdom Of Morocco XS1079233810 19-Jun-24 1000 100/1 100 EUR Fixed 3.500 102.75 104.75 2.92 BBB- /- /BBB-
Kingdom Of Morocco US617726AG97 11-Dec-42 750 200/1 100 USD Fixed 5.500 102.13 105.13 5.15 BBB- /- /BBB-
Lebanese Republic XS0493540297 09-Mar-20 1200 1/1 100 USD Fixed 6.375 103.38 106.38 4.98 B- /NR /B
Malays Govt (S) USY9485PAA04 06-Jul-16 1200 250/1 100 USD Fixed 2.991 102.25 103.25 0.91 A- /A3 /-
Malays Govt (S) USY9485PAB86 06-Jul-21 800 250/1 100 USD Fixed 4.646 110.13 111.63 2.70 A- /A3 /-
Mongolia Intl Bond US60937GAA40 05-Jan-18 500 200/1 100 USD Fixed 4.125 93.50 96.00 5.56 B+ /B2 /B+
Mongolia Intl Bond US60937GAB23 05-Dec-22 1000 200/1 100 USD Fixed 5.125 88.00 90.50 6.68 B+ /B2 /B+
Provincia De Buenos Aire XS0546539486 05-Oct-15 1050 100/1 100 USD Fixed 11.750 96.00 98.50 13.68 CCC- /Caa2 /-
Rak Capital (S) XS0568993918 28-Jan-16 400 100/1 100 USD Fixed 5.239 104.75 105.75 0.18 A /- /A
Rak Capital (S) XS0981184541 21-Oct-18 500 200/1 100 USD Fixed 3.297 102.88 104.88 1.98 A /- /A
Republic of Angola XS0814512223 16-Aug-19 1000 250/1 100 USD Fixed 7.000 101.88 103.88 6.04 BB- /Ba2 /-
Republic Of Azerbaijan XS1044540547 18-Mar-24 1250 200/1 100 USD Fixed 4.750 100.13 101.63 4.53 - /Baa3 /BBB-
Republic Of Congo XS0334989000 30-Jun-29 427 0.893/0.893 100 USD Step Cpn 3.500 93.00 94.50 6.06 - /- /B+
Republic Of Ghana XS0323760370 04-Oct-17 531 100/1 100 USD Fixed 8.500 104.38 106.38 6.00 B- /B2 /B
Republic Of Ghana XS0956935398 07-Aug-23 1000 200/0.001 100 USD Fixed 7.875 97.75 99.75 7.91 B- /B2 /B
Republic Of Ghana XS1108847531 18-Jan-26 1000 200/1 100 USD Fixed 8.125 98.00 100.00 8.12 B- /B2 /B
Republic of Indonesia (S) USY68616AA22 21-Nov-18 1000 200/1 100 USD Fixed 4.000 103.00 105.00 2.66 BB+ /Baa3 /BBB-
Republic of Indonesia (S) US71567RAB24 15-Mar-19 1500 200/1 100 USD Fixed 6.125 111.13 112.63 2.95 BB+ /Baa3 /BBB-
Republic of Indonesia (S) US71567RAA41 21-Nov-22 1000 200/1 100 USD Fixed 3.300 95.25 96.75 3.78 BB+ /Baa3 /BBB-
Republic Of Indonesia USY20721BD05 15-Apr-23 1500 200/1 100 USD Fixed 3.375 96.13 97.63 3.71 BB+ /Baa3 /BBB-
Republic Of Indonesia USY20721BJ74 15-Jan-24 2000 200/1 100 USD Fixed 5.875 114.50 116.00 3.78 BB+ /Baa3 /BBB-
Republic of Indonesia / Perusah (S) US71567RAC07 10-Sep-24 1500 200/1 100 USD Fixed 4.350 100.63 102.13 4.08 - /Baa3 /BBB-
Republic Of Indonesia USY20721BB49 17-Jan-42 2250 200/1 100 USD Fixed 5.250 102.63 104.13 4.97 BB+ /Baa3 /BBB-
Republic Of Indonesia USY20721BE87 15-Apr-43 1500 200/1 100 USD Fixed 4.625 93.88 95.38 4.93 BB+ /Baa3 /BBB-
Republic Of Indonesia USY20721BK48 15-Jan-44 2000 200/1 100 USD Fixed 6.750 124.63 126.13 5.03 BB+ /Baa3 /BBB-
Republic Of Kazakhstan XS1120709669 14-Oct-24 1500 200/1 100 USD Fixed 3.875 93.88 95.38 4.46 BBB+ /Baa2 /BBB+
Republic Of Kazakhstan XS1120709826 14-Oct-44 1000 200/1 100 USD Fixed 4.875 89.50 91.00 5.49 - /Baa2 /BBB+
Republic Of Kenya XS1028951850 24-Jun-19 750 200/1 100 USD Fixed 5.875 102.50 104.00 4.88 B+ /- /B+
Republic Of Kenya XS1028952403 24-Jun-24 2000 200/1 100 USD Fixed 6.875 106.63 108.13 5.76 B+ /- /B+
Republic of Mozambique XS0969351450 11-Sep-20 850 200/1 100 USD Fixed 6.305 98.38 100.38 6.22 - /B1 /-
Republic Of Namibia XS0686701953 03-Nov-21 500 200/1 100 USD Fixed 5.500 107.38 108.88 4.01 - /Baa3 /BBB-
Republic Of Nigeria XS0944707651 12-Jul-18 500 200/1 100 USD Fixed 5.125 100.50 102.50 4.36 BB- /- /BB-
Republic Of Nigeria XS0584435142 28-Jan-21 500 200/1 100 USD Fixed 6.750 105.38 107.38 5.32 BB- /- /BB-
Page 4
Page 5
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Republic Of Nigeria XS0944707222 12-Jul-23 500 200/1 100 USD Fixed 6.375 102.63 104.63 5.69 BB- /- /BB-
Republic Of Rwanda XS0925613217 02-May-23 400 200/1 100 USD Fixed 6.625 102.50 104.50 5.94 B /- /B+
Republic Of Senegal XS0625251854 13-May-21 500 200/1 100 USD Fixed 8.750 114.38 116.38 5.67 B+ /B1 /-
Republic Of Senegal XS1090161875 30-Jul-24 500 200/1 100 USD Fixed 6.250 99.25 101.25 6.08 B+ /B1 /-
Republic Of Seychelles XS0471464023 01-Jan-26 169 0.1/0.1 100 USD Step Cpn 5.000 96.38 99.38 7.70 - /- /B+
Republic Of Slovenia XS0982708926 18-Feb-19 1500 200/1 100 USD Fixed 4.125 104.75 106.25 2.54 A- /Ba1 /BBB+
Republic Of Slovenia XS0982709221 18-Feb-24 2000 200/1 100 USD Fixed 5.250 109.38 110.88 3.83 A- /Ba1 /BBB+
Republic Of South Africa XS0250007498 05-Apr-16 750 50/1 100 EUR Fixed 4.500 104.13 105.63 0.23 BBB- /Baa2 /BBB
Republic Of South Africa US836205AD62 23-Jun-17 141 1/1 100 USD Fixed 8.500 114.50 116.00 2.00 BBB- /Baa2 /BBB
Republic Of South Africa US836205AM61 27-May-19 2000 100/1 100 USD Fixed 6.875 114.63 116.13 2.99 BBB- /Baa2 /BBB
Republic Of South Africa US836205AN45 09-Mar-20 2000 100/1 100 USD Fixed 5.500 109.50 111.00 3.21 BBB- /Baa2 /BBB
Zar Sov Capital Fund (S) XS1113141441 24-Jun-20 500 200/1 100 USD Fixed 3.903 100.75 102.25 3.45 BBB- /Baa2 /BBB
Republic Of South Africa US836205AL88 30-May-22 1000 100/1 100 USD Fixed 5.875 113.00 114.50 3.64 BBB- /Baa2 /BBB
Republic Of South Africa US836205AQ75 17-Jan-24 1500 100/1 100 USD Fixed 4.665 104.38 105.88 3.89 BBB- /Baa2 /BBB
Republic Of South Africa US836205AR58 16-Sep-25 2000 200/1 100 USD Fixed 5.875 112.50 115.50 4.08 BBB- /Baa2 /BBB
Republic Of South Africa XS1090107159 24-Jul-26 500 100/1 100 EUR Fixed 3.750 105.75 108.75 2.85 BBB- /(P)Baa2 /BBB
Republic Of South Africa US836205AP92 08-Mar-41 750 100/1 100 USD Fixed 6.250 117.38 120.38 4.87 BBB- /Baa2 /BBB
Republic Of South Africa US836205AS32 24-Jul-44 1000 200/1 100 USD Fixed 5.375 104.38 107.38 4.90 BBB- /(P)Baa2 /BBB
Republic Of Sri Lanka USY2029SAE47 22-Jan-15 500 100/1 100 USD Fixed 7.400 99.63 101.13 -1.98 B+ /- /BB-
Republic Of Sri Lanka USY8137FAA67 14-Jan-19 1000 200/1 100 USD Fixed 6.000 105.38 106.88 4.16 B+ /B1 /BB-
Republic Of Sri Lanka USY8137FAB41 11-Apr-19 500 200/1 100 USD Fixed 5.125 102.13 103.63 4.20 B+ /B1 /BB-
Republic Of Sri Lanka USY2029SAF12 04-Oct-20 1000 100/1 100 USD Fixed 6.250 106.00 108.00 4.66 B+ /B1 /BB-
Republic Of Sri Lanka USY2029SAG94 27-Jul-21 1000 200/1 100 USD Fixed 6.250 104.88 107.88 4.85 B+ /B1 /BB-
Republic Of Sri Lanka USY2029SAH77 25-Jul-22 1000 200/1 100 USD Fixed 5.875 102.00 105.00 5.08 B+ /B1 /BB-
Republic of Turkey Hazine M. (S) XS0975124180 10-Oct-18 1250 200/1 100 USD Fixed 4.557 105.38 106.38 2.79 - /Baa3 /BBB-
Republic Of Turkey US900123AX87 05-Jun-20 2000 2/1 100 USD Fixed 7.000 117.00 118.50 3.29 NR /Baa3 /BBB-
Republic Of Turkey XS0503454166 18-May-20 2000 50/1 100 EUR Fixed 5.125 113.38 114.88 2.19 NR /Baa3 /BBB-
Republic Of Turkey US900123CA66 23-Mar-23 1500 200/1 100 USD Fixed 3.250 94.88 96.38 3.76 - /Baa3 /BBB-
Republic Of Turkey XS1057340009 11-Apr-23 1000 100/1 100 EUR Fixed 4.125 108.88 110.38 2.72 - /Baa3 /BBB-
Republic Of Turkey US900123CF53 22-Mar-24 2500 200/1 100 USD Fixed 5.750 112.25 113.75 3.96 - /Baa3 /BBB-
Hazine Mustesarligi Varl (S) XS1141043296 25-Nov-24 1000 200/1 100 USD Fixed 4.489 101.63 103.13 4.10 - /(P)Baa3 /BBB-
Republic Of Turkey US900123BG46 30-May-40 2000 100/1 100 USD Fixed 6.750 123.38 126.38 4.92 NR /Baa3 /BBB-
Republic Of Turkey US900123CB40 16-Apr-43 1500 200/1 100 USD Fixed 4.875 98.88 101.88 4.75 - /Baa3 /BBB-
Republic Of Turkey (S) XS0831353361 26-Mar-18 1500 200/1 100 USD Fixed 2.803 99.25 100.75 2.56 NR /Baa3 /BBB-
Page 5
Page 6
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Republic Of Venezuela US922646AT10 15-Aug-18 753 1/1 100 USD Fixed 13.625 69.88 76.88 23.27 CCC+ /Caa1 /B
Republic of Vietnam (Socialist) USY9384RAA87 19-Nov-24 1000 200/1 100 USD Fixed 4.800 100.88 102.88 4.44 BB- /B1 /-
Republic Of Zambia XS0828779594 20-Sep-22 750 200/1 100 USD Fixed 5.375 93.63 96.13 6.00 B+ /- /B
Republic Of Zambia XS1056386714 14-Apr-24 1000 200/1 100 USD Fixed 8.500 111.25 113.75 6.51 B+ /- /B
Sharjah Sukuk Ltd (S) XS1106137687 17-Sep-24 750 200/1 100 USD Fixed 3.764 103.38 104.88 3.18 A /A3 /-
State Of Qatar XS0615235537 20-Jan-17 2000 200/1 100 USD Fixed 3.125 104.00 105.00 0.74 AA /Aa2 /-
State Of Qatar XS0423038875 09-Apr-19 1000 100/1 100 USD Fixed 6.550 118.25 119.75 1.79 AA /Aa2 /-
State Of Qatar XS0468534580 20-Jan-20 2500 100/1 100 USD Fixed 5.250 112.75 114.25 2.28 AA /Aa2 /-
State Of Qatar XS0615236006 20-Jan-22 2000 200/1 100 USD Fixed 4.500 109.38 110.88 2.80 AA /Aa2 /-
State Of Qatar XS0113419690 15-Jun-30 1400 10/1 100 USD Fixed 9.750 161.50 164.00 4.13 AA /Aa2 /-
State Of Qatar XS0468535637 20-Jan-40 1000 100/1 100 USD Fixed 6.400 126.00 129.00 4.47 AA /Aa2 /-
State Of Qatar XS0615236188 20-Jan-42 1000 200/1 100 USD Fixed 5.750 117.63 120.63 4.43 AA /Aa2 /-
State Of Qatar (S) XS0801656256 18-Jan-18 2000 200/1 100 USD Fixed 2.099 101.13 102.13 1.40 AA /Aa2 /-
State Of Qatar (S) XS0801656330 18-Jan-23 2000 200/1 100 USD Fixed 3.241 100.75 102.25 2.93 AA /Aa2 /-
Tunisia US066716AG65 16-Jul-19 485 200/1 100 USD Fixed 1.686 98.00 100.00 1.69 Not Rated
Tunisia (Banque Centrale de.) XS0222293382 22-Jun-20 400 50/1 100 EUR Fixed 4.500 102.88 104.88 3.51 NR /Ba3 /WD
Tunisia (Banque Centrale de.) US066716AB78 19-Sep-27 150 1/1 100 USD Fixed 8.250 115.75 117.75 6.21 NR /Ba3 /WD
United Rep Of Tanzania XS0896119897 09-Mar-20 600 200/1 100 USD FRN 6.329 105.75 108.25 4.57 Not Rated
Aabar Investments Pjsc (C) XS0632138961 27-May-16 1250 100/100 100 EUR Fixed 4.000 116.75 119.75 -8.35 Not Rated
Dubai Holding Comm Op XS0285303748 01-Feb-17 500 50/50 100 GBP Fixed 6.000 101.63 103.13 4.43 NR /WR /WD
IPIC XS0860583672 30-Nov-15 750 200/1 100 USD Fixed 1.750 100.38 101.38 0.34 AA /Aa2 /AA
IPIC XS0558268628 15-Nov-15 1000 250/1 100 USD Fixed 3.125 101.63 102.63 0.31 AA /Aa2 /AA
IPIC XS0605558856 14-May-16 1250 100/1 100 EUR Fixed 4.875 105.63 106.63 0.23 AA /Aa2 /AA
IPIC XS0701035320 01-Mar-17 1500 200/1 100 USD Fixed 3.750 105.00 106.00 1.02 AA /Aa2 /AA
IPIC XS0860583912 30-May-18 800 100/1 100 EUR Fixed 2.375 105.13 106.13 0.59 AA /Aa2 /AA
IPIC XS0558268891 15-Nov-20 1500 250/1 100 USD Fixed 5.000 111.88 112.88 2.64 AA /Aa2 /AA
IPIC XS0605559821 14-Mar-21 1250 100/1 100 EUR Fixed 5.875 127.13 128.63 1.12 AA /Aa2 /AA
IPIC XS0701035676 01-Mar-22 1500 200/1 100 USD Fixed 5.500 115.50 116.50 2.95 AA /Aa2 /AA
IPIC XS0860584308 30-May-23 850 100/1 100 EUR Fixed 3.625 114.88 115.88 1.61 AA /Aa2 /AA
IPIC XS0701227075 01-Nov-41 750 200/1 100 USD Fixed 6.875 134.88 136.88 4.50 AA /Aa2 /AA
Kuwait Projects Co XS0457137841 17-Oct-16 500 100/1 100 USD Fixed 8.875 111.38 112.88 1.80 BBB- /Baa3 /-
Kuwait Projects Co XS1026105806 05-Feb-19 500 200/1 100 USD Fixed 4.800 105.25 106.75 3.06 BBB- /Baa3 /-
Kuwait Projects Co XS0526235535 15-Jul-20 500 100/1 100 USD Fixed 9.375 124.75 127.75 3.83 BBB- /Baa3 /-
Diversified
Page 6
Page 7
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Mubadala XS0613313104 20-Apr-16 750 200/1 100 USD Fixed 3.750 103.50 104.50 0.44 AA /Aa2 /AA
Mubadala XS0426993571 06-May-19 500 250/1 100 USD Fixed 7.625 123.75 124.75 1.77 AA /Aa2 /AA
Mubadala XS0619200990 20-Apr-21 750 200/1 100 USD Fixed 5.500 116.13 117.13 2.57 AA /Aa2 /AA
Mubadala XS1062852253 28-Apr-22 750 200/1 100 USD Fixed 3.250 102.00 103.00 2.80 AA /Aa2 /AA
Mumtalakat XS0521476118 30-Jun-15 750 100/1 100 USD Fixed 5.000 101.25 102.75 0.10 BBB /- /BBB
Yasar Holdings XS1132450427 06-May-20 250 200/1 100 USD Fixed 8.875 106.75 109.25 6.63 - /B2 /B
Abu Dhabi Comm. Bk. (S) XS0708308845 22-Nov-16 500 200/1 100 USD Fixed 4.071 105.00 106.00 0.97 A /A1u /A+
Abu Dhabi Comm. Bk. XS0897453907 06-Mar-18 750 200/1 100 USD Fixed 2.500 100.00 101.50 2.02 A /A1u /A+
Abu Dhabi Comm. Bk. XS1040257062 04-Mar-19 750 200/1 100 USD Fixed 3.000 101.00 102.50 2.38 A /NR /A+
Abu Dhabi Comm. Bk. XS1110651012 16-Sep-19 600 200/1 100 USD Fixed 2.750 99.75 101.25 2.47 A /NR /A+
Abu Dhabi Comm. Bk. XS0897453493 06-Mar-23 750 200/1 100 USD Fixed 4.500 102.25 103.75 3.96 A- /NR /A
Abu Dhabi Comm. Bk. AU3CB0221414 28-May-19 250 10/10 100 AUD Fixed 4.750 100.88 102.38 4.16 A /- /A+
Abu Dhabi Islm. Bank (S) XS0556042405 04-Nov-15 750 100/1 100 USD Fixed 3.745 101.63 103.13 0.28 - /A2 /A+
Abu Dhabi Islm. Bank (S) XS0711035286 30-Nov-16 500 200/1 100 USD Fixed 3.780 103.88 105.38 1.03 - /A2 /A+
Access Bank Plc XS0807677496 25-Jul-17 350 200/1 100 USD Fixed 7.250 97.63 99.63 7.40 BB- /- /B
Access Bank Plc XS1078208334 24-Jun-21 400 200/1 100 USD Variable 9.250 95.88 97.88 9.84 B /- /B-
ADIB Tier 1 (S) XS0851081660 Perpetual 1000 200/1 100 USD Variable 6.375 104.00 105.50 4.79 Not Rated
African Bank Limited XS0638008051 15-Jun-16 350 200/1 100 USD Flat Trading 6.000 58.00 78.00 27.03 - /Caa2 /-
African Bank Limited XS0751016865 24-Feb-17 350 200/1 100 USD Flat Trading 8.125 59.00 79.00 21.99 - /Caa2 /-
African Export-Import Ba XS0650262875 27-Jul-16 500 200/1 100 USD Fixed 5.750 103.25 105.25 2.45 NR /Baa2 /BBB-
African Export-Import Ba XS0938043766 04-Jun-18 500 200/1 100 USD Fixed 3.875 98.00 100.00 3.87 NR /Baa2 /BBB-
African Export-Import Ba XS1091688660 29-Jul-19 500 200/1 100 USD Fixed 4.750 98.88 100.88 4.54 - /Baa2 /BBB-
AK Lease XS0914394688 17-Apr-18 250 200/1 100 USD Fixed 4.125 99.63 101.63 3.60 - /- /BBB-
Akbank USM0300LAA46 22-Jul-15 1000 100/1 100 USD Fixed 5.125 100.88 102.88 0.46 - /Baa3 /BBB-
Akbank USM0300LAC02 09-Mar-18 500 150/1 100 USD Fixed 6.500 108.13 111.13 2.89 - /Baa3 /BBB-
Akbank USM0375YAK49 24-Oct-22 500 150/1 100 USD Fixed 5.000 101.00 104.00 4.39 - /Baa3 /BBB-
Akbank USM0375YAJ75 24-Oct-17 500 150/1 100 USD Fixed 3.875 100.88 102.88 2.82 - /Baa3 /BBB-
Albaraka Turk Katilim Ba (S) XS1082151868 30-Jun-19 350 200/1 100 USD Fixed 6.250 101.38 103.38 5.40 BB /- /-
Albaraka Turk Katilim (S) XS0927211754 07-May-23 200 200/1 100 USD Fixed 7.750 98.10 100.1 7.71 B /- /-
Al Hilal Bank (S) XS0977488294 08-Oct-18 500 200/1 100 USD Fixed 3.267 102.25 104.25 2.11 - /A1 /A+
Al Hilal Bank Tier 1 (S) XS1073217561 Perpetual 500 200/1 100 USD Variable 5.500 100.25 102.25 4.94 Not Rated
Alternatifbank As XS1089556358 22-Jul-19 250 200/1 100 USD Fixed 3.125 98.88 100.88 2.92 - /- /A
Financial Institutions
Page 7
Page 8
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Axis Bank/Dubai XS0463466028 30-Sep-15 350 100/1 100 USD Fixed 5.250 101.38 103.38 1.05 BBB- /Baa2 /BBB-
Axis Bank/Dubai US05463EAA64 02-May-16 500 100/1 100 USD Fixed 4.750 102.25 104.25 1.66 BBB- /Baa2 /BBB-
Axis Bank/Dubai US05463EAB48 05-Sep-17 750 200/1 100 USD Fixed 5.125 105.75 107.25 2.37 BBB- /Baa2 /BBB-
Banco Daycoval Sa XS1046809171 19-Mar-19 500 150/1 100 USD Fixed 5.750 100.13 102.13 5.19 BB+ /Baa3 /BBB-
Bank Asya Tier 2 (S) XS0907295942 28-Mar-23 250 200/1 100 USD Variable 7.500 56.75 63.75 23.97 - /Ca /-
Bank Muscat Saog XS0908549685 26-Mar-18 500 200/1 100 USD Fixed 2.500 99.75 101.75 1.95 A- /A1 /A-
Bank of Bahrain & Kuwait XS0553706135 28-Oct-15 500 100/1 100 USD Fixed 4.500 101.63 103.13 0.95 - /Baa2 /BBB
Bank Of Baroda/London XS0483734298 07-Oct-15 350 100/1 100 USD Fixed 4.750 101.50 103.00 1.11 - /Baa3 /BBB-
Bank Of Baroda/London XS0594008517 24-Aug-16 500 200/1 100 USD Fixed 5.000 103.88 105.38 1.79 - /Baa3 /BBB-
Bank Of Baroda/London USY04342AA28 23-Jul-19 1000 200/1 100 USD Fixed 4.875 106.25 107.75 3.06 - /Baa3 /BBB-
Bank Of Baroda/London XS0301888615 25-May-22 300 100/1 100 USD Variable 6.625 102.50 105.00 4.46 NR /Ba2 /B+
Bank Of Ceylon USY0646EAR37 03-May-17 500 200/1 100 USD Fixed 6.875 104.63 107.13 3.74 - /B1 /BB-
Bank Of Ceylon XS0914798268 16-Apr-18 500 200/1 100 USD Fixed 5.325 100.63 103.13 4.31 - /- /BB-
Bank Of China US06120TAA60 13-Nov-24 3000 200/1 100 USD Fixed 5.000 101.75 103.25 4.59 BBB+ /Baa3e /BBB+
Bank Of China XS1122780106 Perpetual 39940 2000/10 100 CNY Variable 6.750 101.88 103.88 5.81 BB- /Ba2 /-
Bank Of India London XS0498932721 30-Sep-15 750 100/1 100 USD Fixed 4.750 101.50 103.00 1.02 BBB- /Baa3 /-
Bank Of India London USY06865AA04 21-Sep-18 500 200/1 100 USD Fixed 3.625 100.88 103.38 2.68 BBB- /Baa3 /-
Bank Of India London XS0592238876 16-Feb-21 500 200/1 100 USD Fixed 6.250 111.50 113.50 3.78 BBB- /Baa3 /-
Bank Saudi Fransi (S) XS0784910431 22-May-17 750 200/1 100 USD Fixed 2.947 101.75 103.75 1.39 A /- /A
Bawag P.S.K. XS0987169637 30-Oct-23 300 100/100 100 EUR Fixed 8.125 120.00 121.00 5.12 - /Ba2 /-
Banque Marocaine Du Comm XS0998123037 27-Nov-18 300 200/1 100 USD Fixed 6.250 104.13 105.13 4.81 - /Ba1 /-
Burgan Bank XS0545106592 29-Sep-20 400 100/1 100 USD Fixed 7.875 117.13 119.13 4.13 BBB /Ba1 /-
Burgan Tier 1 Financing XS1106874198 Perpetual 500 200/1 100 USD Variable 7.250 99.13 101.13 6.97 Not Rated
Canara Bank London XS0595649608 09-Sep-16 350 200/1 100 USD Fixed 5.125 102.63 105.63 1.84 - /Baa3 /BBB-
Cbq Finance Ltd XS1079720212 24-Jun-19 750 200/1 100 USD Fixed 2.875 101.13 102.13 2.38 A- /A1 /-
Charming Light Investmen XS1104029027 03-Sep-19 600 200/1 100 USD Fixed 3.750 98.25 100.25 3.69 - /Baa1 /A-
Citic Securities Fin Mtn XS1130968453 30-Oct-19 650 200/1 100 USD Fixed 3.500 98.88 100.38 3.41 BBB+ /(P)Baa1 /-
Commercial Bank Of Dubai XS0933999863 21-May-18 500 200/1 100 USD Fixed 3.375 101.50 103.00 2.46 - /Baa1 /A-
Commercial Bank of Qatar XS0771860003 11-Apr-17 500 200/1 100 USD Fixed 3.375 103.00 105.00 1.20 A- /A1 /-
Commercial Bank of Qatar XS0466365383 18-Nov-19 600 100/1 100 USD Fixed 7.500 119.50 121.50 2.81 BBB+ /Baa1 /-
Credit Bank of Moscow XS0924078453 13-Nov-18 500 200/1 100 USD Fixed 8.700 78.25 81.25 15.20 - /NR /BB-
Credit Bank of Moscow XS0879105558 01-Feb-18 500 200/1 100 USD Fixed 7.700 89.25 92.25 10.65 BB- /B1 /BB
Dib Tier 1 Sukuk Ltd (S) XS0902330769 Perpetual 1000 200/1 100 USD Variable 6.250 102.38 104.38 5.10 Not Rated
Diamond Bank Plc XS1069387923 21-May-19 200 200/1 100 USD Fixed 8.750 93.63 96.13 9.84 B /- /B
Page 8
Page 9
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Doha Bank XS0757032445 14-Mar-17 500 200/1 100 USD Fixed 3.500 103.25 104.75 1.36 A- /A2 /A
Dubai Islamic Bank (S) XS0787130540 30-May-17 500 200/1 100 USD Fixed 4.752 105.50 107.50 1.65 - /Baa1 /A
Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 101.13 103.13 5.49 - /Ba1 /BB
Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 101.13 103.13 5.49 - /Ba1 /BB
Ebn Finance Co Bv XS1093771639 14-Aug-21 250 200/1 100 USD Variable 8.750 99.75 101.75 8.29 B- /- /-
Emirates Bank XS0272489187 31-Oct-16 83 100/1 100 USD FRN 1.433 93.75 98.75 2.10 NR /Baa3 /A
Emirates Bank XS0765257141 28-Mar-17 1000 200/1 100 USD Fixed 4.625 104.63 106.13 1.89 - /Baa1 /A+
Emirates Islamic Bank (S) XS0731642491 18-Jan-17 500 200/1 100 USD Fixed 4.718 104.75 106.25 1.69 - /Baa1 /A+
Emirates Islamic Bank (S) XS0803231827 11-Jan-18 500 200/1 100 USD Fixed 4.147 104.00 105.50 2.29 - /Baa1 /A+
Emirates Nbd Pjsc XS1138457590 19-Nov-19 1000 200/1 100 USD Fixed 3.250 99.25 100.75 3.09 - /Baa1 /A+
Emirates NBD XS0910935021 28-Mar-23 750 200/1 100 USD Variable 4.875 103.13 104.63 3.38 - /NR /A
Emirates NBD Tier 1 XS0935833292 Perpetual 1000 200/1 100 USD Variable 5.750 98.50 100.50 5.62 Not Rated
Emirates Nbd 2014 Tier 1 XS1111114135 Perpetual 500 200/1 100 USD Variable 6.375 102.00 104.00 5.55 Not Rated
Emirates Nbd Pjsc AU3CB0220861 08-May-19 400 10/10 100 AUD Fixed 5.750 103.88 105.88 4.27 - /Baa1 /A+
Export Credit Bank Of Tu XS1028943089 23-Sep-21 500 200/1 100 USD Fixed 5.000 102.75 104.75 4.19 BB+ /Baa3 /BBB-
Export-Import Bk India XS0813393849 07-Aug-17 500 200/1 100 USD Fixed 4.000 102.75 104.75 2.15 BBB- /Baa3 /-
Export-Import Bk India XS1050464996 02-Oct-19 500 200/1 100 USD Fixed 3.875 102.38 104.38 2.89 BBB- /Baa3 /-
Export-Import Bk India XS0872917660 14-Jan-23 750 200/1 100 USD Fixed 4.000 100.50 102.00 3.71 BBB- /Baa3 /-
First Bank of Nigeria XS0957590689 07-Aug-20 300 200/1 100 USD Variable 8.250 93.88 96.88 9.27 B /- /B-
First Bank of Nigeria XS1090370104 23-Jul-21 450 200/1 100 USD Variable 8.000 93.50 96.00 9.07 B /- /B-
Fidelity Bank Plc XS0928527257 09-May-18 300 200/1 100 USD Fixed 6.875 91.25 93.75 9.04 B /- /B
Finansbank As XS0849733273 01-Nov-17 350 200/1 100 USD Fixed 5.150 101.75 104.75 3.41 - /Ba2 /BBB-
Finansbank As USM4R36CAA80 11-May-16 500 200/1 100 USD Fixed 5.500 101.38 104.38 2.35 - /Ba2 /BBB-
Finansbank As XS1063442484 30-Apr-19 500 200/1 100 USD Fixed 6.250 104.63 107.63 4.32 - /Ba2 /BBB-
First Gulf Bank XS0840538994 09-Oct-17 650 200/1 100 USD Fixed 2.862 102.38 103.38 1.64 - /A2 /A+
First Gulf Bank (S) XS0654587996 02-Aug-16 650 200/1 100 USD Fixed 3.797 103.38 104.88 0.81 - /A2 /A+
First Gulf Bank (S) XS0731930797 18-Jan-17 500 200/1 100 USD Fixed 4.046 104.88 106.38 0.98 - /A2 /A+
Firstrand Bank Ltd XS0635404477 09-Jun-16 500 200/1 100 USD Fixed 4.375 102.50 104.00 1.67 BBB- /Baa2 /BBB
Gazprombk (Gpb Finance) XS0779213460 03-May-19 500 200/1 100 USD Fixed 7.250 88.25 91.25 9.74 BB+ /B1 /BB+
Gazprombk (Gpb Finance) XS1040726587 05-Sep-19 750 200/1 100 USD Fixed 4.960 84.13 87.13 8.29 BBB- /- /BBB-
Gazprom (Gaz Capital Sa) XS1038646078 26-Feb-21 750 100/1 100 EUR Fixed 3.600 87.38 90.38 5.46 BBB- /Baa1 /BBB
Gazprom (Gaz Capital Sa) XS0805570354 19-Jul-22 1000 200/1 100 USD Fixed 4.950 85.13 88.13 6.99 BBB- /Baa1 /BBB
Gazprombk (Gpb Finance) XS0848137708 Perpetual 1000 200/1 100 USD Variable 7.875 77.88 80.88 15.32 - /NR /-
GIC Funding Ltd XS0859236092 28-Nov-17 500 200/1 100 USD Fixed 3.250 102.13 103.63 1.99 - /A2 /-
Page 9
Page 10
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
GIC Funding Ltd CH0198380237 16-Nov-15 300 5/5 100 CHF Fixed 2.750 101.00 102.50 0.09 - /A2 /-
Guaranty Trust Bank XS0628652884 19-May-16 500 200/1 100 USD Fixed 7.500 102.25 104.25 4.43 BB- /- /B+
Guaranty Trust Bank XS0992162635 08-Nov-18 400 200/1 100 USD Fixed 6.000 96.25 98.25 6.51 BB- /- /B+
Gulf International Bank XS0863496633 11-Dec-17 500 200/1 100 USD Fixed 2.375 99.50 101.50 1.86 BBB+ /A3 /A
Haitong Intl Fin 2014 XS1107172535 11-Sep-19 600 200/1 100 USD Fixed 3.990 99.38 101.38 3.67 BBB /- /-
Hdfc Bank Ltd/Bah XS0897434949 06-Mar-18 500 200/1 100 USD Fixed 3.000 99.75 101.75 2.44 BBB- /Baa2 /-
Huarong Finance Co Ltd XS1086081707 17-Jul-17 300 200/1 100 USD Fixed 3.000 99.50 101.00 2.60 BBB+ /Baa1 /A
Huarong Finance Co Ltd XS1088292815 17-Jul-19 1200 200/1 100 USD Fixed 4.000 100.13 101.63 3.61 BBB+ /Baa1 /A
Icd Sukuk Co Ltd (S) XS1069869839 21-May-20 700 200/1 100 USD Fixed 3.508 98.13 100.13 3.48 Not Rated
Icd Funding Ltd XS1069870415 21-May-24 300 200/1 100 USD Fixed 4.625 99.88 101.88 4.38 Not Rated
Icici Bank Ltd/Dubai US45112FAC05 21-Feb-18 1000 200/1 100 USD Fixed 4.700 105.13 106.63 2.53 BBB- /Baa2 /BBB-
Icici Bank Ltd/Dubai US45112FAE60 22-May-19 1000 200/1 100 USD Fixed 4.800 106.25 107.75 2.93 BBB- /Baa2 /BBB-
Icici Bank Ltd/Dubai US45112FAG19 18-Mar-20 500 200/1 100 USD Fixed 3.500 100.50 102.00 3.09 BBB- /Baa2 /BBB-
IDBI Bank XS0832492267 26-Mar-18 500 200/1 100 USD Fixed 4.375 101.88 103.38 3.28 BB+ /Baa3 /BBB-
IDBI Bank XS0908349912 25-Jan-19 500 200/1 100 USD Fixed 3.750 99.25 100.75 3.55 BB+ /Baa3 /BBB-
IDBI Bank XS1048474396 25-Sep-19 300 200/1 100 USD Fixed 5.000 104.00 105.50 3.74 BB+ /Baa3 /BBB-
IDBI Bank XS1128264758 23-Apr-20 350 200/1 100 USD Fixed 4.125 99.75 101.25 3.86 BB+ /Baa3e /BBB-
Indian Overseas Bank/Hk XS0615783239 19-Oct-16 500 200/1 100 USD Fixed 5.000 103.88 104.88 2.31 BB+ /(P)Baa3 /-
Indian Overseas Bank/Hk XS0773015853 21-Feb-18 500 200/1 100 USD Fixed 4.625 103.00 104.50 3.14 BB+ /Baa3 /-
Int. Bank of Azerbaijan XS1076436218 11-Jun-19 500 200/1 100 USD Fixed 5.625 95.63 97.63 6.24 - /Ba3 /BB
Investcorp Sa XS0847495248 01-Nov-17 250 200/1 100 USD Fixed 8.250 107.25 109.75 4.61 - /Ba2 /BB
Investec Bank Ltd XS0807715098 24-Jul-17 300 200/1 100 USD Fixed 3.875 100.13 102.13 3.02 - /Baa2 /BBB-
Itau Unibanco Hldg Sa/Ky US46556MAB81 22-Jan-21 1250 100/1 100 USD Fixed 5.750 104.50 106.00 4.61 - /Baa3 /BBB
Korea Exchange Bank XS1120608713 14-Oct-24 300 200/1 100 USD Fixed 4.250 101.63 103.63 3.80 BBB /Baa2 /BBB
Kuveyt Turk (S) XS0698260758 31-Oct-16 350 200/1 100 USD Fixed 5.875 104.75 106.25 2.48 - /- /BBB
Kuveyt Turk (S) XS1079236169 26-Jun-19 500 200/1 100 USD Fixed 5.162 104.38 105.88 3.74 - /- /BBB
Mashreqbank XS0283928264 24-Jan-17 354 100/100 100 USD FRN 1.359 94.25 98.25 2.19 BBB /Ba2 /A-
Mubadala Ge Capital Ltd US62476BAA89 10-Nov-19 500 200/1 100 USD Fixed 3.000 98.75 100.75 2.84 - /Baa2e /A
National Bank of Egypt XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 97.88 102.88 0.85 - /Caa1 /B-
National Bk Of Abu Dhabi XS0497249341 25-Mar-15 750 100/1 100 USD Fixed 4.250 100.00 101.50 -0.78 AA- /Aa3 /AA-
National Bk Of Abu Dhabi XS0763531406 27-Mar-17 750 200/1 100 USD Fixed 3.250 103.88 104.88 1.10 AA- /Aa3 /AA-
National Bk Of Abu Dhabi AU3CB0206068 07-Mar-18 300 10/10 100 AUD Fixed 5.000 103.00 104.00 3.68 AA- /Aa3 /AA-
National Bk Of Abu Dhabi AU3CB0219392 19-Mar-19 400 10/10 100 AUD Fixed 4.750 102.50 103.50 3.85 AA- /Aa3 /AA-
National Bk Of Abu Dhabi XS0815939656 13-Aug-19 750 200/1 100 USD Fixed 3.000 102.50 103.50 2.21 AA- /Aa3 /AA-
Page 10
Page 11
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
National Savings Bank USY62526AA99 18-Sep-18 750 200/1 100 USD Fixed 8.875 112.25 114.25 4.71 B+ /- /BB-
Nile Finance Ltd XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 100.75 102.75 1.05 - /Caa1 /B-
Qatar Islamic Bank (S) XS0545395765 07-Oct-15 750 100/1 100 USD Fixed 3.856 102.25 103.25 -0.06 - /- /A
Qatar Islamic Bank (S) XS0841096497 10-Oct-17 750 200/1 100 USD Fixed 2.500 100.88 102.38 1.64 - /- /A
Qatar National Bank XS0559355135 16-Nov-15 1500 200/1 100 USD Fixed 3.125 101.63 102.63 0.32 A+ /Aa3 /A+
Qatar National Bank XS0748305017 22-Feb-17 1000 200/1 100 USD Fixed 3.375 103.00 104.50 1.30 A+ /Aa3 /A+
Qatar National Bank XS0854469599 14-Feb-18 1000 200/1 100 USD Fixed 2.125 99.13 100.63 1.92 A+ /Aa3 /A+
QIIB Sukuk Funding Ltd (S) XS0843912808 18-Oct-17 700 200/1 100 USD Fixed 2.688 101.75 102.75 1.70 - /A3 /A
Rakfunding Cayman Ltd XS1078355986 24-Jun-19 500 200/1 100 USD Fixed 3.250 100.88 102.38 2.69 - /Baa1 /BBB+
Russian Agricultural Bank XS0796426228 27-Dec-17 1300 200/1 100 USD Fixed 5.298 91.00 93.00 7.92 - /Ba1 /BBB-
Saudi British Bank XS0559277743 12-Nov-15 600 100/100 100 USD Fixed 3.000 101.75 102.75 0.04 A /- /A
Sberbank (Sb Cap Sa) XS0799357354 28-Jun-19 1000 200/1 100 USD Fixed 5.180 91.63 93.63 6.83 - /Baa2 /BBB
Sberbank (Sb Cap Sa) XS0897427570 04-Mar-18 550 300/1 100 TRY Fixed 7.400 83.38 85.38 13.07 - /Baa2 /BBB
Sberbank (Sb Cap Sa) XS0848530977 29-Oct-22 2000 200/1 100 USD Fixed 5.125 76.13 78.13 9.06 - /Ba1 /BBB-
Sberbank (Sb Cap Sa) XS0935311240 23-May-23 1000 200/1 100 USD Fixed 5.250 75.75 77.75 9.07 - /- /BBB-
Sberbank (Sb Cap Sa) XS1032750165 26-Feb-24 1000 200/1 100 USD Variable 5.500 77.75 79.75 11.72 - /- /BBB-
SIB Sukuk Co. Ltd (S) XS0625554836 25-May-16 400 200/1 100 USD Fixed 4.715 104.63 105.63 0.84 BBB+ /- /BBB+
SIB Sukuk Co. Ltd (S) XS0916902769 16-Apr-18 500 200/1 100 USD Fixed 2.950 101.75 102.75 2.10 BBB+ /- /BBB+
State Bank India/London USU85528AB04 01-Aug-17 1250 200/1 100 USD Fixed 4.125 103.38 104.88 2.21 BBB- /Baa3 /BBB-
State Bank India/London USY81636AC94 18-Apr-18 1000 200/1 100 USD Fixed 3.250 100.88 102.38 2.51 BBB- /Baa3 /BBB-
State Bank India/London USY81647AA02 17-Apr-19 750 200/1 100 USD Fixed 3.622 101.50 103.00 2.88 BBB- /Baa3 /BBB-
State Bank India/London USY81647AB84 17-Apr-24 500 200/1 100 USD Fixed 4.875 105.50 107.00 3.97 BBB- /Baa3 /BBB-
State Bank Of India XS0287244627 Perpetual 400 100/1 100 USD Variable 6.439 98.63 101.63 5.71 BB /B1 /B
State Bank Of India XS0307996586 Perpetual 225 100/1 100 USD Variable 7.140 100.38 103.38 5.70 BB /B1 /-
Syndicate Bank/London XS0620328392 06-Nov-16 500 200/1 100 USD Fixed 4.750 102.00 105.00 2.07 BBB- /Baa3 /-
Syndicate Bank XS0841358103 12-Apr-18 500 200/1 100 USD Fixed 4.125 101.63 103.13 3.13 BBB- /Baa3 /-
Tamweel (S) XS0734046815 18-Jan-17 300 200/1 100 USD Fixed 5.154 105.13 107.13 1.70 - /Baa1 /A
Tc Ziraat Bankasi As XS1083936028 03-Jul-19 750 200/1 100 USD Fixed 4.250 99.75 101.75 3.83 - /Baa3 /BBB-
Turkiye Finans Varlik Kiralama (S) XS0922143382 02-May-18 500 200/1 100 USD Fixed 3.950 99.88 101.88 3.36 - /- /BBB
Turkiye Finans Varlik Kiralama (S) XS1057852912 24-Apr-19 500 200/1 100 USD Fixed 5.375 104.25 106.25 3.81 - /- /BBB
Turkiye Garanti Bankasi USM8931TAE93 13-Sep-17 600 200/1 100 USD Fixed 4.000 101.38 103.38 2.72 - /Baa3 /BBB-
Turkiye Garanti Bankasi XS1057541838 17-Oct-19 750 200/1 100 USD Fixed 4.750 102.75 104.75 3.67 - /Baa3 /BBB-
Turkiye Garanti Bankasi USM8931TAF68 13-Sep-22 750 200/1 100 USD Fixed 5.250 103.75 105.75 4.37 - /Baa3 /BBB-
Turkiye Garanti Bankasi XS0935802495 23-May-18 175 200/1 100 AUD Fixed 5.500 98.75 100.75 5.25 - /Baa3 /BBB-
Page 11
Page 12
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Turkiye Halk Bankasi XS0806482948 19-Jul-17 750 200/1 100 USD Fixed 4.875 102.88 104.88 2.92 - /Baa3 /BBB-
Turkiye Halk Bankasi As XS1069383856 04-Jun-19 500 200/1 100 USD Fixed 4.750 101.63 103.63 3.86 - /Baa3 /BBB-
Turkiye Halk Bankasi XS0882347072 05-Feb-20 750 200/1 100 USD Fixed 3.875 97.25 99.25 4.04 - /Baa3 /BBB-
Turkiye Is Bankasi A.S XS0852697712 07-Nov-17 500 200/1 100 USD Fixed 3.875 100.25 102.75 2.88 - /Baa3 /BBB-
Turkiye Is Bankasi A.S XS0982644774 21-Apr-19 500 200/1 100 USD Fixed 5.500 104.75 107.25 3.69 - /Baa3 /BBB-
Turkiye Is Bankasi A.S XS1079527211 25-Jun-21 750 200/1 100 USD Fixed 5.000 101.88 103.88 4.31 - /Baa3 /BBB-
Turkiye Is Bankasi A.S XS0847042024 24-Oct-22 1000 200/1 100 USD Fixed 6.000 101.13 103.63 5.43 - /Ba2 /BB+
Turkiye Sinai Kalkinma B XS1117601796 30-Oct-19 350 200/1 100 USD Fixed 5.375 103.13 105.13 4.20 - /Baa3 /BBB-
Turkiye Vakiflar Bankasi XS0916347759 15-Apr-18 600 200/1 100 USD Fixed 3.750 99.00 101.00 3.43 - /Baa3 /BBB-
Turkiye Vakiflar Bankasi XS0987355939 31-Oct-18 500 200/1 100 USD Fixed 5.000 102.88 104.88 3.64 - /Baa3 /BBB-
Turkiye Vakiflar Bankasi XS1077629225 17-Jun-19 500 100/1 100 EUR Fixed 3.500 101.25 103.25 2.72 - /Baa3 /BBB-
Turkiye Vakiflar Bankasi XS0849728190 01-Nov-22 900 200/1 100 USD Fixed 6.000 100.63 102.63 5.58 - /Ba2 /BB+
Union Bank Of India Hk XS0819566182 22-Aug-17 350 200/1 100 USD Fixed 4.625 103.63 105.13 2.65 BBB- /Baa3 /-
Union Bank Of India Hk XS0923436264 25-Oct-18 350 200/1 100 USD Fixed 3.625 100.75 102.25 3.01 BBB- /Baa3 /-
Union Bank Of India Hk XS1062051161 28-Oct-19 350 200/1 100 USD Fixed 4.500 103.13 104.63 3.46 BBB- /Baa3 /-
Vnesheconombank(Veb) XS0524610812 09-Jul-20 1600 100/1 100 USD Fixed 6.902 93.13 96.13 7.77 BBB- /- /BBB
VTB Bank XS0842078536 17-Oct-22 1500 200/1 100 USD Fixed 6.950 78.25 81.25 10.51 BB+ /Ba2 /WD
VTB Bank XS0772509484 12-Apr-17 2000 200/1 100 USD Fixed 6.000 93.88 96.88 7.47 - /Baa3 /WD
Yapi Ve Kredi Bankasi As XS0994815016 03-Dec-18 500 200/1 100 USD Fixed 5.250 104.25 105.75 3.69 - /Baa3 /BBB
Yapi Ve Kredi Bankasi As XS1028938915 22-Oct-19 500 200/1 100 USD Fixed 5.125 103.38 104.88 4.01 - /Baa3 /BBB
Yapi Ve Kredi Bankasi XS0874840688 22-Jan-20 500 200/1 100 USD Fixed 4.000 98.50 100.00 4.00 - /Baa3 /BBB
Yapi Ve Kredi Bankasi XS0861979440 06-Dec-22 1000 200/1 100 USD Fixed 5.500 97.75 99.25 5.62 - /Ba2 /BBB-
Zenith Bank Plc XS1057929645 22-Apr-19 500 200/1 100 USD Fixed 6.250 94.75 96.75 7.13 BB- /- /B+
Aldar Sukuk (S) XS0993959583 03-Dec-18 750 200/1 100 USD Fixed 4.348 104.25 105.75 2.81 BB+ /Baa3 /-
China Os Grand Ocean Fin XS0996662853 23-Jan-19 400 200/1 100 USD Fixed 5.125 102.38 103.88 4.09 BBB- /Baa2 /BBB
Coca-Cola Icecek Uretim XS0975576165 01-Oct-18 500 200/1 100 USD Fixed 4.750 106.00 107.50 2.67 - /Baa3 /BBB
Country Garden Hldg Co USG24524AH67 04-Apr-21 750 200/1 100 USD Fixed 7.250 97.38 98.88 7.47 BB+ /Ba2 /-
Country Garden Hldg Co USG24524AG84 10-Jan-23 750 200/1 100 USD Fixed 7.500 97.13 98.63 7.73 BB+ /Ba2 /-
Damac (S) XS1054932154 09-Apr-19 650 200/1 100 USD Fixed 4.970 94.75 96.25 5.96 BB /- /-
Dar Al-Arkan Internation (S) XS0485326754 18-Feb-15 450 100/1 100 USD Fixed 10.750 100.00 102.00 0.44 B+ /WR /-
Dar Al-Arkan Sukuk Co Lt (S) XS0997146203 25-Nov-16 300 200/1 100 USD Fixed 5.750 99.13 101.13 5.14 B+ /- /-
Dar Al-Arkan Sukuk Co Lt (S) XS0937237831 24-May-18 450 200/1 100 USD Fixed 5.750 97.88 99.88 5.79 B+ /- /-
Dar Al-Arkan Sukuk Co Lt (S) XS1072498006 28-May-19 400 200/1 100 USD Fixed 6.500 100.13 102.13 5.95 B+ /- /-
Real Estate / Tourism
Page 12
Page 13
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Difc Sukuk (S) XS1120403313 12-Nov-24 700 200/1 100 USD Fixed 4.325 98.88 100.38 4.28 BBB- /- /-
Dip Sukuk Ltd (S) XS1035007530 20-Feb-19 300 200/1 100 USD Fixed 4.291 100.88 102.88 3.55 BB+ /- /-
Edcon Pty Ltd XS0596919026 01-Mar-18 250 150/1 100 USD Fixed 9.500 81.63 84.63 15.74 B- /B3 /-
Edcon Pty Ltd XS0888936118 01-Mar-18 300 100/1 100 EUR Fixed 9.500 82.50 85.50 15.34 B- /B3 /-
Edcon Pty Ltd XS0596918135 01-Mar-18 317 100/1 100 EUR Fixed 9.500 82.50 85.50 15.34 B- /B3 /-
Edcon Holdings Pty Ltd XS0982713173 30-Jun-19 425 100/1 100 EUR Fixed 13.375 45.25 50.25 36.55 CCC- /Caa2 /-
Emaar (S) XS0586840588 03-Aug-16 500 200/1 100 USD Fixed 8.500 110.63 112.63 0.79 BBB- /Ba1 /-
Emaar (S) XS0805885349 18-Jul-19 500 200/1 100 USD Fixed 6.400 113.13 115.13 2.87 BBB- /Ba1 /-
Emaar Mall Group Sukuk (S) XS1075401726 18-Jun-24 750 200/1 100 USD Fixed 4.564 103.00 104.50 3.99 BBB- /Baa2 /-
Franshion Brilliant Ltd XS1038803190 19-Mar-19 500 200/1 100 USD Fixed 5.750 102.50 104.50 4.58 BBB- /Ba1 /BBB-
Golden Eagle Retail Grou USG3958RAB53 21-May-23 400 200/1 100 USD Fixed 4.625 91.38 93.38 5.62 BBB- /Baa3 /BBB-
Greenland Glb Invst XS1122384685 17-Oct-17 500 200/1 100 USD Fixed 3.500 97.38 99.38 3.73 BBB /Baa3 /BBB-
Indiabulls - Century Ltd XS1118059200 12-Nov-19 175 200/1 100 USD Fixed 10.250 94.63 97.13 11.02 B+ /B1 /B+
Jafz Sukuk Ltd (S) XS0794821453 19-Jun-19 650 200/1 100 USD Fixed 7.000 114.88 116.88 2.99 - /Ba1 /BB-
King Power Capital Ltd XS1125289626 03-Nov-19 300 200/1 100 USD Fixed 3.875 100.13 102.13 3.40 BBB /Baa3 /-
King Power Capital Ltd XS1125272143 03-Nov-24 700 200/1 100 USD Fixed 5.625 102.25 104.25 5.07 BBB /Baa3 /-
Maf Global Securities XS0800825845 05-Jul-19 500 200/1 100 USD Fixed 5.250 107.88 109.88 2.93 BBB /- /BBB
Maf (S) XS0742399198 07-Feb-17 400 200/1 100 USD Fixed 5.850 107.13 109.13 1.54 BBB /- /BBB
Maf Global Securities XS1064799841 07-May-24 500 200/1 100 USD Fixed 4.750 102.63 104.13 4.21 BBB /- /BBB
Maf Global Securities XS0939678792 Perpetual 500 200/1 100 USD Variable 7.125 108.50 110.50 4.17 BB+ /- /BB+
Marfrig Holding Europe B USN54468AC22 20-Sep-21 51 200/1 100 USD Fixed 11.250 109.50 112.00 8.14 B+ /B2 /B+
Nakheel Sukuk (S) XS0624017371 25-Aug-16 4390 500/10 100 AED Fixed 10.000 109.75 111.75 2.93 Not Rated
Qatari Diar XS0527351570 21-Jul-15 1000 100/1 100 USD Fixed 3.500 100.75 102.25 -0.13 AA /Aa2 /-
Qatari Diar XS0527351653 21-Jul-20 2500 100/1 100 USD Fixed 5.000 111.25 112.75 2.55 AA /Aa2 /-
Shimao Ppty Hldng Ltd XS0872804207 14-Jan-20 800 200/1 100 USD Fixed 6.625 97.25 100.25 6.55 BB- /Ba3 /BB+
Shimao Ppty Hldng Ltd XS1013209017 22-Jan-21 600 200/1 100 USD Fixed 8.125 101.50 103.50 7.29 BB- /Ba3 /BB+
Sino Ocean Lnd Trs Fin I XS1089807025 30-Jul-19 500 200/1 100 USD Fixed 4.625 99.75 101.75 4.21 BBB- /Baa3 /BBB-
Sino Ocean Lnd Trs Fin I XS1090864528 30-Jul-24 700 200/1 100 USD Fixed 6.000 101.50 103.50 5.53 BBB- /Baa3 /BBB-
Sunac China Holdings Ltd XS0909370651 05-Apr-18 500 200/1 100 USD Fixed 9.375 102.38 103.88 8.02 B+ /B1 /BB-
Vrg Linhas Aereas Sa USP98079AB59 12-Feb-23 35 200/1 100 USD Fixed 10.750 104.00 106.00 9.44 B- /- /B-
Xinyuan Real Estate XS0998964935 06-Jun-19 200 200/1 100 USD Fixed 13.000 91.75 93.25 15.12 B- /- /B+
Page 13
Page 14
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Bahrain Telecom. XS0927183441 01-May-20 519 200/1 100 USD Fixed 4.250 100.00 101.50 3.94 BB+ /- /BBB-
Banglalink Digital Comm USY0629LAA53 06-May-19 300 200/1 100 USD Fixed 8.625 103.75 105.75 7.08 B+ /B1 /-
Bharti Airtel Internatio XS1028954953 20-May-21 750 100/1 100 EUR Fixed 3.375 105.25 106.75 2.24 BBB- /Baa3 /BBB-
Bharti Airtel USN1384FAA32 11-Mar-23 1500 200/1 100 USD Fixed 5.125 106.38 107.88 3.99 BBB- /Baa3 /BBB-
Bharti Airtel Internatio USN1384FAB15 20-May-24 1000 200/1 100 USD Fixed 5.350 107.88 109.38 4.14 BBB- /Baa3 /BBB-
Etisalat XS1077881743 18-Jun-19 500 200/1 100 USD Fixed 2.375 100.50 101.50 2.03 AA- /Aa3 /A+
Etisalat XS1077883012 18-Jun-24 500 200/1 100 USD Fixed 3.500 102.75 103.75 3.04 AA- /Aa3 /A+
Etisalat XS1077882121 18-Jun-21 1200 100/1 100 EUR Fixed 1.750 102.50 103.50 1.19 AA- /Aa3 /A+
Etisalat XS1077882394 18-Jun-26 1200 100/1 100 EUR Fixed 2.750 106.00 107.00 2.06 AA- /Aa3 /A+
Helios Towers Finance Nl XS1081230879 15-Jul-19 250 200/1 100 USD Fixed 8.375 92.00 94.50 9.89 B /- /B
Mtn Mauritius Invstments XS1128996425 11-Nov-24 750 200/1 100 USD Fixed 4.755 99.25 101.25 4.60 BBB /Baa2 /-
MTS International XS0921331509 30-May-23 500 200/1 100 USD Fixed 5.000 79.63 82.63 7.84 BBB- /Baa3 /BB+
Qatar Telecom XS0549116290 14-Oct-16 1000 200/1 100 USD Fixed 3.375 103.00 104.00 1.18 A- /A2 /A+
Qatar Telecom XS0432791571 10-Jun-19 600 100/1 100 USD Fixed 7.875 122.25 123.75 2.30 A- /A2 /A+
Qatar Telecom XS0549116530 16-Feb-21 1000 200/1 100 USD Fixed 4.750 107.63 109.63 3.03 A- /A2 /A+
Qatar Telecom XS0866438475 21-Feb-23 1000 200/1 100 USD Fixed 3.250 96.38 98.88 3.41 A- /A2 /A+
Qatar Telecom XS0551307100 19-Oct-25 750 200/1 100 USD Fixed 5.000 106.88 109.38 3.93 A- /A2 /A+
Qatar Telecom XS0880134258 31-Jan-28 500 200/1 100 USD Fixed 3.875 94.75 97.25 4.15 A- /A2 /A+
Qatar Telecom XS0881740384 31-Jan-43 500 200/1 100 USD Fixed 4.500 97.50 100.00 4.50 A- /A2 /A+
Naspers USN5946FAA59 28-Jul-17 700 100/1 100 USD Fixed 6.375 108.25 110.25 2.34 - /Baa3 /BB+
Naspers USN5946FAB33 18-Jul-20 1000 200/1 100 USD Fixed 6.000 108.63 110.63 3.87 - /Baa3 /BB+
Rolta LLC USU77587AA83 16-May-18 127 200/1 100 USD Fixed 10.750 98.50 101.00 10.39 BB- /- /BB-
Rolta Americas Llc USU77583AA79 24-Jul-19 373 200/1 100 USD Fixed 8.875 92.25 94.25 10.47 BB- /- /BB-
Telecom Italia Spa XS0195160329 24-Jun-19 850 50/50 100 GBP Fixed 6.375 108.38 109.88 3.95 BB+ /Ba1 /BBB-
Telemar Norte Leste Sa USP9037HAL70 23-Oct-20 1787 100/1 100 USD Fixed 5.500 96.63 98.63 5.78 BB+ /Ba1 /BB+
Turk Telekomunikasyon As XS1028952155 19-Jun-19 500 200/1 100 USD Fixed 3.750 100.38 102.38 3.18 BBB- /- /BBB-
Turk Telekomunikasyon As XS1028951264 19-Jun-24 500 200/1 100 USD Fixed 4.875 100.88 102.88 4.50 BBB- /- /BBB-
Oi Sa USP18445AG42 10-Feb-22 1500 200/1 100 USD Fixed 5.750 94.38 96.38 6.39 BB+ /Ba2 /BB+
Vimpelcom Holdings XS0889401054 13-Feb-19 600 200/1 100 USD Fixed 5.200 85.00 88.00 8.68 BB /Ba3 /-
Vimpelcom Holdings Bv XS0889401724 13-Feb-23 1000 200/1 100 USD Fixed 5.950 75.88 78.88 9.75 BB /Ba3 /-
Telecommunications / IT
Page 14
Page 15
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Ajecorp Bv USN01766AA73 14-May-22 450 150/1 100 USD Fixed 6.500 85.63 87.63 8.80 BB /- /BB+
Afren Plc USG01283AD52 01-Feb-16 253 200/1 100 USD Fixed 11.500 94.25 96.75 14.65 B+ /- /B
Afren Plc USG01283AF01 08-Apr-19 250 200/1 100 USD Fixed 10.250 85.88 88.38 13.90 B+ /- /B
Afren Plc USG01283AG83 09-Dec-20 360 200/1 100 USD Fixed 6.625 72.63 75.13 12.67 B+ /- /B
Anglogold Holdings Plc US03512TAD37 30-Jul-20 1250 1/1 100 USD Fixed 8.500 106.50 108.50 6.35 BB+ /Baa3 /-
Anglogold Holdings Plc US03512TAA97 15-Apr-20 700 1/1 100 USD Fixed 5.375 97.88 99.88 5.40 BB+ /Baa3 /-
Anglogold Holdings Plc US03512TAC53 01-Aug-22 750 1/1 100 USD Fixed 5.125 93.63 95.63 5.84 BB+ /Baa3 /-
Anglogold Holdings Plc US03512TAB70 15-Apr-40 300 1/1 100 USD Fixed 6.500 90.63 92.63 7.13 BB+ /Baa3 /-
Bharat Petroleum (BPCL) XS0848436365 25-Oct-22 500 200/1 100 USD Fixed 4.625 100.88 103.88 4.04 - /Baa3 /BBB-
China Automation Group XS0615048260 20-Apr-16 192 200/1 100 USD Fixed 7.750 100.50 102.50 5.81 BB- /Ba3 /-
China Construct Bk Asia XS1100009874 20-Aug-24 750 200/1 100 USD Variable 4.250 99.88 101.88 3.81 - /Baa1 /A-
China Hongqiao Group XS1081333921 26-Jun-17 400 200/1 100 USD Fixed 7.625 101.50 103.50 6.12 BB /- /BB
China Hongqiao Group XS1132125946 03-May-18 300 200/1 100 USD Fixed 6.875 98.63 100.63 6.66 BB /- /BB
China Oil And Gas Group USG2115XAA66 25-Apr-18 350 200/1 100 USD Fixed 5.250 101.38 103.38 4.17 BB+ /Ba1 /-
China Oil And Gas Group XS1132375897 07-May-20 300 200/1 100 USD Fixed 5.000 97.25 99.25 5.16 BB+ /Ba1 /-
Cimento Tupi Sa USP9159EAA03 11-May-18 185 2/1 100 USD Fixed 9.750 93.75 96.75 10.91 B /- /B
Cimpor Financial Opertns USN20137AD23 17-Jul-24 750 200/1 100 USD Fixed 5.750 92.88 94.88 6.47 BB /- /BB
Citic Ltd XS0758793342 21-Jan-18 1100 200/1 100 USD Fixed 6.875 109.88 111.88 2.87 BBB+ /A3 /-
Citic Ltd XS0912154381 10-Apr-20 500 200/1 100 USD Fixed 6.375 111.25 113.25 3.62 BBB+ /A3 /-
Cliffs Natural Resources US18683KAA97 15-Mar-20 400 2/1 100 USD Fixed 5.900 63.00 70.00 14.17 BB- /Ba2 /-
Cnpc General Capital Ltd USG22004AF54 14-May-17 750 200/1 100 USD FRN 1.133 98.50 100.50 0.93 A+ /A1 /A+
Cnpc General Capital Ltd USG22004AG38 14-May-19 750 200/1 100 USD Fixed 2.750 98.25 100.25 2.69 A+ /A1 /A+
Colbun Sa USP2867KAE66 10-Jul-24 500 200/1 100 USD Fixed 4.500 99.38 101.38 4.32 BBB- /- /BBB
Dana Gas (C) (S) XS0914266415 31-Oct-17 364 45/0.01 100 USD Fixed 7.000 84.63 91.63 10.38 Not Rated
Dana Gas (S) XS0914266845 31-Oct-17 425 45/0.01 100 USD Fixed 9.000 88.88 92.88 11.94 Not Rated
DEWA XS0504040725 22-Apr-15 1000 100/1 100 USD Fixed 8.500 102.25 103.25 -0.22 - /Baa2 /WD
DEWA XS0551313926 21-Oct-16 500 100/1 100 USD Fixed 6.375 107.63 109.63 1.15 - /Baa2 /WD
DEWA XS0551313686 21-Oct-20 1500 100/1 100 USD Fixed 7.375 121.50 123.50 2.98 - /Baa2 /WD
DEWA (S) XS0897680558 05-Mar-18 1000 200/1 100 USD Fixed 3.000 101.38 103.38 1.92 BBB /- /-
Dolphin Energy Ltd USM28368AA21 15-Jun-19 772 100/1 100 USD Fixed 5.888 109.13 110.63 3.33 - /A1 /A+
Dolphin Energy Ltd USM28368AB04 15-Dec-21 1300 200/1 100 USD Fixed 5.500 113.50 115.00 3.10 - /A1 /A+
Doric Nimrod Air 2012-1A US258258AA01 30-Nov-22 379 200/1 100 USD Fixed 5.125 104.50 106.00 4.23 - /A3 /-
Dp World Ltd (C) XS1078764302 19-Jun-24 1000 200/200 100 USD Fixed 1.750 106.38 107.88 0.89 - /Baa3 /BBB-
Industrials / Energy
Page 15
Page 16
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
DP World XS0308427581 02-Jul-37 1750 100/10 100 USD Fixed 6.850 114.38 115.88 5.60 NR /Baa3 /BBB-
DP World (S) XS0307408152 02-Jul-17 1500 100/10 100 USD Fixed 6.250 108.63 110.13 2.17 NR /Baa3 /BBB-
Emirates Airlines XS0632833553 08-Jun-16 1000 200/1 100 USD Fixed 5.125 104.50 106.00 1.08 Not Rated
Emirates Airlines XS0885065887 06-Feb-25 750 200/1 100 USD Fixed 4.500 100.25 101.75 4.29 Not Rated
Emirates Airlines (S) XS0904232310 19-Mar-23 805 200/1 100 USD Fixed 3.875 99.75 101.25 3.70 Not Rated
Eskom Holdings Soc Ltd XS0579851949 26-Jan-21 1750 200/1 100 USD Fixed 5.750 102.63 104.63 4.87 BBB- /Ba1 /-
Eskom Holdings Soc Ltd XS0958072240 06-Aug-23 1000 200/1 100 USD Fixed 6.750 107.63 109.63 5.35 BBB- /Ba1 /-
Exim Sukuk Malaysia (S) XS0981802738 19-Feb-19 300 200/1 100 USD Fixed 2.874 100.00 102.00 2.37 - /A3 /A-
Fibria Overseas Finance US31572UAE64 12-May-24 600 2/1 100 USD Fixed 5.250 100.13 102.13 4.96 BB+ /Ba1 /BBB-
Gazprom (Gaz Capital Sa) XS0974126186 25-Sep-20 500 100/1 100 GBP Fixed 5.338 89.88 92.88 6.84 BBB- /Baa1 /BBB
Gazprombk (Gpb Finance) XS0975320879 28-Dec-23 750 200/1 100 USD Variable 7.496 79.25 82.25 13.29 - /NR /BB-
Gems Mea Sukuk Ltd (S) XS0995041539 Perpetual 200 150/1 100 USD Variable 12.000 116.38 118.38 6.64 Not Rated
General Electric XS0880289292 30-Jan-43 700 200/1 100 USD Fixed 4.625 99.00 101.00 4.28 AA+ /A1 /-
Global Liman Isletmeleri XS1132825099 14-Nov-21 250 200/1 100 USD Fixed 8.125 94.13 96.63 8.78 - /B1 /BB-
Gol Finance US38045UAC45 03-Apr-17 84 2/1 100 USD Fixed 7.500 101.75 104.25 5.52 - /B3 /B-
Gold Fields Orogen Hold XS0547082973 07-Oct-20 1000 200/1 100 USD Fixed 4.875 85.63 88.13 7.42 BB+ /Ba1 /-
Greenko Dutch Bv USN3700LAA37 01-Aug-19 550 200/1 100 USD Fixed 8.000 89.25 91.75 10.27 B /- /B
Indian Oil Corp Ltd XS0480289189 22-Jan-15 500 100/1 100 USD Fixed 4.750 98.75 100.75 -1.35 - /Baa3 /BBB-
Indian Oil Corp Ltd XS0654493823 02-Aug-21 500 200/1 100 USD Fixed 5.625 107.38 110.38 3.84 - /Baa3 /BBB-
Indian Oil Corp Ltd XS0955024236 01-Aug-23 500 200/1 100 USD Fixed 5.750 109.13 111.13 4.20 - /Baa3 /BBB-
Indian Railway Finance C XS0602696618 30-Mar-16 200 200/1 100 USD Fixed 4.406 101.75 103.75 1.51 BBB- /Baa3 /BBB-
Indian Railways Finance Co. XS0836520717 10-Oct-17 300 200/1 100 USD Fixed 3.417 100.13 103.13 2.27 BBB- /Baa3 /BBB-
Jsw Steel Ltd XS1133588233 12-Nov-19 500 200/1 100 USD Fixed 4.750 96.63 98.63 5.07 - /(P)Ba1 /BB+
Klabin Finance Sa USL5828LAA72 16-Jul-24 500 200/1 100 USD Fixed 5.250 96.63 98.63 5.43 BBB- /- /BBB-
Kuwait Energy Plc XS1086694111 04-Aug-19 250 200/1 100 USD Fixed 9.500 98.75 100.75 9.29 B- /- /B-
Maoye International Hold USG5804GAE47 19-May-17 300 200/1 100 USD Fixed 7.750 98.50 101.50 7.07 BB /Ba3 /-
Masisa USP6460HAA34 05-May-19 300 200/1 100 USD Fixed 9.500 93.75 96.75 10.43 BB- /- /BB
Millenium Offshore Services USY53653AA28 15-Feb-18 225 200/1 100 USD Fixed 9.500 106.00 109.00 -0.65 B+ /B2 /-
Minsur Sa USP6811TAA36 07-Feb-24 450 150/1 100 USD Fixed 6.250 109.13 111.13 4.74 BBB- /Baa3 /BBB-
Nakilat Inc USY62014AB48 31-Dec-33 274 100/1 100 USD Fixed 6.267 111.88 114.88 5.04 A+ /A1 /A-
Nitrogenmuvek Vegyipari XS0928972909 21-May-20 200 200/1 100 USD Fixed 7.875 99.75 101.75 7.48 BB- /- /BB-
Norilsk Nickel OJSC XS0922134712 30-Apr-18 750 200/1 100 USD Fixed 4.375 93.63 95.63 5.81 BBB- /Baa2 /BBB-
Norilsk Nickel OJSC XS0982861287 28-Oct-20 1000 200/1 100 USD Fixed 5.550 93.38 95.38 6.51 BBB- /Baa2 /BBB-
Page 16
Page 17
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Novolipetsk Steel OJSC XS0808632847 19-Feb-18 708 200/1 100 USD Fixed 4.450 88.88 91.38 7.53 BB+ /Baa3 /BBB-
Novolipetsk Steel OJSC XS0783934325 26-Sep-19 471 200/1 100 USD Fixed 4.950 88.50 91.00 7.20 BB+ /Baa3 /BBB-
NTPC Ltd XS0245398226 02-Mar-16 300 100/1 100 USD Fixed 5.875 103.25 105.25 1.56 BBB- /- /BBB-
NTPC Ltd XS0648477593 14-Jul-21 500 200/1 100 USD Fixed 5.625 109.13 111.13 3.71 BBB- /- /BBB-
NTPC Ltd XS0835676353 03-Oct-22 500 200/1 100 USD Fixed 4.750 103.38 105.38 3.94 BBB- /- /BBB-
NTPC Ltd XS1143390679 26-Nov-24 500 200/1 100 USD Fixed 4.375 99.88 101.88 4.14 BBB- /- /BBB-
Office Cherifien Des Pho XS1061043011 25-Apr-24 1250 200/1 100 USD Fixed 5.625 105.13 106.63 4.74 BBB- /- /BBB-
Office Cherifien Des Pho XS1061043367 25-Apr-44 600 200/1 100 USD Fixed 6.875 109.50 111.00 6.07 BBB- /- /BBB-
Oil India Ltd XS1057074871 17-Apr-19 500 200/1 100 USD Fixed 3.875 102.13 104.13 2.86 - /Baa2 /BBB-
Oil India Ltd XS1056232322 17-Apr-24 500 200/1 100 USD Fixed 5.375 107.50 109.50 4.14 - /Baa2 /BBB-
Ongc Videsh Ltd XS0927643030 07-May-18 300 200/1 100 USD Fixed 2.500 98.50 100.00 2.50 BBB- /Baa2 /-
Ongc Videsh Ltd XS1084957155 15-Jul-19 750 200/1 100 USD Fixed 3.250 100.13 101.63 2.87 BBB- /Baa2 /-
Ongc Videsh Ltd XS0922882344 07-May-23 500 200/1 100 USD Fixed 3.750 97.50 99.00 3.89 BBB- /Baa2 /-
Ongc Videsh Ltd XS1079848369 15-Jul-24 750 200/1 100 USD Fixed 4.625 102.38 103.88 4.13 BBB- /Baa2 /-
Petrobras Global Finance US71647NAJ81 17-Mar-17 1400 2/1 100 USD FRN 2.595 96.75 98.25 3.39 BBB- /Baa2 /BBB
Petrobras Global Finance US71647NAL38 17-Mar-20 500 2/1 100 USD FRN 3.115 95.38 96.88 3.76 BBB- /Baa2 /BBB
Petrobras Global Finance US71647NAG43 17-Mar-17 1600 2/1 100 USD Fixed 3.250 97.38 98.88 3.77 BBB- /Baa2 /BBB
Petrobras Global Finance US71647NAH26 17-Mar-20 1500 2/1 100 USD Fixed 4.875 97.13 98.63 5.17 BBB- /Baa2 /BBB
Petrobras Intl Fin Co US71645WAR25 27-Jan-21 5250 2/1 100 USD Fixed 5.375 97.88 99.38 5.49 BBB- /Baa2 /BBB
Petrobras Global Finance US71647NAF69 20-May-23 3500 2/1 100 USD Fixed 4.375 90.38 91.88 5.59 BBB- /Baa2 /BBB
Petrobras Global Finance US71647NAM11 17-Mar-24 2500 2/1 100 USD Fixed 6.250 100.38 101.88 5.98 BBB- /Baa2 /BBB
Petrobras Global Finance US71647NAK54 17-Mar-44 1000 2/1 100 USD Fixed 7.250 101.88 103.38 6.98 BBB- /Baa2 /BBB
Petroleos De Venezuela S USP7807HAK16 02-Nov-17 6150 0.1/0.1 100 USD Fixed 8.500 66.75 68.75 24.08 CCC+ /- /B
PLN Indonesia US71568QAA58 22-Nov-21 1000 200/1 100 USD Fixed 5.500 105.88 108.38 4.10 BB /Baa3 /BBB-
Power Grid Corp Of India XS0875759184 17-Jan-23 500 200/1 100 USD Fixed 3.875 96.88 99.38 3.96 BBB- /- /BBB-
Puma Intl Financing XS1022807090 01-Feb-21 1000 200/1 100 USD Fixed 6.750 97.63 99.63 6.82 - /Ba3 /BB
Ras Laffan Lng 3 USM8222MAB83 30-Sep-16 284 250/1 100 USD Fixed 5.832 104.00 106.00 2.42 A /Aa3 /A+
Ras Laffan Lng Ii USM8221WAA91 30-Sep-20 867 250/1 100 USD Fixed 5.298 107.25 109.25 3.52 A /Aa3 /A+
Reliance Holding USU75888AA26 19-Oct-20 1000 250/1 100 USD Fixed 4.500 104.50 106.50 3.27 BBB+ /Baa2 /-
Reliance Holding USU75888AC81 14-Feb-22 1500 250/1 100 USD Fixed 5.400 108.88 110.88 3.66 BBB+ /Baa2 /-
Reliance Holding USU75888AB09 19-Oct-40 500 250/1 100 USD Fixed 6.250 113.63 115.63 5.15 BBB+ /Baa2 /-
Rural Electrification XS0579361428 25-Jan-16 500 100/1 100 USD Fixed 4.250 101.38 102.88 1.67 - /Baa3 /BBB-
Sabic Capital I Bv XS0554434240 02-Nov-15 1000 200/1 100 USD Fixed 3.000 101.00 102.50 0.22 A+ /A1 /A+
Sabic Capital II Bv XS0971431613 03-Oct-18 1000 200/1 100 USD Fixed 2.625 100.50 102.00 2.08 A+ /A1 /A+
Page 17
Page 18
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Sabic Capital I Bv XS0995811741 20-Nov-20 750 100/1 100 EUR Fixed 2.750 107.75 109.25 1.13 A+ /A1 /A+
Samarco Mineracao Sa USP84050AC02 26-Sep-24 500 200/1 100 USD Fixed 5.375 94.38 95.88 5.93 BBB- /- /BBB
Sasol Financing Int US803865AA25 14-Nov-22 1000 200/1 100 USD Fixed 4.500 100.13 101.63 4.26 BBB /Baa1 /-
Saudi Electricity Co (S) XS0764883806 03-Apr-17 500 200/1 100 USD Fixed 2.665 102.75 103.75 1.02 AA- /A1 /AA-
Saudi Electricity Co (S) XS0767862914 03-Apr-22 1250 200/1 100 USD Fixed 4.211 106.38 107.38 3.08 AA- /A1 /AA-
Saudi Electricity Co (S) XS0908512410 08-Apr-23 1000 200/1 100 USD Fixed 3.473 101.38 102.38 3.15 AA- /A1 /AA-
Saudi Elec Global Sukuk (S) XS1054250235 08-Apr-24 1500 200/1 100 USD Fixed 4.000 104.75 105.75 3.28 AA- /A1 /AA-
Saudi Electricity Co (S) XS0911024635 08-Apr-43 1000 200/1 100 USD Fixed 5.060 102.00 103.00 4.86 AA- /A1 /AA-
Saudi Elec Global Sukuk (S) XS1054250318 08-Apr-44 1000 200/1 100 USD Fixed 5.500 109.13 110.13 4.85 AA- /A1 /AA-
Schahin Ii Finan Co Spv USG785ARAA65 25-Sep-22 675 200/10 100 USD Fixed 5.875 87.63 89.63 7.64 BBB- /Baa3 /BBB-
Shanghai Elc Grp Glb Inv XS1092649620 14-Aug-19 500 200/1 100 USD Fixed 3.000 100.25 102.25 2.49 A /A2 /A
Srilankan Airlines Ltd XS1080090126 27-Jun-19 175 200/1 100 USD Fixed 5.300 99.13 101.13 5.02 B+ /- /-
Syndicate Bank/London XS1073127901 04-Dec-19 400 200/1 100 USD Fixed 3.875 99.00 101.00 3.65 BBB- /Baa3 /-
TAQA XS0272948554 27-Oct-16 1000 100/1 100 USD Fixed 5.875 108.13 109.63 0.72 A- /A3 /-
TAQA XS0717839525 13-Mar-17 750 200/1 100 USD Fixed 4.125 105.13 106.63 1.15 A- /A3 /-
TAQA XS0328390702 25-Oct-17 500 100/1 100 USD Fixed 6.165 111.25 112.75 1.62 A- /A3 /-
TAQA XS0863523972 12-Jan-18 750 200/1 100 USD Fixed 2.500 100.63 102.13 1.79 A- /A3 /-
TAQA XS0380056183 01-Aug-18 500 100/1 100 USD Fixed 7.250 117.25 118.75 1.90 A- /A3 /-
TAQA XS0452300402 16-Sep-19 500 100/1 100 USD Fixed 6.250 116.88 118.38 2.17 A- /A3 /-
TAQA XS0717839871 13-Dec-21 750 200/1 100 USD Fixed 5.875 117.00 118.50 2.94 A- /A3 /-
TAQA XS0863524277 12-Jan-23 1250 200/1 100 USD Fixed 3.625 100.13 101.63 3.39 A- /A3 /-
TAQA XS1017435352 06-May-24 750 200/1 100 USD Fixed 3.875 101.13 102.63 3.54 A- /A3 /-
TAQA XS0272949016 27-Oct-36 912 100/1 100 USD Fixed 6.500 125.75 127.25 4.52 A- /A3 /-
Tata Motors Ltd XS1121907676 30-Apr-20 500 200/1 100 USD Fixed 4.625 100.75 102.75 4.05 BB /Ba2 /-
Tata Steel XS1092182606 31-Jan-20 500 200/1 100 USD Fixed 4.850 101.50 103.00 4.19 BB /- /BB+
Tata Steel XS1090889947 31-Jul-24 1000 200/1 100 USD Fixed 5.950 100.38 101.88 5.69 BB /- /BB+
Topaz Marine Sa USL90608AA56 01-Nov-18 350 200/1 100 USD Fixed 8.625 97.50 100.50 8.47 B- /B3 /-
Transnet Soc Ltd XS0590902325 10-Feb-16 750 200/1 100 USD Fixed 4.500 102.38 103.88 1.16 BBB- /Baa1 /-
Transnet Soc Ltd XS0809571739 26-Jul-22 1000 200/1 100 USD Fixed 4.000 95.75 97.25 4.43 BBB- /Baa1 /BBB
Tullow Oil Plc USG91235AA22 01-Nov-20 650 200/1 100 USD Fixed 6.000 79.00 81.00 10.39 B+ /B2 /-
Tullow Oil Plc USG91235AB05 15-Apr-22 650 200/1 100 USD Fixed 6.250 78.63 80.63 10.04 B+ /B2 /-
Tupras-Turkiye Petrol Ra XS0849020556 02-May-18 700 200/1 100 USD Fixed 4.125 99.63 101.13 3.77 - /Ba1 /BBB-
Vale Overseas Limited US91911TAM53 11-Jan-22 2250 2/1 100 USD Fixed 4.375 98.13 99.63 4.44 A- /Baa2 /BBB+
Vedanta Resources Plc USG9328DAF71 07-Jun-16 750 200/1 100 USD Fixed 6.750 102.25 104.25 3.80 BB /Ba3 /WD
Page 18
Page 19
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Vedanta Resources Plc USG9328DAH38 31-Jan-19 1200 200/1 100 USD Fixed 6.000 95.50 97.50 6.70 BB /Ba3 /WD
Vedanta Resources Plc USG9328DAG54 07-Jun-21 900 200/1 100 USD Fixed 8.250 97.75 99.75 8.30 BB /Ba3 /WD
Vedanta Resources Plc USG9328DAJ93 31-May-23 500 200/1 100 USD Fixed 7.125 91.00 93.00 8.29 BB /Ba3 /WD
Videocon Industries Ltd (C) XS0566786546 16-Dec-15 194 100/100 100 USD Fixed 6.750 86.75 89.75 18.18 Not Rated
Waha Aerospace XS0528721623 28-Jul-20 900 100/1 100 USD Fixed 3.925 104.88 106.38 2.70 AA /Aa2 /AA
Yancoal Intl Res Dev USY97279AA45 16-May-17 450 200/1 100 USD Fixed 4.461 97.50 100.00 4.46 BB+ /Ba2 /BB+
Yancoal Intl Res Dev USY97279AB28 16-May-22 550 200/1 100 USD Fixed 5.730 92.25 94.75 6.63 BB+ /Ba2 /BB+
Yingde Gases Invstmt Ltd USG9844KAA72 22-Apr-18 425 200/1 100 USD Fixed 8.125 96.13 98.13 8.77 BB- /Ba3 /BB
Yingde Gases Invstmt Ltd USG9844KAB55 28-Feb-20 250 200/1 100 USD Fixed 7.250 90.50 92.50 9.08 BB- /Ba3 /BB
Zoomlion Hk Spv Co Ltd USY9896RAB79 20-Dec-22 600 200/1 100 USD Fixed 6.125 92.00 94.00 7.12 BB /- /BB+
Abn Amro Bank Nv XS0619547838 27-Apr-22 595 200/1 100 USD Fixed 6.250 111.88 113.88 4.06 BBB- /Baa3 /A-
Abn Amro Bank Nv XS0827817650 13-Sep-22 1500 200/1 100 USD Variable 6.250 107.88 109.88 2.52 BBB- /NR /A-
Bank Of Scotland Plc XS0066120915 15-May-21 500 10/10 100 GBP Fixed 9.375 130.13 131.13 3.82 BBB- /Baa2 /BBB+
Barclays XS0322792010 Perpetual 117 100/1 100 USD Variable 7.434 110.13 112.63 3.03 BB /Ba1 /BBB-
Barclays XS0397801357 Perpetual 3000 50/1 100 GBP Variable 14.000 131.00 134.00 5.31 BB /Ba1 /BBB-
Barclays Bank Plc US06740L8C27 21-Nov-22 3000 200/1 100 USD Fixed 7.625 109.50 111.50 5.80 BB+ /NR /BBB-
Barclays Bank Plc US06739FHK03 10-Apr-23 1000 200/1 100 USD Variable 7.750 108.38 110.38 4.37 BB+ /NR /BBB-
Citigroup Inc XS0180008905 18-Nov-15 250 1/1 100 GBP Fixed 5.500 102.38 104.38 0.83 A- /Baa2 /A
Commerzbank Ag XS0101360161 30-Aug-19 150 10/10 100 GBP Fixed 6.625 108.50 110.50 4.13 BB /Ba2 /BBB-
Commerzbank Ag DE000CB83CF0 16-Mar-21 1250 100/100 100 EUR Fixed 7.750 122.25 124.25 3.39 BB /Ba2 /BBB-
Credit Agricole FR0010772244 Perpetual 1350 2/2 100 USD Fixed 9.750 99.13 101.13 -12.18 BB+ /Ba2 /BBB-
Credit Agricole FR0010533554 Perpetual 500 2/2 100 USD Fixed 7.375 101.25 103.25 -1.49 BB+ /Ba2 /BBB-
Credit Agricole Sa USF22797RT78 Perpetual 1750 200/1 100 USD Variable 7.875 103.50 105.00 7.12 BB /NR /BB+
Credit Europe Bank NV XS0878492791 24-Jan-23 400 200/1 100 USD Variable 8.000 101.50 104.50 6.39 - /B1 /B+
Goldman Sachs Group Inc XS0212249014 15-Dec-15 600 1/1 100 GBP Fixed 5.250 103.38 104.38 0.91 A- /Baa1 /A
Jaguar Land Rover Automo USG50027AB03 15-May-21 410 150/1 100 USD Fixed 8.125 108.25 112.25 2.20 BB /Ba2 /BB-
KBC Bank NV BE6248510610 25-Jan-23 1000 200/200 100 USD Variable 8.000 112.13 113.63 3.37 BBB- /NR /-
Lloyds Bank Plc XS0517466198 07-Sep-15 75 1/0.1 100 GBP Fixed 5.375 101.38 103.38 0.82 A /A1 /A
Lloyds Bank Plc US53947QAA58 14-Sep-20 2000 100/1 100 USD Fixed 6.500 114.75 116.75 3.29 BBB- /Baa2 /BBB+
Lloyds Bank Plc XS0717735582 16-Dec-21 466 1/1 100 GBP Variable 10.750 115.38 116.38 2.36 BBB- /Baa3 /BBB+
Macquarie Bank Ltd US55608YAA38 07-Apr-21 1000 2/1 100 USD Fixed 6.625 113.38 116.38 3.70 BBB /Baa2 /A-
Macquarie Bank Ltd XS0543111768 21-Sep-20 600 50/50 100 EUR Fixed 6.000 117.00 120.00 2.27 BBB /Baa2 /A-
Bank Of America Corp XS0191960896 12-Dec-14 350 1/1 100 GBP Fixed 5.750 98.25 100.25 -16.11 A- /Baa2 /A
Various Developed Market Issues
Page 19
Page 20
Fixed Income Trading
December 4, 2014
Security Name ISIN Code MaturityOutst. Amnt
(Mn)
Min Piece/
Incr. (000)
Value at
MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer Offer Yield %
Credit Rating
S&P /Moody /Fitch
Mizuho Group XS0803109270 18-Jul-22 1500 200/1 100 USD Fixed 4.200 102.50 105.50 3.37 A /A2 /-
Morgan Stanley XS0236338504 30-Nov-15 325 50/1 100 GBP Fixed 5.125 102.00 104.00 0.99 A- /Baa2 /A
Morgan Stanley XS0531922465 10-Aug-20 1500 50/50 100 EUR Fixed 5.375 122.50 123.50 1.08 A- /Baa2 /A
Morgan Stanley US61747WAF68 25-Jan-21 2592 100/1 100 USD Fixed 5.750 113.88 115.88 2.90 A- /Baa2 /A
Natixis USF6483LHM57 Perpetual 186 100/1 100 USD Variable 10.000 115.63 118.63 4.06 BB+ /Ba2 /BBB-
Natl Westminster Bank XS0090254722 07-Sep-21 300 10/10 100 GBP Fixed 6.500 111.75 113.75 4.12 BB+ /Ba2 /BBB-
Prudential Plc XS0873630742 Perpetual 700 200/1 100 USD Fixed 5.250 101.38 103.38 4.15 A- /Baa1 /BBB+
Rabobank Nederland XS0826634874 14-Sep-22 1000 100/1 100 EUR Fixed 4.125 113.50 115.50 1.95 BBB+ /A2 /A+
Rabobank Nederland XS0583302996 Perpetual 2000 100/1 100 USD Variable 8.375 106.50 108.50 3.00 - /- /BBB
Rabobank Nederland XS0703303262 Perpetual 2000 100/1 100 USD Variable 8.400 109.25 111.25 3.75 - /- /BBB
Royal Bk Of Scotland Plc XS0356705219 09-Apr-18 2000 50/1 100 EUR Fixed 6.934 114.63 116.63 1.75 BB+ /Ba2 /BBB-
Royal Bk Of Scotland Plc XS0753308559 16-Mar-22 2132 1/1 100 USD Variable 9.500 113.63 115.63 2.39 BB+ /NR /BBB-
Royal Bk Scotlnd Grp Plc US780099CE50 15-Dec-22 2250 2/1 100 USD Fixed 6.125 107.63 109.63 4.67 BB /Ba3 /BBB-
Societe Generale XS0503530874 17-Dec-15 350 50/50 100 GBP Fixed 3.875 101.13 103.13 0.80 A /A2 /A
Societe Generale XS0454569863 Perpetual 1000 2/2 100 USD Fixed 8.750 101.25 103.25 -1.03 BB+ /Ba2 /-
Standard Chartered Plc XS0874014722 11-Jan-23 2000 200/1 100 USD Fixed 3.950 95.75 97.75 4.28 BBB /A3 /A+
UBS AG CH0214139930 22-May-23 1500 200/1 100 USD Variable 4.750 100.00 102.00 4.11 BBB /NR /BBB+
Unicredit Spa XS0849517650 31-Oct-22 1500 100/1 100 EUR Fixed 6.950 119.25 121.25 3.78 BB+ /Ba2 /BBB
Unicredit Spa XS0925177130 02-May-23 750 200/1 100 USD Variable 6.375 103.75 105.75 4.53 BB+ /Ba2 /BBB
Egypt 3M T Bills N/A 03-Mar-15 2500 500/25 100 EGP Zero Cpn N/A 96.96 97.43 8.46 B/B2/B+
Egypt 6M T Bills N/A 02-Jun-15 3000 500/25 100 EGP Zero Cpn N/A 93.97 94.86 8.69 B/B2/B+
Egypt 9M T Bills N/A 01-Sep-15 3500 500/25 100 EGP Zero Cpn N/A 91.19 92.45 8.74 B/B2/B+
Egypt 1Y T Bills N/A 01-Dec-15 4000 500/25 100 EGP Zero Cpn N/A 88.47 90.06 8.85 B/B2/B+
(C) Denotes a Convertible bond
(S) Denotes a Sukuk
* Offer Yield adjusted for tax
Egypt T Bills
Page 20
