25
GLOBAL SYNDICATED LOANS LEAGUE TABLES 2014
GLOBAL SYNDICATED LOANS LEAGUE TABLES
2014
CONTENTS
1. Global market review
2. U.S. market review
3. Canada market review
4. Latin America market review
5. EMEA market review
6. Asia market review
7. Table criteria
DATA SUBMISSIONS AND QUERIES
Contact Phone Email
North America Paul Bandong +1 609 279 5187 [email protected]
Latin America Olov Widen +55 11 2395 9122 [email protected]
Europe Charlotte Howell +44 20 7330 7326 [email protected]
Africa Robyn Smith +27 21 818 0042 [email protected]
Asia Pacific Hung Truong +65 6212 1326 [email protected]
Bloomberg’s global syndicated loans database consists of more than 54,000 active loan tranches (and approximately 160,000 replaced or retired loans), covering nearly 40,000 unique borrowers across more than 200 countries and 100 different currencies.
LEAG<GO> for a full range of league tables
NI LEAG CRL<GO> or www.bloomberg.com for a full range of market-specific league
table publications
LOAN<GO> for Bloomberg’s syndicated loans product
Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.
2014
MANAGER RANKINGS
GLOBAL SYNDICATED LOANS
© 2014 Bloomberg Finance L.P. All rights reserved.
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FY
20
14
GLOBAL LOANS VOLUME
Global Loans Review
USD 1 - 300 Mln
USD 301 - 600 Mln
USD 601 - 1,000 Mln
USD 1,001 - 2,000 Mln
USD 2,001 - 4,000 Mln
USD 4,001 - 8,000 Mln
USD 8,001 - 16,000 Mln
USD 16,001 - 32,000 Mln
USD 32,001- 64,000 Mln
USD 64,000 Mln -
U.S. LOANSUSD 1,908.2 billion (-11.6%)
1. JP Morgan 16.4%2. BAML 15.2%3. Wells Fargo 10.4%
EMEA MLAUSD 1,214.5 billion (+32.4%)
1. HSBC 5.7%2. BNP Paribas 5.5%3. Barclays 4.5%
CANADA LOANSUSD 225 billion (+3.3%)
1. RBC 18.9%2. TD Securities 16.2%3. CIBC 15.5%
APAC EX-JP MLAUSD 524.2 billion (+22.1%)
1. State Bank of India 8.4%2. Bank of China 7.3%3. ANZ 5.8%
MENAUSD 65.9 billion (+25%)
1. HSBC 5.6%2. First Gulf Bank 4.7%3. NBAD 4.5%
LATIN AMERICA MLAUSD 42.2 billion (-11.9%)
1. MUFJ 8.5%2. Mizuho 8.0%3. JP Morgan 7.1%
SUB-SAHARAN AFRICAUSD 30.8 billion (+13.7%)
1. Standard Chartered 8.5%2. Standard Bank 8.0%3. Barclays 7.7%
AUS/N ZEALAND MLAUSD 126 billion (+9.5%)
1. ANZ 17.1%2. NAB 15.0%3. CBA 14.6%
GLOBAL LOANS VOLUME
USD 32,001- 64,000 Mln
USD 64,000 Mln -
USD 1 - 300 Mln
USD 301 - 600 Mln
USD 601 - 1,000 Mln
USD 1,001 - 2,000 Mln
USD 2,001 - 4,000 Mln
USD 4,001 - 8,000 Mln
USD 8,001 - 16,000 Mln
USD 16,001 - 32,000 Mln
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FY
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DATE DEAL TYPE INDUSTRY
AMOUNT
(USD MLN)
Number of deals Facility Cons, Cyclical 16,898.0
Volume (USD Mln)
3,580 06/04/2014
1,908,210 Arrangers:
Avg Deal size (USD Mln) 533.0 05/13/2014 Revolver Financial 15,365.0
Arrangers:
Facility Cons, Cyclical 15,000.011/20/2014
JP Morgan Arrangers: BTYM, BNPPAR, CITI, MLPFS
Number of deals 1,043 04/30/2014 Facility Cons, Cyclical 12,160.0
Volume (USD Mln) 312,560 Arrangers:
Avg Deal size (USD Mln) 299.7 10/17/2014 Facility Cons, Cyclical 12,000.0
Arrangers:
406,457.0 21.3% -0.6%
313,960.0 16.5% -11.4%
288,905.0 15.1% -12.6%
257,365.0 13.5% 15.2%
218,218.0 11.4% -9.0%
137,562.0 7.2% -46.8%
94,222.0 4.9% 16.2%
92,358.0 4.8% -18.2%
74,668.0 3.9% -36.1%
13,242.0 0.7% -20.2%
U.S. LEVERAGED DEBT QUARTERLY VOLUME
U.S. LOANS INDUSTRY BREAKDOWN
Basic Materials
Technology
Utilities
RAISED
(USD MLN)
% OF
TOTAL
% CHNG
YOY
Consumer, Non-cyclical
Consumer, Cyclical
Financial
Energy
Industrial
DEPOSITORY TRUST COMPANY INC
BAML, BARCS, BOC, DB, JPM, MUFG
GENERAL MOTORS COMPANY
BARCS, BNPPAR, CITI, CMZB, CA, INDCOM, JPM, LLOYDS, MIZUHO, MLPFS, MSSF, RBCCM, RBS, SG
SUMMARY
• Total volume for 2014 for U.S. loans was USD 1,917 billion, including refinanced debt, a decrease of 11% from 2013. Issuance totaled 97%
of 2013, with 3,609 deals closing this year.
• U.S. leveraged loan volume for 2014 was USD 866 billion, including refinanced debt, a decrease of 21% from 2013. 2,003 deals were issued
in the leveraged loan market in 2014, a decrease of 14% from 2013.
• U.S. institutional loan volume for 2014 was USD 522 billion, including refinanced debt, a decrease of 26% from 2013. 1,284 deals were
issued in the institutional loan market in 2014, a decrease of 15% from 2013.
• The top three industries in the U.S. were consumer, non cyclical, consumer, cyclical, and financial, which collectively accounted for 53% of
total deal activity in 2014. The consumer, non-cyclical sector was the largest contributor, accounting for more than $406 billion of US deal
activity.
TOP ARRANGER
Deal Activity
U.S. Loans Review
Diversified
Communications
INDUSTRY
ISSUER
WAL-MART STORES INC
BAML, BARCS, CITI, HSBC, JPM, WFC
TOYOTA MOTOR CORPORATION
FORD MOTOR COMPANY
BAML, BARCS, BNP, CACIB, CITI, CS, DB, GS, HSBCL, JPM, MS, MUFG, RBCCM, RBS, SUMI
U.S. LOANS QUARTERLY VOLUME AND SPREAD
U.S. LOANS: LARGEST DEALS OF 2014
0
100
200
300
400
500
$0
$100
$200
$300
$400
$500
$600
$700
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Bas
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USD
Bln
Leveraged Non-leveraged Leveraged Loans Spread at Close (basis points)
$0
$100
$200
$300
$400
$500
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
USD
Bln
Leveraged Loans High Yield Bonds
Consumer, Non-cyclical
21%
Consumer, Cyclical
17%
Financial15%
Energy
14%
Industrial
Communications7%
Other15%
11%
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FY
20
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U.S. Loans U.S. Loans - New Money
JP Morgan 1 16.4 312,560 1043 1 16.8 -0.4 JP Morgan 1 15 103,085 670 1 18.1 -3.1
Bank of America Merrill Lynch 2 15.2 290,589 1157 2 15.2 - Bank of America Merrill Lynch 2 13.7 94,670 742 2 15 -1.3
Wells Fargo & Co 3 10.4 197,771 805 3 8.9 1.5 Wells Fargo & Co 3 8.3 57,280 485 4 7.5 0.8
Citi 4 8.4 160,411 465 4 8 0.4 Citi 4 6.1 42,173 279 6 5.2 0.9
Barclays 5 4.4 84,157 340 5 6.3 -1.9 Credit Suisse 5 5 34,165 277 7 3.9 1.1
Deutsche Bank AG 6 4.3 82,358 337 8 3.9 0.4 Deutsche Bank AG 6 4.8 32,953 245 8 3.2 1.6
Credit Suisse 7 3.6 68,885 365 6 4.3 -0.7 Barclays 7 4.7 32,513 222 3 7.9 -3.2
Morgan Stanley 8 3 56,340 278 7 4.1 -1.1 Morgan Stanley 8 3.6 24,922 198 5 5.6 -2
Mitsubishi UFJ Financial 9 2.8 53,224 185 12 2.2 0.6 Goldman Sachs & Co 9 3.4 23,491 199 9 3.2 0.2
RBC Capital Markets 10 2.6 50,300 279 10 2.7 -0.1 RBC Capital Markets 10 2.9 20,269 220 10 3.1 -0.2
Goldman Sachs & Co 11 2.6 49,086 262 9 3.4 -0.8 SunTrust Robinson Humphrey 11 2.3 15,882 176 16 1.5 0.8
RBS 12 2.4 45,849 248 11 2.5 -0.1 Jefferies LLC 12 2.1 14,392 125 21 1.3 0.8
BNP Paribas SA 13 2.1 39,956 140 13 2 0.1 US Bancorp 13 2 13,640 160 14 1.6 0.4
SunTrust Robinson Humphrey 14 2.1 39,251 265 16 1.5 0.6 UBS 14 1.9 12,856 119 15 1.6 0.3
US Bancorp 15 2 37,586 234 14 1.6 0.4 General Electric Capital Corp 15 1.8 12,539 192 11 2.1 -0.3
HSBC Bank PLC 16 1.7 32,758 114 15 1.6 0.1 Mitsubishi UFJ Financial 16 1.7 11,960 107 17 1.5 0.2
PNC Bank 17 1.5 29,334 256 19 1.3 0.2 PNC Bank 17 1.7 11,710 178 19 1.4 0.3
KeyBanc Capital Markets 18 1.4 27,284 196 21 1.1 0.3 RBS 18 1.7 11,636 143 12 1.8 -0.1
General Electric Capital Corp 19 1.2 22,770 229 18 1.4 -0.2 KeyBanc Capital Markets 19 1.6 10,991 144 22 1.2 0.4
BMO Capital Markets 20 1.1 21,889 195 20 1.1 - BNP Paribas SA 20 1.6 10,918 83 20 1.3 0.3
TOTAL 100% 1,908,210 3,580 2,157,290 100% TOTAL 100% 688,783 2,464 701,226 100%
U.S. Leveraged Loans U.S. Loans - Institutional
Bank of America Merrill Lynch 1 12.8 110,053 562 1 12.9 -0.1 Bank of America Merrill Lynch 1 10.1 52,237 301 1 11 -0.9
JP Morgan 2 10.6 91,572 417 2 12.3 -1.7 Credit Suisse 2 10 51,525 295 3 10 -
Wells Fargo & Co 3 8.5 73,385 326 3 7.7 0.8 Deutsche Bank AG 3 9 46,682 232 5 7.6 1.4
Credit Suisse 4 6.9 59,026 334 4 7.2 -0.3 JP Morgan 4 8.4 43,527 243 2 10.7 -2.3
Deutsche Bank AG 5 6.6 57,004 273 7 6 0.6 Barclays 5 7.1 36,793 195 4 7.8 -0.7
Barclays 6 5.8 49,832 237 5 6.3 -0.5 Morgan Stanley 6 6.6 34,052 189 7 7 -0.4
Citi 7 5.4 46,598 201 6 6.3 -0.9 Goldman Sachs & Co 7 6 31,118 193 6 7.5 -1.5
Morgan Stanley 8 5 43,026 221 9 5.2 -0.2 Citi 8 5.8 29,739 142 8 6.4 -0.6
Goldman Sachs & Co 9 4.5 38,738 221 8 5.7 -1.2 RBC Capital Markets 9 4.5 23,250 173 9 4.4 0.1
RBC Capital Markets 10 4.2 35,903 214 10 4.2 - Wells Fargo & Co 10 3.9 20,015 132 10 4.2 -0.3
General Electric Capital Corp 11 2.5 21,114 217 11 2.6 -0.1 Jefferies LLC 11 3.6 18,665 130 13 2.6 1
Jefferies LLC 12 2.4 20,235 142 14 1.8 0.6 UBS 12 3.2 16,578 126 11 3.5 -0.3
SunTrust Robinson Humphrey 13 2.3 19,818 166 13 1.9 0.4 General Electric Capital Corp 13 2.3 11,691 127 12 2.7 -0.4
UBS 14 2.2 19,007 146 12 2.6 -0.4 SunTrust Robinson Humphrey 14 1.9 9,829 108 14 1.4 0.5
RBS 15 1.7 14,554 120 16 1.5 0.2 BMO Capital Markets 15 1.4 7,187 91 15 1.3 0.1
BMO Capital Markets 16 1.6 13,732 147 15 1.7 -0.1 HSBC Bank PLC 16 1.3 6,646 40 21 0.7 0.6
KeyBanc Capital Markets 17 1.5 13,065 109 17 1.2 0.3 Macquarie Group Ltd 17 1.1 5,907 52 19 0.8 0.3
US Bancorp 18 1.2 10,518 78 19 1 0.2 RBS 18 1.1 5,831 75 16 0.8 0.3
HSBC Bank PLC 19 1.2 10,505 55 22 0.8 0.4 BNP Paribas SA 19 1.1 5,544 50 20 0.7 0.4
Mitsubishi UFJ Financial 20 1.2 10,375 46 20 1 0.2 Nomura Holdings Inc 20 1 5,157 44 28 0.4 0.6
TOTAL 100% 860,280 1,983 1,096,480 100% TOTAL 100% 516,686 1,266 701,776 100%
MKT SHARE
CHG (%)RANK MKT SHARE
VOLUME
USD (Mln)
DEAL
COUNT RANK MKT SHARE RANK
2014 2013
MKT SHARE
CHG (%) FIRM
2014
MKT SHARE
VOLUME
USD (Mln)
DEAL
COUNT RANK MKT SHARE
MKT SHARE
CHG (%)FIRM
2014 2013
MKT SHARE
CHG (%) FIRM
2014 2013
DEAL
COUNT
FIRM
RANK MKT SHARE
VOLUME
USD (Mln)
DEAL
COUNT RANK MKT SHARE RANK MKT SHARE
VOLUME
USD (Mln) RANK MKT SHARE
2013
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FY
20
14
Canada Loans
RBC Capital Markets 18.9 42,630 119 1 20.4 -1.5
TD Securities 16.2 36,560 114 3 14.9 1.3
CIBC 15.5 34,773 111 4 13.9 1.6
Scotiabank 12 27,031 88 2 15.5 -3.5
BMO Capital Markets 11.1 25,053 87 5 10.5 0.6
National Bank Financial Inc 8.7 19,596 90 6 7.1 1.6
Citi 2.5 5,736 11 8 2.2 0.3
JP Morgan 2.4 5,340 16 9 2 0.4
HSBC Bank PLC 2 4,550 20 10 1.9 0.1
Desjardins Capital Markets 1 2,714 16 12 1.1 0.1
100% 225,007 483 217,736 100%
Canada Loans - New Money
16.5 8,995 59 3 12.2 4.3
12.7 6,892 49 6 8.6 4.1
12 6,514 43 1 20.1 -8.1
11.7 6,372 61 4 10.3 1.4
11.2 6,090 55 5 9.1 2.1
11 5,958 40 2 14.9 -3.9
4.3 2,355 12 12 1.5 2.8
2.8 1,500 14 9 2.2 0.6
1.5 808 6 14 1.2 0.3
RBC Capital Markets
CIBC
Scotiabank
TD Securities
National Bank Financial Inc
BMO Capital Markets
JP Morgan
HSBC Bank PLC
Barclays
Desjardins Capital Markets 1.4 750 7 10 1.9 -0.5
100% 54,401 275 55,489 100%
CANADA LOANS MARKET SHARE
CANADA LOANS INDUSTRY BREAKDOWN
2013
MKT SHARE CHG (%)RANK
7
FIRM MKT SHARE
TOTAL
2014 2013
RANK
1
2
3
4
5
RANK MKT SHARE
6
MKT SHARERANK
8
9
10
FIRM MKT SHARE
VOLUME USD
(Mln) DEAL COUNT
2014
CANADA LOANS QUARTERLY VOLUME
MKT SHARE CHG (%)
• 2014 saw a total volume of USD 224.6 billion in Canadian loans, an increase of 3.15% from 2013. 481 issues closed in 2014.
• The top five arrangers by number of deals were RBC Capital Markets, TD Securities, CIBC, National Bank Financial, and Scotiabank.
Deal Activity
Canada Loans Review
TOTAL
2
3
4
5
6
1
8
9
10
7
VOLUME USD
(Mln) DEAL COUNT
0
20
40
60
80
100
120
140
160
180
$0
$10
$20
$30
$40
$50
$60
$70
$80
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Dea
l co
un
t
USD
Mln
s
Volume Deal Count
Energy 34%
Basic Materials
13%Industrial 12%
Financial 10%
Utilities 9%
Consumer,
Non-Cyclical 7%
Other 15%
0%
5%
10%
15%
20%
25%
RBC CapitalMarkets
TD Securities CIBC Scotiabank BMO CapitalMarkets
2014 2013 2012
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FY
20
14
Latin America Loan Mandated Arranger
Mitsubishi UFJ Financial 8.5 3,585 26 1 10.5 -2
Mizuho Financial Group 8 3,360 31 3 9.1 -1.1
JP Morgan 7.1 2,979 17 14 2.3 4.8
BNP Paribas 6.5 2,758 20 21 1.1 5.4
HSBC Bank 6.5 2,734 22 4 8.5 -2
Citi 6 2,519 20 8 4.1 1.9
Sumitomo Mitsui Financial 6 2,512 18 5 6.3 -0.3
BBVA 5.7 2,407 16 2 9.9 -4.2
Natixis 5.2 2,210 17 15 2.1 3.1
Credit Agricole CIB 5.2 2,191 19 12 2.5 2.7
100% 42,209 90 47,924 100%
Latin America Loans Book Runner
Mitsubishi UFJ Financial 11.9 4,237 19 1 13 -1.1
BNP Paribas 9.7 3,464 15 18 1.4 8.3
Citi 9.2 3,298 19 4 6.2 3
HSBC Bank 8.7 3,103 17 5 6 2.7
Mizuho Financial Group 7.8 2,774 22 2 10.6 -2.8
JP Morgan 7.4 2,647 15 15 2.1 5.3
Credit Agricole CIB 5.4 1,935 13 10 3.5 1.9
BBVA 5.2 1,845 6 3 10.1 -4.9
Natixis 4.7 1,683 9 16 2 2.7
Sumitomo Mitsui Financial 4.1 1,476 6 6 5.2 -1.1
100% 35,724 75 44,291 100%
10
2014 2013
MKT SHARE CHG (%)
Deal Activity
FIRM MKT SHARE
VOLUME USD
(Mln) DEAL COUNT
FIRM MKT SHARE
VOLUME USD
(Mln) DEAL COUNT
Latin America Loans Review
5
6
7
8
9
TOTAL
LATIN AMERICA LOANS QUARTERLY VOLUME
RANK MKT SHARERANK
2 LATIN AMERICA LOANS INDUSTRY BREAKDOWN
LATIN AMERICA LOANS MARKET SHARE
8
9
10
1
2
TOTAL
3
4
5
6
7
RANK RANK MKT SHARE
1
3
4
• The four quarters of 2014 saw a total volume of USD 42.2 billion in Latin American loans, a decrease of 12% from 2013. In the current Q4
period USD 15.5 billion was issued, representing a 16.9% year-on-year increase.
2014 2013
MKT SHARE CHG (%)
0
10
20
30
40
50
$0
$5
$10
$15
$20
$25
Q42011
Q42012
Q42013
Q42014
Dea
l Co
un
t
USD
Mln
s
Amount Deal Count
Energy31%
Financial17%
Basic Materials13%
Consumer, Non-cyclical
11%
Industrial
10%
Utilities
6%
Other12%
0%
2%
4%
6%
8%
10%
12%
Mitsubishi UFJFinancial
Mizuho FinancialGroup Inc
JP Morgan BNP Paribas SA HSBC Bank PLC
2014 2013 2012
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FY
20
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DATE DEAL TYPE INDUSTRY
AMOUNT
(USD MLN)
Number of deals 1,700 10/06/2014 Facility Consumer, Cyclical 15,922.7
Volume (USD Mln) 1,214,540
Avg Deal size (USD Mln) 714.4
09/22/2014 MERCK KGAA Facility Cons, Non-cyclical 15,600.0
HSBC Bank PLC
Number of deals 544 06/05/2014 Facility Basic Materials 15,300.0
Volume (USD Mln) 68,712.0
Avg Deal size (USD Mln) 126.3
259,340.0 22.0% 83.5%
188,344.0 16.0% 31.1%
169,374.0 14.4% 41.6%
133,487.0 11.3% 12.1%
113,474.0 9.6% 49.0%
94,143.0 8.0% 9.1%
86,253.0 7.3% -1.7%
72,657.0 6.2% -23.2%
29,260.0 2.5% 87.1%
25,624.0 2.2% 6.2%
EMEA LEVERAGED DEBT QUARTERLY VOLUME
EMEA LOANS INDUSTRY BREAKDOWN
• EMEA total Syndicated Loan volumes in 2014 amounted to USD 1,214.5 billion. This compares to USD 917.6 billion for 2013, a 32.4%
increase. There were over 1,700 Syndicated Loans issued, compared with 1,408 in 2013.
• Sponsor-Led Leveraged Loan volumes totalled USD 114.5 billion, compared with USD 107.1 billion in 2013. Deal numbers for Sponsor-Led
loans were flat year-on-year at 191 issues.
• Two of the most prominent loans of the year (ZF Friedrichshafen and Imperial Tobacco) were underwritten by small MLA groups,
demonstrating the return of banks' appetite to underwrite, with investors pressurised by the continued lack of deal flow.
• HSBC ranked first in the EMEA loans MLA table with 5.7% market share, the first time since 2008 that BNP Paribas (5.5%) did not hold the
top position. BNP Paribas did however retain the top position in the EMEA bookrunner table. Barclays climbed five positions to rank third in
2014 with 4.5% market share.
% OF
TOTAL
% CHNG
YOY
GLENCORE PLC
EMEA LOANS QUARTERLY VOLUME AND SPREAD
LARGEST EMEA DEALS OF 2014
Arrangers:
Arrangers:ABN, ANZ, BAML, BARCS, BBVA, BMO, BNPPAR, BSSA, CACIB, CBA, CITI, COBA, CS, DB, DBS, HSBCL, ING, JPM, LLOYDS, MIZUHO, MS, MUFG, NAB, RABO, RBCCM, RBS, SCOTIA, SG, SMFGRP, STANDC, TDSECS, UBS, UNICRD
RAISED
(USD MLN)
Utilities
Technology
Diversified
INDUSTRY
SUMMARY
BAML, BARCS, BAYLB, BNPPAR, BSSA, CACIB, CITI, COBA, DB, HELABA, HSBCL, ING, INTES,
JPM, LBBW, MIZUHO, MUFG, RBCCM, RBS, SEB, SMFGRP, UBS, UNICRD
Energy
Basic Materials
Industrial
Consumer, Cyclical
Financial
Communications
Consumer, Non-cyclical
Deal Activity
ISSUER
ZF FRIEDRICHSHAFEN AG
TOP ARRANGER BBVA, BAML, BARCS, BAYLB, BNPPAR, CITI, COBA, DB, DZNK, GS, HELABA,, JPM, LBBW, RBC, SEB, SG, UNICRD
Arrangers:
EMEA Loans Review
0
100
200
300
400
500
600
$0$50
$100$150$200$250$300$350$400$450
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Bas
is P
oin
ts
USD
Bln
Investment Grade Leveraged Other Lev Loans Spread at Close (bps) IG Loans Spread at Close (bps)
$0
$20
$40
$60
$80
$100
$120
$140
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
USD
Bln
Leveraged Loans High Yield Bonds
Consumer, Non-cyclical
22%
Industrial16%
Consumer, Cyclical
14%
Financial11%
Communications10%
Energy8%
Other19%
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FY
20
14
EMEA Loans Mandated Arranger EMEA Loans Book Runner
HSBC Bank PLC 1 5.7 68,712 544 2 5.1 0.6 BNP Paribas SA 1 6.8 67,039 353 1 7.2 -0.4
BNP Paribas SA 2 5.5 66,862 528 1 6 -0.5 Deutsche Bank AG 2 6 59,774 200 2 5.5 0.5
Barclays 3 4.5 54,478 385 8 3.3 1.2 HSBC Bank PLC 3 5.1 50,993 321 3 5 0.1
RBS 4 4.2 50,471 353 5 3.9 0.3 Citi 4 4.9 48,655 172 8 3.8 1.1
Credit Agricole CIB 5 4 48,581 328 7 3.5 0.5 Credit Agricole CIB 5 4.6 45,902 209 4 4.6 -
Societe Generale 6 3.8 46,592 360 6 3.8 - Barclays 6 4.4 43,464 220 12 3.2 1.2
Deutsche Bank AG 7 3.6 44,043 300 3 4.5 -0.9 Societe Generale 7 4.4 43,175 227 6 4.4 -
ING Groep NV 8 3.5 42,665 344 12 3 0.5 JP Morgan 8 4.2 42,006 139 9 3.8 0.4
Citi 9 3.5 42,499 244 11 3.1 0.4 RBS 9 4.2 41,278 202 5 4.5 -0.3
JP Morgan 10 3.5 42,156 211 9 3.3 0.2 ING Groep NV 10 3.9 39,188 218 10 3.5 0.4
UniCredit 11 3.4 41,438 320 4 4 -0.6 UniCredit 11 3.7 36,837 205 7 4.4 -0.7
Commerzbank AG 12 3.3 40,197 348 10 3.2 0.1 Commerzbank AG 12 3.5 34,782 237 11 3.4 0.1
Bank of America Merrill Lynch 13 3 36,358 192 13 2.6 0.4 Bank of America Merrill Lynch 13 3.4 33,965 123 13 3 0.4
Banco Santander SA 14 2.5 30,074 265 14 2.2 0.3 Banco Santander SA 14 2.6 26,058 145 18 1.9 0.7
Mitsubishi UFJ Financial 15 2.5 29,822 199 17 1.8 0.7 Natixis 15 2.3 22,794 157 14 2.5 -0.2
Lloyds Bank PLC 16 2.1 25,155 210 15 2 0.1 Mitsubishi UFJ Financial 16 1.9 19,267 106 15 2.2 -0.3
Natixis 17 1.9 23,411 214 16 2 -0.1 Nordea 17 1.8 18,040 96 20 1.5 0.3
Sumitomo Mitsui Financial Group Inc 18 1.7 21,123 133 20 1.5 0.2 Lloyds Bank PLC 18 1.7 17,297 102 16 2 -0.3
Nordea 19 1.6 19,411 139 19 1.5 0.1 Mizuho Financial Group Inc 19 1.6 15,860 69 32 0.9 0.7
Banco Bilbao Vizcaya Argentaria 20 1.5 18,598 154 25 1.2 0.3 Morgan Stanley 20 1.5 15,221 44 22 1.4 0.1
TOTAL 100% 1,214,540 1700 917,553 100% TOTAL 100% 992,196 1248 726,806 100%
EMEA Loans Facility Agent
RBS 1 7.6 92,768 82 7 4.8 2.8
Deutsche Bank AG 2 6.9 84,252 66 1 9.6 -2.7
BNP Paribas SA 3 6.2 75,864 109 3 5.9 0.3
HSBC Bank PLC 4 5.3 65,013 90 9 4.4 0.9
Commerzbank AG 5 5.3 64,813 102 2 6.8 -1.5
Barclays 6 5.2 63,437 69 4 5.7 -0.5
Citi 7 5 60,960 41 5 5.3 -0.3
Societe Generale 8 4.6 55,603 56 10 3.8 0.8
UniCredit 9 4.5 54,677 98 8 4.7 -0.2
ING Groep NV 10 4.4 54,135 74 13 2.5 1.9
Credit Agricole CIB 11 4.1 49,754 65 6 5.3 -1.2
JP Morgan 12 3.5 42,216 21 14 2.3 1.2
Nordea 13 2.6 32,061 59 12 2.8 -0.2
Lloyds Bank PLC 14 2.6 31,707 63 11 2.8 -0.2
Bank of America Merrill Lynch 15 2.5 29,943 32 22 1.3 1.2
Natixis 16 2.1 25,738 38 29 0.8 1.3
DnB ASA 17 1.9 22,617 41 18 1.6 0.3
Rabobank Nederland 18 1.8 21,939 30 17 1.7 0.1
BayernLB 19 1.4 17,138 23 37 0.5 0.9
Danske Markets 20 1.4 16,909 13 30 0.7 0.7
TOTAL 100% 1,218,640 1,718 891,709 100%
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EMEA High Yield Loans Mandated Arranger EMEA High Yield Loans Book Runner
JP Morgan 1 7.4 12,164 42 3 6 1.4 JP Morgan 1 8.5 12,440 37 3 6.9 1.6
Deutsche Bank AG 2 6.7 10,949 64 1 7.7 -1 Deutsche Bank AG 2 7.5 11,056 53 1 8.2 -0.7
BNP Paribas SA 3 6.3 10,302 71 2 7.6 -1.3 Bank of America Merrill Lynch 3 6.5 9,578 22 8 4.2 2.3
Bank of America Merrill Lynch 4 5.9 9,618 24 8 3.8 2.1 BNP Paribas SA 4 6.5 9,502 52 2 8.1 -1.6
Goldman Sachs & Co 5 5 8,181 41 7 4.2 0.8 Goldman Sachs & Co 5 5.6 8,225 35 7 4.3 1.3
ING Groep NV 6 4.5 7,354 50 13 2.9 1.6 Credit Agricole CIB 6 5.5 8,061 34 9 3.6 1.9
HSBC Bank PLC 7 4.3 7,090 62 5 4.9 -0.6 Morgan Stanley 7 4.7 6,862 17 16 2.4 2.3
Morgan Stanley 8 4.3 7,011 18 18 1.9 2.4 HSBC Bank PLC 8 4.6 6,821 43 6 4.6 -
Credit Agricole CIB 9 4.2 6,848 47 11 3.2 1 UniCredit 9 4.5 6,579 35 4 5.7 -1.2
Barclays 10 4 6,595 45 10 3.3 0.7 Barclays 10 4.3 6,398 36 12 2.9 1.4
UniCredit 11 4 6,473 44 4 5.1 -1.1 ING Groep NV 11 4.2 6,249 35 13 2.8 1.4
RBS 12 3.7 6,071 27 6 4.6 -0.9 RBS 12 4 5,921 19 5 5.2 -1.2
Nomura Holdings Inc 13 3.5 5,714 20 19 1.8 1.7 Nomura Holdings Inc 13 3.9 5,759 19 19 2.1 1.8
Societe Generale 14 3 4,901 51 12 3.1 -0.1 Societe Generale 14 3 4,382 32 11 3 -
Credit Suisse 15 2.4 4,009 32 15 2.3 0.1 Credit Suisse 15 2.6 3,825 24 18 2.2 0.4
UBS 16 2.2 3,635 20 16 2.2 - Natixis 16 2.4 3,583 29 14 2.7 -0.3
Natixis 17 2 3,214 33 17 2 - UBS 17 2.2 3,272 16 17 2.4 -0.2
Citi 18 1.9 3,160 29 14 2.6 -0.7 Citi 18 2.1 3,024 24 10 3 -0.9
Lloyds Bank PLC 19 1.5 2,440 24 21 1.5 - Nordea 19 1.7 2,444 8 25 1.1 0.6
Commerzbank AG 20 1.4 2,252 26 9 3.4 -2 Lloyds Bank PLC 20 1.6 2,310 13 20 1.5 0.1
TOTAL 100% 163,679 260 205,071 100% TOTAL 100% 147,132 214 180,786 100%
EMEA Sponsor-led Lev Loans Mandated Arranger EMEA Sponsor-led Leveraged Loans Book Runner
JP Morgan 1 7.8 8,917 25 4 7.1 0.7 JP Morgan 1 8.8 8,807 22 3 8.7 0.1
Bank of America Merrill Lynch 2 6.6 7,518 16 9 3.6 3 Deutsche Bank AG 2 7.7 7,697 34 1 10.6 -2.9
Deutsche Bank AG 3 6.5 7,453 40 1 9 -2.5 Bank of America Merrill Lynch 3 7.6 7,533 15 9 3.9 3.7
BNP Paribas SA 4 5.3 6,123 51 2 8.4 -3.1 Credit Agricole CIB 4 5.7 5,716 24 12 3 2.7
UniCredit 5 4.7 5,426 35 5 6.5 -1.8 UniCredit 5 5.6 5,581 28 4 8.5 -2.9
ING Groep NV 6 4.5 5,096 37 11 3 1.5 BNP Paribas SA 6 5.2 5,155 35 2 9.3 -4.1
Goldman Sachs & Co 7 4.4 5,081 31 3 7.2 -2.8 Goldman Sachs & Co 7 5 4,992 27 5 7.2 -2.2
Credit Agricole CIB 8 4.4 5,014 37 10 3.1 1.3 Morgan Stanley 8 4.6 4,593 9 19 1.9 2.7
Morgan Stanley 9 4.3 4,945 10 19 1.7 2.6 HSBC Bank PLC 9 4.6 4,588 28 6 5.1 -0.5
HSBC Bank PLC 10 4.1 4,744 41 6 4.6 -0.5 Nomura Holdings Inc 10 4.5 4,464 15 10 3.3 1.2
Nomura Holdings Inc 11 3.9 4,419 16 12 3 0.9 ING Groep NV 11 4.3 4,322 26 11 3 1.3
RBS 12 3.5 4,043 16 7 4.1 -0.6 RBS 12 4 3,938 11 7 4.5 -0.5
Societe Generale 13 3 3,442 38 16 2.2 0.8 Societe Generale 13 3.3 3,254 25 14 2.3 1
Barclays 14 2.7 3,115 23 14 2.6 0.1 Barclays 14 2.6 2,600 17 13 2.8 -0.2
UBS 15 2 2,293 16 8 3.8 -1.8 Natixis 15 2.4 2,387 22 22 1 1.4
Credit Suisse 16 2 2,285 22 15 2.4 -0.4 Credit Suisse 16 2.2 2,178 17 15 2.2 -
Lloyds Bank PLC 17 1.8 2,055 18 17 1.9 -0.1 Nordea 17 2.1 2,061 6 20 1.5 0.6
Natixis 18 1.8 2,044 24 22 1 0.8 Lloyds Bank PLC 18 2 2,013 11 18 2 -
Nordea 19 1.6 1,855 8 20 1.7 -0.1 UBS 19 1.9 1,869 12 8 3.9 -2
Citi 20 1.5 1,771 14 36 0.6 0.9 Citi 20 1.6 1,575 10 26 0.7 0.9
TOTAL 100% 114,499 191 107,133 100% TOTAL 100% 99,608 156 97,060 100%
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EMEA Investment Grade Loans Mandated Arranger EMEA Investment Grade Loans Book Runner
Barclays 1 5.8 25,931 131 6 4.5 1.3 Deutsche Bank AG 1 7.3 28,805 62 3 5.2 2.1
Citi 2 5.6 25,197 112 2 5.4 0.2 BNP Paribas SA 2 7.3 28,663 106 1 6.6 0.7
BNP Paribas SA 3 5.4 24,395 148 1 5.8 -0.4 Barclays 3 5.8 22,638 87 6 4.7 1.1
HSBC Bank PLC 4 5.2 23,410 149 4 4.8 0.4 JP Morgan 4 5.7 22,466 58 11 3.8 1.9
JP Morgan 5 4.8 21,692 94 8 3.9 0.9 Citi 5 5.7 22,282 75 2 6.2 -0.5
RBS 6 4.8 21,337 123 5 4.5 0.3 Societe Generale 6 5.5 21,503 88 5 4.9 0.6
Societe Generale 7 4.3 19,348 109 7 4.5 -0.2 RBS 7 4.9 19,388 79 7 4.6 0.3
Commerzbank AG 8 3.9 17,478 102 12 3.2 0.7 HSBC Bank PLC 8 4.9 19,332 99 4 5.2 -0.3
Deutsche Bank AG 9 3.8 17,002 88 3 4.9 -1.1 Bank of America Merrill Lynch 9 4.3 16,899 53 8 4.1 0.2
Mitsubishi UFJ Financial 10 3.7 16,484 93 11 3.7 - Banco Santander SA 10 4 15,611 54 15 2.6 1.4
Bank of America Merrill Lynch 11 3.7 16,437 83 10 3.7 - Commerzbank AG 11 3.5 13,774 65 13 3.5 -
Credit Agricole CIB 12 3.4 15,373 90 9 3.7 -0.3 Credit Agricole CIB 12 3.3 12,775 64 10 4.1 -0.8
UniCredit 13 3.4 15,262 77 13 3.1 0.3 ING Groep NV 13 3 11,631 60 12 3.8 -0.8
Banco Santander SA 14 3.3 15,014 86 15 2.7 0.6 Mitsubishi UFJ Financial 14 3 11,623 59 9 4.1 -1.1
ING Groep NV 15 2.8 12,674 88 14 2.8 - UniCredit 15 2.8 11,075 49 14 3.2 -0.4
Mizuho Financial Group Inc 16 2.3 10,384 61 17 2.2 0.1 Mizuho Financial Group Inc 16 2.7 10,575 36 19 1.9 0.8
Sumitomo Mitsui Financial Group Inc 17 2.1 9,519 55 16 2.6 -0.5 Credit Suisse 17 1.8 7,194 18 25 1.2 0.6
Banco Bilbao Vizcaya Argentaria 18 2 8,802 45 22 1.7 0.3 Natixis 18 1.7 6,682 37 17 2.3 -0.6
Lloyds Bank PLC 19 1.9 8,673 54 20 1.9 - Morgan Stanley 19 1.6 6,354 16 23 1.4 0.2
Credit Suisse 20 1.9 8,314 31 27 1.2 0.7 Banco Bilbao Vizcaya Argentaria 20 1.5 6,042 27 18 2.1 -0.6
TOTAL 100% 448,617 241 312,072 100% TOTAL 100% 392,366 184 258,932 100%
Western Europe Loans Mandated Arranger Western Europe Loans Book Runner
BNP Paribas SA 1 5.8 61,304 477 1 6.6 -0.8 BNP Paribas SA 1 6.9 61,697 326 1 7.5 -0.6
HSBC Bank PLC 2 5.8 61,259 467 2 5.2 0.6 Deutsche Bank AG 2 6.4 57,478 181 2 5.8 0.6
Barclays 3 4.8 50,417 343 10 3.4 1.4 HSBC Bank PLC 3 5.2 46,533 284 3 5.1 0.1
RBS 4 4.6 48,441 335 4 4.6 - Credit Agricole CIB 4 5 44,652 202 5 4.9 0.1
Credit Agricole CIB 5 4.2 44,280 298 6 3.8 0.4 Citi 5 4.6 41,451 132 10 3.7 0.9
Deutsche Bank AG 6 3.9 40,784 266 3 5 -1.1 Barclays 6 4.5 40,386 199 12 3.3 1.2
Societe Generale 7 3.8 39,826 295 7 3.8 - RBS 7 4.5 39,952 193 4 5 -0.5
JP Morgan 8 3.7 39,611 183 9 3.4 0.3 JP Morgan 8 4.5 39,809 121 9 3.7 0.8
Commerzbank AG 9 3.6 37,673 303 8 3.6 - Societe Generale 9 4.4 39,438 204 7 4.4 -
ING Groep NV 10 3.5 37,206 287 12 2.9 0.6 ING Groep NV 10 3.9 35,194 189 11 3.5 0.4
UniCredit 11 3.5 36,723 274 5 4.2 -0.7 UniCredit 11 3.8 33,791 187 6 4.5 -0.7
Citi 12 3.3 35,190 188 11 3.1 0.2 Commerzbank AG 12 3.7 33,178 210 8 3.7 -
Bank of America Merrill Lynch 13 3.2 34,123 165 13 2.7 0.5 Bank of America Merrill Lynch 13 3.7 33,068 111 13 2.9 0.8
Banco Santander SA 14 2.8 29,451 259 14 2.7 0.1 Banco Santander SA 14 2.9 25,831 144 17 2.1 0.8
Mitsubishi UFJ Financial 15 2.4 25,467 154 19 1.8 0.6 Natixis 15 2.4 21,494 147 14 2.5 -0.1
Lloyds Bank PLC 16 2.4 25,019 208 15 2.5 -0.1 Lloyds Bank PLC 16 1.9 17,222 101 15 2.2 -0.3
Natixis 17 2 20,881 188 16 2 - Nordea 17 1.9 17,089 90 22 1.5 0.4
Banco Bilbao Vizcaya Argentaria 18 1.7 18,166 149 22 1.5 0.2 Mitsubishi UFJ Financial 18 1.9 16,900 89 18 2 -0.1
Sumitomo Mitsui Financial Group Inc 19 1.7 18,013 100 24 1.3 0.4 Morgan Stanley 19 1.7 15,010 41 21 1.6 0.1
Nordea 20 1.7 18,006 129 20 1.6 0.1 Mizuho Financial Group Inc 20 1.7 14,737 56 35 0.8 0.9
TOTAL 100% 1,057,910 1,384 732,173 100% TOTAL 100% 892,770 1,042 631,994 100%
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Benelux Loans Mandated Arranger Benelux Loans Book Runner
ING Groep NV 1 7.6 7,425 90 2 6.8 0.8 ING Groep NV 1 9.1 8,422 70 2 8.7 0.4
BNP Paribas SA 2 6.8 6,660 67 1 9.9 -3.1 BNP Paribas SA 2 7.5 6,970 51 1 9.8 -2.3
Deutsche Bank AG 3 6.8 6,647 47 4 5.7 1.1 Deutsche Bank AG 3 6.9 6,411 35 6 5.8 1.1
Bank of America Merrill Lynch 4 6 5,888 20 13 2.4 3.6 Bank of America Merrill Lynch 4 6.4 5,922 18 11 2.9 3.5
Rabobank Nederland 5 4.6 4,485 54 6 4.7 -0.1 Rabobank Nederland 5 5.2 4,824 43 4 7.2 -2
JP Morgan 6 4.5 4,392 25 16 2.3 2.2 RBS 6 4.8 4,441 24 3 8.4 -3.6
RBS 7 4.3 4,213 29 3 6.2 -1.9 Commerzbank AG 7 4.5 4,188 20 10 3.7 0.8
Commerzbank AG 8 4.2 4,106 30 11 3 1.2 JP Morgan 8 4.3 3,988 18 19 1.6 2.7
Citi 9 3.9 3,836 25 5 4.9 -1 ABN Amro Bank NV 9 4.2 3,833 38 8 4.3 -0.1
Morgan Stanley 10 3.6 3,480 11 15 2.4 1.2 Citi 10 3.9 3,599 19 5 6.7 -2.8
ABN Amro Bank NV 11 3.4 3,361 48 7 4.2 -0.8 HSBC Bank PLC 11 3.7 3,454 28 9 4.2 -0.5
HSBC Bank PLC 12 3.3 3,216 42 8 4.2 -0.9 Morgan Stanley 12 3.6 3,358 8 12 2.6 1
Barclays 13 2.8 2,758 34 26 1.4 1.4 Societe Generale 13 3 2,809 23 7 4.3 -1.3
Societe Generale 14 2.7 2,644 34 9 3.5 -0.8 UniCredit 14 2.7 2,504 19 28 0.8 1.9
Credit Agricole CIB 15 2.4 2,366 26 12 2.6 -0.2 Credit Agricole CIB 15 2.5 2,332 16 15 2 0.5
UniCredit 16 2.4 2,304 26 18 1.8 0.6 Barclays 16 2.5 2,327 25 13 2.2 0.3
Goldman Sachs & Co 17 2.3 2,226 13 10 3.3 -1 Goldman Sachs & Co 17 2.3 2,133 11 14 2.1 0.2
Mitsubishi UFJ Financial 18 2 1,956 22 20 1.7 0.3 Natixis 18 2.1 1,894 19 18 1.8 0.3
Credit Suisse 19 2 1,914 21 17 2.1 -0.1 UBS 19 1.9 1,769 9 20 1.5 0.4
UBS 20 1.9 1,889 14 19 1.8 0.1 Mitsubishi UFJ Financial 20 1.8 1,696 16 23 1.1 0.7
TOTAL 100% 97,853 161 69,858 100% TOTAL 100% 92,313 144 57,650 100%
Central & Eastern Europe Loans Mandated Arranger Central & Eastern Europe Loans Book Runner
UniCredit 1 7.9 3,066 38 3 4.9 3 ING Groep NV 1 11.2 2,262 20 6 5.6 5.6
Societe Generale 2 6.8 2,612 33 11 3 3.8 UniCredit 2 10.6 2,128 16 5 5.7 4.9
ING Groep NV 3 6.3 2,451 34 4 4 2.3 Citi 3 8.5 1,708 15 1 8 0.5
Citi 4 5.7 2,202 24 9 3.2 2.5 Societe Generale 4 7.2 1,449 12 8 4.6 2.6
HSBC Bank PLC 5 4.3 1,658 26 8 3.2 1.1 Mitsubishi UFJ Financial 5 4.1 817 4 32 0.9 3.2
BNP Paribas SA 6 4.2 1,617 23 12 3 1.2 BNP Paribas SA 6 4 801 10 3 6 -2
Sberbank CIB CJSC 7 3.6 1,373 7 10 3.1 0.5 Standard Chartered Bank 7 3.9 778 13 12 3.3 0.6
Mitsubishi UFJ Financial 8 2.8 1,073 15 31 1.1 1.7 HSBC Bank PLC 8 3.1 625 10 15 2.4 0.7
Standard Chartered Bank 9 2.6 999 22 17 2.3 0.3 RBS 9 3.1 617 4 13 3.3 -0.2
Credit Agricole CIB 10 2.6 987 9 33 1 1.6 Deutsche Bank AG 10 3 610 9 4 6 -3
Deutsche Bank AG 11 2.5 980 16 18 2.2 0.3 KBC Group NV 11 2.5 496 3 11 3.3 -0.8
Commerzbank AG 12 2.5 967 19 15 2.8 -0.3 Credit Agricole CIB 12 2.4 485 3 18 2 0.4
Erste Group Bank 13 2.3 894 17 13 2.9 -0.6 Commerzbank AG 13 2.2 450 10 20 1.5 0.7
RBS 14 2.3 883 9 25 1.4 0.9 PKO Bank Polski SA 14 2 406 2 46 0.3 1.7
Wells Fargo & Co 15 2.1 800 16 21 1.8 0.3 Bank of America Merrill Lynch 15 2 404 7 25 1 1
Bank of America Merrill Lynch 16 2 784 16 20 1.9 0.1 European Bank for Reconstruct & Dev 16 2 399 5 14 2.9 -0.9
Barclays 17 1.9 749 16 22 1.7 0.2 Mizuho Financial Group Inc 17 1.9 391 6 31 0.9 1
European Bank for Reconstruct & Dev 18 1.8 692 9 32 1 0.8 Wells Fargo & Co 18 1.9 384 8 16 2.2 -0.3
Mizuho Financial Group Inc 19 1.7 671 12 23 1.5 0.2 Barclays 19 1.8 356 7 19 1.7 0.1
Turkiye Garanti Bankasi AS 20 1.6 633 6 2 5.8 -4.2 Intesa Sanpaolo SpA 20 1.7 347 2 29 0.9 0.8
TOTAL 100% 38,610 87 47,636 100% TOTAL 100% 20,154 46 18,571 100%
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Russia & CIS Loans Mandated Arranger Russia & CIS Loans Book Runner
Societe Generale 1 13.4 866 14 4 5.2 8.2 Societe Generale 1 28.1 960 6 3 7 21.1
Citi 2 11 709 8 12 3.9 7.1 ING Groep NV 2 15.8 540 6 4 6.7 9.1
ING Groep NV 3 10.4 674 13 2 6.2 4.2 Deutsche Bank AG 3 11.2 381 2 18 1.9 9.3
UniCredit 4 6.9 445 7 1 7 -0.1 Citi 4 8.8 299 5 10 4.4 4.4
JP Morgan 5 6.8 437 5 16 3.2 3.6 European Bank for Reconstruct & Dev 5 6 204 6 20 1.3 4.7
Raiffeisen Bank International Group 6 5.6 360 13 14 3.5 2.1 Nordea 6 5.5 189 2 12 4.1 1.4
HSBC Bank PLC 7 4.7 305 5 21 2.1 2.6 Raiffeisen Bank International Group 7 3.9 133 5 25 0.7 3.2
Nordea 8 4.4 281 5 11 3.9 0.5 Alfa Bank 8 3 101 5 22 1.2 1.8
Credit Agricole CIB 9 4.2 273 3 13 3.8 0.4 Commerzbank AG 9 2.7 92 4 19 1.4 1.3
European Bank for Reconstruct & Dev 10 3.5 227 7 27 0.8 2.7 UniCredit 10 2.4 83 1 1 7.6 -5.2
Sberbank CIB CJSC 11 3 193 4 20 2.3 0.7 JP Morgan 11 2 70 3 13 4 -2
Natixis 12 2.7 172 1 8 4.1 -1.4 VTB Capital 12 1.7 57 2 27 0.5 1.2
Commerzbank AG 13 2.6 170 7 24 1.7 0.9 HSBC Bank PLC 13 1.7 57 2 17 2.1 -0.4
Mitsubishi UFJ Financial 14 2.6 165 1 6 4.4 -1.8 Sberbank CIB CJSC 14 1.2 41 1 35 0.1 1.1
Deutsche Bank AG 15 2.3 146 2 22 2.1 0.2 Al Hilal Bank 15 1 34 1 - - -
Alfa Bank 16 1.8 118 7 25 1.2 0.6 Barwa Bank 15 1 34 1 - - -
Bank of China 17 1.7 108 1 15 3.3 -1.6 Dubai Islamic Bank 15 1 34 1 - - -
VTB Capital 18 1.5 98 4 17 2.9 -1.4 Noor Bank 15 1 34 1 - - -
BNP Paribas SA 19 1.3 83 1 5 4.6 -3.3 Novikombank 19 0.8 27 1 - - -
Credit Suisse 19 1.3 83 1 26 1 0.3 Promsvyaz Bank 19 0.8 27 1 - - -
TOTAL 100% 6,459 39 31,579 100% TOTAL 100% 3,414 24 20,408 100%
MENA Loans Mandated Arranger MENA Loans Book Runner
HSBC Bank PLC 1 5.6 3,681 35 1 9.4 -3.8 Citi 1 7.3 3,090 9 7 3.6 3.7
First Gulf Bank PJSC 2 4.7 3,121 25 34 1 3.7 HSBC Bank PLC 2 7 2,980 18 1 8.8 -1.8
National Bank of Abu Dhabi 3 4.5 2,992 25 11 2.8 1.7 First Gulf Bank PJSC 3 5.8 2,474 14 25 1.5 4.3
Samba Capital 4 4.1 2,696 15 6 3.7 0.4 Samba Capital 4 4.8 2,042 3 26 1.3 3.5
Emirates NBD PJSC 5 3.5 2,337 18 3 4.2 -0.7 Mashreqbank PSC 5 4.5 1,915 10 9 3.4 1.1
Citi 6 3.2 2,104 13 7 3.2 - Emirates NBD PJSC 6 4.3 1,848 12 2 7.3 -3
Abu Dhabi Commercial Bank 7 3.2 2,103 15 4 4.1 -0.9 Standard Chartered Bank 7 4.1 1,733 10 4 5.1 -1
Mashreqbank PSC 8 2.8 1,847 16 8 3.2 -0.4 Barwa Bank 8 3.6 1,525 3 - - -
Dubai Islamic Bank 9 2.8 1,822 11 24 1.2 1.6 Dubai Islamic Bank 9 3.2 1,363 8 15 2.8 0.4
Standard Chartered Bank 10 2.7 1,805 16 2 5.3 -2.6 National Bank of Abu Dhabi 10 3.1 1,330 9 24 1.6 1.5
Credit Agricole CIB 11 2.7 1,782 14 16 1.9 0.8 National Bank of Egypt 11 2.8 1,208 9 13 3.1 -0.3
Mitsubishi UFJ Financial 12 2.4 1,589 16 14 2.2 0.2 Arab African International Bank 12 2.5 1,079 8 41 0.5 2
Commercial International Bank of Egypt 13 2.4 1,586 15 76 0.2 2.2 Noor Bank 13 2.5 1,054 6 11 3.3 -0.8
BNP Paribas SA 14 2.3 1,498 15 10 2.8 -0.5 Banque Misr SAE 14 2.4 1,019 9 18 2.2 0.2
Banque Saudi Fransi 15 2.2 1,469 6 13 2.3 -0.1 Abu Dhabi Commercial Bank 15 2.3 959 6 5 4.8 -2.5
Qatar National Bank 16 2.2 1,460 15 19 1.6 0.6 Qatar National Bank 16 2.2 948 8 6 3.7 -1.5
Sumitomo Mitsui Financial Group Inc 17 2.2 1,454 14 30 1 1.2 Barclays 17 2.2 923 6 22 1.9 0.3
Deutsche Bank AG 18 1.9 1,260 11 9 3.1 -1.2 Bank Muscat 18 2 841 2 - - -
National Commercial Bank 19 1.8 1,196 6 25 1.1 0.7 Commercial International Bank of Egypt 19 1.8 777 6 - - -
Mizuho Financial Group Inc 20 1.8 1,158 12 48 0.5 1.3 Commercial Bank of Qatar 20 1.7 716 3 - - -
TOTAL 100% 65,930 120 52,749 100% TOTAL 100% 42,532 85 27,798 100%
FIRM
2014 2013
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Sub-Sahara Loans Mandated Arranger Sub-Sahara Loans Book Runner
Standard Chartered Bank 1 8.5 2,624 25 1 7.6 0.9 Standard Chartered Bank 1 16.8 4,262 19 1 13.2 3.6
Standard Bank of South Africa 2 8 2,480 24 4 5.8 2.2 BNP Paribas SA 2 14 3,552 10 7 4.6 9.4
Barclays 3 7.7 2,381 17 5 5.6 2.1 Standard Bank of South Africa 3 7.1 1,808 12 2 11.1 -4
BNP Paribas SA 4 5.8 1,783 12 6 4.8 1 Barclays 4 6.6 1,676 8 10 3.5 3.1
Firstrand Bank Ltd 5 4.7 1,460 17 2 6.5 -1.8 Citi 5 5.6 1,427 11 17 1.9 3.7
Ecobank Transnational Inc 6 4.5 1,389 4 8 4.4 0.1 Ecobank Transnational Inc 6 5.3 1,360 3 5 6.4 -1.1
Citi 7 4.3 1,337 11 11 2.9 1.4 Firstrand Bank Ltd 7 4.7 1,198 11 4 7.5 -2.8
HSBC Bank PLC 8 3.9 1,201 11 9 3 0.9 JP Morgan 8 4.4 1,111 5 35 0.2 4.2
Mitsubishi UFJ Financial 9 3.5 1,087 13 25 1.3 2.2 Natixis 9 2.9 738 4 8 4.4 -1.5
Nedbank Capital 10 3.4 1,057 12 10 3 0.4 Nordea 10 2.7 696 4 - - -
Societe Generale 11 3.4 1,040 6 7 4.5 -1.1 Sumitomo Mitsui Financial Group Inc 11 2.4 612 7 25 0.6 1.8
ING Groep NV 12 3.2 975 8 15 2.1 1.1 Mitsubishi UFJ Financial 12 2.4 608 7 6 5.3 -2.9
Sumitomo Mitsui Financial Group Inc 13 2.8 878 9 12 2.5 0.3 SEB 13 2.3 590 3 31 0.3 2
Credit Agricole CIB 14 2.7 830 4 26 1.2 1.5 HSBC Bank PLC 14 2.2 562 7 15 2.2 -
JP Morgan 15 2.4 734 5 31 0.9 1.5 Commerzbank AG 15 2.2 559 9 12 3.2 -1
Natixis 16 2.3 721 6 13 2.4 -0.1 Credit Suisse 16 1.9 480 1 - - -
Commerzbank AG 17 2.2 684 13 17 2 0.2 Mizuho Financial Group Inc 17 1.8 463 5 - - -
Nordea 18 2 629 4 68 0.1 1.9 Kreditanstalt fuer Wiederaufbau 18 1.6 396 3 - - -
African Export-Import Bank 19 2 615 4 40 0.5 1.5 Deutsche Bank AG 19 1.5 384 3 11 3.4 -1.9
SEB 20 1.8 566 4 58 0.2 1.6 Mashreqbank PSC 20 1 252 5 26 0.6 0.4
TOTAL 100% 30,813 70 27,098 100% TOTAL 100% 25,440 51 14,780 100%
EMEA Islamic Loans Mandated Arranger EMEA Islamic Loans Book Runner
Dubai Islamic Bank 1 11.7 1,794 12 12 3.6 8.1 Samba Capital 1 13.9 1,843 2 26 0.6 13.3
Samba Capital 2 9.1 1,389 5 6 4.5 4.6 Barwa Bank 2 12.6 1,680 6 17 1.5 11.1
First Gulf Bank PJSC 3 7.9 1,209 8 21 1.5 6.4 Dubai Islamic Bank 3 10.1 1,346 9 9 5.8 4.3
Noor Bank 4 7.1 1,092 9 1 8.2 -1.1 Noor Bank 4 9.2 1,225 9 1 11.9 -2.7
Abu Dhabi Islamic Bank 5 7 1,075 6 13 2.7 4.3 Mashreqbank PSC 5 6 794 4 10 5.5 0.5
National Commercial Bank 6 7 1,063 5 15 2.4 4.6 First Gulf Bank PJSC 6 5.6 746 5 26 0.6 5
Banque Saudi Fransi 7 5.3 811 2 4 5.1 0.2 HSBC Bank PLC 7 5.3 704 2 12 4.1 1.2
National Bank of Abu Dhabi 8 5 764 4 43 0.4 4.6 Abu Dhabi Islamic Bank 8 4.8 643 4 3 8.2 -3.4
Barwa Bank 9 3.9 598 6 11 3.6 0.3 Banque Saudi Fransi 9 4.8 640 1 5 5.9 -1.1
Mashreqbank PSC 10 3.1 470 4 8 3.9 -0.8 National Commercial Bank 9 4.8 640 1 - - -
Citi 11 2.9 448 3 24 0.9 2 Citi 11 3.4 459 3 18 1.5 1.9
Qatar International Islamic Bank 12 2.7 417 1 - - - Emirates NBD PJSC 12 2.8 379 5 2 9 -6.2
Commercial Bank of Dubai 13 2.7 408 4 30 0.9 1.8 Commercial Bank of Dubai 13 2.5 337 3 14 1.8 0.7
HSBC Bank PLC 14 2.6 393 4 2 7.8 -5.2 National Bank of Abu Dhabi 14 2.4 313 2 25 0.6 1.8
Emirates NBD PJSC 15 2.4 360 5 3 6.6 -4.2 Abu Dhabi Commercial Bank 15 2.3 312 4 11 4.7 -2.4
Riyad Bank 16 2 304 2 25 0.9 1.1 Standard Chartered Bank 16 2.3 303 3 4 6.8 -4.5
Abu Dhabi Commercial Bank 17 1.9 293 4 7 4.3 -2.4 Arab Banking Corp 17 1.5 197 4 13 3.3 -1.8
Arab Banking Corp 18 1.4 211 5 17 2 -0.6 Abu Dhabi Islamic Bank/Egypt 18 1.2 157 3 21 1.1 0.1
Standard Chartered Bank 19 1.3 196 3 5 4.9 -3.6 Al Hilal Bank 19 1.2 155 3 15 1.7 -0.5
Saudi Investment Bank/The 20 1.1 171 1 25 0.9 0.2 Bank Audi SAL 20 0.7 97 2 16 1.6 -0.9
TOTAL 100% 15,292 36 14,723 100% TOTAL 100% 13,301 31 9,803 100%
FIRM
2014 2013
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DATE DEAL TYPE INDUSTRY
AMOUNT
(USD MLN)
Number of deals 1,493 03/20/2014 Facility Basic Materials 7,600.0
Volume (USD Mln) 524,158.0
Avg Deal size (USD Mln) 351.1
07/22/2014 Term Basic Materials 6,957.0
State Bank of India
Number of deals 103 12/09/2014 Facility Utilities 6,104.7
Volume (USD Mln) 43,857.2
Avg Deal size (USD Mln) 425.8
ROY HILL HOLDINGS PTY LTD
LIAONING HONGYANHE NUCLEA
HK ELECTRIC INVESTMENT
PEGATRON CORP
TATA STEEL LTD
YOUNGCHUN-SANGJU HIGHWAY
OVERSEA-CHINESE BANKING
SAPURAKENCANA TMC SDN BHD
TRANS RETAIL PT
CP ALL PCL
ROY HILL HOLDINGS PTY LTD
DATE
ASIA PACIFIC EX-JAPAN LOANS IND BREAKDOWN
Thailand
12/01/2014
01/10/2014
08/05/2014
07/10/2014
03/25/2014
03/20/2014Indonesia
Hong Kong
India
2,514.6
ANZ, BAML, BARCS, BOC, CBA, DBS, DNBK, HSBCL, JPM, MIZUHO, MUFG, NAB, OVCHBC,
RBCCM, RBS, SCOTIA, SMFGRP, WESTPC
Australia
China
DEAL SIZE USD MLN
7,600.0
3,606.9
CNTRY
LARGEST ASIA PACIFIC EX-JAPAN DEALS OF 2014 BY COUNTRY
LARGEST ASIA PACIFIC EX-JAPAN DEALS OF 2014
ASIA PACIFIC EX-JAPAN LOANS QUARTERLY VOLUME
ASIA PACIFIC EX-JAPAN LOANS MARKET SHARE
4,771.6
1,300.0
3,787.1
1,401.1
4,990.8
5,509.2
1,275.0
Asia Pacific ex-Japan Loans Review
BORROWERSUMMARY
BORROWER
06/20/2014
03/31/2014
03/18/2014
Deal Activity
03/20/2014
Taiwan
Korea
Malaysia
• Asia Pacific ex-Japan syndicated loans volume in 2014 increased by 22%, totaling USD 524.2 billion compared to 2013. A total of 1,493
deals were signed, a decrease of 34 deals compared to last year.
• Australia & New Zealand syndicated loans volume totaled USD 126.0 billion in 2014, an increase of 9% from 2013.
• The largest deal in the Asia Pacific ex-Japan region was the USD 7.6 billion project finance facility for Roy Hill Iron Ore Project. The deal
includes USD 5.5 billion from commercial banks and USD 2.1 billion from five export credit agencies.
• State Bank of India topped the Asia Pacific ex-Japan syndicated loan league table with 8.4%. Bank of China & ANZ Banking Group ranked
second and third with 7.3% and 5.8% market share respectively.
Singapore
Arrangers:ANZ, BNPPAR, BOC, CBA, HSBCL, ICBKC, ING, KOFINA, MIZUHO, MUFG, NAB, OVCHBC, SG,
SMFGRP, WESTPC
MMG LTD
Arrangers: CDB
ORIGIN ENERGY LIMITED
Arrangers:
TOP ARRANGER
0
50
100
150
200
250
300
350
400
450
$0
$20
$40
$60
$80
$100
$120
$140
$160
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Dea
l Co
un
t
USD
Bln
Volume Deal Count
Financial 26%
Industrial 17%
Consumer,
Non-cyclical 10%
Utilities 10%
Basic
Materials 9%
Energy 9%
Other 19%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
State Bank ofIndia
Bank of China ANZ BankingGroup
HSBC Bank PLC CommonwealthBank Australia
2014 2013 2012
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Asia ex-Japan Loans Mandated Arranger Asia ex-Japan Loans Book Runner
State Bank of India 1 11 43,857 103 1 7.3 3.7 State Bank of India 1 15.4 40,259 85 1 10.9 4.5
Bank of China 2 9.3 37,010 214 3 4.1 5.2 Bank of China 2 12.8 33,527 159 4 3.5 9.3
HSBC Bank PLC 3 4.5 17,715 190 4 4 0.5 Standard Chartered Bank 3 4.6 12,114 97 2 6 -1.4
Standard Chartered Bank 4 3.7 14,879 165 2 4.5 -0.8 HSBC Bank PLC 4 3.2 8,499 70 5 3.4 -0.2
DBS Group Holdings Ltd 5 3.5 13,997 144 5 3.5 - DBS Group Holdings Ltd 5 3 7,770 60 6 3.3 -0.3
China Development Bank 6 3.2 12,589 17 50 0.5 2.7 Deutsche Bank AG 6 2.5 6,470 39 8 2.6 -0.1
Sumitomo Mitsui Financial Group Inc 7 3 11,997 131 6 3.2 -0.2 Sumitomo Mitsui Financial Group Inc 7 2.3 6,135 43 15 2.1 0.2
Oversea-Chinese Banking Corp 8 2.4 9,367 81 10 2.4 - Mizuho Financial Group Inc 8 2.2 5,878 54 12 2.5 -0.3
Mizuho Financial Group Inc 9 2.4 9,366 115 8 2.7 -0.3 ANZ Banking Group 9 2.2 5,772 54 10 2.5 -0.3
Mitsubishi UFJ Financial 10 2.3 9,223 107 9 2.6 -0.3 Bank of Taiwan 10 2.2 5,699 70 11 2.5 -0.3
United Overseas Bank 11 2.2 8,929 91 15 1.7 0.5 Korea Development Bank 11 2.1 5,575 38 3 4 -1.9
ANZ Banking Group 12 2.2 8,733 117 11 2.3 -0.1 Axis Bank Ltd 12 1.9 5,080 26 7 2.8 -0.9
Korea Development Bank 13 1.8 7,100 58 7 2.9 -1.1 BNP Paribas SA 13 1.8 4,726 42 19 1.5 0.3
Deutsche Bank AG 14 1.7 6,713 60 14 1.9 -0.2 Maybank 14 1.7 4,406 19 36 0.8 0.9
BNP Paribas SA 15 1.6 6,531 83 23 1.3 0.3 Mitsubishi UFJ Financial 15 1.6 4,161 41 9 2.6 -1
Maybank 16 1.4 5,621 50 21 1.4 - China Development Bank 16 1.5 3,938 8 62 0.3 1.2
China Construction Bank 17 1.4 5,583 41 38 0.8 0.6 Oversea-Chinese Banking Corp 17 1.5 3,930 24 33 0.9 0.6
Shinhan Financial Group Co Ltd 18 1.3 5,313 32 25 1.1 0.2 Industrial & Comm Bank of China 18 1.4 3,780 20 30 1 0.4
Industrial & Comm Bank of China 19 1.3 5,270 61 16 1.7 -0.4 United Overseas Bank 19 1.4 3,743 28 24 1.2 0.2
KB Financial Group 20 1.2 4,724 24 32 1 0.2 Shinhan Financial Group Co Ltd 20 1.4 3,603 21 18 1.7 -0.3
TOTAL 100% 397,802 1,225 312,875 100% TOTAL 100% 261,681 934 202,701 100%
Asia ex-Japan G3 Loans Mandated Arranger Asia ex-Japan G3 Loans Book Runner
HSBC Bank PLC 1 5.8 10,446 130 4 4.4 1.4 State Bank of India 1 10 10,655 27 10 4.1 5.9
Standard Chartered Bank 2 4.9 8,855 111 1 5.4 -0.5 Standard Chartered Bank 2 6.7 7,162 69 1 7.3 -0.6
China Development Bank 3 4.7 8,600 7 44 0.7 4 HSBC Bank PLC 3 5.2 5,507 51 6 4.4 0.8
State Bank of India 4 4.6 8,400 30 11 2.6 2 Deutsche Bank AG 4 4.7 4,994 37 4 4.7 -
Sumitomo Mitsui Financial Group Inc 5 3.7 6,663 94 2 5 -1.3 ANZ Banking Group 5 4.3 4,643 47 5 4.5 -0.2
ANZ Banking Group 6 3.5 6,406 93 7 3.5 - BNP Paribas SA 6 3.8 4,092 35 12 2.9 0.9
Mitsubishi UFJ Financial 7 3.5 6,403 84 6 4.1 -0.6 DBS Group Holdings Ltd 7 3.7 4,000 44 2 5.3 -1.6
DBS Group Holdings Ltd 8 3.5 6,397 82 3 4.5 -1 Mizuho Financial Group Inc 8 3.6 3,806 35 8 4.3 -0.7
Mizuho Financial Group Inc 9 3.4 6,164 84 5 4.3 -0.9 Sumitomo Mitsui Financial Group Inc 9 3.2 3,416 29 9 4.2 -1
BNP Paribas SA 10 2.8 5,090 66 14 2.3 0.5 Credit Suisse 10 2.8 3,017 17 20 1.3 1.5
Deutsche Bank AG 11 2.7 4,892 57 8 3.2 -0.5 RBS 11 2.8 2,995 29 7 4.3 -1.5
Bank of China 12 2.6 4,714 49 10 2.8 -0.2 Mitsubishi UFJ Financial 12 2.8 2,961 33 3 4.9 -2.1
ING Groep NV 13 2.1 3,852 54 17 1.7 0.4 Citi 13 2.4 2,541 17 11 3.6 -1.2
Citi 14 2 3,603 40 9 2.9 -0.9 Bank of China 14 2.2 2,325 13 13 2.2 -
United Overseas Bank 15 2 3,581 47 15 1.9 0.1 Credit Agricole CIB 15 2 2,152 17 25 1.1 0.9
RBS 16 1.8 3,281 46 12 2.5 -0.7 ING Groep NV 16 1.8 1,960 19 14 2.1 -0.3
Credit Suisse 17 1.8 3,256 25 32 0.9 0.9 Oversea-Chinese Banking Corp 17 1.6 1,747 12 17 1.5 0.1
Oversea-Chinese Banking Corp 18 1.7 3,013 34 13 2.3 -0.6 United Overseas Bank 18 1.6 1,709 16 15 1.8 -0.2
Credit Agricole CIB 19 1.6 2,944 40 19 1.6 - Bank of Taiwan 19 1.5 1,644 23 24 1.1 0.4
Societe Generale 20 1.5 2,787 35 22 1.1 0.4 Axis Bank Ltd 20 1.5 1,577 7 16 1.7 -0.2
TOTAL 100% 181,447 491 164,301 100% TOTAL 100% 106,882 335 99,039 100%
FIRM
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Asia-Pac ex-Japan Loans Mandated Arranger Asia-Pac ex-Japan Loans Book Runner
State Bank of India 1 8.4 43,857 103 2 5.4 3 State Bank of India 1 12.5 40,259 85 1 8.8 3.7
Bank of China 2 7.3 38,271 223 7 3.4 3.9 Bank of China 2 10.7 34,483 162 9 3 7.7
ANZ Banking Group 3 5.8 30,302 301 1 6 -0.2 ANZ Banking Group 3 6.3 20,512 115 2 5.6 0.7
HSBC Bank PLC 4 4.4 23,263 245 6 3.8 0.6 Standard Chartered Bank 4 3.9 12,444 99 3 4.8 -0.9
Commonwealth Bank Australia 5 3.9 20,616 174 4 4.2 -0.3 Westpac Banking 5 3.3 10,561 51 4 3.9 -0.6
Westpac Banking 6 3.9 20,389 183 3 4.3 -0.4 HSBC Bank PLC 6 3.2 10,502 80 6 3.3 -0.1
National Australia Bank Ltd 7 3.9 20,316 159 5 4 -0.1 National Australia Bank Ltd 7 3.2 10,394 39 8 3 0.2
Sumitomo Mitsui Financial Group Inc 8 3 15,898 166 9 3.3 -0.3 Commonwealth Bank Australia 8 3.2 10,374 42 5 3.5 -0.3
Standard Chartered Bank 9 3 15,580 176 8 3.3 -0.3 DBS Group Holdings Ltd 9 2.6 8,478 62 10 2.8 -0.2
DBS Group Holdings Ltd 10 2.9 15,240 156 10 2.9 - Sumitomo Mitsui Financial Group Inc 10 2.3 7,349 48 13 2.4 -0.1
Mitsubishi UFJ Financial 11 2.6 13,438 148 11 2.7 -0.1 Mizuho Financial Group Inc 11 2.2 7,216 60 12 2.4 -0.2
China Development Bank 12 2.5 12,961 18 50 0.5 2 Deutsche Bank AG 12 2 6,470 39 16 2.1 -0.1
Mizuho Financial Group Inc 13 2.3 11,819 140 12 2.6 -0.3 Mitsubishi UFJ Financial 13 1.9 6,082 49 11 2.6 -0.7
Oversea-Chinese Banking Corp 14 2.1 11,204 92 14 2 0.1 Bank of Taiwan 14 1.8 5,699 70 18 2 -0.2
United Overseas Bank 15 1.9 10,036 102 19 1.4 0.5 Korea Development Bank 15 1.7 5,575 38 7 3.2 -1.5
BNP Paribas SA 16 1.5 7,837 98 25 1.1 0.4 Axis Bank Ltd 16 1.6 5,080 26 14 2.3 -0.7
Deutsche Bank AG 17 1.4 7,435 69 17 1.5 -0.1 RBS 17 1.6 5,010 35 15 2.2 -0.6
Credit Agricole CIB 18 1.4 7,192 73 23 1.2 0.2 BNP Paribas SA 18 1.5 4,726 42 21 1.4 0.1
Korea Development Bank 19 1.4 7,100 58 13 2.2 -0.8 Maybank 19 1.4 4,406 19 42 0.7 0.7
Citi 20 1.2 6,374 66 15 1.8 -0.6 Oversea-Chinese Banking Corp 20 1.3 4,340 25 34 0.9 0.4
TOTAL 100% 524,158 1,493 429,409 100% TOTAL 100% 323,205 1,053 251,636 100%
ASEAN Loans Mandated Arranger ASEAN Loans Book Runner
DBS Group Holdings Ltd 1 6.5 7,291 63 4 5.6 0.9 Standard Chartered Bank 1 11.1 6,031 38 1 12.7 -1.6
Oversea-Chinese Banking Corp 2 6.4 7,242 58 1 7.2 -0.8 DBS Group Holdings Ltd 2 8.8 4,760 26 2 7.5 1.3
Sumitomo Mitsui Financial Group Inc 3 5.6 6,248 56 3 5.7 -0.1 Maybank 3 7.6 4,150 17 12 3 4.6
Standard Chartered Bank 4 5.4 6,081 66 2 6.7 -1.3 Sumitomo Mitsui Financial Group Inc 4 6.4 3,468 17 10 3.4 3
HSBC Bank PLC 5 5.1 5,706 58 5 4.9 0.2 Deutsche Bank AG 5 6.1 3,295 17 20 1.5 4.6
United Overseas Bank 6 4.8 5,357 50 8 3.7 1.1 Oversea-Chinese Banking Corp 6 5.8 3,134 17 7 3.9 1.9
Maybank 7 4.5 5,070 40 7 3.8 0.7 BNP Paribas SA 7 3.9 2,110 18 9 3.7 0.2
Mitsubishi UFJ Financial 8 3.5 3,937 38 6 4.2 -0.7 CIMB 8 3.8 2,042 11 6 4 -0.2
CIMB 9 3.4 3,811 34 13 2.1 1.3 United Overseas Bank 9 3.7 2,025 13 13 2.9 0.8
Mizuho Financial Group Inc 10 3.3 3,698 42 9 3.2 0.1 ANZ Banking Group 10 3.6 1,932 19 8 3.7 -0.1
ANZ Banking Group 11 3.1 3,483 49 10 2.9 0.2 HSBC Bank PLC 11 3.2 1,752 18 5 4.2 -1
Deutsche Bank AG 12 3 3,421 25 29 1 2 Credit Suisse 12 2.8 1,513 9 42 0.5 2.3
RHB 13 2.5 2,861 15 20 1.4 1.1 ING Groep NV 13 2.6 1,434 14 14 2.7 -0.1
Bank of America Merrill Lynch 14 2.3 2,572 9 38 0.7 1.6 Mizuho Financial Group Inc 14 2.4 1,313 12 15 2.3 0.1
BNP Paribas SA 15 2.1 2,400 34 14 1.9 0.2 RHB 15 2 1,066 2 59 0.1 1.9
JP Morgan 16 2.1 2,373 8 47 0.4 1.7 BDO Capital & Investment Corp 16 1.8 951 5 3 4.7 -2.9
ING Groep NV 17 2.1 2,363 33 16 1.9 0.2 Mitsubishi UFJ Financial 17 1.7 922 11 4 4.2 -2.5
Siam Commercial Bank PCL 18 1.8 1,996 6 12 2.3 -0.5 International Finance Corp 18 1.2 659 2 - - -
Credit Suisse 19 1.5 1,643 13 45 0.5 1 Westpac Banking 19 1.2 651 3 35 0.6 0.6
Credit Agricole CIB 20 1.4 1,593 17 33 0.7 0.7 Rabobank Nederland 20 1.2 636 5 30 1 0.2
TOTAL 100% 112,362 251 86,223 100% TOTAL 100% 54,299 134 46,193 100%
FIRM
2014 2013
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2014 2013
RANK MKT SHARE
VOLUME
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2013
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Australia/NZ Loans Mandated Arranger Australia/NZ Loans Book Runner
ANZ Banking Group 1 17.1 21,539 183 1 16.1 1 ANZ Banking Group 1 24.1 14,739 61 2 18.5 5.6
National Australia Bank Ltd 2 15 18,852 143 3 13.7 1.3 National Australia Bank Ltd 2 16.6 10,172 37 4 14.5 2.1
Commonwealth Bank Australia 3 14.6 18,393 142 4 13.2 1.4 Commonwealth Bank Australia 3 15.8 9,653 36 3 16.2 -0.4
Westpac Banking 4 13.7 17,247 148 2 15.1 -1.4 Westpac Banking 4 15.3 9,350 41 1 19.1 -3.8
HSBC Bank PLC 5 4.4 5,547 55 6 3.4 1 HSBC Bank PLC 5 3.3 2,003 10 6 3.1 0.2
Mitsubishi UFJ Financial 6 3.3 4,185 40 7 3 0.3 Mitsubishi UFJ Financial 6 3.1 1,922 8 8 2.8 0.3
Sumitomo Mitsui Financial Group Inc 7 3.1 3,900 35 5 3.5 -0.4 RBS 7 2.7 1,640 4 9 2.4 0.3
Credit Agricole CIB 8 2.1 2,675 18 11 1.7 0.4 Scotiabank 8 2.4 1,480 4 18 0.7 1.7
Scotiabank 9 2 2,549 19 16 1.2 0.8 Mizuho Financial Group Inc 9 2.2 1,338 6 10 2.1 0.1
Mizuho Financial Group Inc 10 1.9 2,453 25 8 2.3 -0.4 Sumitomo Mitsui Financial Group Inc 10 2 1,214 5 5 3.6 -1.6
RBS 11 1.7 2,153 12 18 1.1 0.6 Bank of China 11 1.6 956 3 15 1.1 0.5
Oversea-Chinese Banking Corp 12 1.5 1,836 11 17 1.2 0.3 Citi 12 1.2 731 3 11 2.1 -0.9
Citi 13 1.5 1,827 18 12 1.6 -0.1 DBS Group Holdings Ltd 13 1.2 708 2 18 0.7 0.5
Bank of America Merrill Lynch 14 1.4 1,744 16 9 2 -0.6 Bank of America Merrill Lynch 14 1 640 5 14 1.1 -0.1
BNP Paribas SA 15 1 1,276 14 28 0.5 0.5 Credit Agricole CIB 15 0.8 489 3 17 0.8 -
Bank of China 16 1 1,262 9 10 1.7 -0.7 DnB ASA 16 0.7 410 1 18 0.7 -
ING Groep NV 17 1 1,245 10 25 0.7 0.3 Oversea-Chinese Banking Corp 16 0.7 410 1 18 0.7 -
DBS Group Holdings Ltd 18 1 1,243 12 14 1.4 -0.4 United Overseas Bank 18 0.7 399 2 - - -
RBC Capital Markets 19 1 1,211 9 20 1 - China Development Bank 19 0.6 372 1 - - -
United Overseas Bank 20 0.9 1,107 11 23 0.8 0.1 Standard Chartered Bank 20 0.5 330 2 - - -
TOTAL 100% 125,976 266 115,055 100% TOTAL 100% 61,144 117 48,055 100%
Australia Loans Mandated Arranger Australia Loans Book Runner
ANZ Banking Group 1 15.4 16,680 142 2 14.5 0.9 ANZ Banking Group 1 22.8 12,517 52 2 16.5 6.3
National Australia Bank Ltd 2 14 15,110 109 3 13.4 0.6 Westpac Banking 2 16.2 8,876 39 1 18.8 -2.6
Westpac Banking 3 13.8 14,886 119 1 14.7 -0.9 National Australia Bank Ltd 3 15.8 8,637 32 4 15.1 0.7
Commonwealth Bank Australia 4 13.4 14,524 110 4 12.3 1.1 Commonwealth Bank Australia 4 14.7 8,046 31 3 16.2 -1.5
HSBC Bank PLC 5 4.3 4,663 43 6 3.3 1 HSBC Bank PLC 5 3.7 2,003 10 6 3.3 0.4
Sumitomo Mitsui Financial Group Inc 6 3.6 3,900 35 5 3.9 -0.3 Mitsubishi UFJ Financial 6 3.5 1,922 8 8 3 0.5
Mitsubishi UFJ Financial 7 3.4 3,664 35 7 3 0.4 RBS 7 3 1,640 4 9 2.5 0.5
Credit Agricole CIB 8 2.5 2,675 18 11 1.9 0.6 Mizuho Financial Group Inc 8 2.4 1,338 6 10 2.3 0.1
Mizuho Financial Group Inc 9 2.3 2,453 25 8 2.5 -0.2 Scotiabank 9 2.3 1,286 3 18 0.7 1.6
Scotiabank 10 2.2 2,355 18 16 1.4 0.8 Sumitomo Mitsui Financial Group Inc 10 2.2 1,214 5 5 3.8 -1.6
RBS 11 2 2,153 12 18 1.2 0.8 Bank of China 11 1.7 956 3 15 1.1 0.6
Oversea-Chinese Banking Corp 12 1.7 1,836 11 17 1.3 0.4 Citi 12 1.3 731 3 11 2.2 -0.9
Bank of America Merrill Lynch 13 1.6 1,744 16 9 2.2 -0.6 DBS Group Holdings Ltd 13 1.3 708 2 18 0.7 0.6
Citi 14 1.5 1,587 14 13 1.5 - Bank of America Merrill Lynch 14 1.2 640 5 14 1.1 0.1
BNP Paribas SA 15 1.2 1,276 14 28 0.5 0.7 Credit Agricole CIB 15 0.9 489 3 17 0.8 0.1
Bank of China 16 1.2 1,262 9 10 1.9 -0.7 DnB ASA 16 0.7 410 1 18 0.7 -
DBS Group Holdings Ltd 17 1.2 1,243 12 12 1.5 -0.3 Oversea-Chinese Banking Corp 16 0.7 410 1 18 0.7 -
RBC Capital Markets 18 1.1 1,211 9 20 1.1 - China Development Bank 18 0.7 372 1 - - -
ING Groep NV 19 1 1,120 9 25 0.7 0.3 Standard Chartered Bank 19 0.6 330 2 - - -
United Overseas Bank 20 0.8 913 10 23 0.9 -0.1 Banco Santander SA 20 0.6 321 1 - - -
TOTAL 100% 108,038 206 102,775 100% TOTAL 100% 54,793 97 45,294 100%
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China Loans Mandated Arranger China Loans Book Runner
Bank of China 1 41.8 30,412 146 1 16.4 25.4 Bank of China 1 54.9 30,036 134 1 17.1 37.8
China Development Bank 2 15 10,911 11 33 0.9 14.1 China Development Bank 2 7.1 3,876 7 29 0.5 6.6
China Construction Bank 3 3.2 2,362 6 17 1.8 1.4 Industrial & Comm Bank of China 3 4.1 2,218 10 22 1.3 2.8
HSBC Bank PLC 4 3.1 2,234 27 9 2.5 0.6 China Citic Bank 4 2.9 1,573 28 - - -
Standard Chartered Bank 5 2.7 1,933 24 6 2.9 -0.2 China Construction Bank 5 2.7 1,490 2 20 1.5 1.2
China Citic Bank 6 2.4 1,749 34 2 9.7 -7.3 Standard Chartered Bank 6 2.4 1,321 12 4 5.7 -3.3
Industrial & Comm Bank of China 7 2.2 1,574 13 5 3 -0.8 Deutsche Bank AG 7 2.4 1,288 5 3 8.9 -6.5
DBS Group Holdings Ltd 8 1.8 1,318 16 7 2.7 -0.9 Citi 8 2 1,088 4 10 3.1 -1.1
Mizuho Financial Group Inc 9 1.5 1,074 15 8 2.6 -1.1 ANZ Banking Group 9 1.8 963 8 12 3 -1.2
ANZ Banking Group 10 1.5 1,063 13 13 2.2 -0.7 JP Morgan 10 1.7 927 3 13 2.6 -0.9
Shanghai Automotive Group Finance Co Ltd 11 1.3 965 1 - - - HSBC Bank PLC 11 1.7 917 10 9 3.3 -1.6
Sumitomo Mitsui Financial Group Inc 12 1.3 944 16 12 2.2 -0.9 Morgan Stanley 12 1.7 908 3 5 5 -3.3
BNP Paribas SA 13 1.2 842 12 11 2.2 -1 Credit Agricole CIB 13 1.4 788 8 42 0.1 1.3
Deutsche Bank AG 14 1.2 842 8 4 5.7 -4.5 Mizuho Financial Group Inc 14 1.4 749 10 6 4 -2.6
Westpac Banking 15 1.1 812 7 44 0.4 0.7 Shanghai Pudong Development Bank 15 1 551 7 2 9.6 -8.6
Mitsubishi UFJ Financial 16 1.1 807 11 32 1 0.1 DBS Group Holdings Ltd 16 0.9 520 8 7 3.9 -3
Citi 17 1.1 765 7 16 1.8 -0.7 BNP Paribas SA 17 0.8 456 6 17 2.1 -1.3
Commonwealth Bank Australia 18 0.9 689 7 29 1.1 -0.2 Bank of Taiwan 18 0.8 427 4 29 0.5 0.3
ING Groep NV 19 0.9 659 8 24 1.2 -0.3 Sumitomo Mitsui Financial Group Inc 19 0.7 383 6 21 1.4 -0.7
Societe Generale 20 0.9 651 5 28 1.1 -0.2 CTBC Financial Holding Co Ltd 20 0.7 358 6 33 0.5 0.2
TOTAL 100% 72,826 270 40,046 100% TOTAL 100% 54,693 240 23,570 100%
Hong Kong Loans Mandated Arranger Hong Kong Loans Book Runner
HSBC Bank PLC 1 11.7 8,437 78 1 9.1 2.6 HSBC Bank PLC 1 15.7 5,127 29 2 10.5 5.2
Bank of China 2 7.1 5,101 48 3 6.2 0.9 Bank of China 2 8 2,623 17 5 5.3 2.7
Standard Chartered Bank 3 6.5 4,681 43 2 7.3 -0.8 Standard Chartered Bank 3 7.8 2,568 21 1 11.2 -3.4
DBS Group Holdings Ltd 4 4.7 3,409 37 4 5.5 -0.8 Mizuho Financial Group Inc 4 5.4 1,755 12 14 2.4 3
Sumitomo Mitsui Financial Group Inc 5 4.1 2,995 35 10 2.6 1.5 Mitsubishi UFJ Financial 5 4.9 1,612 12 3 6.4 -1.5
China Construction Bank 6 4.1 2,930 31 15 2.2 1.9 ANZ Banking Group 6 4.1 1,331 9 7 4.7 -0.6
Mitsubishi UFJ Financial 7 3.7 2,641 29 6 3.8 -0.1 BNP Paribas SA 7 3.9 1,279 10 30 0.7 3.2
ANZ Banking Group 8 3.5 2,527 29 8 2.9 0.6 Sumitomo Mitsui Financial Group Inc 8 3.9 1,265 10 11 2.9 1
United Overseas Bank 9 3.4 2,426 25 12 2.4 1 Credit Agricole CIB 9 3.7 1,200 7 19 1.4 2.3
Industrial & Comm Bank of China 10 3.3 2,397 30 5 5 -1.7 United Overseas Bank 10 2.8 927 9 12 2.9 -0.1
Mizuho Financial Group Inc 11 3 2,196 27 14 2.3 0.7 Industrial & Comm Bank of China 11 2.7 884 6 10 3.5 -0.8
BNP Paribas SA 12 2.7 1,954 20 29 1.2 1.5 Agricultural Bank of China Ltd 12 2.6 846 5 16 1.9 0.7
Oversea-Chinese Banking Corp 13 2.3 1,642 16 20 1.6 0.7 RBS 13 2.5 818 7 6 4.9 -2.4
Credit Agricole CIB 14 2 1,447 14 19 1.6 0.4 DBS Group Holdings Ltd 14 2.2 707 7 4 5.9 -3.7
Bank of East Asia Ltd 15 1.8 1,332 19 7 3.4 -1.6 China Construction Bank 15 2 651 7 9 3.5 -1.5
RBS 16 1.8 1,312 14 11 2.5 -0.7 China Merchants Bank 16 1.9 613 5 15 2.3 -0.4
Agricultural Bank of China Ltd 17 1.7 1,249 10 16 2.1 -0.4 ING Groep NV 17 1.6 526 4 28 0.8 0.8
Shanghai Pudong Development Bank 18 1.6 1,154 17 37 0.7 0.9 Fubon Financial Holding Co Ltd 18 1.4 475 4 21 1 0.4
ING Groep NV 19 1.6 1,150 13 31 1 0.6 Natixis 19 1.3 412 4 18 1.6 -0.3
Westpac Banking 20 1.6 1,135 12 43 0.5 1.1 Bank of Taiwan 20 1.2 403 5 23 1 0.2
TOTAL 100% 72,254 162 64,860 100% TOTAL 100% 32,751 91 32,345 100%
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Hong Kong/Macau Loans Mandated Arranger Hong Kong/Macau Loans Book Runner
HSBC Bank PLC 1 11 8,437 78 1 8.9 2.1 HSBC Bank PLC 1 13.7 5,127 29 2 10.1 3.6
Bank of China 2 7 5,376 49 3 6.3 0.7 Bank of China 2 7.8 2,936 18 5 5.6 2.2
Standard Chartered Bank 3 6.1 4,681 43 2 7.1 -1 Standard Chartered Bank 3 6.9 2,568 21 1 10.7 -3.8
DBS Group Holdings Ltd 4 4.8 3,683 38 4 5.4 -0.6 Mizuho Financial Group Inc 4 4.7 1,755 12 14 2.3 2.4
Sumitomo Mitsui Financial Group Inc 5 4.3 3,269 36 10 2.6 1.7 Mitsubishi UFJ Financial 5 4.3 1,612 12 3 6.1 -1.8
China Construction Bank 6 3.8 2,930 31 15 2.1 1.7 BNP Paribas SA 6 4.3 1,592 11 32 0.7 3.6
United Overseas Bank 7 3.5 2,701 26 13 2.4 1.1 Sumitomo Mitsui Financial Group Inc 7 4.2 1,579 11 12 2.8 1.4
Industrial & Comm Bank of China 8 3.5 2,672 31 5 5.1 -1.6 Credit Agricole CIB 8 4 1,514 8 16 1.9 2.1
Mitsubishi UFJ Financial 9 3.4 2,641 29 6 3.8 -0.4 ANZ Banking Group 9 3.6 1,331 9 6 5.1 -1.5
ANZ Banking Group 10 3.3 2,527 29 8 3.1 0.2 United Overseas Bank 10 3.3 1,240 10 13 2.7 0.6
BNP Paribas SA 11 2.9 2,228 21 29 1.1 1.8 Industrial & Comm Bank of China 11 3.2 1,198 7 9 3.9 -0.7
Mizuho Financial Group Inc 12 2.9 2,196 27 14 2.2 0.7 DBS Group Holdings Ltd 12 2.7 1,020 8 4 5.6 -2.9
Oversea-Chinese Banking Corp 13 2.5 1,916 17 20 1.6 0.9 Agricultural Bank of China Ltd 13 2.3 846 5 17 1.9 0.4
Credit Agricole CIB 14 2.2 1,721 15 18 1.8 0.4 RBS 14 2.2 818 7 7 4.7 -2.5
Citi 15 1.9 1,484 10 11 2.5 -0.6 China Construction Bank 15 1.7 651 7 10 3.4 -1.7
Bank of East Asia Ltd 16 1.7 1,332 19 7 3.3 -1.6 Citi 16 1.7 627 1 8 4.4 -2.7
RBS 17 1.7 1,312 14 12 2.4 -0.7 China Merchants Bank 17 1.6 613 5 15 2.2 -0.6
Agricultural Bank of China Ltd 18 1.6 1,249 10 17 2.1 -0.5 Oversea-Chinese Banking Corp 18 1.6 607 5 48 0.3 1.3
Shanghai Pudong Development Bank 19 1.5 1,154 17 37 0.7 0.8 ING Groep NV 19 1.4 526 4 30 0.7 0.7
ING Groep NV 20 1.5 1,150 13 33 1 0.5 Bank of America Merrill Lynch 20 1.3 481 3 21 1.1 0.2
TOTAL 100% 76,907 164 66,354 100% TOTAL 100% 37,405 93 33,838 100%
India Loans Mandated Arranger India Loans Book Runner
State Bank of India 1 57.3 43,668 100 1 38.7 18.6 State Bank of India 1 59.9 40,159 84 1 45.8 14.1
Axis Bank Ltd 2 6 4,558 26 2 10.3 -4.3 Axis Bank Ltd 2 7.6 5,080 26 2 11.7 -4.1
ICICI 3 4.4 3,322 16 4 4.8 -0.4 ICICI 3 4.1 2,776 13 4 3.8 0.3
IDFC Capital Ltd 4 2.3 1,783 7 55 0.1 2.2 Standard Chartered Bank 4 2.8 1,892 19 9 1.8 1
Standard Chartered Bank 5 2.2 1,663 20 6 2.3 -0.1 Deutsche Bank AG 5 2.6 1,742 15 6 2.9 -0.3
Deutsche Bank AG 6 2.2 1,640 16 12 1.8 0.4 RBS 6 2.5 1,658 13 5 3 -0.5
IDBI Bank Ltd 7 2.1 1,580 7 3 8.8 -6.7 IDFC Capital Ltd 7 2.2 1,500 5 - - -
RBS 8 1.5 1,121 15 5 2.3 -0.8 IDBI Bank Ltd 8 2 1,323 5 3 10.1 -8.1
Mizuho Financial Group Inc 9 1.4 1,097 12 8 2.2 -0.8 ANZ Banking Group 9 1.6 1,053 13 10 1.6 -
Mitsubishi UFJ Financial 10 1.4 1,048 15 13 1.7 -0.3 Mizuho Financial Group Inc 10 1.5 1,021 10 7 2.3 -0.8
ANZ Banking Group 11 1.3 1,011 16 10 2 -0.7 DBS Group Holdings Ltd 11 1.4 944 10 21 0.6 0.8
Sumitomo Mitsui Financial Group Inc 12 1.3 1,007 10 9 2.1 -0.8 Credit Suisse 12 1.1 763 2 27 0.3 0.8
DBS Group Holdings Ltd 13 1.2 887 12 18 1.1 0.1 Mitsubishi UFJ Financial 13 1.1 748 9 14 1.1 -
Credit Suisse 14 1.1 825 3 48 0.1 1 Sumitomo Mitsui Financial Group Inc 14 0.9 592 6 12 1.6 -0.7
Bank of Baroda 15 0.9 679 6 26 0.3 0.6 HDFC Bank 15 0.8 545 4 18 0.9 -0.1
Bank of India 16 0.9 664 5 20 1.1 -0.2 Bank of America Merrill Lynch 16 0.7 471 6 16 1 -0.3
HSBC Bank PLC 17 0.9 650 12 17 1.3 -0.4 BNP Paribas SA 17 0.6 434 6 13 1.2 -0.6
Indusind Bank Ltd 18 0.8 576 10 40 0.1 0.7 Indusind Bank Ltd 18 0.6 396 9 33 0.2 0.4
BNP Paribas SA 19 0.7 510 8 22 0.9 -0.2 HSBC Bank PLC 19 0.6 390 7 17 0.9 -0.3
Scotiabank 20 0.6 479 5 28 0.3 0.3 Scotiabank 20 0.5 344 3 22 0.4 0.1
TOTAL 100% 76,168 202 59,244 100% TOTAL 100% 67,068 178 48,492 100%
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Korea Loans Mandated Arranger Korea Loans Book Runner
Korea Development Bank 1 20.5 5,952 42 1 28.1 -7.6 Korea Development Bank 1 27.2 5,292 35 1 35.6 -8.4
Shinhan Financial Group Co Ltd 2 18.3 5,313 32 2 10.9 7.4 Shinhan Financial Group Co Ltd 2 18.5 3,603 21 2 15.6 2.9
KB Financial Group 3 16.2 4,702 23 4 9.9 6.3 KB Financial Group 3 14.1 2,736 12 4 12.1 2
Hana Financial Group Inc 4 7.6 2,203 19 3 9.9 -2.3 Hana Financial Group Inc 4 12.9 2,498 16 3 12.5 0.4
Woori Finance Holdings Co Ltd 5 6.6 1,905 11 5 4.6 2 Woori Finance Holdings Co Ltd 5 8.4 1,628 9 5 4.2 4.2
Citi 6 3.1 898 9 10 1.6 1.5 Mizuho Financial Group Inc 6 2.2 433 3 7 2.7 -0.5
Mizuho Financial Group Inc 7 2.5 723 8 6 3.7 -1.2 NH Capital Co Ltd 7 2.1 401 2 - - -
HSBC Bank PLC 8 1.7 495 8 21 0.7 1 Meritz Securities Co Ltd 8 1.9 365 1 - - -
NH Capital Co Ltd 9 1.4 401 2 - - - Bookook Securities 9 1.9 364 1 - - -
Industrial Bank of Korea 10 1.4 393 3 27 0.5 0.9 Industrial Bank of Korea 10 1.7 337 2 14 0.7 1
Meritz Securities Co Ltd 11 1.3 365 1 - - - Mitsubishi UFJ Financial 11 1.5 300 2 10 1.5 -
Kyobo Life Insurance Co Ltd 12 1.2 357 2 38 0.3 0.9 Korea Investment & Securities Co 12 1.2 240 1 26 0.1 1.1
UBS 13 1.2 352 1 - - - I'm Investment & Securities Co Ltd 13 1 195 1 - - -
Sumitomo Mitsui Financial Group Inc 14 1.2 350 9 9 2.4 -1.2 Hyundai Securities 14 0.7 135 1 - - -
Mitsubishi UFJ Financial 15 1 302 6 14 1.2 -0.2 HSBC Bank PLC 15 0.7 131 1 - - -
BNP Paribas SA 16 1 299 6 17 0.9 0.1 Export-Import Bank of Korea 16 0.6 111 2 25 0.2 0.4
Commerzbank AG 17 0.9 268 6 18 0.9 - Woori Investment & Securities Co Ltd 17 0.5 101 1 9 1.6 -1.1
Export-Import Bank of Korea 18 0.9 255 3 23 0.6 0.3 Macquarie Group Ltd 18 0.5 93 1 - - -
Korea Investment & Securities Co 19 0.8 240 1 57 0.1 0.7 Citi 19 0.4 85 2 15 0.5 -0.1
Bank of America Merrill Lynch 20 0.7 209 4 29 0.5 0.2 DZ Bank AG 20 0.4 72 1 - - -
TOTAL 100% 29,026 139 31,056 100% TOTAL 100% 19,433 101 22,340 100%
Taiwan Loans Mandated Arranger Taiwan Loans Book Runner
Bank of Taiwan 1 13.3 3,822 67 1 12 1.3 Bank of Taiwan 1 17.7 4,869 61 1 17.3 0.4
Mega Financial Holding Co Ltd 2 11.5 3,292 57 2 11.2 0.3 Mega Financial Holding Co Ltd 2 10.9 2,998 37 2 11.2 -0.3
Land Bank of Taiwan 3 9.3 2,682 51 3 9 0.3 Taiwan Cooperative Financial Holding Co 3 8.8 2,409 47 3 8.8 -
Taiwan Cooperative Financial Holding Co 4 8.1 2,327 67 4 7.6 0.5 Fubon Financial Holding Co Ltd 4 8.4 2,300 41 5 7.3 1.1
Taishin Financial Holding Co Ltd 5 6.4 1,829 32 6 6.3 0.1 Taishin Financial Holding Co Ltd 5 6.9 1,888 24 4 7.3 -0.4
First Commercial Bank 6 6.3 1,818 51 9 4.6 1.7 Land Bank of Taiwan 6 6.5 1,797 34 7 6.9 -0.4
Fubon Financial Holding Co Ltd 7 6.2 1,784 44 7 6 0.2 First Commercial Bank 7 6.4 1,750 40 8 4.7 1.7
CTBC Financial Holding Co Ltd 8 6 1,727 42 5 7 -1 CTBC Financial Holding Co Ltd 8 6.3 1,741 33 6 7.2 -0.9
Chang Hwa Commercial Bank 9 4.4 1,252 44 8 4.7 -0.3 Chang Hwa Commercial Bank 9 3.2 880 26 14 1.8 1.4
DBS Group Holdings Ltd 10 2.7 778 15 17 1.1 1.6 Mizuho Financial Group Inc 10 2.2 607 7 11 2.1 0.1
E.Sun Financial Holding Co Ltd 11 2.1 615 25 10 3.4 -1.3 E.Sun Financial Holding Co Ltd 11 2.1 586 20 13 1.9 0.2
Taiwan Business Bank 12 2.1 595 14 15 1.3 0.8 DBS Group Holdings Ltd 12 1.9 526 9 28 0.5 1.4
Mizuho Financial Group Inc 13 2 577 11 14 2.2 -0.2 ANZ Banking Group 13 1.8 493 5 21 0.9 0.9
Hua Nan Commercial Bank 14 1.9 557 16 11 2.7 -0.8 Taiwan Business Bank 14 1.6 448 7 15 1.3 0.3
Mitsubishi UFJ Financial 15 1.7 489 8 26 0.7 1 Industrial Bank of Taiwan 15 1.4 397 9 24 0.6 0.8
ANZ Banking Group 16 1.5 442 6 23 0.8 0.7 United Overseas Bank 16 1.4 372 3 - - -
Industrial Bank of Taiwan 17 1.2 350 9 20 0.8 0.4 Hua Nan Commercial Bank 17 1.2 327 9 9 3.2 -2
Shin Kong Financial Holding Co Ltd 18 1.1 308 5 32 0.4 0.7 Cathay United Bank Co Ltd 18 1.2 322 4 10 3.1 -1.9
United Overseas Bank 19 1.1 304 3 - - - Mitsubishi UFJ Financial 19 1 267 2 23 0.8 0.2
Cathay United Bank Co Ltd 20 1 278 4 13 2.4 -1.4 Bank of Communications 20 0.8 217 1 - - -
TOTAL 100% 28,722 190 28,839 100% TOTAL 100% 27,467 180 27,272 100%
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Singapore Loans Mandated Arranger Singapore Loans Book Runner
DBS Group Holdings Ltd 1 9.8 5,495 44 1 10.2 -0.4 DBS Group Holdings Ltd 1 13.5 3,863 16 2 11.4 2.1
Oversea-Chinese Banking Corp 2 8.8 4,921 32 2 8.7 0.1 Standard Chartered Bank 2 13.1 3,740 18 1 15.2 -2.1
HSBC Bank PLC 3 7.3 4,097 30 5 4.8 2.5 Sumitomo Mitsui Financial Group Inc 3 8.7 2,489 7 8 3.7 5
Standard Chartered Bank 4 6.7 3,734 34 6 4.7 2 Oversea-Chinese Banking Corp 4 8.1 2,307 9 12 2.4 5.7
United Overseas Bank 5 6.6 3,731 30 3 6.4 0.2 United Overseas Bank 5 5.8 1,658 8 6 4 1.8
Sumitomo Mitsui Financial Group Inc 6 4.8 2,671 18 4 5 -0.2 Deutsche Bank AG 6 5.7 1,640 9 17 1.9 3.8
Bank of America Merrill Lynch 7 4.2 2,381 5 42 0.5 3.7 Maybank 7 5.5 1,572 6 18 1.9 3.6
JP Morgan 8 3.8 2,158 5 40 0.5 3.3 BNP Paribas SA 8 4.6 1,313 10 3 6.6 -2
ANZ Banking Group 9 3.4 1,913 23 8 3.2 0.2 HSBC Bank PLC 9 4 1,151 11 4 5.9 -1.9
Maybank 10 2.9 1,646 13 14 2.6 0.3 ING Groep NV 10 4 1,135 11 7 3.9 0.1
Deutsche Bank AG 11 2.9 1,642 12 45 0.4 2.5 ANZ Banking Group 11 3.4 966 9 5 4.1 -0.7
Credit Agricole CIB 12 2.3 1,317 11 28 0.8 1.5 Westpac Banking 12 2.3 651 3 23 1.4 0.9
Mizuho Financial Group Inc 13 2.3 1,285 10 17 1.9 0.4 Rabobank Nederland 13 1.8 517 3 19 1.9 -0.1
BNP Paribas SA 14 2.3 1,266 19 10 2.9 -0.6 Bank of China 14 1.4 409 4 11 3.1 -1.7
Mitsubishi UFJ Financial 15 2.3 1,263 12 9 3.2 -0.9 ABN Amro Bank NV 15 1.4 407 4 22 1.5 -0.1
ING Groep NV 16 2.1 1,197 20 12 2.8 -0.7 DnB ASA 16 1.4 406 3 30 0.7 0.7
Rabobank Nederland 17 1.9 1,041 13 23 1.1 0.8 Credit Agricole CIB 17 1.3 382 2 27 1.2 0.1
CIMB 18 1.8 1,025 10 19 1.6 0.2 Mizuho Financial Group Inc 18 1.2 356 1 39 0.3 0.9
Bank of China 19 1.8 995 13 7 4.3 -2.5 Societe Generale 19 1.1 313 3 20 1.7 -0.6
Westpac Banking 20 1.4 801 8 20 1.3 0.1 Natixis 20 1.1 306 4 26 1.3 -0.2
TOTAL 100% 56,108 105 34,188 100% TOTAL 100% 28,634 51 21,294 100%
Indonesia Loans Mandated Arranger Indonesia Loans Book Runner
Sumitomo Mitsui Financial Group Inc 1 6.2 1,346 20 6 4.7 1.5 Standard Chartered Bank 1 9.8 1,173 12 4 7.4 2.4
Mitsubishi UFJ Financial 2 5.7 1,246 16 8 4.3 1.4 Credit Suisse 2 9.3 1,113 6 28 0.8 8.5
ANZ Banking Group 3 5.3 1,159 17 5 4.9 0.4 DBS Group Holdings Ltd 3 6.5 783 8 3 8.6 -2.1
DBS Group Holdings Ltd 4 5.2 1,125 14 3 5.4 -0.2 BNP Paribas SA 4 5.6 675 6 11 3.5 2.1
Credit Suisse 5 5 1,095 6 42 0.4 4.6 International Finance Corp 5 5.5 659 2 - - -
HSBC Bank PLC 6 4.8 1,038 17 9 3.9 0.9 Mitsubishi UFJ Financial 6 5.1 609 6 9 4 1.1
Mizuho Financial Group Inc 7 4.8 1,035 13 10 3.6 1.2 HSBC Bank PLC 7 4.7 558 6 7 4.3 0.4
Oversea-Chinese Banking Corp 8 4.4 960 14 1 7.8 -3.4 Deutsche Bank AG 8 4.4 530 6 13 3 1.4
Standard Chartered Bank 9 4.1 891 15 7 4.6 -0.5 ANZ Banking Group 9 4.4 530 5 10 3.9 0.5
United Overseas Bank 10 4 875 13 14 2.2 1.8 Citi 10 4.1 489 6 18 2.1 2
BNP Paribas SA 11 4 864 12 17 1.9 2.1 Sumitomo Mitsui Financial Group Inc 11 3.8 459 5 6 4.4 -0.6
Bank CIMB Niaga Tbk PT 12 3.2 691 10 15 2.1 1.1 Mizuho Financial Group Inc 12 3.7 447 5 8 4.2 -0.5
Bank Negara Indonesia (Persero) Tbk PT 13 2.9 621 10 2 6.7 -3.8 Oversea-Chinese Banking Corp 13 3.6 437 4 2 9.2 -5.6
Bank Mandiri 14 2.8 612 13 4 5.3 -2.5 RBS 14 3.3 398 5 12 3.2 0.1
ING Groep NV 15 2.7 589 6 22 1.6 1.1 Bank Mandiri 15 3.2 382 7 15 2.7 0.5
Deutsche Bank AG 16 2.5 545 8 19 1.8 0.7 Bank Negara Indonesia (Persero) Tbk PT 16 2.2 263 3 1 9.4 -7.2
International Finance Corp 17 2.5 540 4 - - - ING Groep NV 17 2.1 256 2 5 4.8 -2.7
Maybank 18 2.5 539 9 12 2.6 -0.1 Maybank 18 2 234 3 33 0.6 1.4
Citi 19 2.1 459 8 13 2.5 -0.4 JP Morgan 19 1.7 208 2 24 1.1 0.6
Bank Central Asia 20 2 430 8 20 1.8 0.2 Bank CIMB Niaga Tbk PT 20 1.7 200 3 27 1.1 0.6
TOTAL 100% 21,681 71 17,292 100% TOTAL 100% 11,975 42 9,165 100%
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Malaysia Loans Mandated Arranger Malaysia Loans Book Runner
Maybank 1 14 2,694 13 1 14.6 -0.6 Maybank 1 24.2 2,140 6 2 14.5 9.7
RHB 2 13 2,515 11 6 6.7 6.3 CIMB 2 18.3 1,619 5 1 26.5 -8.2
CIMB 3 9.4 1,816 12 5 7.5 1.9 RHB 3 12.1 1,066 2 11 1.2 10.9
Oversea-Chinese Banking Corp 4 6.9 1,337 11 3 11.3 -4.4 Deutsche Bank AG 4 11 975 1 - - -
AmInvestment Bank Bhd 5 6.3 1,222 8 4 9.7 -3.4 Standard Chartered Bank 5 10.4 914 4 3 13.6 -3.2
Standard Chartered Bank 6 5.8 1,128 8 2 11.5 -5.7 AmInvestment Bank Bhd 6 6.1 535 4 5 9.8 -3.7
Deutsche Bank AG 7 5.1 975 1 26 0.2 4.9 ANZ Banking Group 7 4.6 404 4 - - -
Sumitomo Mitsui Financial Group Inc 8 5 962 8 11 3.1 1.9 Oversea-Chinese Banking Corp 8 4.4 390 4 6 8.2 -3.8
National Bank of Abu Dhabi 9 4.1 784 3 - - - Natixis 9 2 179 1 - - -
United Overseas Bank 10 3.7 713 5 10 3.8 -0.1 United Overseas Bank 10 2 175 3 8 3.9 -1.9
Mitsubishi UFJ Financial 11 3.4 662 3 7 5.4 -2 Mizuho Financial Group Inc 11 1.5 133 2 - - -
DBS Group Holdings Ltd 12 3.3 639 4 16 1.2 2.1 DBS Group Holdings Ltd 12 0.9 83 1 - - -
Export-Import Bank of Malaysia Bhd 13 2.8 546 2 23 0.7 2.1 Scotiabank 12 0.9 83 1 - - -
ABN Amro Bank NV 14 2.2 421 1 14 1.6 0.6 Wells Fargo & Co 14 0.6 50 1 - - -
Goldman Sachs & Co 14 2.2 421 1 - - - Hong Leong Investment Bank Bhd 15 0.5 42 1 - - -
ING Groep NV 14 2.2 421 1 - - - Sumitomo Mitsui Financial Group Inc 15 0.5 42 1 - - -
Mizuho Financial Group Inc 17 2.2 416 5 19 0.9 1.3
HSBC Bank PLC 18 1.9 366 6 8 5.4 -3.5
ANZ Banking Group 19 1.3 247 4 - - -
Affin Hwang Capital 20 1 199 2 - - -
TOTAL 100% 19,278 31 12,517 100% TOTAL 100% 8,829 16 5,241 100%
Thailand Loans Mandated Arranger Thailand Loans Book Runner
Siam Commercial Bank PCL 1 24.6 1,889 5 1 16.8 7.8 Mizuho Financial Group Inc 1 22.5 200 1 6 6.1 16.4
Bangkok Bank PCL 2 14.4 1,108 4 3 11.3 3.1 Kasikornbank PCL 2 17 151 3 2 29.8 -12.8
Sumitomo Mitsui Financial Group Inc 3 11.9 912 3 4 10 1.9 Deutsche Bank AG 3 16.9 150 1 - - -
Krung Thai Bank 4 11.6 891 2 2 13.6 -2 BNP Paribas SA 4 10.1 90 1 - - -
Mizuho Financial Group Inc 5 7.2 552 5 9 3.8 3.4 Mega Financial Holding Co Ltd 5 8.8 78 2 - - -
Kasikornbank PCL 6 6.1 473 5 5 9.1 -3 CIMB 6 5.8 52 1 - - -
Bank of Ayudhya PCL 7 3.6 279 2 - - - E.Sun Financial Holding Co Ltd 7 4 36 1 - - -
CIMB 8 3.6 278 2 - - - Far Eastern International Bank 7 4 36 1 - - -
Land and Houses Retail Bank PCL 9 2.9 226 1 - - - Taishin Financial Holding Co Ltd 7 4 36 1 - - -
Mitsubishi UFJ Financial 9 2.9 226 1 11 2.7 0.2 Taiwan Cooperative Financial Holding Co 7 4 36 1 - - -
Deutsche Bank AG 11 2 150 1 - - - Siam Commercial Bank PCL 11 2.7 24 1 1 43.8 -41.1
Standard Chartered Bank 12 1 73 2 6 7.7 -6.7
Mega Financial Holding Co Ltd 13 0.9 68 2 - - -
Government Savings Bank 14 0.7 53 1 - - -
Tisco Bank PCL 14 0.7 53 1 - - -
ANZ Banking Group 16 0.7 50 1 - - -
HSBC Bank PLC 16 0.7 50 1 6 7.7 -7
Rabobank Nederland 16 0.7 50 1 - - -
UBS 16 0.7 50 1 6 7.7 -7
BNP Paribas SA 20 0.6 45 1 - - -
TOTAL 100% 7,686 16 11,118 100% TOTAL 100% 890 9 3,294 100%
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Bloomberg Syndicated Loans - League Tables Criteria
General Guidelines
For a signed, syndicated loan transaction to receive credit in Bloomberg league tables, Bloomberg must be notified of the following information:
Agent
Borrower’s country of origin
Borrower’s industry
Borrower’s name
Capital structure rank
Currency
Execution/Funding date
Fees
Maturity date/Tenor
Parent name
Pricing
Syndicate list with titles
Total deal amount
Tranche amounts
Tranche types
Credit is awarded as of the credit agreement’s signing date, regardless of subsequent events related to the transaction; with the exception of Asia-Pacific transactions signed in senior syndication (documentation required); for which credit is awarded only on the syndication completion date.
Regional and local tables are based upon the principal borrower’s country of incorporation, with the exception of Asia-Pacific and Latin American tables, which are based upon the principal borrower’s country of risk.
Treatment of Cross-Border Deals:
Any cross-border deals must be accompanied by documentation disclosing:
Majority market of syndication of the lenders
Base currency
Location of the bank meeting
Domicile of the primary borrower
Guarantor(s) location
Additional borrowers & their locations
Primary borrower’s principal operations & locations
Market of syndication is the primary consideration for any challenge decision. Bloomberg reserves the right on final decisions on any cross border transaction.
I. Amendments / Amended and Restated Agreements
Credit is allocated to amended or amended and restated transactions, where each modification is 100% at the lender’s option and not as a result of events already built into the original credit agreement. Credit is awarded for the following structural changes only:
Maturity is extended for a period of 90 days or more. A limitation of one amended maturity update is allowed full credit per loan, per year.*
Credit is allocated on incremental basis for increases in deal size.
Reduction in pricing.
Full release of collateral.
Bloomberg Syndicated Loans - League Tables Criteria
Eligible Roles and Credit Allocation
Full credit is awarded to the sole bank satisfying the highest of the titles as detailed below. Credit will be awarded equally among multiple banks that share the highest title. Arrangers or bookrunners under the same parent are treated as one bank. There is no limit on the number of arranger or bookrunner titles on any syndicated loan.
Note: U.S./Canada underwriter tables are driven by the bookrunner(s). If there is no bookrunner(s) title given on a deal, all league credit is then awarded to the bank(s) holding the highest arranger title.
Bookrunner Tables
Asia-Pacific/EMEA/Latin America: Bookrunner
U.S./Canada: Bookrunner, joint bookrunner Arranger Tables
Asia-Pacific/EMEA/Latin America: Mandated lead arranger
U.S./Canada: Lead arranger, joint lead arranger Table Types Leveraged: Eligible loans will be considered for credit in the leverage tables in three instances only:
All eligible loans with non-investment grade ratings from both Moody’s and S&P (Moody’s: Ba1 and below, S&P: BB+ and below) will automatically be considered., or
Loans not specifically rated non-investment grade, but where the borrowing entity is, then loans for borrowers with Corporate Family Ratings of Ba1 or lower from Moody’s and Issuer Ratings of BB+ or lower from S&P will also be considered for leveraged tables; or
Loans will also be considered leveraged if both the loan and specific borrower are not rated but: a. The primary use of proceeds is either LBO, MBO, recapitalization, secondary buyout; or b. The loan has an equity sponsor; or c. (Margin at close) + (Higher of LIBOR Floor or current index value) + ((100.0 – OID)/4 year average life) * 100 >= 300 BPS (U.S. only).
Exclusions
Bilateral transactions.
Transactions with a maturity of less than 90 days.
Cancelled or withdrawn transactions that are not signed prior to the deal’s cancellation or withdrawal. Full versions of Bloomberg’s League Tables Standards & Guidelines can be accessed on Bloomberg Professional:
{IDOC 2065648 <GO>}: Syndicated Loans {IDOC 2016701 <GO>}: Equity {IDOC 2016703 <GO>}: Fixed Income DISCLAIMER Bloomberg L.P. Syndicated Loans League Tables represent transactions that are executed and for which Bloomberg has been notified. Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service. Accuracy Claims & Inquiries: All League Table participants have the right to examine the accuracy of League Table data as published on the Bloomberg Professional Service. All accuracy claims and inquiries must be submitted in writing and with adequate explanation and documentation. Bloomberg will investigate all accuracy claims and inquiries in a timely manner, but cannot assure completion of its investigation by the respective League Table deadline.
