GLOBAL CAPITAL MARKETS LEAGUE TABLES First 3Q 2016
First 3Q 2016 MANAGER RANKINGS GLOBAL CAPITAL MARKETS The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans, bonds, equity and M&A transactions; according to Bloomberg standards. LEAG<GO> for a full range of league tables MA<GO> for a full range of merger & acquisition tables NI LEAG CRL<GO> or http://www.bloomberg.com/ for a full range of market-specific league table publications 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. DATA SUBMISSIONS AND QUERIES Equities Fixed Income Loans Contact Irina Arefyeva Dean Psomaras Paul Bandong Phone Email +1 646 324 4663 calendar@bloomberg.net +1 609 279 3449 emeacapmkts@bloomberg.net +44 20 7330 7326 europeanloan@bloomberg.net 2015 Bloomberg Finance L.P. All rights reserved.
Global Fixed Income Review Corporate & Financial Bonds: Industry Breakdown 22% Corporate & Financial Bonds Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 6.002 197,531 1,112 1 6.856-0.854 Citi 2 5.377 176,989 1,082 3 5.086 0.291 Bank of America Merrill Lynch 3 5.260 173,129 1,077 2 5.664-0.404 Goldman Sachs 4 4.342 142,917 792 5 4.677-0.335 HSBC 5 4.252 139,956 845 8 3.899 0.353 Morgan Stanley 6 4.099 134,926 898 6 4.434-0.335 Barclays 7 3.972 130,739 810 7 4.116-0.144 Deutsche Bank 8 3.831 126,085 736 4 4.680-0.849 Wells Fargo 9 2.770 91,156 522 10 2.799-0.029 Credit Suisse 10 2.630 86,572 535 9 3.459-0.829 BNP Paribas 11 2.474 81,437 558 11 2.595-0.121 UBS 12 2.060 67,809 443 12 2.567-0.507 Mizuho Financial 13 2.028 66,740 653 16 1.338 0.690 RBC Capital Markets 14 1.858 61,167 416 13 2.017-0.159 Credit Agricole CIB 15 1.671 54,991 374 15 1.475 0.196 Societe Generale 16 1.406 46,268 333 14 1.685-0.279 China Securities Co Ltd 17 1.265 41,622 225 30 0.696 0.569 MUFG Securities 18 1.188 39,087 329 21 0.998 0.190 UniCredit 19 1.150 37,837 236 19 1.033 0.117 Sumitomo Mitsui Financial 20 1.110 36,533 368 35 0.649 0.461 TOTAL 100% 3,291,316 12,037 100% 5% 52% 5% 7% Financials 52% Industrials Consumer Discretionary 7% Energy 5% Consumer Staples 5% Others 22% Corporate & Financial Bonds: Manager Rankings History Market Share (%) 10 8 6 4 2 0 JP Morgan Citi 2016 2015 2014 Bank of America Merrill Lynch Goldman Sachs HSBC Morgan Stanley Bloomberg League Table Reports Page 1
Corporate Bonds Financial Bonds Bank of America Merrill Lynch 1 6.734 110,346 693 2 7.554-0.820 JP Morgan 2 6.554 107,401 664 1 8.083-1.529 Citi 3 6.049 99,124 645 4 5.499 0.550 Barclays 4 4.934 80,854 525 7 5.142-0.208 Deutsche Bank 5 4.883 80,028 465 3 5.738-0.855 Goldman Sachs 6 4.540 74,401 455 5 5.207-0.667 Morgan Stanley 7 4.012 65,751 530 6 5.203-1.191 HSBC 8 3.492 57,231 397 8 3.946-0.454 BNP Paribas 9 3.037 49,776 363 11 3.023 0.014 Mizuho Financial 10 2.988 48,966 465 12 2.172 0.816 Wells Fargo 11 2.804 45,955 328 9 3.410-0.606 Credit Suisse 12 2.416 39,591 277 10 3.260-0.844 RBC Capital Markets 13 2.210 36,216 262 13 2.124 0.086 MUFG Securities 14 1.875 30,719 253 14 1.737 0.138 Sumitomo Mitsui Financial 15 1.604 26,283 264 24 0.761 0.843 Societe Generale 16 1.526 25,000 193 15 1.706-0.180 Banco Santander 17 1.319 21,618 143 26 0.708 0.611 China Securities Co Ltd 18 1.279 20,957 133 52 0.297 0.982 Credit Agricole CIB 19 1.261 20,669 175 17 1.244 0.017 UBS 20 1.247 20,435 170 16 1.450-0.203 TOTAL 100% 1,638,755 4,750 100% Syndicated Government Bonds Barclays 1 9.401 113,437 326 1 9.629-0.228 HSBC 2 7.071 85,321 411 2 7.697-0.626 Citi 3 6.920 83,497 315 5 5.386 1.534 JP Morgan 4 6.882 83,044 465 4 5.554 1.328 Deutsche Bank 5 5.564 67,143 268 3 5.582-0.018 TD Securities 6 5.030 60,698 324 7 4.535 0.495 Bank of America Merrill Lynch 7 4.928 59,466 265 6 4.880 0.048 Goldman Sachs 8 4.660 56,235 197 8 4.225 0.435 Nomura 9 4.034 48,680 286 10 3.387 0.647 BNP Paribas 10 3.700 44,648 166 9 3.738-0.038 Morgan Stanley 11 2.585 31,196 222 11 3.344-0.759 Credit Agricole CIB 12 2.337 28,196 146 14 2.425-0.088 RBC Capital Markets 13 2.290 27,636 149 12 2.726-0.436 UniCredit 14 2.063 24,898 116 13 2.509-0.446 Societe Generale 15 2.026 24,443 98 18 1.718 0.308 Wells Fargo 16 1.773 21,394 283 15 2.047-0.274 Scotiabank 17 1.519 18,324 56 23 1.036 0.483 RBS 18 1.499 18,084 66 16 1.794-0.295 BMO Capital Markets 19 1.383 16,687 73 21 1.340 0.043 Daiwa Securities 20 1.369 16,519 229 19 1.397-0.028 TOTAL 100% 1,206,683 4,332 100% JP Morgan 1 5.454 90,129 448 1 5.677-0.223 HSBC 2 5.006 82,725 448 4 3.853 1.153 Citi 3 4.712 77,865 437 2 4.688 0.024 Morgan Stanley 4 4.186 69,175 368 6 3.694 0.492 Goldman Sachs 5 4.146 68,516 337 3 4.167-0.021 Bank of America Merrill Lynch 6 3.799 62,783 384 5 3.849-0.050 Barclays 7 3.019 49,884 285 10 3.129-0.110 UBS 8 2.867 47,374 273 9 3.641-0.774 Credit Suisse 9 2.843 46,981 258 8 3.649-0.806 Deutsche Bank 10 2.787 46,056 271 7 3.663-0.876 Wells Fargo 11 2.735 45,201 194 11 2.212 0.523 Credit Agricole CIB 12 2.077 34,322 199 15 1.697 0.380 BNP Paribas 13 1.916 31,661 195 12 2.184-0.268 RBC Capital Markets 14 1.510 24,950 154 13 1.914-0.404 Societe Generale 15 1.287 21,269 140 16 1.664-0.377 Guotai Junan Securities Co Ltd 16 1.274 21,051 80 26 0.913 0.361 China Securities Co Ltd 17 1.250 20,665 92 19 1.080 0.170 UniCredit 18 1.244 20,552 117 18 1.315-0.071 Natixis 19 1.214 20,054 100 17 1.490-0.276 CITIC Securities Co Ltd 20 1.213 20,046 78 14 1.903-0.690 TOTAL 100% 1,652,560 7,287 100% International Bonds JP Morgan 1 8.051 252,934 1,377 1 8.060-0.009 Citi 2 7.178 225,526 1,163 4 6.247 0.931 Barclays 3 7.055 221,661 961 2 7.040 0.015 HSBC 4 6.664 209,371 1,110 5 6.237 0.427 Bank of America Merrill Lynch 5 6.423 201,810 1,068 3 6.322 0.101 Goldman Sachs 6 5.687 178,690 816 7 5.621 0.066 Deutsche Bank 7 5.233 164,415 817 6 6.149-0.916 BNP Paribas 8 3.920 123,167 688 9 3.842 0.078 Morgan Stanley 9 3.732 117,262 604 8 4.633-0.901 Credit Agricole CIB 10 2.622 82,380 502 11 2.421 0.201 Credit Suisse 11 2.588 81,302 485 10 3.819-1.231 Wells Fargo 12 2.385 74,929 403 13 2.384 0.001 Societe Generale 13 2.224 69,863 425 12 2.404-0.180 RBC Capital Markets 14 1.984 62,345 381 15 1.937 0.047 UniCredit 15 1.970 61,880 340 16 1.850 0.120 UBS 16 1.828 57,437 319 14 2.329-0.501 TD Securities 17 1.779 55,880 261 20 1.293 0.486 Mizuho Financial 18 1.560 49,022 443 22 1.073 0.487 Nomura 19 1.450 45,560 305 19 1.382 0.068 Banco Santander 20 1.420 44,612 230 23 1.014 0.406 TOTAL 100% 3,141,832 7,530 100% Bloomberg League Table Reports Page 2
Corporate High Yield Bonds Global Bonds Bank of America Merrill Lynch 1 7.030 23,832 204 3 7.034-0.004 Citi 2 6.750 22,883 172 2 7.260-0.510 JP Morgan 3 6.663 22,588 216 1 7.767-1.104 Goldman Sachs 4 6.531 22,140 159 4 6.985-0.454 Deutsche Bank 5 6.521 22,108 165 5 6.543-0.022 Barclays 6 6.035 20,459 158 7 5.491 0.544 Credit Suisse 7 4.998 16,943 144 8 5.259-0.261 Morgan Stanley 8 3.716 12,598 113 6 5.925-2.209 Guotai Junan Securities Co Ltd 9 2.869 9,728 20 43 0.350 2.519 Wells Fargo 10 2.831 9,597 95 10 3.115-0.284 UBS 11 2.713 9,196 56 9 3.165-0.452 HSBC 12 2.652 8,989 85 12 2.425 0.227 RBC Capital Markets 13 2.091 7,088 76 11 3.071-0.980 China Securities Co Ltd 14 2.082 7,059 17 27 0.704 1.378 CITIC Securities Co Ltd 15 1.826 6,189 14 20 1.093 0.733 BNP Paribas 16 1.651 5,598 67 13 2.068-0.417 Credit Agricole CIB 17 1.603 5,433 48 14 1.627-0.024 Industrial & Comm Bank of China 18 1.274 4,319 10 22 0.937 0.337 ING Groep 19 1.196 4,056 48 25 0.750 0.446 SunTrust Robinson Humphrey 20 1.102 3,737 39 18 1.386-0.284 TOTAL 100% 339,007 800 100% JP Morgan 1 11.078 124,230 532 1 11.482-0.404 Bank of America Merrill Lynch 2 9.395 105,356 463 3 9.820-0.425 Citi 3 9.158 102,700 400 5 8.108 1.050 Barclays 4 8.880 99,587 300 2 10.069-1.189 Goldman Sachs 5 7.033 78,875 288 4 8.199-1.166 HSBC 6 6.371 71,452 200 9 5.350 1.021 Morgan Stanley 7 5.679 63,685 247 6 7.841-2.162 Wells Fargo 8 5.076 56,922 254 8 5.894-0.818 Deutsche Bank 9 4.880 54,725 200 7 5.904-1.024 TD Securities 10 3.635 40,770 122 11 3.110 0.525 RBC Capital Markets 11 3.222 36,131 158 12 2.836 0.386 BNP Paribas 12 3.134 35,146 156 13 2.442 0.692 Mizuho Financial 13 2.506 28,104 186 15 1.666 0.840 Nomura 14 2.087 23,402 48 17 1.265 0.822 Credit Suisse 15 1.687 18,924 90 10 3.377-1.690 MUFG Securities 16 1.554 17,430 113 16 1.414 0.140 US Bancorp 17 1.056 11,845 82 21 0.732 0.324 BMO Capital Markets 18 1.013 11,358 38 18 0.905 0.108 Sumitomo Mitsui Financial 19 0.976 10,945 66 25 0.455 0.521 Scotiabank 20 0.941 10,556 45 19 0.896 0.045 TOTAL 100% 1,121,460 1,268 100% Bloomberg League Table Reports Page 3
Global Equity Review Global Equity, Equity Linked & Rights Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 10.084 40,623 240 3 8.465 1.619 Morgan Stanley 2 8.172 32,921 191 2 8.546-0.374 Goldman Sachs 3 7.984 32,162 186 1 9.435-1.451 Bank of America Merrill Lynch 4 6.718 27,064 176 5 6.431 0.287 Citi 5 5.379 21,670 158 6 5.748-0.369 Credit Suisse 6 5.231 21,074 156 7 5.490-0.259 Deutsche Bank 7 5.118 20,619 111 8 5.166-0.048 UBS 8 3.694 14,879 119 4 6.852-3.158 Barclays 9 3.686 14,850 107 9 4.140-0.454 RBC Capital Markets 10 2.361 9,513 101 10 2.014 0.347 Wells Fargo 11 1.923 7,746 90 11 1.703 0.220 Nomura 12 1.692 6,818 69 12 1.655 0.037 TD Securities 13 1.361 5,483 38 31 0.424 0.937 BMO Capital Markets 14 1.349 5,436 75 18 0.817 0.532 BNP Paribas 15 1.191 4,796 41 17 1.037 0.154 Mizuho Financial 16 1.126 4,534 49 19 0.774 0.352 Jefferies 17 1.096 4,417 70 15 1.225-0.129 HSBC 18 0.979 3,942 31 13 1.393-0.414 CIBC 19 0.924 3,721 32 32 0.412 0.512 Societe Generale 20 0.809 3,260 37 16 1.074-0.265 TOTAL 100% 402,847 2,655 100% Global Equity, Equity Linked & Rights: Industry Breakdown Financials 29% Energy 14% Consumer Discretionary 10% Health Care Technology Industrials 7% Materials 7% Communications 6% Utilities 6% Others 5% Global Equity, Equity Linked & Rights: Manager Rankings History Market Share (%) 15 10 5 7% 7% 6% 6% 5% 10% 29% 14% 2016 2015 2014 This table consists of equity, equity-linked & rights offerings issued globally. This excludes bonds with warrants, closed-end fund or investment trust issuers, credit linked notes, qualified investor placements (QIP), reverse convertibles and self-led transactions. The thresholds include 12 month minimum call, put & maturity periods. Please see League Table Standards and Guidelines for further details. 0 JP Morgan Morgan Stanley Goldman Sachs Bank of America Merrill Lynch Citi Credit Suisse Bloomberg League Table Reports Page 4
Global Equity & Equity Linked Global Equity Offerings JP Morgan 1 10.377 38,897 233 3 8.403 1.974 Morgan Stanley 2 8.662 32,470 187 2 8.483 0.179 Goldman Sachs 3 8.188 30,695 178 1 9.452-1.264 Bank of America Merrill Lynch 4 6.652 24,936 170 5 6.418 0.234 Citi 5 5.527 20,719 153 6 5.980-0.453 Credit Suisse 6 5.374 20,146 145 7 5.527-0.153 Deutsche Bank 7 5.244 19,658 106 8 5.285-0.041 Barclays 8 3.690 13,832 101 9 4.224-0.534 UBS 9 3.654 13,696 108 4 6.502-2.848 RBC Capital Markets 10 2.497 9,360 100 10 2.169 0.328 Wells Fargo 11 2.066 7,746 90 11 1.834 0.232 Nomura 12 1.803 6,759 68 12 1.756 0.047 TD Securities 13 1.463 5,483 38 28 0.450 1.013 BMO Capital Markets 14 1.450 5,436 75 17 0.878 0.572 Mizuho Financial 15 1.210 4,534 49 19 0.833 0.377 BNP Paribas 16 1.129 4,233 33 18 0.857 0.272 Jefferies 17 1.059 3,969 68 14 1.319-0.260 CIBC 18 0.993 3,721 32 30 0.444 0.549 HSBC 19 0.868 3,253 24 13 1.398-0.530 Scotiabank 20 0.845 3,169 32 23 0.527 0.318 TOTAL 100% 374,857 2,498 100% Global Equity IPO JP Morgan 1 5.962 4,965 44 2 4.917 1.045 Morgan Stanley 2 5.749 4,788 42 1 6.621-0.872 Goldman Sachs 3 5.034 4,193 41 3 4.802 0.232 Citi 4 4.775 3,977 40 4 4.720 0.055 Deutsche Bank 5 4.468 3,721 32 5 4.707-0.239 Bank of America Merrill Lynch 6 3.917 3,262 35 7 4.394-0.477 UBS 7 2.873 2,392 22 6 4.618-1.745 China Securities Co Ltd 8 2.411 2,008 14 29 0.813 1.598 Credit Suisse 9 2.388 1,989 28 8 2.855-0.467 Nomura 10 2.190 1,824 20 24 0.905 1.285 CITIC Securities Co Ltd 11 1.867 1,555 17 12 1.654 0.213 China International Capital Corp 12 1.741 1,450 13 25 0.893 0.848 Barclays 13 1.678 1,398 20 10 2.440-0.762 Bank of China 14 1.622 1,351 7 38 0.656 0.966 Nordea 15 1.375 1,145 6 105 0.134 1.241 Haitong Securities Co Ltd 16 1.335 1,111 16 30 0.809 0.526 China Merchants Securities 17 1.277 1,063 13 18 1.180 0.097 Hengtai Securities Co Ltd 18 1.249 1,040 8 - - - Mizuho Financial 19 1.234 1,028 17 115 0.103 1.131 Essence Securities Co Ltd 20 1.192 993 8 88 0.187 1.005 TOTAL 100% 83,283 730 100% JP Morgan 1 10.074 31,539 187 3 7.579 2.495 Goldman Sachs 2 8.142 25,493 152 1 10.205-2.063 Morgan Stanley 3 7.919 24,795 164 2 8.762-0.843 Bank of America Merrill Lynch 4 7.215 22,590 151 5 6.135 1.080 Credit Suisse 5 5.735 17,955 130 7 5.621 0.114 Citi 6 5.656 17,708 131 6 6.076-0.420 Barclays 7 4.087 12,797 94 9 3.912 0.175 UBS 8 4.072 12,750 100 4 7.177-3.105 Deutsche Bank 9 3.716 11,636 88 8 5.185-1.469 RBC Capital Markets 10 2.713 8,494 87 10 2.071 0.642 Wells Fargo 11 1.947 6,095 75 12 1.425 0.522 TD Securities 12 1.733 5,426 35 32 0.441 1.292 BMO Capital Markets 13 1.642 5,142 67 17 0.800 0.842 Nomura 14 1.231 3,853 57 11 1.448-0.217 Jefferies 15 1.193 3,736 65 13 1.328-0.135 CIBC 16 1.008 3,156 25 31 0.460 0.548 Mizuho Financial 17 0.936 2,932 41 23 0.560 0.376 Sumitomo Mitsui Financial 18 0.869 2,721 36 19 0.669 0.200 Macquarie 19 0.798 2,499 36 15 1.113-0.315 Scotiabank 20 0.797 2,496 26 28 0.485 0.312 TOTAL 100% 313,091 2,270 100% Global Equity Linked Deutsche Bank 1 12.988 8,022 18 5 6.041 6.947 Morgan Stanley 2 12.426 7,675 23 4 6.354 6.072 JP Morgan 3 11.913 7,358 46 1 14.690-2.777 Goldman Sachs 4 8.423 5,202 26 10 3.696 4.727 Citi 5 4.874 3,011 22 6 5.248-0.374 BNP Paribas 6 4.733 2,923 22 11 3.079 1.654 Nomura 7 4.704 2,905 11 9 4.113 0.591 Bank of America Merrill Lynch 8 3.797 2,345 19 2 8.579-4.782 Credit Suisse 9 3.547 2,191 15 8 4.809-1.262 Wells Fargo 10 2.673 1,651 15 7 4.954-2.281 Mizuho Financial 11 2.594 1,602 8 12 2.921-0.327 Credit Agricole CIB 12 1.888 1,166 12 23 0.755 1.133 HSBC 13 1.752 1,082 8 14 2.488-0.736 Barclays 14 1.677 1,036 7 3 6.606-4.929 UBS 15 1.530 945 8 18 1.348 0.182 Societe Generale 16 1.410 871 12 15 2.203-0.793 RBC Capital Markets 17 1.402 866 13 13 2.915-1.513 Scotiabank 18 1.088 672 6 22 0.849 0.239 China International Capital Corp 19 1.018 629 4 - - - CIBC 20 0.916 566 7 36 0.324 0.592 TOTAL 100% 61,765 228 100% Bloomberg League Table Reports Page 5
Global Loans Review Global Loans: Industry Breakdown 6% Global Loans Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 10.624 239,617 770 2 9.370 1.254 Bank of America Merrill Lynch 2 9.787 220,735 839 1 9.514 0.273 Citi 3 6.477 146,070 462 3 6.502-0.025 Wells Fargo 4 6.057 136,603 599 4 5.272 0.785 Deutsche Bank 5 3.521 79,423 288 7 3.134 0.387 Barclays 6 3.412 76,957 322 6 3.215 0.197 HSBC 7 3.039 68,541 285 5 3.497-0.458 MUFG Securities 8 2.942 66,360 264 8 3.013-0.071 BNP Paribas 9 2.791 62,950 314 10 2.892-0.101 Goldman Sachs 10 2.424 54,669 228 9 2.993-0.569 RBC Capital Markets 11 2.416 54,481 212 11 2.694-0.278 Credit Suisse 12 2.378 53,625 200 13 2.314 0.064 Bank of China 13 2.060 46,468 190 19 1.360 0.700 Morgan Stanley 14 1.991 44,916 159 12 2.650-0.659 Mizuho Financial 15 1.790 40,375 188 16 1.644 0.146 BMO Capital Markets 16 1.478 33,325 210 25 1.109 0.369 Scotiabank 17 1.460 32,925 127 14 1.738-0.278 UniCredit 18 1.441 32,497 166 28 1.025 0.416 Credit Agricole CIB 19 1.438 32,428 197 15 1.672-0.234 TD Securities 20 1.409 31,770 130 24 1.182 0.227 TOTAL 100% 2,255,384 4,153 100% Market Share (%) 6% 20% 7% 15% 12% Financials 20% Consumer Discretionary 15% Industrials 12% Energy Health Care Materials Technology Consumer Staples 7% Utilities 6% Communications 6% Others 1% Global Loans: Bookrunner Rankings History 2016 2015 2014 15 10 5 This table consists of loans syndicated globally. This excludes bilateral loans. There is a minimum threshold of 3 months for maturities. Please see League Table Standards and Guidelines for further details. 0 JP Morgan Bank of America Merrill Lynch Citi Wells Fargo Deutsche Bank Barclays Bloomberg League Table Reports Page 6
Global Loans (Bookrunner) Global Loans (Mandated Lead Arranger) JP Morgan 1 10.624 239,617 770 2 9.370 1.254 Bank of America Merrill Lynch 2 9.787 220,735 839 1 9.514 0.273 Citi 3 6.477 146,070 462 3 6.502-0.025 Wells Fargo 4 6.057 136,603 599 4 5.272 0.785 Deutsche Bank 5 3.521 79,423 288 7 3.134 0.387 Barclays 6 3.412 76,957 322 6 3.215 0.197 HSBC 7 3.039 68,541 285 5 3.497-0.458 MUFG Securities 8 2.942 66,360 264 8 3.013-0.071 BNP Paribas 9 2.791 62,950 314 10 2.892-0.101 Goldman Sachs 10 2.424 54,669 228 9 2.993-0.569 RBC Capital Markets 11 2.416 54,481 212 11 2.694-0.278 Credit Suisse 12 2.378 53,625 200 13 2.314 0.064 Bank of China 13 2.060 46,468 190 19 1.360 0.700 Morgan Stanley 14 1.991 44,916 159 12 2.650-0.659 Mizuho Financial 15 1.790 40,375 188 16 1.644 0.146 BMO Capital Markets 16 1.478 33,325 210 25 1.109 0.369 Scotiabank 17 1.460 32,925 127 14 1.738-0.278 UniCredit 18 1.441 32,497 166 28 1.025 0.416 Credit Agricole CIB 19 1.438 32,428 197 15 1.672-0.234 TD Securities 20 1.409 31,770 130 24 1.182 0.227 TOTAL 100% 2,255,384 4,153 100% Global Sponsor-Led Loans (Bookrunner) Bank of America Merrill Lynch 1 7.809 21,229 116 1 6.886 0.923 Goldman Sachs 2 6.823 18,548 91 2 6.818 0.005 Credit Suisse 3 5.985 16,270 98 6 6.048-0.063 Barclays 4 5.862 15,935 95 5 6.217-0.355 Deutsche Bank 5 5.725 15,564 94 4 6.385-0.660 Morgan Stanley 6 5.033 13,682 67 7 4.988 0.045 Citi 7 4.622 12,566 59 8 4.699-0.077 JP Morgan 8 4.514 12,271 71 3 6.487-1.973 Wells Fargo 9 3.413 9,278 54 11 3.988-0.575 UBS 10 3.293 8,951 50 12 2.266 1.027 BNP Paribas 11 2.832 7,699 59 15 2.078 0.754 RBC Capital Markets 12 2.783 7,565 54 9 4.539-1.756 Jefferies 13 2.693 7,320 51 10 4.007-1.314 Antares Capital LP 14 2.395 6,511 92 21 1.313 1.082 HSBC 15 2.149 5,841 39 17 1.860 0.289 SunTrust Robinson Humphrey 16 2.032 5,525 41 14 2.162-0.130 UniCredit 17 1.878 5,106 39 20 1.417 0.461 Macquarie 18 1.712 4,653 30 13 2.190-0.478 BMO Capital Markets 19 1.619 4,402 55 18 1.812-0.193 Nomura 20 1.485 4,036 23 16 2.056-0.571 TOTAL 100% 271,846 674 100% JP Morgan 1 10.122 259,667 840 1 8.274 1.848 Bank of America Merrill Lynch 2 9.126 234,099 910 2 8.211 0.915 Citi 3 5.997 153,836 543 3 6.125-0.128 Wells Fargo 4 5.177 132,795 647 4 4.578 0.599 MUFG Securities 5 3.230 82,852 403 7 3.022 0.208 HSBC 6 3.130 80,293 456 5 3.411-0.281 Deutsche Bank 7 3.078 78,956 338 8 2.739 0.339 Barclays 8 2.915 74,766 394 6 3.266-0.351 Goldman Sachs 9 2.608 66,891 243 11 2.495 0.113 BNP Paribas 10 2.402 61,611 447 9 2.671-0.269 Credit Suisse 11 2.305 59,139 217 13 2.081 0.224 Bank of China 12 2.246 57,605 294 17 1.548 0.698 RBC Capital Markets 13 2.111 54,151 247 10 2.519-0.408 Mizuho Financial 14 1.951 50,047 287 14 1.865 0.086 Morgan Stanley 15 1.568 40,223 174 12 2.292-0.724 Credit Agricole CIB 16 1.487 38,141 312 16 1.683-0.196 Scotiabank 17 1.449 37,159 162 18 1.522-0.073 BMO Capital Markets 18 1.428 36,626 248 25 1.143 0.285 Sumitomo Mitsui Financial 19 1.413 36,253 223 15 1.696-0.283 ING Groep 20 1.319 33,833 344 19 1.461-0.142 TOTAL 100% 2,565,267 4,838 100% Global Sponsor-Led Loans (Mandated Lead Arranger) Bank of America Merrill Lynch 1 7.573 21,200 115 4 5.976 1.597 Goldman Sachs 2 6.470 18,111 89 1 6.263 0.207 Barclays 3 5.534 15,492 94 5 5.824-0.290 Deutsche Bank 4 5.498 15,391 95 3 6.101-0.603 Credit Suisse 5 5.370 15,033 99 6 5.667-0.297 Morgan Stanley 6 5.016 14,042 66 9 4.752 0.264 JP Morgan 7 4.695 13,144 73 2 6.193-1.498 Citi 8 4.035 11,297 60 8 4.801-0.766 UBS 9 3.419 9,572 51 12 2.126 1.293 Wells Fargo 10 3.213 8,993 56 10 3.927-0.714 RBC Capital Markets 11 2.852 7,983 58 7 4.959-2.107 Jefferies 12 2.840 7,951 53 11 3.820-0.980 Antares Capital LP 13 2.420 6,775 101 20 1.336 1.084 BNP Paribas 14 2.225 6,227 66 16 1.873 0.352 SunTrust Robinson Humphrey 15 2.105 5,892 42 13 2.110-0.005 HSBC 16 1.936 5,419 48 15 2.015-0.079 ING Groep 17 1.700 4,758 66 23 1.094 0.606 BMO Capital Markets 18 1.697 4,752 65 18 1.714-0.017 Macquarie 19 1.671 4,678 31 14 2.069-0.398 Nomura 20 1.492 4,177 25 17 1.845-0.353 TOTAL 100% 279,939 736 100% Bloomberg League Table Reports Page 7
Global Bridge Loans (Bookrunner) Global Bridge Loans (Mandated Lead Arranger) JP Morgan 1 11.675 12,466 11 4 8.000 3.675 Bank of America Merrill Lynch 2 11.570 12,355 6 6 5.565 6.005 Barclays 3 10.461 11,170 7 11 2.461 8.000 Morgan Stanley 4 8.517 9,094 2 1 14.251-5.734 Citi 5 8.204 8,760 4 3 11.749-3.545 Deutsche Bank 6 8.047 8,592 4 10 3.786 4.261 BNP Paribas 7 6.882 7,348 8 13 2.087 4.795 Goldman Sachs 8 5.109 5,455 4 2 13.175-8.066 Credit Suisse 9 4.800 5,125 2 8 3.990 0.810 HSBC 10 4.380 4,677 6 5 7.259-2.879 UniCredit 11 4.290 4,581 7 14 1.677 2.613 Rabobank 12 3.760 4,015 2 26 0.472 3.288 TD Securities 13 1.967 2,101 2 58 0.026 1.941 Wells Fargo 14 1.707 1,823 2 20 1.038 0.669 RBC Capital Markets 15 1.677 1,790 2 16 1.543 0.134 MUFG Securities 16 1.223 1,306 4 7 5.176-3.953 Credit Agricole CIB 17 0.910 971 7 22 0.637 0.273 Natixis 18 0.576 615 5 32 0.184 0.392 Societe Generale 19 0.483 516 3 25 0.479 0.004 Commerzbank 20 0.384 410 3 31 0.220 0.164 TOTAL 100% 106,779 44 100% Bank of America Merrill Lynch 1 13.752 25,554 11 4 6.507 7.245 JP Morgan 2 11.818 21,959 16 9 3.382 8.436 Goldman Sachs 3 9.350 17,374 7 3 9.188 0.162 HSBC 4 8.174 15,188 15 7 3.673 4.501 Credit Suisse 5 8.048 14,954 5 8 3.393 4.655 Citi 6 5.674 10,543 11 1 11.786-6.112 Deutsche Bank 7 5.042 9,369 7 14 2.183 2.859 MUFG Securities 8 2.826 5,251 13 5 6.156-3.330 Scotiabank 9 2.199 4,086 4 54 0.106 2.093 Banco Santander 10 2.083 3,870 9 20 1.515 0.568 Barclays 11 2.052 3,813 8 6 3.939-1.887 BNP Paribas 12 1.885 3,504 14 11 3.248-1.363 RBC Capital Markets 13 1.682 3,125 4 16 1.777-0.095 Mizuho Financial 14 1.477 2,744 10 12 2.723-1.246 Credit Agricole CIB 15 1.442 2,680 16 21 1.427 0.015 DBS Group 16 1.431 2,658 8 33 0.427 1.004 RBS 17 1.364 2,535 5 19 1.587-0.223 Bank of China 18 1.342 2,493 8 40 0.265 1.077 Commerzbank 19 1.323 2,458 7 17 1.742-0.419 TD Securities 20 1.130 2,101 2 56 0.104 1.026 TOTAL 100% 185,820 68 100% Bloomberg League Table Reports Page 8
League Tables Criteria General Guidelines Credit is based on the total amount of the offering sold to the public. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless a full, explicit breakdown of bookrunning is provided by an involved party. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/incorporation. Fixed Income All transaction must have a maturity or a call/put option of minimum 18 month. Make-whole calls, provisional calls/puts are exempt from this rule. Note: criteria may vary for some local and/or regional tables. USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche. New money portions of exchange offers are eligible for credit. Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: criteria may vary for some local and/or regional tables. Equities-Linked Equity-linked transactions: convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/puttable in 12 months or longer are included. Make-whole calls, provisional calls, and provisional puts are exempt from this rule. Convertible bonds with attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond. Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-ipo convertible instruments, certain lower hierarch titles, i.e. Jr Bookrunner. 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.
League Tables Criteria Equities Equity market transactions: initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings. Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarch titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional table. Loans Includes executed syndicated loans transactions. Full credit is awarded to the sole bank satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless a full, explicit breakdown of bookrunning is provided by an involved party. 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 to following structural changes only: three months or more maturity extensions, incremental basis for increased in deal size, reduction in pricing, full release of security. Exclusions: Bilateral transactions, Transactions with a maturity of less than three months. This three month period is defined as the difference between the signing date and the maturity date calculated using a 30 day month, Loans withdrawn prior to signing, Amended/Restated (A/R) securitizations, and receivable or guarantee facilities. The full version of Bloomberg s League table Standards & Guidelines can be accessed and subscribed to on the Reports tab on LEAG<GO>. 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.