GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS First Nine Months 20
Syndicated Loans Review Table of Contents Global Syndicated Loans Rankings Americas Syndicated Loans Rankings EMEA Syndicated Loans Rankings Asia Pacific (Excl. Japan) Syndicated Loans Rankings Japan Syndicated Loans Rankings Ranking Criteria Summary Thomson ONE for Investment Banking 1-3 4-6 7-8 9-11-12 13 14 ttps://www.thomsonone.com
First Nine Months 20 MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Volume Stands at US$1.8 Trillion I BHP Billiton's US$45 billion Acquisition Financing is Largest Deal I YTD Lending Level with Full Year 2009 Total Global Deals Intelligence Global Syndicated Loans Volume Jan 1 - Sep 30 Global syndicated lending for the first nine months of 20 reached US$1.8 trillion, representing a 35% increase from the same period last year while the number of deals increased by 18%, as well. Year-to-date fundraising was approximately level with that of the full year for 2009. However, lending slowed during the third quarter as the volume declined by 15% compared to the previous quarter. $6 $5 Q4 Volume (US$t) Q3 Volume (US$t) Q2 Volume (US$t) Q1 Volume (US$t),000 9,000 8,000 North America comprised 43.7% of global volume year-to-date as lending in the region increased by 66.7% over the same period last year while Central and South America volumes declined by 85.6% and 30%, respectively. Europe and Asia-Pacific accounted for 29.4% and 13% of global volumes as lending increased by 15.2% and 51.1%, respectively. Japanese fundraising declined by 1.5% to US$198.5 billion, or an 11% market share. Proceeds (US$t) $4 $3 $2 7,000 6,000 5,000 4,000 3,000 The largest transaction year-to-date was syndicated in August to fund BHP Billiton s acquisition of Potash Corp. The US$45 billion multi-tranche facility was a clubbed transaction. $1 2,000 1,000 2004 2005 2006 2007 2008 2009 20 0 Global Loans (R1) Global Loans (R1) - Underwritten Volume # of Deals per Imputed Fees (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Bank of America Merrill Lynch 1 2 163,645.8 11.0 3.0 668 15.6 +249 672.7 11.7 2.1 JP Morgan 1 1 166,631.7 11.0 1.7 411 9.4 +171 469.4 8.2 1.1 JP Morgan 2 1 161,232.0.8 1.8 405 9.5 +165 469.4 8.2 0.5 Bank of America Merrill Lynch 2 2 165,000.7.9 2.5 675 15.5 +249 672.7 11.7 2.1 Citi 3 3 92,273.6 6.2-0.5 217 5.1 +68 227.5 4.0 2.2 Citi 3 3 92,400.6 6.1-0.6 218 5.0 +67 227.5 4.0 2.2 Mizuho Financial Group 4 5 84,028.6 5.7-0.3 483 11.3 +32 260.5 4.5 0.1 Mizuho Financial Group 4 4 83,941.1 5.5-0.7 484 11.1 +33 260.5 4.5 0.1 Mitsubishi UFJ Financial Group 5 4 70,421.8 4.7-1.5 573 13.4-43 258.7 4.5 0.7 Mitsubishi UFJ Financial Group 5 5 70,821.4 4.7-1.4 573 13.1-44 258.1 4.5 0.7 Wells Fargo & Co 6 9 60,455.3 4.1 1.1 326 7.6 +93 268.1 4.7 0.7 Wells Fargo & Co 6 8 62,799.7 4.1 0.9 343 7.9 +98 268.1 4.7 0.7 BNP Paribas SA 7 7 51,931.1 3.5-0.9 227 5.3 +35 166.3 2.9 1.3 BNP Paribas SA 7 7 53,757.7 3.5-0.6 229 5.2 +38 166.3 2.9 1.3 Sumitomo Mitsui Finl Grp Inc 8 6 50,560.7 3.4-2.3 395 9.2-52 181.4 3.2 1.5 Sumitomo Mitsui Finl Grp Inc 8 6 50,846.6 3.4-2.5 395 9.0-53 181.4 3.2 1.5 Deutsche Bank AG 9 13 47,834.5 3.2 1.2 152 3.5 +84 248.2 4.3 2.0 Deutsche Bank AG 9 12 48,651.9 3.2 1.0 153 3.5 +83 248.2 4.3 2.0 Barclays Capital 37,175.4 2.5-0.4 141 3.3 +63 212.5 3.7 0.6 Barclays Capital 37,826.6 2.5 0.0 143 3.3 +67 209.4 3.7 0.6 RBS 11 8 36,746.2 2.5-1.0 153 3.6 +25 127.2 2.2 1.7 RBS 11 9 37,009.0 2.4-0.8 159 3.6 +31 127.2 2.2 1.7 Credit Agricole CIB 12 11 33,887.3 2.3-0.3 152 3.5 +22 116.2 2.0 0.2 Credit Agricole CIB 12 11 34,384.1 2.3-0.1 153 3.5 +25 113.1 2.0 0.2 State Bank of India 13 14 29,941.5 2.0 0.1 60 1.4 +21 54.2 0.9 0.1 State Bank of India 13 13 30,368.4 2.0-0.1 60 1.4 +20 54.2 0.9 0.1 Societe Generale 14 12 28,573.7 1.9-0.3 120 2.8 +39 1.1 1.8 0.3 Societe Generale 14 15 28,516.6 1.9 0.2 119 2.7 +41 1.1 1.8 0.3 HSBC Holdings PLC 15 17 24,421.5 1.6 0.1 120 2.8 +40 92.6 1.6 0.3 HSBC Holdings PLC 15 19 24,917.4 1.6 0.4 122 2.8 +44 92.6 1.6 0.3 Credit Suisse 16 27 21,674.6 1.5 0.6 80 1.9 +41 153.5 2.7 1.2 Credit Suisse 16 26 21,674.6 1.4 0.5 80 1.8 +41 153.5 2.7 1.2 RBC Capital Markets 17 18 16,045.4 1.1-0.3 77 1.8 +25 94.0 1.6 0.2 RBC Capital Markets 17 16 17,015.2 1.1-0.4 77 1.8 +27 94.0 1.6 0.2 TD Securities Inc 18 22 15,914.7 1.1 0.0-51 1.2 0-34.3 0.6 0.3 ING 18 27 16,959.6 1.1 0.2 91 2.1 +38 69.6 1.2 0.2 Scotiabank-Bank of Nova Scotia 19 20 15,416.0 1.0-0.2 76 1.8 +21 58.0 1.0 0.4 Scotiabank-Bank of Nova Scotia 19 17 16,247.7 1.1-0.2 83 1.9 +25 58.0 1.0 0.4 Goldman Sachs & Co 20 30 15,296.2 1.0 0.3 36 0.8 +23 97.5 1.7 0.5 TD Securities Inc 20 20 15,998.0 1.1-0.1 52 1.2 0-34.3 0.6 0.3 Morgan Stanley 21 35 14,479.5 1.0 0.4 43 1.0 +30 93.9 1.6 1.3 Goldman Sachs & Co 21 30 15,296.2 1.0 0.3 36 0.8 +22 97.5 1.7 0.5 Bank of Taiwan 22 86 14,235.0 1.0 0.9 45 1.1 +15 12.6 0.2 0.2 Morgan Stanley 22 35 14,837.8 1.0 0.4 44 1.0 +30 93.9 1.6 1.3 ING 23 21 14,221.3 1.0-0.2 86 2.0 +32 69.6 1.2 0.2 Bank of Taiwan 23 86 14,091.8 0.9 0.8 43 1.0 +12 12.6 0.2 0.2 Natixis 24 32 13,426.9 0.9 0.3 62 1.4 +27 39.1 0.7 0.0 - Natixis 24 32 13,369.8 0.9 0.2 61 1.4 +26 39.1 0.7 0.0 - CIBC World Markets Inc 25 42 12,994.9 0.9 0.4 55 1.3 +28 26.0 0.5 0.0 - CIBC World Markets Inc 25 38 13,356.2 0.9 0.4 57 1.3 +26 26.0 0.5 0.0 - Top Twenty Five Total 1,126,833.5 75.9 2.0 4,135.1 72.0 0.4 Top Twenty Five Total 1,146,720.4 75.6 2.0 2,961.6 51.7-1.5 Total 1,488,350.9 0.0 4,285 +633 5,745.1 0.0 Total 1,518,1.0 0.0 4,366 +679 5,745.1 0.0 Industry % Change from Same Period Last Year 34.0% 17.3% Industry % Change from Last Quarter -20.0% 8.2% 22.0% -8.4% Industry % Change from Same Period Last Year Industry % Change from Last Quarter 41.1% -22.1% 18.4% 6.8% 31.6% -8.4% 1
Global Leading Underwriters During the Third Quarter 20 Scorecard: Global Syndicated Loans Current Qtr Mkt. Share 1/1/20-9/30/20 1/1/2009-9/30/2009 Market Share Chg. from Last % Chge in Market Sector Global Loans (R1) No. 1 Manager Bank of America Merrill Lynch (%) 11.0 Qtr (%) -2.3 Region/Nation Global Proceeds (US$m) 1,803,201.3 4,9 Proceeds (US$m) 1,337,6.7 4,158 Proceeds 34.9 Americas Loans (R7) Bank of America Merrill Lynch 19.7-1.0 Americas 788,985.1 1,937 473,345.2 1,377 66.7 North American Loans (R9) Bank of America Merrill Lynch 19.9-1.0 North America 779,729.0 1,903 441,333.6 1,329 76.7 US Loans (R11) Bank of America Merrill Lynch 21.7-1.6 of America 713,329.2 1,693 388,256.3 1,161 83.7 US Leveraged Loans (R11a) Bank of America Merrill Lynch 22.8-2.2 Canada 66,399.8 211 53,077.3 168 25.1 US Investment Grade Loans (R11b) JP Morgan 28.3-0.7 Central America 3,600.1 12 25,014.8 14-85.6 Latin America Loans (R15) Citi 12 0.7 Mexico 3,150.1 24,504.8 12-87.1 Latin America Loans (R16) Mizuho Financial Group 9.8-2.6 South America 4,667.2 18 6,669.8 32-30.0 EMEA Loans (R17) BNP Paribas SA 7.7-2.8 Brazil 3,936.2 13 4,330.0 16-9.1 EMEA Leveraged Loans (P) BBVA 13.6 13.0 Chile 256.0 2 1,384.5 8-81.5 Asia-Pacific ex. Japan ex. Australia (S5b) State Bank of India 16.0 3.9 Caribbean 988.8 4 327.0 2 202.4 Asia-Pacific ex. Japan ex. Australia (S5c) Japan Loans (S12a) State Bank of India Mizuho Financial Group 24.5 39.1 6.2-3.5 Jamaica Europe 584.8 531,175.0 1 705-461,151.5-676 - 15.2 - Japan Loans (S12b) Mizuho Financial Group 43.3 0.2 Western Europe 490,544.0 627 434,227.2 620 13.0 Australian Loans (S7) Commonwealth Bank of Australia 23.7 9.1 United Kingdom 136,139.3 129 66,665.5 111 4.2 France 85,969.9 3 71,584.9 85 20.1 Spain 74,778.3 118 87,294.5 149-14.3 Germany Italy 48,803.0 29,803.1 64 62 69,874.8 19,690.1 53 56-30.2 51.4 Belgium 27,909.6 17,853.7 12 157.1 Netherlands 20,465.3 33 26,026.9 40-21.4 Top 25 Global Syndicated Loans Switzerland 16,631.5 18,811.8 12-11.6 Package Amt Luxembourg 12,260.7 13 17,174.4 7-28.6 Closing Date Borrower Target Market (US$m) Primary UOP Denmark 9,233.6 7 4,638.7 6 99.1 9/17/20 BHP Billiton PLC United Kingdom 45,000.0 Acquisition Fin. Sweden 7,856.2 15 12,653.6 6-37.9 5/19/20 General Electric Capital Corp 20,917.5 Standby/CP Support Eastern Europe 40,631.0 78 26,924.3 56 50.9 4/19/20 3/24/20 Enel SpA Anheuser-Busch Inbev Italy Belgium 13,491.6 13,000.0 Russian Federation Turkey 23,480.7,426.5 32 19 9,219.5 9,771.1 11 20 154.7 6.7 1/8/20 Taiwan High Speed Rail Corp Taiwan 12,005.1 Poland 2,499.7 9 1,017.4 3 145.7 6/9/20 4/16/20 7/28/20 Wal-Mart Stores Inc Alstom Holdings Telefonica SA France Spain 11,225.0 11,173.4,392.3 Refinancing Acquisition Fin. Hungary Africa/Middle East/Central Asia Middle East 1,178.7 50,549.9 30,446.1 5 64 34 579.0 46,223.8 30,745.0 2 72 35 3.6 9.4-1.0 9/22/20 Johnson & Johnson,000.0 Standby/CP Support United Arab Emirates 11,999.2 14 17,258.1 17 - - 5//20 Glencore International AG Switzerland 9,745.0 Saudi Arabia 8,822.3 6 5,666.4 3 55.7 7/6/20 Sanofi-Aventis SA France 8,838.4 North Africa 8,3.5 3,8.5 8 160.7 4/7/20 Ally Bank 7,000.0 General Corp. Purp. Egypt 8,3.5 1,883.7 6 330.2 9/23/20 AP Moller AS Denmark 6,750.0 Sub-Saharan Africa 11,900.2 19 12,099.3 26-1.6 3/31/20 Air Products & Chemicals Inc 6,724.0 Acquisition Fin. Angola 3,000.0 1 1,500.0 1 0.0 5/12/20 INEOS Group Ltd United Kingdom 6,718.0 Refinancing Nigeria 2,363.5 4 764.2 4 209.3 5/17/20 Depository Trust Co 6,537.0 South Africa 2,022.8 3 3,883.7 - - 6/9/20 PPL Corp 6,500.0 Acquisition Fin. Central Asia 0.0 1 271.1 3-63.1 4/14/20 Verizon Communications Inc 6,200.0 Asia-Pacific (ex Central Asia) 233,992.9 827 154,888.9 592 51.1 3/19/20 NBC Universal Inc 6,0.0 Joint Venture North Asia 95,693.2 432 62,298.0 300 53.6 5//20 Reyal Urbis SA Spain 5,882.4 General Corp. Purp. Taiwan 39,259.3 208 13,705.2 143 186.5 6/25/20 Jubail Petrochemical Plant Saudi Arabia 5,775.0 Project Finance Hong Kong 32,604.7 83 12,524.1 42 160.3 9/16/20 Caterpillar Inc 5,605.0 China,699.5 64 27,562.2 55-61.2 3/16/20 Nord Stream AG Russian Fed 5,371.2 Project Finance South Korea,425.6 75 8,423.6 59 23.8 3/24/20 Gas Natural SDG SA Spain 5,326.2 South Asia 62,994.4 167 39,931.4 2 57.8 7/2/20 Vodafone Group PLC United Kingdom 5,026.4 India Southeast Asia 62,798.4 36,405.4 159 116 39,032.2 21,980.9 89 86 60.9 65.6 Singapore Malaysia 11,978.8 7,702.7 39 24 11,551.2 2,8.7 26 3.7 265.3 Thailand 6,526.3 17 1,563.6 12 317.4 Indonesia 5,562.4 21 4,552.3 24 22.2 Philippines 3,292.8 11 1,564.3 7 1.5 Vietnam 1,342.4 4 640.8 7 9.5 Australasia 38,899.9 112 30,678.7 4 26.8 Australia 35,043.7 85 26,030.3 78 34.6 New Zealand 3,856.3 27 4,501.7 25-14.3 Japan 198,498.4 1,378 201,497.3 1,442-1.5 2
Global Loans Ranking - A Decade in Review 0 1 Bank of America Merrill Lynch 2 JP Morgan 3 Citi 4 Mizuho Financial Group Rank 5 Mitsubishi UFJ Financial Group 6 Wells Fargo & Co 7 BNP Paribas SA 8 Sumitomo Mitsui Finl Grp Inc 9 Deutsche Bank AG Barclays Capital 2001 2002 2003 2004 2005 2006 2007 2008 2009 20 *League Table positions reflect consolidation within the banking sector 3
Overall Proceeds Reach US$789 Billion BAML Takes Top Spot in Rankings Latin America Lending Down 71.5% First Nine Months 20 Syndicated Loans Managing Underwriters Americas Americas Deals Intelligence Lending in the Americas remained strong over 2009 totals, up 66.7% through the first nine months with total proceeds reaching US$788.9 billion. Quarter-over-quarter growth did however decline 41.3% for 20. The Materials sector was the only industry down from 2009 totals, totalling US$63.8 billion in proceeds through three quarters in 20. Energy and Power and Financials proceeds grew 143.2% and 6.2% respectively. High Yield lending in the Americas was similar to the overall trends. Growth slowed quarter-over-quarter, but remained up 79.9% over the third quarter 2009. Total leveraged proceeds in the US reached US$ 370.41 billion for the first nine months in 20. Lending in Latin America was down 71.5% compared to the first three quarters of 2009. Total proceeds reached US$9.0 billion on 32 transactions through three quarters of 20. Top Americas Syndicated Loans Closing Date 5/19/20 6/9/20 9/22/20 4/7/20 3/31/20 5/17/20 6/9/20 4/14/20 3/19/20 9/16/20 Borrower General Electric Capital Corp Wal-Mart Stores Inc Johnson & Johnson Ally Bank Air Products & Chemicals Inc Depository Trust Co PPL Corp Verizon Communications Inc NBC Universal Inc Caterpillar Inc Target Market Package Amt (US$m) 20,917.5 11,225.0,000.0 7,000.0 6,724.0 6,537.0 6,500.0 6,200.0 6,0.0 5,605.0 Primary UOP Standby/CP Support Standby/CP Support General Corp. Purp. Acquisition Fin. Acquisition Fin. Joint Venture Americas Loans (R7) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Bank of America Merrill Lynch 1 2 155,124.1 19.7 0.6 629 32.7 +223 653.6 18.3 0.7 JP Morgan 2 1 148,063.5 18.8-0.9 372 19.3 +161 432.0 12.1 3.7 Citi 3 3 73,807.0 9.4-2.5 147 7.6 +52 184.4 5.2 4.5 Wells Fargo & Co 4 4 60,026.8 7.6 0.4 318 16.5 +88 266.6 7.5 0.5 Deutsche Bank AG 5 17 31,499.9 4.0 2.8 90 4.7 +60 191.8 5.4 3.2 Barclays Capital 6 6 24,643.0 3.1-0.2 90 4.7 +61 170.8 4.8 1.4 BNP Paribas SA 7 8 21,769.6 2.8 0.2 76 3.9 +29 83.2 2.3 0.0 - Credit Suisse 8 21 19,238.5 2.5 1.4 65 3.4 +39 140.7 4.0 1.7 TD Securities Inc 9 9 15,914.7 2.0-0.3 51 2.6 +3 33.8 1.0 0.0 - RBC Capital Markets 5 15,594.9 2.0-1.4 74 3.8 +25 92.3 2.6 0.1 RBS 11 13 15,587.9 2.0 0.4 62 3.2 +24 72.3 2.0 1.1 Scotiabank-Bank of Nova Scotia 12 7 14,937.1 1.9-0.9 66 3.4 +17 54.5 1.5 0.3 CIBC World Markets Inc 13 20 12,928.2 1.6 0.5 54 2.8 +27 25.9 0.7 0.3 Morgan Stanley 14 19 12,191.2 1.6 0.4 31 1.6 +25 87.2 2.5 2.0 BMO Capital Markets 15 12,091.3 1.5-0.7 68 3.5 +12 67.4 1.9 0.1 Goldman Sachs & Co 16 14 12,071.3 1.5-0.1 23 1.2 +12 74.1 2.1 0.3 General Electric Co 17 16 11,240.1 1.4 0.1 113 5.9 +65 0.8 2.8 0.2 Mitsubishi UFJ Financial Group 18 18 11,009.2 1.4 0.2 52 2.7 + 56.3 1.6 0.2 SunTrust Banks 19 22,788.9 1.4 0.6 82 4.3 +46 68.3 1.9 1.1 PNC Financial Services Group 20 12,708.4 1.4-0.4 121 6.3-5 40.2 1.1 0.2 US Bancorp 21 15 9,064.0 1.2-0.2 88 4.6 +29 57.1 1.6 0.4 KeyBanc Capital Markets Inc 22 23 5,771.2 0.7 0.0-42 2.2 +2 28.5 0.8 0.1 HSBC Holdings PLC 23 26 5,730.4 0.7 0.1 17 0.9 +3 37.6 1.1 0.1 UBS 24 11 5,3.5 0.7-1.3 36 1.9 +26 48.2 1.4 1.2 Societe Generale 25 28 5,051.1 0.6 0.1 34 1.8 +16 33.2 0.9 0.2 Top Twenty Five Total 719,955.8 91.5-1.1 3,0.8 87.1-1.6 Total 786,366.7 0.0 1,925 +564 3,564.2 0.0 Industry % Change over Same Period Last Year 72.7% 41.4% 53.1% Industry % Change over Last Quarter -33.2% -24.6% -24.1% Americas Loans by Industry Jan 1 - Sep 30 US High Yield Volume Jan 1 - Sep 30 $180 $1,200 2,500 $160 January 1, 2009 -September 30, 2009 $140 January 1, 20 - September 30, 20 $1,000 2,000 $120 $0 $80 $60 $40 $800 $600 $400 1,500 1,000 $20 $200 500 Energy and Power Financials Industrials Materials Healthcare Media and Entertainment Consumer Staples Retail High Technology Consumer Products and Services Real Estate Telecommunications Government and Agencies 2005 2006 2007 2008 2009 20 Q1 Volume (US$b) Q2 Volume (US$b) Q3 Volume (US$b) Q4 Volume (US$b) 0 4
Americas Americas Loans (R7) - Underwritten Volume North America Loans (R9) # of Deals per Imputed Fees (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Bank of America Merrill Lynch 1 2 155,902.1 19.2 0.2 635 31.5 +222 653.6 18.3 0.7 Bank of America Merrill Lynch 1 2 154,863.4 19.9 0.3 626 363.2 +223 653.1 18.5 1.0 JP Morgan 2 1 151,570.9 18.7-0.6 377 18.7 +167 432.0 12.1 3.7 JP Morgan 2 1 147,874.5 19.0-1.4 370 19.5 +159 431.5 12.2 4.2 Citi 3 3 73,934.0 9.1-2.7 148 7.3 +50 184.4 5.2 4.6 Citi 3 3 72,781.2 9.4-2.5 140 7.4 +53 179.1 5.1 4.6 Wells Fargo & Co 4 4 62,371.2 7.7 0.4 335 16.6 +93 266.6 7.5 0.5 Wells Fargo & Co 4 4 59,993.3 7.7 0.3 317 16.7 +87 266.6 7.5 0.8 Deutsche Bank AG 5 19 31,740.4 3.9 2.7 90 4.5 +59 191.8 5.4 3.2 Deutsche Bank AG 5 17 31,395.9 4.0 2.7 89 4.7 +59 191.7 5.4 3.2 Barclays Capital 6 6 25,025.4 3.1-0.2 92 4.6 +62 170.8 4.8 1.4 Barclays Capital 6 6 24,643.0 3.2-0.2 90 4.7 +62 170.8 4.8 1.3 BNP Paribas SA 7 8 23,251.3 2.9 0.3 79 3.9 +28 83.2 2.3 0.0 - BNP Paribas SA 7 8 21,078.7 2.7 0.1 70 3.7 +29 81.5 2.3 0.0 - Credit Suisse 8 21 19,238.5 2.4 1.4 65 3.2 +39 140.7 4.0 1.7 Credit Suisse 8 21 19,238.5 2.5 1.5 65 3.4 +41 140.7 4.0 1.6 RBC Capital Markets 9 5 16,564.7 2.0-1.3 74 3.7 +26 92.3 2.6 0.1 TD Securities Inc 9 9 15,914.7 2.1-0.2 51 2.7 +3 33.8 1.0 0.0 - RBS 13 16,025.7 2.0 0.3 69 3.4 +29 72.3 2.0 1.1 RBC Capital Markets 5 15,553.2 2.0-1.6 73 3.9 +24 92.1 2.6 0.2 TD Securities Inc 11 9 15,998.0 2.0-0.5 52 2.6 +3 33.8 1.0 0.0 - RBS 11 14 15,487.9 2.0 0.6 61 3.2 +26 72.2 2.0 1.1 Scotiabank-Bank of Nova Scotia 12 7 15,768.7 2.0-1.0 73 3.6 +21 54.5 1.5 0.3 Scotiabank-Bank of Nova Scotia 12 7 14,937.1 1.9-1.0 66 3.5 +17 53.9 1.5 0.2 CIBC World Markets Inc 13 17 13,289.6 1.6 0.4 56 2.8 +25 25.9 0.7 0.3 CIBC World Markets Inc 13 20 12,928.2 1.7 0.6 54 2.8 +27 25.9 0.7 0.3 BMO Capital Markets 14 12,898.8 1.6-0.6 75 3.7 +18 67.4 1.9 0.1 Morgan Stanley 14 18 12,191.2 1.6 0.4 31 1.6 +25 87.2 2.5 2.0 Morgan Stanley 15 18 12,549.6 1.6 0.4 32 1.6 +25 87.2 2.5 2.0 BMO Capital Markets 15 12,091.3 1.6-0.7 68 3.6 +12 67.4 1.9 0.1 Goldman Sachs & Co 16 14 12,071.3 1.5-0.1 23 1.1 +11 74.1 2.1 0.3 Goldman Sachs & Co 16 13 12,071.3 1.6 0.0-23 1.2 +12 74.1 2.1 0.4 General Electric Co 17 15 11,216.8 1.4 0.1 112 5.6 +62 0.8 2.8 0.2 General Electric Co 17 16 11,240.1 1.5 0.1 113 6.0 +65 0.8 2.9 0.2 Mitsubishi UFJ Financial Group 18 20 11,122.8 1.4 0.2 52 2.6 +8 56.3 1.6 0.2 SunTrust Banks 18 22,788.9 1.4 0.5 82 4.3 +46 68.3 1.9 1.0 PNC Financial Services Group 19 12 11,084.1 1.4-0.4 129 6.4-1 40.2 1.1 0.2 Mitsubishi UFJ Financial Group 19 19,766.3 1.4 0.2 50 2.6 +13 56.1 1.6 0.2 SunTrust Banks 20 22,966.9 1.4 0.6 84 4.2 +48 68.3 1.9 1.1 PNC Financial Services Group 20 12,708.4 1.4-0.5 121 6.4-5 40.2 1.1 0.2 US Bancorp 21 16,347.0 1.3 0.0-99 4.9 +40 57.1 1.6 0.4 US Bancorp 21 15 9,064.0 1.2-0.2 88 4.6 +29 57.1 1.6 0.3 KeyBanc Capital Markets Inc 22 23 6,654.5 0.8 0.1 48 2.4 +7 28.5 0.8 0.1 KeyBanc Capital Markets Inc 22 23 5,771.2 0.7-0.1 42 2.2 +2 28.5 0.8 0.1 HSBC Holdings PLC 23 26 5,852.1 0.7 0.1 19 0.9 +5 37.6 1.1 0.1 HSBC Holdings PLC 23 35 5,368.5 0.7 0.5 14 0.7 +7 36.0 1.0 0.3 UBS 24 11 5,461.8 0.7-1.3 37 1.8 +26 48.2 1.4 1.2 UBS 24 11 5,3.5 0.7-1.3 36 1.9 +26 48.2 1.4 1.3 Credit Agricole CIB 25 27 5,309.1 0.7 0.2 31 1.5 +13 32.2 0.9 0.1 Credit Agricole CIB 25 26 4,599.0 0.6 0.1 25 1.3 +13 30.4 0.9 0.1 Top Twenty Five Total 736,215.3 91.1-1.3 3,099.8 87.1-1.8 Top Twenty Five Total 716,453.3 92.5-1.8 3,087.2 87.3-3.5 Total 8,350.0 0.0 2,014 +6 3,564.2 0.0 Total 777,816.8 0.0 1,896 +570 3,533.6 0.0 Industry % Change over Same Period Last Year 74.6% 43.4% 53.5% Industry % Change over Same Period Last Year 76.5% 43.0% 56.9% Industry % Change over Last Quarter -32.2% -23.1% -24.1% Industry % Change over Last Quarter -33.1% -24.2% -23.4% US Loans (R11) US Leveraged Loans (R11a) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Bank of America Merrill Lynch 1 2 154,470.3 21.7-0.2 623 36.9 +225 650.2 19.5 1.4 JP Morgan 2 1 146,940.0 20.6-2.2 366 21.7 +158 429.6 12.9 4.5 Citi 3 3 72,525.6.2-2.9 138 8.2 +54 177.1 5.3 4.6 Wells Fargo & Co 4 4 59,340.5 8.3-0.1 314 18.6 +87 262.8 7.9 1.0 Deutsche Bank AG 5 12 31,211.4 4.4 3.0 86 5.1 +57 190.4 5.7 3.2 Barclays Capital 6 5 24,643.0 3.5-0.3 90 5.3 +63 170.4 5.1 1.3 BNP Paribas SA 7 6 20,826.5 2.9 0.0 68 4.0 +27 80.4 2.4 0.2 Credit Suisse 8 16 19,033.5 2.7 1.6 63 3.7 +41 139.1 4.2 1.8 RBS 9 15,383.6 2.2 0.6 60 3.6 +25 71.9 2.2 1.2 Morgan Stanley 13 12,006.9 1.7 0.3 29 1.7 +23 86.4 2.6 2.0 Goldman Sachs & Co 11 9 11,887.0 1.7-0.1 21 1.2 + 73.3 2.2 0.6 General Electric Co 12 14 11,047.2 1.6 0.3 112 6.6 +68 99.5 3.0 0.5 SunTrust Banks 13 18,788.9 1.5 0.5 82 4.9 +46 68.3 2.1 1.2 PNC Financial Services Group 14 8,708.4 1.5-0.6 121 7.2-5 40.2 1.2 0.2 Mitsubishi UFJ Financial Group 15 15,579.3 1.5 0.2 48 2.8 +13 53.9 1.6 0.1 US Bancorp 16 11 9,064.0 1.3-0.3 88 5.2 +29 57.1 1.7 0.3 BMO Capital Markets 17 22 6,024.2 0.9 0.3 41 2.4 +20 52.2 1.6 0.8 KeyBanc Capital Markets Inc 18 20 5,771.2 0.8-0.1 42 2.5 +2 28.5 0.9 0.1 RBC Capital Markets 19 19 5,553.8 0.8-0.2 31 1.8 +15 60.2 1.8 0.9 UBS 20 7 4,996.0 0.7-1.5 34 2.0 +25 47.4 1.4 1.5 HSBC Holdings PLC 21 33 4,825.0 0.7 0.5 0.6 +4 31.5 0.9 0.1 Credit Agricole CIB 22 24 4,544.0 0.6 0.1 24 1.4 +13 29.4 0.9 0.1 Scotiabank-Bank of Nova Scotia 23 17 4,2.0 0.6-0.4 20 1.2 +7 31.4 0.9 0.4 Societe Generale 24 23 4,085.8 0.6 0.1 22 1.3 +6 29.8 0.9 0.2 Regions Bank 25 27 2,783.3 0.4 0.0-34 2.0 +4 15.0 0.5 0.0 - Top Twenty Five Total 663,141.4 93.4-1.4 2,976.0 89.4-2.0 Total 711,795.2 0.0 1,687 +529 3,338.4 0.0 Industry % Change over Same Period Last Year 83.6% 45.7% 64.6% Industry % Change over Last Quarter -29.3% -16.0% -23.4% # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Bank of America Merrill Lynch 1 1 80,825.0 22.8 1.5 424 37.7 +149 543.3 19.5 4.0 JP Morgan 2 2 52,415.9 14.8-1.0 211 18.7 +91 309.2 11.1 2.3 Wells Fargo & Co 3 3 33,899.0 9.6-4.3 214 19.0 +32 219.7 7.9 3.6 Deutsche Bank AG 4 9 24,636.9 7.0 4.3 69 6.1 +44 180.0 6.5 3.7 Credit Suisse 5 15,929.3 4.5 2.4 57 5.1 +36 129.3 4.7 3.0 Citi 6 4 14,873.4 4.2-3.4 66 5.9 +25 114.4 4.1 3.6 Barclays Capital 7 7 14,354.0 4.1 1.0 65 5.8 +49 153.3 5.5 2.3 General Electric Co 8 8,941.7 3.1 0.1 1 9.8 +66 99.4 3.6 0.0 - BNP Paribas SA 9 5 9,691.3 2.7-2.1 43 3.8 +14 64.8 2.3 0.6 Morgan Stanley 31 7,540.3 2.1 1.8 24 2.1 +20 70.9 2.6 2.3 SunTrust Banks 11 16 6,754.4 1.9 0.7 57 5.1 +38 62.0 2.2 1.1 RBS 12 13 6,289.3 1.8 0.4 34 3.0 +15 52.5 1.9 1.3 Goldman Sachs & Co 13 17 6,270.3 1.8 0.8 15 1.3 +6 57.9 2.1 0.1 RBC Capital Markets 14 14 5,133.8 1.5 0.3 27 2.4 +17 59.2 2.1 1.1 Mitsubishi UFJ Financial Group 15 21 4,985.3 1.4 0.7 19 1.7 +4 37.0 1.3 0.2 US Bancorp 16 11 4,531.7 1.3-0.4 57 5.1 +24 47.7 1.7 0.2 UBS 17 6 4,299.3 1.2-3.5 30 2.7 +24 45.4 1.6 1.8 BMO Capital Markets 18 18 4,259.2 1.2 0.4 34 3.0 +18 49.5 1.8 0.9 KeyBanc Capital Markets Inc 19 12 3,750.7 1.1-0.5 29 2.6-4 26.0 0.9 0.5 PNC Financial Services Group 20 19 3,339.4 0.9 0.1 19 1.7 +4 28.1 1.0 0.3 HSBC Holdings PLC 21 32 3,091.7 0.9 0.6 8 0.7 +3 26.6 1.0 0.7 Credit Agricole CIB 22 26 2,259.5 0.6 0.2 17 1.5 +11 22.7 0.8 0.1 Societe Generale 23 23 2,202.5 0.6 0.0-17 1.5 +7 26.1 0.9 0.0 - Rabobank NV 24 15 2,6.2 0.6-0.6 17 1.5 + 22.8 0.8 0.0 - Jefferies & Co Inc 25 35 1,981.2 0.6 0.4 16 1.4 + 21.4 0.8 0.6 Top Twenty Five Total 326,361.3 92.3-0.1 2,469.2 88.7-1.5 Total 354,493.4 0.0 1,126 +403 2,780.8 0.0 Industry % Change over Same Period Last Year 111.6% 55.7% 95.9% Industry % Change over Last Quarter -20.3% -20.9% -20.2% 5
Americas US Investment Grade Loans (R11b) Latin America Loans - s (R15) # of Deals per Imputed Fees (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan 1 1 93,288.6 28.3-1.7 149 36.0 +66 118.8 23.4 4.5 Citi 1 3 1,025.8 12.0-0.7 7 24.1-1 5.3 17.3 6.7 Bank of America Merrill Lynch 2 2 71,575.3 21.7-1.6 196 47.3 +85 3.4 20.3 5.0 BBVA 2 1 807.1 9.4-6.2 5 17.2-6 1.4 4.5 7.8 Citi 3 3 56,559.8 17.2-1.1 70 16.9 +30 61.3 12.1 3.7 BNP Paribas SA 3 12 690.9 8.1 5.8 6 20.7 0-1.8 5.7 4.6 Wells Fargo & Co 4 5 24,952.9 7.6 3.4 96 23.2 +52 42.0 8.3 5.3 Itau Unibanco 4 7 608.1 7.1 3.4 6 20.7 +1 1.0 3.3 0.9 BNP Paribas SA 5 9,997.7 3.0 1.4 22 5.3 + 14.2 2.8 0.8 Santander 5 4 597.1 7.0-4.6 6 20.7-2 2.9 9.4 1.6 Barclays Capital 6 4 9,251.5 2.8-1.9 23 5.6 +13 16.1 3.2 2.3 Societe Generale 6-464.9 5.4 5.4 6 20.7 +6.8 2.5 1.7 RBS 7 8 9,000.0 2.7 0.9 25 6.0 + 19.2 3.8 0.1 Banco do Brasil SA 7 9 446.9 5.2 1.9 4 13.8 +2.6 2.1 1.7 Goldman Sachs & Co 8 6 4,616.7 1.4-1.3 5 1.2 +3 14.2 2.8 1.6 Credit Agricole CIB 8 16 425.0 5.0 2.7 4 13.8-2 1.7 5.7 2.9 Mitsubishi UFJ Financial Group 9 9 4,367.4 1.3-0.4 22 5.3 +7.6 2.1 0.1 ING 9 6 405.0 4.7 0.9 3.3 0-1.6 5.3 0.4 Deutsche Bank AG 19 4,040.2 1.2 0.9 11 2.7 +8 7.7 1.5 0.2 Bancolombia SA 28* 391.7 4.6 4.5 2 6.9 +1 4.2 13.7 13.7 SunTrust Banks 11 12 3,731.8 1.1 0.2 21 5.1 +3 5.9 1.2 0.6 HSBC Holdings PLC 11 2 361.9 4.2-9.2 3.3-4 1.6 5.1 5.5 US Bancorp 12 16 3,564.2 1.1 0.5 24 5.8 +14 8.0 1.6 1.0 Bank of America Merrill Lynch 12 8 260.7 3.1-0.5 3.3 0 -.5 1.6 2.3 Morgan Stanley 13 7 3,466.7 1.1-1.3 4 1.0 +2 14.3 2.8 1.6 Mitsubishi UFJ Financial Group 13 13 242.9 2.8 0.5 2 6.9-3.2 0.7 2.5 Credit Suisse 14 17 3,066.7 0.9 0.5 5 1.2 +4 9.7 1.9 2.5 JP Morgan 14-189.0 2.2 2.2 2 6.9 +2.4 1.3 1.3 Scotiabank-Bank of Nova Scotia 15 11 2,276.7 0.7-0.8 11 2.7 +3 5.1 1.0 0.0 - Natixis 15-163.1 1.9 1.9 3.3 +3.3 1.1 0.3 Societe Generale 16 18 1,883.3 0.6 0.2 5 1.2 +2 3.7 0.7 0.4 Banco Espirito Santo SA 16 33 148.6 1.7 1.6 2 6.9 +1 1.3 4.2 4.1 KeyBanc Capital Markets Inc 17 21 1,870.5 0.6 0.3 12 2.9 +5 2.5 0.5 0.3 Rabobank NV 17 26 143.5 1.7 1.4 2 6.9 +1.4 1.2 1.1 PNC Financial Services Group 18 15 1,774.2 0.5-0.2 12 2.9 +1 3.6 0.7 0.3 Intesa SanPaolo 18-142.9 1.7 1.7 1 3.4 +1.2 0.5 0.5 Commerzbank AG 19 14 1,762.5 0.5-0.2 3 0.7-1 2.5 0.5 0.2 Grupo Financiero Inbursa SA 19-115.0 1.4 1.4 1 3.4 +1.1 0.5 0.5 HSBC Holdings PLC 20-1,733.3 0.5 0.5 2 0.5 +2 4.9 1.0 0.9 Deutsche Bank AG 20-4.0 1.2 1.2 1 3.4 +1.2 0.5 0.5 BMO Capital Markets 21 23 1,665.0 0.5 0.2 6 1.4 +3 2.6 0.5 0.0 - Mizuho Financial Group 21* 17* 0.0 1.2-0.4 1 3.4-2.1 0.4 2.6 DnB NOR BANK ASA 22 24 1,558.3 0.5 0.2 5 1.2 +2 2.0 0.4 0.3 Sumitomo Mitsui Finl Grp Inc 21* 17* 0.0 1.2-0.4 1 3.4-2.3 0.9 2.1 Regions Bank 23 33 1,153.1 0.4 0.3 2.4 +5 1.9 0.4 0.3 RBS 21* 5 0.0 1.2-5.9 1 3.4-2.2 0.5 4.2 Credit Agricole CIB 24 20 812.0 0.3 0.0-6 1.4 +3 6.7 1.3 0.9 WestLB AG 24 22 81.6 1.0 0.4 2 6.9-1.1 0.4 0.3 UBS 25 22 696.7 0.2-0.1 4 1.0 +2 2.0 0.4 1.5 Administraciones Bancarias 25* 28* 41.7 0.5 0.4 1 3.4 0.2 0.6 0.6 Top Twenty Five Total 318,665.1 96.7-1.1 482.9 95.2-0.4 Top Twenty Five Total 8,034.1 0.0 9.4 27.2 0.0 6.6 Total 329,217.3 0.0 414 +138 508.2 0.0 Total 8,034.1 0.0 29-6 27.2 0.0 Industry % Change over Same Period Last Year 62.3% 50.0% -11.6% Industry % Change over Last Quarter -36.5% -3.8% -35.4% Latin America Loans - Mandated Arrangers (R16) Industry % Change over Same Period Last Year -41.2% -17.1% -59.3% Industry % Change over Last Quarter -38.8% -50.0% -81.6% *tie Top Americas Loans Use of Proceeds Jan 1 - Sep 30 # of Deals per Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Citi 1 2 1,017.8 11.3-2.6 8 25.0-5 5.3 15.7 3.8 BBVA 2 1 841.4 9.3-5.8 7 21.9-8 1.4 4.1 8.7 Santander 3 3 755.6 8.4-5.3 31.3-5 3.0 8.8 3.3 Itau Unibanco 4 7 565.9 6.3 4.2 9 28.1 0-1.1 3.3 0.9 BNP Paribas SA 5 6 442.7 4.9-4.6 6 18.8-6 1.8 5.2 2.5 Credit Agricole CIB 6 8 389.0 4.3 2.3 5 15.6-6 1.8 5.2 1.5 Societe Generale 7 13 388.9 4.3 3.0 6 18.8 0 -.8 2.3 1.1 Banco do Brasil SA 8 11 380.9 4.2 2.7 4 12.5 +2.6 1.9 0.2 Bancolombia SA 9 46* 375.0 4.2 4.2 2 6.3 +1 4.2 12.5 12.5 ING 322.9 3.6 2.0 5 15.6 +2 1.7 4.9 1.7 Mizuho Financial Group 11* 19* 314.4 3.5 2.7 4 12.5 0-1.1 3.1 0.8 Mitsubishi UFJ Financial Group 11* 14 314.4 3.5 2.3 4 12.5-3 1.1 3.3 0.8 Sumitomo Mitsui Finl Grp Inc 13 19* 280.4 3.1 2.3 4 12.5 0-1.2 3.6 1.3 HSBC Holdings PLC 14 4 260.0 2.9 -.6 4 12.5-6 1.6 4.7 7.1 Natixis 15 24 254.9 2.8 2.5 5 15.6 +3.3 1.0 0.5 JP Morgan 16-239.0 2.7 2.7 4 12.5 +4.4 1.2 1.2 Bank of America Merrill Lynch 17 9 186.5 2.1 0.3 3 9.4-1.5 1.5 0.7 Deutsche Bank AG 18-4.0 1.2 1.2 1 3.1 +1.2 0.5 0.5 RBS 19 5 0.0 1.1 -.1 1 3.1-4.2 0.5 8.0 Banco Espirito Santo SA 20 51 89.2 1.0 1.0 2 6.3 +1 1.3 3.8 3.7 Rabobank NV 21 44 86.0 1.0 0.9 2 6.3 +1.4 1.1 1.1 WestLB AG 22 18 84.8 0.9 0.1 3 9.4-4.1 0.4 0.5 Scotiabank-Bank of Nova Scotia 23 26 81.5 0.9 0.7 2 6.3 0 -.6 1.8 1.7 NIBC NV 24-80.2 0.9 0.9 2 6.3 +2.1 0.2 0.2 Banco de Chile 25* 40 76.9 0.9 0.8 1 3.1 0 -.1 0.2 0.2 Top Twenty Five Total 8,032.3 0.0-2.2 30.9 90.8 2.5 Industry Total 9,022.1 0.0 32-14 33.8 0.0 Industry % Change over Same Period Last Year -71.5% -30.4% -74.9% Industry % Change over Last Quarter -40.1% -42.9% -81.3% *tie 300 275 250 225 200 175 150 125 0 75 50 25 0 Refinance Bank Debt General Corporate Purposes Acquisition Financing Standby/CP Support Working Capital January 1, 2009 - September 30, 2009 January 1, 20 -September 30, 20 Leveraged Buyout Recapitalization Project Finance 6
Total Volume Stands at US$581.7 Billion Refinancing Top Use of Funds BHP Billiton PLC Largest Deal First Nine Months 20 Syndicated Loans Managing Underwriters Europe, Middle East & Africa EMEA Deals Intelligence EMEA Syndicated Loan Volume by Target Market EMEA loan issuance during the third quarter totaled US$221 billion as year-to-date lending reached US$581.7 billion, a 14% increase from the same period last year. Regional volume included US$338.4 billion (58%) which reached general syndication while the remaining 42% of deal activity were structured as club transactions. $160 $140 140 120 The top 3 deals of the quarter were BHP Billiton s US$45 billion facility for the acquisition of Potash Corp, Telefonica s US$.4 billion facility for the acquisition of Vivo and Sanofi-Aventis US$8.8 billion refinancing. These three transactions comprised 28% of the quarter s volume. Total sponsor-backed lending year-to-date reached US$19.6 billion, a 175% increase over the same period last year. However, lending was still considerably below the US$74 billion raised during the first three quarters of 2008. This trend should continue as two notable LBOs are expected to complete in the fourth quarter: US$3.25 billon Sunrise via CVC Capital Partners and US$2.48 billion RBS WorldPay via Bain Capital Partners. Top EMEA Syndicated Loans Closing Date Borrower Target Market Package Amt (US$m) Primary Use Of Proceeds 9/17/20 BHP Billiton PLC United Kingdom 45,000.0 Acquisition Fin. 4/19/20 Enel SpA Italy 13,491.6 2/25/20 Anheuser-Busch Inbev Belgium 13,000.0 4/16/20 Alstom Holdings France 11,173.4 Refinancing 7/28/20 Telefonica SA Spain,392.3 Acquisition Fin. 5//20 Glencore International AG Switzerland 9,745.0 7/6/20 Sanofi-Aventis SA France 8,838.4 9/23/20 AP Moller AS Denmark 6,750.0 5/12/20 INEOS Group Ltd United Kingdom 6,718.0 Refinancing 5//20 Reyal Urbis SA Spain 5,882.4 General Corp. Purp. EMEA Loans (R17) - Fully Syndicated Volume $120 $0 $80 $60 $40 $20 United Kingdom France Spain Germany Italy Belgium Russian Federation Netherlands Switzerland Luxembourg 0 80 60 40 20 0 # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. BNP Paribas SA 1 1 27,447.8 8.1-2.1 129 32.9-2 71.1 6.6 2.8 Credit Agricole CIB 2 3 26,342.3 7.8 0.4 91 23.2 0-67.5 6.3 0.8 Societe Generale 3 4 23,225.5 6.9 0.5 82 20.9 +22 59.4 5.5 0.1 RBS 4 2 18,526.4 5.5-3.4 79 20.2 +2 44.3 4.1 3.2 Deutsche Bank AG 5 6 15,964.9 4.7-0.3 59 15.1 +23 52.5 4.9 1.2 HSBC Holdings PLC 6 13,716.8 4.1 0.7 60 15.3 +20 42.4 4.0 1.8 JP Morgan 7 12 12,368.7 3.7 0.9 27 6.9 +2 33.6 3.1 0.5 Barclays Capital 8 5 12,260.2 3.6-1.6 48 12.2-1 37.6 3.5 1.1 Natixis 9 18 12,062.6 3.6 1.7 46 11.7 +20 23.3 2.2 0.4 ING 11 11,931.3 3.5 0.3 60 15.3 +22 41.6 3.9 0.3 Santander 11 8,529.8 3.1-0.6 35 8.9 +2 27.7 2.6 1.9 Lloyds Banking Group 12 14,352.2 3.1 0.7 45 11.5 +5 39.5 3.7 1.5 Citi 13 9,052.9 3.0-0.7 42.7 +9 20.2 1.9 1.2 Commerzbank AG 14 7,002.4 3.0-1.7 59 15.1 +23 37.5 3.5 0.0 - UniCredit Group 15 19 9,378.3 2.8 1.2 44 11.2 +21 40.4 3.8 2.0 Mitsubishi UFJ Financial Group 16 17 8,506.1 2.5 0.6 29 7.4 +8 13.5 1.3 0.2 BBVA 17 13 8,255.7 2.4-0.3 36 9.2-9 27.6 2.6 0.4 Bank of America Merrill Lynch 18 37 8,223.4 2.4 2.0 32 8.2 +22 14.0 1.3 0.7 Intesa SanPaolo 19 23 7,375.8 2.2 1.1 32 8.2 +5 19.8 1.9 0.2 Caja Madrid 20 20 6,114.9 1.8 0.2 22 5.6 +9 28.7 2.7 0.0 - WestLB AG 21 29 5,506.7 1.6 1.0 30 7.7 +7 20.0 1.9 0.7 Caixa d'estalvis y Pensions 22 21 3,973.1 1.2-0.3 12 3.1-5.1 1.0 1.6 Rabobank NV 23 22 3,502.2 1.0-0.3 22 5.6-4 11.0 1.0 0.0 - Mizuho Financial Group 24 61 3,056.3 0.9 0.8 8 2.0 +6 5.4 0.5 0.4 Standard Chartered PLC 25 26 3,032.4 0.9 0.2 27 6.9 +11 7.9 0.7 0.0 - Top Twenty Five Total 281,708.7 83.4 1.0 796.6 74.5-1.2 Total 338,394.5 0.0 392-21 1,071.5 0.0 Industry % Change from Same Period Last Year 1.0% -5.1% -26.1% Industry % Change from Last Quarter -.4% -12.9% 15.8% Club deal volume is not included in Thomson Reuters' League Tables; total volumes include both bookrun and club transactions. EMEA Syndicated Loan Issuance vs Maturing Loans (Notional at Original Issuance) $2,500 Proceeds Issued (US$b) Proceeds Maturing (US$b) $2,000 $1,500 $1,000 $500 2002 2003 2004 2005 2006 2007 2008 2009 20* * 20 volumes through September 30, 20 while prior years reflect full-year volumes 7
Europe, Middle East & Africa European Leveraged Loans (P) - Fully Syndicated Volume EMEA Syndicated Loan Volume by Primary Use of Proceeds Jan 1 - Sep 30 # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Barclays Capital 1 12 4,966.8 9.8 7.0 11 16.2 +4 23.9 5.3 1.3 JP Morgan 2 4 4,523.5 9.0 1.2 7.3 +1 17.7 3.9 2.1 Deutsche Bank AG 3 3 2,952.4 5.8-4.5 13 19.1 +6 24.1 5.3 3.4 RBS 4 2 2,932.4 5.8-5.8 18 26.5 +3 18.7 4.1 5.4 HSBC Holdings PLC 5 18 2,681.3 5.3 4.2 17 25.0 +11 25.3 5.6 3.8 Credit Agricole CIB 6 11 2,359.0 4.7 1.7 18 26.5 +4 22.1 4.9 1.5 BNP Paribas SA 7 1 2,320.4 4.6-8.3 17 25.0-15 24.4 5.4 6.6 BBVA 8 15 2,296.3 4.5 3.0 7.3 0-13.8 3.0 1.7 Goldman Sachs & Co 9-1,950.4 3.9 3.9 6 8.8 +6 17.3 3.8 3.8 Lloyds Banking Group 7 1,935.5 3.8 0.3 12 17.6 +4 24.9 5.5 1.9 Societe Generale 11 9 1,926.7 3.8 0.6 16 23.5 +5 18.4 4.1 0.3 Caja Madrid 12 28* 1,817.2 3.6 2.9 14.7 +8 11.8 2.6 2.2 Citi 13 19 1,374.7 2.7 1.6 9 13.2 +6.8 2.4 1.2 Caixa d'estalvis y Pensions 14 28* 1,325.3 2.6 1.9 4 5.9 +2 4.8 1.1 0.7 ING 15 1,284.3 2.5-0.5 14.7 +2 11.0 2.4 0.3 UniCredit Group 16 39 1,265.3 2.5 2.1 4 5.9 +1 13.9 3.1 2.5 Commerzbank AG 17 5 1,169.2 2.3-5.3 11 16.2 +6 15.5 3.4 3.6 Nomura 18 40 1,154.4 2.3 2.0 4 5.9 +3 14.5 3.2 2.7 Santander 19 13 1,054.8 2.1 0.3 7.3 +3 5.5 1.2 1.3 Bank of America Merrill Lynch 20 32 1,044.7 2.1 1.5 5 7.4 +4 7.0 1.5 0.8 Nordea 21 6 724.5 1.4-6.1 2 2.9-3 8.9 2.0 4.0 Natixis 22 17 706.8 1.4 0.1 5 7.4 0-6.9 1.5 0.1 Landesbank Baden-Wurttemberg 23-705.4 1.4 1.4 3 4.4 +3 3.8 0.8 0.8 Rabobank NV 24 16 577.7 1.1-0.2 4 5.9 0-8.7 1.9 0.7 Credit Suisse 25 38 551.8 1.1 0.7 3 4.4 +1 7.4 1.6 1.2 Top Twenty Five Total 45,600.8 90.1 5.7 361.1 79.6 0.5 Total 50,531.5 0.0 68-13 454.1 0.0 Industry % Change from Same Period Last Year 3.6% -16.0% Industry % Change from Last Quarter 0.5% 9.1% 11.6% 52.3% $200 $175 $150 $125 $0 $75 $50 $25 General Corporate Purposes Refinance Bank Debt Refinancing Acquisition Financing Project Finance Leveraged Buyout January 1, 2009 - September 30, 2009 January 1, 20 - September 30, 20 Working Capital Export/Import Construction Finance EMEA Sponsored Loans (P13) - Fully Syndicated Volume EMEA Syndicated Loans by Industry Jan 1 - Sep 30 # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Deutsche Bank AG 1 17 878.1 8.2 6.3 2 8.3 +1.6 5.5 3.4 Lloyds Banking Group 2 3 839.4 7.8 0.4 4 16.7 +2 17.1 8.9 2.5 Nomura 3 16 750.0 7.0 4.9 3 12.5 +2 11.1 5.8 3.6 Credit Agricole CIB 4 2 725.6 6.8-1.4 8 33.3 0-11.7 6.1 1.1 Barclays Capital 5* 4 662.3 6.2-0.7 1 4.2-1 7.1 3.7 3.2 UniCredit Group 5* 14 662.3 6.2 3.7 1 4.2-2 7.8 4.1 1.8 Goldman Sachs & Co 5* - 662.3 6.2 6.2 1 4.2 +1 7.6 4.0 4.0 BNP Paribas SA 8 1 660.6 6.2-17.8 7 29.2-8 13.0 6.7 13.7 Societe Generale 9 9 595.5 5.6 1.4 7 29.2 +2 11.0 5.7 0.1 Nordea - 574.3 5.4 5.4 1 4.2 +1 7.6 3.9 3.9 HSBC Holdings PLC 11 568.8 5.3 1.9 4 16.7 +1.6 5.5 2.1 Commerzbank AG 12 8 546.1 5.1 0.5 5 20.8 +4.3 5.3 0.4 Credit Suisse 13-391.2 3.6 3.6 2 8.3 +2 6.1 3.2 3.2 Citi 14-316.3 3.0 3.0 2 8.3 +2 5.2 2.7 2.7 Credit Mutuel SA 15 11 245.8 2.3-0.8 5 20.8 +2 4.9 2.6 1.0 ING 16 23 237.4 2.2 1.8 3 12.5 +2 6.7 3.5 3.0 Bank of Ireland 17 22 214.3 2.0 1.2 3 12.5 +2 4.6 2.4 0.9 KKR Financial Holdings LLC 18-202.2 1.9 1.9 1 4.2 +1 2.7 1.4 1.4 Morgan Stanley 19-175.4 1.6 1.6 1 4.2 +1 2.6 1.4 1.4 Mizuho Financial Group 20* - 169.0 1.6 1.6 1 4.2 +1 2.5 1.3 1.3 Sumitomo Mitsui Finl Grp Inc 20* 6* 169.0 1.6-3.8 1 4.2 0-1.1 0.6 3.6 Natixis 22 12 136.4 1.3-1.6 2 8.3 +1 1.8 0.9 2.1 Rabobank NV 23-112.9 1.1 1.1 1 4.2 +1 5.2 2.7 2.7 General Electric Co 24-79.1 0.7 0.7 1 4.2 +1 2.0 1.1 1.1 KBC Group NV 25-73.2 0.7 0.7 1 4.2 +1 1.3 0.7 0.5 Top Twenty Five Total,076.9 0.0 192.3 0.0 Total,734.4 0.0 24-4 192.3 0.0 Industry % Change from Same Period Last Year 62.0% -14.3% 88.9% Industry % Change from Last Quarter 262.4% 160.0% 312.2% $180 $160 $140 $120 $0 $80 $60 $40 $20 Energy and Power Materials Industrials Financials Telecommunications Consumer Staples Media and Entertainment January 1, 2009 - September 30, 2009 January 1, 20 -September 30, 20 Healthcare Retail Consumer Products and Services Real Estate 8
Asian Loans - Record High l Project Financed Increased 130% l Australian Loans Grew 34.6% First Nine Months 20 Syndicated Loans Managing Underwriters Asia (ex-japan) Asia & Australian Deals Intelligence Asian syndicated lending for the first nine months of 20 amounted to US$195.1 billion, a 57.1% increase from last year's US$124. 2 billion, and was the highest volume through the first three quarters on record. Project Finance activity showed a remarkable 130% growth compared to last year s figures. Project Finance Loans totaled US$51.2 billion, and accounted for 26.3% of the Asian market. This volume was driven by the closing of the three largest project finance deals in the quarter: Essar Steel Ltd, Hongsa Power Co Ltd and Coastal Andra Power Ltd. Australian Loans totaled US$35 billion, a 34.6% increase over the first nine months of last year. Club deals made up 57.9% of market activity, with total closings of US$20.3 billion in proceeds. The majority of the Australian transactions were used for Refinancing, which accounted for 41.3% of the market, and was a 25.3% increase from the same period last year. Top Asia Syndicated Loans Closing Date 1/8/20 8/14/20 8/5/20 5/11/20 3/30/20 3/26/20 7/7/20 5/5/20 4/30/20 9/28/20 Borrower Taiwan High Speed Rail Corp Essar Steel Ltd Hongsa Power Co Ltd Suzlon Energy Ltd Sun Hung Kai Financial Svcs Jindal Power Ltd Coastal Andhra Power Ltd Cable & Wireless HKT Bharti Airtel Ltd Prayagraj Power Generation Co Target Market Taiwan India Thailand India Hong Kong India India Hong Kong India India Loan Package Amt (US$m) 12,005.1 3,718.4 2,895.1 2,357.3 2,333.7 2,229.4 2,5.7 2,060.0 1,988.7 1,797.5 Asian Loans by Currency Jan 1 - Sep 30 Proceeds (US$ b) Asian Loans by Volume Jan 1 - Sep 30 $200 $160 $120 $80 $40 $200 $160 $120 $80 $40 Other Currency Local Currency 3Q2000 3Q2001 3Q2002 3Q2003 3Q2004 3Q2005 3Q2006 3Q2007 3Q2008 3Q2009 3Q20 3Q2000 3Q2001 3Q2002 3Q2003 3Q2004 3Q2005 3Q2006 3Q2007 3Q2008 3Q2009 3Q20 800 600 400 200 0 Asia Loans - s (S5c) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. State Bank of India 1 1 29,309.0 19.5-1.5 58.3 +20 53.0 17.5 1.8 Bank of Taiwan 2 30 14,235.0 9.5 8.8 45 8.0 +16 12.3 4.0 3.5 IDBI Bank Ltd 3 4,423.9 7.0 0.5 21 3.7 +8 17.5 5.8 1.7 Axis Bank Ltd 4 7 5,852.5 3.9 1.8 20 3.6 +8 8.8 2.9 0.1 Standard Chartered PLC 5 9 5,654.8 3.8 1.9 54 9.6 +30.3 3.4 1.4 Bank of China Ltd 6 3 5,174.0 3.5-7.1 17 3.0-7.9 3.6 2.7 HSBC Holdings PLC 7 8 4,737.5 3.2 1.2 40 7.1 +15 8.9 3.0 1.0 ICICI Bank Ltd 8 21 4,377.7 2.9 1.9 1.8 +6 6.8 2.2 1.0 Taiwan Cooperative Bank 9 13 3,507.4 2.3 0.8 73 13.0 +16 5.6 1.8 0.6 Infrastructure Dev Finance 12 3,329.2 2.2 0.6 1.8 +2 5.0 1.6 1.7 CITIC 11 3,009.1 2.0 0.3 9 1.6 +3 8.7 2.9 1.7 Oversea-Chinese Banking 12 40 2,789.6 1.9 1.4 17 3.0 + 6.5 2.1 1.4 Mega Financial Holding Co 13 24 2,726.6 1.8 0.8 65 11.6 +21 5.3 1.7 0.6 DBS Group Holdings 14 6 2,623.1 1.8-1.3 34 6.1 +11 8.3 2.7 3.5 Mitsubishi UFJ Financial Group 15 16 2,558.7 1.7 0.4 17 3.0 +4 4.2 1.4 0.2 Korea Development Bank 16 25 2,399.1 1.6 0.7 17 3.0 +5 4.3 1.4 0.5 Land Bank of Taiwan 17 14 2,366.2 1.6 0.1 62 11.1 + 4.8 1.6 0.4 Citi 18 11 2,324.0 1.6-0.1 19 3.4 +8 4.8 1.6 1.6 Credit Agricole CIB 19 19 2,005.5 1.3 0.1 26 4.6 +11 4.3 1.4 0.3 Sumitomo Mitsui Finl Grp Inc 20 22 1,856.4 1.2 0.2 21 3.7 + 4.3 1.4 0.2 Fubon Financial Holding Co Ltd 21 17 1,845.4 1.2-0.1 52 9.3 +24 3.4 1.1 0.2 China Trust Co Ltd 22 29 1,838.2 1.2 0.4 50 8.9 +12 4.6 1.5 0.7 Mizuho Financial Group 23 26 1,814.5 1.2 0.3 30 5.3 +16 4.0 1.3 0.2 RBS 24 20 1,643.4 1.1 0.0-11 2.0 +3 4.1 1.4 0.1 ANZ Banking Group 25 39 1,642.5 1.1 0.6 18 3.2 +12 3.2 1.1 0.7 Top Twenty Five Total 120,043.3 80.1 12.7 213.9 70.4 3.0 Total 150,060.1 0.0 561 +172 303.3 0.0 Industry % Change from Same Period Last Year 46.4% 44.2% 32.4% Industry % Change from Last Quarter -7.8% 1.0% -14.7% Asia Loans - Mandated Arrangers (S5b) Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. State Bank of India 1 1 27,724.9 14.2-3.2 62 8.7 +19 53.3 13.6 2.0 Bank of Taiwan 2 37 14,614.0 7.5 6.9 63 8.8 +30 12.6 3.2 2.8 IDBI Bank Ltd 3 4 11,602.6 6.0 0.7 22 3.1 +9 17.5 4.5 1.2 Bank of China Ltd 4 3 7,609.9 3.9-5.0 48 6.7 +3 13.9 3.5 2.0 HSBC Holdings PLC 5 8 7,501.6 3.9 1.8 99 13.8 +46 19.2 4.9 2.5 Axis Bank Ltd 6 12 5,852.5 3.0 1.2 20 2.8 +6 8.8 2.3 0.2 Standard Chartered PLC 7 7 5,436.9 2.8 0.4 2 14.3 +43 15.0 3.8 0.7 DBS Group Holdings 8 5 4,742.6 2.4-0.8 80 11.2 +12 12.8 3.3 3.7 ICICI Bank Ltd 9 28 4,530.3 2.3 1.5 12 1.7 +7 6.8 1.7 0.7 Sumitomo Mitsui Finl Grp Inc 14 4,402.0 2.3 0.6 62 8.7 +34 8.1 2.1 0.3 Mitsubishi UFJ Financial Group 11 9 4,041.4 2.1 0.0-61 8.5 +19 7.6 1.9 0.0 - Mizuho Financial Group 12 31 4,038.6 2.1 1.3 70 9.8 +45 6.8 1.7 0.4 Oversea-Chinese Banking 13 13 3,611.7 1.9 0.2 54 7.6 +24.4 2.6 1.3 Credit Agricole CIB 14 11 3,373.7 1.7-0.1 58 8.1 +12 7.3 1.9 0.6 Infrastructure Dev Finance 15 15 3,329.2 1.7 0.3 1.4 0-5.0 1.3 1.6 BNP Paribas SA 16 33 3,260.5 1.7 1.0 53 7.4 +34 7.3 1.9 1.3 CITIC 17 3,248.3 1.7-0.3 17 2.4-1 9.1 2.3 0.6 ANZ Banking Group 18 19 2,920.4 1.5 0.3 51 7.1 +26 5.7 1.5 0.0 - Land Bank of Taiwan 19 17 2,879.1 1.5 0.2 78.9 +21 4.8 1.2 0.2 Mega Financial Holding Co 20 23 2,812.9 1.4 0.4 79 11.0 +22 5.8 1.5 0.4 Taiwan Cooperative Bank 21 18 2,716.4 1.4 0.2 89 12.4 +28 5.7 1.5 0.6 Industrial & Comm Bank China 22 2 2,587.5 1.3-8.4 18 2.5-4.2 1.1 2.5 Korea Development Bank 23 29 2,379.1 1.2 0.4 19 2.7 +2 4.5 1.1 0.6 China Trust Co Ltd 24 24 2,140.1 1.1 0.1 66 9.2 +12 4.9 1.2 0.3 Citi 25 26 2,117.8 1.1 0.1 27 3.8 +5 5.5 1.4 1.7 Top Twenty Five Total 139,474.0 71.7-0.2 262.6 67.0-1.6 Industry Total 195,093.0 0.0 715 +227 391.3 0.0 Industry % Change from Same Period Last Year 57.1% 46.5% 37.8% Industry % Change from Last Quarter -11.5% -6.3% -12.1% 9
Asia (ex-japan) & Australia Asia Loans - s (S5c) - Underwritten Volume Australia Loans - Mandated Arrangers (S6a) # of Deals per Imputed Fees (US$m) Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. State Bank of India 1 1 29,309.0 19.5-1.5 58.3 +20 53.0 17.5 1.8 Westpac Banking 1 3 4,993.5 14.3-3.6 42 16.8-5.4 12.0 +12 Bank of Taiwan 2 30 14,235.0 9.5 8.8 45 8.0 +16 12.3 4.0 3.5 ANZ Banking Group 2 1 4,369.1 12.5-5.7 41 14.7-2 12.1 14.0 +14 IDBI Bank Ltd 3 4,423.9 7.0 0.5 21 3.7 +8 17.5 5.8 1.7 Commonwealth Bank of Australia 3 2 4,304.6 12.3-5.8 36 14.5-8.1 11.6 +12 Axis Bank Ltd 4 7 5,852.5 3.9 1.8 20 3.6 +8 8.8 2.9 0.1 National Australia Bank 4 4 3,667.1.5-3.6 38 12.4 +4.6 12.3 +12 Standard Chartered PLC 5 9 5,654.8 3.8 1.9 54 9.6 +30.3 3.4 1.4 RBS 5 6 1,411.9 4.0 0.9 8 4.7-1 2.3 2.7 +3 Bank of China Ltd 6 3 5,174.0 3.5-7.1 17 3.0-7.9 3.6 2.7 Bank of China Ltd 6 16 980.9 2.8 1.8 4 3.3 +1 2.4 2.7 +3 HSBC Holdings PLC 7 8 4,737.5 3.2 1.2 40 7.1 +15 8.9 3.0 1.0 Sumitomo Mitsui Finl Grp Inc 7 14 903.7 2.6 1.5 3.1 +7 1.9 2.1 +2 ICICI Bank Ltd 8 21 4,377.7 2.9 1.9 1.8 +6 6.8 2.2 1.0 HSBC Holdings PLC 8 8 757.6 2.2 0.3 11 2.6 +5 1.3 1.5 +2 Taiwan Cooperative Bank 9 13 3,507.4 2.3 0.8 73 13.0 +16 5.6 1.8 0.6 Credit Agricole CIB 9 11 742.6 2.1 0.4 9 2.5 0-2.9 3.3 +3 Infrastructure Dev Finance 12 3,329.2 2.2 0.6 1.8 +2 5.0 1.6 1.7 China Development Bank - 737.1 2.1 2.1 2 2.5 +2 1.5 1.7 +2 CITIC 11 3,009.1 2.0 0.3 9 1.6 +3 8.7 2.9 1.7 Top Ten Total 22,868.1 65.4-13.8 55.5 63.9 63.9 Oversea-Chinese Banking 12 40 2,789.6 1.9 1.4 17 3.0 + 6.5 2.1 1.4 Industry Total 35,043.7 0.0 85 +7 87 0.0 Mega Financial Holding Co 13 24 2,726.6 1.8 0.8 65 11.6 +21 5.3 1.7 0.6 DBS Group Holdings 14 6 2,623.1 1.8-1.3 34 6.1 +11 8.3 2.7 3.5 Industry % Change from Same Period Last Year 34.6% 9.0% #REF! ## Mitsubishi UFJ Financial Group 15 16 2,558.7 1.7 0.4 17 3.0 +4 4.2 1.4 0.2 Industry % Change from Last Quarter -36.1% -21.1% #REF! ## Korea Development Bank 16 25 2,399.1 1.6 0.7 17 3.0 +5 4.3 1.4 0.5 Land Bank of Taiwan 17 14 2,366.2 1.6 0.1 62 11.1 + 4.8 1.6 0.4 Citi 18 11 2,324.0 1.6-0.1 19 3.4 +8 4.8 1.6 1.6 Australia Loans - s (S7) Credit Agricole CIB 19 19 2,005.5 1.3 0.1 26 4.6 +11 4.3 1.4 0.3 Sumitomo Mitsui Finl Grp Inc 20 22 1,856.4 1.2 0.2 21 3.7 + 4.3 1.4 0.2 # of Deals per Imputed Fees (US$m) Fubon Financial Holding Co Ltd 21 17 1,845.4 1.2-0.1 52 9.3 +24 3.4 1.1 0.2 China Trust Co Ltd 22 29 1,838.2 1.2 0.4 50 8.9 +12 4.6 1.5 0.7 Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Mizuho Financial Group 23 26 1,814.5 1.2 0.3 30 5.3 +16 4.0 1.3 0.2 ANZ Banking Group 1 1 3,551.3 24.1 0.7 11 65.6-4 5.8 20.3 0.4 RBS 24 20 1,643.4 1.1 0.0-11 2.0 +3 4.1 1.4 0.1 Westpac Banking 2 3 2,609.5 17.7 1.3 8 62.2-7 4.8 16.8 1.3 ANZ Banking Group 25 39 1,642.5 1.1 0.6 18 3.2 +12 3.2 1.1 0.7 Commonwealth Bank of Australia 3 2 2,476.9 16.8-5.1 7 41.9-9 3.0.6 7.1 Top Twenty Five Total 120,043.3 80.1 12.7 213.9 70.4 3.0 National Australia Bank 4 4 1,672.8 11.3-1.2 9 24.8 +2 3.5 12.2 3.2 Total 150,060.1 0.0 561 +172 303.3 0.0 RBS 5 8 988.5 6.7 3.6 1 24.8-4 1.3 4.5 0.4 Bank of China Ltd 6 12 986.0 6.7 5.4 2 15.2 0-1.2 4.2 1.9 Industry % Change from Same Period Last Year 46.4% 44.2% 32.4% China Development Bank 7-600.0 4.1 4.1 1 9.6 +1.9 3.1 3.1 Industry % Change from Last Quarter -7.8% 1.0% -14.7% Mitsubishi UFJ Financial Group 8* 9 386.0 2.6 0.5 1 9.6-1.4 1.3 1.5 JP Morgan 8* 13* 386.0 2.6 2.0 1 5.2 0 -.3 1.1 0.8 BNP Paribas SA 5 199.2 1.4-5.9 1 2.6-2.3 1.1 3.4 Asian Loan Volume by Target Market Jan 1 - Sep 30 Top Ten Total 13,856.2 0.0 11.3 21.5 74.1 0.9 Total 14,748.5 0.0 27-7 28.8 0.0 $70 $60 $50 $40 $30 $20 $ January 1, 2009 - September 30, 2009 January 1, 20 - September 30, 20 India Taiwan Hong Kong Singapore China South Korea Industry % Change from Same Period Last Year 4.9% Industry % Change from Last Quarter -58.5% -20.6% -21.4% -5.3% -8.0% *tie Top Australia Syndicated Loans Closing Date Borrower Target Market Loan Package Amt (US$m) 6/25/20 Asciano Ltd Australia 2,965.6 6/23/20 Vodafone Hutchison Australia Australia 2,620.5 4/16/20 Origin Energy Ltd Australia 2,316.2 8/9/20 Newcastle Coal Infr Grp Australia 2,055.8 6/21/20 Karara Mining Ltd Australia 1,200.0 6/30/20 Australand Holdings Ltd Australia 1,092.3 8/9/20 SPIAA Australia 916.3 7/28/20 Billabong International Ltd Australia 790.0 1/21/20 Hazelwood Power Fin Pty Ltd Australia 668.2 3/23/20 TAHL Hotel Finance Pty Ltd Australia 664.0 Australian Loan by Syndicate Type Jan 1 - Sep 30 0% Australian Loans Proceeds by Industry Industrials 80% 60% 40% 24% 17% 6% 16% 9% 14% 14% Energy and Power Financials Materials 20% 0% 3Q2005 3Q2006 3Q2007 3Q2008 3Q2009 3Q20 Syndicated Club Deals Real Estate Telecommunications
Japanese Market - Proceeds down by 1.5% Softbank Corp raised US$4.1 billion in Q3 Mizuho Tops, MUFG Ranks Second First Nine Months 20 Syndicated Loans Managing Underwriters Japan Japan Deals Intelligence Japanese syndicated lending activity remained stable with a 1.5% decrease for the first nine months of 20, compared to the same period last year. Total proceeds amounted to US$198.5 billion from 1,378 transactions. Japan Loans - Mandated Arrangers (S12a) Dai-ichi Life Insurance Co Ltd's US$2.6 billion transaction was the largest syndicated loan deal from July to September. Softbank Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Market Market # of Market Change in Corp s US$2.2 billion transaction was the second largest deal in the same period, which closed on September 8th and was sole-led by Mandated Arranger Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Mizuho Corporate Bank (MCB). On the same day, the borrower also raised US$1.5 billion and US$357.8 million loans from MCB. Mizuho Financial Group 1 1 76,502.7 38.5 7.2 463 33.6 + Mitsubishi UFJ Financial Group 2 3 50,560.6 25.5-1.9 508 36.9-58 Proceeds totaling US$4.1 billion will all be used for working capital. Sumitomo Mitsui Finl Grp Inc 3 2 47,518.8 23.9-5.4 384 27.9-60 Citi 4 4 4,545.9 2.3-0.3 0.7-4 The Industrials sector was the most active in the first nine months of 20, accounting for 21.8% of the market. The top three Sumitomo Trust & Banking 5 5 3,970.1 2.0 0.8 42 3.0 +8 syndicated industrials deals by proceeds were: Nissan Motor Corp s deal for US$1.8 billion, Taisei Corp s US$1.8 billion loan and Resona Holdings Inc 6 8 3,409.2 1.7 0.8 68 4.9 +31 Sumitomo Corp s US$1.4 billion transaction. Development Bank of Japan Inc 7 2,572.5 1.3 0.7 25 1.8 +3 Aozora Bank Ltd 8 16 1,716.0 0.9 0.7 17 1.2 + Bank of Yokohama 9 11 1,194.3 0.6 0.1 38 2.8-2 BNP Paribas SA 9 1,183.5 0.6-0.1 6 0.4-1 Chuo Mitsui Trust & Banking 11 13 927.8 0.5 0.0-15 1.1 +7 Credit Agricole CIB 12 12 885.8 0.5 0.0-8 0.6 0 - Top Japan Syndicated Loans Hiroshima Bank Ltd 13 19 399.4 0.2 0.1 9 0.7 +4 Closing Date Borrower Package Amt (US$m) Primary UOP Nishi-Nippon City Bank Ltd 14 48 364.3 0.2 0.2 4 0.3 +2 4/30/20 JOGMEC 4,474.4 Oper Fund / Cash Res ING 15 25 274.9 0.1 0.0-3 0.2 +1 2/23/20 Sumitomo Corp 3,658.4 Working Capital Bank of America Merrill Lynch 16 20 222.6 0.1 0.0-2 0.1-1 5/13/20 ITOCHU Corp 3,238.8 Working Capital 77 Bank Ltd 17 21 207.1 0.1 0.0-2 0.1 +1 3/31/20 Hitachi Ltd 3,211.5 Oper Fund / Cash Res ANZ Banking Group 18-164.4 0.1 0.1 2 0.1 +2 4/1/20 Osaka Prefecture 3,197.7 Place Funds on Deps Hokuhoku Financial Group Inc 19 23 152.6 0.1 0.0-3 0.2-1 3/1/20 Marubeni Corp 2,748.9 Barclays Capital 20 35* 147.1 0.1 0.1 1 0.1 0-9/27/20 Dai-ichi Life Insurance Co Ltd 2,6.7 Societe Generale 21 29 144.5 0.1 0.1 2 0.1 +1 6/16/20 Mitsubishi Heavy Industries 2,298.9 Working Capital Shinkin Central Bank 22 7 137.5 0.1-1.0 4 0.3-2 9/8/20 SoftBank Corp 2,230.3 Working Capital Bank of Kyoto Ltd 23 47 130.8 0.1 0.1 3 0.2 +2 9/9/20 Nissan Motor Co Ltd 1,800.0 General Corp. Purp. Fukuoka Financial Group Inc 24 17 122.7 0.1-0.1 4 0.3-2 Sapporo Hokuyo Holdings Inc 25 24 1.9 0.1 0.0-1 0.1-2 Top Twenty Five Total 197,566.0 99.8 2.2 Industry Total 198,498.4 0.0 1,378-64 Japan Loans Volume Jan 1 - Sep 30 $250 $200 $150 $0 2,500 2,000 1,500 1,000 Industry % Change from Same Period Last Year Industry % Change from Last Quarter *tie -1.5% -4.4% 66.8% 178.6% Japan Loans Proceeds by Industry 6% 7% 6% 4% 4% 2% 2% 1% 21% 14% Industrials Financials Energy and Power High Technology Real Estate Materials Consumer Products and Services Retail 9% Government and Agencies Consumer Staples $50 500 12% 12% Media and Entertainment Healthcare Telecommunications 3Q2001 3Q2002 3Q2003 3Q2004 3Q2005 3Q2006 3Q2007 3Q2008 3Q2009 3Q20 0 11