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GLOBAL

CAPITAL
MARKETS
LEAGUE TABLES
Q1 2014

04/01/2014

Bloomberg

Bloomberg 2014 Q1

Table of Contents
1 . Introduction
2 . Global Equity, Equity Linked & Rights
3 . Global Equity & Equity Linked
4 . Global Equity Linked

Global Capital Markets League Tables


From initial public offerings to syndicated loans, Bloomberg's league tables are your one-stop shop for constant and
timely access to the most comprehensive information available on capital markets representation.

5 . U.S. Equity & Equity Linked


6 . EMEA Equity, Equity Linked & Rights
Offerings

7 . Asia-Pacific Equity, Equity Linked & Rights


8 . Corporate Bonds (All)

Just type LEAG <GO> for underwriter rankings or LALT <GO> for legal adviser rankings and then click on the red
'Select a Market' button in the top left of your screen to view a complete range of rankings available for fixed income,
equity, equity-linked and syndicated loans. Alternatively, press the green <Help> key on your BLOOMBERG
PROFESSIONAL(R) for further instructions.

9 . International Bonds
10 . Global Bonds
11 . U.S. Bonds

VISIT {NI LEAG CRL <GO>} TO DOWNLOAD COPIES OF THE FULL RELEASE AND A FULL RANGE OF
MARKET SPECIFIC LEAGUE TABLE RESULTS.

12 . Euromarket Bonds
13 . Asian Local Currency Bonds
14 . U.S. Loans
15 . U.S. Leveraged Loans

Due to the dynamic nature of the Professional Service product, league table rankings may vary between this

16 . EMEA Loans Mandated Arranger


17 . EMEA Loans Book Runner

release and data found on the Bloomberg Professional Service.

18 . Asia ex-Japan Loans Mandated Arranger


19 . Asia ex-Japan Loans Book Runner
20 . Latin America Equity Offerings
21 . Latin America Bonds

For data submissions or queries, please contact:

22 . Latin America Domestic Bonds


23 . Brazil Domestic (Local Credit)
24 . Mexico Domestic
25 . Latin America Loans Mandated Arranger
26 . Latin America Loans Book Runner

Contact

Phone

Fax

Email

Americas

Paul Bandong

+1-609-279-5187

+1-646-268-5455

calendar@bloomberg.net

EMEA

Jorge Fernandez

+44-20-3216-4345

+44-20-77392-6161

emeacapmkts@bloomberg.net

Asia-Pac (HK)

Janoearto Alamsyah

+60-3-2302-7887

+60-3-2302-7800

jalamsyah@bloomberg.net

Asia-Pac (SG)

Carissa Chua

+65-6231-3665

cchua79@bloomberg.net

For 24 hour global customer support call

+1 212 318 2000

+44 20 7330 7500

+65 6212 1000

+81 3 3201 8900

or press the HELP key twice on the BLOOMBERG PROFESSIONAL(R) service.

LEAG <GO>

LREP <GO>

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

LREP <GO>
1

Bloomberg
Underwriter League Tables

Global Equity, Equity Linked & Rights


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Goldman Sachs & Co

10.9

18,343

2.82

88

13.1

(2.2)

Morgan Stanley

9.1

15,355

3.16

99

8.1

1.0

JP Morgan

8.5

14,274

4.39

115

6.6

1.9

Bank of America Merrill Lynch

8.1

13,611

3.26

88

6.9

1.2

Deutsche Bank AG

7.2

12,128

3.73

79

6.2

1.0

Citi

5.9

10,007

4.28

84

8.0

(2.1)

Credit Suisse

5.9

9,882

3.98

91

5.5

0.4

UBS

5.7

9,646

3.91

64

8.0

(2.3)

Barclays

3.2

5,435

3.01

61

5.8

(2.6)

Nomura Holdings Inc

10

2.5

4,143

2.58

34

12

1.4

1.1

HSBC Bank PLC

11

2.0

3,362

1.50

10

14

1.3

0.7

RBC Capital Markets

12

1.9

3,156

4.31

47

13

1.3

0.6

Jefferies LLC

13

1.5

2,447

4.94

38

17

1.0

0.5

Wells Fargo & Co

14

1.3

2,177

4.13

37

11

1.5

(0.2)

BMO Capital Markets

15

1.0

1,633

4.49

26

16

1.0

Sumitomo Mitsui Financial Group Inc

16

1.0

1,624

4.64

17

25

0.7

0.3

Societe Generale

17

1.0

1,619

n/a

19

0.8

0.2

CITIC Securities Co Ltd

18

0.9

1,589

3.24

GF Securities

19

0.7

1,132

5.85

83

0.1

0.6

200,000

Mizuho Financial Group Inc

20

15

1.3

(0.7)

180,000

TOTAL

0.6
100%

1,081
168,231

3.89
4.28

15
1,023 178,037

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

3.08%
29.16%
28.15%
12.49%
14.04%
13.08%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
260,000

1200

240,000
1100
220,000
1000

900

100%

160,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

140,000

Includes all eligible global equity, equity-linked & rights offering. Volume in USD millions.

800

120,000
700
100,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

600
Q
1

80,000

LREP <GO>
2

Bloomberg
Underwriter League Tables

Global Equity & Equity Linked


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Goldman Sachs & Co

11.0

18,202

2.82

86

13.3

(2.3)

Morgan Stanley

9.2

15,161

3.16

98

8.3

0.9

JP Morgan

8.5

14,079

4.39

112

6.6

1.9

Bank of America Merrill Lynch

8.3

13,611

3.26

88

7.0

1.3

Deutsche Bank AG

7.4

12,128

3.73

79

6.1

1.3

Citi

6.1

10,007

4.28

84

8.1

(2.0)

Credit Suisse

6.0

9,882

3.98

91

5.5

0.5

UBS

5.8

9,534

3.91

61

8.0

(2.2)

Barclays

3.3

5,374

3.01

60

5.9

(2.6)

Nomura Holdings Inc

10

2.5

4,143

2.58

34

12

1.5

1.0

HSBC Bank PLC

11

2.0

3,362

1.50

10

15

1.3

0.7

RBC Capital Markets

12

1.9

3,156

4.31

47

13

1.4

0.5

Jefferies LLC

13

1.5

2,409

4.94

37

17

1.0

0.5

Wells Fargo & Co

14

1.3

2,177

4.13

37

11

1.5

(0.2)

BMO Capital Markets

15

1.0

1,633

4.49

26

16

1.0

Sumitomo Mitsui Financial Group Inc

16

1.0

1,624

4.64

17

25

0.7

0.3

Societe Generale

17

1.0

1,619

n/a

19

0.8

0.2

CITIC Securities Co Ltd

18

0.9

1,483

3.24

Mizuho Financial Group Inc

19

0.7

1,081

3.89

15

14

1.3

(0.6)

180,000

Scotiabank

20

32

0.4

0.2

160,000

TOTAL

0.6
100%

1,037
164,971

4.02
4.28

8
980 175,002

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

3.10%
29.24%
27.85%
12.28%
14.24%
13.29%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
240,000

1200

220,000
1100
200,000
1000

900

100%

140,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

120,000

Includes all eligible equity & equity-linked offerings. Rights offerings are excluded. Excludes Renminbi denominated offers. Volume in USD millions.

800

100,000
700
80,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

600
Q
1

60,000

LREP <GO>
3

Bloomberg
Underwriter League Tables

Global Equity Linked


1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Morgan Stanley

13.6

2,987

2.82

17

6.2

JP Morgan

11.1

2,435

2.90

18

9.4

1.7

Goldman Sachs & Co

8.6

1,878

n/a

10

9.7

(1.1)

Bank of America Merrill Lynch

7.6

1,667

2.74

11

10.3

(2.7)

Deutsche Bank AG

7.6

1,660

2.50

11

9.8

(2.2)

Credit Suisse

5.4

1,186

2.50

11

3.0

2.4

HSBC Bank PLC

5.1

1,119

n/a

24

0.6

4.5

Citi

4.6

1,001

3.00

5.5

(0.9)

Barclays

4.1

904

n/a

5.8

(1.7)

Nomura Holdings Inc

10

4.1

892

n/a

18

0.9

3.2

Societe Generale

11

3.4

748

n/a

14

1.7

1.7

BNP Paribas Group

12

2.8

607

n/a

10

3.6

(0.8)

RBS

13

2.3

493

n/a

34

0.2

2.1

Jefferies LLC

14

2.0

431

3.00

27

0.5

1.5

UniCredit

15

2.0

428

n/a

43

0.1

1.9

Credit Agricole CIB

16

1.4

302

n/a

13

2.1

(0.7)

Mizuho Financial Group Inc

17

UBS

18

RBC Capital Markets

19

Daiwa Securities Group Inc

20
TOTAL

1.3
1.2
1.1
0.9
100%

277
255
250
205
21,895

n/a
n/a
3.08
n/a
2.88

23
1

2
3

0.6
10.5

7.4

0.7
(9.3)

19

0.8

0.3

15

1.1

(0.2)

2
129 26,343

Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

44.26%
13.62%
18.18%
10.68%
13.26%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
45,000

160

40,000

140

35,000
120

30,000
25,000

100%

100

20,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

80

15,000

Includes all eligible equity-linked offerings. Rights offerings are excluded. Excludes Renminbi denominated offers. Volume in USD millions.

60

10,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

40
Q
1

5,000

LREP <GO>
4

Bloomberg
Underwriter League Tables

U.S. Equity & Equity Linked


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Morgan Stanley

11.3

6,489

4.07

59

11.6

(0.3)

Citi

11.1

6,407

4.21

61

13.0

(1.9)

JP Morgan

11.0

6,351

4.58

71

9.3

1.7

Goldman Sachs & Co

10.8

6,211

3.23

53

15.0

(4.2)

Bank of America Merrill Lynch

10.2

5,880

4.01

63

11.2

(1.0)

Credit Suisse

8.9

5,118

4.25

48

6.2

2.7

Deutsche Bank AG

7.8

4,473

3.94

49

3.7

4.1

Barclays

6.7

3,888

2.85

45

10.6

(3.9)

Wells Fargo & Co

3.6

2,094

4.15

35

3.9

(0.3)

RBC Capital Markets

10

3.1

1,776

4.31

29

12

2.1

1.0

Jefferies LLC

11

2.4

1,402

5.18

22

11

2.6

(0.2)

UBS

12

2.2

1,290

4.13

20

10

3.5

(1.3)

Stifel

13

1.3

733

6.54

17

16

0.4

0.9

BMO Capital Markets

14

1.1

661

4.96

11

22

0.3

0.8

Piper Jaffray & Co

15

0.9

532

5.12

10

31

0.1

0.8

Cowen & Co

16

0.9

528

6.00

14

20

0.3

0.6

Leerink Swann LLC

17

0.9

527

6.08

11

18

0.4

0.5

Raymond James & Associates Inc

18

0.6

363

5.74

11

13

1.1

(0.5)

HSBC Bank PLC

19

0.5

288

n/a

William Blair & Co LLC

20
TOTAL

0.3
100%

201
57,623

6.35
4.18

23

0.2

0.1

5
282 65,097

Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

36.00%
21.49%
7.16%
14.97%
20.38%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
90,000

320

80,000

280

70,000

240

60,000
200

100%

50,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

160

40,000

Includes all eligible equity & equity-linked offerings from U.S. issuers. Volume in USD millions.

120

30,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

80
Q
1

20,000

LREP <GO>
5

Bloomberg
Underwriter League Tables

EMEA Equity, Equity Linked & Rights Offerings


1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Goldman Sachs & Co

13.4

7,893

1.52

21

10.4

3.0

JP Morgan

11.2

6,570

3.16

29

5.5

5.7

UBS

10.8

6,339

n/a

17

10.7

0.1

Deutsche Bank AG

9.7

5,672

2.47

16

15.4

(5.7)

Bank of America Merrill Lynch

9.4

5,545

4.13

14

7.3

2.1

Morgan Stanley

9.2

5,407

2.63

19

6.8

2.4

Credit Suisse

4.1

2,382

2.84

17

5.5

(1.4)

Societe Generale

2.8

1,619

n/a

10

3.6

(0.8)

Barclays

2.3

1,339

4.28

12

6.2

(3.9)

Citi

10

2.2

1,311

4.68

6.6

(4.4)

Jefferies LLC

11

1.7

1,001

4.41

14

28

0.3

1.4

Nordea

12

1.7

976

n/a

Mediobanca

13

1.6

965

n/a

14

1.7

(0.1)

HSBC Bank PLC

14

1.5

873

1.50

15

1.7

(0.2)

BNP Paribas Group

15

1.2

687

n/a

13

2.3

(1.1)

Danske Markets

16

1.1

661

n/a

Numis Securities Ltd

17

1.1

655

2.27

34

0.2

0.9

Berenberg

18

1.0

590

n/a

22

0.5

0.5

70,000

Pareto Securities

19

0.9

516

n/a

36

0.2

0.7

60,000

RBS

20

0.8
100%

461
58,725

n/a
2.99

43
4
175 40,759

0.1

0.7

50,000

140

40,000

120

TOTAL

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm
Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals

100%

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

2.33%
27.97%
42.28%
9.37%
7.93%
10.12%

80,000

220
200
180
160

100

30,000

Includes all eligible equity, equity-linked & rights offerings from European, Middle Eastern and African issuers. Volume in USD millions.

80
20,000

60

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

40
Q
1

10,000

LREP <GO>
6

Bloomberg
Underwriter League Tables

Asia-Pacific Equity, Equity Linked & Rights


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Goldman Sachs & Co

9.7

4,422

2.62

16

15.6

(5.9)

Nomura Holdings Inc

9.6

4,376

2.56

35

4.5

5.1

Morgan Stanley

7.6

3,459

1.66

21

6.4

1.2

HSBC Bank PLC

5.2

2,386

0.68

13

2.1

3.1

Citi

5.0

2,256

3.40

13

4.7

0.3

Bank of America Merrill Lynch

4.9

2,220

0.56

11

12

2.9

2.0

UBS

4.4

2,014

2.74

26

13.3

(8.9)

Deutsche Bank AG

3.8

1,729

3.19

14

3.4

0.4

Credit Suisse

3.8

1,714

3.94

19

11

2.9

0.9

Sumitomo Mitsui Financial Group Inc

10

3.6

1,624

4.64

17

14

2.1

1.5

CITIC Securities Co Ltd

11

3.5

1,589

3.24

JP Morgan

12

3.3

1,486

2.31

14

6.5

GF Securities

13

2.5

1,132

5.85

37

0.2

2.3

Mizuho Financial Group Inc

14

2.4

1,081

3.89

15

4.0

(1.6)

China International Capital Corp

15

2.0

914

3.13

28

0.5

1.5

Daiwa Securities Group Inc

16

1.8

840

3.96

12

7.1

(5.3)

Guosen Securities Co Ltd

17

China Merchants Securities Co Ltd

18

CIMB

19

Bank of China

20
TOTAL

1.4
1.4
1.4
1.2
100%

649
649
636
566
45,510

5.47
4.56
4.67
3.72
4.71

8
9

4.18%
25.14%
23.46%
22.70%
14.98%
9.55%

Total:

100.00%

(3.2)

21

1.0

0.4

27

0.6

0.6

6
478 56,401

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

QUARTERLY VOLUME
USD (Mln) / #Deals
70,000

560

65,000

520

60,000
480

55,000
50,000

100%

440

45,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

400

40,000

Includes all eligible equity, equity-linked & rights offerings from Asia Pacific issuers. Volume in USD millions.

360

35,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

320
Q
1

30,000

LREP <GO>
7

Bloomberg
Underwriter League Tables

Corporate Bonds (All)


1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

6.6

71,545

0.56

376

7.4

(0.8)

Bank of America Merrill Lynch

6.4

68,891

0.50

661

5.9

0.5

Goldman Sachs & Co

5.7

61,977

0.43

293

5.5

0.2

Deutsche Bank AG

5.5

59,711

0.32

338

5.4

0.1

Barclays

5.4

58,716

0.31

338

4.3

1.1

Citi

5.4

58,223

0.56

377

5.5

(0.1)

HSBC Bank PLC

4.8

51,466

0.27

313

4.2

0.6

Morgan Stanley

4.2

45,428

0.51

684

4.2

BNP Paribas Group

3.4

37,161

0.29

218

2.9

0.5

Credit Suisse

10

3.3

35,983

0.43

221

10

2.6

0.7

RBS

11

2.6

27,754

0.37

171

14

2.0

0.6

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

UBS

12

2.5

27,124

0.75

329

13

2.2

0.3

Total:

RBC Capital Markets

13

2.4

26,370

0.58

199

12

2.2

0.2

Societe Generale

14

2.0

21,990

0.25

114

15

1.8

0.2

Credit Agricole CIB

15

1.8

19,547

0.40

114

17

1.3

0.5

Wells Fargo & Co

16

1.5

16,653

0.80

448

11

2.3

(0.8)

UniCredit

17

1.2

13,022

0.57

61

16

1.4

(0.2)

Banco Santander SA

18

1.2

12,669

0.36

77

25

0.8

0.4

1,100,000

Nomura Holdings Inc

19

1.1

11,900

0.28

132

19

0.9

0.2

1,000,000

Mizuho Financial Group Inc

20

1.1
100%

11,768
1,081,470

0.34
0.44

0.7

0.4

900,000

TOTAL

27
124
5,302 1,116,790

100%

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
1,200,000

5800

5600

5400

800,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

Includes all eligible corporate bonds worldwide.

2.45%
14.20%
57.08%
1.32%
5.89%
12.22%
6.85%

5200

700,000

Volume in USD millions.

5000
600,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

4800
Q
1

500,000

LREP <GO>
8

Bloomberg
Underwriter League Tables

International Bonds
2014
MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

MKT

SHARE

SHARE

CHG (%)

HSBC Bank PLC

7.1

84,899

0.19

367

5.9

Barclays

7.1

84,334

0.20

300

6.4

0.7

Deutsche Bank AG

6.2

74,142

0.22

339

7.0

(0.8)

Goldman Sachs & Co

6.2

73,925

0.26

263

6.4

(0.2)

JP Morgan

6.1

72,519

0.34

350

7.5

(1.4)

Citi

5.6

66,678

0.29

321

5.5

0.1

Bank of America Merrill Lynch

5.0

59,082

0.29

251

4.0

1.0

BNP Paribas Group

4.9

57,802

0.23

273

4.3

0.6

Credit Suisse

3.4

40,482

0.27

205

12

2.9

0.5

Morgan Stanley

10

3.2

38,409

0.27

173

3.6

(0.4)

RBS

11

3.2

38,378

0.27

171

13

2.9

0.3

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

Societe Generale

12

3.2

37,675

0.21

147

11

3.0

0.2

Total:

Credit Agricole CIB

13

2.9

34,112

0.25

137

15

2.3

0.6

UniCredit

14

2.3

27,852

0.32

127

10

3.5

(1.2)

RBC Capital Markets

15

2.1

25,194

0.31

152

14

2.3

(0.2)

UBS

16

1.9

22,248

0.54

167

17

1.9

Nomura Holdings Inc

17

Banco Santander SA

18

1.5

18,272

0.37

79

20

1.2

0.3

Landesbank Baden-Wuerttemberg

19

1.5

18,148

0.12

81

25

0.9

0.6

Natixis

20

1.5
100%

17,923
1,190,270

0.32
0.27

1.6

(0.1)

133

21

18
74
3,228 1,117,270

1.1

USD (Mln) / #Deals

0.4

1,400,000

4200

1,300,000

4000
3800

1,200,000

3600

1,100,000

3400
1,000,000

100%

3200
900,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

3000

800,000

2800

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

13

Q
4

Q
2

Q
3

12

13
20

20

12

12
20

11

12

20

20

20

11

11

LREP <GO>

20

20

LEAG <GO>

Q
1

2400
Q
4

2600

600,000
Q
3

700,000

Q
1

Includes all eligible international bonds; bonds that can be sold outside their domestic market. Volume in USD millions.

Q
2

0.17

100.00%

11

18,344

1.63%
8.78%
44.58%
30.14%
2.95%
6.82%
5.10%

QUARTERLY VOLUME

20

TOTAL

1.5

1.2

20

RANK

INDUSTRY BREAKDOWN

MKT

Q
1

FIRM

2013

13

3/31/14

20

20

1/1/14

LREP <GO>
9

Bloomberg
Underwriter League Tables

Global Bonds
2014
MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

MKT

SHARE

SHARE

CHG (%)

Barclays

12.0

33,507

0.22

94

9.8

2.2

JP Morgan

11.0

30,653

0.37

113

14.5

(3.5)

Goldman Sachs & Co

9.7

27,149

0.28

74

10.4

(0.7)

Bank of America Merrill Lynch

8.6

24,091

0.37

96

7.0

1.6

HSBC Bank PLC

8.6

24,064

0.21

59

10

4.2

4.4

Deutsche Bank AG

8.2

22,791

0.24

63

8.3

(0.1)

Citi

8.0

22,280

0.31

99

9.6

(1.6)

Morgan Stanley

4.9

13,593

0.26

50

7.1

(2.2)

RBC Capital Markets

4.0

11,132

0.33

49

4.9

(0.9)

RBS

10

3.2

8,892

0.33

50

14

1.8

1.4

Credit Suisse

11

2.8

7,802

0.34

27

12

2.6

0.2

TD Securities

12

2.5

6,963

0.10

14

13

2.0

0.5

BNP Paribas Group

13

2.5

6,951

0.31

34

4.4

(1.9)

Wells Fargo & Co

14

2.4

6,646

0.56

43

11

3.3

(0.9)

Nomura Holdings Inc

15

2.1

5,983

0.15

15

1.3

0.8

Mitsubishi UFJ Financial

16

0.9

2,575

0.54

24

18

0.8

0.1

Landesbank Baden-Wuerttemberg

17

0.8

2,310

0.13

BMO Capital Markets

18

0.8

2,277

0.87

17

1.0

Scotiabank

19

0.7

2,084

0.31

27

UBS

20

0.7
100%

1,869
279,526

0.60
0.30

16
12
296 262,142

QUARTERLY VOLUME
USD (Mln) / #Deals
300,000

300

(0.2)

280,000

280

0.3

0.4

260,000

1.2

(0.5)

240,000

260
240
220

100%

220,000
200

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

200,000

180

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

12

12
20

12

20

11

11

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

20

20

LREP <GO>

Q
1

140
Q
4

160

160,000
Q
3

180,000

Q
1

Includes all eligible bonds where Market of Issue is Global. Volume in USD millions.

LEAG <GO>

100.00%

11

12.12%
30.20%
33.89%
2.37%
10.20%
11.22%

Total:

20

TOTAL

Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

20

RANK

INDUSTRY BREAKDOWN

MKT

Q
2

FIRM

2013

11

3/31/14

20

1/1/14

LREP <GO>
10

Bloomberg
Underwriter League Tables

U.S. Bonds
2014
MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

MKT

SHARE

SHARE

CHG (%)

JP Morgan

11.7

66,272

0.56

296

14.0

(2.3)

Bank of America Merrill Lynch

10.8

60,933

0.45

612

9.9

0.9

Barclays

9.9

56,074

0.27

252

8.2

1.7

Goldman Sachs & Co

8.8

49,588

0.35

203

9.3

(0.5)

Citi

8.7

49,362

0.47

270

9.7

(1.0)

Deutsche Bank AG

6.9

39,200

0.30

177

6.9

Morgan Stanley

6.1

34,396

0.46

571

6.9

(0.8)

HSBC Bank PLC

5.3

29,875

0.20

109

12

3.4

1.9

Credit Suisse

4.4

24,721

0.42

127

10

3.5

0.9

Wells Fargo & Co

10

3.1

17,704

0.78

472

4.4

(1.3)

RBC Capital Markets

11

3.0

16,901

0.43

117

3.6

(0.6)

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

BNP Paribas Group

12

2.6

14,742

0.34

71

11

3.5

(0.9)

Total:

UBS

13

2.1

11,628

0.90

225

14

1.6

0.5

RBS

14

2.0

11,350

0.54

95

13

2.1

(0.1)

Nomura Holdings Inc

15

1.6

9,220

0.16

31

15

0.9

0.7

TD Securities

16

1.2

6,872

0.10

41

18

0.6

0.6

Mitsubishi UFJ Financial

17

US Bancorp

18

Jefferies LLC

19

Societe Generale

20

26

17

0.7

24

26

0.4

2,630 578,712

100%

0.3
0.2

3400

600,000

3200

560,000

3000

520,000
2800
480,000
2600
440,000

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

2400

400,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

13

20

Q
4

12

13
20

20

12

12
20

12

20

11

11

LREP <GO>

20

20

LEAG <GO>

Q
3

2000
Q
2

320,000
Q
1

2200

Q
4

360,000

Q
1

Includes U.S. Domestic, Yankee, Domestic Medium Term Notes and Global Bonds denominated in USD. Volume in USD millions.

Q
3

0.28
0.41

0.5

0.2

11

3,353
564,986

20

0.8

20

0.6
100%

0.65

34

16

20

4,236

0.62

53

USD (Mln) / #Deals

Q
2

0.7

4,476

0.65

100.00%

640,000

11

0.8

5,717

1.15%
13.01%
37.52%
22.81%
4.76%
12.35%
8.41%

QUARTERLY VOLUME

20

TOTAL

1.0

Q
1

RANK

INDUSTRY BREAKDOWN

MKT

13

FIRM

2013

20

3/31/14

20

1/1/14

LREP <GO>
11

Bloomberg
Underwriter League Tables

Euromarket Bonds
1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

HSBC Bank PLC

6.8

58,067

0.17

284

6.5

0.3

Barclays

5.9

49,894

0.17

193

5.4

0.5

BNP Paribas Group

5.8

49,436

0.17

226

4.6

1.2

Deutsche Bank AG

5.4

46,014

0.19

247

6.4

(1.0)

Goldman Sachs & Co

5.0

42,591

0.21

169

5.2

(0.2)

Citi

4.3

36,392

0.19

178

3.6

0.7

Societe Generale

4.3

36,331

0.20

137

4.1

0.2

JP Morgan

4.2

35,305

0.26

198

4.3

(0.1)

Credit Suisse

3.9

33,148

0.21

169

13

3.0

0.9

Credit Agricole CIB

10

3.9

32,953

0.23

128

11

3.2

0.7

RBS

11

3.5

29,319

0.21

120

10

3.4

0.1

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

Bank of America Merrill Lynch

12

3.3

27,831

0.12

126

15

2.5

0.8

Total:

UniCredit

13

3.2

27,463

0.32

125

5.0

(1.8)

Morgan Stanley

14

2.5

20,972

0.26

104

14

2.5

UBS

15

2.2

18,770

0.39

141

17

2.2

Natixis

16

2.1

17,723

0.22

72

16

2.3

Banco Santander SA

17

2.0

17,204

0.37

72

18

1.5

0.5

Landesbank Baden-Wuerttemberg

18

1.9

15,838

0.12

80

23

1.3

0.6

Commerzbank AG

19

1.7

14,579

0.22

103

20

1.5

0.2

Banco Bilbao Vizcaya Argentaria

20

1.4
100%

11,761
847,996

0.07
0.21

22
44
2,817 777,259

1.3

0.1

TOTAL

1.80%
7.77%
49.61%
29.78%
2.82%
5.37%
2.85%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals

(0.2)
1,000,000

3800
3600

900,000

3400
800,000

3200

700,000

100%

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

3000
2800

600,000

2600

Includes all eligible Euromarket bonds. Volume in USD millions.


500,000

2400

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

2200
Q
1

400,000

LREP <GO>
12

Bloomberg
Underwriter League Tables

Asian Local Currency Bonds


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

HSBC Bank PLC

8.0

3,676

0.15

87

9.0

(1.0)

Standard Chartered Bank

7.2

3,319

0.20

77

6.8

0.4

CIMB

6.5

2,976

0.20

61

3.1

3.4

Axis Bank Ltd

4.4

2,034

n/a

55

6.5

(2.1)

KB Investment & Securities Co Ltd

4.1

1,903

0.29

31

3.7

0.4

Maybank

4.1

1,899

n/a

33

15

1.6

2.5

DBS Group Holdings Ltd

3.6

1,639

0.20

29

13

1.8

1.8

Korea Investment & Securities Co

3.1

1,430

0.25

24

3.1

Shinhan Investment Corp

2.8

1,301

0.25

18

46

0.5

2.3

Deutsche Bank AG

10

2.1

971

0.20

16

10

2.3

(0.2)

ICICI

11

2.0

935

n/a

36

3.3

(1.3)

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

Woori Investment & Securities Co Ltd

12

2.0

919

0.27

17

2.9

(0.9)

Total:

Barclays

13

1.9

874

n/a

24

22

1.3

0.6

AmInvestment Bank Bhd

14

1.7

768

n/a

20

1.3

0.4

Siam Commercial Bank PCL

15

1.5

698

n/a

23

11

2.2

(0.7)

Yuanta Securities Co Ltd

16

1.5

667

n/a

23

44

0.6

0.9

ANZ Banking Group

17

1.4

666

n/a

49

0.5

0.9

Bangkok Bank PCL

18

1.4

655

0.02

21

18

1.5

(0.1)

AK Capital Services

19

1.4

640

n/a

42

17

1.6

(0.2)

56,000

Kasikornbank PCL

20

20

47

0.5

0.9

52,000

750

48,000

700

TOTAL

1.4

637

n/a

100%

45,968

0.27

664 52,980

100%

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

4.40%
17.83%
44.99%
7.66%
9.48%
11.25%
4.39%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
68,000

900

64,000

850

60,000
800

44,000

Includes all eligible bonds denominated in SGD, MYR, HKD, KRW, TWD, INR, THB, IDR, VND and PHP. Excludes issues that are callable or puttable

40,000

and mature in less than 12 months. Volume in USD millions.

36,000

650
600

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

550
Q
1

32,000

LREP <GO>
13

Bloomberg
Underwriter League Tables

U.S. Loans
-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

16.6

70,831

269

15.6

1.0

Bank of America Merrill Lynch

13.4

56,999

251

14.0

(0.6)

Wells Fargo & Co

8.9

37,781

160

7.9

1.0

Deutsche Bank AG

6.5

27,584

103

5.2

1.3

Citi

6.5

27,515

113

8.1

(1.6)

Barclays

6.0

25,539

105

5.9

0.1

Credit Suisse

4.9

20,801

102

5.2

(0.3)

Goldman Sachs & Co

4.2

18,020

91

4.8

(0.6)

RBC Capital Markets

3.9

16,699

77

10

3.0

0.9

Morgan Stanley

10

3.7

15,694

79

4.2

(0.5)

SunTrust Robinson Humphrey

11

2.1

8,846

58

17

1.3

0.8

UBS

12

1.9

7,881

45

12

2.2

(0.3)

Mitsubishi UFJ Financial

13

1.7

7,085

30

11

2.3

(0.6)

RBS

14

1.6

6,976

48

13

2.2

(0.6)

HSBC Bank PLC

15

1.6

6,618

28

21

1.1

0.5

PNC Bank

16

1.6

6,603

54

24

0.9

0.7

BNP Paribas Group

17

6,381

28

BMO Capital Markets

18

US Bancorp

19

Jefferies LLC

20
TOTAL

1.5
1.3

5,550

1.2
1.2
100%

5,273
5,228
425,911

49
34

18
22

1.3
1.0

0.2
0.3

15

1.5

(0.3)

16

1.4

(0.2)

35
826 448,523

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

4.22%
36.65%
20.96%
12.35%
9.48%
16.35%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
640,000

1200

600,000

1100

560,000
1000

520,000
480,000

100%

900

440,000

Includes all eligible U.S. loans. Volume in USD millions.

800

400,000
700

360,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

600
Q
1

320,000

LREP <GO>
14

Bloomberg
Underwriter League Tables

U.S. Leveraged Loans


MKT

SHARE

SHARE

CHG (%)

JP Morgan

13.3

35,082

149

11.7

1.6

Bank of America Merrill Lynch

10.5

27,651

148

13.4

(2.9)

Wells Fargo & Co

8.1

21,434

80

7.2

0.9

Deutsche Bank AG

8.1

21,330

84

7.3

0.8

Credit Suisse

7.7

20,314

100

7.5

0.2

Barclays

7.3

19,392

83

7.9

(0.6)

Goldman Sachs & Co

6.1

16,203

83

6.9

(0.8)

Morgan Stanley

5.6

14,723

75

5.8

(0.2)

Citi

5.4

14,139

65

6.8

(1.4)

RBC Capital Markets

10

4.3

11,414

57

10

3.7

0.6

UBS

11

2.6

6,798

44

11

3.2

(0.6)

Jefferies LLC

12

1.9

5,131

33

13

2.1

(0.2)

SunTrust Robinson Humphrey

13

1.9

5,073

38

14

1.6

0.3

BMO Capital Markets

14

1.7

4,489

40

15

1.2

0.5

RBS

15

1.6

4,125

33

17

0.9

0.7

General Electric Capital Corp

16

1.5

3,951

33

12

3.0

(1.5)

Kohlberg Kravis Roberts & Co

17

1.2

3,188

15

28

0.4

0.8

HSBC Bank PLC

18

1.1

2,966

17

27

0.4

Fifth Third Bancorp

19

0.9

2,249

22

22

BNP Paribas Group

20

0.8
100%

2,134
263,865

33
16
522 289,607

QUARTERLY VOLUME
USD (Mln) / #Deals
750

0.7

320,000

700

0.5

0.4

280,000

0.3

0.5

240,000

650
600
550

100%

200,000
500
160,000

450

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

12

13

20

20

20

20

20

12

12
20

11

11

LALT <GO>

20

20

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

Q
3

350
Q
2

400

80,000
Q
1

120,000

Q
1

rated at all. Volume in USD millions.

LREP <GO>

100.00%

360,000

Includes all eligible U.S. leveraged loans (spread of 225bp or more). Loans must be rated less than investment grade by at least one rating agency or not

LEAG <GO>

5.17%
47.14%
11.32%
10.85%
6.74%
18.77%

Total:

Q
4

TOTAL

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

12

RANK

20

DEAL
COUNT

Q
3

VOLUME
USD (Mln)

11

MKT
SHARE

20

RANK

INDUSTRY BREAKDOWN

MKT

20

FIRM

2013

Q
2

2014

3/31/14

11

20

1/1/14

LREP <GO>
15

Bloomberg
Underwriter League Tables

EMEA Loans Mandated Arranger


-

1/1/14

2014

3/31/14

FIRM

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

HSBC Bank PLC

6.9

9,704

69

4.7

2.2

BNP Paribas Group

5.8

8,085

54

6.3

(0.5)

Credit Agricole CIB

5.5

7,652

46

4.7

0.8

Barclays

4.8

6,698

52

11

3.0

1.8

Societe Generale

4.3

6,017

38

4.7

(0.4)

Deutsche Bank AG

4.2

5,899

34

4.7

(0.5)

RBS

4.0

5,648

49

3.7

0.3

Commerzbank AG

3.6

4,977

33

12

2.2

1.4

Citi

3.5

4,891

28

3.0

0.5

ING Groep NV

10

2.9

4,082

36

10

3.0

(0.1)

UniCredit

11

2.9

4,061

35

4.4

(1.5)

Bank of America Merrill Lynch

12

2.7

3,736

25

13

2.2

0.5

JP Morgan

13

2.2

3,106

20

16

2.0

0.2

Lloyds Bank PLC

14

2.1

3,005

30

22

1.5

0.6

Mitsubishi UFJ Financial

15

2.1

2,986

27

14

2.2

(0.1)

Goldman Sachs & Co

16

1.8

2,552

16

18

1.8

Natixis

17

1.8

2,527

24

3.3

(1.5)

Nomura Holdings Inc

18

1.8

2,514

43

0.5

1.3

280,000

Nordea

19

1.8

2,462

16

15

2.2

(0.4)

260,000

SEB

20

1.6
100%

2,175
140,035

30
14
191 222,074

1.1

0.5

240,000

TOTAL

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

5.96%
31.86%
16.56%
11.61%
17.72%
16.29%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals

320,000

480

300,000

440
400
360

220,000

100%

320

200,000

Includes all eligible European, Middle Eastern and African loans. Volume in USD millions.

280

180,000

240

160,000

200

140,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

160
Q
1

120,000

LREP <GO>
16

Bloomberg
Underwriter League Tables

EMEA Loans Book Runner


-

1/1/14

2014

3/31/14

FIRM

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Credit Agricole CIB

7.9

9,091

25

7.3

BNP Paribas Group

6.7

7,725

33

6.7

Deutsche Bank AG

6.1

7,041

25

5.4

0.7

Barclays

4.7

5,441

28

11

2.9

1.8

ING Groep NV

4.5

5,177

25

3.5

1.0

HSBC Bank PLC

4.3

4,923

37

3.7

0.6

Commerzbank AG

3.8

4,422

19

12

2.8

1.0

RBS

3.8

4,367

24

4.1

(0.3)

UniCredit

3.7

4,244

26

4.2

(0.5)

Societe Generale

10

3.5

4,087

23

6.2

(2.7)

Citi

11

3.4

3,963

18

10

3.0

0.4

Bank of America Merrill Lynch

12

2.8

3,207

17

15

2.3

0.5

DnB ASA

13

2.8

3,204

10

30

0.9

1.9

Credit Suisse

14

2.7

3,075

10

34

0.7

2.0

Mitsubishi UFJ Financial

15

2.4

2,765

15

13

2.6

(0.2)

Nordea

16

2.3

2,602

10

19

1.7

0.6

Natixis

17

2.1

2,473

16

5.1

(3.0)

Goldman Sachs & Co

18

2.1

2,394

13

18

2.0

0.1

Nomura Holdings Inc

19

1.9

2,222

35

0.6

1.3

220,000

JP Morgan

20

1.9
100%

2,175
115,430

14
12
135 183,353

2.6

(0.7)

200,000

TOTAL

0.6

100%

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

4.17%
32.48%
16.81%
10.80%
18.05%
17.68%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
280,000

320

260,000
280

240,000

240

180,000

Includes all eligible European, Middle Eastern and African loans. Volume in USD millions.

200

160,000
140,000

160

120,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

120
Q
1

100,000

LREP <GO>
17

Bloomberg
Underwriter League Tables

Asia ex-Japan Loans Mandated Arranger


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

State Bank of India

14.0

10,864

28

15.4

Sumitomo Mitsui Financial Group Inc

5.0

3,872

28

11

1.9

3.1

Bank of China

4.7

3,666

31

7.2

(2.5)

HSBC Bank PLC

4.5

3,533

38

3.0

1.5

Standard Chartered Bank

3.5

2,699

31

2.8

0.7

Mitsubishi UFJ Financial

3.2

2,455

20

15

1.7

1.5

BNP Paribas Group

3.0

2,311

20

37

0.7

2.3

United Overseas Bank

2.8

2,179

18

2.0

0.8

DBS Group Holdings Ltd

2.8

2,148

26

3.7

(0.9)

China Construction Bank

10

2.8

2,147

11

24

1.1

1.7

ANZ Banking Group

11

2.7

2,138

23

2.5

0.2

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

Mizuho Financial Group Inc

12

2.5

1,945

21

17

1.6

0.9

Total:

Axis Bank Ltd

13

2.4

1,903

40

0.7

1.7

Credit Agricole CIB

14

2.1

1,604

15

43

0.6

1.5

Oversea-Chinese Banking Corp

15

1.9

1,463

10

2.2

(0.3)

IDFC Capital Ltd

16

1.7

1,356

Deutsche Bank AG

17

1,268

13

Industrial & Comm Bank of China

18

Maybank

19

Bank of Taiwan

20
TOTAL

1.6
1.6
1.6
1.5
100%

1,240
1,222
1,160
77,774

12

6
12

2.5
1.9

13

1.8

15

21

1.4

210 69,553

(1.4)

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals

(0.9)
(0.3)
(0.2)
0.1

7.69%
16.97%
22.85%
1.42%
12.04%
31.30%
7.72%

95,000

340

90,000

320

85,000

300

80,000
280
75,000

100%

260
70,000

Includes all eligible loans from Asia Pacific excluding Japan, Australia, and New Zealand. Volume in USD millions.

240

65,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
4

200
Q
3

55,000
Q
2

220

Q
1

60,000

LREP <GO>
18

Bloomberg
Underwriter League Tables

Asia ex-Japan Loans Book Runner


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

State Bank of India

19.1

10,479

22

20.5

HSBC Bank PLC

7.2

3,960

18

13

2.1

5.1

Bank of China

5.5

3,018

21

5.9

(0.4)

Siam Commercial Bank PCL

4.6

2,539

11

2.2

2.4

Axis Bank Ltd

3.5

1,903

17

1.6

1.9

Standard Chartered Bank

3.4

1,895

15

5.2

(1.8)

Mizuho Financial Group Inc

3.2

1,768

14

18

1.5

1.7

Sumitomo Mitsui Financial Group Inc

2.9

1,609

10

24

1.1

1.8

BNP Paribas Group

2.8

1,523

11

19

1.5

1.3

IDFC Capital Ltd

10

2.4

1,317

Credit Agricole CIB

11

2.3

1,287

44

0.6

1.7

ANZ Banking Group

12

2.3

1,252

10

3.2

(0.9)

Bank of Taiwan

13

2.3

1,238

14

2.6

(0.3)

Mitsubishi UFJ Financial

14

2.1

1,140

25

1.1

1.0

China Construction Bank

15

1.9

1,032

37

0.8

1.1

DBS Group Holdings Ltd

16

1.9

1,016

10

2.3

(0.4)

Oversea-Chinese Banking Corp

17

920

United Overseas Bank

18

1.7

909

22

1.1

0.6

Taiwan Cooperative Bank

19

1.6

889

17

34

0.9

0.7

CIMB

20

1.6
100%

852
54,928

2
168 41,321

TOTAL

1.7

28

1.0

(1.4)

0.7

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm

7.56%
22.24%
24.05%
2.01%
14.29%
19.33%
10.52%

Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
70,000

220

65,000
200

60,000
55,000

180

50,000

100%

160

45,000

Includes all eligible loans from Asia Pacific excluding Japan, Australia, and New Zealand. Volume in USD millions.

40,000

140

35,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

13

14
20

Q
2

Q
1

13

Q
4

13

Q
2

Q
3

12

13

20

20

20

20

20

Q
1

12

12
20

Q
4

Q
3

11

12

20

20

20

11

11
20

11

LREP <GO>

20

20

LEAG <GO>

Q
2

120
Q
1

30,000

LREP <GO>
19

Bloomberg
Underwriter League Tables

Latin America Equity Offerings


-

1/1/14

2014

3/31/14

FIRM

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Deutsche Bank AG

34.9

622

n/a

11

3.3

31.6

Credit Suisse

32.8

584

n/a

20.0

12.8

Banco BTG Pactual SA

10.9

195

6.05

13.2

(2.3)

Bank of America Merrill Lynch

8.4

149

n/a

10

3.7

4.7

Citi

8.4

149

n/a

5.9

2.5

Banco Itau BBA SA

1.8

32

6.05

9.2

(7.4)

JP Morgan

1.8

32

6.05

14

2.4

(0.6)

Raymond James & Associates Inc

0.8

15

n/a

Bradesco BBI SA

9
TOTAL

0.3
100%

6
1,783

n/a
6.05

17

1.4

1
12 10,448

Basic Materials
Financial
Oil/Gas/Elect

33.27%
34.31%
32.42%

Total:

(1.1)

100.00%

100%

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

Includes all eligible equity offerings from Latin American issuers. Volume in USD millions.

QUARTERLY VOLUME
USD (Mln) / #Deals
12,000

24
22

10,000
20
8,000

18
16

6,000
14
4,000

12
10

2,000
8

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

20
1

20
1

LREP <GO>

20
1

20
1

LEAG <GO>

Q
2

6
Q
1

LREP <GO>
20

Bloomberg
Underwriter League Tables

Latin America Bonds


1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

HSBC Bank PLC

11.0

5,445

0.22

34

7.9

3.1

JP Morgan

9.6

4,734

0.26

26

9.7

(0.1)

Credit Suisse

8.2

4,078

0.21

11

13

3.0

5.2

Bradesco BBI SA

7.3

3,608

0.28

24

4.8

2.5

Bank of America Merrill Lynch

6.8

3,357

0.25

18

6.4

0.4

Citi

6.5

3,196

0.22

26

11.3

(4.8)

Goldman Sachs & Co

6.1

3,006

0.30

15

2.3

3.8

Banco do Brasil SA

5.9

2,940

0.26

19

8.9

(3.0)

Deutsche Bank AG

5.7

2,799

0.23

15

5.8

(0.1)

Banco Itau BBA SA

10

4.0

1,962

n/a

24

11

4.4

(0.4)

Banco Santander SA

11

3.9

1,929

0.23

21

5.6

(1.7)

BNP Paribas Group

12

3.0

1,501

0.29

18

1.0

2.0

Bank of China

13

2.9

1,417

n/a

Morgan Stanley

14

2.5

1,261

n/a

14

2.5

Credit Agricole CIB

15

2.3

1,144

0.29

Banco Bilbao Vizcaya Argentaria

16

2.1

1,053

n/a

15

10

4.6

Barclays

17

2.0

999

0.30

12

3.3

Mizuho Financial Group Inc

18

1.5

734

0.29

52,000

Pareto Securities

19

1.5

725

n/a

48,000

UBS

20

1.1
100%

560
49,514

n/a
0.25

2
121 39,408

44,000

170

40,000

160

TOTAL

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect
Tech/Comm
Total:

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals

(2.5)
(1.3)

100%

Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value

3.47%
5.92%
17.74%
20.96%
6.62%
42.46%
2.83%

56,000

210
200
190
180

150

36,000

Includes all eligible bonds with country of risk in South America, Mexico, Belize, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras,

140
32,000

Nicaragua & Panama. Includes Eurobonds and Global Bonds. Volume in USD millions.

130

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

20
1

20
1

LREP <GO>

20
1

20
1

LEAG <GO>

Q
2

120
Q
1

28,000

LREP <GO>
21

Bloomberg
Underwriter League Tables

Latin America Domestic Bonds


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Banco Itau BBA SA

22.2

1,734

22

7.6

Bradesco BBI SA

9.5

740

7.6

1.9

HSBC Bank PLC

6.9

543

14

8.3

(1.4)

Banco Bilbao Vizcaya Argentaria

6.6

515

16

5.7

0.9

Casa de Bolsa Banorte SA

6.3

491

11

19

1.2

5.1

Actinver Casa de Bolsa SA

5.8

453

Citi

5.0

387

11

5.6

(0.6)

Banco do Brasil SA

4.3

334

18.8

(14.5)

Banco Santander SA

4.0

310

14

7.4

(3.4)

Banco Votorantim SA

10

2.9

228

4.0

(1.1)

Scotiabank

11

2.9

223

13

2.1

0.8

Banco Safra SA

12

2.8

222

Banco BTG Pactual SA

13

2.5

199

3.0

(0.5)

CI Casa de Bolsa

14

2.4

186

44

0.2

2.2

Bank of America Merrill Lynch

15

2.0

158

29

0.7

1.3

Morgan Stanley

16

1.3

104

10

2.4

(1.1)

Itau Unibanco Holding SA

17

1.2

95

Finamex Casa de Bolsa SA de CV

18

1.1

87

Inversora Bursatil

19

1.0

82

16

1.4

Indusval Ctvm SA

20

1.0
100%

75
7,814

1
85 14,334

TOTAL

14.6

Basic Materials
Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect

5.39%
24.16%
21.15%
5.81%
6.24%
37.25%

Total:

100.00%

(0.4)
-

100%

Includes all eligible domestic bonds issued by Latin American companies with a minimum 12 month maturity. Volume in USD millions.

QUARTERLY VOLUME
USD (Mln) / #Deals
20,000

160
150

18,000

140
16,000

130

14,000

120

12,000

110
100

10,000

90
8,000

80

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

20
1

20
1

LREP <GO>

20
1

20
1

LEAG <GO>

Q
2

70
Q
1

6,000

LREP <GO>
22

Bloomberg
Underwriter League Tables

Brazil Domestic (Local Credit)


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DEAL

SHARE

BRL (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Banco Itau BBA SA

42.1

3,975

19

13.6

Bradesco BBI SA

18.5

1,742

14.3

4.2

Banco do Brasil SA

8.5

803

36.4

(27.9)

Banco Votorantim SA

5.8

550

5.9

(0.1)

HSBC Bank PLC

5.7

535

6.1

(0.4)

Banco Safra SA

5.6

530

Banco BTG Pactual SA

5.2

491

5.9

Itau Unibanco Holding SA

2.4

225

Indusval Ctvm SA

1.9

175

Banco Santander SA

10

1.6

150

7.9

Credit Suisse

11

1.1

105

BES Investimento SA

12

1.1

100

2.5

(1.4)

Arab Banking Corp

13

0.5
100%

50
9,432

11
1
42 15,475

1.2

(0.7)

TOTAL

28.5

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect
Tech/Comm

(0.7)
(6.3)
-

10.54%
25.30%
12.80%
7.83%
42.46%
1.07%

Total:

100.00%

100%
QUARTERLY VOLUME

Includes all local and global eligible bonds with a minimum 12 month maturity. Volume in BRL millions.

BRL (Mln) / #Deals


24,000

100

22,000

90

20,000
80

18,000
16,000

70

14,000

60

12,000

50

10,000
40

8,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

20
1

20
1

LREP <GO>

20
1

20
1

LEAG <GO>

Q
2

30
Q
1

6,000

LREP <GO>
23

Bloomberg
Underwriter League Tables

Mexico Domestic
MKT

SHARE

SHARE

CHG (%)

Casa de Bolsa Banorte SA

15.9

393

7.5

Actinver Casa de Bolsa SA

14.3

355

Banco Bilbao Vizcaya Argentaria

10.4

256

19.0

HSBC Bank PLC

9.9

246

11.7

(1.8)

Citi

8.4

208

24.3

(15.9)

Scotiabank

8.3

206

CI Casa de Bolsa

7.5

186

10

1.4

6.1

Banco Santander SA

6.9

170

9.1

(2.2)

Bank of America Merrill Lynch

4.6

114

5.3

(0.7)

Morgan Stanley

10

3.5

87

Interacciones Casa de Bolsa

11

2.6

64

Barclays

12

1.1

26

Casa de Bolsa Deutsche Bank

12

1.1

26

Casa De Bolsa Ve Por Mas SA de CV

12

1.1

26

JP Morgan

12

1.1

26

Monex Casa de Bolsa

12

1.1

26

Valores Mexicanos Casa Bolsa

12

1.1

26

Vector Casa de Bolsa

12

1.1

26

Finamex Casa de Bolsa SA de CV

19

0.2
100%

5
2,473

1
14 1,790

(8.6)

Consumer Prod/Svcs
Financial
Government
Industrial
Oil/Gas/Elect

QUARTERLY VOLUME
USD (Mln) / #Deals
7,000

36

6,000

32

5,000

28

4,000

24

3,000

20

2,000

16

1,000

12

LEAG <GO>

Q
1

Q
4

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
1

LALT <GO>

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

20
1

20
1

LREP <GO>

100.00%

100%

Includes all local and global eligible bonds with a minimum 12 month maturity. Volume in MXN millions.

LEAG <GO>

31.53%
11.40%
18.26%
7.01%
31.79%

Total:

Q
4

TOTAL

8.4

RANK

20
1

DEAL
COUNT

Q
3

VOLUME
USD (Mln)

MKT
SHARE

20
1

RANK

INDUSTRY BREAKDOWN

MKT

20
1

FIRM

2013

Q
2

2014

3/31/14

20
1

1/1/14

LREP <GO>
24

Bloomberg
Underwriter League Tables

Latin America Loans Mandated Arranger


MKT

SHARE

SHARE

CHG (%)

BNP Paribas Group

27.0

1,920

33

0.4

Mizuho Financial Group Inc

6.2

443

9.9

(3.7)

HSBC Bank PLC

5.3

377

17.0

(11.7)

Natixis

4.3

307

Citi

4.2

300

6.3

(2.1)

Sumitomo Mitsui Financial Group Inc

4.0

287

12.7

(8.7)

JP Morgan

3.5

248

5.5

(2.0)

Banco Itau BBA SA

3.0

216

13

1.5

1.5

Bank of America Merrill Lynch

3.0

213

3.6

(0.6)

Industrial & Comm Bank of China

10

2.9

208

17

1.2

1.7

Banco Bilbao Vizcaya Argentaria

11

2.9

206

5.7

(2.8)

Mitsubishi UFJ Financial

11

2.9

206

10.5

(7.6)

ING Groep NV

13

2.8

199

26

0.8

2.0

Standard Chartered Bank

14

2.2

159

2.7

(0.5)

Societe Generale

15

2.1

151

15

1.3

0.8

Banco Santander SA

16

2.0

144

14

1.3

0.7

Wells Fargo & Co

17

136

Bladex

18

1.9

133

Export Development Canada

19

1.8

129

Intesa Sanpaolo SpA

19

24

6,000

20

4,000

16

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

20
1

20
1

20
1

20
1

20
1

LREP <GO>

20
1

20
1

LEAG <GO>

Q
1

28

8,000

Q
4

10,000

Q
3

32

Q
2

36

12,000

Q
1

40

14,000

Q
4

16,000

Q
3

44

Q
2

48

18,000

20
1

100%

USD (Mln) / #Deals


20,000

Q
1

QUARTERLY VOLUME

100.00%

20
1

1
18 9,700

1.2

25.27%
40.03%
22.96%
4.32%
7.42%

Total:

Q
4

129
7,122

0.7

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect

1.8
100%

28

Q
1

TOTAL

1.9

26.6

20
1

RANK

Q
3

DEAL
COUNT

VOLUME
USD (Mln)

20
1

MKT
SHARE

20
1

RANK

INDUSTRY BREAKDOWN

MKT

Q
2

FIRM

2013

2014

3/31/14

20
1

1/1/14

LREP <GO>
25

Bloomberg
Underwriter League Tables

Latin America Loans Book Runner


-

1/1/14

2014

3/31/14

FIRM

RANK

2013

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

BNP Paribas Group

32.3

2,366

4.1

Mitsubishi UFJ Financial

19.8

1,450

14.7

5.1

Citi

9.7

710

14.5

(4.8)

HSBC Bank PLC

9.7

710

5.7

4.0

Standard Chartered Bank

5.5

405

4.0

1.5

Bladex

4.3

315

JP Morgan

3.5

260

5.3

(1.8)

Banco Itau BBA SA

2.9

216

14

1.8

1.1

Nederlandse Financierings-Maatschappij v

1.7

128

Mizuho Financial Group Inc

10

1.7

127

10.7

ING Groep NV

11

1.4

100

Sumitomo Mitsui Financial Group Inc

12

1.1

82

13.1

Industrial & Comm Bank of China

13

1.1

79

Natixis

13

1.1

79

Banco do Brasil SA

15

0.6

42

BES Investimento SA

16

0.4

31

Bradesco BBI SA

16

31

Bank of America Merrill Lynch

18

Credit Agricole CIB

18

Goldman Sachs & Co

18
TOTAL

0.4
0.3
0.3
0.3
100%

25
25
25
7,327

10

2.6

18

0.9

20 9,360

28.2

Basic Materials
Consumer Prod/Svcs
Financial
Industrial
Oil/Gas/Elect

(9.0)

24.57%
38.91%
25.11%
4.20%
7.21%

Total:

100.00%

(12.0)

(2.3)
(0.6)

QUARTERLY VOLUME
USD (Mln) / #Deals
18,000

45

16,000

40

14,000

35

12,000
30
10,000

100%

25
8,000
20

6,000

2014Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

Q
1

Q
4

Q
3

20
1

Q
2

20
1

Q
1

20
1

Q
4

20
1

Q
3

20
1

Q
2

20
1

Q
1

20
1

20
1

20
1

20
1

20
1

LREP <GO>

20
1

20
1

LEAG <GO>

Q
4

10
Q
3

2,000
Q
2

15

Q
1

4,000

LREP <GO>
26

Bloomberg League Tables Criteria


Credit is based on the total amount of the offering sold to the public. Full credit is awarded to sole book-running manager or split equally among joint
book-running managers. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/inc.
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.
U.S. dollar denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-U.S. dollar 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 will be 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 US$50 mln. 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.
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. Credit will be awarded equally
among multiple banks that share the highest agent/manager title. Credit is allocated to amended or amended and restated transactions, where each
modification is 100% at the lenders option and not as a result of events already built into the original credit agreement. Credit is awarded to following structural
changes only: 90 day or more maturity extensions, incremental basis for increased in deal size, reduction in pricing, full release of security.
Exclusions: Bilateral transactions, guaranteed deals (including but not limited to Letter of Guarantee, Performance Bond, CP Guarantee or Bank Guarantee),
deals with a maturity of less than 90 days (limit of one amended maturity per loan ,per year), cancelled or withdrawn transactions that are not executed prior to
deals cancellation or withdrawal.
Full versions of Bloombergs League Tables Standards & Guidelines can be accessed on Bloomberg Professional:
{IDOC 2016701<GO>}: Equity
{IDOC 2027097<GO>}: Equity Linked
{IDOC 2061504<GO>}: Structured Notes
{IDOC 2016703<GO>}: Fixed Income
{IDOC 2065648<GO>}: Syndicated Loans
{IDOC 2027014<GO>}: Legal Adviser Fixed Income
{IDOC 2021549<GO>}: Legal Adviser Equity
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.