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2012LeagueTables2012League Tables 2012LeagueT
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Top UnderwriteBloomberg
1/1/12 - 12/31/12
Mkt Shr Amount FeEquity Top Underwriter (%) USD (Mln) (%
Global Equity, Equity Linked & Rights Morgan Stanely 8.7 $51,441 2
U.S. Equity & Equity Linked Citi 12.5 $30,361 2
EMEA Equity, Equity Linked & Rights Offerings Goldman Sachs & Co 12.1 $14,657Asia-Pacific Equity, Equity Linked & Rights UBS 9.2 $15,534 2
Debt
Corporate Bonds (All) JP Morgan 6.8 $268,041 0
International Bonds JP Morgan 7.4 $278,491 0
Global Bonds JP Morgan 13.4 $126,768 0
U.S. Bonds JP Morgan 12.7 $257,944
Euromarket Bonds Deutsche Bank AG 6.1 $152,874 0
Asia-Pacific Bonds Morgan Stanely 4.5 $52,990 0
Syndicated Loans
U.S. Loans JP Morgan 17.7 $267,296
U.S. Leverage Loans Bank of America Merrill Lynch 13.1 $83,297
EMEA Loans Mandated Arranger BNP Parabas Group 4.9 $36,085
EMEA Loans Book Runner BNP Parabas Group 5.6 $35,589
Asia e Japan Loans Mandated Arranger State Bank of India 10 9 $30 619
Year 2012
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Global Equity, Equity Linked & Rights ReviewBloomberg
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Global Equity, Equity Linked & Rights Quarterly Volume
Notable Highlights
EMEA Equity, Equity Linked & Rights Quarterly Volume
US Equity & Equity Linked Quarterly Volume
APAC Equity, Equity Linked & Rights Quarterly Volume
* All 2012 YTD numbers as of September 28th, 2012
Globally, volume increased and issuance decreased compared with last year by 4.65% and 12.46%, respectively, to $592.07 bln and 3,126 offerings.
US is the only region to report an increase in volume this year to $242.47 bln compared with $183.27 bln raised last year, and an increase in issuance by 119 offerings to 796
deals. In terms of fourth quarter activity, US is the only region which saw a fall in volume in the last quarter of the year.
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Global Fixed Income ReviewBloomberg
LEAG LREP LMX LALT LEAG LREP
2013 Bloomberg Finance L.P. All rights reserved.
Global Bond Quarterly Volume
Notable Highlights
EMEA Corporate Quarterly Volume
US Corporate Bond Quarterly Volume
APAC Corporate Bond Quarterly Volume
* All YTD numbers as of 01/02/2013
Corporate bond issuance volume increased 36% during the fourth quarter of 2012 compared to the fourth quarter of 2011, with all regions experiencing individual increases.
US Corporate bonds led the way with a 70% increase in issuance year over year for the fourth quarter. Asia-Pac and EMEA regions saw 15% and 9% increases respectively.
The total number of deals closed decreased 5.8% for the same time period. US Corporate bond deals decreased 22%, a stark contrast to the increase seen in issuance
volume. Global Bond and Asia-Pac deals closed increased 22% and 12% respectively.
0
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Deal Count
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VolumeUSD(Billions)
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Deal Count
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Bloomberg
Global Equity, Equity Linked & Rights1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
8.32Morgan Stanley 51,441 2.63 2711 8.7 0.4
8.91Goldman Sachs & Co 50,504 2.80 2532 8.5 (0.4)
7.24JP Morgan 50,187 2.96 3193 8.5 1.3
5.77Citi 49,673 2.48 2914 8.4 2.7
7.43Bank of America Merrill Lynch 46,269 2.79 3015 7.8 0.4
6.26Deutsche Bank AG 40,263 2.48 2626 6.8 0.6
6.45Credit Suisse 37,092 2.59 2607 6.3 (0.1)
5.38UBS 34,500 2.66 2548 5.8 0.5
4.19Barclays 31,163 2.01 1949 5.3 1.2
--Banque Saudi Fransi 13,015 n/a 310 2.2 -
1.213RBC Capital Markets 10,741 3.44 13511 1.8 0.6
1.810Nomura Holdings Inc 10,491 4.10 6812 1.8 -
1.511Wells Fargo & Co 10,441 2.87 13013 1.8 0.3
1.412HSBC Bank PLC 9,023 3.06 5114 1.5 0.1
1.115BNP Paribas Group 4,893 2.89 3015 0.8 (0.3)
0.350Sumitomo Mitsui Financial Group Inc 4,750 3.13 2316 0.8 0.5
0.626BMO Capital Markets 4,662 4.15 4417 0.8 0.2
0.352Societe Generale 4,287 n/a 2418 0.7 0.40.627Jefferies Group Inc 4,085 4.91 7619 0.7 0.1
1.116Daiwa Securities Group Inc 3,886 3.13 4420 0.7 (0.4)
TOTAL 100% 100%592,066 3,1263.05 565,756
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible global equity, equity-linked & rights offering. Volume in USD millions.
Bas ic Mater ia ls 5 .55%
Consumer Prod/Svcs 20.29%
Financial 37.58%
Industrial 8.34%
Oil /Gas/Elect 15.53%
Tech/Comm 12.71%
Total: 100.00%
INDUSTRY BREAKDOWN
40,000
80,000
120,000
160,000
200,000
240,000
280,000
320,000
360,000
200
400
600
800
1000
1200
1400
1600
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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8/26
Bloomberg
Global Equity & Equity Linked1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
8.82Morgan Stanley 50,935 2.63 2681 9.4 0.6
8.91Goldman Sachs & Co 49,269 2.80 2452 9.1 0.2
5.86Citi 47,713 2.48 2813 8.8 3.0
7.24JP Morgan 45,084 2.96 3054 8.4 1.2
7.63Bank of America Merrill Lynch 43,790 2.79 2935 8.1 0.5
5.67Deutsche Bank AG 37,375 2.48 2496 6.9 1.3
6.35Credit Suisse 34,404 2.59 2497 6.4 0.1
4.29Barclays 30,657 2.01 1908 5.7 1.5
5.18UBS 30,222 2.66 2349 5.6 0.5
1.312RBC Capital Markets 10,672 3.44 13510 2.0 0.7
1.711Wells Fargo & Co 10,441 2.87 13011 1.9 0.2
2.010Nomura Holdings Inc 9,561 4.10 6212 1.8 (0.2)
1.115HSBC Bank PLC 6,509 3.06 4113 1.2 0.1
0.346Sumitomo Mitsui Financial Group Inc 4,750 3.13 2314 0.9 0.6
0.723BMO Capital Markets 4,662 4.15 4415 0.9 0.2
0.724Jefferies Group Inc 4,085 4.91 7616 0.8 0.1
1.213Daiwa Securities Group Inc 3,886 3.13 4417 0.7 (0.5)
1.017TD Securities 3,786 4.13 3918 0.7 (0.3)0.820Guosen Securities Co Ltd 3,618 5.13 2319 0.7 (0.1)
0.821CITIC Securities Co Ltd 3,607 4.11 2120 0.7 (0.1)
TOTAL 100% 100%539,327 2,9573.05 510,987
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible equity & equity-linked offerings. Rights offerings are excluded. Excludes Renminbi denominated offers. Volume in USD millions.
Bas ic Mater ia ls 5 .42%
Consumer Prod/Svcs 21.36%
Financial 37.49%
Industrial 8.41%
Oil /Gas/Elect 16.02%
Tech/Comm 11.30%
Total: 100.00%
INDUSTRY BREAKDOWN
40,000
80,000
120,000
160,000
200,000
240,000
280,000
200
400
600
800
1000
1200
1400
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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9/26
Bloomberg
Global Equity Linked1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
10.71Goldman Sachs & Co 5,961 2.89 221 9.8 (0.9)
3.89Deutsche Bank AG 5,877 2.83 352 9.7 5.9
9.42JP Morgan 5,534 2.71 383 9.1 (0.3)
6.05Bank of America Merrill Lynch 5,209 2.81 304 8.6 2.6
9.23Morgan Stanley 4,311 3.48 275 7.1 (2.1)
5.36Credit Suisse 4,300 3.33 246 7.1 1.8
8.14Citi 3,707 2.79 297 6.1 (2.0)
3.110Barclays 3,141 2.52 218 5.2 2.1
5.07UBS 2,137 3.54 169 3.5 (1.5)
2.112BNP Paribas Group 1,989 n/a 1310 3.3 1.2
1.813RBC Capital Markets 1,425 3.62 1711 2.3 0.5
2.211Nomura Holdings Inc 1,296 n/a 812 2.1 (0.1)
1.815China International Capital Corp 1,264 n/a 113 2.1 0.3
--Guosen Securities Co Ltd 958 n/a 114 1.6 -
1.814HSBC Bank PLC 888 2.50 615 1.5 (0.3)
0.342ABG Sundal Collier Asa 835 n/a 416 1.4 1.1
0.630Wells Fargo & Co 779 3.00 1217 1.3 0.7
0.924Societe Generale 754 n/a 618 1.2 0.31.317RBS 603 n/a 519 1.0 (0.3)
--DBS Group Holdings Ltd 599 n/a 620 1.0 -
TOTAL 100% 100%60,860 3223.16 65,399
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible equity-linked offerings. Rights offerings are excluded. Excludes Renminbi denominated offers. Volume in USD millions.
Bas ic Mater ia ls 7 .34%
Consumer Prod/Svcs 29.46%
Financial 20.88%
Industrial 17.81%
Oil /Gas/Elect 15.38%
Tech/Comm 9.12%
Total: 100.00%
INDUSTRY BREAKDOWN
4,000
8,000
12,000
16,000
20,000
24,000
28,000
32,000
36,000
20
40
60
80
100
120
140
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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10/26
Bloomberg
Americas Equity Offerings1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
7.47Citi 30,250 2.46 1931 11.4 4.0
9.82Bank of America Merrill Lynch 26,351 2.78 2002 9.9 0.1
7.66Barclays 24,984 1.97 1513 9.4 1.8
9.23Morgan Stanley 24,640 2.66 1544 9.3 0.1
10.01JP Morgan 24,453 3.02 1815 9.2 (0.8)
7.65Goldman Sachs & Co 21,086 2.76 1376 7.9 0.3
8.74Credit Suisse 19,354 2.61 1517 7.3 (1.4)
5.58Deutsche Bank AG 18,988 2.42 1458 7.1 1.6
4.39UBS 10,171 2.64 1029 3.8 (0.5)
4.010Wells Fargo & Co 9,569 2.83 11610 3.6 (0.4)
2.511RBC Capital Markets 9,043 3.42 10811 3.4 0.9
1.514BMO Capital Markets 4,284 4.20 3612 1.6 0.1
2.112TD Securities 3,351 4.15 3013 1.3 (0.8)
1.216Jefferies Group Inc 3,181 4.97 6014 1.2 -
1.415CIBC 2,584 4.21 3215 1.0 (0.4)
0.919Scotiabank 2,004 4.49 2716 0.8 (0.1)
-73Allen & Co 1,962 1.56 217 0.7 0.7
1.117Banco BTG Pactual SA 1,888 3.16 2818 0.7 (0.4)--Raymond James Morgan Keegan 1,828 4.80 4019 0.7 -
0.722Macquarie Group Ltd 1,448 1.87 2720 0.5 (0.2)
TOTAL 100% 100%265,729 1,1532.92 204,298
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible equity offerings from U.S., Canada and Latin America issuers. Volume in USD millions.
Bas ic Mater ia ls 4 .73%
Consumer Prod/Svcs 15.49%
Financial 45.17%
Industrial 3.91%
Oil /Gas/Elect 20.20%
Tech/Comm 10.49%
Total: 100.00%
INDUSTRY BREAKDOWN
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
100
150
200
250
300
350
400
450
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
U.S. Equity & Equity Linked1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
10.15Citi 30,361 2.48 2011 12.5 2.4
11.22Bank of America Merrill Lynch 27,109 2.77 2022 11.2 -
9.06Barclays 25,976 1.97 1603 10.7 1.7
12.71JP Morgan 25,773 3.03 1954 10.6 (2.1)
10.93Morgan Stanley 25,554 2.67 1605 10.5 (0.4)
10.64Goldman Sachs & Co 23,988 2.81 1456 9.9 (0.7)
8.67Credit Suisse 19,181 2.60 1507 7.9 (0.7)
6.58Deutsche Bank AG 18,893 2.43 1488 7.8 1.3
5.49UBS 10,500 2.63 1059 4.3 (1.1)
4.610Wells Fargo & Co 10,308 2.83 12710 4.3 (0.3)
1.312RBC Capital Markets 4,755 2.66 6311 2.0 0.7
1.411Jefferies Group Inc 3,402 5.00 6212 1.4 -
-53Allen & Co 1,962 1.56 213 0.8 0.8
--Raymond James Morgan Keegan 1,952 4.45 3514 0.8 -
0.515Macquarie Group Ltd 1,304 1.44 815 0.5 -
0.134KKR Capital Markets LLC 1,297 2.46 316 0.5 0.4
0.516Stifel Nicolaus Weisel 1,230 5.85 3417 0.5 -
0.319KeyBanc Capital Markets 1,057 4.33 1218 0.4 0.10.614Piper Jaffray & Co 816 5.99 2219 0.3 (0.3)
0.221Robert W Baird & Co 757 5.35 1920 0.3 0.1
TOTAL 100% 100%242,468 7962.77 183,273
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible equity & equity-linked offerings from U.S. issuers. Volume in USD millions.
Bas ic Mater ia ls 2 .89%
Consumer Prod/Svcs 17.54%
Financial 44.20%
Industrial 3.75%
Oil /Gas/Elect 18.91%
Tech/Comm 12.71%
Total: 100.00%
INDUSTRY BREAKDOWN
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
40
80
120
160
200
240
280
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
62013Bloomberg Finance L.P. All rights reserved.
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12/26
Bloomberg
EMEA Equity, Equity Linked & Rights Offerings1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
11.61Goldman Sachs & Co 14,657 5.61 301 12.1 0.5
11.12Deutsche Bank AG 12,276 4.45 542 10.2 (0.9)
6.66JP Morgan 11,036 3.82 413 9.1 2.5
8.73Morgan Stanley 10,941 1.87 384 9.1 0.4
8.04Credit Suisse 9,524 1.72 415 7.9 (0.1)
7.55Bank of America Merrill Lynch 8,668 5.15 326 7.2 (0.3)
5.57UBS 7,855 6.41 447 6.5 1.0
5.18Citi 5,866 1.09 188 4.9 (0.2)
3.79BNP Paribas Group 4,435 n/a 249 3.7 -
1.119Societe Generale 4,287 n/a 2410 3.6 2.5
2.712HSBC Bank PLC 3,255 n/a 1311 2.7 -
3.610Barclays 3,086 6.87 2012 2.6 (1.0)
1.813Nomura Holdings Inc 2,617 n/a 1113 2.2 0.4
1.020Mediobanca 2,101 4.00 914 1.7 0.7
--Finansbank AS 1,256 n/a 115 1.0 -
0.331Investec PLC 1,132 n/a 616 0.9 0.6
1.416Intesa Sanpaolo SpA 1,058 n/a 317 0.9 (0.5)
3.011UniCredit 918 n/a 1018 0.8 (2.2)1.415Commerzbank AG 832 n/a 519 0.7 (0.7)
0.150Nordea 803 n/a 620 0.7 0.6
TOTAL 100% 100%120,727 3622.82 137,638
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible equity, equity-linked & rights offerings from European, Middle Eastern and African issuers. Volume in USD millions.
Bas ic Mater ia ls 8 .37%
Consumer Prod/Svcs 19.75%
Financial 35.28%
Industrial 12.30%
Oil /Gas/Elect 11.61%
Tech/Comm 12.69%
Total: 100.00%
INDUSTRY BREAKDOWN
0
20,000
40,000
60,000
80,000
100,000
40
60
80
100
120
140
160
180
200
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
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2010
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2011
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2011
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2011
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2011
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2012
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2012
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2012
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2012
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QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
Asia-Pacific Equity, Equity Linked & Rights1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
6.13UBS 15,534 2.47 1001 9.2 3.1
6.62Morgan Stanley 13,661 2.44 622 8.1 1.5
2.911Citi 11,934 3.00 633 7.1 4.2
3.68JP Morgan 11,184 2.19 684 6.6 3.0
7.21Goldman Sachs & Co 10,629 2.89 695 6.3 (0.9)
3.97Deutsche Bank AG 8,377 2.59 576 5.0 1.1
4.74Bank of America Merrill Lynch 8,010 2.38 487 4.8 0.1
3.96Nomura Holdings Inc 7,852 4.10 568 4.7 0.8
4.25Credit Suisse 6,696 2.09 559 4.0 (0.2)
0.828Sumitomo Mitsui Financial Group Inc 4,750 3.13 2310 2.8 2.0
1.915HSBC Bank PLC 4,723 2.72 3211 2.8 0.9
3.110Daiwa Securities Group Inc 3,876 3.11 4312 2.3 (0.8)
2.014CITIC Securities Co Ltd 3,771 4.11 2213 2.2 0.2
2.013Guosen Securities Co Ltd 3,618 5.13 2314 2.1 0.1
1.222Mizuho Financial Group Inc 3,318 3.03 1915 2.0 0.8
3.29China International Capital Corp 3,073 3.99 1316 1.8 (1.4)
0.926CIMB 3,042 1.82 2217 1.8 0.9
1.517Macquarie Group Ltd 2,187 2.68 3018 1.3 (0.2)1.518DBS Group Holdings Ltd 2,018 2.39 2719 1.2 (0.3)
1.419Bank of China 2,001 3.24 1720 1.2 (0.2)
TOTAL 100% 100%168,429 1,5103.51 196,468
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible equity, equity-linked & rights offerings from Asia Pacific issuers. Volume in USD millions.
Bas ic Mater ia ls 4 .94%
Consumer Prod/Svcs 27.80%
Financial 33.57%
Industrial 13.04%
Oil /Gas/Elect 11.02%
Tech/Comm 9.62%
Total: 100.00%
INDUSTRY BREAKDOWN
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
100
200
300
400
500
600
700
800
900
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
82013Bloomberg Finance L.P. All rights reserved.
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8/13/2019 MA Capital Markets League Tables 2012
14/26
Bloomberg
Corporate Bonds (All)1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
5.91JP Morgan 268,041 0.58 15851 6.8 0.9
4.74Citi 212,805 0.60 13862 5.4 0.7
5.13Bank of America Merrill Lynch 196,750 0.67 27573 5.0 (0.1)
5.22Deutsche Bank AG 184,611 0.49 12164 4.7 (0.5)
4.46Morgan Stanley 172,425 0.52 23985 4.4 -
4.45Barclays 170,636 0.55 13226 4.3 (0.1)
4.17Goldman Sachs & Co 170,556 0.50 8597 4.3 0.2
3.68HSBC Bank PLC 160,729 0.35 11758 4.1 0.5
3.19UBS 117,108 0.65 11929 3.0 (0.1)
2.911Credit Suisse 113,121 0.56 70510 2.9 -
2.910BNP Paribas Group 108,693 0.37 66211 2.8 (0.1)
2.712RBS 103,841 0.50 71312 2.6 (0.1)
1.516Wells Fargo & Co 87,651 0.84 198113 2.2 0.7
1.714RBC Capital Markets 73,700 0.71 56514 1.9 0.2
1.317Credit Agricole CIB 62,211 0.41 32015 1.6 0.3
1.913UniCredit 59,016 0.51 28816 1.5 (0.4)
1.218Societe Generale 54,383 0.26 30817 1.4 0.2
1.119Mizuho Financial Group Inc 47,749 0.36 40918 1.2 0.11.022Nomura Holdings Inc 39,282 0.32 42719 1.0 -
0.731DZ Bank AG 34,082 0.08 40420 0.9 0.2
TOTAL 100% 100%3,944,560 20,8590.51 3,286,760
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible corporate bonds worldwide. Volume in USD millions.
Bas ic Mater ia ls 4 .79%
Consumer Prod/Svcs 14.39%
Financial 50.42%
Government 2.22%
Industrial 8.09%
Oil /Gas/Elect 13.31%
Tech/Comm 6.78%
Total: 100.00%
INDUSTRY BREAKDOWN
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
4200
4400
4600
4800
5000
5200
5400
5600
5800
6000
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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15/26
Bloomberg
International Bonds1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
5.83JP Morgan 278,491 0.41 13611 7.4 1.6
6.91Barclays 255,272 0.28 11592 6.8 (0.1)
6.72Deutsche Bank AG 246,281 0.30 12453 6.6 (0.1)
4.56Citi 214,105 0.41 10454 5.7 1.2
5.34HSBC Bank PLC 204,814 0.29 11235 5.4 0.1
5.05BNP Paribas Group 171,937 0.22 8066 4.6 (0.4)
3.79Bank of America Merrill Lynch 162,561 0.48 8587 4.3 0.6
4.08Goldman Sachs & Co 162,490 0.36 6678 4.3 0.3
4.47UBS 139,416 0.27 7499 3.7 (0.7)
2.912Morgan Stanley 133,162 0.42 63010 3.5 0.6
3.011Credit Suisse 127,214 0.30 64011 3.4 0.4
3.110RBS 113,701 0.39 64412 3.0 (0.1)
2.813UniCredit 108,911 0.36 45313 2.9 0.1
2.514Credit Agricole CIB 95,897 0.23 39314 2.6 0.1
2.015Societe Generale 79,158 0.20 37715 2.1 0.1
1.817RBC Capital Markets 59,802 0.38 37516 1.6 (0.2)
1.818Natixis 56,298 0.24 25617 1.5 (0.3)
1.320DZ Bank AG 54,593 0.11 56618 1.5 0.21.519Landesbank Baden-Wuerttemberg 46,915 0.03 39219 1.2 (0.3)
1.222Commerzbank AG 44,375 0.19 24720 1.2 -
TOTAL 100% 100%3,758,730 12,5690.34 3,565,190
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible international bonds; bonds that can be sold outside their domestic market. Volume in USD millions.
Bas ic Mater ia ls 3 .23%
Consumer Prod/Svcs 8.60%
Financial 45.28%
Government 27.63%
Industrial 3.75%
Oil/Gas/Ele ct 6.87%
Tech/Comm 4.64%
Total: 100.00%
INDUSTRY BREAKDOWN
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
1,400,000
1,500,000
2400
2600
2800
3000
3200
3400
3600
3800
4000
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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8/13/2019 MA Capital Markets League Tables 2012
16/26
8/13/2019 MA Capital Markets League Tables 2012
17/26
Bloomberg
U.S. Bonds1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
12.61JP Morgan 257,944 0.48 13191 12.7 0.1
8.64Citi 194,209 0.49 10592 9.6 1.0
9.83Bank of America Merrill Lynch 185,162 0.61 27583 9.1 (0.7)
10.42Barclays 175,736 0.35 8744 8.7 (1.7)
6.86Deutsche Bank AG 144,614 0.37 7245 7.1 0.3
6.77Morgan Stanley 140,514 0.50 21296 6.9 0.2
7.35Goldman Sachs & Co 138,218 0.45 6747 6.8 (0.5)
4.49Credit Suisse 91,861 0.39 5258 4.5 0.1
6.78UBS 90,279 0.41 9029 4.5 (2.2)
3.213Wells Fargo & Co 90,210 0.78 208310 4.5 1.3
3.811HSBC Bank PLC 81,554 0.27 40911 4.0 0.2
4.110BNP Paribas Group 69,348 0.22 35912 3.4 (0.7)
3.212RBS 57,612 0.53 40113 2.8 (0.4)
1.914RBC Capital Markets 41,009 0.55 31914 2.0 0.1
0.516Mitsubishi UFJ Financial 14,639 0.59 11515 0.7 0.2
0.615Jefferies Group Inc 13,750 0.17 17916 0.7 0.1
0.326Mizuho Financial Group Inc 12,325 0.48 9517 0.6 0.3
0.325US Bancorp 11,386 0.63 8718 0.6 0.30.324Credit Agricole CIB 10,967 0.60 9619 0.5 0.2
0.517Nomura Holdings Inc 10,662 0.12 6220 0.5 -
TOTAL 100% 100%2,026,670 9,8020.46 1,668,880
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes U.S. Domestic, Yankee, Domestic Medium Term Notes and Global Bonds denominated in USD. Volume in USD millions.
Bas ic Mater ia ls 4 .62%
Consumer Prod/Svcs 15.07%
Financial 30.31%
Government 24.41%
Industrial 5.27%
Oil /Gas/Elect 11.68%
Tech/Comm 8.64%
Total: 100.00%
INDUSTRY BREAKDOWN
300,000
350,000
400,000
450,000
500,000
550,000
600,000
650,000
700,000
2000
2200
2400
2600
2800
3000
3200
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
Euromarket Bonds1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
6.71Deutsche Bank AG 152,874 0.26 8911 6.1 (0.6)
5.52HSBC Bank PLC 141,957 0.28 8612 5.7 0.2
4.84Barclays 138,312 0.25 8133 5.5 0.7
5.33BNP Paribas Group 121,350 0.23 6194 4.9 (0.4)
3.37JP Morgan 110,647 0.28 6945 4.4 1.1
3.95UniCredit 107,352 0.36 4446 4.3 0.4
3.46Credit Agricole CIB 90,486 0.17 3507 3.6 0.2
3.011Citi 89,760 0.24 5458 3.6 0.6
3.38UBS 85,638 0.22 5569 3.4 0.1
3.19RBS 82,497 0.25 46410 3.3 0.2
3.010Credit Suisse 80,935 0.20 45311 3.2 0.2
2.613Goldman Sachs & Co 80,154 0.17 35012 3.2 0.6
2.712Societe Generale 75,014 0.19 35013 3.0 0.3
2.216Bank of America Merrill Lynch 62,227 0.24 40214 2.5 0.3
2.415Natixis 56,642 0.23 25515 2.3 (0.1)
1.819Morgan Stanley 55,211 0.35 35416 2.2 0.4
1.818DZ Bank AG 54,593 0.11 56617 2.2 0.4
2.117Landesbank Baden-Wuerttemberg 46,915 0.03 39218 1.9 (0.2)1.720Commerzbank AG 43,705 0.19 24219 1.7 -
2.514Intesa Sanpaolo SpA 36,630 0.91 12520 1.5 (1.0)
TOTAL 100% 100%2,501,450 11,0530.24 2,569,230
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible Euromarket bonds. Volume in USD millions.
Bas ic Mater ia ls 2 .02%
Consumer Prod/Svcs 7.41%
Financial 53.71%
Government 25.40%
Industrial 3.30%
Oil/Gas/Ele ct 5.14%
Tech/Comm 3.02%
Total: 100.00%
INDUSTRY BREAKDOWN
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2000
2200
2400
2600
2800
3000
3200
3400
3600
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
Asian Local Currency Bonds1/1/12 - 12/31/12
FIRM
USD (Mln)
RANKMKT
SHARE
DEAL
COUNT
VOLUMEMKT
SHARE
RANK
MKT
SHARE
CHG (%)
DISCL
FEES (%)*
20112012
Underwriter League Tables
7.91HSBC Bank PLC 17,238 0.22 4171 7.4 (0.5)
5.62Standard Chartered PLC 14,913 0.18 2972 6.4 0.8
5.13CIMB 9,894 0.13 2563 4.3 (0.8)
2.89DBS Group Holdings Ltd 9,140 0.16 904 3.9 1.1
3.08Axis Bank Ltd 7,854 n/a 2605 3.4 0.4
3.85KB Investment & Securities Co Ltd 7,467 0.28 1426 3.2 (0.6)
4.44Maybank 7,126 0.25 1577 3.1 (1.3)
3.06Woori Investment & Securities Co Ltd 7,124 0.28 1058 3.1 0.1
2.013Korea Investment & Securities Co 6,774 0.27 1529 2.9 0.9
2.410ICICI 4,842 n/a 19610 2.1 (0.3)
1.128Bangkok Bank PCL 4,654 0.08 7011 2.0 0.9
1.715Barclays 4,608 n/a 14712 2.0 0.3
1.620RHB 4,221 0.36 15613 1.8 0.2
2.212TongYang Securities Inc 4,036 0.30 10014 1.7 (0.5)
1.521Shinhan Investment Corp 3,889 0.27 6315 1.7 0.2
0.935Oversea-Chinese Banking Corp 3,666 n/a 6916 1.6 0.7
0.836Siam Commercial Bank PCL 3,607 n/a 4717 1.6 0.8
3.07AmInvestment Bank Bhd 3,525 n/a 10018 1.5 (1.5)0.838Bank of China 3,234 n/a 2419 1.4 0.6
1.226Deutsche Bank AG 3,195 0.17 9020 1.4 0.2
TOTAL 100% 100%231,739 3,1670.28 195,674
Weighted Average Disclosed Fees - only issues that have fee information available are used in calculating this value*
Includes all eligible bonds denominated in SGD, MYR, HKD, KRW, TWD, INR, THB, IDR, VND and PHP. Excludes issues that ar e callable or puttable
and mature in less than 12 months. Volume in USD millions.
Bas ic Mater ia ls 4 .77%
Consumer Prod/Svcs 10.70%
Financial 54.35%
Government 3.48%
Industrial 9.66%
Oil /Gas/Elect 12.15%
Tech/Comm 4.88%
Total: 100.00%
INDUSTRY BREAKDOWN
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
500
550
600
650
700
750
800
850
900
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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8/13/2019 MA Capital Markets League Tables 2012
20/26
Bloomberg
U.S. Loans1/1/12 - 12/31/12
FIRM RANKMKT
SHARE
DEAL
COUNT
MKT
SHARE
RANK
MKT
SHARE
CHG (%)
VOLUME
USD (Mln)
20112012
Underwriter League Tables
20.41JP Morgan 9371 17.7 (2.7)267,269
18.02Bank of America Merrill Lynch 9582 15.6 (2.4)234,899
10.53Citi 4083 9.8 (0.7)148,270
9.64Wells Fargo & Co 7224 8.9 (0.7)134,859
4.35Barclays 3265 5.7 1.485,688
3.66Credit Suisse 2366 3.4 (0.2)51,176
2.310Morgan Stanley 1967 3.2 0.948,569
3.17RBS 2238 2.9 (0.2)43,582
2.111Goldman Sachs & Co 1879 2.9 0.843,275
2.69Deutsche Bank AG 21310 2.8 0.242,367
1.317RBC Capital Markets 21111 2.7 1.440,251
2.012Mitsubishi UFJ Financial 17812 2.1 0.131,289
2.78BNP Paribas Group 10213 2.0 (0.7)29,977
1.415US Bancorp 23014 1.8 0.426,649
1.416PNC Bank 24115 1.6 0.224,548
1.514SunTrust Robinson Humphrey 18916 1.6 0.124,316
0.920UBS 12217 1.4 0.521,385
1.118General Electric Capital Corp 21218 1.3 0.219,2040.821BMO Capital Markets 16619 1.2 0.418,510
1.019KeyBanc Capital Markets 15120 1.2 0.218,412
TOTAL 100% 100%3,1351,508,830
Includes all eligible U.S. loans. Volume in USD millions.
1,772,050
Bas ic Mater ia ls 3 .99%
Consumer Prod/Svcs 35.64%
Financial 17.14%
Industrial 11.31%
Oil /Gas/Elect 17.19%
Tech/Comm 14.73%
Total: 100.00%
INDUSTRY BREAKDOWN
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
550,000
100
200
300
400
500
600
700
800
900
1000
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
U.S. Leveraged Loans1/1/12 - 12/31/12
FIRM RANKMKT
SHARE
DEAL
COUNT
MKT
SHARE
RANK
MKT
SHARE
CHG (%)
VOLUME
USD (Mln)
20112012
Underwriter League Tables
16.91Bank of America Merrill Lynch 4871 13.1 (3.8)83,297
13.92JP Morgan 3642 12.8 (1.1)81,297
8.53Wells Fargo & Co 3283 8.0 (0.5)51,145
7.14Credit Suisse 2054 7.1 -45,074
5.16Barclays 2015 6.2 1.139,833
5.75Citi 1686 6.1 0.438,950
4.59Goldman Sachs & Co 1597 5.5 1.035,149
4.77Morgan Stanley 1468 5.2 0.533,419
2.512RBC Capital Markets 1599 4.4 1.928,142
4.68Deutsche Bank AG 15610 4.4 (0.2)27,761
2.810General Electric Capital Corp 19611 2.8 -17,645
1.815UBS 9912 2.4 0.615,483
2.711SunTrust Robinson Humphrey 12213 2.3 (0.4)14,434
1.416BMO Capital Markets 12414 2.2 0.813,920
1.021Jefferies Group Inc 7215 1.9 0.912,078
2.014RBS 8716 1.8 (0.2)11,625
1.318KeyBanc Capital Markets 9617 1.5 0.29,569
2.113BNP Paribas Group 4918 1.3 (0.8)8,2161.120PNC Bank 8919 1.1 -7,277
0.426Mitsubishi UFJ Financial 3520 1.0 0.66,230
TOTAL 100% 100%1,708637,491
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
rated at all. Volume in USD millions.
592,762
Bas ic Mater ia ls 4 .28%
Consumer Prod/Svcs 41.09%
Financial 10.33%
Industrial 11.55%
Oil /Gas/Elect 13.33%
Tech/Comm 19.42%
Total: 100.00%
INDUSTRY BREAKDOWN
0
40,000
80,000
120,000
160,000
200,000
240,000
0
100
200
300
400
500
600
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
EMEA Loans Mandated Arranger1/1/12 - 12/31/12
FIRM RANKMKT
SHARE
DEAL
COUNT
MKT
SHARE
RANK
MKT
SHARE
CHG (%)
VOLUME
USD (Mln)
20112012
Underwriter League Tables
5.81BNP Paribas Group 2611 4.9 (0.9)36,085
4.73HSBC Bank PLC 2612 4.6 (0.1)33,658
4.82RBS 2123 4.5 (0.3)33,283
4.25Deutsche Bank AG 1854 4.1 (0.1)30,431
3.67Barclays 1895 3.8 0.228,213
3.68Citi 1696 3.8 0.227,758
3.212JP Morgan 1337 3.7 0.527,338
3.310UniCredit 1948 3.6 0.326,715
4.06Societe Generale 1899 3.5 (0.5)25,726
4.54Credit Agricole CIB 15910 3.3 (1.2)23,980
3.49ING Groep NV 18611 2.8 (0.6)20,959
3.211Commerzbank AG 19312 2.8 (0.4)20,707
2.713Bank of America Merrill Lynch 10213 2.3 (0.4)16,708
2.117Banco Santander SA 10014 2.3 0.216,577
2.314Mitsubishi UFJ Financial 10215 2.2 (0.1)15,934
1.324Credit Suisse 7116 2.1 0.815,733
1.521Banco Bilbao Vizcaya Argentaria 10717 2.0 0.515,056
2.216Lloyds TSB Corporate Markets 14018 2.0 (0.2)14,4762.315Natixis 11719 1.9 (0.4)13,632
1.325Mizuho Financial Group Inc 7720 1.6 0.311,552
TOTAL 100% 100%1,124736,230
Includes all eligible European, Middle Eastern and African loans. Volume in USD millions.
1,120,000
Bas ic Mater ia ls 9 .74%
Consumer Prod/Svcs 28.15%
Financial 16.33%
Government 5.76%
Industrial 15.00%
Oil /Gas/Elect 16.34%
Tech/Comm 8.67%
Total: 100.00%
INDUSTRY BREAKDOWN
80,000
120,000
160,000
200,000
240,000
280,000
320,000
160
200
240
280
320
360
400
440
480
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
EMEA Loans Book Runner1/1/12 - 12/31/12
FIRM RANKMKT
SHARE
DEAL
COUNT
MKT
SHARE
RANK
MKT
SHARE
CHG (%)
VOLUME
USD (Mln)
20112012
Underwriter League Tables
7.61BNP Paribas Group 1701 5.6 (2.0)35,589
4.66Deutsche Bank AG 1362 5.5 0.935,050
3.412JP Morgan 993 5.1 1.732,376
5.15HSBC Bank PLC 1414 4.5 (0.6)28,741
4.57Citi 1125 4.5 -28,678
5.34RBS 1196 4.3 (1.0)27,065
3.79UniCredit 1227 4.0 0.325,523
5.53Societe Generale 1068 4.0 (1.5)25,188
4.38Barclays 1039 4.0 (0.3)25,071
6.22Credit Agricole CIB 10510 3.8 (2.4)24,292
2.814Bank of America Merrill Lynch 7011 3.2 0.420,486
3.610Commerzbank AG 14012 3.0 (0.6)18,794
3.511ING Groep NV 10913 3.0 (0.5)18,698
1.819Banco Santander SA 5814 2.7 0.916,890
1.620Morgan Stanley 3215 2.3 0.714,863
1.421Banco Bilbao Vizcaya Argentaria 6216 2.3 0.914,735
1.322Credit Suisse 4617 2.2 0.914,183
3.313Natixis 7018 1.9 (1.4)12,2362.216Lloyds TSB Corporate Markets 7119 1.9 (0.3)12,038
2.415Mitsubishi UFJ Financial 5620 1.8 (0.6)11,383
TOTAL 100% 100%788633,522
Includes all eligible European, Middle Eastern and African loans. Volume in USD millions.
937,595
Basic Materials 10.37%
Consumer Prod/Svcs 29.94%
Financial 14.70%
Government 6.43%
Industrial 14.05%
Oil /Gas/Elect 14.86%
Tech/Comm 9.65%
Total: 100.00%
INDUSTRY BREAKDOWN
80,000
120,000
160,000
200,000
240,000
280,000
120
160
200
240
280
320
360
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
Asia ex-Japan Loans Mandated Arranger1/1/12 - 12/31/12
FIRM RANKMKT
SHARE
DEAL
COUNT
MKT
SHARE
RANK
MKT
SHARE
CHG (%)
VOLUME
USD (Mln)
20112012
Underwriter League Tables
11.11State Bank of India 771 10.9 (0.2)30,619
6.02Bank of China 1352 6.4 0.417,847
2.77DBS Group Holdings Ltd 993 4.2 1.511,783
2.49Korea Development Bank 694 3.4 1.09,488
4.23HSBC Bank PLC 1225 3.4 (0.8)9,404
2.211United Overseas Bank 656 3.3 1.19,309
3.45Sumitomo Mitsui Financial Group Inc 1017 3.0 (0.4)8,436
3.84Standard Chartered PLC 1238 3.0 (0.8)8,407
1.319Maybank 469 2.6 1.37,161
2.310Oversea-Chinese Banking Corp 6610 2.4 0.16,789
2.58Mitsubishi UFJ Financial 8111 2.4 (0.1)6,687
1.027KB Financial Group 3712 2.3 1.36,473
2.212Mizuho Financial Group Inc 8513 2.0 (0.2)5,529
2.213IDBI Bank Ltd 1814 1.8 (0.4)5,077
0.648China Development Bank 1915 1.7 1.14,849
0.931Bank of Taiwan 6816 1.6 0.74,454
3.26Axis Bank Ltd 2417 1.6 (1.6)4,360
1.914ICICI 2218 1.5 (0.4)4,3311.815ANZ Banking Group 6019 1.5 (0.3)4,295
1.417CIMB 3320 1.3 (0.1)3,695
TOTAL 100% 100%1,067280,052
Includes all eligible loans from Asia Pacific excluding Japan, Australia, and New Zealand. Volume in USD millions.
327,013
Bas ic Mater ia ls 9 .23%
Consumer Prod/Svcs 18.58%
Financial 30.46%
Industrial 19.44%
Oil /Gas/Elect 15.94%
Tech/Comm 6.35%
Total: 100.00%
INDUSTRY BREAKDOWN
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
80
120
160
200
240
280
320
360
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg
Asia ex-Japan Loans Book Runner1/1/12 - 12/31/12
FIRM RANKMKT
SHARE
DEAL
COUNT
MKT
SHARE
RANK
MKT
SHARE
CHG (%)
VOLUME
USD (Mln)
20112012
Underwriter League Tables
11.71State Bank of India 381 11.6 (0.1)19,212
6.42Bank of China 492 8.0 1.613,241
3.07Korea Development Bank 323 4.3 1.37,073
4.04Standard Chartered PLC 654 4.1 0.16,774
4.43HSBC Bank PLC 495 3.5 (0.9)5,853
1.520Bank of Taiwan 586 3.3 1.85,482
0.648KB Financial Group 217 3.3 2.75,479
3.56IDBI Bank Ltd 148 2.9 (0.6)4,835
3.65Axis Bank Ltd 239 2.7 (0.9)4,404
2.69Sumitomo Mitsui Financial Group Inc 3110 2.5 (0.1)4,198
2.78DBS Group Holdings Ltd 3611 2.4 (0.3)4,023
2.311ICICI 1412 2.2 (0.1)3,602
0.740China Development Bank 1013 2.0 1.33,323
2.014Mega Financial Holding Co Ltd 5114 2.0 -3,297
1.718Mizuho Financial Group Inc 3515 1.7 -2,839
1.225Shinhan Financial Group Co Ltd 1916 1.6 0.42,721
2.015Taiwan Cooperative Bank 5917 1.6 (0.4)2,616
2.016ANZ Banking Group 2718 1.5 (0.5)2,5170.643Woori Finance Holdings Co Ltd 1319 1.5 0.92,441
1.128United Overseas Bank 2120 1.4 0.32,333
TOTAL 100% 100%623165,663
Includes all eligible loans from Asia Pacific excluding Japan, Australia, and New Zealand. Volume in USD millions.
228,344
Basic Materials 10.48%
Consumer Prod/Svcs 20.46%
Financial 28.15%
Industrial 20.29%
Oil /Gas/Elect 12.79%
Tech/Comm 7.83%
Total: 100.00%
INDUSTRY BREAKDOWN
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
70,000
60
80
100
120
140
160
180
200
220
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
QUARTERLY VOLUMEUSD (Mln) / Deals
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Bloomberg League Criteria
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 informationherein 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 onthe Bloomberg Professional Service.
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 jointbook-running managers. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/inc.
Fixed IncomeAll 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- LinkedEquity-linked transactions: convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/puttablein 12 months or longer are included. Make-whole calls, provisional calls, and provisional puts are exempt from this rule. Convertible bonds withattached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which canbe 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 inan underlying fund or investment trust, pre-IPO convertible instruments, certain lower hierarch titles, i.e. Jr Bookrunner.
EquitiesEquity market transactions: initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rightsofferings. Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certainlower hierarch titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional table.
LoansIncludes executed syndicated loans transactions. Full credit is awarded to the sole bank satisfying the highest of the titles. Credit will be awarded equallyamong 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 structuralchanges 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 todeals cancellation or withdrawal.
Full versions of Bloomberg s League Tables Standards & Guidelines can be accessed on Bloomberg Professional:{IDOC 2016701}: Equity {IDOC 2027097}: Equity Linked {IDOC 2061504}: Structured Notes{IDOC 2016703}: Fixed Income {IDOC 2065648}: Syndicated Loans {IDOC 2027014}: Legal Adviser Fixed Income{IDOC 2021549}: Legal Adviser Equity