MA Capital Markets League Tables 2012

8/13/2019 MA Capital Markets League Tables 2012

1/26

2012LeagueTables2012League Tables 2012LeagueT


2/26


3/26

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


4/26

Global Equity, Equity Linked & Rights ReviewBloomberg

LEAG GO> LREP GO> LMX GO> LALT GO> LEAG GO> LREP GO> 2013 Bloomberg Finance L.P. All rights reserved.

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.

0

200

400

600

800

1,000

1,200

1,400

1,600

$0

$50

$100

$150

$200

$250

$300

$350

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

DealCount

TotalVolumeinUSD(Billions)

Volume

Deal Count

0

50

100

150

200

250

300

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

DealCount

Tota

lVolumeinUSD(Billions)

Volume

Deal Count

$0

$20

$40

$60

$80

$100

$120

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

0

50

100

150

200

250

300

350

TotalVolumeinUSD(Billions)

DealCount

Volume

Deal Count

0

100

200

300

400

500

600

700

800

900

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

$0

$25

$50

$75

$100

$125

$150

DealCount

TotalVolumeUSD(Billions)

Volume

Deal Count


5/26

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

500

1,000

1,500

2,000

2,500

3,000

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

$500

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

Issuance

VolumeinUSD(Billions)

Volume

Deal Count

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

0

500

1000

1500

2000

2500

3000

3500

VolumeinUSD(Billions)

Issuance

Volume

Deal Count

0

50

100

150

200

250

300

350

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

Issuance

VolumeUSD(Billions)

Volume

Deal Count

0

200

400

600

800

1000

1200

1400

1600

1800

2007

Q4

2008

Q4

2009

Q4

2010

Q4

2011

Q4

2012

Q4

$0

$50

$100

$150

$200

$250

$300

$350

Issaucne

VolumeUSD(Billions)

Volume

Deal Count


6/26


7/26

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

22013Bloomberg Finance L.P. All rights reserved.

LEAG GO> LREP GO>EAG GO>ALT GO>MX GO>REP GO>


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


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


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


1.711Wells 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



0.724Jefferies Group Inc 4,085 4.91 7616 0.8 0.1


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


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



Financial 37.49%

Industrial 8.41%


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





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


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)


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


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


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



Financial 20.88%

Industrial 17.81%


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





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


7.47Citi 30,250 2.46 1931 11.4 4.0


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)



2.112TD 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


Includes all eligible equity offerings from U.S., Canada and Latin America issuers. Volume in USD millions.



Financial 45.17%

Industrial 3.91%


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





11/26

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


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)


1.411Jefferies 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


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



Financial 44.20%

Industrial 3.75%


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





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


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


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



Financial 35.28%

Industrial 12.30%


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

Q3

2010

Q4

2011

Q1

2011

Q2

2011

Q3

2011

Q4

2012

Q1

2012

Q2

2012

Q3

2012

Q4





13/26

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


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


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)


1.915HSBC Bank PLC 4,723 2.72 3211 2.8 0.9


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


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



Financial 33.57%

Industrial 13.04%


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





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


5.91JP Morgan 268,041 0.58 15851 6.8 0.9

4.74Citi 212,805 0.60 13862 5.4 0.7


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 -


2.712RBS 103,841 0.50 71312 2.6 (0.1)

1.516Wells Fargo & Co 87,651 0.84 198113 2.2 0.7


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


Includes all eligible corporate bonds worldwide. Volume in USD millions.



Financial 50.42%

Government 2.22%

Industrial 8.09%


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





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


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



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



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


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



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





16/26


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


12.61JP Morgan 257,944 0.48 13191 12.7 0.1

8.64Citi 194,209 0.49 10592 9.6 1.0


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


3.212RBS 57,612 0.53 40113 2.8 (0.4)


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


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



Financial 30.31%

Government 24.41%

Industrial 5.27%


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





18/26

Bloomberg

Euromarket Bonds1/1/12 - 12/31/12

FIRM

USD (Mln)

RANKMKT

SHARE

DEAL

COUNT

VOLUMEMKT

SHARE

RANK

MKT

SHARE

CHG (%)

DISCL

FEES (%)*

20112012


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


3.37JP Morgan 110,647 0.28 6945 4.4 1.1

3.95UniCredit 107,352 0.36 4446 4.3 0.4


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



2.415Natixis 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


Includes all eligible Euromarket bonds. Volume in USD millions.



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





19/26

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


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


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.



Financial 54.35%

Government 3.48%

Industrial 9.66%


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





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


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



Financial 17.14%

Industrial 11.31%


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





21/26

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



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



Financial 10.33%

Industrial 11.55%


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





22/26

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



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


2.117Banco 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



Financial 16.33%

Government 5.76%

Industrial 15.00%


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





23/26

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



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


TOTAL 100% 100%788633,522

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

937,595

Basic Materials 10.37%


Financial 14.70%

Government 6.43%

Industrial 14.05%


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





24/26

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


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


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



Financial 30.46%

Industrial 19.44%


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





25/26

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


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%


Financial 28.15%

Industrial 20.29%


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





26/26

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

Documents

MA Capital Markets League Tables 2012