GLOBAL FIXED INCOME LEAGUE TABLES

Transcription

1 GLOBAL FIXED INCOME LEAGUE TABLES 1 st 3Q 215

2 1 st 3Q 215 MANAGER RANKINGS GLOBAL FIXED INCOME CONTENTS 1. Global market review 2. US market review 3. Canada market review 4. Latin America market review 5. EMEA market review 6. Asia market review 7. Table criteria Bloomberg s corporate bond database consists of more than 1.9 million active securities--including convertible bonds and preferred securities--along with more than 4.1 million matured, called or retired bonds, covering over 24, unique issuers across more than 13 countries and 1 different currencies. LEAG<GO> for a full range of league tables NIM<GO> for Bloomberg s new issue monitor Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service. DATA SUBMISSIONS AND QUERIES Contact Phone North America Dean Psomaras newissues@bloomberg.net EMEA Jorge Fernandez emeacapmkts@bloomberg.net Asia Pacific Carissa Chua nimap@bloomberg.net 215 Bloomberg Finance L.P. All rights reserved.

3 Global Fixed Income Review 1st 3Q 215 credited Corporate & Financial Bonds volume decreased 4.68% to USD 3.1 Trln while deal count decreased 1.22% to 11,335 offerings year-on-year. Corporate Bonds volume increased 4.12% year-on-year to USD 1.5 Trln while the deal count decreased 5.48% to 4,66. Financial Bonds volume decreased 11.75% yearon-year to USD 1.6 Trln over 6,729 deals. JP Morgan ranked as the top Corporate & Financial Bonds underwriter for 1st 3Q 215 with 6.81% market share. The bank underwrote 1,286 deals over the period. and Citi ranked second and third with 5.76% and 5.6% market share, respectively. USD Bln Corporate & Financial Bonds: Highlights of 1st 3Q 215 Top Underwriter 1,4 1,2 1, JP Morgan Number of deals 1,286 21,971 Avg size (USD Market Summary Number of deals 11,335 3,96,87 Avg size (USD Issuer Corporate & Financial Bonds: Quarterly Volume Other High Yield Investment Grade Industry 6, 5, 4, 3, 2, Date Agricultural Bank of China Ltd Financials 6,386 3/11/215 AT&T Inc Communications 5, 4/23/215 Industrial Bank Co Ltd Financials 4,836 1/13/215 Shanghai Pudong Development Bank Co Ltd Shanghai Pudong Development Bank Co Ltd Financials 4,8 3/17/215 Financials 4,711 9/1/215 Xiamen C&D Corp Ltd Financials 4,71 9/7/215 CCO Safari II LLC Communications 4,5 7/9/215 Bank of China Ltd Financials 4,472 3/13/215 Actavis Funding SCS Health Care 4, 3/3/215 Postal Savings Bank of China Corp Ltd Financials 3,926 9/1/215 Global Corporate Leveraged Finance: Quarterly Volume USD Bln Basis points 6% 7% 4 2 Q3 Q Q3 Q Q3 Q Global Sponsor-Led Loans Corporate High Yield Bonds Q3 Q Q3 Q Financials 52% Consumer Discretionary 7% Energy 7% Industrials 7% Health Care 6% Others 21% Q3 Q Corporate & Financial Bonds: Industry Breakdown 21% 7% Corporate & Financial Bonds: Spread to Benchmark % 52% High Yield Investment Grade Bloomberg Global Fixed Income 1st 3Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q , Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q

4 Corporate Bonds Share JP Morgan , , Deutsche Bank , Goldman Sachs , Citi , Barclays , Morgan Stanley , HSBC , Credit Suisse , Wells Fargo , BNP Paribas , Mizuho Financial , RBC Capital Markets , Mitsubishi UFJ Financial , Societe Generale , UBS , Credit Agricole CIB , RBS , Industrial & Comm Bank of China , China Construction Bank , TOTAL 1% 1,57,476 4,66 1% International Bonds Share JP Morgan ,868 1, Barclays , , Deutsche Bank , Citi , HSBC ,972 1, Goldman Sachs , Morgan Stanley , Credit Suisse , BNP Paribas , Credit Agricole CIB , Societe Generale , Wells Fargo , UBS , RBC Capital Markets , UniCredit , RBS , Nomura , Natixis , TD Securities , TOTAL 1% 2,874,199 7,28 1% Financial Bonds Share JP Morgan , Citi , Goldman Sachs , , HSBC , Deutsche Bank , Morgan Stanley , UBS , Credit Suisse , Barclays , BNP Paribas , Wells Fargo , RBC Capital Markets , Credit Agricole CIB , CITIC Securities Co Ltd , Societe Generale , Natixis , UniCredit , Nomura , Commerzbank , TOTAL 1% 1,589,331 6,729 1% Global Bonds Share JP Morgan , Barclays , , Citi , Goldman Sachs , Morgan Stanley , Wells Fargo , Deutsche Bank , HSBC , Credit Suisse , TD Securities , RBC Capital Markets , BNP Paribas , Mizuho Financial , Mitsubishi UFJ Financial , UBS , Nomura , Scotiabank , BMO Capital Markets , US Bancorp , TOTAL 1% 825, % Bloomberg Global Fixed Income 1st 3Q 215 2

5 Corporate High Yield Bonds Share JP Morgan , , Citi , Goldman Sachs , Deutsche Bank , Morgan Stanley , Barclays , Credit Suisse , Wells Fargo , UBS , RBC Capital Markets , HSBC , BNP Paribas , Credit Agricole CIB , UniCredit , SunTrust Robinson Humphrey , Jefferies , Nomura , Societe Generale , RBS , TOTAL 1% 347, % Bloomberg Global Fixed Income 1st 3Q 215 3

6 US Fixed Income Review 1st 3Q 215 credited US Corporate Bonds volume increased 6.5% to USD 1.3 Trln while deal count decreased 6.9% to 2,133 offerings year-on-year. US Investment Grade Corporate Bonds volume increased 15.57% year-on-year to USD 1. Trln while the deal count increased 2.61% to 1,574. US High Yield Corporate Bonds volume decreased 14.79% year-on-year to USD Bln over 48 deals. JP Morgan ranked as the top US Corporate Bonds underwriter for 1st 3Q 215 with 12.6% market share. The bank underwrote 922 deals over the period. and Citi ranked second and third with 11.33% and 8.94% market share, respectively. USD Bln Top Underwriter Q3 Q US Corporate Bonds: Highlights of 1st 3Q 215 JP Morgan Number of deals ,92 Avg size (USD Market Summary Number of deals 2,133 1,277,2 Avg size (USD US Domestic Bonds: Quarterly Volume Q3 Q Q3 Q Issuer Industry Date AT&T Inc Communications 5, 4/23/215 CCO Safari II LLC Communications 4,5 7/9/215 Actavis Funding SCS Health Care 4, 3/3/215 AbbVie Inc Health Care 3,75 5/5/215 AbbVie Inc Health Care 3,75 5/5/215 Frontier Communications Corp Communications 3,6 9/11/215 Actavis Funding SCS Health Care 3,5 3/3/215 AT&T Inc Communications 3,5 4/23/215 CCO Safari II LLC Communications 3,5 7/9/215 CVS Health Corp Consumer Staples 3,5 7/13/215 Other High Yield Investment Grade Q3 Q Q3 Q Q3 Q ,8 1,5 1, 5 USD Bln Basis points 7% 8% 6% % 5% US Leveraged Finance: Quarterly Volume Q3 Q Q3 Q Q3 Q US Leveraged Loans US High Yield Corporate Bonds Q3 Q Q3 Q Financials 36% Health Care 12% Energy 11% Consumer Discretionary 8% Technology 8% Communications 7% Consumer Staples 6% Industrials 5% Others 7% Q3 Q US Corporate Bonds: Industry Breakdown US Domestic Bonds: Spread to Benchmark 7% 11% Q3 Q % 36% Q3 Q Q3 Q Q3 Q High Yield Investment Grade Q3 Q Q3 Q Bloomberg Global Fixed Income 1st 3Q 215 4

7 US Domestic Bonds Share JP Morgan , ,687 1, Citi , Barclays , Goldman Sachs , Morgan Stanley , Wells Fargo , Deutsche Bank , HSBC , Credit Suisse , RBC Capital Markets , BNP Paribas , UBS , TD Securities , Mizuho Financial , Mitsubishi UFJ Financial , Nomura , RBS , Credit Agricole CIB , Societe Generale , TOTAL 1% 1,67,295 3,969 1% US Corporate Bonds Share JP Morgan , , Citi , Goldman Sachs , Morgan Stanley , Wells Fargo , Barclays , Deutsche Bank , Credit Suisse , HSBC , RBC Capital Markets , UBS , BNP Paribas , Mizuho Financial , Mitsubishi UFJ Financial , Credit Agricole CIB , US Bancorp , Societe Generale , RBS , SunTrust Robinson Humphrey , TOTAL 1% 1,277,19 2,133 1% US Agency Bonds Share Barclays , Wells Fargo , Nomura , JP Morgan , Morgan Stanley , Deutsche Bank , TD Securities , FTN Financial , Citi , , Jefferies , HSBC , Incapital , Stifel , Vining Sparks , Raymond James & Associates , Bank of New York Mellon , Daiwa Securities , SunTrust Robinson Humphrey , BNP Paribas , TOTAL 1% 342,983 5,233 1% US Dollar Foreign Issuer Bonds Share Citi , , JP Morgan , HSBC , Deutsche Bank , Barclays , Goldman Sachs , Morgan Stanley , Credit Suisse , UBS , BNP Paribas , RBC Capital Markets , TD Securities , Societe Generale , Standard Chartered Bank , Nomura , Credit Agricole CIB , Mizuho Financial , Wells Fargo , RBS , TOTAL 1% 779,678 1,657 1% Bloomberg Global Fixed Income 1st 3Q 215 5

8 US Investment Grade Corporate Bonds Share JP Morgan , , Citi , Goldman Sachs , Morgan Stanley , Wells Fargo , Barclays , Deutsche Bank , Credit Suisse , HSBC , UBS , RBC Capital Markets , Mizuho Financial , BNP Paribas , Mitsubishi UFJ Financial , US Bancorp , Societe Generale , Credit Agricole CIB , RBS , TD Securities , TOTAL 1% 1,24,874 1,574 1% US Dollar Preferreds Share JP Morgan , , Wells Fargo , Morgan Stanley , UBS Stifel RBC Capital Markets Citi Janney Montgomery Scott Inc Incapital Bank of New York Mellon BNP Paribas US Bancorp Barclays Deutsche Bank Credit Suisse Sandler O'Neill & Partners BB&T Raymond James & Associates MLV & Co TOTAL 1% 11, % US High Yield Corporate Bonds Share , Citi , JP Morgan , Goldman Sachs , Deutsche Bank , Morgan Stanley , Barclays , Credit Suisse , Wells Fargo , RBC Capital Markets , SunTrust Robinson Humphrey , Jefferies , BNP Paribas , UBS , Credit Agricole CIB , HSBC , Mitsubishi UFJ Financial , RBS , Scotiabank , BMO Capital Markets , TOTAL 1% 235, % Bloomberg Global Fixed Income 1st 3Q 215 6

9 Canadian Fixed Income Review 1st 3Q 215 credited Canadian Corporate Bonds volume increased 15.81% to CAD 79.3 Bln while deal count decreased 4.19% to 183 offerings year-on-year. Canadian Corporate Bonds - Bonus volume increased 15.81% year-on-year to CAD 79.3 Bln while the deal count decreased 4.19% to 183. Canadian Government Bonds volume decreased 3.% year-on-year to CAD 78.7 Bln over 244 deals. RBC Capital Markets ranked as the top Canadian Corporate Bonds underwriter for 1st 3Q 215 with 24.71% market share. The bank underwrote 91 deals over the period. Scotiabank and TD Securities ranked second and third with 19.24% and 16.91% market share, respectively. Canadian Corporate Domestic Bonds Volume (CAD Share RBC Capital Markets , Scotiabank , TD Securities , CIBC , BMO Capital Markets , National Bank Financial Inc , HSBC , Desjardins Capital Markets , , Laurentian Bank of Canada TOTAL 1% 79, % Canadian Government Bonds Volume (CAD Share National Bank Financial Inc , CIBC , TD Securities , RBC Capital Markets , BMO Capital Markets , Scotiabank , Desjardins Capital Markets Laurentian Bank of Canada TOTAL 1% 78, % Canadian Corporate Domestic Bonds: Quarterly Volume USD Bln Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Amount Canadian Corporate Domestic Bonds: Quarterly Volume 8% 7% 8% 6% 9% 63% Financials 63% Energy 8% Industrials 8% Consumer Discretionary 7% Utilities 6% Others 9% Canadian Corporate Domestic Bonds: Manager ings History Market Share (%) RBC Capital Markets Scotiabank TD Securities Q3 Q CIBC BMO Capital Markets National Bank Financial Inc Bloomberg Global Fixed Income 1st 3Q 215 7

10 Latin America Fixed Income Review 1st 3Q 215 credited Latin American Bonds volume decreased 4.47% to USD 84.5 Bln while deal count decreased 26.84% to 398 offerings year-on-year. Latin American Local Currency Bonds volume decreased 37.7% year-on-year to USD 27.6 Bln while the deal count decreased 24.8% to 464. Brazilian Domestic Bonds volume decreased 34.64% year-on-year to BRL 32.4 Bln over 128 deals. ranked as the top Latin American Bonds underwriter for 1st 3Q 215 with 12.64% market share. The bank underwrote 47 deals over the period. Citi and HSBC ranked second and third with 1.37% and 9.3% market share, respectively. Latin American Bonds Share , Citi , HSBC , JP Morgan , Morgan Stanley , Deutsche Bank , Banco Santander , Banco Bilbao Vizcaya Argentaria , Credit Suisse , Banco Itau BBA , TOTAL 1% 84, % Latin American Local Currency Bonds Share Banco Santander , Banco Itau BBA , Banco Bilbao Vizcaya Argentaria , Bradesco BBI SA , Citi , HSBC , Banco do Brasil SA , Actinver Casa de Bolsa SA de CV , JP Morgan , Scotiabank TOTAL 1% 27, % Market Share (%) USD Bln 5% 8% 5% % Latin American Bonds: Quarterly Volume Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Amount Q3 Q Latin American Bonds: Quarterly Volume 12% 18% 37% Government 37% Energy 18% Financials 15% Materials 8% Utilities 5% Industrials 5% Others 12% Latin American Bonds: Manager ings History Citi HSBC JP Morgan Morgan Stanley Deutsche Bank Bloomberg Global Fixed Income 1st 3Q 215 8

11 EMEA Fixed Income Review 1st 3Q 215 credited European Corporate & Financial Bonds volume decreased 2.87% to EUR 99. Bln while deal count decreased 19.92% to 3,832 offerings year-on-year. EMEA Corporate Investment Grade Bonds (inc EM) volume decreased 6.41% year-on-year to EUR 21.6 Bln while the deal count decreased 19.1% to 432. Western European Corporate High Yield Bonds volume decreased 27.2% year-on-year to EUR 61.5 Bln over 144 deals. Deutsche Bank ranked as the top European Corporate & Financial Bonds underwriter for 1st 3Q 215 with 6.9% market share. The bank underwrote 364 deals over the period. Credit Suisse and HSBC ranked second and third with 5.36% and 5.5% market share, respectively. EUR Bln European Corporate & Financial Bonds: Highlights of 1st 3Q 215 Top Underwriter Deutsche Bank Number of deals 364 Volume (EUR 55,345 Avg size (EUR 152. Market Summary Number of deals 3,832 Volume (EUR 99,2 Avg size (EUR Issuer European Corporate & Financial Bonds: Quarterly Volume Other High Yield Investment Grade Industry Volume (USD 3, 2,5 2, 1,5 1, 5 Date Shell International Finance BV Energy 3, 5/6/215 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA/Netherlands Financials 2,958 1/7/215 TOTAL SA Energy 2,843 2/19/215 TOTAL SA Energy 2,843 2/19/215 UBS AG/London Financials 2,817 5/7/215 UniCredit SpA Financials 2,799 2/27/215 Credit Suisse/New York NY Financials 2,75 4/24/215 Shell International Finance BV Energy 2,75 5/6/215 Credit Suisse AG/London Financials 2,742 3/25/215 Credit Suisse Group Funding Guernsey Ltd Financials 2,5 3/23/215 EUR Bln EMEA Leveraged Finance: Quarterly Volume 1 5 Q3 Q Q3 Q EMEA Sponsor-led Leveraged Loans EMEA Corporate High Yield Bonds (inc EM) Q3 Q European Corporate & Financial Bonds: Industry Breakdown Financials 69% Consumer Discretionary 9% Others 23% European Corporate & Financial Bonds: Industry Breakdown Basis points 9% 23% % Q3 Q Q3 Q High Yield Investment Grade Q3 Q Bloomberg Global Fixed Income 1st 3Q 215 Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q Q3 Q

12 European Bonds Volume (EUR Share HSBC , Barclays , Deutsche Bank , BNP Paribas , Credit Suisse , JP Morgan , Citi , Societe Generale , Credit Agricole CIB , UniCredit , Goldman Sachs , UBS , , Morgan Stanley , Natixis , RBS , Commerzbank , Nomura , Banco Santander , Landesbank Baden- Wuerttemberg , TOTAL 1% 1,294,472 5,13 1% Eastern European Bonds Share UniCredit , VTB Capital , Societe Generale , Sberbank CIB CJSC , Gazprombank , Citi , Erste Group Bank , HSBC , Barclays , Raiffeisen Bank International Group , Deutsche Bank , JP Morgan , BNP Paribas , KBC Group Otkritie Financial Corp JSC REGION Investment Co Commerzbank Goldman Sachs Vnesheconombank Intesa Sanpaolo TOTAL 1% 34, % Western European Bonds Volume (EUR Share HSBC , Barclays , Deutsche Bank , BNP Paribas , Credit Suisse , JP Morgan , Credit Agricole CIB , Societe Generale , Citi , UBS , Goldman Sachs , UniCredit , , Morgan Stanley , Natixis , RBS , Commerzbank , Nomura , Banco Santander , Landesbank Baden- Wuerttemberg , TOTAL 1% 1,255,387 4,734 1% Western European Corporate High Yield Bonds Volume (EUR Share Deutsche Bank , Goldman Sachs , JP Morgan , HSBC , Credit Suisse , BNP Paribas , Barclays , Morgan Stanley , Credit Agricole CIB , Citi , Nomura , Societe Generale , UniCredit , , RBS , ING Groep , Commerzbank , RBC Capital Markets , Mizuho Financial Banco Santander TOTAL 1% 61, % Bloomberg Global Fixed Income 1st 3Q 215 1

13 CEEMEA Bonds Share Citi , HSBC , JP Morgan , Barclays , Deutsche Bank , Societe Generale , BNP Paribas , UniCredit , VTB Capital , Morgan Stanley , Sberbank CIB CJSC , Goldman Sachs , National Bank of Abu Dhabi , Gazprombank , Standard Chartered Bank , Erste Group Bank , Bank CenterCredit , Eskom Holdings Ltd , FirstRand Ltd , Standard Bank of South Africa , TOTAL 1% 14, % African Bonds Share Barclays , Eskom Holdings Ltd , Standard Bank of South Africa , FirstRand Ltd , Nedbank Capital , Deutsche Bank , Cal Brokers Ltd , Citi , BNP Paribas , Morgan Stanley JP Morgan Natixis Investec Standard Chartered Bank Medinvest HSBC Lloyds Bank Commercial International Bank of Egypt Arab African International Bank TOTAL 1% 2, % MENA Bonds Share HSBC , Citi , JP Morgan , National Bank of Abu Dhabi , Morgan Stanley , Emirates NBD PJSC , Standard Chartered Bank , Riyad Bank , Societe Generale , Barclays BNP Paribas BLOM Bank SAL Natixis Samba Capital ING Groep Al Hilal Bank Bank Muscat Deutsche Bank Goldman Sachs Credit Agricole CIB TOTAL 1% 28, % Sub-Saharan African Bonds Share Eskom Holdings Ltd , Standard Bank of South Africa , FirstRand Ltd , Barclays , Nedbank Capital , Deutsche Bank , Cal Brokers Ltd , BNP Paribas Citi Investec Standard Chartered Bank Medinvest JP Morgan HSBC Lloyds Bank Morgan Stanley South African National Roads Agency Ltd RBC Capital Markets One Capital TOTAL 1% 16, % Bloomberg Global Fixed Income 1st 3Q

14 Euro Currency Bonds Volume (EUR Share HSBC , Deutsche Bank , Barclays , BNP Paribas , UniCredit , Credit Agricole CIB , Societe Generale , JP Morgan , Goldman Sachs , Citi , Natixis , Credit Suisse , , Morgan Stanley , Commerzbank , UBS , RBS , Landesbank Baden- Wuerttemberg , Banco Santander , Intesa Sanpaolo , TOTAL 1% 992,766 2,862 1% Sterling Bonds Volume (GBP Share HSBC , Barclays , RBS , RBC Capital Markets , Nomura , Deutsche Bank , Lloyds Bank , JP Morgan , Citi , Banco Santander , BNP Paribas , , Credit Suisse , UBS , Morgan Stanley , Goldman Sachs , TD Securities , Scotiabank , Commerzbank FMS Wertmanagement TOTAL 1% 73, % Sub-Saharan African Currency Bonds Share Eskom Holdings Ltd , Nedbank Capital , Standard Bank of South Africa , FirstRand Ltd , Barclays JP Morgan Investec RBC Capital Markets Daiwa Securities Danske Bank Societe Generale HSBC TD Securities South African National Roads Agency Ltd Tokai Tokyo Securities Co Ltd One Capital Macquarie Java Capital Transnet Ltd Deutsche Bank TOTAL 1% 1, % Swiss Franc Bonds Volume (CHF Share Credit Suisse , UBS , Schweizerische Kantonalbanken , Zuercher Kantonalbank , Raiffeisen Switzerland , Deutsche Bank , BNP Paribas , Basler Kantonalbank Goldman Sachs St Galler Kantonalbank Aargauische Kantonalbank Banque Cantonale de Fribourg HSBC Luzerner Kantonalbank JP Morgan Basellandchafliche Kantonalbank Thurgauer Kantonalbank Kantonalbank Schwyz PKO Bank Polski SA Cie Financiere Tradition SA TOTAL 1% 46, % Bloomberg Global Fixed Income 1st 3Q

15 Asia ex-japan Fixed Income Review 1st 3Q 215 credited Asia ex-japan G3 Currency Bonds volume decreased 5.2% to USD Bln while deal count decreased 11.% to 275 offerings year-on-year. Asia ex-japan G3 Investment Grade Bonds volume decreased 1.24% year-on-year to USD Bln while the deal count decreased 11.76% to 18. Asia ex-japan G3 Corporate High Yield Bonds volume decreased 28.12% year-on-year to USD 13.4 Bln over 32 deals. HSBC ranked as the top Asia ex-japan G3 Currency Bonds underwriter for 1st 3Q 215 with 11.37% market share. The bank underwrote 126 deals over the period. Citi and Deutsche Bank ranked second and third with 8.57% and 7.19% market share, respectively. Asia ex-japan G3 Currency Bonds: Highlights of 1st 3Q 215 Issuer Industry Date Sinopec Group Overseas Development 215 Ltd Energy 2,5 4/21/215 Bank of Communications Co Ltd Financials 2,45 7/22/215 Indonesia Government International Bond Government 2, 1/8/215 Indonesia Government International Bond Government 2, 1/8/215 Philippine Government International Bond Government 2, 1/6/215 China Construction Bank Corp Financials 2, 5/6/215 CNOOC Finance 215 USA LLC Energy 2, 4/28/215 Perusahaan Penerbit SBSN Indonesia III Government 2, 5/21/215 Industrial & Commercial Bank of China Ltd Financials 2, 9/14/215 China Cinda Finance 215 I Ltd Financials 1,7 4/16/215 Asia ex-japan G3 Currency Bonds: Largest s by ry of 1st 3Q 215 Issuer Date ry Sinopec Group Overseas Development 215 Ltd 2,5 4/21/215 China Hong Kong Sukuk 215 Ltd 1, 5/27/215 Hong Kong Reliance Industries Ltd 1, 1/21/215 India Indonesia Government International Bond 2, 1/8/215 Indonesia Petronas Capital Ltd 1,5 3/11/215 Malaysia Philippine Government International Bond 2, 1/6/215 Philippines Global Logistic Properties Ltd 1, 5/28/215 Singapore Export-Import Bank of Korea 1,25 1/12/215 South Korea Sri Lanka Government International Bond 65 5/28/215 Sri Lanka Formosa Group Cayman Ltd 1, 4/14/215 Taiwan Export Import Bank of Thailand 15 1/9/215 Thailand Asia ex-japan G3 Currency Bonds: Quarterly Volume USD Bln 7 5 Q3 Q Q3 Q Q3 Q Q3 Q Other High Yield Investment Grade Q3 Q Q3 Q Asia ex-japan G3 Currency Bonds: Industry Breakdown 1% 16% 16% 17% 41% Financials 41% Government 17% Energy 16% Industrials 1% Others 16% Asia ex-japan G3 Currency Bonds: Manager ings History Market Share (%) HSBC Citi Deutsche Bank Standard Chartered Bank JP Morgan Bank of China Bloomberg Global Fixed Income 1st 3Q

16 Asia ex-japan Issuer G3 Currency Bonds Share HSBC , Citi , Deutsche Bank , Standard Chartered Bank , JP Morgan , Bank of China , , Goldman Sachs , Morgan Stanley , Industrial & Comm Bank of China , BNP Paribas , DBS Group , UBS , Barclays , ANZ Banking Group , Credit Suisse , China Construction Bank , Bank of Communications , Societe Generale , Mizuho Financial , TOTAL 1% 142, % Asia ex-japan Bonds Share CITIC Securities Co Ltd , Industrial & Comm Bank of China , China Construction Bank , Bank of China , HSBC , Agricultural Bank of China Ltd , China Securities Co Ltd , China International Capital Corp , Guotai Junan Securities Co Ltd , Citi , Deutsche Bank , Standard Chartered Bank , Bank of Communications , China Development Bank , Industrial Bank Co Ltd , Morgan Stanley , JP Morgan , China Merchants Bank , Shanghai Pudong Development Group Financial , China Minsheng Banking Corp Ltd , TOTAL 1% 66,282 4,162 1% APAC ex-japan Issuer G3 Currency Bonds Share HSBC , Citi , JP Morgan , Deutsche Bank , Standard Chartered Bank , , Goldman Sachs , Bank of China , Morgan Stanley , UBS , BNP Paribas , Barclays , ANZ Banking Group , Industrial & Comm Bank of China , Credit Suisse , DBS Group , China Construction Bank , Societe Generale , Bank of Communications , RBC Capital Markets , TOTAL 1% 19, % APAC ex-japan Bonds Share CITIC Securities Co Ltd , Industrial & Comm Bank of China , HSBC , China Construction Bank , Bank of China , Citi , Agricultural Bank of China Ltd , JP Morgan , China Securities Co Ltd , Deutsche Bank , China International Capital Corp , ANZ Banking Group , Guotai Junan Securities Co Ltd , UBS , Standard Chartered Bank , Bank of Communications , China Development Bank , Morgan Stanley , Industrial Bank Co Ltd , Goldman Sachs , TOTAL 1% 758,572 4,488 1% Bloomberg Global Fixed Income 1st 3Q

17 Asia ex-japan Issuer G3 Investment Grade Bonds Share HSBC , Citi , Deutsche Bank , JP Morgan , Standard Chartered Bank , Bank of China , , Goldman Sachs , Morgan Stanley , Industrial & Comm Bank of China , Barclays , BNP Paribas , UBS , ANZ Banking Group , DBS Group , Credit Suisse , China Construction Bank , Societe Generale , CIMB , Agricultural Bank of China Ltd , TOTAL 1% 113, % ASEAN Local Currency Bonds Share CIMB , DBS Group , Oversea-Chinese Banking Corp , RHB , Maybank , HSBC , AmInvestment Bank Bhd , Standard Chartered Bank , Krung Thai Bank , Kasikornbank PCL , Siam Commercial Bank PCL , United Overseas Bank , Bank of Ayudhya PCL , Bangkok Bank PCL , Thanachart Capital PCL Asia Plus Securities Bank of Philippine Islands Mandiri Sekuritas PT Indo Premier Securities Kenanga Investment Bank Bhd TOTAL 1% 37, % Asia ex-japan Issuer G3 Corporate High Yield Bonds Share Standard Chartered Bank , Deutsche Bank , JP Morgan , HSBC , Credit Suisse UBS CITIC Securities Co Ltd Citi Goldman Sachs Bank of Communications BNP Paribas Morgan Stanley China Construction Bank China Merchants Securities DBS Group ING Groep Haitong Securities Co Ltd Bank of China Jefferies TOTAL 1% 13, % Australian/New Zealand International Bonds Share JP Morgan , Citi , HSBC , UBS , National Australia Bank Ltd , Deutsche Bank , RBC Capital Markets , , Goldman Sachs , Credit Suisse , RBS , Barclays , ANZ Banking Group , BNP Paribas , Westpac Banking , Commonwealth Bank Australia , Morgan Stanley , Macquarie Nomura Wells Fargo TOTAL 1% 54, % Bloomberg Global Fixed Income 1st 3Q

18 Australian Kangaroo Bonds Volume (AUD Share TD Securities , Deutsche Bank , Nomura , RBC Capital Markets , Commonwealth Bank Australia , ANZ Banking Group , JP Morgan , Citi , HSBC , Westpac Banking Goldman Sachs UBS National Australia Bank Ltd Daiwa Securities Natixis Scotiabank Emirates NBD PJSC Mizuho Financial Standard Chartered Bank Societe Generale TOTAL 1% 28, % Japanese Samurai Bonds (Fiscal Year) Volume (JPY Share Nomura , Morgan Stanley , Sumitomo Mitsui Financial , Mizuho Financial , Daiwa Securities , , Credit Agricole CIB , Credit Suisse , Barclays , Societe Generale , Natixis , HSBC , TOTAL 1% 1,187, % Korean Issuer International Bonds Share HSBC , Citi , , Barclays , Deutsche Bank , JP Morgan , Credit Agricole CIB Societe Generale ANZ Banking Group Goldman Sachs BNP Paribas Morgan Stanley Standard Chartered Bank Nomura Mizuho Financial RBS UBS Credit Suisse Daiwa Securities Commerzbank TOTAL 1% 18, % Japanese Yen Bonds Volume (JPY Share Morgan Stanley ,896, Sumitomo Mitsui Financial ,672, Nomura ,493, Mizuho Financial ,476, Daiwa Securities ,429, Goldman Sachs , , Mitsubishi UFJ Financial , Citi , Natixis , Credit Agricole CIB , JP Morgan , Tokai Tokyo Securities Co Ltd , HSBC , Credit Suisse , Shinkin Central Bank , Barclays , Societe Generale , BNP Paribas , Okasan Securities Group Inc , TOTAL 1% 9,555, % Bloomberg Global Fixed Income 1st 3Q

19 Hong Kong Dollar Bonds Volume (HKD Share HSBC , Standard Chartered Bank , Barclays , Oversea-Chinese Banking Corp , Bank of China , National Australia Bank Ltd , Citi , DBS Group , Societe Generale , ANZ Banking Group , Bank of Communications , Goldman Sachs , Credit Agricole CIB , Scotiabank , BNP Paribas , China Construction Bank , UBS , Commonwealth Bank Australia , Mizuho Financial , Natixis , TOTAL 1% 142, % Uridashi Bonds (Fiscal Year) (Manager) Share Mizuho Financial , Sumitomo Mitsui Financial , Mitsubishi UFJ Financial , Daiwa Securities Nomura Morgan Stanley BNP Paribas Credit Suisse HSBC Tokai Tokyo Securities Co Ltd Credit Agricole CIB Deutsche Bank JP Morgan Societe Generale Citi Barclays UBS Shinsei Bank Ltd TOTAL 1% 9, % Offshore CNY Bonds Volume (CNY Share HSBC , Standard Chartered Bank , BNP Paribas , Credit Agricole CIB , Citi , Bank of China , DBS Group , Deutsche Bank , Barclays , Scotiabank , Societe Generale , KGI Securities Co Ltd , China Construction Bank , Mega Financial Holding Co Ltd , Bank of Communications , ANZ Banking Group , Industrial & Comm Bank of China , E.Sun Financial Holding Co Ltd , Agricultural Bank of China Ltd , Sinopac Securities Corp , TOTAL 1% 211, % Uridashi Bonds (Fiscal Year) (Uridashi Agent) Share Morgan Stanley , Mizuho Financial , Daiwa Securities , Sumitomo Mitsui Financial , Tokai Tokyo Securities Co Ltd , Nomura Okasan Securities Group Inc SBI Holdings Inc/Japan Iwai Cosmo Holdings Inc Aozora Bank Ltd Hachijuni Bank Ltd Chugoku Bank Ltd Shinsei Bank Ltd Imamura Securities Co Naito Securities Co Ltd Monex Inc Joyo Bank Ltd Societe Generale Kagawa Securities Co Ltd ANDO Securities Co Ltd TOTAL 1% 12, % Bloomberg Global Fixed Income 1st 3Q

20 Singapore Dollar Bonds Volume (SGD Share DBS Group , Oversea-Chinese Banking Corp , Standard Chartered Bank , HSBC , United Overseas Bank ANZ Banking Group CIMB Maybank Credit Suisse Bank of China Deutsche Bank Barclays Westpac Banking UBS Industrial & Comm Bank of China Citi RHB RBS Goldman Sachs TOTAL 1% 17, % Bloomberg Global Fixed Income 1st 3Q