REUTERS / Suzanne Plunkett GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS

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1 REUTERS / Suzanne Plunkett GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS First Half

2 First Half MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Loans Global Deals Intelligence Leading Underwriters for Table of Contents EMEA Mandated Lead Arrangers (R) 7 European Leveraged Loans (P) Global Loans s (R) EMEA Sponsored Loans (P) Global Debt & Syndicated Loans (DL) Global Loans Mandated Arrangers (R) Top Global Syndicated Loans Global Scorecard Global Loans Rankings Last Ten Years Americas Syndicated Loans Americas Deals Intelligence Top Americas Syndicated Loans Asia Pacific (Excl. Japan) Syndicated Loans Asia & Australia Deals Intelligence Top Asia Syndicated Loans Asia Loans Asian Currency (Si) Asia Loans s (Sc) Asia Loans Mandated Arrangers (Sb) Australia Loans s (S7) Top Australia Syndicated Loans Americas Loans s (R7) Australia Loans Mandated Arrangers (Sa) Americas Loans Mandated Arrangers (Rc) US Loans s (R) North America Loans s (R) US Leveraged Loans s (Ra) US Investment Grade Loans s (Rb) Latin America Loans Mandated Lead Arrangers (R) EMEA Syndicated Loans EMEA Deals Intelligence 7 Top EMEA Syndicated Loans 7 EMEA s (R7) 7 Japan Syndicated Loans Japan Deals Intelligence Top Japan Syndicated Loans Japan Loans s (Sb) Japan Loans Mandated Arrangers (Sa) Ranking Criteria Summary Syndicated Loans Criteria Summary Regional Contacts Thomson Reuters Solutions for the Deal Making Community

3 First Half MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Lending Totals US$. trillion, up % from H I US Loans Account for %; Europe Lending Up % I JP Morgan Tops Rankings Global Deals Intelligence GLOBAL SYNDICATED LENDING INCREASE % FROM Global syndicated lending during the first half of reached US$. trillion, an % increase compared to the first half of and the best opening period for lending since 7. Lending activity during the second quarter saw a % increase from the first quarter of this year. Just over,7 transactions closed during the first half of, an increase of % compared to the first half of. WALMART, MEDTRONIC TOP FIRST HALF LOANS WalMart Stores' US$7. billion financing package to refinance existing debt topped the list of syndicated loans this year, followed by Medtronic's $US. billion loan to finance the US$7. billion purchase of Ireland's Covidien PLC, which was announced in June. US LENDING ACCOUNTS FOR % OF ACTIVITY Americas loans accounted for % of global loan volume during the first half of, as lending in the region increased by % from the same period last year. Within the Americas, loan volume in the totaled US$. trillion, up % compared to the same period last year and representing % of global volume. Europe accounted for % of global volumes as lending increased by % compared to first half. Asia Pacific fundraising saw a yearoveryear increase of 7%, while Japanese lending fell % compared to the first half of. Global Syndicated Loans Volume $. Proceeds (US$t) Q Volume (US$t) Q Volume (US$t) Q Volume (US$t) Q Volume (US$t) $. $. $. $.,,,,,, ENERGY & POWER, INDUSTRIALS & FINANCIALS LEAD LENDING Borrowing in the energy & power sector totaled US$7. billion during the first half of, accounting for 7% of global loan activity, down from % of global lending during first half. Healthcare and consumer staples lead all sectors for syndicated loans with yearoveryear gains of % and 7%, respectively. Energy & power, industrials and financials together accounted for % of syndicated loan volume during first half compared to % a year ago. $. Global Loans s (R) JP MORGAN TOPS BOOKRUNNER RANKINGS JP Morgan maintained the top ranking for global bookrunners, by proceeds, with US$. billion from 777 transactions during the first half of, a decrease of. market share points compared to first half. followed, with US$. billion from 7 transactions, or.% of overall loan proceeds during the first half of. SYNDICATED LENDING FEES UP % According to Thomson Reuters/Freeman Consulting, bookrunning fees from global syndicated loans totaled US$. billion during the first half of, an increase of % from this time last year. Fees from leveraged lending increased % compared to first half and accounted for 7% of all lending fees during the first half of. Leading Underwriters During the Second Quarter Market Sector Global Loans (R) Americas Loans (R7) North American Loans (R) US Loans (R) US Leveraged Loans (Ra) US Investment Grade Loans (Rb) Latin America Loans (R) Latin America Loans (R) EMEA Loans (R7) EMEA Leveraged Loans (P) AsiaPacific ex. Japan ex. Australia (Sb) AsiaPacific ex. Japan ex. Australia (Sc) Japan Loans (Sa) Japan Loans (Sb) Australian Loans (S7) Current Qtr Market Share Mkt. Share Chg. No. Manager (%) from Last Qtr (%) JP Morgan. 7. Mitsubishi UFJ Financial Group State Bank of India 7.. State Bank of India ANZ Banking Group.. Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. JP Morgan, , Citi, Wells Fargo & Co, Mitsubishi UFJ Financial Group 7, , Barclays 7, , , Credit Suisse, RBC Capital Markets 7, , HSBC Holdings PLC, Sumitomo Mitsui Finl Grp Inc, Goldman Sachs & Co, Morgan Stanley, Credit Agricole CIB 7, US Bancorp, State Bank of India, Scotiabank, BMO Capital Markets 7, CIBC World Markets Inc, ING, TD Securities Inc, PNC Financial Services Group, ,7,. 7..7, Total,7,..,7,.7. Industry % Change from Same Period Last Year Industry % Change from Last Quarter.%.%.%.%.%.%

4 First Half Syndicated Loans Managing Underwriters Global Global Debt & Syndicated Loans (DL) Scorecard: Global Syndicated Loans Proceeds per Mandated Arranger US$m) # of Deals per MA Imputed Fees (US$m) // // Mandated Arrangers Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. JP Morgan 7,7...7., Region/Nation Proceeds (US$m) 7, ,. 7.. Global,,7.,7 Citi,7....,... Americas,,., 7,7....7,... North America,,.,7 Barclays 7,....,7.7.. of America,,7.7, HSBC Holdings PLC, Canada,. Goldman Sachs & Co 7 7, Central America,. Morgan Stanley, ,... Mexico,77. Credit Suisse 7, South America 7,7. Wells Fargo & Co, Brazil,. Top Ten Total,,7...,7... Peru,. Industry Total,,.7.,7,.. Europe,. Western Europe,. Industry % Change from Same Period Last Year.%.%.7% United Kingdom,. Industry % Change from Last Quarter.% 7.% 7.% France,. Germany,. 7 Switzerland,. Netherlands,7. Global Loans Mandated Arrangers (R) Spain,. Norway 7,.7 Proceeds per Mandated Arranger US$m) # of Deals per MA mputed Bookrunning Fees (US$m Sweden,. Denmark,.7 Mandated Arrangers Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. Republic of Ireland,7.7 JP Morgan, Belgium,7., Eastern Europe,. Citi, Turkey,. Wells Fargo & Co 7, Russian Federation 7,7. Mitsubishi UFJ Financial Group 7, Poland,7. Barclays 7 7, Slovak Republic,7. 7 7, Africa/Middle East/Central Asia 7,. HSBC Holdings PLC, Middle East,7., United Arab Emirates 7,.7 Sumitomo Mitsui Finl Grp Inc, Qatar,., SubSaharan Africa,., South Africa,. Credit Suisse, Ghana,. RBC Capital Markets, Kenya. Goldman Sachs & Co, Central Asia. Credit Agricole CIB, AsiaPacific (ex Central Asia),. 7 Morgan Stanley 7, North Asia,. US Bancorp 7, Hong Kong,. BMO Capital Markets, China,. 7 ING 7, Taiwan,77. 7 Scotiabank, South Korea,7.7 State Bank of India, South Asia,. Societe Generale, India,. UBS, Southeast Asia,. Commerzbank AG, Singapore,.7,, ,..7.7 Malaysia,7. Industry Total,,7..,7,.. Indonesia 7,. Thailand,. Industry % Change from Same Period Last Year 7.%.%.% Vietnam 7. Industry % Change from Last Quarter.% 7.%.% Australasia,7. Australia,. New Zealand,. Japan,. Top Global Syndicated Loans Closing Date Borrower Target Market Package Amt (US$m) Primary UOP // /7/ // WalMart Stores Inc Medtronic Inc Depository Trust Co 7,.,.,. Acquisition Fin. // Glencore Xstrata PLC Switzerland,. // Bouygues SA France,. Acquisition Fin. // Bayer AG Germany,. Acquisition Fin. // Ford Motor Co,. /7/ Zimmer Holdings Inc,. Acquisition Fin. // // Safeway Inc ConocoPhillips Co,7. 7,. Leveraged Buyout // // Proceeds (US$m),,7.,,,.,,,.,,,.7,,.,. 7,.,.,..,.7,.7 7,.,.,.,.,.,7.7 7,7.,.,7.,7.,.,77.,.,7.,7.7 7,7.,.,.,.,.,. 7.,. 7 7,.,7.7,7.,.,. 7,.,.,.,.,7.,. 7,.,.,77. 7,.,7.,7. * The Global Scorecard comprises deal volume and counts from club and bookrun deals, mirroring the mandated arranger rankings. % Chge in Proceeds

5 First Half Syndicated Loans Managing Underwriters Global Loans Ranking Last Ten Years* JP Morgan Citi Wells Fargo & Co Mitsubishi UFJ Financial Group Rank 7 7 Barclays Credit Suisse 7 *League Table positions reflect consolidation within the banking sector. Rankings shown are as of the current quarter end in each calendar year.

6 Americas Proceeds Reach US$. Trillion US Leveraged Lending Down % Latin America Lending Up % First Half Syndicated Loans Managing Underwriters Americas Americas Deals Intelligence Americas Loans s (R7) Overall Syndicated lending in the Americas during the first half of increased.% from the same period in, Proceeds per (US$m) # of Deals per Imputed Fees (US$m) with proceeds reaching US$. trillion from, transactions. Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan, Leveraged lending in the decreased from the first half of, totaling US$. million on,7 deals, 7, representing an.% decrease in proceeds. Wells Fargo & Co 7, Citi, Loans for General Corporate Purposes led the market for the first half of, surpassing Refinancing, with proceeds Barclays, , reaching over US$. billion and accounting for % of the market. Credit Suisse 7 7 7, RBC Capital Markets, Goldman Sachs & Co, Lending in Latin America increased markedly compared with the same period last year, up.% with total proceeds Mitsubishi UFJ Financial Group, of US$ billion. Morgan Stanley, US Bancorp, Imputed bookrunning fees for the Americas yielded a.% higher total in the first half of compared to the same, , period last year, with a total of US$7. billion, according to estimates from Thomson Reuters/Freeman Consulting. HSBC Holdings PLC, Fees paid to s for U.S. leveraged loans increased.% compared to the same period last year, to a total Scotiabank, of over US$. billion. CIBC World Markets Inc 7, BMO Capital Markets, TD Securities Inc, PNC Financial Services Group, UBS 7, Top Americas Syndicated Loans SunTrust Banks, Closing Date Borrower Target Market Package Amt (US$m) Primary UOP General Electric Co, // WalMart Stores Inc 7,. KeyBanc Capital Markets Inc, /7/ Medtronic Inc,. Acquisition Fin. National Bank of Canada Fin'l 7, // Depository Trust Co,.,,.. 7.,. 7.. // Ford Motor Co,. Total,,7.7.,7 7 7,.. /7/ Zimmer Holdings Inc,. Acquisition Fin. // Safeway Inc,7. Leveraged Buyout Industry % Change over Same Period Last Year.% 7.%.% // ConocoPhillips Co 7,. Industry % Change over Last Quarter.%.%.% // Energy Future Holdings Corp 7,. Debtor In Possesion /7/ Exelon Corp 7,. Acquisition Fin. /7/ American Honda Finance 7,. Americas Loans by Industry (Proceeds US$m) US Leveraged Volume $,7. % $,.7 % $7,7. % $,. % $7,.7 % $7,7. % $7,. % $,. % $,. % $7,.7 7% $,. % $,7. 7% $7,.7 % Proceeds (US$b) $, $, $, $ $ $,,,,77,7,7,,,,,,,,, Energy and Power Financials Industrials Healthcare Retail Materials High Technology Real Estate Consumer Staples Consumer Products and Services Media and Entertainment Telecommunications Government and Agencies $ $ 7 Q Volume (US$b) Q Volume (US$b) Q Volume (US$b) Q Volume (US$b)

7 First Half Syndicated Loans Managing Underwriters Americas Americas Loans Mandated Arrangers (Rc) North America Loans s (R) Proceeds per Mandated Arranger (US$m) # of Deals per MA Imputed Fees (US$m) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch., JP Morgan 7, JP Morgan 7, , Wells Fargo & Co Citi,7., Wells Fargo & Co Citi 7,., Barclays,7., Barclays,., RBC Capital Markets 7, Credit Suisse 7 7 7, Credit Suisse 7, RBC Capital Markets, Mitsubishi UFJ Financial Group, Goldman Sachs & Co, US Bancorp, Morgan Stanley, Goldman Sachs & Co, Mitsubishi UFJ Financial Group, , US Bancorp, Morgan Stanley, , BMO Capital Markets, , , CIBC World Markets Inc, HSBC Holdings PLC, Scotiabank, Scotiabank 7, BMO Capital Markets 7, PNC Financial Services Group, HSBC Holdings PLC, CIBC World Markets Inc, TD Securities Inc, TD Securities Inc 7, PNC Financial Services Group, UBS, UBS 7, , SunTrust Banks, SunTrust Banks, General Electric Co, National Bank of Canada Fin'l, KeyBanc Capital Markets Inc, KeyBanc Capital Markets Inc, National Bank of Canada Fin'l 7, ,,.. 7.,. 7..,7,.. 7.,. 7.. Industry Total,,.., 7,77.. Total,,..,77 7,.. Industry % Change over Same Period Last Year.%.% Industry % Change over Last Quarter.%.%.%.% Industry % Change over Same Period Last Year.7%.%.% Industry % Change over Last Quarter.%.%.7% US Loans s (R) US Leveraged Loans s (Ra) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan 7, , Wells Fargo & Co, Citi, Barclays, , Credit Suisse 7 7, Goldman Sachs & Co, RBC Capital Markets, Morgan Stanley, US Bancorp, Mitsubishi UFJ Financial Group, , , PNC Financial Services Group, HSBC Holdings PLC, UBS 7, BMO Capital Markets, SunTrust Banks KeyBanc Capital Markets Inc 7,7., General Electric Co, Jefferies LLC, , Scotiabank, Credit Agricole CIB, ,..7., Total,,.7., 7,.. Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan 7, , Wells Fargo & Co, , Barclays 7, Credit Suisse, Citi 7, RBC Capital Markets, Goldman Sachs & Co, Morgan Stanley, US Bancorp, UBS, , General Electric Co, BMO Capital Markets 7, Jefferies LLC 7 7, SunTrust Banks 7 7, HSBC Holdings PLC 7, PNC Financial Services Group, , KeyBanc Capital Markets Inc, Mitsubishi UFJ Financial Group, Fifth Third Bancorp, Macquarie Group, Madison Capital Funding LLC, ,...,. 7.. Total,7..,7 7,.. Industry % Change over Same Period Last Year.%.%.% Industry % Change over Same Period Last Year.%.%.% Industry % Change over Last Quarter.% 7.%.% Industry % Change over Last Quarter %.% %.%.7%

8 First Half Syndicated Loans Managing Underwriters Americas US Investment Grade Loans s (Rb) Top Americas Loans Use of Proceeds (US$m) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. JP Morgan,., Citi, Wells Fargo & Co, Mitsubishi UFJ Financial Group 7, Barclays 7,7., , Credit Suisse, , US Bancorp, HSBC Holdings PLC, PNC Financial Services Group, Goldman Sachs & Co, RBC Capital Markets 7, Morgan Stanley, Scotiabank 7, Bank of China Ltd, , To Be Announced Credit Agricole CIB,., Sumitomo Mitsui Finl Grp Inc, KeyBanc Capital Markets Inc, BMO Capital Markets, CoBank ACB, TopTwentyFiveTotal Twenty Total 7, Total,.... Industry % Change over Same Period Last Year.%.%.% Industry % Change over Last Quarter.%.%.% Latin America Loans Mandated Lead Arrangers (R) Proceeds per Mandated Arranger (US$m) # of Deals per MA Imputed Fees (US$m) Mandated Arranger Rank Rank Proceeds Share% Share Ch. Deals Share% # of Deals Fees Share% Share Ch. *, Citi, HSBC Holdings PLC, JP Morgan, Mitsubishi UFJ Financial Group, , , Sumitomo Mitsui Finl Grp Inc Credit Agricole CIB Itau Unibanco BBVA Standard Chartered PLC Santander ING Natixis Scotiabank Banco do Brasil SA 7 * Societe Generale * Industrial & Comm Bank China Banco Latin Americano Export * Wells Fargo & Co * Banobras SNC * Nacional Financiera SNC * Rabobank NV , Industry Total,.... Industry % Change over Same Period Last Year Industry % Change over Last Quarter *tie.%.% 7.%.7%.7%.% $,7. % $,. $,7.7 $,. $,. % % % % Americas Yield Type Proceeds (US$b) $,. % $,. % $,. % $7,. % $,. % General Corporate Purposes Refinance Bank Debt Acquisition Financing Refinancing Leveraged Buyout Working Capital Project Finance Recapitalization Capital Expenditures 7 Americas Imputed Fees Total Imputed Fees (US$b) 7 Property Acquisition Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Undisclosed (US$b) Highly Leveraged (US$b) Leveraged (US$b) Near Invst Grade (US$b) Investment Grade (US$b),,,,7,,,,, 7 Total Imputed Fees (US$b) Number of Deals First Half,,,,

9 ` First Half Syndicated Loans Managing Underwriters Europe, Middle East & Africa EMEA Borrowing Up By % in H Finland and Norway Targeted Loans Up Significantly Top EMEA Fee Earner EMEA Deals Intelligence EMEA Use of Proceeds (US$b) EMEA syndicated lending for the first half of reached US$. billion, up.% from the same period last year. Borrowers from the Industrials sector were the main drivers of EMEA activity, accounting for % of volume, with borrowers from Materials and Energy & Power receiving % and % of loans proceeds, respectively. Refinancing of Bank Debt made up % of first half of loan volume (by value), followed by General Corporate Purposes and Acquisition Financing, accounting for % and %, respectively. The loan target nations notable for a rise in year on year activity included Finland (up 7.%), Norway (up.%), Denmark (up.%) and Germany (up.%). Target nations in decline included Czech Republic (down.%), Russian Federation (down.%) and Saudi Arabia (down.%). According to Thomson Reuters/Freeman Consulting, arranging fees increased 7.%. The leading fee earners in the EMEA region were, with US$. million. $. % $. % $. % $. % $. % Refinance Bank Debt General Corporate Purposes Acquisition Financing Refinancing Project Finance Top EMEA Syndicated Loans (US$m) $. % Leveraged Buyout Glencore Xstrata PLC $,. $. % Export/Import Finance Bouygues SA Bayer AG $,. $,. Finance Linked Trade Volkswagen AG $,7. Ship Financing GDF Suez SA $,.7 Numericable Sarl $,. Others EMEA s (R7) EMEA Mandated Lead Arrangers (R) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Proceeds per MLA (US$m) # of Deals per MLA Imputed Fees (US$m) Market # of Market Change Manager Market Market Market # of Market Change Manager Market Market Market in Market in Rank Rank Share % Share Ch. Deals # of Deals Fees Share % Share % Share Ch. Mandated Arranger Rank Rank Proceeds Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch., HSBC Holdings PLC, Credit Agricole CIB, , HSBC Holdings PLC, , , Credit Agricole CIB, UniCredit, Barclays, Commerzbank AG, Societe Generale, , , ING 7, ING, Barclays, Commerzbank AG, Societe Generale, Citi, Citi, UniCredit, , JP Morgan, JP Morgan, Santander, Mitsubishi UFJ Financial Group, Lloyds Bank, , Mitsubishi UFJ Financial Group, Santander, , Nordea 7 7, Natixis 7, Natixis 7, Sumitomo Mitsui Finl Grp Inc 7, Lloyds Bank 7 7, , Goldman Sachs & Co, BBVA, SEB, Nordea, Credit Suisse, SEB 7, Standard Chartered PLC, Goldman Sachs & Co, BBVA, DNB ASA, DNB ASA, Danske Bank, ,. 7..7,... 7,...,..7. Total,7.. 7,.. Industry Total,.. 7,7.. Industry % Change from Same Period Last Year.%.%.% Industry % Change from Last Quarter.% 7.%.% Industry % Change from Same Period Last Year Industry % Change from Last Quarter.%.%.% 7.%.%.% Club deal volume is not included in Thomson Reuters' League Tables; however, Mandated Lead Arrangers volumes include both bookrun and club transactions. 7

10 First Half Syndicated Loans Managing Underwriters Europe, Middle East & Africa European Leveraged Loans (P) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch., Credit Agricole CIB 7, , Goldman Sachs & Co, JP Morgan, HSBC Holdings PLC 7, , Barclays, ING, Nordea, UniCredit, Societe Generale 7, Citi, Nomura, Morgan Stanley, Credit Suisse, Santander 7, Scotiabank, Natixis, Standard Chartered PLC, DNB ASA, , SEB, Commerzbank AG, Lloyds Bank, , Total,7.... Industry % Change from Same Period Last Year.%.%.% Industry % Change from Last Quarter.7%.%.% EMEA Sponsored Loans (P) Proceeds per (US$m) # of Deals per Rank Rank Proceeds Share % Share Ch. Deals Share % # of Deals Fees Share % Share Ch. Goldman Sachs & Co, , , JP Morgan, Credit Agricole CIB, Nomura, Nordea 7, HSBC Holdings PLC 7, Morgan Stanley 7, Credit Suisse, , UniCredit, Barclays, Societe Generale Natixis ING Lloyds Bank UBS Danske Bank DNB ASA Citi * Bank of Ireland Nykredit A/S , Total,.... Industry % Change from Same Period Last Year.%.%.% Industry % Change from Last Quarter.%.%.% Imputed Fees (US$m) EMEA Quarterly Syndicated Loan Volume Proceeds (US$m) $, $, $, $, $, $, $, $ EMEA Proceeds (US$m) Number of deals 7 7 EMEA Syndicated Loans by Industry (US$b) 7 7 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Industrials EMEA Imputed Fees Jan Jun Total Imputed Fees (US$m) $, $, $, $, $, $ $. % $.7 % $. % $. % $. $. $7. % % % $. %, 7 $. % $. % $. % Materials Energy and Power Financials Telecommunications Consumer Staples Media and Entertainment Retail Total Imputed Fees (US$m) Number of Deals Consumer Products and Services Real Estate Healthcare High Technology

11 Asian Refinancing Highest First Half l Hong Kong Volume Doubles l Australian Loans Up % First Half Syndicated Loans Managing Underwriters Asia (exjapan) Asia & Australia Deals Intelligence Asia Loans s (All Currencies) (Sc) Up.7% from the previous period last year, Asian syndicated lending in the first half of reached US$.7 billion from 7 deals. Refinancing totaled US$. billion from transactions, growing.% from the comparable period last year, to post the highest first half volume on record. Hong Kong remained the most active market, with US$. billion (up.%) the highest first half volume of all time. HKT Trust & HKT Ltd's US$. billion bridge loan the largest deal completed in the second quarter. The club loan, jointly mandated to Standard Chartered and HSBC, was to be used to fund the acquisition of the entire share capital in CSL World Mobility Ltd. Australian syndicated loan grew % in first six months of, with total deals closed amounting to US$. billion from transactions. With a combined total of US$. billion, Refinancing and Refinancing Bank Debt propelled the market and accounted for.% of total activity. The US$7. billion project finance loan of Roy Hill Hldg Pty Ltd was the largest deal closed for the period. According to Thomson Reuters/Freeman Consulting, estimated fees for Asian syndicated deals totaled US$. million in the first half of, down.% from the same period last year. In Australia, estimated fees were US$. million, down.% from the first half of. Top Asia Syndicated Loans (Ex Japan, Ex Australia) SapuraKencana TMC Sdn Bhd OverseaChinese Bkg Corp Ltd HongKong Electric Co Ltd Venetian Macau US Finance Co CP ALL PCL ABG Shipyard Ltd Wii Pte Ltd HKT Trust & HKT Ltd Aircel Ltd $,. $,7. $,. $,. $,.7 Asia Loans s (US$, EURO, JPY, A$, HK$ & S$) (Si) $,. $,. $,77. $,. Proceeds per (US$m) # of Deals per Arranger Imputed Fees (US$m) Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. State Bank of India, Standard Chartered PLC, HSBC Holdings PLC, Mitsubishi UFJ Financial Group, DBS Group Holdings, , ANZ Banking Group 7, Sumitomo Mitsui Finl Grp Inc, , United Overseas Bank Ltd, , , Bank of China Ltd, OverseaChinese Banking, Credit Agricole CIB, Industrial & Comm Bank China, Credit Suisse 7, Fubon Financial Holding Co Ltd Taishin International Bank Malayan Banking Bhd CTBC Financial Holding Co Ltd Top Twenty Total, Total, Industry % Change from Same Period Last Year.%.%.% Industry % Change from Last Quarter.%.%.% Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. State Bank of India, Bank of China Ltd, Industrial & Comm Bank China, China Development Bank, Standard Chartered PLC, HSBC Holdings PLC, Korea Development Bank 7, , Mitsubishi UFJ Financial Group 7, DBS Group Holdings, Siam Commercial Bank PLC, ANZ Banking Group, Axis Bank Ltd, Sumitomo Mitsui Finl Grp Inc, ICICI Bank Ltd, , Agricultural Bank of China 7, China Construction Bank, United Overseas Bank Ltd, , , Taiwan Cooperative Bank, OverseaChinese Banking, Credit Agricole CIB 7, Bank of Taiwan, , Total,.... Industry % Change from Same Period Last Year.% Industry % Change from Last Quarter.7% Asia Loans Mandated Arrangers (All Currencies) (Sb).%.%.%.% Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Mandated Arranger Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. State Bank of India, Bank of China Ltd, HSBC Holdings PLC, Industrial & Comm Bank China, Standard Chartered PLC 7, China Development Bank 7, Sumitomo Mitsui Finl Grp Inc 7, DBS Group Holdings, Mitsubishi UFJ Financial Group, ANZ Banking Group 7, , China Construction Bank, United Overseas Bank Ltd 7, OverseaChinese Banking, , , Korea Development Bank 7, Agricultural Bank of China, Credit Agricole CIB, Axis Bank Ltd, ICICI Bank Ltd, Malayan Banking Bhd, , JP Morgan, Citi, , Industry Total, Industry % Change from Same Period Last Year.7%.7%.% Industry % Change from Last Quarter.%.%.%

12 Australia Loans s (All Currencies) (S7) First Half Syndicated Loans Managing Underwriters Asia (exjapan) & Australia Australia Loans Mandated Arrangers (All Currencies) (Sa) Proceeds per (US$m) # of Deals per Imputed Fees (US$m) Proceeds per Mandated Arranger (US$m) # of Deals per Arranger Imputed Fees (US$m) Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. Mandated Arranger Rank Rank ProceedsShare % Share Ch. DealsShare % # of Deals FeesShare % Share Ch. ANZ Banking Group, ANZ Banking Group, National Australia Bank, National Australia Bank 7, Westpac Banking, Commonwealth Bank of Australia, Commonwealth Bank of Australia, Westpac Banking, HSBC Holdings PLC Mitsubishi UFJ Financial Group, Sumitomo Mitsui Finl Grp Inc, HSBC Holdings PLC 7, Sumitomo Mitsui Finl Grp Inc Mitsubishi UFJ Financial Group * Citi Top Ten Total, Top Ten Total, Total, Industry Total,.... Industry % Change from Same Period Last Year.%.7%.% Industry % Change from Last Quarter.% 7.%.% *tie Industry % Change from Same Period Last Year.% Industry % Change from Last Quarter.% 7.%.%.%.% Top Australia Syndicated Loans Asian Loans by Maturity Date Roy Hill Holdings Pty Ltd CNOOC Curtis Funding No $,. $7,. Proceeds (US$b) ISPT Pty Ltd Santos Finance Newcastle Coal Infr Grp APT Pipelines Ltd $,. $,. $,. $,7. Proceeds (US$b) Asciano Finance Ltd $,. Sonic Healthcare Ltd Sydney Airport Fin Co Pty Ltd $,. $,. $. $. $. $. $. $7. 7 Australian Loans Proceeds by Industry (US$m) Asian Loans by Currency (%) First Half Financials $7,7. 7% $,. % $7,. % $,. % $,.7 $,7. % % $,.7 % $,. % $,7. % Industrials Materials Energy and Power Real Estate Media and Entertainment Consumer Products and Services Healthcare Consumer Staples.%.%.%.%.%.%.%.%.%.% High Technology Telecommunications Retail.%.%.%.%.% 77.% 7.%.%.%.% 7 Local Currency G

13 Japanese Syndicated Lending Down % Industrials Account for 7% of Borrowing Proceeds for Working Capital Drive Market First Half Syndicated Loans Managing Underwriters Japan Japan Deals Intelligence Japan Loans s (Sb) Japanese syndicated lending for the first half of recorded a total of US$. billion in proceeds from deals, down.% Proceeds per (US$m) # of Deals per from the same period last year. Market Market # of Market Change in Rank Rank ProceedsShare % Share Ch. Deals Sh % # of Deals Borrowings in the Industrials sector totaled US$ billion from deals, accounting for 7.% of the Japanese loan activity and a, Sumitomo Mitsui Finl Grp Inc, % decline from the US$. billion in proceeds recorded during the same period last year. The largest Industrial sector deal was Mitsubishi UFJ Financial Group, the US$. billion Mitsubishi Heavy Industries transaction. Development Bank of Japan Inc, Citi,.... Working Capital remained the primary driver for Japanese syndicated loans activity despite a % decline from the same period in Sumitomo Mitsui Trust Holdings,.... Resona Holdings Inc 7 7,...., totaling US$. billion in the first half of and representing % of the total Japanese loan activity. Bank of Yokohama,.... Credit Agricole CIB JX Holdings US$. billion deal was the largest syndicated loan deal during the first six months of, driving the Energy & Power 77 Bank Ltd.... sector to second place, with total proceeds worth US$7. billion from transactions. Goldman Sachs & Co Shinkin Central Bank.... NishiNippon City Bank Ltd.... Top Ten Deals Jan June.... Closing Date Borrower Package Amt (US$m) Primary UOP Shinsei Bank.... // JX Holdings Inc,. Working Capital Aozora Bank Ltd /7/ Itochu Corp,. Working Capital Shiga Bank Ltd.... // // Sumitomo Corp Marubeni Corp,.,. Working Capital Working Capital Shizuoka Bank Ltd Iyo Bank Ltd * /7/ NEC Corp,. Working Capital Fukuoka Financial Group Inc * // Mitsubishi Heavy Industries,. Working Capital Tokyo Star Bank.... // Yugen Kaisha Tokyo Prime Stage,. Refinancing Chugoku Bank Ltd.... // Toshiba Corp,7. Refinancing Hiroshima Bank Ltd.... // Showa Shell Sekiyu KK,7. Oper Fund / Cash Res Shoko Chukin Bank.... // Daikin Industries Ltd,. Working Capital,... Total,77.. Proceeds (US$b) Overall Japan Loans Volume $ $ $ $ $,,,,, Q Proceeds (US$b) Q Proceeds (US$b) Q Proceeds (US$b) Q Proceeds (US$b),,,,7,,,, Industry % Change from Same Period Last Year 7.%.7% Industry % Change from Last Quarter.% 7.% Japan Loans Proceeds by Industry (US$m) Jan June $,..% $7,7.7.7% $,..% $,7..% $,..%. $,7. 7.% $,..% $7,..% $ $ Industrials Financials High Technology Energy and Power Materials Consumer Staples Real Estate Consumer Products and Services $ 7 Retail Healthcare Media and Entertainment Government and Agencies

14 First Half Syndicated Loans Managing Underwriters Japan Japan Loan Volume NonJapanese Borrowers Japan Loans Mandated Arrangers (Sa) Proceeds (US$ m) $, $, $, $, $, $, $ $ Proceeds (US$m) No. of Deals Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Proceeds per Mandated Arranger (US$m) # of Deals per MA Market Market # of Market Change in Mandated Arranger Rank Rank ProceedsShare % Share Ch. Deals Sh % # of Deals, Sumitomo Mitsui Finl Grp Inc,.7... Mitsubishi UFJ Financial Group 7,...7. Development Bank of Japan Inc,....7 Sumitomo Mitsui Trust Holdings,.... Citi, Resona Holdings Inc 7 7,.... Bank of Yokohama,.... Credit Agricole CIB....7 Goldman Sachs & Co.... Hiroshima Bank Ltd.... Shinsei Bank....7 Aozora Bank Ltd.... Shinkin Central Bank Bank Ltd NishiNippon City Bank Ltd Nomura *.... Taishin International Bank * *.... *.... ING * *.... Hokuhoku Financial Group Inc.... Sapporo Hokuyo Holdings Inc.7... Tokyo Star Bank Shiga Bank Ltd....,...7 Industry Total,.. 7 Industry % Change from Same Period Last Year.%.% Industry % Change from Last Quarter.% 7.% *tie Japan Loan Volume by Maturity Date Second Quarter Japan Loans Top Uses of Proceeds (US$m) Jan June Proceeds (US$b) $ $ $ $ $ $ $ $ $ Proceeds(US$b),,, $,..% $,7. 7.% $,..%. $,..% Working Capital General Corporate Purposes Refinancing Operating Fund/Cash Reserve Capital Expenditures Property Acquisition Acquisition Financing Refinance Bank Debt $ & Beyond Leveraged Buyout Construction

15 First Half Syndicated Loans Managing Underwriters Ranking Criteria Summary If you would like to participate in the submission process, receive quarterly press releases, or have questions about league table criteria please contact: Americas Salvatore Reres Tel: + salvatore.reres@thomsonreuters.com Europe Ewelina Jarecka Tel: ewelina.jarecka@thomsonreuters.com AsiaPacific Carina CausonIsrael Tel: carina.causon@thomsonreuters.com Japan Megumi Kono Tel: + megumi.kono@thomsonreuters.com Database coverage includes all loan transactions that have reached financial close by the submission deadline and of which Thomson Reuters has been made aware. All current and previous year's data is as of :pm EDT on June,. Global, Americas, EMEA, AsiaPacific and Japan bookrunner and mandated arranger league table volumes and rankings are based on general close date instead of financial close date. Bilateral, selfarranged, commercial and unknown loans are excluded from league tables as well as loans with a maturity of less than days. All league tables are based on deal proceeds unless otherwise specified. Regional league tables are based on Target Market. league tables will give full credit to the bookrunner, equal if joint. In cases of consolidation, credit will be given to the surviving/parent firm Mandated Arranger league tables will give equal credit to the NonAmericas mandated arranger and equal credit to the Americas Tier agent. In cases of consolidation, credit will be givien to the surviving/parent firm. Imputed fees are calculated using Freeman Consulting proprietary algorithm where spreads or fees are not disclosed. Deal fees are on a gross basis before all expenses. Each underwriter or advisor is allocated its share of deal fees using Freeman & Co. allocation methodology, based on the number of underwriters or advisors on the deal and their role. No fees are allocated to syndicated members. NonUS dollar denominated transactions are converted to the US dollar equivalent at the time of pricing. league tables include club syndicate transactions that are sold down in the syndication process to firms that were not part of the original club syndicate. Mandated Arranger league tables include all club syndicate transactions, regardless of selldown process. and Mandated Arranger league tables only include amendments that require % lender vote for the following amendments: decrease in pricing, change in tenor if maturity is extended by a period of more than days, guarantor or collateral release. An increase in deal size after syndication has ended will be reflected as an add on tranche. League table volumes for Mitsubishi UFJ Financial Group and Morgan Stanley, included herein, reflect changes after the commencement of their jointly established securities firms in Japan: () Mitsubishi UFJ Morgan Stanley Securities and () Morgan Stanley MUFG Securities. Credit for the newly established joint ventures rolls up to Morgan Stanley. For Japanese involvement league tables Morgan Stanley will be represented as "Mitsubishi UFJ Morgan Stanley". Thomson Reuters Investment Banking loans data is compiled in conjunction with Loan Pricing Corporation (LPC). In combination, Thomson Reuters Investment Banking and LPC offer the most comprehensive and accurate view of the syndicated loans market available. While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable for any errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. Thomson Reuters has not undertakenany liability or obligation relating to the purchaseor sale of securities for or by any personin connectionwith this document. Thomson Reuters. All rights reserved. Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party.

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