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2012 League Tables 2012 League Tables 2012 League Tables

01/01/2013

Bloomberg

Bloomberg 2012

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

Global Capital Markets League Tables


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

5 . Americas Equity Offerings


6 . U.S. Equity & Equity Linked

Just type LEAG <GO> for underwriter rankings or LALT <GO> for legal adviser rankings and then click on the red

7 . EMEA Equity, Equity Linked & Rights


Offerings

8 . Asia-Pacific Equity, Equity Linked & Rights


9 . Corporate Bonds (All)
10 . International Bonds
11 . Global Bonds

'Select a Market' button in the top left of your screen to view a complete range of rankings available for fixed income,
equity, equity-linked and syndicated loans. Alternatively, press the green <Help> key on your BLOOMBERG
PROFESSIONAL(R) for further instructions.

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

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

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

16 . U.S. Leveraged Loans


17 . EMEA Loans Mandated Arranger

release and data found on the Bloomberg Professional Service.

18 . EMEA Loans Book Runner


19 . Asia ex-Japan Loans Mandated Arranger
20 . Asia ex-Japan Loans Book Runner

For data submissions or queries, please contact:


Contact

Phone

Fax

Email

Americas

Paul Bandong

+1-609-279-5187

+1-646-268-5455

calendar@bloomberg.net

EMEA

Jorge Fernandez

+44-20-3216-4345

+44-20-77392-6161

emeacapmkts@bloomberg.net

Asia-Pac (HK)

Vivian Lee

+852-2977-2125

+852-2977-2175

vlee81@bloomberg.net

Asia-Pac (SG)

Piyanut Ruangrailak

+65-6499-2629

+65-6499-2729

praungrailak@bloomberg.net

For 24 hour global customer support call

+1 212 318 2000

+44 20 7330 7500

+65 6212 1000

+81 3 3201 8900

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

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1

Top Underwriter Rankings Summary

Bloomberg

1/1/12 - 12/31/12

Year 2012

Equity

Top Underwriter

Global Equity, Equity Linked & Rights

Morgan Stanely

U.S. Equity & Equity Linked

Year 2011

Mkt Shr Amount


(%)
USD (Mln)

Fees
(%)

Issues Rank

Mkt Shr
(%)

8.7

$51,441

2.631

271

8.3

Citi

12.5

$30,361

2.484

201

10.1

EMEA Equity, Equity Linked & Rights Offerings

Goldman Sachs & Co

12.1

$14,657

5.61

30

11.6

Asia-Pacific Equity, Equity Linked & Rights

UBS

9.2

$15,534

2.473

100

6.1

Corporate Bonds (All)

JP Morgan

6.8

$268,041

0.577

1,585

5.9

International Bonds

JP Morgan

7.4

$278,491

0.412

1,361

5.8

Global Bonds

JP Morgan

13.4

$126,768

0.438

495

12.0

U.S. Bonds

JP Morgan

12.7

$257,944

0.48

1,319

12.6

Euromarket Bonds

Deutsche Bank AG

6.1

$152,874

0.262

891

6.7

Asia-Pacific Bonds

Morgan Stanely

4.5

$52,990

0.338

533

4.7

Debt

Syndicated Loans
U.S. Loans

JP Morgan

17.7

$267,296

n/a

937

20.4

U.S. Leverage Loans

Bank of America Merrill Lynch

13.1

$83,297

n/a

487

16.9

EMEA Loans Mandated Arranger

BNP Parabas Group

4.9

$36,085

n/a

261

5.8

EMEA Loans Book Runner

BNP Parabas Group

5.6

$35,589

n/a

170

7.6

Asia ex-Japan Loans Mandated Arranger

State Bank of India

10.9

$30,619

n/a

77

11.1

Asia ex-Japan Loans Book Runner

State Bank of India

11.6

$19,212

n/a

38

11.7

LEAG <GO>

LREP <GO>

2013BloombergFinanceL.P.Allrightsreserved.

NI LEAG CRL <GO>

LALT <GO>

LMX <GO>

NI DEALSPACE <GO>

Bloomberg

Global Equity, Equity Linked & Rights Review


Notable Highlights

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.

Global Equity, Equity Linked & Rights Quarterly Volume


$350

US Equity & Equity Linked Quarterly Volume


$100

1,600

Volume
$300

300

Volume

$90
1,400

Deal Count

Deal Count

250

1,200
$250

800
$150
600
$100
400

200
$60
$50

150

$40

Deal Count

$200

Total Volume in USD (Billions)

$70
1,000

Deal Count

Total Volume in USD (Billions)

$80

100
$30
$20
50

$50

200

$0

$10
$0

0
2007
Q4

2008
Q4

2009
Q4

2010
Q4

2011
Q4

EMEA Equity, Equity Linked & Rights Quarterly Volume


$120

2007
Q4

2012
Q4

2008
Q4

2009
Q4

2011
Q4

2012
Q4

APAC Equity, Equity Linked & Rights Quarterly Volume


$150

350

900

Volume

Volume
$100

2010
Q4

300

Deal Count

800

Deal Count

$125

$60
150
$40

100

$100

600

500
$75
400

$50

Deal Count

200

Deal Count

Total Volume in USD (Billions)

$80

Total Volume USD (Billions)

700

250

300

200

$20

50

$25
100

$0

0
2007
Q4

2008
Q4

2009
Q4

2010
Q4

2011
Q4

2012
Q4

$0

0
2007
Q4

2008
Q4

2009
Q4

2010
Q4

2011
Q4

2012
Q4

* All 2012 YTD numbers as of September 28th, 2012

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Bloomberg

Global Fixed Income Review


Notable Highlights

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.

Global Bond Quarterly Volume

US Corporate Bond Quarterly Volume

$450

350

$500
$450

Deal Count

300

Deal Count

2,500

$400

$350
250

$250

$200

150

Issuance

200

$150

Volume in USD (Billions)

$350

$300

2,000

$300
$250

1,500

$200
1,000

$150

100
$100

$100

500

50

$50

$50

$0

$0

0
2007
Q4

2008
Q4

2009
Q4

2010
Q4

2011
Q4

0
2007
Q4

2012
Q4

2008
Q4

EMEA Corporate Quarterly Volume


$900

2009
Q4

2010
Q4

2011
Q4

2012
Q4

APAC Corporate Bond Quarterly Volume


$350

3500

Volume

1800

Volume

Deal Count

$800

3000

$300

2500

$250

1600

Deal Count

1400

$700

1500

Volume USD (Billions)

$400

Issuance

2000

$500

$200

1000

800

$150

$300

600

1000

$100

$200

400

500

$100

$0

0
2007
Q4

LEAG <GO>

2008
Q4

2009
Q4

2010
Q4

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2013 Bloomberg Finance L.P. All rights reserved.

2011
Q4

2012
Q4

LMX <GO>

$50

200

$0

0
2007
Q4

LALT <GO>

2008
Q4

2009
Q4

LEAG <GO>

2010
Q4

2011
Q4

2012
Q4

LREP <GO>
* All YTD numbers as of 01/02/2013

Issaucne

1200

$600

Volume in USD (Billions)

Issuance

$400

Volume USD (Billions)

3,000

Volume

Volume

Bloomberg

Global Syndicated Loan Markets Review

Global Syndicated Loans Quarterly Volume

Americas Syndicated Loans Quarterly Volume

$1400

2,500

$700

1,400

Volume
2,000

Issuance

$600

1,000

$400

Volume in USD (Billions)

1,500

$800

1,200

Deal Count

$1000
Volume in USD (Billions)

Volume

$600

Deal Count

$500

1,000

$400

800

$300

600

$200

400

$100

200

Issuance

$1200

500
$200

$0

0
Q4
2008

Q4
2010

Q4
2009

Q4
2011

$0

Q4
2012

0
Q4
2007

EMEA Syndicated Loans Quarterly Volume

Q4
2008

Q4
2009

Q4
2010

Q4
2011

Q4
2012

APAC Syndicated Loans Quarterly Volume


$250

$600
Volume

$500

Volume
700

Deal Count

500

$200
600

$400

400

$300

300

$200

200

$100

100

Volume in USD (Billions)

Deal Count

Issuance

Volume in USD (Billions)

800

600

500

$150

400
$100

300

200
$50
100

$0

0
Q4
2007

Q4
2008

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Q4
2009

Q4
2010

Q4
2011

LEAG <GO>

Q4
2012

$0

0
Q4
2007

UNDW<GO>

Q4
2008

Q4
2009

Q4
2010

Q4
2011

NI LEAG CRL<GO>

Q4
2012

Issuance

Q4
2007

Bloomberg
Underwriter League Tables

Global Equity, Equity Linked & Rights


1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Morgan Stanley

8.7

51,441

2.63

271

8.3

0.4

Goldman Sachs & Co

8.5

50,504

2.80

253

8.9

(0.4)

JP Morgan

8.5

50,187

2.96

319

7.2

1.3

Citi

8.4

49,673

2.48

291

5.7

2.7

Bank of America Merrill Lynch

7.8

46,269

2.79

301

7.4

0.4

Deutsche Bank AG

6.8

40,263

2.48

262

6.2

0.6

Credit Suisse

6.3

37,092

2.59

260

6.4

(0.1)

UBS

5.8

34,500

2.66

254

5.3

0.5

Barclays

5.3

31,163

2.01

194

4.1

1.2

Banque Saudi Fransi

10

2.2

13,015

n/a

RBC Capital Markets

11

1.8

10,741

3.44

135

13

1.2

0.6

Nomura Holdings Inc

12

1.8

10,491

4.10

68

10

1.8

Wells Fargo & Co

13

1.8

10,441

2.87

130

11

1.5

0.3

HSBC Bank PLC

14

1.5

9,023

3.06

51

12

1.4

0.1

BNP Paribas Group

15

0.8

4,893

2.89

30

15

1.1

(0.3)

Sumitomo Mitsui Financial Group Inc

16

0.8

4,750

3.13

23

50

0.3

0.5

BMO Capital Markets

17

Societe Generale

18

Jefferies Group Inc

19

Daiwa Securities Group Inc

20
TOTAL

0.8
0.7
0.7

4,662
4,287
4,085

0.7

3,886

100%

592,066

4.15
n/a
4.91
3.13
3.05

44
24

26
52

0.6
0.3

76

27

0.6

44

16

1.1

3,126 565,756

100%

0.2
0.4
0.1
(0.4)

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

5.55%
20.29%
37.58%
8.34%
15.53%
12.71%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
360,000

1600

320,000

1400

280,000

1200

240,000
1000
200,000
800
160,000

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

600

120,000
80,000

400

40,000

200

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

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

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2013Bloomberg Finance L.P. All rights reserved.

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LREP <GO>
2

Bloomberg
Underwriter League Tables

Global Equity & Equity Linked


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Morgan Stanley

9.4

50,935

2.63

268

8.8

0.6

Goldman Sachs & Co

9.1

49,269

2.80

245

8.9

0.2

Citi

8.8

47,713

2.48

281

5.8

3.0

JP Morgan

8.4

45,084

2.96

305

7.2

1.2

Bank of America Merrill Lynch

8.1

43,790

2.79

293

7.6

0.5

Deutsche Bank AG

6.9

37,375

2.48

249

5.6

1.3

Credit Suisse

6.4

34,404

2.59

249

6.3

0.1

Barclays

5.7

30,657

2.01

190

4.2

1.5

UBS

5.6

30,222

2.66

234

5.1

0.5

RBC Capital Markets

10

2.0

10,672

3.44

135

12

1.3

0.7

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

Wells Fargo & Co

11

1.9

10,441

2.87

130

11

1.7

0.2

Total:

Nomura Holdings Inc

12

1.8

9,561

4.10

62

10

2.0

(0.2)

HSBC Bank PLC

13

1.2

6,509

3.06

41

15

1.1

0.1

Sumitomo Mitsui Financial Group Inc

14

0.9

4,750

3.13

23

46

0.3

0.6

BMO Capital Markets

15

0.9

4,662

4.15

44

23

0.7

0.2

Jefferies Group Inc

16

0.8

4,085

4.91

76

24

0.7

0.1

Daiwa Securities Group Inc

17

0.7

3,886

3.13

44

13

1.2

(0.5)

TD Securities

18

0.7

3,786

4.13

39

17

1.0

(0.3)

Guosen Securities Co Ltd

19

0.7

3,618

5.13

23

20

0.8

(0.1)

CITIC Securities Co Ltd

20

21

0.8

(0.1)

TOTAL

0.7
100%

3,607
539,327

4.11
3.05

21
2,957 510,987

100%

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

100.00%

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

1400

240,000

1200

200,000

1000

160,000

800

120,000

600

80,000

400

40,000

200

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

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

5.42%
21.36%
37.49%
8.41%
16.02%
11.30%

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LREP <GO>

2013Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

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3

Bloomberg
Underwriter League Tables

Global Equity Linked


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Goldman Sachs & Co

9.8

5,961

2.89

22

10.7

Deutsche Bank AG

9.7

5,877

2.83

35

3.8

5.9

JP Morgan

9.1

5,534

2.71

38

9.4

(0.3)

Bank of America Merrill Lynch

8.6

5,209

2.81

30

6.0

2.6

Morgan Stanley

7.1

4,311

3.48

27

9.2

(2.1)

Credit Suisse

7.1

4,300

3.33

24

5.3

1.8

Citi

6.1

3,707

2.79

29

8.1

(2.0)

Barclays

5.2

3,141

2.52

21

10

3.1

2.1

UBS

3.5

2,137

3.54

16

5.0

(1.5)

BNP Paribas Group

10

3.3

1,989

n/a

13

12

2.1

1.2

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

RBC Capital Markets

11

2.3

1,425

3.62

17

13

1.8

0.5

Total:

Nomura Holdings Inc

12

2.1

1,296

n/a

11

2.2

(0.1)

China International Capital Corp

13

2.1

1,264

n/a

15

1.8

0.3

Guosen Securities Co Ltd

14

1.6

958

n/a

HSBC Bank PLC

15

1.5

888

2.50

14

1.8

(0.3)

ABG Sundal Collier Asa

16

1.4

835

n/a

42

0.3

1.1

Wells Fargo & Co

17

Societe Generale

18

RBS

19

DBS Group Holdings Ltd

20
TOTAL

1.3
1.2
1.0
1.0
100%

779
754
603
599
60,860

3.00
n/a
n/a
n/a
3.16

12
6
5

30
24

0.6
0.9

17

1.3

6
322 65,399

(0.9)

0.7
0.3
(0.3)
-

7.34%
29.46%
20.88%
17.81%
15.38%
9.12%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
36,000

140

32,000

120

28,000
100

24,000
20,000

100%

80

16,000

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

60

12,000

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

40

8,000

20

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

4,000

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LREP <GO>

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4

Bloomberg
Underwriter League Tables

Americas Equity Offerings


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Citi

11.4

30,250

2.46

193

7.4

4.0

Bank of America Merrill Lynch

9.9

26,351

2.78

200

9.8

0.1

Barclays

9.4

24,984

1.97

151

7.6

1.8

Morgan Stanley

9.3

24,640

2.66

154

9.2

0.1

JP Morgan

9.2

24,453

3.02

181

10.0

(0.8)

Goldman Sachs & Co

7.9

21,086

2.76

137

7.6

0.3

Credit Suisse

7.3

19,354

2.61

151

8.7

(1.4)

Deutsche Bank AG

7.1

18,988

2.42

145

5.5

1.6

UBS

3.8

10,171

2.64

102

4.3

(0.5)

Wells Fargo & Co

10

3.6

9,569

2.83

116

10

4.0

(0.4)

RBC Capital Markets

11

3.4

9,043

3.42

108

11

2.5

0.9

BMO Capital Markets

12

1.6

4,284

4.20

36

14

1.5

0.1

TD Securities

13

1.3

3,351

4.15

30

12

2.1

(0.8)

Jefferies Group Inc

14

1.2

3,181

4.97

60

16

1.2

CIBC

15

1.0

2,584

4.21

32

15

1.4

(0.4)

Scotiabank

16

0.8

2,004

4.49

27

19

0.9

(0.1)

Allen & Co

17

0.7

1,962

1.56

73

0.7

Banco BTG Pactual SA

18

0.7

1,888

3.16

28

17

1.1

(0.4)

Raymond James Morgan Keegan

19

0.7

1,828

4.80

40

Macquarie Group Ltd

20

27

22

0.7

1,153 204,298

100%

TOTAL

0.5

1,448

100%

265,729

1.87
2.92

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

4.73%
15.49%
45.17%
3.91%
20.20%
10.49%
100.00%

(0.2)

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

QUARTERLY VOLUME
USD (Mln) / #Deals
100,000

450

90,000

400

80,000
350

70,000
60,000

300

50,000

250

40,000

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

200

30,000
150

20,000

100

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

10,000

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5

Bloomberg
Underwriter League Tables

U.S. Equity & Equity Linked


1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Citi

12.5

30,361

2.48

201

10.1

Bank of America Merrill Lynch

11.2

27,109

2.77

202

11.2

Barclays

10.7

25,976

1.97

160

9.0

1.7

JP Morgan

10.6

25,773

3.03

195

12.7

(2.1)

Morgan Stanley

10.5

25,554

2.67

160

10.9

(0.4)

Goldman Sachs & Co

9.9

23,988

2.81

145

10.6

(0.7)

Credit Suisse

7.9

19,181

2.60

150

8.6

(0.7)

Deutsche Bank AG

7.8

18,893

2.43

148

6.5

1.3

UBS

4.3

10,500

2.63

105

5.4

(1.1)

Wells Fargo & Co

10

4.3

10,308

2.83

127

10

4.6

(0.3)

RBC Capital Markets

11

2.0

4,755

2.66

63

12

1.3

0.7

Jefferies Group Inc

12

1.4

3,402

5.00

62

11

1.4

Allen & Co

13

0.8

1,962

1.56

53

0.8

Raymond James Morgan Keegan

14

0.8

1,952

4.45

35

Macquarie Group Ltd

15

0.5

1,304

1.44

15

0.5

KKR Capital Markets LLC

16

0.5

1,297

2.46

34

0.1

0.4

Stifel Nicolaus Weisel

17

0.5

1,230

5.85

34

16

0.5

KeyBanc Capital Markets

18

0.4

1,057

4.33

12

19

0.3

0.1

Piper Jaffray & Co

19

0.3

816

5.99

22

14

0.6

(0.3)

70,000

Robert W Baird & Co

20

21

0.2

0.1

60,000

TOTAL

0.3
100%

757
242,468

5.35
2.77

19
796 183,273

2.4

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

2.89%
17.54%
44.20%
3.75%
18.91%
12.71%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
100,000

280

90,000
240
80,000
200

160

100%

50,000

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

40,000

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

120

30,000
80
20,000
40

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

10,000

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6

Bloomberg
Underwriter League Tables

EMEA Equity, Equity Linked & Rights Offerings


1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Goldman Sachs & Co

12.1

14,657

5.61

30

11.6

0.5

Deutsche Bank AG

10.2

12,276

4.45

54

11.1

(0.9)

JP Morgan

9.1

11,036

3.82

41

6.6

2.5

Morgan Stanley

9.1

10,941

1.87

38

8.7

0.4

Credit Suisse

7.9

9,524

1.72

41

8.0

(0.1)

Bank of America Merrill Lynch

7.2

8,668

5.15

32

7.5

(0.3)

UBS

6.5

7,855

6.41

44

5.5

1.0

Citi

4.9

5,866

1.09

18

5.1

(0.2)

BNP Paribas Group

3.7

4,435

n/a

24

3.7

Societe Generale

10

3.6

4,287

n/a

24

19

1.1

2.5

HSBC Bank PLC

11

2.7

3,255

n/a

13

12

2.7

Barclays

12

2.6

3,086

6.87

20

10

3.6

(1.0)

Nomura Holdings Inc

13

2.2

2,617

n/a

11

13

1.8

0.4

Mediobanca

14

1.7

2,101

4.00

20

1.0

0.7

Finansbank AS

15

1.0

1,256

n/a

Investec PLC

16

0.9

1,132

n/a

31

0.3

0.6

Intesa Sanpaolo SpA

17

0.9

1,058

n/a

16

1.4

(0.5)

UniCredit

18

0.8

918

n/a

10

11

3.0

(2.2)

Commerzbank AG

19

0.7

832

n/a

15

1.4

(0.7)

Nordea

20

0.7
100%

803
120,727

n/a
2.82

50
6
362 137,638

0.1

0.6

TOTAL

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

8.37%
19.75%
35.28%
12.30%
11.61%
12.69%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
100,000

200
180

80,000

160
140

60,000

120

100%

40,000

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

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

100
80

20,000

60
40

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

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7

Bloomberg
Underwriter League Tables

Asia-Pacific Equity, Equity Linked & Rights


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

UBS

9.2

15,534

2.47

100

6.1

3.1

Morgan Stanley

8.1

13,661

2.44

62

6.6

1.5

Citi

7.1

11,934

3.00

63

11

2.9

4.2

JP Morgan

6.6

11,184

2.19

68

3.6

3.0

Goldman Sachs & Co

6.3

10,629

2.89

69

7.2

(0.9)

Deutsche Bank AG

5.0

8,377

2.59

57

3.9

1.1

Bank of America Merrill Lynch

4.8

8,010

2.38

48

4.7

0.1

Nomura Holdings Inc

4.7

7,852

4.10

56

3.9

0.8

Credit Suisse

4.0

6,696

2.09

55

4.2

(0.2)

Sumitomo Mitsui Financial Group Inc

10

2.8

4,750

3.13

23

28

0.8

2.0

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

HSBC Bank PLC

11

2.8

4,723

2.72

32

15

1.9

0.9

Total:

Daiwa Securities Group Inc

12

2.3

3,876

3.11

43

10

3.1

(0.8)

CITIC Securities Co Ltd

13

2.2

3,771

4.11

22

14

2.0

0.2

Guosen Securities Co Ltd

14

2.1

3,618

5.13

23

13

2.0

0.1

Mizuho Financial Group Inc

15

2.0

3,318

3.03

19

22

1.2

0.8

China International Capital Corp

16

1.8

3,073

3.99

13

3.2

(1.4)

CIMB

17

Macquarie Group Ltd

18

1.3

2,187

2.68

30

17

1.5

(0.2)

DBS Group Holdings Ltd

19

1.2

2,018

2.39

27

18

1.5

(0.3)

Bank of China

20
TOTAL

1.8

1.2
100%

3,042

2,001
168,429

1.82

3.24
3.51

22

26

19
17
1,510 196,468

0.9

1.4

0.9

(0.2)

100%

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

100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
160,000

900

140,000

800

120,000

700

100,000

600

80,000

500

60,000

400

40,000

300

20,000

200

100

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

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

4.94%
27.80%
33.57%
13.04%
11.02%
9.62%

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8

Bloomberg
Underwriter League Tables

Corporate Bonds (All)


1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

6.8

268,041

0.58

1585

5.9

Citi

5.4

212,805

0.60

1386

4.7

0.7

Bank of America Merrill Lynch

5.0

196,750

0.67

2757

5.1

(0.1)

Deutsche Bank AG

4.7

184,611

0.49

1216

5.2

(0.5)

Morgan Stanley

4.4

172,425

0.52

2398

4.4

Barclays

4.3

170,636

0.55

1322

4.4

(0.1)

Goldman Sachs & Co

4.3

170,556

0.50

859

4.1

0.2

HSBC Bank PLC

4.1

160,729

0.35

1175

3.6

0.5

UBS

3.0

117,108

0.65

1192

3.1

(0.1)

Credit Suisse

10

2.9

113,121

0.56

705

11

2.9

BNP Paribas Group

11

2.8

108,693

0.37

662

10

2.9

(0.1)

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

RBS

12

2.6

103,841

0.50

713

12

2.7

(0.1)

Total:

Wells Fargo & Co

13

2.2

87,651

0.84

1981

16

1.5

0.7

RBC Capital Markets

14

1.9

73,700

0.71

565

14

1.7

0.2

Credit Agricole CIB

15

1.6

62,211

0.41

320

17

1.3

0.3

UniCredit

16

1.5

59,016

0.51

288

13

1.9

(0.4)

Societe Generale

17

1.4

54,383

0.26

308

18

1.2

0.2

Mizuho Financial Group Inc

18

1.2

47,749

0.36

409

19

1.1

0.1

Nomura Holdings Inc

19

1.0

39,282

0.32

427

22

1.0

DZ Bank AG

20

0.9
100%

34,082
3,944,560

0.08
0.51

0.7

0.2

TOTAL

31
404
20,859 3,286,760

0.9

100%

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

Includes all eligible corporate bonds worldwide.

4.79%
14.39%
50.42%
2.22%
8.09%
13.31%
6.78%
100.00%

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

6000
5800

1,100,000

5600
1,000,000

5400

900,000

5200

800,000

5000
4800

700,000

Volume in USD millions.

4600
600,000

4400
4200

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

500,000

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9

Bloomberg
Underwriter League Tables

International Bonds
1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

7.4

278,491

0.41

1361

5.8

1.6

Barclays

6.8

255,272

0.28

1159

6.9

(0.1)

Deutsche Bank AG

6.6

246,281

0.30

1245

6.7

(0.1)

Citi

5.7

214,105

0.41

1045

4.5

1.2

HSBC Bank PLC

5.4

204,814

0.29

1123

5.3

0.1

BNP Paribas Group

4.6

171,937

0.22

806

5.0

(0.4)

Bank of America Merrill Lynch

4.3

162,561

0.48

858

3.7

0.6

Goldman Sachs & Co

4.3

162,490

0.36

667

4.0

0.3

UBS

3.7

139,416

0.27

749

4.4

(0.7)

Morgan Stanley

10

3.5

133,162

0.42

630

12

2.9

0.6

Credit Suisse

11

3.4

127,214

0.30

640

11

3.0

0.4

RBS

12

3.0

113,701

0.39

644

10

3.1

(0.1)

UniCredit

13

2.9

108,911

0.36

453

13

2.8

0.1

Credit Agricole CIB

14

2.6

95,897

0.23

393

14

2.5

0.1

Societe Generale

15

2.1

79,158

0.20

377

15

2.0

0.1

RBC Capital Markets

16

1.6

59,802

0.38

375

17

1.8

(0.2)

Natixis

17

1.5

56,298

0.24

256

18

1.8

(0.3)

DZ Bank AG

18

1.5

54,593

0.11

566

20

1.3

0.2

Landesbank Baden-Wuerttemberg

19

1.2

46,915

0.03

392

19

1.5

(0.3)

Commerzbank AG

20

1.2
100%

44,375
3,758,730

0.19
0.34

TOTAL

22
247
12,569 3,565,190

1.2

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

3.23%
8.60%
45.28%
27.63%
3.75%
6.87%
4.64%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
1,500,000

4000

1,400,000

3800

1,300,000

3600

1,200,000

3400

1,100,000
3200

100%

1,000,000

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

3000

900,000

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

2800

800,000

2600

600,000

2400

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

700,000

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LMX <GO>

LALT <GO>

LEAG <GO>

LREP <GO>
10

Bloomberg
Underwriter League Tables

Global Bonds
1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

13.4

126,768

0.44

495

12.0

1.4

Barclays

10.6

99,573

0.29

258

13.9

(3.3)

Citi

9.8

92,226

0.44

341

7.8

2.0

Bank of America Merrill Lynch

8.1

76,477

0.52

355

7.4

0.7

Deutsche Bank AG

7.5

71,062

0.32

227

6.9

0.6

Goldman Sachs & Co

7.1

67,334

0.40

247

8.2

(1.1)

Morgan Stanley

6.8

64,115

0.43

252

6.0

0.8

UBS

5.0

46,756

0.29

160

8.7

(3.7)

BNP Paribas Group

4.5

42,606

0.21

145

4.8

(0.3)

HSBC Bank PLC

10

4.4

41,173

0.28

148

10

4.3

0.1

Credit Suisse

11

4.0

37,643

0.35

134

12

3.2

0.8

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

Wells Fargo & Co

12

3.7

35,126

0.63

177

14

2.0

1.7

Total:

RBS

13

2.8

26,105

0.49

149

13

2.5

0.3

RBC Capital Markets

14

2.4

22,354

0.36

83

11

3.7

(1.3)

CIBC

15

1.1

10,499

0.11

19

16

1.2

(0.1)

TD Securities

16

1.0

9,767

0.16

34

15

1.6

(0.6)

BMO Capital Markets

17

0.8

7,942

0.27

15

17

0.8

National Bank Financial Inc

18

0.8

7,481

0.08

14

18

0.7

0.1

Scotiabank

19

0.6

5,907

0.33

24

27

0.1

0.5

320,000

US Bancorp

20

24

0.2

0.4

280,000

TOTAL

0.6
100%

5,666
943,793

0.60
0.39

42
1,085 768,639

4.47%
12.97%
23.53%
36.71%
4.79%
8.24%
9.29%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
440,000

320

400,000
280
360,000
240

200

100%

240,000

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

200,000

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

160

160,000
120
120,000
80

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

80,000

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11

Bloomberg
Underwriter League Tables

U.S. Bonds
2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

12.7

257,944

0.48

1319

12.6

Citi

9.6

194,209

0.49

1059

8.6

1.0

Bank of America Merrill Lynch

9.1

185,162

0.61

2758

9.8

(0.7)

Barclays

8.7

175,736

0.35

874

10.4

(1.7)

Deutsche Bank AG

7.1

144,614

0.37

724

6.8

0.3

Morgan Stanley

6.9

140,514

0.50

2129

6.7

0.2

Goldman Sachs & Co

6.8

138,218

0.45

674

7.3

(0.5)

Credit Suisse

4.5

91,861

0.39

525

4.4

0.1

UBS

4.5

90,279

0.41

902

6.7

(2.2)

Wells Fargo & Co

10

4.5

90,210

0.78

2083

13

3.2

1.3

HSBC Bank PLC

11

4.0

81,554

0.27

409

11

3.8

0.2

BNP Paribas Group

12

3.4

69,348

0.22

359

10

4.1

(0.7)

RBS

13

2.8

57,612

0.53

401

12

3.2

(0.4)

RBC Capital Markets

14

2.0

41,009

0.55

319

14

1.9

0.1

Mitsubishi UFJ Financial

15

0.7

14,639

0.59

115

16

0.5

0.2

Jefferies Group Inc

16

0.7

13,750

0.17

179

15

0.6

0.1

Mizuho Financial Group Inc

17

US Bancorp

18

Credit Agricole CIB

19

Nomura Holdings Inc

20
TOTAL

0.6
0.6
0.5
0.5
100%

12,325
11,386
10,967
10,662
2,026,670

0.48
0.63
0.60
0.12
0.46

95
87
96

26
25

0.3
0.3

0.1

0.3
0.3

24

0.3

0.2

17

0.5

62
9,802 1,668,880

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

4.62%
15.07%
30.31%
24.41%
5.27%
11.68%
8.64%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
700,000

3200

650,000

3000

600,000
2800

550,000
500,000

100%

2600

450,000

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

2400

400,000

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

2200

350,000

2000

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

300,000

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12

Bloomberg
Underwriter League Tables

Euromarket Bonds
1/1/12

2012

- 12/31/12
FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Deutsche Bank AG

6.1

152,874

0.26

891

6.7

(0.6)

HSBC Bank PLC

5.7

141,957

0.28

861

5.5

0.2

Barclays

5.5

138,312

0.25

813

4.8

0.7

BNP Paribas Group

4.9

121,350

0.23

619

5.3

(0.4)

JP Morgan

4.4

110,647

0.28

694

3.3

1.1

UniCredit

4.3

107,352

0.36

444

3.9

0.4

Credit Agricole CIB

3.6

90,486

0.17

350

3.4

0.2

Citi

3.6

89,760

0.24

545

11

3.0

0.6

UBS

3.4

85,638

0.22

556

3.3

0.1

RBS

10

3.3

82,497

0.25

464

3.1

0.2

Credit Suisse

11

3.2

80,935

0.20

453

10

3.0

0.2

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

Goldman Sachs & Co

12

3.2

80,154

0.17

350

13

2.6

0.6

Total:

Societe Generale

13

3.0

75,014

0.19

350

12

2.7

0.3

Bank of America Merrill Lynch

14

2.5

62,227

0.24

402

16

2.2

0.3

Natixis

15

2.3

56,642

0.23

255

15

2.4

(0.1)

Morgan Stanley

16

2.2

55,211

0.35

354

19

1.8

0.4

DZ Bank AG

17

2.2

54,593

0.11

566

18

1.8

0.4

Landesbank Baden-Wuerttemberg

18

1.9

46,915

0.03

392

17

2.1

(0.2)

Commerzbank AG

19

1.7

43,705

0.19

242

20

1.7

Intesa Sanpaolo SpA

20

1.5
100%

36,630
2,501,450

0.91
0.24

TOTAL

14
125
11,053 2,569,230

2.5

2.02%
7.41%
53.71%
25.40%
3.30%
5.14%
3.02%
100.00%

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

3600
3400

900,000

3200
800,000

3000

(1.0)
700,000

100%

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

2800
2600

600,000

2400

Includes all eligible Euromarket bonds. Volume in USD millions.

500,000

2200
2000

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

400,000

LEAG <GO>

LREP <GO>

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LMX <GO>

LALT <GO>

LEAG <GO>

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13

Bloomberg
Underwriter League Tables

Asian Local Currency Bonds


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DISCL

DEAL

SHARE

USD (Mln)

FEES (%)*

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

HSBC Bank PLC

7.4

17,238

0.22

417

7.9

Standard Chartered PLC

6.4

14,913

0.18

297

5.6

0.8

CIMB

4.3

9,894

0.13

256

5.1

(0.8)

DBS Group Holdings Ltd

3.9

9,140

0.16

90

2.8

1.1

Axis Bank Ltd

3.4

7,854

n/a

260

3.0

0.4

KB Investment & Securities Co Ltd

3.2

7,467

0.28

142

3.8

(0.6)

Maybank

3.1

7,126

0.25

157

4.4

(1.3)

Woori Investment & Securities Co Ltd

3.1

7,124

0.28

105

3.0

0.1

Korea Investment & Securities Co

2.9

6,774

0.27

152

13

2.0

0.9

ICICI

10

2.1

4,842

n/a

196

10

2.4

(0.3)

Bangkok Bank PCL

11

2.0

4,654

0.08

70

28

1.1

0.9

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

Barclays

12

2.0

4,608

n/a

147

15

1.7

0.3

Total:

RHB

13

1.8

4,221

0.36

156

20

1.6

0.2

TongYang Securities Inc

14

1.7

4,036

0.30

100

12

2.2

(0.5)

Shinhan Investment Corp

15

1.7

3,889

0.27

63

21

1.5

0.2

Oversea-Chinese Banking Corp

16

1.6

3,666

n/a

69

35

0.9

0.7

Siam Commercial Bank PCL

17

1.6

3,607

n/a

47

36

0.8

0.8

AmInvestment Bank Bhd

18

1.5

3,525

n/a

100

3.0

Bank of China

19

1.4

3,234

n/a

24

38

Deutsche Bank AG

20

1.4
100%

3,195
231,739

0.17
0.28

26
90
3,167 195,674

TOTAL

(0.5)

4.77%
10.70%
54.35%
3.48%
9.66%
12.15%
4.88%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
65,000

900

(1.5)

60,000

850

0.8

0.6

55,000

1.2

0.2

50,000

800
750
700

100%

45,000
650

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

40,000

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

550

30,000

500

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

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

600

35,000

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LMX <GO>

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14

Bloomberg
Underwriter League Tables

U.S. Loans
2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

JP Morgan

17.7

267,269

937

20.4

(2.7)

Bank of America Merrill Lynch

15.6

234,899

958

18.0

(2.4)

Citi

9.8

148,270

408

10.5

(0.7)

Wells Fargo & Co

8.9

134,859

722

9.6

(0.7)

Barclays

5.7

85,688

326

4.3

1.4

Credit Suisse

3.4

51,176

236

3.6

(0.2)

Morgan Stanley

3.2

48,569

196

10

2.3

0.9

RBS

2.9

43,582

223

3.1

(0.2)

Goldman Sachs & Co

2.9

43,275

187

11

2.1

0.8

Deutsche Bank AG

10

2.8

42,367

213

2.6

0.2

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

RBC Capital Markets

11

2.7

40,251

211

17

1.3

1.4

Total:

Mitsubishi UFJ Financial

12

2.1

31,289

178

12

2.0

0.1

BNP Paribas Group

13

2.0

29,977

102

2.7

(0.7)

US Bancorp

14

1.8

26,649

230

15

1.4

0.4

PNC Bank

15

1.6

24,548

241

16

1.4

0.2

SunTrust Robinson Humphrey

16

1.6

24,316

189

14

1.5

0.1

UBS

17

1.4

21,385

122

20

0.9

0.5

General Electric Capital Corp

18

1.3

19,204

212

18

1.1

BMO Capital Markets

19

1.2

18,510

166

21

KeyBanc Capital Markets

20

1.2
100%

18,412
1,508,830

TOTAL

19
151
3,135 1,772,050

3.99%
35.64%
17.14%
11.31%
17.19%
14.73%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
550,000

1000

500,000

0.2

900

450,000

0.8

800

0.4

400,000

1.0

0.2

350,000

700
600

300,000

100%

500

250,000

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

400

200,000

300

100,000

200

50,000

100

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

150,000

LEAG <GO>

LREP <GO>

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LMX <GO>

LALT <GO>

LEAG <GO>

LREP <GO>
15

Bloomberg
Underwriter League Tables

U.S. Leveraged Loans


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

Bank of America Merrill Lynch

13.1

83,297

487

16.9

(3.8)

JP Morgan

12.8

81,297

364

13.9

(1.1)

Wells Fargo & Co

8.0

51,145

328

8.5

(0.5)

Credit Suisse

7.1

45,074

205

7.1

Barclays

6.2

39,833

201

5.1

1.1

Citi

6.1

38,950

168

5.7

0.4

Goldman Sachs & Co

5.5

35,149

159

4.5

1.0

Morgan Stanley

5.2

33,419

146

4.7

0.5

RBC Capital Markets

4.4

28,142

159

12

2.5

1.9

Deutsche Bank AG

10

4.4

27,761

156

4.6

(0.2)

General Electric Capital Corp

11

2.8

17,645

196

10

2.8

UBS

12

2.4

15,483

99

15

1.8

0.6

SunTrust Robinson Humphrey

13

2.3

14,434

122

11

2.7

(0.4)

BMO Capital Markets

14

2.2

13,920

124

16

1.4

0.8

Jefferies Group Inc

15

1.9

12,078

72

21

1.0

0.9

RBS

16

1.8

11,625

87

14

2.0

(0.2)

KeyBanc Capital Markets

17

1.5

9,569

96

18

1.3

0.2

BNP Paribas Group

18

1.3

8,216

49

13

2.1

(0.8)

PNC Bank

19

1.1

7,277

89

20

1.1

Mitsubishi UFJ Financial

20

26

0.4

0.6

TOTAL

1.0
100%

6,230
637,491

35
1,708 592,762

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

100%

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

Total:

4.28%
41.09%
10.33%
11.55%
13.33%
19.42%
100.00%

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

600

200,000

500

160,000

400

120,000

300

80,000

200

40,000

100

rated at all. Volume in USD millions.

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

LEAG <GO>

LREP <GO>

2013Bloomberg Finance L.P. All rights reserved.

LMX <GO>

LALT <GO>

LEAG <GO>

LREP <GO>
16

Bloomberg
Underwriter League Tables

EMEA Loans Mandated Arranger


2012

- 12/31/12

1/1/12

FIRM

2011

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

BNP Paribas Group

4.9

36,085

261

5.8

(0.9)

HSBC Bank PLC

4.6

33,658

261

4.7

(0.1)

RBS

4.5

33,283

212

4.8

(0.3)

Deutsche Bank AG

4.1

30,431

185

4.2

(0.1)

Barclays

3.8

28,213

189

3.6

0.2

Citi

3.8

27,758

169

3.6

0.2

JP Morgan

3.7

27,338

133

12

3.2

0.5

UniCredit

3.6

26,715

194

10

3.3

0.3

Societe Generale

3.5

25,726

189

4.0

(0.5)

Credit Agricole CIB

10

3.3

23,980

159

4.5

(1.2)

ING Groep NV

11

2.8

20,959

186

3.4

(0.6)

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

Commerzbank AG

12

2.8

20,707

193

11

3.2

(0.4)

Total:

Bank of America Merrill Lynch

13

2.3

16,708

102

13

2.7

(0.4)

Banco Santander SA

14

2.3

16,577

100

17

2.1

0.2

Mitsubishi UFJ Financial

15

2.2

15,934

102

14

2.3

(0.1)

Credit Suisse

16

2.1

15,733

71

24

1.3

0.8

Banco Bilbao Vizcaya Argentaria

17

2.0

15,056

107

21

1.5

0.5

Lloyds TSB Corporate Markets

18

2.0

14,476

140

16

2.2

(0.2)

Natixis

19

1.9

13,632

117

15

2.3

(0.4)

Mizuho Financial Group Inc

20

1.6
100%

11,552
736,230

1.3

0.3

TOTAL

25
77
1,124 1,120,000

9.74%
28.15%
16.33%
5.76%
15.00%
16.34%
8.67%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
320,000

480
440

280,000

400
240,000

360

200,000

100%

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

320
280

160,000

240
120,000

200
160

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

80,000

LEAG <GO>

LREP <GO>

2013Bloomberg Finance L.P. All rights reserved.

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Bloomberg
Underwriter League Tables

EMEA Loans Book Runner


2012

- 12/31/12

1/1/12

FIRM

2011

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

BNP Paribas Group

5.6

35,589

170

7.6

(2.0)

Deutsche Bank AG

5.5

35,050

136

4.6

0.9

JP Morgan

5.1

32,376

99

12

3.4

1.7

HSBC Bank PLC

4.5

28,741

141

5.1

(0.6)

Citi

4.5

28,678

112

4.5

RBS

4.3

27,065

119

5.3

(1.0)

UniCredit

4.0

25,523

122

3.7

0.3

Societe Generale

4.0

25,188

106

5.5

(1.5)

Barclays

4.0

25,071

103

4.3

(0.3)

Credit Agricole CIB

10

3.8

24,292

105

6.2

(2.4)

Bank of America Merrill Lynch

11

3.2

20,486

70

14

2.8

0.4

Commerzbank AG

12

3.0

18,794

140

10

3.6

(0.6)

ING Groep NV

13

3.0

18,698

109

11

3.5

(0.5)

Banco Santander SA

14

2.7

16,890

58

19

1.8

0.9

Morgan Stanley

15

2.3

14,863

32

20

1.6

0.7

Banco Bilbao Vizcaya Argentaria

16

2.3

14,735

62

21

1.4

0.9

Credit Suisse

17

2.2

14,183

46

22

1.3

0.9

Natixis

18

1.9

12,236

70

13

3.3

(1.4)

Lloyds TSB Corporate Markets

19

1.9

12,038

71

16

2.2

(0.3)

Mitsubishi UFJ Financial

20

15

2.4

(0.6)

TOTAL

1.8
100%

11,383
633,522

56
788 937,595

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

10.37%
29.94%
14.70%
6.43%
14.05%
14.86%
9.65%
100.00%

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

360

320

240,000

280
200,000
240

100%

160,000

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

200
120,000

160

120

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

80,000

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18

Bloomberg
Underwriter League Tables

Asia ex-Japan Loans Mandated Arranger


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

State Bank of India

10.9

30,619

77

11.1

(0.2)

Bank of China

6.4

17,847

135

6.0

0.4

DBS Group Holdings Ltd

4.2

11,783

99

2.7

1.5

Korea Development Bank

3.4

9,488

69

2.4

1.0

HSBC Bank PLC

3.4

9,404

122

4.2

(0.8)

United Overseas Bank

3.3

9,309

65

11

2.2

1.1

Sumitomo Mitsui Financial Group Inc

3.0

8,436

101

3.4

(0.4)

Standard Chartered PLC

3.0

8,407

123

3.8

(0.8)

Maybank

2.6

7,161

46

19

1.3

1.3

Oversea-Chinese Banking Corp

10

2.4

6,789

66

10

2.3

0.1

Mitsubishi UFJ Financial

11

2.4

6,687

81

2.5

(0.1)

KB Financial Group

12

2.3

6,473

37

27

1.0

1.3

Mizuho Financial Group Inc

13

2.0

5,529

85

12

2.2

(0.2)

IDBI Bank Ltd

14

1.8

5,077

18

13

2.2

(0.4)

China Development Bank

15

1.7

4,849

19

48

0.6

1.1

Bank of Taiwan

16

1.6

4,454

68

31

0.9

0.7

Axis Bank Ltd

17

1.6

4,360

24

3.2

(1.6)

ICICI

18

1.5

4,331

22

14

1.9

ANZ Banking Group

19

1.5

4,295

60

15

CIMB

20

33

17

1,067 327,013

100%

TOTAL

1.3
100%

3,695
280,052

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

9.23%
18.58%
30.46%
19.44%
15.94%
6.35%
100.00%

QUARTERLY VOLUME
USD (Mln) / #Deals
100,000

360

(0.4)

90,000

320

1.8

(0.3)

80,000

280

1.4

(0.1)

70,000

240

60,000

200

50,000

160

40,000

120

30,000

80

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

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

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Bloomberg
Underwriter League Tables

Asia ex-Japan Loans Book Runner


2012

- 12/31/12

1/1/12

FIRM

RANK

2011

MKT

VOLUME

DEAL

SHARE

USD (Mln)

COUNT

RANK

INDUSTRY BREAKDOWN

MKT

MKT

SHARE

SHARE

CHG (%)

State Bank of India

11.6

19,212

38

11.7

(0.1)

Bank of China

8.0

13,241

49

6.4

1.6

Korea Development Bank

4.3

7,073

32

3.0

1.3

Standard Chartered PLC

4.1

6,774

65

4.0

0.1

HSBC Bank PLC

3.5

5,853

49

4.4

(0.9)

Bank of Taiwan

3.3

5,482

58

20

1.5

1.8

KB Financial Group

3.3

5,479

21

48

0.6

2.7

IDBI Bank Ltd

2.9

4,835

14

3.5

(0.6)

Axis Bank Ltd

2.7

4,404

23

3.6

(0.9)

Sumitomo Mitsui Financial Group Inc

10

2.5

4,198

31

2.6

(0.1)

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

DBS Group Holdings Ltd

11

2.4

4,023

36

2.7

(0.3)

Total:

ICICI

12

2.2

3,602

14

11

2.3

(0.1)

China Development Bank

13

2.0

3,323

10

40

0.7

1.3

Mega Financial Holding Co Ltd

14

2.0

3,297

51

14

2.0

Mizuho Financial Group Inc

15

1.7

2,839

35

18

1.7

Shinhan Financial Group Co Ltd

16

1.6

2,721

19

25

1.2

0.4

Taiwan Cooperative Bank

17

1.6

2,616

59

15

2.0

(0.4)

ANZ Banking Group

18

1.5

2,517

27

16

2.0

(0.5)

60,000

Woori Finance Holdings Co Ltd

19

1.5

2,441

13

43

0.6

0.9

55,000

United Overseas Bank

20

1.4
100%

2,333
165,663

28
21
623 228,344

1.1

0.3

50,000

TOTAL

10.48%
20.46%
28.15%
20.29%
12.79%
7.83%
100.00%

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

220

65,000

200
180
160

45,000

100%

140

40,000

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

120

35,000

100

30,000

80

25,000

60

20
0

9
20 Q1
09
20 Q2
09
20 Q3
09
20 Q4
10
20 Q1
10
20 Q2
10
20 Q3
10
20 Q4
11
20 Q1
11
20 Q2
11
20 Q3
11
20 Q4
12
20 Q1
12
20 Q2
12
20 Q3
12
Q
4

20,000

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Bloomberg League Criteria


Credit is based on the total amount of the offering sold to the public. Full credit is awarded to sole book-running manager or split equally among joint
book-running managers. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/inc.
Fixed Income
All transaction must have a maturity or a call/put option of minimum 18 month. Make-whole calls, provisional calls/puts are exempt from this rule. Note:
criteria may vary for some local and/or regional tables.
U.S. dollar denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-U.S. dollar denominated
144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche.
New money portions of exchange offers will be eligible for credit.
Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations,
commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds,
variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants,
self-led under US$50 mln. Note: criteria may vary for some local and/or regional tables.
Equities- Linked
Equity-linked transactions: convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/puttable
in 12 months or longer are included. Make-whole calls, provisional calls, and provisional puts are exempt from this rule. Convertible bonds with
attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can
be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there
cannot be separate book building for the warrant and the bond.
Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in
an underlying fund or investment trust, pre-IPO convertible instruments, certain lower hierarch titles, i.e. Jr Bookrunner.
Equities
Equity market transactions: initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights
offerings. Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain
lower hierarch titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional table.
Loans
Includes executed syndicated loans transactions. Full credit is awarded to the sole bank satisfying the highest of the titles. Credit will be awarded equally
among multiple banks that share the highest agent/manager title. Credit is allocated to amended or amended and restated transactions, where each
modification is 100% at the lenders option and not as a result of events already built into the original credit agreement. Credit is awarded to following structural
changes only: 90 day or more maturity extensions, incremental basis for increased in deal size, reduction in pricing, full release of security.
Exclusions: Bilateral transactions, guaranteed deals (including but not limited to Letter of Guarantee, Performance Bond, CP Guarantee or Bank Guarantee),
deals with a maturity of less than 90 days (limit of one amended maturity per loan ,per year), cancelled or withdrawn transactions that are not executed prior to
deals cancellation or withdrawal.
Full versions of Bloombergs League Tables Standards & Guidelines can be accessed on Bloomberg Professional:
{IDOC 2016701<GO>}: Equity
{IDOC 2016703<GO>}: Fixed Income
{IDOC 2021549<GO>}: Legal Adviser Equity

{IDOC 2027097<GO>}: Equity Linked


{IDOC 2065648<GO>}: Syndicated Loans

{IDOC 2061504<GO>}: Structured Notes


{IDOC 2027014<GO>}: Legal Adviser Fixed Income

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information
herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of
securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on
the Bloomberg Professional Service.