reportbancaarmada.org/images/138_informe28_ba2016_eng_web.pdf · 2018-03-25 · north american...
TRANSCRIPT
Banks that invest
in arms
REPORTno 28
actualization of the funding of nuclear
weapons cluster bombs and of the main spanish
military industries (2011-2016)
REPORTno 28
Jordi Calvo rufangesCoordinator and Investigator
of the ldquoCentre Delagravesldquo
Research supportersmichelle Delgado vandemen
ana Fraga almoyna
Banks that invest in arms
actualization of the funding of nuclear weapons cluster bombs
and of the main spanish military industries (2011-2016)
Centre Delagraves drsquoEstudis per la Pau
Carrer Erasme de Janer 8 entresol despatx 9
08001 Barcelona
T 93 441 19 47
wwwcentredelasorg
infocentredelasorg
Centre Delagraves drsquoEstudis per la Pau (Centre Delagraves for Peace Studies) is an
independent organization dedicated to peace security defense and
armamentism analysis It combines activities of study and as of d social
mobilization about the negative effects of militarism and arms proliferation
It plays special attention to security and defense policies arms exports
financing of the military industry military budgets and expenses the
performance of the armed forces military industry military Research and
Development (RampD) and operations abroad
Authorship
Jordi Calvo Rufanges
Coordinator and Investigator of the ldquoCentre Delagravesldquo
Research supporters
Michelle Delgado Vandemen
Ana Fraga Almoyna
In collaboration with Audrey Esnault Chloeacute Meuleweater
Marta Castellnou Ainhoa Ruiacutez Santi Ibaacutentildeez i Mar Iglesias
Barcelona June 29 2016
Gaphic Design EstevaampEstecircvatildeo
Cover Photo Aerojet Rocketdynersquos PAC-3-MSE Missile
DL B-19745-2010
ISSN 2013-8032
5 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
exeCutive summary
This new report about armed financial institutions reveals the financing of 34 arms companies among which the world most relevant can be found They stand out for their controversial manufacturing of nuclear weapons with a remarking constant presence of Trident missiles recently questioned in the UK such as the North American Boeing General Dynamics Honeywell International Lockheed Martin Northrop Grumman Textron and Raytheon the Italian Finameccania the British BAE Systems Europersquos Airbus the Spaniards Indra and Navantia the Kore-an Poongsan and the French Safran and Thales
The institutions financing the arm industry can be branched in commercial andor investment banks small financial institutions managing large estates insuran-ce companies and even public bodies which show how investments in weapons are a widespread practice in the financial sector
Financial institutions identified in this report as Banca Armada have financed by 80000 million euros the arm industry resources that under the analysis of the opportunity cost have led to the diversion of significant resources to the economy of defense blocking investments in other sectors Banks insurance and investment companies have spent between 2011 and 2015 almost 5900 million euros the other banks some of the large international corporations banks have shifted to the sector of cluster weapons nuclear and some conventional over 74000 million euros
72 financial institutions operating in the country including large insurance com-panies highlight the large presence of commercial banking involved the large volume of investment in weapons and the type of weapons fundedn The main banks financing arms BBVA Santander Barclays Deutschebank ING
Banca March Bankia Banco Sabadell CaixaBank Banco Popular and Bankin-ter
n Insurance companies that finance the arms industry are Mutua Madrilentildea Mapfre Allianz Axa Aviva and AIG
n Some companies and public institutions that invest in military companies studied in this report SEPI ICO the Deposit Guarantee Fund of Credit Institu-tions and the Norwegian Pension Fund
inDex
exeCutive summary 5
summary taBles 6
1 introDuCtion 8
2 ranking oF the spanish armeD
FinanCial institutions 9
3 ranking oF the maJor Foreign 11
armeD FinanCial institutions
operating in spain 11
4 ConClusions 12
5 BiBliography 13
annex 15
1Sheets of Spanish armed banks 15
2 Sheets of main foreign armed banks that
operate in Spain 23
3 Empreses drsquoarmes financcedilades per la
banca armada 40
ELS BANCS qUE INVERTEIxEN EN ARMES Actualization of the funding of nuclear weapons cluster bombs and of the main Spanish military industries espanyoles (2011-2016) Jordi Calvo rufanges
INF O RME n 28
6 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
summary taBles
armed Bankingspanish armed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
BBVA A C C C C E E C E C C C C E C E C
Santander A E C C C C E C E C E C C E C C C C
Acciona A A
Sociedad Estatal de Participaciones Industriales
A A
Banca March A C C
Bankia A C C C
Caixabank A C A C
Banco Popular A C C
Banco Sabadell A C C C
Bankinter A C C
Instituto de Creacutedito Oficial C
Renta 4 A
Mutua Madrilentildea A
Unicaja A C
Banco Mare Nostrum (BMN) C A C
Caja Rural A C C
Grupo EDM A
Abante Asesores A
Ibercaja A C
Kutxabank A C
Liberbank A C
GVC Gaesco Group A
Banco Alcalaacute A
Gesconsult A
Mapfre A
Banco Caminos A
Privat Bank Patrimonio A
Novo Banco A
Grupo Egeria A
Ahorro Corporacioacuten A
Auriga Capital Investments A
Mercados y Gestioacuten de Valores AV
A
Gesiuris A
Trea Capital Partners A
Euroagentes Gestioacuten A
Inverseguros A
Caja de Arquitectos A
Dux Inversores A
Riva y Garciacutea A
Banco Mediolanum A
ATL Capital A
N+1 Group A
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
7 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
armed BankingForeignarmed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
Bank of America C C A E C C E C E C C E C E C E C A E C A C A E C A E C A E C A E E C C A E C A E C A E C A E C A E E C
Citi Group Bank E C E C E C C E C E C E C E C E C E C C E C E C E C C E E C C E C
JP Morgan A C A E C A C E C E C C A A C E C E C E A C E C E C A C E C C A C A E C A E C A E A C C A E
BNP PariBas A C C E C E C E C C E C A E C C E C E C C C E C E E C C E
Credit Agricole A C C C A E C A E C C C A E C E A C E C E E C A C E C C
Socieacuteteacute Geacuteneacuteral A E C C A E C E C C E C E C E C E
Barclays A C C C E C E C A C C E C C E C E E C E A C E C E C E C C E
Deutsche Bank A C A C A E C A E C A E A A C A E C A E C A A A A C A E C E C A E
HSBC C C E C E C E CE C E CE C C C C E C E C E
Lloyds Banking Group
C C C E C C C E C E E E C E C E C C
Commerzbank C C C E C E C C C C E C
Goldman Sachs A A C E C E C E C A E A A C A E C E A A E A C A E E C A E
Credit Suisse A C C A C E A C E C E E C E E
Bank of China C C C C E E C
ING C C C A
Invesco A
BPCE A E C
Black Rock A A A A A A A A A A A A A A A A A A A A A A A A
Siemens Finance Services
C C
Allianz A A A A A A A A A A A A A A A
American International Group AIG
A A A A A A A A A A A A
European Investment Bank
C
ERSTE Group C C
Norwegian Government Pension Fund
A
UBI Banca C C
AxA A A A A A A A
Aviva A A A A A
Banca Privada de Andorra A
Royal Bank of Scotland A
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
REPORTno 28
Jordi Calvo rufangesCoordinator and Investigator
of the ldquoCentre Delagravesldquo
Research supportersmichelle Delgado vandemen
ana Fraga almoyna
Banks that invest in arms
actualization of the funding of nuclear weapons cluster bombs
and of the main spanish military industries (2011-2016)
Centre Delagraves drsquoEstudis per la Pau
Carrer Erasme de Janer 8 entresol despatx 9
08001 Barcelona
T 93 441 19 47
wwwcentredelasorg
infocentredelasorg
Centre Delagraves drsquoEstudis per la Pau (Centre Delagraves for Peace Studies) is an
independent organization dedicated to peace security defense and
armamentism analysis It combines activities of study and as of d social
mobilization about the negative effects of militarism and arms proliferation
It plays special attention to security and defense policies arms exports
financing of the military industry military budgets and expenses the
performance of the armed forces military industry military Research and
Development (RampD) and operations abroad
Authorship
Jordi Calvo Rufanges
Coordinator and Investigator of the ldquoCentre Delagravesldquo
Research supporters
Michelle Delgado Vandemen
Ana Fraga Almoyna
In collaboration with Audrey Esnault Chloeacute Meuleweater
Marta Castellnou Ainhoa Ruiacutez Santi Ibaacutentildeez i Mar Iglesias
Barcelona June 29 2016
Gaphic Design EstevaampEstecircvatildeo
Cover Photo Aerojet Rocketdynersquos PAC-3-MSE Missile
DL B-19745-2010
ISSN 2013-8032
5 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
exeCutive summary
This new report about armed financial institutions reveals the financing of 34 arms companies among which the world most relevant can be found They stand out for their controversial manufacturing of nuclear weapons with a remarking constant presence of Trident missiles recently questioned in the UK such as the North American Boeing General Dynamics Honeywell International Lockheed Martin Northrop Grumman Textron and Raytheon the Italian Finameccania the British BAE Systems Europersquos Airbus the Spaniards Indra and Navantia the Kore-an Poongsan and the French Safran and Thales
The institutions financing the arm industry can be branched in commercial andor investment banks small financial institutions managing large estates insuran-ce companies and even public bodies which show how investments in weapons are a widespread practice in the financial sector
Financial institutions identified in this report as Banca Armada have financed by 80000 million euros the arm industry resources that under the analysis of the opportunity cost have led to the diversion of significant resources to the economy of defense blocking investments in other sectors Banks insurance and investment companies have spent between 2011 and 2015 almost 5900 million euros the other banks some of the large international corporations banks have shifted to the sector of cluster weapons nuclear and some conventional over 74000 million euros
72 financial institutions operating in the country including large insurance com-panies highlight the large presence of commercial banking involved the large volume of investment in weapons and the type of weapons fundedn The main banks financing arms BBVA Santander Barclays Deutschebank ING
Banca March Bankia Banco Sabadell CaixaBank Banco Popular and Bankin-ter
n Insurance companies that finance the arms industry are Mutua Madrilentildea Mapfre Allianz Axa Aviva and AIG
n Some companies and public institutions that invest in military companies studied in this report SEPI ICO the Deposit Guarantee Fund of Credit Institu-tions and the Norwegian Pension Fund
inDex
exeCutive summary 5
summary taBles 6
1 introDuCtion 8
2 ranking oF the spanish armeD
FinanCial institutions 9
3 ranking oF the maJor Foreign 11
armeD FinanCial institutions
operating in spain 11
4 ConClusions 12
5 BiBliography 13
annex 15
1Sheets of Spanish armed banks 15
2 Sheets of main foreign armed banks that
operate in Spain 23
3 Empreses drsquoarmes financcedilades per la
banca armada 40
ELS BANCS qUE INVERTEIxEN EN ARMES Actualization of the funding of nuclear weapons cluster bombs and of the main Spanish military industries espanyoles (2011-2016) Jordi Calvo rufanges
INF O RME n 28
6 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
summary taBles
armed Bankingspanish armed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
BBVA A C C C C E E C E C C C C E C E C
Santander A E C C C C E C E C E C C E C C C C
Acciona A A
Sociedad Estatal de Participaciones Industriales
A A
Banca March A C C
Bankia A C C C
Caixabank A C A C
Banco Popular A C C
Banco Sabadell A C C C
Bankinter A C C
Instituto de Creacutedito Oficial C
Renta 4 A
Mutua Madrilentildea A
Unicaja A C
Banco Mare Nostrum (BMN) C A C
Caja Rural A C C
Grupo EDM A
Abante Asesores A
Ibercaja A C
Kutxabank A C
Liberbank A C
GVC Gaesco Group A
Banco Alcalaacute A
Gesconsult A
Mapfre A
Banco Caminos A
Privat Bank Patrimonio A
Novo Banco A
Grupo Egeria A
Ahorro Corporacioacuten A
Auriga Capital Investments A
Mercados y Gestioacuten de Valores AV
A
Gesiuris A
Trea Capital Partners A
Euroagentes Gestioacuten A
Inverseguros A
Caja de Arquitectos A
Dux Inversores A
Riva y Garciacutea A
Banco Mediolanum A
ATL Capital A
N+1 Group A
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
7 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
armed BankingForeignarmed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
Bank of America C C A E C C E C E C C E C E C E C A E C A C A E C A E C A E C A E E C C A E C A E C A E C A E C A E E C
Citi Group Bank E C E C E C C E C E C E C E C E C E C C E C E C E C C E E C C E C
JP Morgan A C A E C A C E C E C C A A C E C E C E A C E C E C A C E C C A C A E C A E C A E A C C A E
BNP PariBas A C C E C E C E C C E C A E C C E C E C C C E C E E C C E
Credit Agricole A C C C A E C A E C C C A E C E A C E C E E C A C E C C
Socieacuteteacute Geacuteneacuteral A E C C A E C E C C E C E C E C E
Barclays A C C C E C E C A C C E C C E C E E C E A C E C E C E C C E
Deutsche Bank A C A C A E C A E C A E A A C A E C A E C A A A A C A E C E C A E
HSBC C C E C E C E CE C E CE C C C C E C E C E
Lloyds Banking Group
C C C E C C C E C E E E C E C E C C
Commerzbank C C C E C E C C C C E C
Goldman Sachs A A C E C E C E C A E A A C A E C E A A E A C A E E C A E
Credit Suisse A C C A C E A C E C E E C E E
Bank of China C C C C E E C
ING C C C A
Invesco A
BPCE A E C
Black Rock A A A A A A A A A A A A A A A A A A A A A A A A
Siemens Finance Services
C C
Allianz A A A A A A A A A A A A A A A
American International Group AIG
A A A A A A A A A A A A
European Investment Bank
C
ERSTE Group C C
Norwegian Government Pension Fund
A
UBI Banca C C
AxA A A A A A A A
Aviva A A A A A
Banca Privada de Andorra A
Royal Bank of Scotland A
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
Centre Delagraves drsquoEstudis per la Pau
Carrer Erasme de Janer 8 entresol despatx 9
08001 Barcelona
T 93 441 19 47
wwwcentredelasorg
infocentredelasorg
Centre Delagraves drsquoEstudis per la Pau (Centre Delagraves for Peace Studies) is an
independent organization dedicated to peace security defense and
armamentism analysis It combines activities of study and as of d social
mobilization about the negative effects of militarism and arms proliferation
It plays special attention to security and defense policies arms exports
financing of the military industry military budgets and expenses the
performance of the armed forces military industry military Research and
Development (RampD) and operations abroad
Authorship
Jordi Calvo Rufanges
Coordinator and Investigator of the ldquoCentre Delagravesldquo
Research supporters
Michelle Delgado Vandemen
Ana Fraga Almoyna
In collaboration with Audrey Esnault Chloeacute Meuleweater
Marta Castellnou Ainhoa Ruiacutez Santi Ibaacutentildeez i Mar Iglesias
Barcelona June 29 2016
Gaphic Design EstevaampEstecircvatildeo
Cover Photo Aerojet Rocketdynersquos PAC-3-MSE Missile
DL B-19745-2010
ISSN 2013-8032
5 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
exeCutive summary
This new report about armed financial institutions reveals the financing of 34 arms companies among which the world most relevant can be found They stand out for their controversial manufacturing of nuclear weapons with a remarking constant presence of Trident missiles recently questioned in the UK such as the North American Boeing General Dynamics Honeywell International Lockheed Martin Northrop Grumman Textron and Raytheon the Italian Finameccania the British BAE Systems Europersquos Airbus the Spaniards Indra and Navantia the Kore-an Poongsan and the French Safran and Thales
The institutions financing the arm industry can be branched in commercial andor investment banks small financial institutions managing large estates insuran-ce companies and even public bodies which show how investments in weapons are a widespread practice in the financial sector
Financial institutions identified in this report as Banca Armada have financed by 80000 million euros the arm industry resources that under the analysis of the opportunity cost have led to the diversion of significant resources to the economy of defense blocking investments in other sectors Banks insurance and investment companies have spent between 2011 and 2015 almost 5900 million euros the other banks some of the large international corporations banks have shifted to the sector of cluster weapons nuclear and some conventional over 74000 million euros
72 financial institutions operating in the country including large insurance com-panies highlight the large presence of commercial banking involved the large volume of investment in weapons and the type of weapons fundedn The main banks financing arms BBVA Santander Barclays Deutschebank ING
Banca March Bankia Banco Sabadell CaixaBank Banco Popular and Bankin-ter
n Insurance companies that finance the arms industry are Mutua Madrilentildea Mapfre Allianz Axa Aviva and AIG
n Some companies and public institutions that invest in military companies studied in this report SEPI ICO the Deposit Guarantee Fund of Credit Institu-tions and the Norwegian Pension Fund
inDex
exeCutive summary 5
summary taBles 6
1 introDuCtion 8
2 ranking oF the spanish armeD
FinanCial institutions 9
3 ranking oF the maJor Foreign 11
armeD FinanCial institutions
operating in spain 11
4 ConClusions 12
5 BiBliography 13
annex 15
1Sheets of Spanish armed banks 15
2 Sheets of main foreign armed banks that
operate in Spain 23
3 Empreses drsquoarmes financcedilades per la
banca armada 40
ELS BANCS qUE INVERTEIxEN EN ARMES Actualization of the funding of nuclear weapons cluster bombs and of the main Spanish military industries espanyoles (2011-2016) Jordi Calvo rufanges
INF O RME n 28
6 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
summary taBles
armed Bankingspanish armed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
BBVA A C C C C E E C E C C C C E C E C
Santander A E C C C C E C E C E C C E C C C C
Acciona A A
Sociedad Estatal de Participaciones Industriales
A A
Banca March A C C
Bankia A C C C
Caixabank A C A C
Banco Popular A C C
Banco Sabadell A C C C
Bankinter A C C
Instituto de Creacutedito Oficial C
Renta 4 A
Mutua Madrilentildea A
Unicaja A C
Banco Mare Nostrum (BMN) C A C
Caja Rural A C C
Grupo EDM A
Abante Asesores A
Ibercaja A C
Kutxabank A C
Liberbank A C
GVC Gaesco Group A
Banco Alcalaacute A
Gesconsult A
Mapfre A
Banco Caminos A
Privat Bank Patrimonio A
Novo Banco A
Grupo Egeria A
Ahorro Corporacioacuten A
Auriga Capital Investments A
Mercados y Gestioacuten de Valores AV
A
Gesiuris A
Trea Capital Partners A
Euroagentes Gestioacuten A
Inverseguros A
Caja de Arquitectos A
Dux Inversores A
Riva y Garciacutea A
Banco Mediolanum A
ATL Capital A
N+1 Group A
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
7 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
armed BankingForeignarmed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
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og
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inee
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g
Boei
ng
loCk
hee
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art
in
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ita
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k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
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a
Chin
a a
ereo
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ien
Ce amp
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ust
ry
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Flu
or
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ing
all
s in
Du
stri
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ha
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Co (C
hin
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gen
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gen
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ilit
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olD
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en amp
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BeCh
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ho
ney
Wel
l in
tern
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na
l
Bank of America C C A E C C E C E C C E C E C E C A E C A C A E C A E C A E C A E E C C A E C A E C A E C A E C A E E C
Citi Group Bank E C E C E C C E C E C E C E C E C E C C E C E C E C C E E C C E C
JP Morgan A C A E C A C E C E C C A A C E C E C E A C E C E C A C E C C A C A E C A E C A E A C C A E
BNP PariBas A C C E C E C E C C E C A E C C E C E C C C E C E E C C E
Credit Agricole A C C C A E C A E C C C A E C E A C E C E E C A C E C C
Socieacuteteacute Geacuteneacuteral A E C C A E C E C C E C E C E C E
Barclays A C C C E C E C A C C E C C E C E E C E A C E C E C E C C E
Deutsche Bank A C A C A E C A E C A E A A C A E C A E C A A A A C A E C E C A E
HSBC C C E C E C E CE C E CE C C C C E C E C E
Lloyds Banking Group
C C C E C C C E C E E E C E C E C C
Commerzbank C C C E C E C C C C E C
Goldman Sachs A A C E C E C E C A E A A C A E C E A A E A C A E E C A E
Credit Suisse A C C A C E A C E C E E C E E
Bank of China C C C C E E C
ING C C C A
Invesco A
BPCE A E C
Black Rock A A A A A A A A A A A A A A A A A A A A A A A A
Siemens Finance Services
C C
Allianz A A A A A A A A A A A A A A A
American International Group AIG
A A A A A A A A A A A A
European Investment Bank
C
ERSTE Group C C
Norwegian Government Pension Fund
A
UBI Banca C C
AxA A A A A A A A
Aviva A A A A A
Banca Privada de Andorra A
Royal Bank of Scotland A
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
5 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
exeCutive summary
This new report about armed financial institutions reveals the financing of 34 arms companies among which the world most relevant can be found They stand out for their controversial manufacturing of nuclear weapons with a remarking constant presence of Trident missiles recently questioned in the UK such as the North American Boeing General Dynamics Honeywell International Lockheed Martin Northrop Grumman Textron and Raytheon the Italian Finameccania the British BAE Systems Europersquos Airbus the Spaniards Indra and Navantia the Kore-an Poongsan and the French Safran and Thales
The institutions financing the arm industry can be branched in commercial andor investment banks small financial institutions managing large estates insuran-ce companies and even public bodies which show how investments in weapons are a widespread practice in the financial sector
Financial institutions identified in this report as Banca Armada have financed by 80000 million euros the arm industry resources that under the analysis of the opportunity cost have led to the diversion of significant resources to the economy of defense blocking investments in other sectors Banks insurance and investment companies have spent between 2011 and 2015 almost 5900 million euros the other banks some of the large international corporations banks have shifted to the sector of cluster weapons nuclear and some conventional over 74000 million euros
72 financial institutions operating in the country including large insurance com-panies highlight the large presence of commercial banking involved the large volume of investment in weapons and the type of weapons fundedn The main banks financing arms BBVA Santander Barclays Deutschebank ING
Banca March Bankia Banco Sabadell CaixaBank Banco Popular and Bankin-ter
n Insurance companies that finance the arms industry are Mutua Madrilentildea Mapfre Allianz Axa Aviva and AIG
n Some companies and public institutions that invest in military companies studied in this report SEPI ICO the Deposit Guarantee Fund of Credit Institu-tions and the Norwegian Pension Fund
inDex
exeCutive summary 5
summary taBles 6
1 introDuCtion 8
2 ranking oF the spanish armeD
FinanCial institutions 9
3 ranking oF the maJor Foreign 11
armeD FinanCial institutions
operating in spain 11
4 ConClusions 12
5 BiBliography 13
annex 15
1Sheets of Spanish armed banks 15
2 Sheets of main foreign armed banks that
operate in Spain 23
3 Empreses drsquoarmes financcedilades per la
banca armada 40
ELS BANCS qUE INVERTEIxEN EN ARMES Actualization of the funding of nuclear weapons cluster bombs and of the main Spanish military industries espanyoles (2011-2016) Jordi Calvo rufanges
INF O RME n 28
6 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
summary taBles
armed Bankingspanish armed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
BBVA A C C C C E E C E C C C C E C E C
Santander A E C C C C E C E C E C C E C C C C
Acciona A A
Sociedad Estatal de Participaciones Industriales
A A
Banca March A C C
Bankia A C C C
Caixabank A C A C
Banco Popular A C C
Banco Sabadell A C C C
Bankinter A C C
Instituto de Creacutedito Oficial C
Renta 4 A
Mutua Madrilentildea A
Unicaja A C
Banco Mare Nostrum (BMN) C A C
Caja Rural A C C
Grupo EDM A
Abante Asesores A
Ibercaja A C
Kutxabank A C
Liberbank A C
GVC Gaesco Group A
Banco Alcalaacute A
Gesconsult A
Mapfre A
Banco Caminos A
Privat Bank Patrimonio A
Novo Banco A
Grupo Egeria A
Ahorro Corporacioacuten A
Auriga Capital Investments A
Mercados y Gestioacuten de Valores AV
A
Gesiuris A
Trea Capital Partners A
Euroagentes Gestioacuten A
Inverseguros A
Caja de Arquitectos A
Dux Inversores A
Riva y Garciacutea A
Banco Mediolanum A
ATL Capital A
N+1 Group A
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
7 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
armed BankingForeignarmed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
Bank of America C C A E C C E C E C C E C E C E C A E C A C A E C A E C A E C A E E C C A E C A E C A E C A E C A E E C
Citi Group Bank E C E C E C C E C E C E C E C E C E C C E C E C E C C E E C C E C
JP Morgan A C A E C A C E C E C C A A C E C E C E A C E C E C A C E C C A C A E C A E C A E A C C A E
BNP PariBas A C C E C E C E C C E C A E C C E C E C C C E C E E C C E
Credit Agricole A C C C A E C A E C C C A E C E A C E C E E C A C E C C
Socieacuteteacute Geacuteneacuteral A E C C A E C E C C E C E C E C E
Barclays A C C C E C E C A C C E C C E C E E C E A C E C E C E C C E
Deutsche Bank A C A C A E C A E C A E A A C A E C A E C A A A A C A E C E C A E
HSBC C C E C E C E CE C E CE C C C C E C E C E
Lloyds Banking Group
C C C E C C C E C E E E C E C E C C
Commerzbank C C C E C E C C C C E C
Goldman Sachs A A C E C E C E C A E A A C A E C E A A E A C A E E C A E
Credit Suisse A C C A C E A C E C E E C E E
Bank of China C C C C E E C
ING C C C A
Invesco A
BPCE A E C
Black Rock A A A A A A A A A A A A A A A A A A A A A A A A
Siemens Finance Services
C C
Allianz A A A A A A A A A A A A A A A
American International Group AIG
A A A A A A A A A A A A
European Investment Bank
C
ERSTE Group C C
Norwegian Government Pension Fund
A
UBI Banca C C
AxA A A A A A A A
Aviva A A A A A
Banca Privada de Andorra A
Royal Bank of Scotland A
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
6 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
summary taBles
armed Bankingspanish armed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
BBVA A C C C C E E C E C C C C E C E C
Santander A E C C C C E C E C E C C E C C C C
Acciona A A
Sociedad Estatal de Participaciones Industriales
A A
Banca March A C C
Bankia A C C C
Caixabank A C A C
Banco Popular A C C
Banco Sabadell A C C C
Bankinter A C C
Instituto de Creacutedito Oficial C
Renta 4 A
Mutua Madrilentildea A
Unicaja A C
Banco Mare Nostrum (BMN) C A C
Caja Rural A C C
Grupo EDM A
Abante Asesores A
Ibercaja A C
Kutxabank A C
Liberbank A C
GVC Gaesco Group A
Banco Alcalaacute A
Gesconsult A
Mapfre A
Banco Caminos A
Privat Bank Patrimonio A
Novo Banco A
Grupo Egeria A
Ahorro Corporacioacuten A
Auriga Capital Investments A
Mercados y Gestioacuten de Valores AV
A
Gesiuris A
Trea Capital Partners A
Euroagentes Gestioacuten A
Inverseguros A
Caja de Arquitectos A
Dux Inversores A
Riva y Garciacutea A
Banco Mediolanum A
ATL Capital A
N+1 Group A
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
7 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
armed BankingForeignarmed Banks in
Dra
ma
xam
nav
an
tia
oes
ia
sen
er
aeC
om
aer
oJe
t ro
Cket
Dyn
e
air
Bus
gro
up
Fin
meC
Can
iCa
BaBC
oCk
ampW
ilCo
x
Bae
syst
ems
th
ale
s
text
ron
serC
o
mo
og
JaCo
Bs e
ng
inee
rin
g
Boei
ng
loCk
hee
D m
art
in
orB
ita
l at
k
poo
ng
san
ray
theo
n
saFr
an
sen
er F
inm
eCCa
niC
a
Chin
a a
ereo
spaC
e sC
ien
Ce amp
inD
ust
ry
Ch2m
Flu
or
hu
nti
ng
ton
ing
all
s in
Du
stri
es
ha
nW
ha
no
rin
Co (C
hin
a)
gen
era
l D
yna
miC
s
gen
era
l D
yna
miC
s
no
rth
rop
gru
mm
an
(u
s)
eng
ilit
y h
olD
ing
s
lars
en amp
to
uBr
o
BeCh
tel
ho
ney
Wel
l in
tern
atio
na
l
Bank of America C C A E C C E C E C C E C E C E C A E C A C A E C A E C A E C A E E C C A E C A E C A E C A E C A E E C
Citi Group Bank E C E C E C C E C E C E C E C E C E C C E C E C E C C E E C C E C
JP Morgan A C A E C A C E C E C C A A C E C E C E A C E C E C A C E C C A C A E C A E C A E A C C A E
BNP PariBas A C C E C E C E C C E C A E C C E C E C C C E C E E C C E
Credit Agricole A C C C A E C A E C C C A E C E A C E C E E C A C E C C
Socieacuteteacute Geacuteneacuteral A E C C A E C E C C E C E C E C E
Barclays A C C C E C E C A C C E C C E C E E C E A C E C E C E C C E
Deutsche Bank A C A C A E C A E C A E A A C A E C A E C A A A A C A E C E C A E
HSBC C C E C E C E CE C E CE C C C C E C E C E
Lloyds Banking Group
C C C E C C C E C E E E C E C E C C
Commerzbank C C C E C E C C C C E C
Goldman Sachs A A C E C E C E C A E A A C A E C E A A E A C A E E C A E
Credit Suisse A C C A C E A C E C E E C E E
Bank of China C C C C E E C
ING C C C A
Invesco A
BPCE A E C
Black Rock A A A A A A A A A A A A A A A A A A A A A A A A
Siemens Finance Services
C C
Allianz A A A A A A A A A A A A A A A
American International Group AIG
A A A A A A A A A A A A
European Investment Bank
C
ERSTE Group C C
Norwegian Government Pension Fund
A
UBI Banca C C
AxA A A A A A A A
Aviva A A A A A
Banca Privada de Andorra A
Royal Bank of Scotland A
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
7 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
A=Bondholding and shareholding of arms companies C=Loans E=Underwriting of share and bond issuances
armed BankingForeignarmed Banks in
Dra
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xam
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an
tia
oes
ia
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er
aeC
om
aer
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t ro
Cket
Dyn
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air
Bus
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up
Fin
meC
Can
iCa
BaBC
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Bae
syst
ems
th
ale
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text
ron
serC
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JaCo
Bs e
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inee
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art
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ng
san
ray
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saFr
an
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er F
inm
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Chin
a a
ereo
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ien
Ce amp
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ust
ry
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Flu
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nti
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ing
all
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Du
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Co (C
hin
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gen
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olD
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en amp
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BeCh
tel
ho
ney
Wel
l in
tern
atio
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l
Bank of America C C A E C C E C E C C E C E C E C A E C A C A E C A E C A E C A E E C C A E C A E C A E C A E C A E E C
Citi Group Bank E C E C E C C E C E C E C E C E C E C C E C E C E C C E E C C E C
JP Morgan A C A E C A C E C E C C A A C E C E C E A C E C E C A C E C C A C A E C A E C A E A C C A E
BNP PariBas A C C E C E C E C C E C A E C C E C E C C C E C E E C C E
Credit Agricole A C C C A E C A E C C C A E C E A C E C E E C A C E C C
Socieacuteteacute Geacuteneacuteral A E C C A E C E C C E C E C E C E
Barclays A C C C E C E C A C C E C C E C E E C E A C E C E C E C C E
Deutsche Bank A C A C A E C A E C A E A A C A E C A E C A A A A C A E C E C A E
HSBC C C E C E C E CE C E CE C C C C E C E C E
Lloyds Banking Group
C C C E C C C E C E E E C E C E C C
Commerzbank C C C E C E C C C C E C
Goldman Sachs A A C E C E C E C A E A A C A E C E A A E A C A E E C A E
Credit Suisse A C C A C E A C E C E E C E E
Bank of China C C C C E E C
ING C C C A
Invesco A
BPCE A E C
Black Rock A A A A A A A A A A A A A A A A A A A A A A A A
Siemens Finance Services
C C
Allianz A A A A A A A A A A A A A A A
American International Group AIG
A A A A A A A A A A A A
European Investment Bank
C
ERSTE Group C C
Norwegian Government Pension Fund
A
UBI Banca C C
AxA A A A A A A A
Aviva A A A A A
Banca Privada de Andorra A
Royal Bank of Scotland A
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
8 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
1 introDuCtion
This report aims to update the analysis begun in the Delagraves Center for Peace Studies in 2007 on financing the arms sector showing its role in the weapons business It should first high-light the importance of the financing of the arms companies to enable their production in fact as we advanced in the first reports of armed banks the debt ratio of Spanish weaponry companies is a 73 on average similar to the Spanish indus-try overall value This is translated into three-quarters of arms produced due to banking Thus it is not unreasonable to say that three out of four weapons would not exist if there wasnacutet for the support of the banks and insurers to the worldwide arm industry
It is a new report following the previous publications Re-port ldquoArmed bank Explosive Investments of banks and sav-ings banksrdquo (2012) investments that are the bomb Banking business with Spanish armament companies (2012) Armed Bank vs Ethics Bank (2013) and Evolution of the armed bank in Spain How to reduce the financing of arms companies (2013) Based on the report of primary data from Deep Re-search conducted at the request of Delagraves Center Financing of the weapon companies in Spain a research paper prepared for the Delagraves Center by Hassel Kroes of December 22 2015 in which there were sought financial relations of some of the major Spanish weapon companies selected for this report because of their relevance and controversy Indra Maxam Navantia Oesia Sener Instalaza Nammo Sapa Placencia and Uro (Uro Special Vehicles)
It has also taken into account the updated data reports Worldwide investments in Cluster Munitions a shared respon-sibility and Do not bank on the bomb published by Pax as part of their campaigns of disarmament and finance tracking of controversial weapons such as cluster bombs and nuclear weapons Of the arms companies are taken into account only arms manufacturers but will be used throughout the report the military industry terminology as the arms companies are PMCs par excellence These reports show the result of the consultation of the results based on Thomson and Bloomberg data Another source of information of great importance have been reports and websites of the analyzed arms companies and of the financial institutions themselves Tracking existing news of the specialized press has supplemented a lot of the information
Thus in this report all current data on financing of weap-ons that have been accessed to try to show a new picture of a situation that is not as important the specific volume of each financial institution but the enormous focus volume
and diversity of banks savings banks credit unions and insur-ance companies in one way or another devote part of their activity to help the production of weapons whether more controversial as nuclear or cluster bombs or in the case of conventional weaponry shown as a sample of the Spanish military industry
The analysis was carried out on the following financial prod-ucts loans and loans closed from January 1 2011 the issue of shares and bonds also since the January 1 2011 and the participation that the mentioned banks and other financial institutions have in the mentioned military industries through stocks bonds and investment funds generally shown by their most recent date Unlike previous reports there have not been included data on arms exports as the only public data are referred only to the Italian arms exports
The analysis data have been divided between the financial in-stitutions that are exclusively Spanish and the relevant foreign ones operating in Spain with the aim of showing the data in a form more easily comparable between different banks scope In addition it will be broken information relevant to the cor-responding insurers that in order to give visibility to the fact that the insurance companies also fund the military industry and demonstrate its responsibility when investing the huge resources managed from the quotas of their customers
This report consists of two main chapters based on a sum-mary of the numerical data related to investments in weapons of the sample identified here Thus there is shown the ranking of the Spanish armed banks to remember the order per val-ue of investments in weapons in which the Spanish financial institutions are following this analysis The first banks in the ranking are those who will have as well a greater connec-tion with the arms industry The following there is offered the international ranking of the armed bank in which the main foreign companies operating in Spain having made an extra effort in relation to previous reports inclusion of a greater diversity of financial institutions are included So the interest of an international audience for this report is increased and also that part of the public that chooses banks from other countries is covered
Then to facilitate the search for detailed information on each financial institution there are included comprehensive an-nexes with the tabs in the Spanish armed banks the records of the main international armed banks in Spain and a brief explanation of armaments companies funded by Spanish banks In relation to the period of analysis the data obtained are mostly immediately prior to the publication year of this report particularly from 2011 to 2015 including some data from early 2016
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
9 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 ranking oF the spanish armeD FinanCial institutions
The Spanish armed banking is still led by BBVA and Santander which are the financial institutions that have dedicated in the latter period as it occurred in the past the most resources to support arms companies than all the rest of the Spanish financial institutions being ones of the largest investors in the arms industry in the world as we will see in the chapter dedicated to the foreign banks most relevant in their invest-ments in weapons and greater presence in the territory
It also highlights the role of SEPI a public company that has a major stake in Indra after having acquired Bankia as a meas-ure to support the company that recently went through an economic crisis In addition the SEPI has a 100 ownership of the Spainacutes largest war ship company Navantia It emphasizes the role of Acciona dedicated mostly to non-financial activi-ties but in our share is in fourth place in the new ranking of the Spanish armed banks It is also important the role of the major financial institutions that have as clients some of the most controversial Spanish arms companies such as Maxam Banca March CaixaBank Bankia Banco Popular Sabadell and Bankinter In the annex there can be seen the detail of the investments of each bank Also one can check that Maxam despite his controversial record of producing bombs and ammunition were later banned for its great humanitarian impact or for providing explosive or hunting material to places in armed conflict is a company that has received the favor of many Spanish banks besides those mentioned BBVA Santander Sabadell BMN Caja Rural and Unicaja and even the Official Credit Institute
The other banks are either former savings banks or credit unions of minor or small investment firms whose clients are large capitals It is noteworthy that many of these banks and of the large ones keep permanent investments in Indra a Spanish company of technology that in addition to its civil-ian production devotes between 10 and 20 to the defense sector In fact it is usually considered by the SIPRI itself as one of the top 100 military industries in the world
table 1 ranking of the armed spanish financial institutions 2011-2016
Financial Institution Value
BBVA 274612195461 euro
Santander 151830434755 euro
Acciona 37195080422 euro
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Banca March 22348906111 euro
Bankia 18091924650 euro
Caixabank 8752563560 euro
Banco Popular 8291838044 euro
BancoSabadell 5155146300 euro
Bankinter 4859780081 euro
Instituto de Creacutedito Oficial 4827299430 euro
Renta 4 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Unicaja 1964635785 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Caja Rural 1647220834 euro
Grupo EDM 594864039 euro
Abante Asesores 485662163 euro
Ibercaja 289610325 euro
Kutxabank 273385019 euro
Liberbank 238195277 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Ahorro Corporacioacuten 38864360 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconocido
Total 5 871 611 21468 euro
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
10 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
table 2 Bondholding and shareholding of arms companies 2011-2016
Financial institution Value
Sociedad Estatal de Participaciones Industriales 36819345982 euro
Acciona 37195080422 euro
Banca March 20753916337 euro
Renta 4 Banco 3514494310 euro
Mutua Madrilentildea 2404477172 euro
Santander 1734532606 euro
Caixabank 793801616 euro
Grupo EDM 594864039 euro
BBVA 591519650 euro
Bankia 561668571 euro
Abante Asesores 485662163 euro
BancoSabadell 473693293 euro
Bankinter 306206683 euro
GVC Gaesco Group 205923339 euro
Banco Alcalaacute 200074427 euro
Gesconsult 197376763 euro
Liberbank 160933189 euro
Mapfre 124303621 euro
Banco Caminos 98857874 euro
Privat Bank Patrimonio 94682280 euro
Banco Popular 83458550 euro
Novo Banco 80636499 euro
Grupo Egeria 77638505 euro
Caja Rural 69708443 euro
Unicaja 50706070 euro
Kutxabank 46532939 euro
Ahorro Corporacioacuten 38864360 euro
Ibercaja 26846906 euro
Auriga Capital Investments 25787765 euro
Mercados y Gestioacuten de Valores AV 24603752 euro
Gesiuris 22088701 euro
Trea Capital Partners 20261815 euro
Euroagentes Gestioacuten 12028501 euro
Inverseguros 12028501 euro
Caja de Arquitectos 9841501 euro
Dux Inversores 8748001 euro
Riva y Garciacutea 6014250 euro
Banco Mediolanum 5633369 euro
ATL Capital 4708109 euro
N+1 Group 3748436 euro
Fondo de Garantiacutea de Depoacutesitos de Entidades de Creacutedito
desconegut
Banco Mare Nostrum (BMN) desconegut
Total 1 079 412 99310 euro
table 3 loans to arm companies by spanish financial institutions 2011-2016
Financial institution Value
BBVA 243629147971 euro
Santander 128717284076 euro
Bankia 17530256079 euro
Banco Popular 8208379494 euro
Caixabank 7958761943 euro
Instituto de Creacutedito Oficial 4827299430 euro
Banco Sabadell 4681453007 euro
Bankinter 4553573397 euro
Unicaja 1913929715 euro
Banco Mare Nostrum (BMN) 1690211380 euro
Grupo March 1594989774 euro
Caja Rural 1577512391 euro
Ibercaja 262763419 euro
Kutxabank 226852080 euro
Liberbank 77262088 euro
Total 4 274 496 76244 euro
table 4 underwriting of share and bond issuances to arm companies 2011-2016
Financial institution Value
BBVA 30391527840 euro
Santander 21378618073 euro
Total 517 701 45913 euro
Briefly there are 19 banks and commercial banks that keep an important support to the arms industry in the following order of importance BBva santander Banca march Ban-kia CaixaBank Banco popular Banco sabadell Bankinter unicaja Banco mare nostrum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum sepi iCo and the Fund Deposit guarantee Credit institutions In addition three insurance companies with investments in weapons are to be analyzed in detail in another chapter mutua madrilentildea mapfre and inverseguros Finally there are 19 small or large investment institutions of high income customers which form a total of 44 financial institutions of Spanish origin that make up the current Spanish Armed Banking
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
11 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 ranking oF the maJor Foreign armeD FinanCial institutions operating in spain
This report involves some of the largest foreign companies installed in Spain led by the us Bank of america Citi group and Jp morgan with investments in weapons that exceed 10000 million euros Then highlights the role Bank of Chi-na (iCBC) which is among the five largest banks by market capitalization worldwide and among the largest funders of both conventional weapons - such as cluster munitions and nuclear weapons Or the major French banks Bnp Credit ag-ricole and socieacuteteacute geacuteneacuterale with investments in weapons identified over 4000 million euros Then there are financial institutions in UK (hsBC Barclays lloyds) German (Deut-sche Bank) or Swiss (Credit suisse) which have more than significant investments in the arms industry besides the fa-mous goldman sachs If we stick to investments in weapons alongside these banks we could put the two giants of Spanish banks BBva and santander as they are holders of invest-ment in arms of similar amounts It is notable that ing and even the Banca privada drsquoandorra appear in the ranking of investors in arms With regard to the insurance companies two global giants allianz aig axa and aviva invest their insured customersacute deposits into arms companies We have to highlight that this study does not include all financial in-stitutions because the public availability of data is limited therefore only those companies that play a more active role in the Armed Bank in the Spanish State are mentioned
table 5 ranking of the armed foreign financial institutions 2011-2016
Financial institution Value
Bank of America 12881730543 euro
Citi Group Bank 12387565600 euro
JP Morgan 12308487438 euro
BNP PariBas 7112803481 euro
Creacutedit Agricole 4634369226 euro
Socieacuteteacute Geacuteneacuteral 4396446051 euro
Barclays 4186402917 euro
Deutsche Bank 3922343145 euro
HSBC 3857962547 euro
Lloyds Banking Group 1697973412 euro
Commerzbank 1679209926 euro
Goldman Sachs 1549993933 euro
Creacutedit Suisse 1175040006 euro
Bank of China (ICBC) 675633194 euro
ING 388897756 euro
Invesco 345874360 euro
BPCE 219440035 euro
Black Rock 143495680 euro
Siemens Finance Services 136662552 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
Norwegian Government Pension Fund 128608113 euro
UBI Banca 19840412 euro
AxA 13900221 euro
Aviva 8718396 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland desconegut
Total 74 129 012 530 euro
table 6 Bondholding and shareholding of arms companies from foreign financial institutions 2011-2016
Financial Institution Value
Invesco 345874360 euro
Blackrock 143495680 euro
Allianz 108493290 euro
American International Group AIG 58494947 euro
JP Morgan 35009234 euro
BPCE 31245749 euro
Deutsche Bank 18139521 euro
Goldman Sachs 15361883 euro
ING 15184728 euro
Bank of America 15083496 euro
AxA 13900221 euro
Norwegian Government Pension Fund 34245189 euro
Creacutedit Agricole 11800914 euro
BNP PariBas 10906196 euro
Barclays 10207287 euro
Aviva 8718396 euro
Socieacuteteacute Geacuteneacuteral 7871849 euro
Creacutedit Suisse 7503142 euro
Banca Privada de Andorra 1129007 euro
Royal Bank of Scotland 502856 euro
Total 893 167 945 euro
table 7 loans to arms companies by foreign financial institutions 2011-2016
Financial institution Value
JP Morgan 10213416772 euro
Citi Group Bank 9827049804 euro
Bank of America 7521918049 euro
BNP PariBas 6132942920 euro
Creacutedit Agricole 3530533290 euro
Barclays 3303917366 euro
HSBC 3149341907 euro
Deutsche Bank 2856457392 euro
Socieacuteteacute Geacuteneacuteral 1809088779 euro
Commerzbank 1475903290 euro
Goldman Sachs 1419772068 euro
Lloyds Banking Group 1255929108 euro
Creacutedit Suisse 649568920 euro
ING 373713028 euro
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
12 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of China (ICBC) 353379522 euro
Siemens Finance Services 136662552 euro
European Investment Bank 49946000 euro
ERSTE Group 39550343 euro
BPCE 27256922 euro
UBI Banca 19840412 euro
Total 54 146 188 444 euro
table 8 issuance of bonds and commercial papers of arms companies in foreign banks from 2011 to 2016
Financial institution Valor
Bank of America 5344728997 euro
Socieacuteteacute Geacuteneacuteral 2579485423 euro
Citi Group Bank 2560515796 euro
JP Morgan 2060061432 euro
Creacutedit Agricole 1092035022 euro
Deutsche Bank 1047746232 euro
BNP PariBas 968954366 euro
Barclays 872278264 euro
HSBC 708620640 euro
Creacutedit Suisse 517967944 euro
Lloyds Banking Group 442044304 euro
Bank of China (ICBC) 322253672 euro
Commerzbank 203306636 euro
BPCE 160937363 euro
Goldman Sachs 114859982 euro
Total 18 995 796 073 euro
Thus we can see there are at least 29 financial institutions engaged in both commercial banking and the investment and insurance of foreign origin operating in the Spanish State have significant investments in weapons These include large commercial banks insurance companies of a significant in-ternational business and even the Norwegian Pension Fund known by the restrictions it self-imposes through an ethics committee for not to invest in some of the most controver-sial weaponry companies however as we can see it should include some more in the list
4 ConClusions
In this new report on the financing of arms companies there have been identified only what concerns to some of the ma-jor Spanish military companies and global manufacturers of nuclear weapons and cluster munitions at least 80000 million euros that have been diverted from non-military economy to the defense industry directly related to armaments about 6000 million are exclusively managed by the State banks and the rest by major foreign banks internationally
This result may have two readings one of a political nature by which we find that the flourishing arms trade not only benefits the arms companies but also banks and insurance companies And the other related to the economic concept of opportunity cost with the issue that the resources are scarce and the economy has the function to manage them and de-cide what is to be invested and what investments shall be stopped ie when investing in arms the money is left in some other area (education health ) but also the fact that invest-ing in weapons makes the products useless and in the case of being used they cause destruction and death which is not positive for the advancement of a sustainable economy In both cases the relationship with ethical banking is evident as this ensures that you cannot do business with companies that do not pass an ethical filter such as arms companies But the ethical banking also aims to build an alternative to the current economic model in which the economy is at service of the people and is aimed to find a sustainable model that ensures a decent standard of living and ethics to the future generations
On the other hand this report shows the continuing trend of the financial institutions to invest in arms companies in general without achieving a significant reduction in their in-vestments in any of its self-regulations of investment in the defense sector Beyond a particular case that any disinvest-ment by large banks and small arms companies appeared in the reports of the Armed Bank may have produced there are no known transparent and honest measures to eliminate the weapons business of financial institutions With the exception of this ethical banking mentioned above
Again we identify among the most popular financial institu-tions in Spain BBva santander Deustsche Bank Citibank and ing as the major funders of weapons followed in a sec-ond level of importance of the investment by Banca march Bankia CaixaBank Banco popular Banco sabadell and Bankinter Not forgetting that unicaja Banco mare nos-trum (Bmn) Caja rural ibercaja kutxabank liberbank Banco alcalaacute Banco Caminos Caja de arquitectos and Banco mediolanum invest in weapons although in smaller amounts
To elaborate further insurance companyrsquos investments shall be analyzed in depth In this report we identify five major in-surance companies that invest in weapons mutua madrilentildea mapfre allianz axa aviva and aig in addition to Inverseg-uros that channels investments from several insurance com-panies (see details in the Annex sheets)
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
13 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
5 BiBliography
BOER ROOS y ESTHER VANDENBROUCKE (2010) ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi y Netwerk Vlaanderen Brussels
BOER ROOS y ESTHER VANDENBROUCKE (2011)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and Netwerk Vlaanderen Brussels
BOER ROOS and others (2012)ldquoWorldwide Investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi and FairFin The Netherlands
BOER ROOS and others (2016)ldquoWorldwide investments in Cluster Munitions a shared responsabilityrdquo IKV Pax Christi The Netherlands
BOUWERS RODERICK and others (2011)ldquoNegocios sucios Los Bancos espantildeoles que financian a productores de armasrdquo Setem
CALVO RUFANGES JORDI (2012) ldquoLa banca armada Inversiones explosivas de bancos y cajasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem11 Barcelona
CALVO RUFANGES JORDI y otras (2012) ldquoInversiones que son la bombaNegocios de la banca armada con empresas espantildeolasrdquo Centro de Estudios por la paz JM Degravelas Barcelona
CALVO RUFANGES JORDI (2013) ldquoBanca armada vs Banca eacuteticardquo Editorial Dharana
CALVO RUFANGES JORDI and others (2013)ldquoEvolucioacuten de la banca armada espantildeola iquestCoacutemo reducir la financiacioacuten de las empresas de armasrdquo Centro de Estudios por la paz JM Degravelas Informe nuacutem 20 Barcelona
GELDER JA WILLEM VAN and PETRA SPAARGAREN (2012) ldquoGerman Banks involved in the export of tanks to Saudi Arabiardquo Profundo Economic Research Amsterdam
INEZ LOUWAGIE LUC WEYN and MATHIAS BIESTMAN (2005) ldquoWhere do you draw the line Research into the financial links between five bank groups and the companies that abuse human rightsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2004)ldquoCluster Bombs Landmines Nuclear Weapons and Depleted Uranium Weapons A Report on the Financial Links between Banks and the Producers of Controversial Weapon Systemsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2006)ldquoExplosive Portfolios- Bank Groups and Cluster Munitionsrdquo Netwerk Vlaanderen Brussels
SCHEIRE CHRISTOPHE (2007)ldquoExplosive Investments Financial Institutions and Cluster Munitionsrdquo Netwerk Vlaanderen
SNYDER SUSI and WILBERT VAN DER ZEIJDEN (2013) ldquoDonrsquot Bank on the Bomb a Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi ICAN Profundo
SNYDER SUSI and others (2015) ldquoDonrsquot Bank on the Bomb A Global Report on the Financing of Nuclear Weapons Producersrdquo IKV Pax Christi The Netherlands
WILLEM VAN GELDER JAN and others (2012) ldquoDonrsquot Bank on the Bomb the Global Financing of Nuclear Weapons Producersrdquo Profundo
online sources
Comisioacuten Nacional del Mercado de Valores CNMV Consultas a Registros O ciales de Emisores httpwwwcnmvesportalMenuRegistros-O ciales- Emisoresaspx last view 28062016
Official homepage Aecom (USA) available at httpwwwaecomcom last view 28062016
Official homepage Aerojet Rocketdyne (USA) available at httpwwwrocketcom last view 28062016
Official homepage Airbus Group (The Netherlands) available at httpwwwairbuscomes last view 28062016
Official homepage Babcock amp Wilcox (USA) last view httpwwwbabcockcomPagesdefaultaspx last view a 28062016
Official homepage BAE Systems (Reino Unido) available at httpwwwbaesystemscomenhomer=ES last view 28062016
Official homepage Bechtel (USA) available at httpwwwbechtelcom last view 28062016
Official homepage Boeing (USA) available at httpwwwboeinges last view 28062016
Official homepage CH2M Hill (USA) available at httpswwwch2mcom last view 28062016
Official homepage China Aerospace Science amp Industry (China) available at httpwwwcasic-globalcomen index-1html last view 28062016
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
14 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Official homepage Engility Holdings (USA) available at httpwwwengilitycorpcom last view 28062016
Official homepage Finmeccanica (Italy) available at httpwwwleonardocompanycom last view 28062016
Official homepage de Fluor (USA) available at httpwwwuorcompagesdefaultaspx last view 28062016
Official homepage General Dynamics (USA) available at httpwwwgeneraldynamicscom last view 28062016
Official homepage Hanwha (South Korea) available at httpwwwhanwhacorpcokrengindexjsp last view 28062016
Official homepage Honeywell International (USA) available at httpwwwhoneywellcom last view28062016
Official homepage Huntington Ingalls Industries (USA) available at httpwwwhuntingtoningallscom last view 28062016
Official homepage (Spain) available at httpwwwindracompanycom last view 28062016
Official homepage Jacobs Engineering (USA) available at httpwwwjacobscom last view 28062016
Official homepage Larsen amp Toubro (India) available at httpwwwlarsentoubrocom last view 28062016
Official homepage Lockheed Martin(USA) available at httpwwwlockheedmartincom last view 28062016
Official homepage MAxAM (Spain) available at httpwwwmaxamnet last view 28062016
Official homepage Moog (USA) available at httpwww moogcom last view 28062016
Official homepage Navantia (Spain) available at httpswwwnavantiaes last view28062016
Official homepage Norinco (China) available at httpwwwnorincocom last view 28062016
Official homepage Northrop Grumman (USA) available at httpwwwnorthropgrummancomPagesdefault aspx last view 28062016
Official homepage Oesia (Espantildea) available at httpgrupooesiacom last view 28062016
Official homepage Orbital ATK (USA) available at httpswwworbitalatkcom last view 28062016
Official homepage Poongsan (South Korea) available at httpwwwpoongsancokrenghome last view 28062016
Official homepage Raytheon (USA) available at httpwwwraytheoncom last view 28062016
Official homepage Safran (France) available at httpwwwsafran-groupcom last view 28062016
Official homepage Sener (Spain) available at httpwwwingenieriayconstruccionsenereshome last view 28062016
Official homepage Serco (UK) available at httpswwwsercocom last view 28062016
Official homepage Textron (USA) available at httpwwwtextroncom last view 28062016
Official homepage Thales (France) available at https wwwthalesgroupcomes last view 28062016
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
15 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
annex
1 sheets oF spanish armeD Banks
BBva
total investment in arms 2746121954 61 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 6611104922 euro
Maxam 29-7-2014 1888897382 euro
Navantia 18-3-2015 8177178560 euro
Maxam 29-7-2015 1929410507 euro
Maxam 29-7-2015 6752919208 euro
Oesia 29-10-2015 51467881 euro
Aecom 13-7-2011 4974063810 euro
Aecom 23-9-2011 2978406552 euro
Aecom 7-6-2013 1508295626 euro
Aecom 29-1-2014 2865961199 euro
Aecom 11-8-2014 5752278500 euro
Aecom 11-8-2014 4407590019 euro
Aecom 11-8-2014 1494098312 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Babcock amp Wilcox 22-5-2012 2506265664 euro
Babcock amp Wilcox 11-5-2015 3231017771 euro
Boeing 5-11-2011 3049444565 euro
Boeing 29-9-2012 35576179428 euro
Boeing 29-9-2012 35576179428 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 6542487685 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8175872093 euro
General Dynamics 14-7-2011 5633009435 euro
General Dynamics 21-6-2013 9484066768 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 30-3-2012 9658580413 euro
Honeywell International 18-11-2013 5400606643 euro
Jacobs Engineering 5-3-2015 4968831873 euro
Jacobs Engineering 5-3-2015 12376908483 euro
Thales 17-12-2010 6636500754 euro
Oesia 29-10-2015 128729969 euro
Total 2436291479 71 euro
Converting dollars to euros in the series of data has been done in accordance with the exchange rate set by the European Central Bank lsquos website at the time of investment or if the data is missing the one which belongs to the closer date this comment is valid for the overall of Spanish banks European Central Bank httpswwwecbeuropaeustatsexchangeeurofxrefhtmleurofxref-graph-usdenhtmlData from each individual entity coming from Caixa drsquoEstalvis de Catalunya Tarragona i Manresa (Caixa Catalonia) joined the raking of the bank BBVA in the rankings because they are part of BBVA Group
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 6174745292 euro
Aecom 17-9-2014 6174745292 euro
Airbus Group 20-10-2014 5010569169 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 1411986194 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1476341625 euro
Honeywell International 18-11-2013 739809129 euro
Honeywell International 18-11-2013 1701560997 euro
Total 303915278 40 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-10-2015 491559650 euro
Indra 31-8-2015 99960000 euro
Total 5915196 50 euro
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
16 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Banco de sabadell
total investment in arms 51551463 00 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Oesia 29-10-2015 123667554 euro
Orbital ATK 1-11-2013 666419845 euro
Orbital ATK 1-11-2013 444279896 euro
Total 46814530 07 euro
santander
total investment in arms 1518304347 55 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Sener 25-3-2011 166859784 euro
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Navantia 18-3-2015 3634358157 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Oesia 29-10-2015 324597196 euro
Airbus Group 14-3-2011 11686263264 euro
Airbus Group 14-10-2014 10596235964 euro
Boeing 5-11-2011 3049444565 euro
Boeing 23-9-2014 3878374186 euro
Boeing 23-9-2014 3878374186 euro
Finmeccanica 28-7-2010 14701354680 euro
Finmeccanica 9-7-2014 7351319562 euro
Finmeccanica 6-7-2015 8993459302 euro
Fluor 14-12-2010 6698920729 euro
General Dynamics 14-7-2011 2464441628 euro
Honeywell International 17-3-2011 4427306484 euro
Honeywell International 18-11-2013 5400606643 euro
Safran 18-11-2010 8866417528 euro
Thales 17-12-2010 8144796380 euro
Thales 19-12-2014 9935662513 euro
Total 1287172840 76 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 433624173 euro
Indra 30-9-2015 40069120 euro
Total 4736932 93 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-10-2013 3124574919 euro
Airbus Group 20-10-2014 7515853754 euro
Boeing 30-4-2013 764993880 euro
Boeing 28-10-2014 705993097 euro
Boeing 28-10-2014 705993097 euro
Boeing 18-2-2015 527611678 euro
Boeing 18-2-2015 703482237 euro
Boeing 18-2-2015 703482237 euro
Finmeccanica 26-11-2013 4355207795 euro
Finmeccanica 17-1-2014 1472320377 euro
Fluor 18-11-2014 799105002 euro
Total 213786180 73 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1525371800 euro
Indra 30-9-2015 209160806 euro
Total 17345326 06 euro
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
17 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bankia
total investment in arms 180919246 50 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 27-12-2012 1223120124 euro
Maxam 27-12-2012 569588443 euro
Maxam 27-12-2012 455920229 euro
Maxam 29-7-2014 4277803185 euro
Maxam 29-7-2014 1222198306 euro
Maxam 29-7-2015 1218575057 euro
Maxam 29-7-2015 4265001605 euro
Navantia 30-7-2015 3020417400 euro
Oesia 29-10-2015 278191730 euro
Total 175302560 79 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 561668571 euro
Total 5616685 71 euro
Banco popular espantildeol
total investment in arms 82918380 44 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Oesia 29-10-2015 476469631 euro
Total 82083794 94 euro
Data from Popular Gestion Privada and Banco Popular Espantildeol are counted in the rankings as Banco Popular
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 83458550 euro
Total 834585 50 euro
Bankinter
total investment in arms 48597800 81 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Navantia 30-7-2015 3020417400 euro
Total 45535733 97 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 306206683 euro
Total 3062066 83 euro
Banco mare nostrum
total investment in arms 16902113 80 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 157055383 euro
Total 16902113 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
18 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caja rural
total investment in arms 16472208 34 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 44356394 euro
Total 15775123 91 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 69708443 euro
Total 697084 43 euro
Banca march
total investment in arms 223489061 11 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Oesia 29-10-2015 61833777 euro
Total 15949897 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 20753916337 euro
Total 207539163 37 euro
unicaja Banco
total investment in arms 19646357 85 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 29-7-2014 777800579 euro
Maxam 29-7-2014 222199692 euro
Maxam 29-7-2015 203095843 euro
Maxam 29-7-2015 710833601 euro
Total 19139297 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 50706070 euro
Total 507060 70 euro
liberbank group
total investment in arms 2381952 77 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 77262088 euro
Total 772620 88 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 160933189 euro
Total 1609331 89 euro
instituto de Creacutedito oficial
total investment in arms 48272994 30 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 15-12-2011 999440000 euro
Maxam 29-7-2014 1555601158 euro
Maxam 29-7-2014 444399384 euro
Maxam 29-7-2015 406191686 euro
Maxam 29-7-2015 1421667202 euro
Total 48272994 30 euro
kutxabank
total investment in arms 2733850 19 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Total 2268520 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 46532939 euro
Total 465329 39 euro
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
19 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Caixabank
total investment in arms 87525635 60 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 25-3-2011 59992296 euro
Sener 25-3-2011 166859784 euro
Maxam 27-12-2012 833945539 euro
Maxam 27-12-2012 388355757 euro
Maxam 27-12-2012 310854701 euro
Maxam 29-7-2014 2333301737 euro
Maxam 29-7-2014 666699076 euro
Maxam 29-7-2015 710835450 euro
Maxam 29-7-2015 2487917603 euro
Total 79587619 43 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 793801616 euro
Oesia 16-11-2015
Total 7938016 16 euro
abante asesores
total investment in arms 4856621 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-8-2015 485662163 euro
Total 4856621 63 euro
ahorro
total investment in arms 388643 60 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 38864360 euro
Total 388643 60 euro
arquia Caja de arquitectos
total investment in arms 98415 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 9841501 euro
Total 98415 01 euro
atl Capital
total investment in arms 47081 09 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 4708109 euro
Total 47081 09 euro
acciona
total investment in arms 371950804 22 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Thales 31-5-2015 32346491228 euro
Indra 4-8-2015 4848589194 euro
Total 371950804 22 euro
Data from Bestinver are included
ibercaja
total investment in arms 2896103 25 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Oesia 29-10-2015 262763419 euro
Total 2627634 19 euro
Data from Grupo Ibercaja and Fundacion Bancaria Ibercaja are counted in the ran-kings as listed as Ibercaja
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 26846906 euro
Total 268469 06 euro
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
20 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
auriga Capital investments
total investment in arms 257877 65 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 25787765 euro
Total 257877 65 euro
eDm group
total investment in arms 5948640 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 594864039 euro
Total 5948640 39 euro
The EDM Group are recognized because of its branch in Spain- Axesor ldquoEdm Group Import SA Spain branch Lleida available at httpswwwaxesoresInformes-Empresas2591790EDM_GROUP_ExPORT_IMPORT_SA_SU-CURSAL_EN_ESPANAhtml Last viewd 27 June 2016- EDMES ldquoEDM Investmentrdquo available at httpwwwedmesenasset-managementedm-inversion Last viewd 27 June 2016
euroagentes gestioacuten
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Fondo de garantiacutea de Depoacutesitos de entidades de Creacutedito
total investment in arms unknoWn
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Oesia 16-11-2015 unknown
Banco alcalaacute
total investment in arms 2000744 27 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 200074427 euro
Total 2000744 27 euro
85 of Banco Alcalaacute was purchased by the national entity Credit Andorra Andorran market leader 2011- BANCO ALCALA ldquoquieacutenes somosldquo available at httpbancoalcalacomesquienes-somos-2 Last view 27 June 2016
Banco Caminos
total investment in arms 988578 74 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 92296874 euro
Indra 31-3-2015 6561000 euro
Total 988578 74 euro
Investment made by ArcoGest Banco Caminos acquiered ArcoGest Source httpwwwcnmvesPortalHRResultadoBusquedaHRaspxnif=A-82656802
Dux inversores
total investment in arms 87480 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 8748001 euro
Total 87480 01 euro
Banco mediolanum
total investment in arms 56333 69 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-7-2015 5633369 euro
Total 56333 69 euro
Ges Fibanc Sa Sgiic together with Banco Mediolanum SA are the Groupo Bancario Mediolanum- Source httpswwwbancomediolanumeses-ESpdffondosfibFFI_P_0012_0pdf
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
21 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
gesconsult (gesconsult-Finconsult group)
total investment in arms 1973767 63 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 197376763 euro
Total 1973767 63 euro
inverseguros group
total investment in arms 120285 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 12028501 euro
Total 120285 01 euro
Inverseguros Financial Group provides real estate and insurance companies operating in Spain among which its shareholders arebull AEGONESPANtildeASAbull ALLIANZCIacuteADESEGUROSYREASEGUROSSAbull BILBAOCIacuteAANOacuteNIMADESEGUROSYREASEGUROSSAbull CONSORCIODECOMPENSACIOacuteNDESEGUROSbull MAPFREGLOBALRISKSCOMPANtildeIacuteAINTERNACIONALDESEGUROSYREASEGUROSSAbull NACIONALDEREASEGUROSSAbull CNPVIDADESEGUROSYREASEGUROSSAbull RURALVIDADESEGUROSYREASEGUROSSAbull ZURICHESPANtildeACIacuteADESEGUROSYREASEGUROSSAbull AXAMEDITERRANEANHOLDINGSA(beforeHISPANOWINSA)oftheAXAGroupbull DALBERTODELAPUENTERUAndash Source httpwwwinmosegurosesgrupo_inverseguros_servicio_inversores_en_mercados_financieros_e_inmobiliarios Last views 27 June 2016
mapfre
total investment in arms 1243036 21 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 124303621 euro
Total 1243036 21 euro
mercados y gestioacuten de valuees av
total investment in arms 246037 52 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 24603752 euro
Total 246037 52 euro
gesiuris asset management
total investment in arms 220887 01 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 22088701 euro
Total 220887 01 euro
The Gesiuris Asset Management (Gesiuris) project was consolidated in 2008 with the entry into the shareholder structure of Grupo Catalan Occidente - Source httpgesiuriscomquienes-somoshistoria Last view 27 June 2016
grupo egeria
total investment in arms 776385 05 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 77638505 euro
Total 776385 05 euro
gvC gaesco group
total investment in arms 2059233 39 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 205923339 euro
Total 2059233 39 euro
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
22 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
mutua madrilentildea
total investment in arms 24044771 72 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2404477172 euro
Total 24044771 72 euro
n+1 group
total investment in arms 37484 36 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 3748436 euro
Total 37484 36 euro
riva y garciacutea
total investment in arms 60142 50 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 31-3-2015 6014250 euro
Total 60142 50 euro Riva y Garciacutea Private Banking provides advice through Banco de Alcalaacute subsidiaries of Credit Andorra in Spain in which Grupo Financiero Riva y Garciacutea has a 10 stake The deal with Banco Alcalaacute took place in 2013
trea Capital partners
total investment in arms 202618 15 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 20261815 euro
Total 202618 15 euro
novo Banco (novo Banco gestion sgiiC)
total investment in arms 806364 99 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-6-2015 80636499 euro
Total 806364 99 euro
renta 4 Banco
total investment in arms 35144943 10 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 2172447514 euro
Indra 30-9-2015 1342046796 euro
Total 35144943 10 euro
privat Bank patrimonio
total investment in arms 946822 80 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 29751322 euro
Indra 30-9-2015 64930958 euro
Total 946822 80 euro
sociedad estatal de participaciones industriales
total investment in arms 368193459 82 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 11-3-2015 36819345982 euro
Navantia 16-11-2015 unknown
Total 368193459 82 euro
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
23 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
2 sheets oF main Foreign armeD Banks that operate in spain
allianz
total investment in arms 108493290 euro
128608113 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 4210000 USD
BAE Systems 31-3-2015 2860000 USD
Boeing 31-3-2015 1730000 USD
Finmeccanica 30-6-2014 3400000 USD
Fluor 31-3-2015 680000 USD
Fluor 31-3-2015 1270000 USD
Honeywell International 31-3-2015 3160000 USD
Huntington Ingalls Industries
31-3-2015 6340000 USD
Indra 31-5-2015 27000 USD
Indra 30-6-2015 411113 USD
Lockheed Martin 31-3-2015 660000 USD
MOOG 31-3-2015 3450000 USD
Northrop Grumman 31-3-2015 1510000 USD
Northrop Grumman 31-3-2015 1560000 USD
Orbital ATK 31-3-2015 2200000 USD
Orbital ATK 31-12-2015 84000000 USD
Poongsan 30-9-2015 2000000 USD
Raytheon 31-3-2015 1950000 USD
Safran 31-3-2015 7190000 USD
Total 128608113 usD
108493290 euro
american international group (aig)
total investment in arms 58494947 euro
69340000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 31-3-2015 2050000 USD
Boeing 31-3-2015 590000 USD
Finmeccanica 31-3-2015 1120000 USD
Fluor 31-3-2015 2270000 USD
General Dynamics 31-3-2015 1030000 USD
Honeywell International 31-3-2015 880000 USD
Huntington Ingalls Industries
31-3-2015 1070000 USD
Lockheed Martin 31-3-2015 1580000 USD
Northrop Grumman 31-3-2015 1620000 USD
Orbital ATK 31-3-2015 3150000 USD
Raytheon 31-3-2015 960000 USD
Textron 31-3-2015 1020000 USD
Textron 30-09-2015 52000000 USD
Total 69340000 usD
58494947 euro
aviva
total investment in arms 8718396 euro
10334800 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Honeywell International 31-3-15 740000 USD
Northrop Grumman 31-3-15 710000 USD
Safran 31-3-15 4200000 USD
Indra 30-6-15 3594800 USD
Total 10334800 usD
8718396 euro
axa
total investment in arms 13900221 euro
16477344 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1340000 USD
BAE Systems 18-2-2015 5060000 USD
Finmeccanica 31-12-2014 540000 USD
Lockheed Martin 31-3-2015 800000 USD
Northrop Grumman 31-3-2015 1910000 USD
Raytheon 31-3-2015 1380000 USD
Serco 1-7-2015 4930000 USD
Indra 31-7-2015 517344 USD
Total 16477344 usD
13900221 euro
Banca privada de andorra
total investment in arms 1129007 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 6-30-2015 1129007 euro
Total 1129007 euro
The rate of exchange between euros and dollars is the US Federal Reserve calculating the annual average for the period
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
24 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of americatotal investment in arms 12881730543 euro
15270023261 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157000000 USD
Aecom 23-9-2011 120000000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 66600000 USD
Aecom 7-6-2013 150000000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 75600000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 42800000 USD
Boeing 23-9-2014 125000000 USD
Boeing 23-9-2014 125000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 72000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 190800000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 90100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 62200000 USD
Honeywell International 30-3-2012 128600000 USD
Honeywell International 18-11-2013 72700000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 26700000 USD
Huntington Ingalls Industries
23-9-2013 35500000 USD
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Jacobs Engineering 23-3-2012 154600000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49100000 USD
Moog 28-3-2013 107500000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 18-8-2012 12500000 USD
Orbital ATK 9-9-2010 32000000 USD
Orbital ATK 9-9-2010 48000000 USD
Orbital ATK 3-9-2012 20000000 USD
Orbital ATK 8-10-2013 25000000 USD
Orbital ATK 8-10-2013 67300000 USD
Orbital ATK 8-10-2013 46700000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72500000 USD
Serco 12-3-2015 8900000 USD
Serco 12-3-2015 44600000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Maxam 29-7-2014 20860952 USD
Maxam 29-7-2014 5959493 USD
Maxam 29-7-2014 4482857 USD
Maxam 29-7-2014 15689959 USD
Total 8916493261 usD
17521918049 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 4-4-2013 491500000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 9-4-2013 597400000 USD
Airbus Group 1-8-2013 166000000 USD
Safran 15-11-2013 304600000 USD
Safran 3-3-2015 1152900000 USD
Serco 1-5-2014 134900000 USD
Serco 16-4-2015 156900000 USD
Serco 16-4-2015 94200000 USD
Serco 16-4-2015 12300000 USD
Serco 16-4-2015 7400000 USD
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 24800000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 18-2-2015 5750000 USD
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
25 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Bank of america (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 19400000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 150000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
MOOG 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 60000000 USD
Orbital ATK 22-10-2013 50000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Safran 9-2-2012 77500000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 252500000 USD
Arms companies Most recent date Value
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 88500000 USD
Total 6335650000 usD
5344728997 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1350000 USD
Boeing 31-3-2015 1360000 USD
Fluor 31-3-2015 540000 USD
General Dynamics 31-3-2015 1600000 USD
Honeywell International 31-3-2015 1910000 USD
Huntington Ingalls Industries
31-3-2015 1360000 USD
Jacobs Engineering 31-3-2015 680000 USD
Lockheed Martin 31-3-2015 1970000 USD
MOOG 31-3-2015 910000 USD
Northrop Grumman 31-3-2015 1260000 USD
Orbital ATK 31-3-2015 1040000 USD
Raytheon 31-3-2015 3900000 USD
Total 17880000 usD
15083496 euro
Bank of China (iCBC)total investment in arms 675633194 euro
800896630 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
Finmeccanica 9-7-2014 100100000 USD
Finmeccanica 6-7-2015 60800000 USD
Honeywell International 18-11-2013 72700000 USD
Textron 23-1-2014 20000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2014 2241429 USD
Maxam 29-7-2014 7844980 USD
Total 418896630 usD
353379522 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
China Aereospace Science amp Industry
18-7-2012 20000000 USD
China Aereospace Science amp Industry
7-3-2014 21000000 USD
China Aereospace Science amp Industry
17-7-2014 14000000 USD
China Aereospace Science amp Industry
21-5-2015 89000000 USD
China Aereospace Science amp Industry
17-10-2012 15000000 USD
Norinco 1-4-2013 10000000 USD
Norinco 1-8-2013 7000000 USD
Norinco 28-4-2014 8000000 USD
Norinco 16-5-2014 9000000 USD
Norinco 23-9-2014 60000000 USD
Norinco 15-9-2014 6000000 USD
Norinco 23-9-2014 61000000 USD
Norinco 10-10-2014 57000000 USD
Norinco 25-11-2015 5000000 USD
Total 382000000 usD
322253672 euro
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
26 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Barclaystotal investment in arms 4186402917 euro
4962568477 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 2-3-2012 43000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Engility 25-11-2014 218000000 USD
Engility 25-11-2014 75000000 USD
Engility 25-11-2014 20000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 45000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Maxam 27-12-2012 16159600 USD
Maxam 27-12-2012 752528 USD
Maxam 27-12-2012 6023520 USD
Maxam 29-7-2014 31290086 USD
Maxam 29-7-2014 8940580 USD
Maxam 7-29-2015 7845000 USD
Maxam 7-29-2015 27457429 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Total 3916468743 usD
3303917366 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 15000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 12000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 10000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 29-3-2012 49000000 USD
Larsen amp Toubro 10-4-2012 49000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Larsen amp Toubro 21-1-2015 5000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Serco 13-5-2013 10000000 USD
Serco 13-5-2013 35000000 USD
Serco 13-5-2013 75000000 USD
Total 1034000000 usD
872278264 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 18-2-2015 3980000 USD
Hanwha 30-11-2015 6000000 USD
Indra 30-06-2015 6099733 USD
Total 12099733 usD
10207287 euro
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
27 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 143495680 euro
170100000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 30-6-2015 8960000 USD
Aerojet Rocketdyne 30-6-2015 10100000 USD
Airbus Group 31-12-2014 6710000 USD
Babcock amp Wilcox 31-7-2015 800000 USD
BAE Systems 18-2-2015 6400000 USD
Boeing 30-6-2015 4830000 USD
Engility 30-6-2015 4260000 USD
Finmeccanica 31-7-2015 1610000 USD
Fluor 30-6-2015 5380000 USD
General Dynamics 30-6-2015 5590000 USD
Honeywell International 30-6-2015 5740000 USD
Huntington Ingalls Industries
30-6-2015 6910000 USD
Jacobs Engineering 30-6-2015 6730000 USD
Larsen amp Toubro 31-7-2015 1310000 USD
Lockheed Martin 30-6-2015 6080000 USD
Moog 30-6-2015 10820000 USD
Northrop Grumman 30-6-2015 7350000 USD
Orbital ATK 30-6-2015 7290000 USD
Raytheon 30-6-2015 8730000 USD
Safran 30-6-2015 2270000 USD
Serco 11-3-2015 2960000 USD
total investment in arms 7112803481 euro
8431528221 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 157500000 USD
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 42900000 USD
Aecom 7-6-2013 20500000 USD
Aecom 16-12-2013 65500000 USD
Aecom 16-12-2013 96100000 USD
Aecom 16-12-2013 3900000 USD
Aecom 29-1-2014 105000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 10000000 USD
Aecom 11-8-2014 40000000 USD
Airbus Group 14-3-2011 162900000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Arms companies Most recent date Value
Textron 30-6-2015 5180000 USD
Thales 31-7-2015 1250000 USD
Aecom 31-5-2015 5350000 USD
Airbus Group 31-5-2015 750000 USD
BAE Systems 31-3-2015 500000 USD
Boeing 31-5-2015 1570000 USD
Finmeccanica 30-11-2014 3030000 USD
Fluor 31-5-2015 600000 USD
General Dynamics 31-5-2015 1710000 USD
Honeywell International 31-3-2015 1710000 USD
Huntington Ingalls Industries
31-5-2015 3500000 USD
Lockheed Martin 31-5-2015 1800000 USD
Northrop Grumman 31-5-2015 1780000 USD
Raytheon 31-5-2015 1470000 USD
Textron 31-5-2015 560000 USD
Thales 31-5-2015 1220000 USD
Indra 30-11-2014 11357000 USD
Indra 16-11-2015 5933000 USD
Total 170100000 usD
143495680 euro
Arms companies Most recent date Value
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 131700000 USD
BAE Systems 12-12-2013 130700000 USD
Bechtel 2-6-2011 258300000 USD
Bechtel 2-6-2011 158300000 USD
Bechtel 27-7-2012 195000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 200000000 USD
Boeing 5-11-2011 41800000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
Blackrock
Bnp pariBas
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
28 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 219440035 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Navantia 10-8-2013 27256922 euro
Total 27256922 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 8-5-2013 78939744 euro
Indra 15-7-2014 81997619 euro
Total 160937363 euro
Arms companies Most recent date Value
Finmeccanica 28-7-2010 190900000 USD
Finmeccanica 9-7-2014 150100000 USD
Finmeccanica 6-7-2015 153100000 USD
Fluor 14-12-2010 240000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 128000000 USD
Honeywell International 18-11-2013 72000000 USD
Jacobs Engineering 23-3-2012 139000000 USD
Jacobs Engineering 23-3-2012 154700000 USD
Jacobs Engineering 7-2-2014 62200000 USD
Jacobs Engineering 7-2-2014 152000000 USD
Jacobs Engineering 7-2-2014 61300000 USD
Jacobs Engineering 5-3-2015 61300000 USD
Jacobs Engineering 5-3-2015 152000000 USD
Northrop Grumman 31-3-2011 21600000 USD
Northrop Grumman 31-3-2011 24400000 USD
Northrop Grumman 8-9-2011 128600000 USD
Northrop Grumman 18-8-2012 12500000 USD
Navantia 3-18-2015 48400000 USD
Orbital ATK 9-9-2010 14100000 USD
Orbital ATK 9-9-2010 21200000 USD
Safran 18-11-2010 121300000 USD
Safran 21-10-2011 176000000 USD
Thales 17-12-2010 107900000 USD
Thales 19-12-2014 122300000 USD
Total 7270000000 usD
6132942920 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93100000 USD
Arms companies Most recent date Value
BAE Systems 30-5-2012 154800000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 8800000 USD
Boeing 28-10-2014 15000000 USD
Boeing 18-2-2015 7500000 USD
Boeing 18-2-2015 7900000 USD
Boeing 18-2-2015 13800000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 85000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23300000 USD
Larsen amp Toubro 9-9-2014 66700000 USD
Northrop Grumman 28-5-2013 25500000 USD
Northrop Grumman 28-5-2013 31500000 USD
Northrop Grumman 28-5-2013 28500000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1148600000 usD
968954366 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 30-9-2015 1480605 USD
Indra 30-06-2011 447616 USD
Thales 30-11-2014 700000 USD
Total 12928221 usD
10906196 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Indra 10-8-2013 31245749 euro
Total 31245749 euro
BpCe
Bnp pariBas (cont)
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
29 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12387565600 euro
14684239375 USD
loans to arms companies (2011-2016) Arms companies Most recent date Value
Aecom 14-10-2011 70000000 USD
Aecom 14-10-2011 100000000 USD
Aecom 2-3-2012 67000000 USD
Aecom 16-12-2013 66000000 USD
Aecom 16-12-2013 96000000 USD
Aecom 16-12-2013 4000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 150000000 USD
Bechtel 14-6-2013 300000000 USD
Bechtel 19-9-2014 300000000 USD
Bechtel 19-9-2014 150000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 90000000 USD
Fluor 7-11-2012 270000000 USD
Fluor 28-5-2014 255000000 USD
Fluor 28-5-2014 270000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 7000000 USD
Orbital ATK 29-09-2015 46000000 USD
Orbital ATK 29-09-2015 57000000 USD
Raytheon 13-12-2011 76000000 USD
Arms companies Most recent date Value
Safran 18-11-2010 121000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Thales 17-12-2010 88000000 USD
Total 11649000000 usD
9827049804 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 8-3-2012 100000000 USD
Aecom 8-3-2012 150000000 USD
Aerojet Rocketdyne 18-1-2013 115000000 USD
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 41000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 34000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 10-8-2013 127239375 USD
Larsen amp Toubro 12-6-2014 17000000 USD
Larsen amp Toubro 26-2-2015 26000000 USD
Larsen amp Toubro 9-9-2014 67000000 USD
Lockheed Martin 12-2-2015 60000000 USD
Lockheed Martin 12-2-2015 40000000 USD
Lockheed Martin 12-2-2015 80000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Safran 15-11-2013 305000000 USD
Safran 9-2-2012 78000000 USD
Safran 9-2-2012 270000000 USD
Safran 9-2-2012 253000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3035239375 usD
2560515796 euro
Citi group - Bank
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
30 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Commerzbank
Creacutedit agricole
total investment in arms 1679209926 euro
1990538038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-07-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 30000000 USD
Boeing 23-9-2014 30000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Safran 18-11-2010 121000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 1749538038 usD
1475903290 euro
total investment in arms 4634369226 euro
5493588431 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 47000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
Babcock amp Wilcox 22-5-2012 32000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 20-10-2014 64000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 28-10-2014 4000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Boeing 18-2-2015 3000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Total 241000000 usD
203306636 euro
Arms companies Most recent date Value
Bechtel 2-6-2011 158000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 14-12-2010 90000000 USD
Fluor 7-11-2012 180000000 USD
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
31 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit agricole (cont)
Arms companies Most recent date Value
Honeywell International 17-3-2011 62000000 USD
Honeywell International 18-11-2013 73000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 17-12-2010 88000000 USD
Thales 19-12-2014 122000000 USD
Navantia 18-03-2015 58099609 USD
Total 4185099609 usD
3530533290 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597400000 USD
Serco 16-4-2015 94300000 USD
Serco 16-4-2015 7300000 USD
Airbus Group 20-10-2014 96000000 USD
Boeing 30-4-2013 9500000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 18100000 USD
Boeing 18-2-2015 5800000 USD
Boeing 18-2-2015 7500000 USD
Arms companies Most recent date Value
Boeing 18-2-2015 7900000 USD
Finmeccanica 28-11-2012 70700000 USD
Finmeccanica 26-11-2013 59400000 USD
Finmeccanica 17-1-2014 19900000 USD
Fluor 18-11-2014 17500000 USD
Lockheed Martin 12-2-2015 13500000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8300000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1294500000 usD
1092035022 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 1060000 USD
Finmeccanica 30-6-2015 900000 USD
Moog 31-3-2015 690000 USD
Safran 30-6-2015 1170000 USD
Thales 30-6-2015 1150000 USD
Finmeccanica 30-4-2014 520000 USD
Thales 31-12-2014 560000 USD
Indra 30-6-2015 6666965 USD
Indra 3-31-2015 1271857 USD
Total 13988822 usD
11800914 euro
Creacutedit suisse
total investment in arms 1175040006 euro
1392894236 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Arms companies Most recent date Value
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 770000000 usD
649568920 euro
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
32 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Creacutedit suisse (cont)
Deutsche Bank
total investment in arms 3922343145 euro
4649551616 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 90000000 USD
Boeing 23-9-2014 90000000 USD
Engility 23-4-2014 79000000 USD
Engility 23-4-2014 50000000 USD
Engility 23-4-2014 10000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Safran 18-11-2010 121000000 USD
Thales 17-12-2010 108000000 USD
Maxam 27-12-2012 201995000 USD
Maxam 27-12-2012 94066000 USD
Maxam 27-12-2012 75294000 USD
Maxam 29-7-2014 469358000 USD
Maxam 29-7-2014 134102000 USD
Maxam 29-7-2015 109830000 USD
Maxam 29-7-2015 384404000 USD
Total 3386049000 usD
2856457392 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-9-2014 267000000 USD
BAE Systems 30-9-2014 100000000 USD
Boeing 30-4-2013 50000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 28000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Larsen amp Toubro 25-10-2012 13000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 8000000 USD
Raytheon 24-11-2014 8000000 USD
Thales 13-3-2013 93000000 USD
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Larsen amp Toubro 14-3-2014 95000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 34000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 21000000 USD
Boeing 18-2-2015 8000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Arms companies Most recent date Value
Northrop Grumman 3-2-2015 24000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 30000000 USD
Raytheon 24-11-2014 30000000 USD
Total 614000000 usD
517967944 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Jacobs Engineering 31-3-2015 540000 USD
Indra 4-30-2015 354236 USD
Orbital ATK 31-1-2016 8000000 USD
Total 13988822 usD
7503142 euro
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
33 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Thales 13-3-2013 56000000 USD
Raytheon 24-11-2014 8300000 USD
Thales 13-3-2013 92600000 USD
Thales 13-3-2013 55500000 USD
Total 1242000000 usD
1047746232 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 530000 USD
BAE Systems 1-8-2015 1640000 USD
Fluor 28-2-2015 1030000 USD
Jacobs Engineering 31-3-2015 810000 USD
Raytheon 31-3-2015 1730000 USD
Arms companies Most recent date Value
Aerojet Rocketdyne 28-2-2015 1790000 USD
Boeing 31-3-2015 660000 USD
General Dynamics 31-3-2015 1530000 USD
Honeywell International 31-3-2015 640000 USD
Huntington Ingalls Industries
28-2-2015 790000 USD
MOOG 28-2-2015 980000 USD
Northrop Grumman 31-3-2015 670000 USD
Raytheon 31-3-2015 960000 USD
Thales 28-2-2015 800000 USD
Hanwha 28-2-2015 2000000 USD
Indra 17-11-2015 4942616 USD
Total 21502616 usD
18139521 euro
Deutsche Bank (cont)
erste group
total investment in arms 39550343 euro
46883038 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Maxam 29-7-2014 15645714 USD
Maxam 29-07-2015 11767469 USD
Airbus Group 14-3-2011 4345000 USD
Boeing 23-9-2014 90000000 USD
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Raytheon 13-12-2011 76000000 USD
Total 46883038 usD
39550343 euro
european investment Bank
total investment in arms 49946000 euro
loans to arms companies (2011-2016)Arms companies Most recent date Value
Sener 19-12-2011 49946000 euro
Total 49946000 euro
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
34 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 1549993933 euro
1837365200 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 65000000 USD
Boeing 23-9-2014 65000000 USD
Finmeccanica 28-7-2010 85000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Honeywell International 30-6-2015 400000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 8-9-2011 129000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Textron 30-9-2013 75000000 USD
Total 1683000000 usD
1419772068 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 6-12-2012 107900 USD
Airbus Group 17-4-2013 147300 USD
Larsen amp Toubro 12-6-2014 1700000 USD
BAE Systems 30-9-2014 26700000 USD
BAE Systems 30-9-2014 10000000 USD
Boeing 30-4-2013 3500000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 900000 USD
Boeing 28-10-2014 3400000 USD
Boeing 18-2-2015 600000 USD
Boeing 18-2-2015 2100000 USD
Boeing 18-2-2015 800000 USD
Arms companies Most recent date Value
Finmeccanica 26-11-2013 5900000 USD
Finmeccanica 17-1-2014 2000000 USD
Fluor 18-11-2014 1000000 USD
Honeywell International 18-11-2013 1000000 USD
Honeywell International 18-11-2013 2300000 USD
Lockheed Martin 12-2-2015 15000000 USD
Lockheed Martin 12-2-2015 10000000 USD
Lockheed Martin 12-2-2015 20000000 USD
Northrop Grumman 28-5-2013 5700000 USD
Northrop Grumman 28-5-2013 7000000 USD
Northrop Grumman 28-5-2013 6300000 USD
Northrop Grumman 3-2-2015 2400000 USD
Textron 23-1-2014 1900000 USD
Textron 23-1-2014 2600000 USD
Textron 23-10-2014 2200000 USD
Total 136155200 usD
114859982 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
goldman sachs
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
35 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 3857962547 euro
4573234756 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 14-10-2011 35000000 USD
Aecom 14-10-2011 50000000 USD
Aecom 2-3-2012 43000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 16-12-2013 39000000 USD
Aecom 16-12-2013 58000000 USD
Aecom 16-12-2013 2000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 77000000 USD
Aecom 11-8-2014 59000000 USD
Aecom 11-8-2014 20000000 USD
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
CH2M Hill 19-4-2012 72000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 139000000 USD
Fluor 28-5-2014 227000000 USD
Fluor 28-5-2014 240000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Jacobs Engineering 7-2-2014 39000000 USD
Larsen amp Toubro 27-8-2013 5000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 7000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Larsen amp Toubro 27-8-2013 11000000 USD
Maxam 12-27-2012 16159600 USD
Maxam 12-27-2012 7525280 USD
Maxam 12-27-2012 6023520 USD
Maxam 7-29-2014 52151038 USD
Maxam 7-29-2014 14900073 USD
Maxam 7-29-2015 12327857 USD
Maxam 7-29-2015 43147388 USD
Moog 18-3-2011 180000000 USD
Moog 28-3-2013 120000000 USD
Moog 22-5-2014 220000000 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 176000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 3733234756 usD
3149341907 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Fluor 18-11-2014 5000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 14-6-2012 9000000 USD
Larsen amp Toubro 21-12-2012 31000000 USD
Larsen amp Toubro 13-6-2014 5000000 USD
Larsen amp Toubro 13-6-2014 6000000 USD
Larsen amp Toubro 2-2-2015 49000000 USD
Moog 18-11-2014 40000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 840000000 usD
708620640 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Boeing 31-3-2015 790000 USD
Fluor 31-3-2015 870000 USD
Honeywell International 31-3-2015 610000 USD
Huntington Ingalls Industries
31-3-2015 510000 USD
Jacobs Engineering 31-3-2015 1480000 USD
Moog 31-3-2015 2630000 USD
Northrop Grumman 31-3-2015 590000 USD
Orbital ATK 31-3-2015 2220000 USD
Textron 31-3-2015 1610000 USD
Aecom 30-9-2014 1650000 USD
MOOG 31-3-2015 5250000 USD
Total 18210000 usD
15361883 euro
hsBC
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
36 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 12308487438 euro
14590500000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Aecom 13-7-2011 70000000 USD
Aecom 23-9-2011 40000000 USD
Aecom 7-6-2013 20000000 USD
Aecom 29-1-2014 39000000 USD
Aecom 11-8-2014 154000000 USD
Aecom 11-8-2014 95000000 USD
Aecom 11-8-2014 105000000 USD
Aecom 11-8-2014 40000000 USD
Aerojet Rocketdyne 30-5-2014 8000000 USD
Aerojet Rocketdyne 30-5-2014 15000000 USD
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Babcock amp Wilcox 22-5-2012 70000000 USD
Babcock amp Wilcox 11-5-2015 40000000 USD
Babcock amp Wilcox 11-5-2015 32000000 USD
Babcock amp Wilcox 11-5-2015 48000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 27-7-2012 146000000 USD
Bechtel 14-6-2013 100000000 USD
Bechtel 14-6-2013 200000000 USD
Bechtel 19-9-2014 200000000 USD
Bechtel 19-9-2014 100000000 USD
Bechtel 19-9-2014 120000000 USD
Arms companies Most recent date Value
Boeing 5-11-2011 460000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 29-9-2012 690000000 USD
Boeing 7-11-2013 818000000 USD
Boeing 7-11-2013 798000000 USD
Boeing 23-9-2014 175000000 USD
Boeing 23-9-2014 175000000 USD
CH2M Hill 6-12-2010 120000000 USD
CH2M Hill 19-4-2012 135000000 USD
CH2M Hill 22-3-2014 220000000 USD
Finmeccanica 28-7-2010 85000000 USD
Finmeccanica 9-7-2014 100000000 USD
Finmeccanica 6-7-2015 23000000 USD
Fluor 14-12-2010 90000000 USD
General Dynamics 14-7-2011 80000000 USD
General Dynamics 21-6-2013 125000000 USD
Honeywell International 17-3-2011 560000000 USD
Honeywell International 30-3-2012 600000000 USD
Honeywell International 18-11-2013 800000000 USD
Honeywell International 30-6-2015 480000000 USD
Huntington Ingalls Industries
23-9-2013 49000000 USD
Huntington Ingalls Industries
23-9-2013 65000000 USD
Jp morgan
ing
total investment in arms 388897756 euro
461000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
Fluor 7-11-2012 180000000 USD
Safran 18-11-2010 121000000 USD
Total 443000000 usD
373713028 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Fluor 18-11-2014 18000000 USD
Total 18000000 usD
15184728 euro
invesco
total investment in arms 345874360 euro
410000000 USD
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Textron 31-12-2015 410000000 USD
Total 410000000 usD
345874360 euro
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
37 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
Arms companies Most recent date Value
Huntington Ingalls Industries
13-7-2015 125000000 USD
Lockheed Martin 26-8-2011 120000000 USD
Lockheed Martin 30-4-2014 10000000 USD
Lockheed Martin 14-8-2014 120000000 USD
Moog 18-3-2011 49000000 USD
Moog 28-3-2013 108000000 USD
Moog 22-5-2014 110000000 USD
Northrop Grumman 31-3-2011 58000000 USD
Northrop Grumman 31-3-2011 65000000 USD
Northrop Grumman 8-9-2011 150000000 USD
Northrop Grumman 18-8-2012 50000000 USD
Northrop Grumman 29-8-2013 355000000 USD
Northrop Grumman 19-6-2015 320000000 USD
Orbital ATK 9-9-2010 14000000 USD
Orbital ATK 9-9-2010 21000000 USD
Orbital ATK 3-9-2012 13000000 USD
Orbital ATK 8-10-2013 14000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Orbital ATK 24-6-2014 15000000 USD
Raytheon 13-12-2011 280000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 9000000 USD
Serco 12-3-2015 45000000 USD
Textron 30-9-2013 100000000 USD
Textron 23-1-2014 50000000 USD
Textron 24-1-2014 420000000 USD
Total 12107000000 usD
10213416772 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Serco 1-5-2014 135000000 USD
Serco 16-4-2015 157000000 USD
Serco 16-4-2015 94000000 USD
Serco 16-4-2015 12000000 USD
Serco 16-4-2015 7000000 USD
Aecom 17-9-2014 80000000 USD
Aecom 17-9-2014 80000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 30-4-2013 35000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 25000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 29000000 USD
Boeing 18-2-2015 21000000 USD
Jp morgan (cont)
Arms companies Most recent date Value
Boeing 18-2-2015 19000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
General Dynamics 1-11-2012 90000000 USD
General Dynamics 1-11-2012 100000000 USD
General Dynamics 1-11-2012 50000000 USD
Honeywell International 18-11-2013 30000000 USD
Honeywell International 18-11-2013 70000000 USD
Huntington Ingalls Industries
17-11-2014 60000000 USD
Lockheed Martin 12-2-2015 135000000 USD
Lockheed Martin 12-2-2015 90000000 USD
Lockheed Martin 12-2-2015 180000000 USD
Moog 18-11-2014 40000000 USD
Northrop Grumman 28-5-2013 57000000 USD
Northrop Grumman 28-5-2013 70000000 USD
Northrop Grumman 28-5-2013 63000000 USD
Northrop Grumman 3-2-2015 126000000 USD
Raytheon 27-11-2012 88000000 USD
Raytheon 24-11-2014 78000000 USD
Raytheon 24-11-2014 78000000 USD
Textron 23-1-2014 25000000 USD
Textron 23-1-2014 35000000 USD
Textron 23-10-2014 22000000 USD
Total 2442000000 usD
2060061432 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Aecom 31-3-2015 1450000 USD
BAE Systems 19-1-2015 720000 USD
Engility 31-3-2015 2940000 USD
Fluor 31-3-2015 11020000 USD
General Dynamics 31-3-2015 550000 USD
Honeywell International 31-3-2015 3820000 USD
Huntington Ingalls Industries
31-3-2015 2170000 USD
Jacobs Engineering 31-3-2015 2980000 USD
Northrop Grumman 31-3-2015 1310000 USD
Thales 30-6-2015 770000 USD
Aecom 30-4-2015 3200000 USD
Aerojet Rocketdyne 28-2-2015 4330000 USD
BAE Systems 31-5-2015 600000 USD
Fluor 31-5-2015 900000 USD
Orbital ATK 28-2-2015 4740000 USD
Total 41500000 usD
35009234 euro
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
38 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
lloyds Banking group
siemens Financial services
total investment in arms 136662552 euro
162000000 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Huntington Ingalls Industries
23-9-2013 27000000 USD
Huntington Ingalls Industries
23-9-2013 35000000 USD
Huntington Ingalls Industries
13-7-2015 71000000 USD
Orbital ATK 8-10-2013 17000000 USD
Orbital ATK 8-10-2013 12000000 USD
Total 162000000 usD
136662552 euro
total investment in arms 1697973412 euro
2012780302 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 76000000 USD
Airbus Group 14-10-2014 66000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Bechtel 2-6-2011 258000000 USD
Bechtel 2-6-2011 158000000 USD
Boeing 5-11-2011 42000000 USD
Boeing 23-9-2014 50000000 USD
Boeing 23-9-2014 50000000 USD
General Dynamics 14-7-2011 35000000 USD
Honeywell International 18-11-2013 73000000 USD
Jacobs Engineering 7-2-2014 62000000 USD
Lockheed Martin 26-8-2011 90000000 USD
Lockheed Martin 14-8-2014 50000000 USD
Northrop Grumman 18-8-2012 13000000 USD
Serco 21-2-2012 72000000 USD
Serco 12-3-2015 45000000 USD
Navantia 18-3-2015 85780302 USD
Total 1488780302 usD
1255929108 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
BAE Systems 30-5-2012 155000000 USD
Boeing 30-4-2013 10000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Fluor 18-11-2014 18000000 USD
General Dynamics 1-11-2012 39000000 USD
General Dynamics 1-11-2012 43000000 USD
General Dynamics 1-11-2012 21000000 USD
Lockheed Martin 12-2-2015 14000000 USD
Lockheed Martin 12-2-2015 9000000 USD
Lockheed Martin 12-2-2015 18000000 USD
Northrop Grumman 28-5-2013 26000000 USD
Northrop Grumman 28-5-2013 32000000 USD
Northrop Grumman 28-5-2013 29000000 USD
Raytheon 27-11-2012 60000000 USD
Raytheon 24-11-2014 5000000 USD
Raytheon 24-11-2014 5000000 USD
Total 524000000 usD
442044304 euro
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
39 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
total investment in arms 4396446051 euro
5211553933 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Airbus Group 14-3-2011 163000000 USD
Airbus Group 14-10-2014 134000000 USD
BAE Systems 8-12-2010 132000000 USD
BAE Systems 12-12-2013 131000000 USD
Boeing 23-9-2014 60000000 USD
Boeing 23-9-2014 60000000 USD
Finmeccanica 28-7-2010 191000000 USD
Finmeccanica 9-7-2014 150000000 USD
Finmeccanica 6-7-2015 153000000 USD
Honeywell International 17-3-2011 62000000 USD
Honeywell International 30-3-2012 129000000 USD
Honeywell International 18-11-2013 73000000 USD
Maxam 29-7-2014 10430476 USD
Maxam 29-7-2014 2979746 USD
Maxam 29-7-2015 2241429 USD
Maxam 29-7-2015 7844980 USD
Safran 18-11-2010 255000000 USD
Safran 21-10-2011 198000000 USD
Thales 17-12-2010 108000000 USD
Thales 19-12-2014 122000000 USD
Total 2144496630 usD
1809088779 euro
issuance of bonds and commercial papers of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Arms companies Most recent date Value
Airbus Group 9-4-2013 597000000 USD
Airbus Group 15-1-2014 614000000 USD
Airbus Group 26-6-2015 93000000 USD
Airbus Group 26-6-2015 93000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 28-10-2014 9000000 USD
Boeing 18-2-2015 6000000 USD
Boeing 18-2-2015 8000000 USD
Boeing 18-2-2015 8000000 USD
Finmeccanica 28-11-2012 71000000 USD
Finmeccanica 26-11-2013 59000000 USD
Finmeccanica 17-1-2014 20000000 USD
Honeywell International 18-11-2013 10000000 USD
Honeywell International 18-11-2013 23000000 USD
Indra 8-5-2013 118726000 USD
Safran 27-3-2013 344000000 USD
Safran 27-3-2013 229000000 USD
Thales 13-3-2013 93000000 USD
Thales 13-3-2013 56000000 USD
Total 3057726000 usD
2579485423 euro
Bondholding and shareholding of arms companies (2011-2016)
Arms companies Most recent date Value
Airbus Group 30-6-2015 520000 USD
Indra 6-30-2015 1998000 USD
Indra 11-17-2015 6813302 USD
Total 9331302 usD
7871849 euro
socieacuteteacute geacuteneacuteral
uBi Banca
total investment in arms 19840412 euro
23518855 USD
loans to arms companies (2011-2016)Arms companies Most recent date Value
Finmeccanica 28-7-2010 3181000 USD
Finmeccanica 9-7-2014 3001000 USD
Finmeccanica 6-7-2015 2212000 USD
Maxam 27-12-2012 11017909 USD
Maxam 27-12-2012 4106945 USD
Total 23518855 usD
19840412 euro
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
40 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
3 arms Companies FinananCeD By the armeD Banking
1 aecom (usa) Global architecture engineering consult-ing operations and maintenance of commercial vehicles military equipment and weapons provider including fences military vehicles systems of artillery air defense systems radar systems communications systems spe-cial products depending on special needs The company participates in the maintenance of infrastructures from Nevada National Security Site (NNSS) a complex harpsi-chord in the US for the production of nuclear weapons
2 aerojet rocketdyne (usa) Aerojet Rocketdyne formerly known as GenCorp is involved in the design develop-ment and production of land- and sea-based nuclear bal-listic missile systems for the United States It is currently producing propulsion systems for Minuteman III and D5 Trident nuclear missiles
3 airbus is a Dutch company that produces and main-tains the M51 submarine-launched nuclear missiles for the French navy Through joint venture MBDA Airbus is also providing mediumrange air-to-surface missiles to the French air force Moreover they are specialized in the production of the circuits of Trident missiles fighter jets aircraft military helicopters and missiles
4 Babcock amp Wilcox (usa) Babcock amp Wilcox manages and operates several US nuclear weapons facilities including the Lawrence Livermore National Laboratory Los Alamos National Laboratory and Nevada National Security Site (NNSS) previously known as the Nevada Test Site each of which are engaged in various aspects of nuclear warhead modernisation It has been as well linked with nuclear energy nuclear submarines (manufactured components for the USS Nautilus) and construction of nuclear reactors for various plants
5 Bae systems (uk) BAE Systems is involved in the US and UK Trident II (D5) strategic weapons system programs It is also the prime contractor for the US Minuteman III Inter-continental Ballistic Missile (ICBM) system BAE Systems is also part of the joint venture providing medium-range air-to-surface missiles for France
6 Bechtel (usa) Bechtel manages the Los Alamos and Lawrence Livermore national laboratories in the US which play an important role in the research design de-velopment and production of nuclear weapons It also leads the joint venture for management and operation of the Y-12 National Security Complex in Tennessee and the Pantex Plant in Texas
7 Boeing (usa) Commercial delegation of US aerospace giant which looks after the interests of the company in Spain It is the second largest aircraft manufacturer (both
fighters and bombers such as the F -18 aircraft of the Air Force) and aerospace equipment in the world In addition they designs and manufactures rotorcraft electronic and defense systems missiles satellites launch vehicles and advanced information and communication systems train-ing It is a company that supplies repairs and maintains both the US Army and the British Army the Trident mis-siles intercontinental ballistic missiles M51 submarine ca-pable each missile to launch 12 nuclear heads to 12 dif-ferent targets They also developed the American nuclear intercontinental missile Minutenam The US nuclear sub-marines clears are equipped with these missiles nuclear charge are on high alert and permanent can launch a missile at any time
8 Ch2m hill (usa) CH2M Hill is one of the joint venture partners in National Security Technologies (NSTec) that manages the Nevada National Security Site (NNSS) previ-ously known as the Nevada Test Site a key fixture in the US nuclear weapons infrastructure
9 China aerospace science amp industry (China) CASIC defined itself as the largest designer and manufacturer of missiles in China There is evidence that they also pro-duced cluster munitions after the 2008
10 engility holdings (usa) In February 2015 Engility ac-quired US-based TASC They are involved in the research and development for the Solid Rocket Motor Moderniza-tion Study of the Minuteman III system for the US arsenal
11 Finmeccanica (italy) produces tactical transport aircrafts fight aircrafts and military applications for unmanned aerial vehicles It also conducts development activities and production of missile systems (including nuclear) torpedoes naval artillery and armored vehicles The focus of their economic activity is in the design and develop-ment of vehicles for Minuteman III missiles Finmeccanica is involved in the design development and supply of two vehicles Intercontinental Ballistic Missile Minuteman III to support the US fleet They are also implicated in the joint venture that supplies medium-range-air-to-surface missiles for the French arsenal
12 Fluor (us) One of their major projects has been the LO-GCAP (Logistic Civil Augmentation Program) a program administered by the US Armed Forces to provide in case of emergency support to enlarge the structures of armed forces Furthermore Fluor is the principal senior partner responsible for the management and operations of the Department of Energyrsquos Savannah River Site and Savan-nah River National Laboratory the only source of new tri-tium (radioactive hydrogen isotope) for the US nuclear arsenal
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
41 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
13 general Dynamics (usa) General Dynamics provides a range of engineering development and production activities to support to US and UK Trident II Strategic Weapons Systems It is also involved in the guidance sys-tems of the Trident II (D5) nuclear missiles of the US Navy (100 in military production) They manufacture trucks guns small arms bombs nuclear submarines and guid-ance systems of nuclear missiles howitzers and all kinds of explosives
14 hanwha (south korea) Hanwha Corporation has two major business areas the explosives division which makes commercial explosives defense industry products and aerospace products and the trade division which globally deals with petroleum metals and other goods It has spe-cialized in munitions for which the production process is under strict government control The company marketed the MPSM submunitions on its website after May 2008 produced DPICM submunitions and 227 mm MLRS at least until 2011 and marketed the 275rsquorsquo submunitions and 120 mm mortar bombs with cluster ammunition in 2011
15 honeywell international (usa) Honeywell Internation-al manages and operates the National Security Campus where an estimated 85 of the non-nuclear components for US nuclear weapons are produced It is also involved in tritium production at the Savannah River Site and pro-duces components for integrated circuits for the Trident II (D5) nuclear missiles of the US arsenal Hence they are specialized in manufacturing ballistic missile submarine M -51 and in the circuits of the Trident missiles
16 huntington ingalls industries (usa) Huntington Ingalls Industries is involved in management of the US nuclear arsenal and in tritium production at the Savannah River Site the only source of new tritium for the US nuclear arsenal
17 indra (spain) Company dedicated to military electron-ics flight simulators shot systems and electronic defense They manage the production of Euro fighter frigates F-100 and Tigrecopters They develop technologies ap-plied to military nautical field and military aviation as well as simulators absolutely necessary for the operation and development of existing weapons systems
18 Jacobs engineering (usa) Jacobs Engineering (USA) specializes in scientific consulting technical installations and maintenance of all types of aerospace and defense equipment This is one of the investment companies in the corporation Atomic Weapons Establishment the in-stallations of the UK government responsible for making atomic arsenal of the English army Its activity focuses es-pecially on the construction of Trident missiles
19 larsen amp toubro (india) Larsen amp Toubro are respon-sible for developing the launcher system for the nuclear-capable short-range surface-to-air Akash missile system for the Indian nuclear arsenal
20 lockheed martin (usa) Lockheed Martin is responsible for the construction of the Trident II (D5) nuclear missiles for the US and the UK They are also involved in the pro-duction and maintenance of the Minuteman III nuclear intercontinental ballistic missiles for the US It is part of the joint venture AWE-ML which manages the UK Atomic Weapons Establishment that designs manufactures and maintains nuclear warheads for the UK
21 maxam (spain) Manufacturer of all types of civil and military (explosives for civilian use cartridges and gun-powder for sports articles and services for the defense industry chemical raw materials in chemical nitro) explo-sives through its subsidiaries Expal and Faex It is one of the largest companies in the world military explosives which manufactures and exports all types of ammunition mortars medium caliber explosives artillery small arms and underwater grenades and limpet bombs among oth-ers The company was responsible for manufacturing and anti-personnel cluster bombs and stopping only in the manufacture of these weapons when it was forbidden by law Recently it has been found that Maxam has produced military explosives that could have been destined for the war in Syria
22 moog (usa) Moog develops launch vehicle and strategic missile controls for the Minuteman III and Trident (D5) missiles for the US nuclear arsenal
23 navantia (spain) They are a Spanish public company dedicated to military shipbuilding created in 2005 as a re-sult of the segregation of the military assets of the public company IZAR Group They build ships short betas frig-ates patrol boats and submarines for the navies of Spain Norway Venezuela Chile and Malaysia Among their fu-ture projects is the construction of embarkations (sub-marines combat boats destroyers and patrolled-flush) for the governments of Spain Australia and Venezuela
24 norinco (China) Norinco is part of a group of owned companies by the Chinese State dedicated in part to mili-tary production There is evidence that Norinco has mar-keted and cluster munitions produced after May 2008
25 northrop grumman (usa) Northrop Grumman is in-volved with production and maintenance of the Minute-man III nuclear Intercontinental Ballistic Missiles (ICBM) for the US nuclear arsenal It also provides support for the Trident II (D5) system for the US and the UK It is also part of the joint venture that manages the Nevada Na-tional Security Site (NNSS) previously known as the Ne-vada Test Site a key fixture in the US nuclear weapons infrastructure
26 oesia (spain) Their work is in the field of information technology and develops technology applied to the mili-tary sector such as artillery simulators used by countless armies or sensors infrared search and track necessary for searching and automatic target detection a system
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
42 Banks that invest in arms middot Centre Delagraves drsquoEstudis per la Pau R E P O R T n o 2 8
that is already fully operating in the Typhoon European fighter aircraft used by the British German Air Force ITA lianas Spanish and Austrian Saudi Arabia lsquos army has ac-quired 76 of these warplanes which very probably are being used in the Saudi military offensive in Yemeni ter-ritory
27 orbital atk (usa) ATK (also known as Alliant Techsys-tems) is one of the worldrsquos largest manufacturers of am-munition and a leading supplier of precision systems and electronic warfare The company is also active in space and propulsion systems Orbital ATK is also responsible of the restoration of three parts of the Intercontinental Ballistic missile Minuteman III (ICBM) for the USA They are also in a joint venture for the management and operation of the Y-12 National Security Complex in Tennessee and the Pantex in Texas
28 poongsan (south korea) Poongsan a leading South Ko-rean defense company develops military and sporting ammunition There is evidence that the company pro-duced and marketed Dual Purpose Improved Conven-tional Munition (DPICM) K310 used in cluster munitions and marketed K305 and K308 with after May 2008 The company ceased production of the latter two but there is news that it will cease its participation in cluster muni-tions
29 raytheon (usa) Raytheon is involved in a project to ex-tend the lifecycle of guidance systems Trident II nuclear missiles of the US Marine They are as well involved in the support studies of the new long-range missile Standoff W80-4 for the US arsenal
30 safran (France) They are a French high technology multinational specialized in defense and security and aeronautical equipment They produce as well Optron-ics systems specialist periscopes binoculars and infra-red cameras navigation systems for military transport
and combat aircraft helicopters warships submarines armored ve- hicles and artillery systems Safran is part of the joint venture to build nuclear missiles M51 for the French Navy Its subsidiaries Snecma and Sagem provide propulsion systems and navigation for these missiles
31 sener (spain) Sener is a leader in developing missile sys-tems in Spain because it is possible to launch and use of missiles as John Strike Missile and specializes in applica-tions ISR (intelligence surveillance and reconnaissance) applied to missiles as well as military electronics surveil-lance firing systems and control systems for missiles
32 serco (uk) Serco owns one-third of the shares of the joint venture AWE-ML which operates at the Atomic Weapons Establishment in the UK It is responsible for the manufacture and maintenance of warheads for the UK arsenal
33 textron (usa) Textron designs and builds vehicles for ICBM Mi- nuteman III (ICBM) American There is evidence that the company has produced and sold Sensor Fuzer Weapons (SFW) after May 2008 which can detect and attack many fixed and moving targets simultaneously The company considers not about cluster munitions for not conforming the definition of the Convention on Cluster Munitions
34 thales (France) They are a French electronic company dedicated to the development of information systems and services for the aerospace defense and security from equipment and components for telecommunications satellites and unmanned aircraft It is the ninth contrac-tor worldrsquos largest defense and conducts activities with equipment and components for telecommunications satellites drones and manufacture of nuclear weapons In addition Thales is part of a joint venture to build the M -51 nuclear missile launch from submarines for the French navy
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
REPORT report no 12the military industrial complex a parasite on spanish economyPere Ortega and Camino SimarroApril 2012
report n 13 piracy in somalia an excuse or a geopolitical opportunity a different look at the spanish and international military participation against piracyPere Ortega October 2012
report n 14truth and lies in the 2013 spanish military budgetPere OrtegaOctober 2012
report n 15exportaciones espantildeolas de armamento 2002-2011 Cuando la venta de armas es una prioridad poliacutetica (Spanish)Tica Font Eduardo Melero and Camino Simarro January 2013
report n 16las otras violencias en ameacuterica latina (Spanish)Pere Ortega and Moara Crivelente January 2013
report n 17la industria militar en Cataluntildea un deseo insatisfecho (Spanish)Pere Ortega middot June 2013
report n 18spanish arms exports 2003-2012Tica Font Eduardo Melero and Camino SimarroJuly 2013
report n 19la cara oculta del gasto militarel presupuesto militar de 2014Pere Ortega John Doe and xavier BohigasNovember 2013
report n 20evolucioacuten de la banca armada en espantildeaJordi Calvo Rufanges middot October 2013
report n 21el militarismo en el norte de AacutefricaBlanca Camps-Febrer and Pere OrtegaJanuary 2014 (in Spanish)
report n 22rajoyrsquos military policyTomagraves Gisbert Maria de Lluc Bagur and Gemma AmoroacutesFebruary 2014
report n 23military Drones the videogame War With real victimsJordi Calvo Anna Escoda Carles Blanco and Gabriela SerraMarch 2014
report n 24spanish arms exports 2004-2013 Does the government promote illegal arms exportsTica Font Eduardo Melero Camino SimarroJuly 2014
report n 25inertia waste and fraud in the military expenditure spanish Defense Budget analysis in 2015Pere Ortega and Jordi Calvo RufangesDecember 2014
report n 26Fraud and improvisation in spanish military expenditure an analysis of the spanish Defence budget for 2016Pere Ortega and xavier BohigasOctober 2015
report n 27spanish arms exports 2005-2014 Fueling conflicts in the middle eastTica Font Eduardo Melero and Camino SimarroDecember 2015
Carrer erasme de Janer 8 entresol despatx 9 middot 08001 Barcelona middot t 93 441 19 47
www centredelas org middot infocentredelas org
Centre Delagraves drsquoEstudis per la Pau
With the support of
g r a s s r o o t sf o u n d a t i o n
With the support of
g r a s s r o o t sf o u n d a t i o n