leveraged loan league tables

2010 GLOBAL SYNDICATED LOANS LEAGUE TABLES

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Table of Contents

. Introduction1

U.S. Loans. 2

U.S. Leveraged Loans. 3

Canada Loans. 4

EMEA Loans Mandated Arranger. 5

EMEA High Yield Loans Mandated Arranger. 6

EMEA Sponsor-led Lev Loans Mandated

Arranger

. 7

EMEA Investment Grade Loans Mandated

Arranger

. 8

EMEA Loans Book Runner. 9

EMEA High Yield Loans Book Runner. 10

EMEA Sponsor-led Leveraged Loans Book

Runner

. 11

EMEA Investment Grade Loans Book

Runner

. 12

Asia ex-Japan Loans Mandated Arranger. 13

Asia ex-Japan Loans Book Runner. 14

Asia-Pac ex-Japan Loans Mandated

Arranger

. 15

Asia-Pac ex-Japan Loans Book Runner. 16

Australia/NZ Loans Mandated Arranger. 17

Australia/NZ Loans Book Runner. 18

EMEA Islamic Loans Mandated Arranger. 19

EMEA Islamic Loans Book Runner. 20

Bloomberg 2010

01/03/2011

EmailFaxPhoneContact

+1-609-279-5187 [email protected]+1-646-268-5455Paul BandongAmericas

[email protected]+44-20-7073-5305+44-20-7330-7326Charlotte HowellEMEA

[email protected]+852-2977-6167+852-2977-6117Frances LiuAsia-Pac (HK)

Asia-Pac (SG) [email protected]+65-6212-1657+65-6212-1557Steven Poernomo

Bloomberg

©2010 Bloomberg Finance L.P. All rights reserved.

LEAG <GO> LREP <GO> NI LEAG CRL <GO> LMX <GO> LALT <GO>

U.S. Syndicated Loan Market Review

U.S. Syndicated and Leveraged Loan Full Year 2010 Review• The overall U.S. syndicated and leveraged loan market was at itshighest level of both issuance and volume since 2007. Total volumefor 2010 was $986.8 billion, more than double the volume for 2009.Issuance followed a similar trend and increased 92.5% to 2,066deals compared to 1,073 deals in 2009. This is still down 43.7%from the high of $1.8 trillion of volume in 2007 when the marketwas at its peak.

• Leveraged loan volume was also at its highest level since 2007with $377.5 billion in volume over 1,003 deals. Volume more thandoubled over 2009 volume, but was still down 57.1% from the$879.5 billion of issuance in 2007.

• JP Morgan captured 20.1% market share by volume to earn thenumber one position for U.S. syndicated lead arranger for 2010,retaining the number one spot for the fifth year in a row. Bank ofAmerica Merrill Lynch and Citi followed, capturing 20.0% and 9.1%market share, respectively. The top three arrangers capturednearly half the market with 49.2% market share.

• Bank of America Merrill Lynch ranked number one in the U.S.leveraged lead arranger table with 18.7% market share by volume,and captured the position for the second year in a row. JP Morganand Wells Fargo with 14.1% and 7.7% market share, respectively,round out the top three leveraged lead arranger positions.

• The largest new issue syndicated loan for 2010 was the $10.0billion revolver for Johnson & Johnson, led by Citi and JP Morgan.The largest deal for 2010 overall was the amendment for the $21.5billion General Electric revolver. Bank of America, Citi and JPMorgan led the deal that extended the maturity until 2013.

• The largest new issue leveraged loan for the year was the $5.0billion revolver for General Motors. Ten banks including Bank ofAmerica, Barclays, Citi, Credit Suisse, Deutche Bank, GoldmanSachs, JP Morgan, Morgan Stanley, RBC and UBS arranged thetransaction in October.

Rankings & Market ShareUnderwri ter 2010 2009 2008 2007 2006SYNDICATED LOANSJP Morgan 1 (20.1%) 1 1 1 1Bank of America Merri l l Lynch 2 (20.0%) 2Citi 3 (9.1%) 3 3 3 3Wel ls Fargo & Co 4 (8.4%) 4 11 17 17Barclays Capita l 5 (4.2%) 5 9 12 8LEVERAGED LOANS Bank of America Merri l l Lynch 1 (18.7%) 1JP Morgan 2 (14.1%) 2 2 1 1Wel ls Fargo & Co 3 (7.7%) 4 13 17 18Credit Suisse 4 (6.8%) 8 12 5 4Barclays Capita l 5 (6.8%) 7 8 16 19

Year

Top New Issue Transactions - Full Year 2010Issuer, Underwriter Tranche Purpose Date Amt USD (Mln) Industry MaturitySYNDICATED LOANSJohnson & Johnson Revolver General Corp 9/23/10 $10,000 Healthcare 2011CITI, JPMCaterpil lar Inc Term - Bridge Acquisition 12/3/10 $8,600 Construction 2012JPMAlly Bank Revolver General Corp 4/7/10 $7,000 Commercial Bank 2011CITI, JPMLEVERAGED LOANSGeneral Motors Revolver General Corp 10/27/10 $5,000 Auto 2015BAML, BARCLY, CITI, CS, DB, GS, JPM, MS, RBC, UBSUniversal Health Services Revolver, Term Acquisition 11/15/10 $3,450 Hospitals 2016DB, JPMDavita Inc Revolver, Term Refinancing 10/20/10 $3,000 Medical 2016BAML, BARCLY, CS, GS, JPM, WFCAGFS Funding Company Term Refinancing 4/21/10 $3,000 Finance 2015BAML

Bloomberg

U.S. Loans

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010

Underwriter League Tables

22.3 1JP Morgan 555 1 20.1 (2.2) 198,666

18.1 2Bank of America Merrill Lynch 788 2 20.0 1.9 197,424

14.2 3Citi 206 3 9.1 (5.1) 90,092

6.7 4Wells Fargo & Co 451 4 8.4 1.7 83,243

4.0 5Barclays Capital 159 5 4.2 0.2 41,034

3.8 6Deutsche Bank AG 129 6 3.5 (0.3) 34,655

1.5 12Credit Suisse 140 7 3.4 1.9 33,337

2.8 8BNP Paribas Group 113 8 3.3 0.5 32,072

2.3 10RBS 113 9 2.7 0.4 26,789

2.3 9Goldman Sachs & Co 87 10 2.6 0.3 25,851

1.1 13Morgan Stanley 72 11 2.2 1.1 21,673

1.0 15Mitsubishi UFJ Financial 81 12 1.7 0.7 16,832

0.9 19SunTrust Robinson Humphrey 119 13 1.6 0.7 15,399

1.1 14General Electric Capital Corp 155 14 1.5 0.4 15,266

1.0 16PNC Bank 130 15 1.5 0.5 15,017

3.4 7UBS 82 16 1.4 (2.0) 14,218

0.9 17RBC Capital Markets 66 17 1.1 0.2 10,481

1.6 11HSBC Bank PLC 35 18 1.0 (0.6) 9,835

0.6 23KeyBanc Capital Markets 73 19 0.9 0.3 9,065

0.5 25US Bancorp 52 20 0.7 0.2 7,306

TOTAL 100% 100% 2,066 986,791

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

471,709

Basic Materials 4.54%

Consumer Prod/Svcs 34.63%

Financial 17.38%

Industrial 11.17%

Oil/Gas/Elect 17.67%

Tech/Comm 14.61%

Total: 100.00%

INDUSTRY BREAKDOWN

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LEAG <GO> LREP <GO>LEAG <GO>LALT <GO>LMX <GO>LREP <GO>

Bloomberg

U.S. Leveraged Loans

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



14.6 2JP Morgan 220 2 14.1 (0.5) 53,213

9.7 4Wells Fargo & Co 203 3 7.7 (2.0) 29,045

3.1 8Credit Suisse 119 4 6.8 3.7 25,773


5.0 6Deutsche Bank AG 84 6 6.1 1.1 22,836

2.0 12Goldman Sachs & Co 69 7 4.7 2.7 17,778

11.9 3Citi 78 8 4.7 (7.2) 17,629

2.2 10General Electric Capital Corp 143 9 3.6 1.4 13,533

2.1 11Morgan Stanley 52 10 3.6 1.5 13,503

8.9 5UBS 65 11 2.9 (6.0) 11,048

2.9 9BNP Paribas Group 42 12 2.4 (0.5) 8,972

1.6 15RBS 36 13 2.2 0.6 8,480

1.3 16SunTrust Robinson Humphrey 65 14 2.2 0.9 8,370


0.8 19BMO Capital Markets 43 16 1.1 0.3 4,189

1.0 17KeyBanc Capital Markets 41 17 1.1 0.1 4,114

0.2 34Jefferies Group Inc 25 18 1.1 0.9 4,103

0.4 28PNC Bank 25 19 0.9 0.5 3,535

0.7 20US Bancorp 17 20 0.7 - 2,460

TOTAL 100% 100% 1,003 377,446

Includes all eligible U.S. leveraged loans (spread of 300bp or more). Loans must be rated less than investment grade by at least one rating agency or not

rated at all. Volume in USD millions.

169,967



Financial 8.81%

Industrial 10.24%


Tech/Comm 20.81%

Total: 100.00%

INDUSTRY BREAKDOWN

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Bloomberg Canada Syndicated Loan Market Review

Canada Syndicated Loan Full Year 2010 Review

• The Canada syndicated loan market issuance and volume for2010 was up over 2009. Total volume for 2010 increased86.0% to USD $108.8 billion and issuance increased 59.3% to332 deals compared to the same period last year. This was themost active year since 2007 when volume peaked at USD$167.4 billion and 348 issues.$

• The fourth quarter of 2010 was particularly strong, with bothissuance and volume increasing over the same period last year.Total volume in the fourth quarter 2010 more than doubled toUSD $30.3 billion. Issuance increased 59.3% to 93 dealscompared to 59 deals in the same period last year. Overall,h d f h b h $

Rankings & Market Sharethe second quarter of 2010 was the busiest with USD $30.3billion of volume.

• TD Securities captured 21.3% market share by volume with70 issues to earn the number one position for Canadiansyndicated lead arranger for 2010. RBC Capital Markets,Canadian Imperial Bank of Commerce Scotia Capital Inc and

Underwriter Rank Mkt Share (%) Amt USD (Mln) IssuesLEAD ARRANGER ‐ FULL YEAR 2010TD Securi ties 1 21.3 $23,197.02 70RBC Capita l Markets 2 21.0 $22,870.85 70CIBC 3 15.9 $17,354.67 76Scotia Capita l 4 12.4 $13,521.49 63BMO Capita l Markets 5 10 5 $11 445 24 48Canadian Imperial Bank of Commerce, Scotia Capital Inc. and

BMO Capital Markets round out the top five lead arrangerpositions. The top three arrangers together captured morethan a majority of the market, with 58.2% market shareamong them.

• The largest syndicated loan for 2010 was arranged by RBC

BMO Capita l Markets 5 10.5 $11,445.24 48LEAD ARRANGER ‐ FOURTH QUARTER RBC Capita l Markets 1 29.7 $8,991.50 29TD Securi ties 2 22.8 $6,902.35 21CIBC 3 10.1 $3,051.01 21BMO Capita l Markets 4 8.6 $2,597.03 14Scotia Capita l 5 6.8 $2,047.65 13

Capital Markets for Talisman Energy Inc. This transactionconsisted of a USD $3.8 billion Revolver to be used for generalcorporate purposes. RBC also led the $2.4 billion Revolver forCenovus Energy. All three of the top syndicated transactionsfor 2010 were for oil related companies.

Scotia Capita l 5 6.8 $2,047.65 13

Top Syndicated Transactions ‐ Full Year 2010Issuer, Underwriter Tranche Purpose Date Amt USD (Mln) Industry Maturity

SYNDICATED LOANSTalisman Energy Inc Revolver General Corp 11/26/10 $3,770 Oil 2014RBC Expl & ProductionNexen Inc Revolver General Corp 6/21/10 $3,000 Oil 2014TD Expl & Production



TD Expl & ProductionCenovus Energy Inc Revolver General Corp 9/30/10 $2,429 Oil 2014RBC Integrated

Bloomberg

Canada Loans

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010


19.9 2TD Securities 70 1 21.3 1.4 23,197


11.5 4CIBC 76 3 15.9 4.4 17,355

17.7 3Scotia Capital Inc 63 4 12.4 (5.3) 13,522

11.2 5BMO Capital Markets 48 5 10.5 (0.7) 11,445

3.3 6National Bank Financial Inc 29 6 3.8 0.5 4,081

3.3 7JP Morgan 17 7 2.3 (1.0) 2,490

3.0 8Bank of America Merrill Lynch 14 8 1.8 (1.2) 1,929

2.4 9Citi 6 9 1.1 (1.3) 1,232

0.3 18HSBC Bank PLC 5 10 1.0 0.7 1,051

0.7 13RBS 6 11 0.6 (0.1) 687

1.1 11Wells Fargo & Co 6 12 0.6 (0.5) 677

0.1 22GE Capital Markets Canada Ltd 1 13 0.6 0.5 631

0.5 14UBS 5 14 0.6 0.1 606

0.3 17Societe Generale 10 15 0.6 0.3 605

0.2 19BNP Paribas Group 8 16 0.5 0.3 587

- 35Rabobank Nederland 3 17 0.5 0.5 577

1.5 10General Electric Capital Corp 4 18 0.5 (1.0) 529

- -Mitsubishi UFJ Financial 5 19 0.4 - 485

0.3 16Credit Suisse 3 20 0.4 0.1 452

TOTAL 100% 100% 332 108,812

Includes all eligible Canadian loans. Table based on Loan Arranger. Volume in USD millions.

58,499



Financial 5.74%

Industrial 10.99%


Tech/Comm 8.22%

Total: 100.00%

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Bloomberg


Bloomberg



• The overall EMEA Mandated Arranger volume increased, year on year, from USD 575.5 Bln to USD 905.8 Bln for the year– a 57.4% increase on 2009.

• BNP Paribas Group ranked number one in the EMEA Mandated Arranger tables, having captured 6.4% of the market with USD 58.0 Bln, followed by Credit Agricole (5.1%, USD 46.4 Bln) and RBS (5.0%, USD 44.9 Bln).

• The overall EMEA Book Runner volume increased, year on year, from USD 458.6 Bln to USD 734.8 Bln for the year– a 60.2% increase on 2009.

• BNP Paribas Group ranked number one in the EMEA Book Runner tables, having captured 8.2% of the market with USD 59.9 Bln, followed by Societe Generale (6.5%, USD 47.5 Bln) and Credit Agricole (6.0%, USD 44.4 Bln).

• Barclays Capital ranked number one in the EMEA Loans Facility Agent tables with a market share of 11.8% (USD 91.0 Bln), followed by Deutsche Bank (8.4%, USD 65.0 Bln) and RBS (6.7%, USD 52.0 Bln).

• The largest syndicated loan of 2010 was the USD 45 Bln BHP Billiton PLC facility to finance the acquisition of Potash Corp, underwritten by Banco Santander, Barclays Capital, BNP Paribas Group, JP Morgan, Royal Bank of Scotland & TD Securities. The underwriters were joined by a further 18 banks in syndication.

• Issuers from the United Kingdom raised the largest amount, by volume, of loans during 2010 (USD 183.1 Bln), followed by France (USD 130.9 Bln) & Spain (USD 108.4 Bln).

• Industrial sector issuers comprised the largest share of issues during the year with a 17.1% market share, followed by Non-cyclical consumer industry issuers (15.2%) & Financial issuers (13.2%).

EMEA Syndicated Loan Market Review

Largest EMEA Deals - 2010Issuer / Mandated Arranger Date Amount (Mln) Industry Securi ty IDBHP Bi l l i ton PLC 8/18/2010 USD 45,000 Mining BF678420

ANZ-BARCLY-BBVA-BNPPAR-BSSA-CACIB-CBA-CIBC-ING-INTES-JPM-LLOYDS-MEDBCA-MIZUHO-MUFGNAB-RBS-SCB-SCOTIA-SG-SMFGRP-TDSECS-UBS-UNICGP-WESTPC

Sanofi -Aventis SA 10/2/2010 USD 15,000 Pharmaceutica ls BF690155BAML-BNPPAR-BSSA-CACIB-DB-HSBCL-JPM-MUFG-NATIX-RBS-SG

Enel SpA 4/19/2010 EUR 10,000 Electric BF594804BAML-BARCLY-BBVA-BNPPAR-BPVN-BRGAMO-BSSA-CACIB-CAIXA-CAJAMM-CITI-CRBERG-CS-CTRBCA-DB-GSING-INTES-JPM-MEDBCA-MIZUHO-MPS-MS-MUFG-NATIX-RBS-SG-SMFGRP-UBS-UNICGP

Anheuser-Busch InBev NV 2/26/2010 USD 13,000 Beverages BF585273BAML-BARCLY-BNPPAR-BSSA-DB-ING-INTES-JPM-MIZUHO-MUFG-RBS-SG

Alstom SA 4/16/2010 EUR 8,275 Machinery-Divers i fiedBF613283BARCLY-BNPPAR-CACIB-CIO-HSBCL-NATIX-SG

Telefonica SA 7/28/2010 EUR 8,000 Telecommunications BF656702BAYLB-BBVA-BNPPAR-BSSA-CAIXA-CITI-HSBCL-INTES-LLOYDS-MIZUHO-MUFG-RBS-SG-SMFGRP-UBS-UNICGP

Glencore International AG 5/11/2010 USD 10,260 Dis tribution/WholesaBF597953ABN-BAML-BARCLY-BNPPAR-BSSA-CACIB-CITI-COBA-CS-DB-DBS-HSBCL-ING-JPM-LLOYDS-MS-RABORBS-SCB-SG-UBS

Daimler AG 10/29/2010 EUR 7,000 Auto Manufacturers BF696138BAML-BARCLY-BAYLB-BBVA-BNPPAR-BSSA-CACIB-CCBBK-CITI-COBA-DANSKE-DB-DZBK-GS-HELABA-HSBCLING-INTES-JPM-LBBW-MIZUHO-MUFG-RBCCM-RBS-SCB-SCOTIA-SG-SMFGRP-TDSECS-UNICGP-WESTLB

Sanofi -Aventis SA 7/6/2010 EUR 7,000 Pharmaceutica ls BF655937BAML-BNPPAR-BSSA-CACIB-CITI-DB-HSBCL-ING-INTES-JPM-MUFG-NATIX-RBS-SG-UNICGP

Saudi Aramco Tota l Refining & Petrochemica l Co6/24/2010 USD 8,500 Oi l&Gas BF492523

ALINMA-APIC-ARABBK-ARABNB-BARCLY-CACIB-CITI-DB-EXDEVC-FRANSI-GIB-HSBCL-ISLDEVJAZIRA-JPM-KFW-MIZUHO-MUFG-NATLCB-RAJHI-RBS-RIYAD-SAMBA-SAUDIH-SG-SIBC

Year-end 2010 Review

$0

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2009 2010EMEA Mandated Arranger - VolumeAmount (USD Mln)EMEA Mandated Arranger - VolumeAmount (USD Mln)EMEA Mandated Arranger - VolumeAmount (USD Mln)

Bloomberg

EMEA Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



5.9 3Credit Agricole CIB 280 2 5.1 (0.8) 46,356

6.9 2RBS 287 3 5.0 (1.9) 44,910

4.3 6Societe Generale 265 4 4.6 0.3 41,473

4.7 4HSBC Bank PLC 243 5 4.2 (0.5) 38,054

3.9 7Barclays Capital 212 6 3.9 - 34,942

4.5 5Banco Santander SA 241 7 3.8 (0.7) 34,452

3.4 8Deutsche Bank AG 187 8 3.6 0.2 32,250

2.8 11ING Groep NV 240 9 3.5 0.7 31,878

3.1 9Citi 168 10 3.2 0.1 28,840

2.9 10Commerzbank AG 197 11 2.9 - 26,448

2.5 12JP Morgan 107 12 2.9 0.4 26,167

2.3 14UniCredit Group 183 13 2.7 0.4 24,407



2.3 15Natixis 165 16 2.3 - 20,992

2.4 13Banco Bilbao Vizcaya Argentaria 200 17 2.2 (0.2) 19,791

2.2 16Lloyds TSB Corporate Markets 137 18 2.1 (0.1) 18,992

1.5 18Intesa Sanpaolo SpA 118 19 2.0 0.5 18,254

0.6 31Sumitomo Mitsui Financial Group Inc 74 20 1.3 0.7 12,153

TOTAL 100% 100% 1,260 905,842

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

575,459



Financial 14.08%

Government 1.14%

Industrial 17.19%


Tech/Comm 9.97%

Total: 100.00%

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Bloomberg

EMEA High Yield Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

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MKT

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20092010




5.1 5Deutsche Bank AG 29 3 4.9 (0.2) 5,253

4.3 6JP Morgan 15 4 4.3 - 4,573

2.2 13ING Groep NV 41 5 4.2 2.0 4,556


3.0 8Credit Agricole CIB 28 7 4.2 1.2 4,535

9.7 2RBS 24 8 4.0 (5.7) 4,299

6.3 3HSBC Bank PLC 30 9 3.8 (2.5) 4,064

1.9 15UniCredit Group 25 10 3.8 1.9 4,036

3.1 7Commerzbank AG 26 11 3.6 0.5 3,815

1.3 19Goldman Sachs & Co 11 12 2.9 1.6 3,101


2.9 9Citi 17 14 2.3 (0.6) 2,481



1.5 16WestLB AG 13 17 1.8 0.3 1,940

0.6 35Natixis 24 18 1.6 1.0 1,715

0.1 95Mediobanca 7 19 1.5 1.4 1,661

0.1 70Morgan Stanley 9 20 1.5 1.4 1,660

TOTAL 100% 100% 169 107,285

Includes all eligible European, Middle Eastern and African High Yield loans (spread of 300bp or more). Loans must be rated less than investment grade

by at least one rating agency or not rated at all. Volume in USD millions.

98,042



Financial 4.26%

Industrial 19.42%

Oil/Gas/Elect 8.78%

Tech/Comm 23.64%

Total: 100.00%

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Bloomberg

EMEA Sponsor-led Lev Loans Mandated Arranger

1/1/10 - 12/31/10

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12.9 2HSBC Bank PLC 12 2 7.4 (5.5) 1,220

2.8 4UniCredit Group 8 3 6.4 3.6 1,066

0.7 22Nomura Holdings Inc 5 4 6.0 5.3 995


40.5 1BNP Paribas Group 14 6 5.5 (35.0) 903

- -Deutsche Bank AG 4 7 5.3 - 875

1.9 8ING Groep NV 10 8 4.2 2.3 687

2.3 5Credit Agricole CIB 13 9 3.8 1.5 635

- -Goldman Sachs & Co 3 10 3.4 - 562

1.4 11Commerzbank AG 9 11 3.3 1.9 546

- -UBS 2 12 3.1 - 511

- -Morgan Stanley 2 13 2.4 - 404

0.6 25RBS 3 14 2.3 1.7 379

0.4 33Natixis 8 15 2.2 1.8 363

0.5 28Rabobank Nederland 3 16 1.9 1.4 315

0.5 28General Electric Capital Corp 3 17 1.8 1.3 295

1.0 13Barclays Capital 1 18 1.8 0.8 294

- -Citi 3 19 1.7 - 287

- -Credit Suisse 2 20 1.6 - 271

TOTAL 100% 100% 50 16,525

Includes all eligible sponsor-led leveraged loans where the loan purpose is an acquisition, LBO, MBO or Recapitalization and the initial spread is 350

basis points or more above the applicable benchmark. Volume in USD millions.

7,043


Financial 19.71%

Industrial 5.79%

Tech/Comm 12.07%

Total: 100.00%

INDUSTRY BREAKDOWN

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

0

10

20

30

40

50

60

70

80

2007

Q1

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2007

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

EMEA Investment Grade Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



6.9 3Societe Generale 84 2 5.4 (1.5) 21,131

7.3 2RBS 93 3 5.2 (2.1) 20,247


4.8 5HSBC Bank PLC 72 5 4.7 (0.1) 18,311

4.0 8Deutsche Bank AG 75 6 4.6 0.6 18,120

4.1 7Banco Santander SA 69 7 4.5 0.4 17,446

3.9 9Citi 73 8 4.5 0.6 17,396

4.4 6Barclays Capital 70 9 4.2 (0.2) 16,235


2.7 16ING Groep NV 54 11 3.3 0.6 13,073


3.8 10JP Morgan 46 13 3.3 (0.5) 12,705


2.8 15Commerzbank AG 53 15 2.7 (0.1) 10,614


3.0 14UniCredit Group 42 17 2.6 (0.4) 10,157

3.0 13Natixis 32 18 2.5 (0.5) 9,918


0.1 57Mizuho Financial Group Inc 22 20 1.8 1.7 7,104

TOTAL 100% 100% 161 390,601

Includes all eligible EMEA Investment Grade loans where the initial spread is less than 350 basis points above the applicable benchmark. Volume in USD

millions.

200,287



Financial 10.82%

Government 2.47%

Industrial 13.45%


Tech/Comm 8.13%

Total: 100.00%

INDUSTRY BREAKDOWN

0

40,000

80,000

120,000

160,000

200,000

240,000

20

30

40

50

60

70

80

90

100

2007

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

EMEA Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010





7.7 2RBS 171 4 5.3 (2.4) 39,122

4.3 6HSBC Bank PLC 132 5 4.6 0.3 33,565

2.5 13JP Morgan 70 6 4.2 1.7 30,613

4.1 8Deutsche Bank AG 114 7 4.0 (0.1) 29,429

3.8 9Citi 102 8 4.0 0.2 29,423



3.4 11ING Groep NV 128 11 3.4 - 25,193

3.7 10Commerzbank AG 111 12 3.2 (0.5) 23,785


2.5 14UniCredit Group 87 14 2.5 - 18,594

2.4 15Natixis 90 15 2.5 0.1 18,569



2.0 18Lloyds TSB Corporate Markets 82 18 2.2 0.2 16,227


1.4 19Nordea 57 20 1.4 - 10,184

TOTAL 100% 100% 853 734,750


458,561



Financial 11.70%

Industrial 16.87%


Tech/Comm 10.13%

Total: 100.00%

INDUSTRY BREAKDOWN

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

50

100

150

200

250

300

350

400

450

2007

Q1

2007

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2008

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2009

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USD (Mln) / #Deals



Bloomberg

EMEA High Yield Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



1.5 18Goldman Sachs & Co 11 2 7.4 5.9 7,116

3.4 8Citi 14 3 6.5 3.1 6,301

5.9 5Deutsche Bank AG 24 4 6.4 0.5 6,215


3.0 9JP Morgan 12 6 5.3 2.3 5,099


7.1 3HSBC Bank PLC 17 8 4.3 (2.8) 4,124


11.1 2RBS 17 10 4.0 (7.1) 3,906

2.8 11ING Groep NV 24 11 3.7 0.9 3,535

2.7 12UniCredit Group 15 12 3.5 0.8 3,338


0.6 36Morgan Stanley 8 14 2.4 1.8 2,341

0.1 53Nomura Holdings Inc 6 15 2.3 2.2 2,230



3.7 7Commerzbank AG 16 18 1.8 (1.9) 1,691

2.5 13Nordea 8 19 1.6 (0.9) 1,567

1.9 16Credit Suisse 8 20 1.5 (0.4) 1,434

TOTAL 100% 100% 134 96,519

Includes all eligible European, Middle Eastern and African High Yield loans (spread of 300bp or more). Loans must be rated less than investment grade

by at least one rating agency or not rated at all. Volume in USD millions.

84,054



Financial 4.23%

Industrial 15.09%

Oil/Gas/Elect 9.06%

Tech/Comm 25.78%

Total: 100.00%

INDUSTRY BREAKDOWN

0

20,000

40,000

60,000

80,000

100,000

120,000

0

20

40

60

80

100

120

140

160

2007

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USD (Mln) / #Deals



Bloomberg

EMEA Sponsor-led Leveraged Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



1.9 8Nomura Holdings Inc 5 2 9.7 7.8 1,480

15.1 2HSBC Bank PLC 7 3 7.9 (7.2) 1,212

0.5 16UniCredit Group 7 4 7.5 7.0 1,143



- -Deutsche Bank AG 4 7 6.1 - 929

2.8 5Credit Agricole CIB 11 8 4.5 1.7 688

- -Goldman Sachs & Co 3 9 4.0 - 604

- -UBS 2 10 3.3 - 511

- -Morgan Stanley 2 11 3.1 - 469

1.1 9Commerzbank AG 6 12 2.9 1.8 442

2.3 6ING Groep NV 6 13 2.8 0.5 435

- -Credit Suisse 2 14 2.6 - 391

0.6 13Natixis 6 15 2.1 1.5 324

- -Citi 2 16 2.1 - 322

- -Barclays Capital 1 17 1.9 - 294

- -RBS 1 17 1.9 - 294

- -Skandinaviska Enskilda Banken 2 19 1.7 - 252

2.9 4Bank of America Merrill Lynch 1 20 1.4 (1.5) 210

TOTAL 100% 100% 42 15,293

Includes all eligible sponsor-led leveraged loans where the loan purpose is an acquisition, LBO, MBO or Recapitalization and the initial spread is 350

basis points or more above the applicable benchmark. Volume in USD millions.

5,166


Financial 20.26%

Industrial 6.21%

Tech/Comm 10.85%

Total: 100.00%

INDUSTRY BREAKDOWN

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

0

10

20

30

40

50

60

70

80

2007

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2007

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2009

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

EMEA Investment Grade Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



11.2 2Societe Generale 70 2 8.2 (3.0) 28,925


4.9 6HSBC Bank PLC 47 4 4.7 (0.2) 16,696

8.8 3RBS 59 5 4.7 (4.1) 16,653

3.9 9JP Morgan 32 6 4.6 0.7 16,353

4.2 7Citi 48 7 4.6 0.4 16,126

3.2 12Deutsche Bank AG 47 8 4.2 1.0 14,717





2.8 14ING Groep NV 37 13 3.4 0.6 12,000

2.9 13Natixis 26 14 3.2 0.3 11,345

2.1 16Commerzbank AG 31 15 3.2 1.1 11,280


3.3 11UniCredit Group 30 17 2.7 (0.6) 9,653


- -Mizuho Financial Group Inc 13 19 1.7 - 5,952


TOTAL 100% 100% 128 353,426

Includes all eligible EMEA Investment Grade loans where the initial spread is less than 350 basis points above the applicable benchmark. Volume in USD

millions.

159,284



Financial 10.97%

Government 1.22%

Industrial 12.13%


Tech/Comm 7.19%

Total: 100.00%

INDUSTRY BREAKDOWN

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

10

20

30

40

50

60

70

80

2007

Q1

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2009

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg Asia Syndicated Loans Markets Review

Asia ex-Japan Syndicated LoansFull Year – 2010 Review• Asia syndicate lending for 2010 totaled USD 289 2 billion This was a 70% increase

Asia Ex‐Japan Syndicated Loans

• Asia syndicate lending for 2010 totaled USD 289.2 billion. This was a 70% increasefrom USD 170.4 billion in 2009. The total number of loan issuance also increased by48% to 1045 deals.

• Taiwan High Speed Rail’s TWD 377.5 billion (USD 11.8 billion equivalent), which wascompleted during the first quarter of 2010, remains the largest Asia ex-Japan dealsigned during the year. The Taiwan High Speed deal was solely led by Bank of Taiwanhelping the bank top the 2010 Tai an loans rankings ith 27 9% market sharehelping the bank top the 2010 Taiwan loans rankings with 27.9% market share.

• Total issuance for Asia ex-Japan was led by India with a total of 219 deals andproceeds totaling USD 88.4 billion. Taiwan came in second with a total of 269 issueswhich amounted to USD 53.6 billion.

• Six out of the top 10 deals from Asia ex-Japan were syndicated in the Indian market,raising USD 21.5 billion which represented 7.4% of the total volume of the Asia ex-Japan

Asia Ex‐Japan Top 10 Syndicated Loans

Borrower Country Signing Date Amt USD(M)raising USD 21.5 billion which represented 7.4% of the total volume of the Asia ex Japanregion.

• State Bank of India ranked first for a fourth consecutive year on the Asia ex-Japansyndicated loans table by arranging 89 deals in 2010. Bank of Taiwan and Bank of Chinaranked second and third respectively.

• Two of the top 10 deals were concluded in Hong Kong. The refinancing deal for NobleG l d b S d d Ch d B k HSBC DBS d 19 h b k Th

TAIWAN HIGH SPEED RAIL TW 1/8/2010 $11,844

BHARTI AIRTEL LTD IN 3/21/2010 $7,500

ESSAR STEEL LIMITED IN 8/14/2010 $3,705

COASTAL ANDHRA POWER LTD IN 7/7/2010 $3,019

HONGSA POWER CO LTD LA 8/5/2010 $2,894

Group was co-led by Standard Chartered Bank, HSBC, DBS and 19 other banks. TheSun Hung Kai Property Financial Services Ltd deal raised HKD 18.1 billion (USD 2.3billion equivalent). The loan was guaranteed by Sun Hung Kai Properties Ltd and co-ledby 20 banks in Hong Kong including Bank of China, HSBC, BTMU, OCBC, Bank ofCommunications, etc.

KSK MAHANADI POWER CO LTD IN 11/20/2010 $2,681

NOBLE GROUP LTD HK 12/1/2010 $2,542

SUZLON ENERGY LTD IN 5/11/2010 $2,346

SUN HUNG KAI PROP (FIN) HK 3/30/2010 $2,334

JINDAL POWER LTD IN 3/26/2010 $2,223

Australia & New Zealand Syndicated Loans• Australia & New Zealand lending for 2010 totaled USD 78.4 billion. This was a 53% increase fromUSD 51.3 billion in 2009. The total number of loans closed at 176 deals, a 20% increase compared to2009.

• The largest deal was Westfield Retail Group. The AUD 3.7 billion (USD 3.7 billion equivalent) dealC C S S


was co-arranged by Citigroup, Credit Suisse and Morgan Stanley.

• ANZ Banking Group topped the table, occupying a market share of 16.5% with 116 deals amountingto USD 13.0 billion. Westpac ranked second with 15.2% of the market share.

Bloomberg

Asia ex-Japan Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010


16.4 1State Bank of India 89 1 12.2 (4.2) 35,307

1.0 29Bank of Taiwan 80 2 5.3 4.3 15,191

3.9 4Bank of China 82 3 5.1 1.2 14,731

4.8 3IDBI Bank Ltd 28 4 4.9 0.1 14,238

2.5 7HSBC Bank PLC 148 5 4.2 1.7 12,145

1.7 12Axis Bank Ltd 48 6 3.7 2.0 10,605

2.6 6Standard Chartered PLC 147 7 3.4 0.8 9,874

2.9 5DBS Group Holdings Ltd 110 8 2.9 - 8,375


1.8 10Oversea-Chinese Banking Corp 82 10 2.4 0.6 6,944


2.4 8Korea Development Bank 39 12 2.2 (0.2) 6,387

0.1 95ICICI 15 13 1.9 1.8 5,576

1.3 21ANZ Banking Group 68 14 1.9 0.6 5,365




1.3 20Mega International Commercial Bank 112 18 1.4 0.1 4,139

1.5 15Land Bank of Taiwan 105 19 1.4 (0.1) 4,018

1.2 24Taipei Fubon Bank 90 20 1.3 0.1 3,886

TOTAL 100% 100% 1,045 289,152

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

170,446



Financial 26.18%

Industrial 19.50%


Tech/Comm 13.73%

Total: 100.00%

INDUSTRY BREAKDOWN

20,000

30,000

40,000

50,000

60,000

70,000

80,000

100

120

140

160

180

200

220

240

260

280

300

2007

Q1

2007

Q2

2007

Q3

2007

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2008

Q2

2008

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2009

Q1

2009

Q2

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

Asia ex-Japan Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



1.4 18Bank of Taiwan 63 2 7.2 5.8 15,327

5.9 3IDBI Bank Ltd 23 3 6.4 0.5 13,577

2.3 9Axis Bank Ltd 43 4 5.6 3.3 11,991

2.4 8Bank of China 27 5 5.2 2.8 11,151


2.9 7HSBC Bank PLC 71 7 4.1 1.2 8,763

0.1 71ICICI 12 8 2.5 2.4 5,396


1.9 11Taiwan Cooperative Bank 93 10 2.3 0.4 4,827

3.7 4DBS Group Holdings Ltd 49 11 2.1 (1.6) 4,475



1.7 12Mega International Commercial Bank 94 14 1.8 0.1 3,789

1.7 13Taipei Fubon Bank 73 15 1.7 - 3,710


2.0 10Land Bank of Taiwan 90 17 1.7 (0.3) 3,592

1.0 26China Citic Bank 8 18 1.6 0.6 3,418



TOTAL 100% 100% 717 213,575

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

120,885



Financial 21.09%

Industrial 21.07%


Tech/Comm 14.77%

Total: 100.00%

INDUSTRY BREAKDOWN

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

55,000

60,000

60

80

100

120

140

160

180

200

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

Q1

2008

Q2

2008

Q3

2008

Q4

2009

Q1

2009

Q2

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Q1

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

Asia-Pac ex-Japan Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010




3.4 8Bank of China 86 3 4.2 0.8 15,298

0.8 35Bank of Taiwan 80 4 4.1 3.3 15,191

2.3 10HSBC Bank PLC 182 5 4.0 1.7 14,701

3.7 5IDBI Bank Ltd 28 6 3.9 0.2 14,238

4.0 4Westpac Banking 108 7 3.4 (0.6) 12,360

1.3 18Axis Bank Ltd 49 8 2.9 1.6 10,780

3.5 6National Australia Bank Ltd 104 9 2.9 (0.6) 10,554

3.5 7Commonwealth Bank Australia 92 10 2.7 (0.8) 10,101




2.3 9DBS Group Holdings Ltd 116 14 2.4 0.1 8,856






0.1 107ICICI 15 20 1.5 1.4 5,576

TOTAL 100% 100% 1,221 367,580

Includes all eligible loans from Asia Pacific excluding Japan. Volume in USD millions.

221,496



Financial 26.55%

Industrial 19.79%


Tech/Comm 12.43%

Total: 100.00%

INDUSTRY BREAKDOWN

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

110,000

120,000

120

160

200

240

280

320

360

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

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2008

Q2

2008

Q3

2008

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2009

Q1

2009

Q2

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

Asia-Pac ex-Japan Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



1.1 26Bank of Taiwan 63 2 6.1 5.0 15,327

4.9 3IDBI Bank Ltd 23 3 5.4 0.5 13,577

2.0 13Axis Bank Ltd 44 4 4.9 2.9 12,166

2.5 11Bank of China 28 5 4.6 2.1 11,540


2.5 8HSBC Bank PLC 77 7 3.8 1.3 9,594


3.4 5Westpac Banking 28 9 2.4 (1.0) 6,034

0.1 78ICICI 12 10 2.2 2.1 5,396




1.6 16Taiwan Cooperative Bank 93 14 1.9 0.3 4,827

1.7 14RBS 24 15 1.8 0.1 4,563


3.2 6DBS Group Holdings Ltd 50 17 1.8 (1.4) 4,508



0.5 44Citi 26 20 1.6 1.1 3,962

TOTAL 100% 100% 775 250,718

Includes all eligible loans from Asia Pacific excluding Japan. Volume in USD millions.

146,209



Financial 23.76%

Industrial 20.31%


Tech/Comm 13.66%

Total: 100.00%

INDUSTRY BREAKDOWN

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

60

80

100

120

140

160

180

200

220

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

Q1

2008

Q2

2008

Q3

2008

Q4

2009

Q1

2009

Q2

2009

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2009

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2010

Q1

2010

Q2

2010

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2010

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

Australia/NZ Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010


16.8 1ANZ Banking Group 116 1 16.5 (0.3) 12,974

16.7 2Westpac Banking 101 2 15.2 (1.5) 11,892



1.5 14HSBC Bank PLC 34 5 3.3 1.8 2,556


2.8 6Mitsubishi UFJ Financial 22 7 2.8 - 2,205


2.0 10RBS 13 9 2.4 0.4 1,852

0.5 26Citi 9 10 2.4 1.9 1,847


3.4 5Credit Suisse 4 12 2.0 (1.4) 1,594

1.0 17JP Morgan 11 13 1.7 0.7 1,370

- -Morgan Stanley 1 14 1.6 - 1,233

0.7 20Lloyds TSB Corporate Markets 10 15 1.3 0.6 995

0.4 32Bank of America Merrill Lynch 9 16 1.2 0.8 943


1.9 12Mizuho Financial Group Inc 12 18 1.1 (0.8) 886

0.7 23Banco Bilbao Vizcaya Argentaria 8 19 1.0 0.3 792

0.7 22Natixis 9 20 1.0 0.3 769

TOTAL 100% 100% 176 78,428

Includes all eligible syndicated loans from Australia and New Zealand borrowers. Includes both domestic & foreign currencies. Volume in USD millions.

ABN Amro transactions for Australia and New Zealand were included under RBS.

51,254



Financial 27.89%

Industrial 20.86%


Tech/Comm 7.65%

Total: 100.00%

INDUSTRY BREAKDOWN

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

20

30

40

50

60

70

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

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2008

Q2

2008

Q3

2008

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2009

Q1

2009

Q2

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2010

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2010

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2010

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QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

Australia/NZ Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010



19.5 1Westpac Banking 25 2 15.2 (4.3) 5,726



3.5 6RBS 6 5 6.5 3.0 2,462

0.5 21JP Morgan 6 6 5.9 5.4 2,220

6.9 5Credit Suisse 3 7 4.6 (2.3) 1,722


1.1 12Citi 3 9 3.8 2.7 1,445

- -Morgan Stanley 1 10 3.3 - 1,233

0.6 19HSBC Bank PLC 7 11 2.8 2.2 1,054

1.7 11BNP Paribas Group 5 12 1.6 (0.1) 588

2.7 7Bank of China 1 13 1.0 (1.7) 389

0.6 15Bank of America Merrill Lynch 3 14 0.8 0.2 302

1.7 10Mizuho Financial Group Inc 3 15 0.7 (1.0) 276

1.0 13Sumitomo Mitsui Financial Group Inc 2 16 0.7 (0.3) 265

- -Natixis 3 17 0.6 - 210

- -Societe Generale 2 18 0.5 - 177

0.3 25Axis Bank Ltd 1 19 0.5 0.2 175

0.5 20Credit Agricole CIB 2 20 0.4 (0.1) 160

TOTAL 100% 100% 58 37,699

Includes all eligible syndicated loans from Australia and New Zealand borrowers. Includes both domestic & foreign currencies. Volume in USD millions.

ABN Amro transactions for Australia and New Zealand were included under RBS.

25,131



Financial 39.66%

Government 1.18%

Industrial 15.48%

Oil/Gas/Elect 9.35%

Tech/Comm 7.04%

Total: 100.00%

INDUSTRY BREAKDOWN

0

4,000

8,000

12,000

16,000

20,000

24,000

28,000

4

8

12

16

20

24

28

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

Q1

2008

Q2

2008

Q3

2008

Q4

2009

Q1

2009

Q2

2009

Q3

2009

Q4

2010

Q1

2010

Q2

2010

Q3

2010

Q4

QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

EMEA Islamic Loans Mandated Arranger

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010


5.7 6HSBC Bank PLC 4 1 19.1 13.4 1,001

7.2 2Standard Chartered PLC 3 2 17.5 10.3 914

1.7 14WestLB AG 4 3 6.6 4.9 345

0.5 34Abu Dhabi Islamic Bank 2 4 6.5 6.0 339

- -Al-Salam Bank 1 5 4.6 - 240

- -Arab Banking Corp 3 6 4.5 - 234

4.8 9Al Hilal Bank 1 7 3.5 (1.3) 184

3.0 11Noor Islamic Bank 2 8 3.1 0.1 164

- -Al Khaliji 1 9 3.0 - 155

1.4 18RBS 2 10 2.9 1.5 153

0.3 37Masraf Al Rayan 1 11 1.9 1.6 100

- -Arab Bank PLC 2 12 1.9 - 98

- -Gulf International Bank BSC 2 12 1.9 - 98

0.9 21Al Rajhi Holdings WLL 1 14 1.0 0.1 53

- -Alinma Bank 1 14 1.0 - 53

- -Arab National Bank 1 14 1.0 - 53

- -Arab Petroleum Investments Corp 1 14 1.0 - 53

- -Bank Al-Jazira 1 14 1.0 - 53

6.0 5Banque Saudi Fransi 1 14 1.0 (5.0) 53

- -Barclays Capital 1 14 1.0 - 53

TOTAL 100% 100% 13 5,233


8,038

Financial 59.47%

Industrial 13.22%


Total: 100.00%

INDUSTRY BREAKDOWN

0

2,000

4,000

6,000

8,000

10,000

12,000

0

2

4

6

8

10

12

14

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

Q1

2008

Q2

2008

Q3

2009

Q1

2009

Q2

2009

Q3

2009

Q4

2010

Q1

2010

Q2

2010

Q3

2010

Q4

QUARTERLY VOLUME

USD (Mln) / #Deals



Bloomberg

EMEA Islamic Loans Book Runner

1/1/10 - 12/31/10

FIRM RANKMKT

SHARE

DEAL

COUNT

MKT

SHARE

RANK

MKT

SHARE

CHG (%)

VOLUME

USD (Mln)

20092010


7.8 4Standard Chartered PLC 3 1 32.3 24.5 914

0.6 20HSBC Bank PLC 2 2 28.1 27.5 795

2.8 10WestLB AG 4 3 12.2 9.4 345

- -Abu Dhabi Islamic Bank 1 4 11.0 - 310

- -Arab Banking Corp 2 5 5.8 - 164

3.8 8Noor Islamic Bank 2 5 5.8 2.0 164

- -Arab Bank PLC 1 7 1.6 - 45

0.7 18BNP Paribas Group 1 7 1.6 0.9 45

- -Gulf International Bank BSC 1 7 1.6 - 45

TOTAL 100% 100% 8 2,827


7,475

Financial 88.50%

Industrial 11.50%

Total: 100.00%

INDUSTRY BREAKDOWN

0

2,000

4,000

6,000

8,000

10,000

12,000

0

2

4

6

8

10

12

2007

Q1

2007

Q2

2007

Q3

2007

Q4

2008

Q1

2008

Q2

2008

Q3

2009

Q1

2009

Q2

2009

Q3

2009

Q4

2010

Q1

2010

Q2

2010

Q3

2010

Q4

QUARTERLY VOLUME

USD (Mln) / #Deals



BLOOMBERG’S 2010 GLOBAL SYNDICATED LOANS ELIGIBILITY CRITERIA

BLOOMBERG AMERICAS SYNDICATED LOAN ELIGIBILITY CRITERIA Bloomberg requires all syndicated loans to be signed and closed in order to receive credit in the Bloomberg Americas Syndicated League Tables. Each bank’s submissions must be received in accordance with Bloomberg’s Syndicated Loans League Schedule each quarter in order to receive credit in the Bloomberg Syndicated Loan Americas League Tables. Any subsequent submissions received will not be included in the release, but will be updated in the Bloomberg Professional Syndicated Loan League Tables. The following details are requested to be provided for each deal that a bank submits for credit: 1. Borrower Name 9. Signing Date 2. Borrower Nationality 10. Tenor 3. Borrower Industry 11. Purpose 4. Facility Amount 12. Syndicated List and Titles 5. Tranche Amounts 13. Pricing and Fees 6. Loan Types 14. Sponsor 7. Currency 15. Guarantor/Obligor 8. Rank 16. Collateral Bloomberg’s Americas Syndicated League Tables are based on the principal borrower’s country of incorporation. Bloomberg reserves the right to determine the credit awarded, if any, to a particular bank, and to request additional documentation if needed. Amendments and Amended & Restated Criteria (Americas) Bloomberg will award League Table credit to existing deals that are amended or amended & restated, each strictly at the lender’s option, and not as a result of events already accounted for within the original credit agreement. League credit will be awarded at the tranche level, for the following criteria:

1. Reduction in Pricing 2. Full Release of Security 3. Extension of Maturity: For a period of 90 days or more only 4. Increase in Deal Size: Increases will be credited on an incremental portion. If criteria 1, 2 or 3 outlined above occurs, in

addition to criteria 4, credit will be awarded on the full facility amount.

Eligible Roles & Credit for Bloomberg’s Syndicated Americas Arranger Table Hierarchy for awarding credit:

1. Book Runner 2. Joint Book Runner 3. Book Manager 4. Joint Book Manager 5. Lead Arranger 6. Co-Lead Arranger 7. Arranger 8. Co-Arranger

Full credit will be awarded to the sole bank satisfying the highest of the above titles. Pro-rata credit will be given if multiple banks share the highest title. Eligible Roles for Bloomberg’s Syndicated Americas Agent Table Agent titles eligible for credit:

1. Administrative Agent 2. Syndication Agent 3. Document Agent 4. Co- Administrative Agent 5. Co-Syndication Agent 6. Co-Documentation Agent

Full credit will be awarded if only one bank is listed with one of the above titles. Pro-rata credit will be awarded if multiple banks share the highest title. If none of the above titles are provided in the submission and only the agent role is listed, full credit will be awarded to that agent bank.

Bloomberg’s Syndicated Americas Leveraged Tables Deals will be eligible for Bloomberg‘s Americas Leveraged Tables if:

1. The borrower's senior debt has a non-investment grade rating by one or more rating agency (i.e. rating of Ba1 & below by Moody’s or BB+ & below by S&P) and the spread at close on the deal is greater than or equal to 300 basis points above US/CAD LIBOR

2. And/or the loan is not rated and the spread at close is greater than or equal to 300 basis points above US/CAD LIBOR Bloomberg’s Syndicated Americas Investment Grade Tables Deals will be eligible for the Bloomberg‘s Americas Investment Grade Tables if:

1. All ratings are investment grade by all rating agencies (i.e. a rating of Aaa – Baa3 by Moody’s and AAA – BBB- by S&P)

Exclusions to Bloomberg’s Americas League Tables The following deals will not be included in Bloomberg’s Syndicated Americas League Tables:

1. Bilateral transactions 2. Cancelled or withdrawn transactions that are NOT signed prior to the deal’s cancellation or withdrawal 3. Transactions with a maturity of less than 90 days, with exception of bridge loan facilities.

BLOOMBERG ASIA PACIFIC SYNDICATED LOAN CRITERIA

Bloomberg requires all syndicated loans to be signed and closed in order to receive credit in the Bloomberg Asia Pacific Syndicated League Tables. Each bank’s submissions must be received in accordance with Bloomberg’s Syndicated Loans League Schedule each quarter in order to receive credit in the Bloomberg Syndicated Loan Asia Pacific League Tables. Any subsequent submissions received will not be included in the release, but will be updated in the Bloomberg Professional Syndicated Loan League Tables. The following details are requested to be provided for each deal that a bank submits for credit:

1. Borrower Name 11. Signing Date 2. Borrower Nationality 12. Drawdown Date 3. Borrower Industry 13. Tenor 4. Facility Amount 14. Purpose 5. Tranche Amounts 15. Type of Syndication 6. Loan Types 16. Syndicated List and Titles 7. Currency 17. Pricing and Fees 8. Rank 18. Obligor 9. Covenants 19. Parent

10. Collateral 20. Guarantor/Sponsor

* Submissions should be made on Bloomberg Submission form or on banks' own format.

Bloomberg’s Asia Pacific Syndicated League Tables are based on the principal borrower’s country of risk. Bloomberg reserves the right to determine the credit awarded, if any, to a particular bank, and to request additional documentation if needed. Amendments and Amended & Restated Criteria (Asia Pacific) Bloomberg will award League Table credit to existing deals that are amended or amended & restated, each strictly at the lender’s option, and not as a result of events already accounted for within the original credit agreement. League credit will be awarded at the tranche level, for the following amendments:

1. Reduction in Pricing 2. Release of Security or Collateral 3. Extension of Maturity: For a period of 90 days or more only 4. Increase in Deal Size: Increases will be credited on an incremental portion. If criteria 1, 2 or 3 outlined above occurs, in

addition to criteria 4, credit will be awarded on the full facility amount 5. Change of Financial Covenants

Eligible Roles & Credit for Bloomberg’s Syndicated Asia Pacific Mandated Lead Arranger Table Mandated Arranger titles eligible for credit:

1. Mandated Lead Arranger 2. Mandated Arranger

Pro-rata credit will be given if multiple banks share the highest title. Multiple Mandated Lead Arranger or Book Runner banks under the same parent are considered as one bank. Eligible Roles & Credit for Bloomberg’s Syndicated Asia Pacific Book Runner Table Hierarchy for awarding credit:

1. Book Runner Loan Style FRN, Club Transactions & Self Arranged Transactions Transactions defined as Loan Style FRN, club, self-arranged or any transactions with only two participants will be eligible for Mandated Lead Arranger credit only, where Mandated Lead Arranger titles have been allocated. Bridge Finance Bridge Financing supporting an acquisition, which is subsequently replaced by longer-term debt, will be considered for inclusion provided it meets all other criteria. Exclusions to Bloomberg’s Asia Pacific League Tables

1. Bilateral transactions. 2. Cancelled or withdrawn transactions that are not signed prior to cancellation or withdrawal 3. Guaranteed deals, including Letter of Guarantee, Performance Bond, CP Guarantee, Bank Guarantee, etc 4. Transactions with a maturity of less than 90 days, with exception of bridge loan facilities.

BLOOMBERG EMEA SYNDICATED LOAN ELIGIBILITY CRITERIA Bloomberg requires all syndicated loans to be signed and closed in order to receive credit in the Bloomberg EMEA Syndicated League Tables. Each bank’s submissions must be received in accordance with Bloomberg’s Syndicated Loans League Schedule each quarter in order to receive credit in the Bloomberg EMEA Syndicated Loan League Tables. Any subsequent submissions received will not be included in the release, but will be updated in the Bloomberg Professional Syndicated Loan League Tables. The following details are requested to be provided for each deal that a bank submits for credit:

1. Borrower Name 2. Borrower Nationality 3. Borrower Industry 4. Facility Amount 5. Tranche Amounts 6. Loan Types 7. Currency 8. Payment Rank 9. Covenants 10. Collateral Pledged

11. Signing Date 12. Tenor 13. Purpose 14. Type of Syndication 15. Syndicate List and Titles 16. Pricing and Fees 17. Sponsor 18. Obligor 19. Guarantor 20. Agency ratings for IG eligibility

Bloomberg’s EMEA Syndicated League Tables are based on the borrower’s country of incorporation. Bloomberg reserves the right to determine the credit awarded, if any, to a particular bank, and to request additional documentation if needed. Amendments and Amended & Restated Criteria (EMEA) Bloomberg will award League Table credit to existing deals that are amended or amended & restated, each strictly at the lender’s option, and not as a result of events already accounted for within the original credit agreement. League credit will be awarded for the following amendments:

1. Reduction in Pricing 2. Release of Security or Collateral 3. Extension of Maturity: for a period of 90 days or more only 4. Increase in Deal Size: credited on an incremental portion or if criteria 1, 2 or 3 above also occurs, full credit will be

awarded.

Eligible Roles & Credit for Bloomberg’s Syndicated Loans EMEA Book Runner Tables Hierarchy for awarding credit:

1. Book Runner Eligible Roles for Bloomberg’s Syndicated Loans EMEA Mandated Arranger Tables: Hierarchy for awarding credit:

1. Mandated Lead Arranger 2. Lead Arranger 3. Co-Lead Arranger 4. Arranger 5. Co-Arranger

Pro-rata credit will be given if multiple banks share the highest title. Eligible Roles for Bloomberg’s Syndicated Loans EMEA Agent Table Hierarchy for awarding credit:

1. Facility agent Bloomberg’s Syndicated EMEA High Yield Table Deals will be eligible for the Bloomberg Syndicated EMEA High Yield Tables if:

1. The borrower's senior debt has no rating or a non-investment grade rating by one or more rating agencies (i.e. rating of Ba1 or lower by Moody's or BB+ or lower by S&P) and/or:

2. The purpose of the loan is defined as MBO or LBO, or 3. Spread is greater or equal to 300 basis points

Bloomberg’s Syndicated EMEA Sponsor-Led Leveraged Table

1. LBO financings that are Sponsor-Led

Bloomberg’s Syndicated EMEA Investment Grade Table Deals will be eligible for the Bloomberg Syndicated EMEA Investment Grade Tables if:

1. The borrower's senior debt has investment grade rating by one or more rating agencies (i.e. rating of Baa3 or higher by Moody's or BBB- or higher by S&P)

Exclusions to Bloomberg’s EMEA League Tables The following deals will not be included in Bloomberg’s Syndicated EMEA League Tables:

1. Bilateral transactions 2. Cancelled or withdrawn transactions that are NOT signed prior to the deal’s cancellation or withdrawal 3. Transactions with a maturity of less than 90 days, with exception of bridge loan facilities.

For all League table questions, please contact: Esther Jang / Tiffany Chen Asia-Pacific Tel: +822-3702-1616 / +852-2977 2131 Fax: +822-3704-1816 / +852-2977 2181 [email protected] Paul Bandong Americas Tel: +1-609-279-5187 Fax: +1-609-279-2053 [email protected] Michael Amato Canada Tel: +1-609-279-4182 Fax: +1-646-268-5569 [email protected] Ines Berreta EMEA Tel: +44-20-7073-3216 Fax: +44-20-7073-5305 [email protected]

DISCLAIMER

Bloomberg Syndicated Loans League Tables represent transactions that are completed and for which Bloomberg has been notified.

Bloomberg reserves the right of final decision concerning league table eligibility and requires adequate documentation for the same.

Bloomberg LP and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its

accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or

commodities.

Accuracy Claims & Inquiries

All league table participants have the right to examine the accuracy of League Table data on the Bloomberg Professional Service. All accuracy claims and inquiries must be submitted in writing and with adequate explanation and documentation. Bloomberg will investigate all accuracy claims and inquiries in a timely manner, and cannot assure completion of its investigation by the respective league table deadlines.

Bloomberg’s Syndicated Loans League Schedule

1. Submissions must be turned in within one month of completion for inclusion in Bloomberg’s Global Syndicated Loans League

Tables. 2. Two weeks prior to the quarter/year end:

A. All missing submissions for the quarter/year end must be submitted. Banks should also notify Bloomberg of all deals expected to close within the final two weeks of the quarter/year end, and must provide subsequent confirmation of the closing date, prior to Bloomberg’s Syndicated Loans Tables being locked. This is also the last opportunity for a bank to inquire about only that bank’s league credit and rankings.

B. At the bank’s request, a full inventory of only that bank’s submissions will be sent out for review. Banks will have

one week to submit any corrections. 3. One business day prior to the quarter/year end at 5pm EST, Bloomberg’s Syndicated Loans League Tables are LOCKED.

Submissions after this date will be added and updated on the Bloomberg Professional Services League Tables, but not included in the final publication release.

leveraged loan league tables

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