mashreq · moody's: bmce likely to maintain solid profits from pan-african operations,...

mashreqFixed Income Trading

Daily Market Update

Market Update

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Qatar said to remain top Glencore holder after recent share sale

According to sources, Qatar’s sovereign-wealth fund participated in a USD2.5 billion stock offering by Glencore Plc last month, maintaining its status as the

largest investor in the commodities trader. Qatar Holding LLC, the direct investment arm of the Gulf state’s sovereign wealth fund, bought 8.9% of the

shares offered in the sale to keep its stake in the Switzerland-based company. Glencore sold the shares at a price of 125 pence per share, meaning Qatar’s

fund invested about USD225 million in the offering. Qatar’s participation is a boost to Glencore Chief Executive Officer Ivan Glasenberg, who is trying to cut

the company’s debt pile and win back investor confidence after a slump in its share price. As well as the share sale, the company’s plan to reduce debt

includes asset sales, spending cuts and suspending the dividend. Although, the stock has more than recovered its losses since a record 29% plunge a week

ago, it’s still fallen 60% this year as the prices of commodities including copper and coal have dropped. Qatar became Glencore’s top shareholder after the

commodities trader’s acquisition of Xstrata Plc in 2012. The wealth fund, which had accumulated a stake in Xstrata ahead of the merger, voted in favor of

the deal after Glencore agreed to raise its offer. Glencore is also in talks with investors, including the sovereign wealth fund of Singapore, to sell a minority

stake in its agriculture business. (Bloomberg)

UAE's Union National Bank completes upsized USD 750 million 3-yr loan

Abu Dhabi-based Union National Bank (UNB) has completed a three-year loan which was increased in size to USD 750 million after strong demand from

lenders, the emirate's fifth-largest bank by assets said. UNB had originally sought a USD 500 million facility. The deal was arranged by Commerzbank, First

Gulf Bank, HSBC, National Bank of Abu Dhabi and Standard Chartered, the bourse filing added without offering further details.

Abraaj teams up with Aditya Birla for Indian solar investments

Dubai-based private equity firm Abraaj Group and India's Aditya Birla Group have agreed to invest jointly in building and operating new solar power plants

in India, Abraaj said in a statement. The firms are the latest companies to plan solar investments in India ahead of an expected boom in clean energy

projects after New Delhi hiked its solar energy target to 100 gigawatts by 2022, a 33-fold rise from current levels. Abraaj and Aditya Birla will build a

gigawatt scale platform that will bid for new solar projects tendered at national and state auctions, Abraaj said in the statement. Abraaj will invest through

one of its funds and Aditya Birla, a large Indian conglomerate, will invest through Aditya Birla Nuvo Limited . The companies did not detail the size of the

planned investment. (Reuters)

Wednesday, October 07, 2015

Attacks on Saudi-led coalition in Yemen leave 15 soldiers dead

Bombs exploded at a hotel housing Yemen’s prime minister and other targets in the southern port city of Aden, killing 15 Yemeni and coalition troops in the

first major attack on their bases since the city was recaptured from Houthi rebels in July. Four of the dead were from the United Arab Emirates, the U.A.E.’s

official WAM news agency reported. A Saudi soldier was also killed, Saudi-owned Al Arabiya television said. Prime Minister Khaled Bahah and other officials

were unhurt. Islamic State claimed responsibility for what it called four suicide bombs in a statement circulated on Twitter. Yemen’s state television said an

investigation showed that the blasts were caused by car bombs, after earlier reports referred to missile attacks. The state broadcaster didn’t attribute

blame directly, though it said that Shiite Houthi rebels and their allies among forces loyal to former President Ali Abdullah Saleh were responsible for

fomenting “extremism and violence.” The seizure of Aden was the first real victory for the Saudi-led coalition after a four-month bombing campaign and a

largely unacknowledged deployment of ground troops. It enabled Yemen’s Saudi-backed President Abdurabuh Mansur Hadi, driven into exile by the rebels

early this year, to return to his country for the first time in months. (Bloomberg)

SABIC chief expects decision on USD 30bln Saudi project in Q2 2016

Saudi Basic Industries Corp ( SABIC ), one of the world's largest petrochemicals groups, expects to make a decision in the second quarter of 2016 on

whether to go ahead with a USD 30billion oil-to-chemicals plant project, its chief executive said. Yousef Abdullah Al-Benyan, SABIC's acting vice chairman

and CEO, said the economics of the project, whose potential investment size he confirmed, were being assessed and there was a 50/50 chance it would

proceed. If it went ahead, the crude to supply the plant planned for Yanbu on the west coast of Saudi Arabia would be procured at market rates. "It's a very

large project, and that's why it requires more deep analysis and assessment," he said. "This is the type of project that really you need to assess because

current crude prices influence the outcome of the project." He added: "Probably second quarter of next year, we'll have more clarity on where this project

stands."

Saudi petrochemicals companies faced by constraints in gas supplies are diversifying their feedstock mix, and use oil derivative products such as naphtha.

Saudi Aramco, the world's biggest oil producer, has also been exploring the possibility of a similar project - turning oil to chemicals or olefins, used to make

synthetic fibres. Last year, SABIC said it expected the proposed oil-to-chemicals plant to start operations by the end of 2020. Al-Benyan also said he

expected a more positive outlook for the industry in Asia in 2016, with less price volatility than this year. Al-Benyan was in South Korea for the inauguration

of a polyethylene plant in the city of Ulsan that it owns in a 50/50 joint venture with the SK Global Chemical arm of SK Innovation. "The outlook for next

year at least, we will not have more of the experience that we have experienced this year in terms of volatility," he said, referring to Asia. Al-Benyan said

demand in the region was healthy: "You don't see any slowdown in demand per se if you compare it to the price volatility. I think the issue is the price. This

is what's really depressed some of the earnings of the companies." (Reuters)


Daily Market Update

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China’s foreign reserves post record quarterly drop on Yuan

China’s foreign-exchange reserves fell by a record in the third quarter as the central bank sold dollars to support the yuan after a surprise August 11

devaluation sparked the currency’s steepest slide in two decades. The stockpile plunged by USD180 billion in the three months through September to

USD3.51 trillion, according to Bloomberg calculations based on data released by the People’s Bank of China. The hoard shrank USD43.3 billion in

September, less than the USD57 billion predicted in a Bloomberg survey, suggesting the pace of central bank intervention has eased. The PBOC devalued

the yuan and switched to a more market-oriented reference rate in August, prompting a 2.6% decline in the currency that month and a record USD141.66

billion of estimated capital outflows. The monetary authority has been intervening in both the onshore and offshore markets to prop up its exchange rate, a

strategy that drains the nation’s reserves and weighs on the supply of money in the domestic market. The yuan overtook Japanese yen to become the

fourth most- used currency for global payments in August, rising to its highest ranking ever and boosting its claim for reserve status at the International

Monetary Fund. The proportion of transactions denominated in yuan climbed to a record 2.79% in August, from 2.34% in July, according to a Society for

Worldwide Interbank Financial Telecommunications statement on Tuesday. The report came as the IMF prepares to conduct a twice-a- decade review of its

Special Drawing Rights basket, which currently comprises the U.S. dollar, euro, yen and the British pound. China has been pushing the yuan’s case for

inclusion. (Bloomberg)

BOJ refrains from adding to stimulus as it mulls price trend

The Bank of Japan kept its record stimulus unchanged on Wednesday amid growing speculation that signs of a recession will press it to act at the end of the

month. The immediate focus now turns to Governor Haruhiko Kuroda’s press conference this afternoon for any hints of an adjustment in monetary policy on

October 30th, when the central bank will provide an update on its outlook for inflation and economic growth. The BOJ’s key price gauge fell in August, along

with industrial production, raising concern that Japan may have fallen back into a recession in the third quarter. While more than a third of economists

surveyed by Bloomberg think Kuroda may be able to avoid increasing stimulus altogether, a larger number expect him to boost asset purchases at the next

meeting of his policy board. (Bloomberg)

BOE keeps punchbowl full as global turmoil spoils U.K. party

The U.K. economy is losing its fizz and it might be a while before it gets going enough to spark inflation. Bank of England Governor Mark Carney and his

fellow policy makers will publish their assessment of the cooling environment on Thursday, alongside their latest policy decision. A report this week showed

services grew at the weakest pace in more than two years, signaling a slowing economy that underlines the case for holding the key rate at a record low.

Since the September policy meeting, the faltering expansion and the Federal Reserve’s decision to delay its tightening prompted Bank of America Merrill

Lynch, JPMorgan Chase and Royal Bank of Scotland to push back their BOE forecasts. The weaker outlook also raises the question of when inflation will

strengthen enough to warrant a rate increase. While Carney has insisted the decision will come in to focus at the turn of the year, consumer-price

gainshave lagged the central bank’s 2% target for 20 months and the latest data showed a rate of zero. Officials will leave the key rate at 0.5%, according

to a Bloomberg News survey of 41 economists.(Bloomberg)

Moody's: BMCE likely to maintain solid profits from pan-African operations, outweighing risks

According to Moody's Investors Service, BMCE Bank's (Banque Marocaine du Commerce Extérieur) rising profitability is increasingly mitigating the risks

arising from its rapid pan-African expansion. BMCE Bank (ba3/BCA, Ba1/Local Currency Deposits, stable) is one of three large Moroccan banks that have

expanded ambitiously into Sub-Saharan Africa over the last 10 years. "While the bank's Sub-Saharan operation has increased its exposure to higher asset

quality volatility, it has also resulted in rising profitability, well above Moroccan banking system average" says Olivier Panis, a VP-Senior Credit Officer at

Moody's. "This is primarily thanks to its lending growth opportunities, higher yields and a large deposit base that provides BMCE with a low-cost and fast-

growing funding profile." (Bloomberg)


Oil set for longest rally since April as U.S. stockpiles decline

Oil headed for its longest rally in almost six months as U.S. industry data showed crude stockpiles fell in the world’s biggest consumer. Futures rose as

much as 2.4% in New York, climbing for a fourth day. Inventories dropped by 1.23 million barrels last week, the American Petroleum Institute was said to

have reported. The Energy Information Administration increased its forecast for 2015 global oil demand, according to a monthly report. Oil is extending

gains from the highest close in more than a month, boosting its advance to 9.9% in October. Prices have fluctuated below USD50 a barrel after slumping to

a six-year low in August amid speculation a global glut will be prolonged. U.S. crude stockpiles remain about 100 million barrels above the five-year average

while OPEC continues to pump above its quota. (Bloomberg)

IMF cuts global growth forecasts again, cites commodity and China worries

The International Monetary Fund cut its global growth forecasts for a second time this year on Tuesday, citing weak commodity prices and a slowdown in

China and warned that policies aimed at increasing demand were needed. The Fund, whose annual meeting starts in Peru this week, forecast that the world

economy would grow at 3.1% this year and by 3.6% in 2016. Both new forecasts are 0.2 percentage point below its July forecast and are 0.4 percentage

point and 0.2 percentage point below its April outlook, respectively. Among major economies, the United States is expected to grow by 2.6% in 2015 and

by 2.8% in 2016, the Eurozone is forecast to grow by 1.5% and 1.6%, respectively, with Japan seen at 0.6% and 1.0%. The Fund sees growth in China

slowing to 6.8% this year and 6.3% in 2016. The biggest hit to growth will come in emerging economies where the IMF cut its growth forecast to 4% in

2015, due to a sharp slide in commodity prices. "The distribution of risks to global growth remains tilted to the downside," the Fund said in its World

Economic Outlook publication. It said that "downside risks to growth for emerging market and developing economies have increased, given the risks to

China's growth transition, more protracted commodity market rebalancing, increased foreign exposure of corporate balance sheets and capital flow

reversals associated with disruptive asset price shifts." (Reuters)


Daily Market Update

Rating Update

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Fitch affirms Mubadala GE Capital at 'A'; the outlook is stable

Fitch Ratings has affirmed Mubadala GE Capital Ltd's (MGEC) Long- and Short-term Issuer Default Ratings (IDR) at 'A' and 'F1' respectively, and its senior

unsecured long-term debt rating at 'A'. The Outlook on the IDR is Stable. The affirmation follows the recent announcement by MGEC of an agreement to

sell most of its assets to MidCap Finco Ltd (MidCap), which in turn follows the April 2015 decision by General Electric Corporation (GE) to divest the majority

of the operations of MGEC's 50% co-owner General Electric Capital Corporation (GECC). The other 50% of MGEC is owned by Mubadala Development

Company PJSC (Mubadala; AA/Stable). (Bloomberg)


Daily Market Update

Libor Euribor Eibor

Price Yield Price % Yield Net Last 1d Chg Last 1d Chg Last 1d Chg

Last Last 1d Chg 1d Chg (bp) 1-Month 0.194 -0.001 -0.113 0.000 0.564 0.004

2 Year 100.016 0.619 -0.027 1.588 3-Month 0.323 -0.004 -0.046 -0.002 0.829 0.001

5- Year 100.109 1.353 -0.129 2.761 6-Month 0.523 -0.011 0.027 0.001 0.963 0.006

10-Year 99.422 2.066 -0.290 3.351 12-Month 0.831 -0.022 0.137 -0.002 1.180 0.000

30-Year 99.344 2.909 -0.765 3.930 Source: Bloomberg

2 Year 100.485 -0.250 -0.003 0.118

5- Year 101.270 -0.003 -0.047 0.934 USD EUR AED

10-Year 103.655 0.616 -0.197 2.095 Last 1d Chg Last 1d Chg Last 1d Chg

30-Year 127.845 1.385 -0.601 2.644 2-Year 0.744 0.018 0.054 0.000 1.542 0.022

5-Year 1.408 0.029 0.365 0.014 2.380 0.016

10-Year 2.056 0.035 0.992 0.022 3.647 0.026

2 Year 100.760 0.600 -0.045 2.295 30-Year 2.597 0.038 1.558 0.026 N/A N/A

5- Year 103.625 1.218 -0.130 2.761 Source: Bloomberg

10-Year 101.525 1.831 -0.307 3.351

30-Year 119.208 2.563 -0.712 3.930

Source: Bloomberg

Last Change

YTD (%)

S&P 500 1,979.92 -3.84

Change Change Dow Jones Industrial Avg 16,790.19 -5.80

Spread Day YTD Nasdaq 4,748.36 0.26

iTraxx Europe 85.989 -2.469 23.127 Nikkei 18,322.98 5.00

iTraxx Europe Crossover 348.249 -9.060 2.635 Shanghai 3,052.78 -5.62

CDX North America IG 87.519 -0.894 21.398 Indian BSE 26,932.88 -3.42

CDX North America HY 475.268 1.224 118.314 Eurostoxx 3,220.09 2.57

iTraxx SovX Western Europe 20.580 -0.720 -6.700 DFM General Index 3,688.66 -2.26

iTraxx SovX CEEMEA 233.890 -11.020 -81.530 ADX General Index 4,565.40 0.81

iTraxx Europe Senior Financial 85.460 -4.247 18.025 Qatar Exchange Index 11,697.30 -4.79

iTraxx Europe Sub Financial 175.630 -9.727 26.763 TASI 7,462.49 -10.45

Source: Bloomberg Source: Bloomberg

Change Change Last Change Change

bps Spread Day YTD Day YTD (%)

Emirate of Abu Dhabi 5Y 73.000 1.000 11.000 Spot Gold 1,148.85 -3.00

Emirate of Dubai 5Y 190.000 -14.000 -40.000 Spot Silver 15.87 0.99

Kingdom of Bahrain 5Y 300.000 -2.500 45.000 WTI Crude 49.21 -7.62

State of Qatar CDS 5Y 62.775 -0.262 -3.453 Brent Crude 52.27 -8.83

Kingdom of Saudi Arabia 5Y 115.000 -2.500 50.000 Nymex Nat Gas 2.47 -14.64

Lebanese Republic 5Y 400.000 -15.000 5.000 LME Copper 5,185.00 -17.70

Republic of Turkey 5Y 274.000 -20.500 94.000 Source: Bloomberg

Arab Republic of Egypt 5Y 310.000 -15.000 30.000

Source: Bloomberg

Last (NAV) Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.53330 0.26% 2.54%

Makaseb Income Fund 12.99525 0.44% 1.82%

Makaseb Arab Tigers Fund 13.86012 1.34% -19.19%

Source: Bloomberg

0.00

8.00

MUTUAL FUNDS

CDS COMMODITIES

1.61

-0.03

0.68

0.35

147.33

29.70

28.99

10.72

11.21

0.97

13.76

bps -32.90

136.88

14.64

UK GILTS

EQUITY

Change

KEY CDS INDICES Day

-7.13


KEY GOVERNMENT BONDS INTERBANK RATES

US TREASURIES

GERMAN BUNDS SWAPS

Fixed Income Trading

October 7, 2015 USD INVESTMENT GRADE ISSUES (LONG TERM)

Security Name ISIN Code MaturityOutstanding

Amount (Mio)

Coupon

TypeCoupon % Indic. Bid

Indic.

Offer

Offer Yield

%

Credit Rating

S&P/Moody/FitchCountry Payment Rank

ABBVIE INC US00287YAL39 6-Nov-2022 3071 FIXED 2.90 97.96 97.96 3.23 A/Baa1/- UNITED STATES Sr Unsecured

ABBVIE INC US00287YAQ26 14-May-2025 3750 FIXED 3.60 99.11 99.11 3.71 A/Baa1/- UNITED STATES Sr Unsecured

AIRBUS GROUP FINANCE BV USN2823BBD21 17-Apr-2023 1000 FIXED 2.70 99.25 99.25 2.81 A/A2/A- FRANCE Sr Unsecured

AMAZON.COM INC US023135AJ58 29-Nov-2022 1250 FIXED 2.50 97.63 97.63 2.87 AA-/Baa1/- UNITED STATES Sr Unsecured

AMERICAN EXPRESS CO US025816BD05 2-Dec-2022 1266 FIXED 2.65 98.01 98.01 2.96 BBB+/A3/A+ UNITED STATES Sr Unsecured

ANGLO AMERICAN CAPITAL USG0446NAG90 15-Apr-2021 500 FIXED 4.13 86.00 86.00 7.25 BBB-/Baa2/- UNITED KINGDOM Sr Unsecured

ANGLO AMERICAN CAPITAL USG03762CH52 27-Sep-2022 600 FIXED 4.13 82.00 82.00 7.49 BBB-/Baa2/BBB UNITED KINGDOM Sr Unsecured

APPLE INC US037833BG48 13-May-2025 2000 FIXED 3.20 101.60 101.60 3.01 AA+/Aa1/- UNITED STATES Sr Unsecured

AT&T INC US00206RCM25 30-Jun-2022 2750 FIXED 3.00 99.72 99.72 3.05 BBB+/Baa1/A- UNITED STATES Sr Unsecured

AT&T INC US00206RCN08 15-May-2025 5000 FIXED 3.40 96.72 96.72 3.81 BBB+/Baa1/A- UNITED STATES Sr Unsecured

BANK OF AMERICA CORP US06051GEU94 11-Jan-2023 4250 FIXED 3.30 101.43 101.43 3.08 A-/Baa1/A UNITED STATES Sr Unsecured

BANK OF AMERICA CORP US06051GFP90 21-Apr-2025 2500 FIXED 3.95 98.09 98.09 4.20 BBB+/Baa3/A- UNITED STATES Subordinated

BARCLAYS PLC US06738EAE59 16-Mar-2025 2000 FIXED 3.65 95.82 95.82 4.19 BBB/Baa3/A UNITED KINGDOM Sr Unsecured

BARCLAYS PLC US06738EAC93 11-Sep-2024 1250 FIXED 4.38 100.00 100.00 4.37 BB+/Baa3/A- UNITED KINGDOM Subordinated

BARRICK GOLD CORP US067901AQ17 1-May-2023 1498 FIXED 4.10 89.79 89.79 5.79 BBB-/Baa3/- CANADA Sr Unsecured

BHP BILLITON FIN USA LTD US055451AQ16 24-Feb-2022 1000 FIXED 2.88 97.87 99.11 3.03 A+/A1/A+ AUSTRALIA Sr Unsecured

BOSTON PROPERTIES LP US10112RAV69 1-Sep-2023 500 FIXED 3.13 97.71 97.71 3.46 A-/Baa2/BBB+ UNITED STATES Sr Unsecured

BP CAPITAL MARKETS PLC US05565QCD88 10-May-2023 1500 FIXED 2.75 97.91 97.91 3.06 A/A2/- UNITED KINGDOM Sr Unsecured

BP CAPITAL MARKETS PLC US05565QDA31 17-Mar-2025 1000 FIXED 3.51 100.18 100.18 3.48 A/A2/- UNITED KINGDOM Sr Unsecured

BPCE SA US05578UAD63 15-Mar-2025 1250 FIXED 4.50 97.40 97.40 4.85 -/Baa3/A- FRANCE Subordinated

CITIGROUP INC US172967GT25 15-May-2023 1250 FIXED 3.50 98.07 98.07 3.79 BBB+/Baa3/A- UNITED STATES Subordinated

CITIGROUP INC US172967JP75 27-Apr-2025 1500 FIXED 3.30 99.40 99.40 3.37 A-/Baa1/A UNITED STATES Sr Unsecured

CITIGROUP INC US172967JL61 26-Mar-2025 1000 FIXED 3.88 97.76 97.76 4.16 BBB+/Baa3/A- UNITED STATES Subordinated

CONOCOPHILLIPS COMPANY US20826FAA49 15-Dec-2022 1000 FIXED 2.40 95.30 95.30 3.14 A/A2/A UNITED STATES Sr Unsecured

CONOCOPHILLIPS COMPANY US20826FAD87 15-Nov-2024 1000 FIXED 3.35 99.13 99.13 3.46 A/A2/A UNITED STATES Sr Unsecured

CRED SUIS GP FUN LTD USG25417AA79 26-Mar-2025 2500 FIXED 3.75 97.49 97.49 4.07 BBB+/Baa2/A SWITZERLAND Sr Unsecured

CREDIT AGRICOLE SA USF2R125AC99 17-Mar-2025 1500 FIXED 4.38 96.87 96.87 4.79 BBB/Baa3/A- FRANCE Subordinated

DOW CHEMICAL CO/THE US260543CJ01 1-Oct-2024 900 FIXED 3.50 97.19 97.19 3.87 BBB/Baa2/BBB UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397XA68 9-Jan-2022 750 FIXED 3.22 99.36 99.36 3.33 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397WW97 8-Sep-2024 750 FIXED 3.66 97.90 97.90 3.95 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FREEPORT-MCMORAN INC US35671DAU90 1-Mar-2022 2000 FIXED 3.55 76.13 76.13 8.47 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

FREEPORT-MCMORAN OIL&GAS US726505AP50 15-Feb-2023 778 FIXED 6.88 88.75 88.75 9.00 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAW65 10-Apr-2022 1250 FIXED 3.45 96.22 96.22 4.12 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAS53 15-Jan-2025 1000 FIXED 4.00 94.91 94.91 4.68 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured

GLENCORE FINANCE CANADA USC98874AM93 25-Oct-2022 1000 FIXED 4.25 81.50 81.50 7.71 BBB/Baa2/- SWITZERLAND Sr Unsecured

=> All Conditions are Indicative and subject ot market changes and liquidity constrains Page 16


October 7, 2015 USD INVESTMENT GRADE ISSUES (LONG TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


GLENCORE FUNDING LLC XS1028955844 29-Apr-2024 1000 FIXED 4.63 81.75 81.75 7.56 BBB/Baa2/- SWITZERLAND Sr Unsecured

GLENCORE FUNDING LLC XS0938722666 30-May-2023 1500 FIXED 4.13 80.50 80.50 7.53 BBB/Baa2/- SWITZERLAND Sr Unsecured


GOLDCORP INC US380956AD47 15-Mar-2023 1000 FIXED 3.70 94.27 94.27 4.62 BBB+/Baa2/BBB CANADA Sr Unsecured

GOLDMAN SACHS GROUP INC US38148LAC00 23-Jan-2025 2500 FIXED 3.50 99.11 99.11 3.61 A-/A3/A UNITED STATES Sr Unsecured

JPMORGAN CHASE & CO US46625HKC33 23-Jan-2025 2500 FIXED 3.13 97.48 97.48 3.44 A/A3/A+ UNITED STATES Sr Unsecured

JPMORGAN CHASE & CO US46625HJY71 10-Sep-2024 3000 FIXED 3.88 99.16 99.16 3.99 A-/Baa1/A UNITED STATES Subordinated

LLOYDS BANK PLC US53944VAH24 14-May-2025 1250 FIXED 3.50 100.38 100.38 3.45 A/A1/A+ UNITED KINGDOM Sr Unsecured

LOCKHEED MARTIN CORP US539830BE89 1-Mar-2025 750 FIXED 2.90 96.90 96.90 3.29 A- /*-/Baa1/A- /*- UNITED STATES Sr Unsecured

MARATHON OIL CORP US565849AK29 1-Nov-2022 1000 FIXED 2.80 89.30 89.30 4.59 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured

MARATHON OIL CORP US565849AL02 1-Jun-2025 900 FIXED 3.85 89.99 89.99 5.18 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured

MARATHON PETROLEUM CORP US56585AAG76 15-Sep-2024 750 FIXED 3.63 97.16 97.16 4.01 BBB/Baa2/BBB UNITED STATES Sr Unsecured

MCDONALD'S CORP US58013MEU45 26-May-2025 700 FIXED 3.38 101.15 101.15 3.23 A-/A3/BBB+ UNITED STATES Sr Unsecured

MERCK & CO INC US58933YAR62 10-Feb-2025 2500 FIXED 2.75 97.81 97.81 3.02 AA/A2/A UNITED STATES Sr Unsecured

MONSANTO CO US61166WAU53 15-Jul-2024 750 FIXED 3.38 97.08 97.08 3.77 BBB+/A3/A- UNITED STATES Sr Unsecured

MOTOROLA SOLUTIONS INC US620076BB42 15-May-2022 750 FIXED 3.75 93.83 93.83 4.85 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

OCCIDENTAL PETROLEUM COR US674599CG82 15-Jun-2025 750 FIXED 3.50 100.71 100.71 3.41 A/A2/A UNITED STATES Sr Unsecured

OCEANEERING INTL INC US675232AA07 15-Nov-2024 500 FIXED 4.65 94.42 94.42 5.44 BBB/Baa2/- UNITED STATES Sr Unsecured

RABOBANK NEDERLAND NY US21688AAE29 21-May-2025 1000 FIXED 3.38 99.21 99.21 3.47 A+/Aa2/AA- NETHERLANDS Sr Unsecured

RIO TINTO FIN USA LTD US767201AS58 15-Jun-2025 1200 FIXED 3.75 97.59 98.79 3.90 A-/A3/- UNITED KINGDOM Sr Unsecured

RIO TINTO FIN USA PLC US76720AAF30 21-Aug-2022 1000 FIXED 2.88 96.67 96.67 3.42 A-/A3/A- UNITED KINGDOM Sr Unsecured

SHELL INTERNATIONAL FIN US822582BD31 11-May-2025 2750 FIXED 3.25 99.79 99.79 3.28 AA-/Aa1/- NETHERLANDS Sr Unsecured

SIEMENS FINANCIERINGSMAT USN82008AE85 27-May-2025 1500 FIXED 3.25 99.70 99.70 3.29 A+/A1/A GERMANY Sr Unsecured

SOCIETE GENERALE USF8586CH211 14-Apr-2025 1500 FIXED 4.25 95.52 95.52 4.84 BBB/Baa3/A- FRANCE Subordinated

STANDARD CHARTERED PLC XS1219971774 17-Apr-2025 750 FIXED 3.20 91.56 91.56 4.29 A-/Aa3/AA- UNITED KINGDOM Sr Unsecured

STATOIL ASA US85771PAG72 17-Jan-2023 1100 FIXED 2.45 96.41 96.41 3.00 AA-/Aa2/- NORWAY Sr Unsecured

TIME WARNER INC US887317AW59 15-Jul-2025 1500 FIXED 3.60 98.90 98.90 3.74 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured

TOTAL CAPITAL CANADA LTD US89153UAF84 15-Jul-2023 1000 FIXED 2.75 97.15 97.15 3.17 AA-/Aa1/AA- FRANCE Sr Unsecured

VALERO ENERGY CORP US91913YAS90 15-Mar-2025 600 FIXED 3.65 99.19 99.19 3.75 BBB/Baa2/BBB UNITED STATES Sr Unsecured

VERIZON COMMUNICATIONS US92343VCR33 1-Nov-2024 2500 FIXED 3.50 99.73 99.73 3.54 BBB+/Baa1/A- UNITED STATES Sr Unsecured

VIACOM INC US92553PAT93 1-Sep-2023 1250 FIXED 4.25 98.77 98.77 4.44 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured

VODAFONE GROUP PLC US92857WAZ32 26-Sep-2022 1000 FIXED 2.50 92.96 92.96 3.66 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured

WELLS FARGO & COMPANY US94974BGH78 19-Feb-2025 2500 FIXED 3.00 96.92 96.92 3.39 A+/A2/AA- UNITED STATES Sr Unsecured



October 7, 2015 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ABBEY NATL TREASURY SERV US002799AT16 16-Mar-2020 1000 FIXED 2.38 100.15 100.15 2.34 A/A1/A UNITED KINGDOM Sr Unsecured

ABBVIE INC US00287YAT64 14-May-2020 3750 FIXED 2.50 99.58 99.58 2.60 A/Baa1/- UNITED STATES Sr Unsecured

ABN AMRO BANK NV XS1241945473 4-Jun-2020 1000 FIXED 2.45 100.55 100.94 2.24 A/A2/A NETHERLANDS Sr Unsecured

AMERICAN EXPRESS CREDIT US0258M0DT32 26-May-2020 1750 FIXED 2.38 100.38 100.38 2.29 A-/A2/A+ UNITED STATES Sr Unsecured

ANGLO AMERICAN CAPITAL USG0446NAH73 14-May-2020 850 FIXED 3.63 92.40 92.40 5.52 BBB-/Baa2/- UNITED KINGDOM Sr Unsecured

APPLE INC US037833BD17 6-May-2020 1250 FIXED 2.00 101.16 101.16 1.73 AA+/Aa1/- UNITED STATES Sr Unsecured

ASTRAZENECA PLC US046353AF58 18-Sep-2019 1000 FIXED 1.95 100.75 100.75 1.75 A+/A2/A+ UNITED KINGDOM Sr Unsecured

AT&T INC US00206RCL42 30-Jun-2020 3000 FIXED 2.45 99.38 99.38 2.59 BBB+/Baa1/A- UNITED STATES Sr Unsecured

BANK OF AMERICA CORP US06051GFN43 21-Apr-2020 2000 FIXED 2.25 99.17 99.17 2.45 A-/Baa1/A UNITED STATES Sr Unsecured

BANK OF AMERICA NA US06050TMC35 5-Jun-2018 1750 FIXED 1.75 100.21 100.21 1.67 A/A1/A+ UNITED STATES Sr Unsecured

BANK OF NY MELLON CORP US06406HCZ01 24-Feb-2020 1250 FIXED 2.15 100.47 100.47 2.03 A+/A1/AA- UNITED STATES Sr Unsecured

BARCLAYS PLC US06738EAG08 8-Jun-2020 1000 FIXED 2.88 100.52 100.52 2.76 BBB/Baa3/A UNITED KINGDOM Sr Unsecured

BNP PARIBAS US05579TED46 21-May-2020 1500 FIXED 2.38 100.38 100.38 2.29 A+/A1/A+ FRANCE Sr Unsecured

BP CAPITAL MARKETS PLC US05565QCX43 13-Feb-2020 1250 FIXED 2.32 100.85 100.85 2.11 A/A2/- UNITED KINGDOM Sr Unsecured

BPCE SA US05578DAR35 27-Jan-2020 750 FIXED 2.25 100.18 100.18 2.20 A/A2/A FRANCE Sr Unsecured

CATERPILLAR FINANCIAL SE US14912L6J50 5-Mar-2020 500 FIXED 2.00 99.34 99.34 2.16 A/A2/A UNITED STATES Sr Unsecured

CHEVRON CORP US166764AR12 3-Mar-2020 1750 FIXED 1.96 100.11 100.11 1.93 AA/Aa1/- UNITED STATES Sr Unsecured

CITIGROUP INC US172967JN28 27-Apr-2018 2500 FIXED 1.70 99.67 99.67 1.83 A-/Baa1/A UNITED STATES Sr Unsecured

CONOCOPHILLIPS COMPANY US20826FAJ57 15-May-2020 500 FIXED 2.20 100.35 100.35 2.12 A/A2/A UNITED STATES Sr Unsecured

CRED SUIS GP FUN LTD USG25417AB52 26-Mar-2020 1500 FIXED 2.75 100.08 100.08 2.73 BBB+/Baa2/A SWITZERLAND Sr Unsecured

CREDIT SUISSE NEW YORK US22546QAV95 27-Apr-2018 2750 FIXED 1.70 99.84 99.84 1.77 A/A1/A SWITZERLAND Sr Unsecured

DAIMLER FINANCE NA LLC USU2339CCA46 3-Aug-2018 1000 FIXED 2.00 99.37 99.37 2.23 A-/A3/A- GERMANY Sr Unsecured

DAIMLER FINANCE NA LLC USU2339CAZ15 31-Jul-2019 750 FIXED 2.25 97.97 97.97 2.82 A-/A3/A- GERMANY Sr Unsecured

DAIMLER FINANCE NA LLC USU2339CBW74 18-May-2020 1300 FIXED 2.45 98.00 98.00 2.92 A-/A3/A- GERMANY Sr Unsecured

DEUTSCHE BANK AG LONDON US25152RYD96 13-Feb-2018 2000 FIXED 1.88 100.35 100.35 1.72 BBB+/A3/A GERMANY Sr Unsecured

EXXON MOBIL CORPORATION US30231GAG73 6-Mar-2020 1500 FIXED 1.91 100.91 100.91 1.69 AAA/Aaa/- UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397XH12 15-Jun-2018 1000 FIXED 2.24 99.89 99.89 2.28 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397WY53 4-Nov-2019 1250 FIXED 2.60 99.53 99.53 2.72 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FREEPORT-MCMORAN INC US35671DBD66 15-Mar-2018 1500 FIXED 2.38 89.00 89.00 7.42 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

FREEPORT-MCMORAN INC US35671DBG97 15-Mar-2020 998 FIXED 3.10 83.14 83.14 7.67 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAV82 10-Apr-2018 850 FIXED 2.40 98.83 98.83 2.89 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAY22 13-Jul-2020 1500 FIXED 3.20 98.98 98.98 3.43 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured


GLENCORE FUNDING LLC XS0938722401 15-Jan-2019 1500 FIXED 2.50 84.86 84.86 7.84 BBB/Baa2/- SWITZERLAND Sr Unsecured




October 7, 2015 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


GOLDCORP INC US380956AC63 15-Mar-2018 500 FIXED 2.13 97.75 97.75 3.10 BBB+/Baa2/BBB CANADA Sr Unsecured

GOLDMAN SACHS GROUP INC US38148LAA44 23-Apr-2020 1700 FIXED 2.60 100.71 100.71 2.43 A-/A3/A UNITED STATES Sr Unsecured

HSBC USA INC US40434CAC91 23-Jun-2019 750 FIXED 2.25 100.31 100.31 2.16 A/A2/AA- UNITED STATES Sr Unsecured

HSBC USA INC US40428HPR74 5-Mar-2020 1750 FIXED 2.35 99.27 99.27 2.53 A/A2/AA- UNITED STATES Sr Unsecured

IBM CORP US459200HM60 15-May-2020 1250 FIXED 1.63 99.02 99.02 1.85 AA-/Aa3/A+ UNITED STATES Sr Unsecured

IMPERIAL TOBACCO FINANCE USG4721VNR17 20-Jul-2018 500 FIXED 2.05 99.88 99.88 2.10 BBB/Baa3/- UNITED KINGDOM Sr Unsecured

IMPERIAL TOBACCO FINANCE USG4721VNS99 21-Jul-2020 1250 FIXED 2.95 100.36 100.36 2.87 BBB/Baa3/- UNITED KINGDOM Sr Unsecured

JPMORGAN CHASE & CO US48127HAA77 22-Oct-2019 2000 FIXED 2.20 100.30 100.30 2.12 A/A3/A+ UNITED STATES Sr Unsecured

JPMORGAN CHASE & CO US46625HKA76 23-Jan-2020 3750 FIXED 2.25 99.56 99.56 2.36 A/A3/A+ UNITED STATES Sr Unsecured

LLOYDS BANK PLC US53944VAE92 17-Mar-2020 1000 FIXED 2.40 100.36 100.36 2.31 A/A1/A+ UNITED KINGDOM Sr Unsecured

MACQUARIE BANK LTD US55608RAM25 21-Jan-2020 750 FIXED 2.40 99.76 100.19 2.35 A/A2/A AUSTRALIA Sr Unsecured

MARATHON OIL CORP US565849AN67 1-Jun-2020 600 FIXED 2.70 97.33 97.33 3.33 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured

MCDONALD'S CORP US58013MET71 26-May-2020 700 FIXED 2.20 100.20 100.20 2.15 A-/A3/BBB+ UNITED STATES Sr Unsecured

MERCK & CO INC US58933YAS46 10-Feb-2020 1250 FIXED 1.85 100.47 100.47 1.74 AA/A2/A UNITED STATES Sr Unsecured

MONSANTO CO US61166WAS08 15-Jul-2019 500 FIXED 2.13 100.52 100.52 1.98 BBB+/A3/A- UNITED STATES Sr Unsecured

MUFG AMERICAS HLDGS CORP US553794AB47 10-Feb-2020 1000 FIXED 2.25 99.63 99.63 2.34 A/A3/A UNITED STATES Sr Unsecured

MUFG UNION BANK NA US90520EAF88 6-May-2019 500 FIXED 2.25 100.53 100.53 2.09 A+/A2/A UNITED STATES Sr Unsecured

PEPSICO INC US713448CS53 30-Apr-2020 750 FIXED 1.85 99.87 99.87 1.88 A/A1/A UNITED STATES Sr Unsecured

RABOBANK NEDERLAND NY US21688AAD46 14-Jan-2020 1000 FIXED 2.25 100.22 100.22 2.20 A+/Aa2/- NETHERLANDS Sr Unsecured

ROYAL BANK OF CANADA US780082AA14 5-Feb-2020 2000 FIXED 1.88 99.90 99.90 1.90 -/Aaa/AAA CANADA Secured

SANTANDER BANK NA US80280JDB44 12-Jan-2018 750 FIXED 2.00 99.38 99.38 2.28 BBB+/Baa2/- UNITED STATES Sr Unsecured

SANTANDER HOLDINGS USA US80282KAD81 17-Apr-2020 1000 FIXED 2.65 98.53 98.53 3.00 BBB+/Baa2/- UNITED STATES Sr Unsecured

SHELL INTERNATIONAL FIN US822582BG61 11-May-2020 2000 FIXED 2.13 100.46 100.46 2.02 AA-/Aa1/- NETHERLANDS Sr Unsecured

SIEMENS FINANCIERINGSMAT DE000A1G0WD5 16-Aug-2019 1500 FIXED 1.65 98.35 99.14 1.88 A+/A1/A GERMANY Sr Unsecured

SIEMENS FINANCIERINGSMAT USN82008AC20 27-May-2020 1000 FIXED 2.15 100.57 100.57 2.02 A+/A1/A GERMANY Sr Unsecured

STANDARD CHARTERED PLC XS1219971931 17-Apr-2020 1250 FIXED 2.25 97.34 97.34 2.88 A-/Aa3/AA- UNITED KINGDOM Sr Unsecured

UBS AG STAMFORD CT US90261XHK19 26-Mar-2020 1500 FIXED 2.35 100.13 100.13 2.32 A/A2/A SWITZERLAND Sr Unsecured

VODAFONE GROUP PLC US92857WBE93 19-Feb-2018 1400 FIXED 1.50 99.50 99.50 1.72 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured

VOLKSWAGEN GROUP AMERICA USU9273AAM72 22-May-2020 750 FIXED 2.40 93.22 93.22 4.03 A /*-/A2/- GERMANY Sr Unsecured

WELLS FARGO & COMPANY US94974BFU98 22-Apr-2019 1750 FIXED 2.13 101.09 101.09 1.81 A+/A2/AA- UNITED STATES Sr Unsecured

WELLS FARGO & COMPANY US94974BGF13 30-Jan-2020 2000 FIXED 2.15 100.15 100.15 2.11 A+/A2/AA- UNITED STATES Sr Unsecured



October 7, 2015 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ABU DHABI NATIONAL ENERG XS0863523972 12-Jan-2018 750 FIXED 2.50 100.10 100.10 2.45 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured

ABU DHABI NATIONAL ENERG XS0863524277 12-Jan-2023 1250 FIXED 3.63 98.17 98.17 3.92 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured

ABU DHABI NATIONAL ENERG XS1017435352 6-May-2024 750 FIXED 3.88 98.96 99.54 3.94 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS0897453907 6-Mar-2018 750 FIXED 2.50 100.64 101.19 1.99 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS1040257062 4-Mar-2019 750 FIXED 3.00 101.65 101.65 2.49 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS1110651012 16-Sep-2019 600 FIXED 2.75 100.50 101.07 2.46 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS1199968998 10-Mar-2020 750 FIXED 2.63 100.31 100.31 2.55 A/-/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS0897453493 6-Mar-2023 750 FIXED 4.50 101.25 101.25 4.30 A-/NR/A UNITED ARAB EMIRATES Subordinated

ADCB FINANCE CAYMAN LTD XS0937539921 28-May-2023 300 VARIABLE 3.13 100.01 100.01 3.12 A-/NR/A UNITED ARAB EMIRATES Subordinated

BANK MUSCAT SAOG XS0908549685 26-Mar-2018 500 FIXED 2.50 99.87 100.56 2.26 A-/A1/BBB+ OMAN Sr Unsecured

BATELCO INT FIN NO 1 LTD XS0927183441 1-May-2020 519 FIXED 4.25 97.30 97.30 4.92 BB+/-/BBB- BAHRAIN Sr Unsecured

BOS FUNDING LTD XS1117297272 8-Jun-2020 500 FIXED 3.37 97.21 97.75 3.91 -/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured

CBQ FINANCE LTD XS0771860003 11-Apr-2017 500 FIXED 3.38 102.52 102.98 1.37 A-/A1/- QATAR Sr Unsecured

CBQ FINANCE LTD XS1079720212 24-Jun-2019 750 FIXED 2.88 101.74 102.40 2.20 A-/A1/- QATAR Sr Unsecured

COMMERCIAL BANK OF DUBAI XS0933999863 21-May-2018 500 FIXED 3.38 101.37 101.98 2.59 -/Baa1/A- UNITED ARAB EMIRATES Sr Unsecured

DEWA SUKUK 2013 LTD XS0897680558 5-Mar-2018 1000 FIXED 3.00 102.39 102.95 1.74 BBB/-/- UNITED ARAB EMIRATES Sr Unsecured

DIB SUKUK LTD XS1241110300 3-Jun-2020 750 FIXED 2.92 100.01 100.64 2.77 -/Baa1/A UNITED ARAB EMIRATES Sr Unsecured

DIFC SUKUK XS1120403313 12-Nov-2024 700 FIXED 4.33 100.11 100.74 4.23 BBB-/-/- UNITED ARAB EMIRATES Sr Unsecured

DP WORLD LTD XS1234270921 18-May-2020 500 FIXED 3.25 100.21 100.82 3.06 -/Baa3/BBB- UNITED ARAB EMIRATES Sr Unsecured

EMG SUKUK LTD XS1075401726 18-Jun-2024 750 FIXED 4.56 102.79 102.79 4.18 BBB-/Baa2/- UNITED ARAB EMIRATES Sr Unsecured

EMIRATES AIRLINES XS0885065887 6-Feb-2025 679 FIXED 4.50 101.35 101.35 4.18 -/-/- UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS0765257141 28-Mar-2017 1000 FIXED 4.63 103.50 103.50 2.19 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS0632908314 31-May-2018 332 FLOATING 1.83 99.52 100.63 1.59 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS1138457590 19-Nov-2019 1000 FIXED 3.25 101.52 102.09 2.71 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS1227814883 6-May-2020 350 FIXED 3.00 100.50 101.11 2.74 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES TELECOM CORP XS1077881743 18-Jun-2019 900 FIXED 2.38 100.50 100.50 2.23 AA-/Aa3/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES TELECOM CORP XS1077883012 18-Jun-2024 500 FIXED 3.50 101.88 101.88 3.25 AA-/Aa3/A+ UNITED ARAB EMIRATES Sr Unsecured

FGB SUKUK COMPANY LTD XS0731930797 18-Jan-2017 500 FIXED 4.05 102.87 103.40 1.35 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

FIRST GULF BANK XS0840538994 9-Oct-2017 650 FIXED 2.86 101.78 102.38 1.65 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

FIRST GULF BANK XS0992167865 14-Jan-2019 500 FIXED 3.25 102.77 103.39 2.17 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

FIRST GULF BANK XS1193304596 24-Feb-2020 750 FIXED 2.63 100.17 100.83 2.42 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

HSBC BNK MIDDLE EAST LTD XS1114125534 1-Oct-2019 400 FIXED 2.75 100.91 101.48 2.36 -/A2/AA- UNITED ARAB EMIRATES Sr Unsecured

ICD FUNDING LTD XS1069870415 21-May-2024 300 FIXED 4.63 99.01 99.84 4.65 -/-/- UNITED ARAB EMIRATES Sr Unsecured

ICD SUKUK CO LTD XS1069869839 21-May-2020 700 FIXED 3.51 99.37 100.10 3.48 -/-/- UNITED ARAB EMIRATES Sr Unsecured

KINGDOM OF BAHRAIN XS1110833123 19-Sep-2044 1250 FIXED 6.00 86.10 87.18 7.04 BBB-/-/BBB- BAHRAIN Unsecured



October 7, 2015 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


MAF GLOBAL SECURITIES XS1064799841 7-May-2024 500 FIXED 4.75 103.13 103.13 4.31 BBB/-/BBB UNITED ARAB EMIRATES Sr Unsecured

MASHREQBANK PSC XS0283928264 24-Jan-2017 354 FLOATING 1.42 97.12 98.39 2.70 BBB/Ba2/A- UNITED ARAB EMIRATES Subordinated

MDC-GMTN B.V. XS1062852253 28-Apr-2022 750 FIXED 3.25 102.18 102.18 2.88 AA/Aa2/AA UNITED ARAB EMIRATES Sr Unsecured

MUBADALA GE CAPITAL LTD XS1198082437 10-Nov-2019 500 FIXED 3.00 99.27 100.04 2.99 -/Baa2/A UNITED ARAB EMIRATES Sr Unsecured

MUMTALAKAT SUKUK HOLDING XS1143085014 25-Nov-2021 600 FIXED 4.00 98.95 99.73 4.05 BBB-/-/BBB- BAHRAIN Sr Unsecured

NATIONAL BANK OF OMAN XS1117537172 7-Oct-2019 500 FIXED 3.13 101.56 102.34 2.51 -/A3/- OMAN Sr Unsecured

NATIONAL BK OF ABU DHABI XS0763531406 27-Mar-2017 750 FIXED 3.25 102.36 102.87 1.27 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured

NATIONAL BK OF ABU DHABI XS0815939656 13-Aug-2019 750 FIXED 3.00 102.97 102.97 2.19 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured

NATIONAL BK OF ABU DHABI XS1186986904 11-Feb-2020 750 FIXED 2.25 99.54 100.27 2.18 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured

OOREDOO INTERNATIONAL FI XS0866438475 21-Feb-2023 1000 FIXED 3.25 97.75 97.75 3.60 A-/A2/A+ QATAR Sr Unsecured

OOREDOO INTERNATIONAL FI XS0880134258 31-Jan-2028 500 FIXED 3.88 96.45 96.45 4.25 A-/A2/A+ QATAR Sr Unsecured

OOREDOO INTERNATIONAL FI XS0881740384 31-Jan-2043 500 FIXED 4.50 99.00 99.00 4.56 A-/A2/A+ QATAR Sr Unsecured

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 102.81 103.33 1.94 A-/A2/A+ QATAR Sr Unsecured

QNB FINANCE LTD XS0748305017 22-Feb-2017 1000 FIXED 3.38 103.00 103.00 1.16 A+/Aa3/AA- QATAR Sr Unsecured

QNB FINANCE LTD XS0854469599 14-Feb-2018 1000 FIXED 2.13 100.50 100.50 1.91 A+/Aa3/AA- QATAR Sr Unsecured

QNB FINANCE LTD XS0987063566 31-Oct-2018 750 FIXED 2.75 101.74 102.26 1.99 A+/Aa3/AA- QATAR Sr Unsecured

QNB FINANCE LTD XS0923450414 29-Apr-2020 1000 FIXED 2.88 101.79 101.79 2.46 -/Aa3/AA- QATAR Sr Unsecured

RAK CAPITAL XS0981184541 21-Oct-2018 500 FIXED 3.30 103.50 104.19 1.87 A/-/A UNITED ARAB EMIRATES Sr Unsecured

RAKFUNDING CAYMAN LTD XS1078355986 24-Jun-2019 800 FIXED 3.25 100.15 100.75 3.03 -/Baa1/BBB+ UNITED ARAB EMIRATES Sr Unsecured

SABIC CAPITAL II BV XS0971431613 3-Oct-2018 1000 FIXED 2.63 100.70 101.35 2.16 A+/A1/A+ SAUDI ARABIA Sr Unsecured

SAUDI ELECTRICITY GLOBAL XS0764883806 3-Apr-2017 500 FIXED 2.67 101.53 102.05 1.27 AA-/A1/AA- SAUDI ARABIA Sr Unsecured



SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 104.32 105.05 3.11 A/A3/- UNITED ARAB EMIRATES Sr Unsecured

SIB SUKUK CO III LTD XS0916902769 16-Apr-2018 500 FIXED 2.95 101.30 101.93 2.16 BBB+/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured

SIB SUKUK CO III LTD XS1202089428 17-Mar-2020 500 FIXED 2.84 100.05 100.67 2.68 -/A3/- UNITED ARAB EMIRATES Sr Unsecured

SOQ SUKUK A Q.S.C XS0801656256 18-Jan-2018 2000 FIXED 2.10 101.77 101.77 1.31 AA/Aa2/- QATAR Sr Unsecured


TAQA ABU DHABI NATL ENER XS0717839525 13-Mar-2017 750 FIXED 4.13 103.04 103.63 1.54 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured



October 7, 2015 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


AMERICA MOVIL SAB DE CV US02364WBD65 16-Jul-2022 1600 FIXED 3.13 98.14 98.14 3.43 A-/A2/A MEXICO Sr Unsecured

AMERICA MOVIL SAB DE CV US02364WBE49 16-Jul-2042 1150 FIXED 4.38 90.75 90.75 5.01 A-/A2/A MEXICO Sr Unsecured

BANCO BTG PACTUAL/CAYMAN US05971BAB53 16-Jan-2020 1000 FIXED 4.00 83.88 83.88 8.60 -/Baa3/BBB- BRAZIL Sr Unsecured

BANCO DO BRASIL (CAYMAN) US05958AAJ79 10-Oct-2022 1925 FIXED 3.88 82.50 82.50 7.09 BB+/Baa3/BBB BRAZIL Sr Unsecured

BANCO NAC DE DESEN ECONO USP14486AK37 14-Apr-2019 1000 FIXED 4.00 92.75 92.75 6.34 BB+/Baa3/- BRAZIL Sr Unsecured

BANCO NAC DE DESEN ECONO USP14486AJ63 26-Sep-2023 1750 FIXED 5.75 90.75 90.75 7.30 BB+/Baa3/BBB BRAZIL Sr Unsecured

CAIXA ECONOMICA FEDERAL US12803X2C42 3-Oct-2018 1250 FIXED 4.50 94.50 94.50 6.57 BB+/Baa3/BBB BRAZIL Sr Unsecured

CAIXA ECONOMICA FEDERAL US12803X2D25 13-May-2019 1300 FIXED 4.25 91.50 91.50 6.97 BB+/Baa3/BBB BRAZIL Sr Unsecured

COMISION FED DE ELECTRIC USP30179AK43 14-Feb-2042 750 FIXED 5.75 95.78 96.78 5.99 BBB+/Baa1/BBB+ MEXICO Sr Unsecured

ECOPETROL SA US279158AK55 16-Jan-2025 1200 FIXED 4.13 87.59 87.59 5.88 BBB/Baa2/BBB COLOMBIA Sr Unsecured

ECOPETROL SA US279158AL39 26-Jun-2026 1500 FIXED 5.38 91.75 91.75 6.45 BBB/Baa2/BBB COLOMBIA Sr Unsecured

ECOPETROL SA US279158AJ82 28-May-2045 2000 FIXED 5.88 81.02 81.02 7.48 BBB/Baa2/BBB COLOMBIA Sr Unsecured

EMBRAER NETHERLANDS FINA US29082HAA05 15-Jun-2025 1000 FIXED 5.05 94.25 94.25 5.84 BBB/Baa3/- BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BU30 5-Jan-2023 2150 FIXED 2.63 85.15 85.75 5.00 BB+/Baa3/BBB BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BV13 7-Jan-2025 4300 FIXED 4.25 90.75 92.53 5.28 BB+/Baa3/BBB BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BR01 7-Jan-2041 2504 FIXED 5.63 85.00 86.00 6.79 BB+/Baa3/BBB BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BW95 27-Jan-2045 3550 FIXED 5.00 79.50 79.50 6.59 BB+/Baa3/BBB BRAZIL Sr Unsecured

FOMENTO ECONOMICO MEX US344419AB20 10-May-2043 700 FIXED 4.38 93.04 93.04 4.83 A-/-/A MEXICO Sr Unsecured

GERDAU TRADE INC USG3925DAA84 30-Jan-2021 1250 FIXED 5.75 90.50 90.50 7.98 BBB-/NR/BBB- BRAZIL Sr Unsecured

GERDAU TRADE INC USG3925DAB67 15-Apr-2023 750 FIXED 4.75 81.25 81.25 8.14 BBB-/Baa3/BBB- BRAZIL Sr Unsecured

GRUPO TELEVISA SAB US40049JBA43 13-May-2045 1000 FIXED 5.00 90.49 90.49 5.67 BBB+/Baa1/BBB+ MEXICO Sr Unsecured

LUKOIL INTL FINANCE BV XS0919502434 24-Apr-2018 1500 FIXED 3.42 96.90 96.90 4.72 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

LUKOIL INTL FINANCE BV XS0304274599 7-Jun-2022 500 FIXED 6.66 102.35 102.35 6.22 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

LUKOIL INTL FINANCE BV XS0919504562 24-Apr-2023 1500 FIXED 4.56 90.35 90.35 6.18 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

MMC NORILSK NICK VIA MMC XS0982861287 28-Oct-2020 1000 FIXED 5.55 99.91 99.91 5.57 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

PETROLEOS MEXICANOS US71654QBG64 30-Jan-2023 2100 FIXED 3.50 94.00 94.00 4.47 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PETROLEOS MEXICANOS US71656MBA62 15-Jan-2025 1000 FIXED 4.25 95.38 95.38 4.88 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PETROLEOS MEXICANOS US71656MBD02 23-Jan-2026 1500 FIXED 4.50 97.00 97.00 4.87 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PETROLEOS MEXICANOS US71656MBE84 23-Jan-2046 3000 FIXED 5.63 88.76 88.76 6.48 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PHILIPPINE GOVERNMENT PHY6972FTP53 4-Jun-2023 500 FIXED 2.75 98.11 99.37 2.84 -/Baa2/- PHILIPPINES Sr Unsecured

REPUBLIC OF AZERBAIJAN XS1044540547 18-Mar-2024 1250 FIXED 4.75 97.45 98.30 5.00 -/Baa3/BBB- AZERBAIJAN Sr Unsecured

REPUBLIC OF COLOMBIA USP3772NHK11 15-Mar-2023 1000 FIXED 2.63 91.50 91.50 3.96 BBB/Baa2/BBB COLOMBIA Sr Unsecured

REPUBLIC OF COLOMBIA US195325BQ70 26-Feb-2024 2100 FIXED 4.00 99.25 99.25 4.11 BBB/Baa2/BBB COLOMBIA Sr Unsecured

REPUBLIC OF COLOMBIA US195325CU73 15-Jun-2045 2500 FIXED 5.00 91.75 91.75 5.57 BBB/Baa2/BBB COLOMBIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BC22 25-Apr-2022 2000 FIXED 3.75 98.23 99.03 3.92 BB+/Baa3/BBB- INDONESIA Sr Unsecured



October 7, 2015 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


REPUBLIC OF INDONESIA USY20721BD05 15-Apr-2023 1500 FIXED 3.38 94.55 95.21 4.12 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BG36 15-Jan-2025 2000 FIXED 4.13 98.59 99.11 4.24 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BB49 17-Jan-2042 2250 FIXED 5.25 96.38 97.05 5.46 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BE87 15-Apr-2043 1500 FIXED 4.63 89.91 90.90 5.25 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BM04 15-Jan-2045 2000 FIXED 5.13 94.17 94.80 5.48 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1120709669 14-Oct-2024 1500 FIXED 3.88 92.95 93.73 4.74 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1263054519 21-Jul-2025 2500 FIXED 5.13 99.48 100.18 5.10 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1120709826 14-Oct-2044 1000 FIXED 4.88 83.07 83.97 6.05 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1263139856 21-Jul-2045 1500 FIXED 6.50 98.84 99.74 6.52 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF PANAMA US698299BE38 16-Mar-2025 1250 FIXED 3.75 100.07 100.92 3.63 BBB/Baa2/BBB PANAMA Sr Unsecured

REPUBLIC OF TURKEY US900123CA66 23-Mar-2023 1500 FIXED 3.25 91.95 92.40 4.46 -/Baa3/BBB- TURKEY Sr Unsecured

REPUBLIC OF TURKEY US900123CJ75 14-Apr-2026 1500 FIXED 4.25 94.62 95.18 4.84 -/Baa3/BBB- TURKEY Sr Unsecured

REPUBLIC OF TURKEY US900123CB40 16-Apr-2043 3000 FIXED 4.88 88.91 89.54 5.63 -/Baa3/BBB- TURKEY Sr Unsecured

TRANSPORT DE GAS PERU USP9367RAG67 30-Apr-2028 850 FIXED 4.25 94.78 94.78 4.89 BBB+/Baa1/BBB+ PERU Sr Unsecured

TURK TELEKOMUNIKASYON AS XS1028952155 19-Jun-2019 500 FIXED 3.75 98.30 98.30 4.25 BBB-/-/BBB- TURKEY Sr Unsecured

TURK TELEKOMUNIKASYON AS XS1028951264 19-Jun-2024 500 FIXED 4.88 92.30 92.30 6.02 BBB-/-/BBB- TURKEY Sr Unsecured

UNITED MEXICAN STATES US91087BAA89 30-Jan-2025 3000 FIXED 3.60 101.30 101.30 3.44 BBB+/A3/BBB+ MEXICO Sr Unsecured

UNITED MEXICAN STATES US91086QBB32 8-Mar-2044 4463 FIXED 4.75 96.00 97.00 4.95 BBB+/A3/BBB+ MEXICO Sr Unsecured

UNITED MEXICAN STATES US91086QBF46 23-Jan-2046 3000 FIXED 4.60 94.25 94.25 4.97 BBB+/A3/BBB+ MEXICO Sr Unsecured

VALE OVERSEAS LIMITED US91911TAM53 11-Jan-2022 2250 FIXED 4.38 92.04 92.04 5.92 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

VALE OVERSEAS LIMITED US91911TAH68 21-Nov-2036 2500 FIXED 6.88 81.32 81.32 8.84 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

VALE OVERSEAS LIMITED US91911TAK97 10-Nov-2039 1750 FIXED 6.88 80.63 80.63 8.83 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

VALE SA US91912EAA38 11-Sep-2042 1500 FIXED 5.63 72.96 72.96 8.11 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

YAPI VE KREDI BANKASI XS0874840688 22-Jan-2020 500 FIXED 4.00 93.52 93.52 5.72 -/Baa3/BBB TURKEY Sr Unsecured



October 7, 2015 USD INDIA INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ADANI PORTS AND SPECIAL USY00130CZ88 29-Jul-2020 650 FIXED 3.50 100.44 100.44 3.40 BBB-/Baa3/BBB- INDIA Sr Unsecured

AE ROTOR HOLDING BV XS0907891047 28-Mar-2018 647 FIXED 4.97 102.65 102.65 3.86 -/Baa3/- INDIA Sr Unsecured

AXIS BANK/DUBAI US05463EAC21 21-May-2020 750 FIXED 3.25 101.20 101.20 2.97 BBB-/Baa3/BBB- INDIA Sr Unsecured

BANK OF INDIA LONDON USY06865AA04 21-Sep-2018 500 FIXED 3.63 102.53 102.53 2.72 BBB-/Baa3/- INDIA Sr Unsecured

BANK OF INDIA/JERSEY XS1227592703 6-May-2020 750 FIXED 3.13 99.53 99.87 3.16 BBB-/Baa3/- INDIA Sr Unsecured

BHARAT PETROLEUM CORP XS1227064430 8-May-2025 500 FIXED 4.00 97.53 98.32 4.21 -/Baa3/BBB- INDIA Sr Unsecured

BHARAT PETROLEUM CORP LT XS0848436365 25-Oct-2022 500 FIXED 4.63 103.11 103.11 4.11 -/Baa3/BBB- INDIA Sr Unsecured

BHARTI AIRTEL LTD USY0889VAA80 10-Jun-2025 1000 FIXED 4.38 100.26 100.26 4.34 BBB-/Baa3/BBB- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS0813393849 7-Aug-2017 500 FIXED 4.00 103.42 103.42 2.08 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS1050464996 2-Oct-2019 500 FIXED 3.88 104.12 104.12 2.77 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS1209864229 1-Apr-2020 500 FIXED 2.75 99.21 99.62 2.84 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS1165130219 12-Aug-2020 500 FIXED 2.75 99.01 99.47 2.87 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS0872917660 14-Jan-2023 750 FIXED 4.00 102.08 102.08 3.67 BBB-/Baa3/- INDIA Sr Unsecured

HDFC BANK LTD/BAH XS0897434949 6-Mar-2018 500 FIXED 3.00 101.41 101.70 2.27 BBB-/Baa3/- INDIA Sr Unsecured

ICICI BANK LTD/DUBAI US45112FAG19 18-Mar-2020 700 FIXED 3.50 101.88 101.88 3.04 BBB-/Baa3/BBB- INDIA Sr Unsecured

ICICI BANK LTD/DUBAI XS1274011102 12-Aug-2020 500 FIXED 3.13 99.69 100.12 3.10 BBB-/Baa3/- INDIA Sr Unsecured

IDBI BANK LTD/DIFC DUBAI XS0832492267 26-Mar-2018 500 FIXED 4.38 102.63 102.63 3.26 BB+/Baa3/BBB- INDIA Sr Unsecured

INDIAN RAILWAY FINANCE C XS0836520717 10-Oct-2017 300 FIXED 3.42 101.98 101.98 2.40 BBB-/Baa3/BBB- INDIA Sr Unsecured

INDIAN RAILWAY FINANCE C XS1016035476 26-Feb-2019 500 FIXED 3.92 103.58 103.92 2.69 BBB-/Baa3/BBB- INDIA Sr Unsecured

NTPC LTD XS1143390679 26-Nov-2024 500 FIXED 4.38 101.33 101.33 4.20 BBB-/-/BBB- INDIA Sr Unsecured

OIL INDIA LTD XS1057074871 17-Apr-2019 500 FIXED 3.88 102.99 103.33 2.88 -/Baa2/BBB- INDIA Sr Unsecured

ONGC VIDESH LTD XS1084957155 15-Jul-2019 750 FIXED 3.25 100.97 100.97 2.98 BBB-/Baa2/- INDIA Sr Unsecured

ONGC VIDESH LTD XS0922882344 7-May-2023 500 FIXED 3.75 98.02 98.02 4.06 BBB-/Baa2/- INDIA Sr Unsecured

ONGC VIDESH LTD XS1079848369 15-Jul-2024 750 FIXED 4.63 102.74 103.45 4.15 BBB-/Baa2/- INDIA Sr Unsecured

POWER GRID CORP OF INDIA XS0875759184 17-Jan-2023 500 FIXED 3.88 99.47 99.47 3.96 BBB-/-/BBB- INDIA Sr Unsecured

RELIANCE INDUSTRIES LTD USY72596BU56 28-Jan-2025 1000 FIXED 4.13 100.30 100.30 4.08 BBB+/Baa2/- INDIA Sr Unsecured

RELIANCE INDUSTRIES LTD USY72570AM99 10-Feb-2045 750 FIXED 4.88 90.38 90.38 5.54 BBB+/Baa2/- INDIA Sr Unsecured

STATE BANK INDIA/LONDON USU85528AB04 1-Aug-2017 1250 FIXED 4.13 103.75 103.75 1.99 BBB-/Baa3/BBB- INDIA Sr Unsecured

STATE BANK INDIA/LONDON USY81636AC94 18-Apr-2018 1000 FIXED 3.25 102.12 102.12 2.38 BBB-/Baa3/BBB- INDIA Sr Unsecured

STATE BANK INDIA/LONDON USY81647AA02 17-Apr-2019 750 FIXED 3.62 102.95 102.95 2.74 BBB-/Baa3/BBB- INDIA Sr Unsecured

SYNDICATE BANK XS0841358103 12-Apr-2018 500 FIXED 4.13 102.87 103.21 2.79 BBB-/Baa3/- INDIA Sr Unsecured

SYNDICATE BANK/LONDON XS1073127901 4-Dec-2019 400 FIXED 3.88 102.17 102.64 3.19 BBB-/Baa3/- INDIA Sr Unsecured

UNION BANK OF INDIA HK XS0819566182 22-Aug-2017 350 FIXED 4.63 103.89 103.89 2.48 BBB-/Baa3/- INDIA Sr Unsecured

UNION BANK OF INDIA HK XS0923436264 25-Oct-2018 350 FIXED 3.63 101.97 102.42 2.79 BBB-/Baa3/- INDIA Sr Unsecured



October 7, 2015 USD SUKUK


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ADCB ISLAMIC FINANCE CAY XS0708308845 22-Nov-2016 500 FIXED 4.07 102.79 102.79 1.55 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured

EMG SUKUK LTD XS1075401726 18-Jun-2024 750 FIXED 4.56 102.79 102.79 4.18 BBB-/Baa2/- UNITED ARAB EMIRATES Sr Unsecured

EMAAR SUKUK LTD XS0805885349 18-Jul-2019 500 FIXED 6.40 112.17 112.17 2.97 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured

EMAAR SUKUK LTD XS0586840588 3-Aug-2016 500 FIXED 8.50 105.66 106.15 0.93 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured

HONG KONG SUKUK USY35527AA11 18-Sep-2019 1000 FIXED 2.01 100.67 101.14 1.70 AAA/Aa1/- HONG KONG Unsecured

HONG KONG SUKUK 2015 LTD XS1226268735 3-Jun-2020 1000 FIXED 1.89 99.97 100.41 1.80 AAA/Aa1/- HONG KONG Secured

IDB TRUST SERVICES LTD XS0939694138 4-Jun-2018 1000 FIXED 1.54 100.34 101.07 1.13 AAA/Aaa/AAA SUPRANATIONAL Sr Unsecured

MALAYSIA SOVEREIGN SUKUK USY5749LAA99 22-Apr-2025 1000 FIXED 3.04 96.02 96.69 3.45 A-/A3/- MALAYSIA Unsecured

MALAYSIA SOVEREIGN SUKUK USY5749LAB72 22-Apr-2045 500 FIXED 4.24 90.81 92.78 4.69 A-/A3/- MALAYSIA Unsecured

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 102.81 103.33 1.94 A-/A2/A+ QATAR Sr Unsecured

ISLAMIC REP OF PAKISTAN XS1147732553 3-Dec-2019 1000 FIXED 6.75 102.71 103.55 5.77 B-/B3/- PAKISTAN Sr Unsecured

PERUSAHAAN PENERBIT SBSN USY68616AA22 21-Nov-2018 1000 FIXED 4.00 104.23 104.72 2.41 BB+/Baa3/BBB- INDONESIA Sr Unsecured

PERUSAHAAN PENERBIT SBSN US71567RAC07 10-Sep-2024 1500 FIXED 4.35 97.00 97.00 4.77 (P)BB+/Baa3/BBB- INDONESIA Sr Unsecured

PERUSAHAAN PENERBIT SBSN US71567RAB24 15-Mar-2019 1500 FIXED 6.13 110.24 110.88 2.77 BB+/Baa3/BBB- INDONESIA Sr Unsecured

PERUSAHAAN PENERBIT SBSN US71567RAA41 21-Nov-2022 1000 FIXED 3.30 93.34 94.11 4.27 BB+/Baa3/BBB- INDONESIA Sr Unsecured

PETRONAS GLOBAL SUKUK LT USY68868AA92 18-Mar-2020 1250 FIXED 2.71 100.19 100.19 2.66 A-/A1/- MALAYSIA Sr Unsecured





SAUDI ELEC GLOBAL SUKUK XS1054250318 8-Apr-2044 1000 FIXED 5.50 99.94 99.94 5.50 AA-/A1/AA- SAUDI ARABIA Sr Unsecured

SAUDI ELEC GLOBAL SUKUK XS1054250235 8-Apr-2024 1500 FIXED 4.00 103.81 103.81 3.48 AA-/A1/AA- SAUDI ARABIA Sr Unsecured

SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 104.32 105.05 3.11 A/A3/- UNITED ARAB EMIRATES Sr Unsecured



SUKUK FUNDING NO3 LTD XS0993959583 3-Dec-2018 750 FIXED 4.35 105.19 105.70 2.46 BBB-/Baa3/- UNITED ARAB EMIRATES Sr Unsecured

WAKALA GLOBAL SUKUK BHD USY9485PAB86 6-Jul-2021 800 FIXED 4.65 109.34 109.80 2.78 A-/A3/- MALAYSIA Sr Unsecured

WAKALA GLOBAL SUKUK BHD USY9485PAA04 6-Jul-2016 1200 FIXED 2.99 101.19 101.34 1.14 A-/A3/- MALAYSIA Sr Unsecured



October 7, 2015 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ABN AMRO BANK NV XS1218821756 16-Apr-2025 1250 FIXED 1.00 93.88 94.36 1.64 A/A2/A NETHERLANDS Sr Unsecured

ANGLO AMERICAN CAPITAL XS0923361827 29-Apr-2021 750 FIXED 2.50 87.55 88.67 4.87 BBB-/Baa2/BBB UNITED KINGDOM Sr Unsecured

AT&T INC XS1196373507 5-Sep-2023 1250 FIXED 1.30 94.80 95.30 1.95 BBB+/Baa1/A- UNITED STATES Sr Unsecured

BANK OF AMERICA CORP XS1209863254 26-Mar-2025 750 FIXED 1.38 95.42 95.87 1.86 A-/Baa1/A UNITED STATES Sr Unsecured

BANKIA SA ES0413307093 25-Sep-2025 1000 FIXED 1.00 94.36 95.08 1.54 A/A1u/A- SPAIN Secured

BARCLAYS PLC XS1116480697 1-Apr-2022 1000 FIXED 1.50 98.70 99.13 1.64 BBB/Baa3/A UNITED KINGDOM Sr Unsecured

BERKSHIRE HATHAWAY INC XS1200670955 16-Mar-2023 750 FIXED 0.75 94.80 95.25 1.43 AA /*-/Aa2/A+ UNITED STATES Sr Unsecured

BHP BILLITON FINANCE LTD XS1225004461 28-Oct-2022 650 FIXED 0.75 93.20 93.87 1.68 A+/A1/A+ AUSTRALIA Sr Unsecured

BLACKROCK INC XS1117297785 6-May-2025 700 FIXED 1.25 94.38 95.03 1.82 AA-/A1/- UNITED STATES Sr Unsecured

BMW FINANCE NV XS1168962063 21-Jan-2025 750 FIXED 1.00 93.15 93.74 1.74 A+/A2/- GERMANY Sr Unsecured

BNP PARIBAS XS1190632999 17-Feb-2025 1500 FIXED 2.38 95.42 96.05 2.86 BBB/Baa2/A FRANCE Subordinated

BP CAPITAL MARKETS PLC XS1190973559 16-Feb-2023 1250 FIXED 1.11 96.02 96.52 1.61 A/A2/- UNITED KINGDOM Sr Unsecured

BPCE SA FR0012633345 12-Mar-2025 375 FIXED 2.25 92.62 93.00 3.12 BBB/Baa3/A- FRANCE Subordinated

BRISTOL-MYERS SQUIBB CO XS1226748439 15-May-2025 575 FIXED 1.00 94.60 95.13 1.55 A+/A2/A- UNITED STATES Sr Unsecured

CARREFOUR SA XS1179916017 3-Jun-2025 750 FIXED 1.25 94.52 95.16 1.80 BBB+/NR/BBB+ FRANCE Sr Unsecured

CITIGROUP INC XS1173792059 28-Jan-2025 1250 FIXED 1.75 98.47 98.90 1.88 A-/Baa1/A UNITED STATES Sr Unsecured

COCA-COLA CO/THE XS1197832915 9-Mar-2023 1500 FIXED 0.75 95.73 96.23 1.29 AA/Aa3/A+ UNITED STATES Sr Unsecured

CRED SUIS GP FUN LTD XS1218287230 14-Apr-2022 2250 FIXED 1.25 96.64 97.06 1.73 BBB+/Baa2/A SWITZERLAND Sr Unsecured

CREDIT AGRICOLE LONDON XS1169630602 19-Jan-2022 1500 FIXED 0.88 96.91 97.25 1.33 A/A2/A FRANCE Sr Unsecured

CREDIT AGRICOLE LONDON FR0012534931 13-Feb-2022 700 FIXED 0.89 97.36 97.66 1.27 A/A2/- FRANCE Sr Unsecured

CREDIT AGRICOLE LONDON FR0012770261 9-Jun-2022 500 FIXED 1.16 98.59 98.90 1.33 A/A2/- FRANCE Sr Unsecured

DANONE SA FR0012432912 14-Jan-2025 750 FIXED 1.13 95.47 96.04 1.59 A-/Baa1/- FRANCE Sr Unsecured

DEUTSCHE BANK AG DE000DB7XJJ2 17-Feb-2025 1250 FIXED 2.75 94.99 95.59 3.30 BBB-/Ba1/A- GERMANY Subordinated

DEUTSCHE BANK AG DE000DB7XJP9 17-Mar-2025 1500 FIXED 1.13 91.89 92.45 2.01 BBB+/A3/A GERMANY Sr Unsecured

EDP FINANCE BV XS1222590488 22-Apr-2025 750 FIXED 2.00 91.51 92.39 2.93 BB+/Baa3/BBB- PORTUGAL Sr Unsecured

ERSTE GROUP BANK AG AT000B002852 1-Jun-2021 359ZERO

COUPON0.00 92.61 92.87 1.32 -/Baa2/BBB+ AUSTRIA Sr Unsecured

GE CAPITAL EURO FUNDING XS1169353254 21-Jan-2022 1000 FIXED 0.80 97.69 98.04 1.13 AA+/A1/- UNITED STATES Sr Unsecured

GLENCORE FINANCE EUROPE XS1202846819 17-Mar-2021 1250 FIXED 1.25 77.34 78.38 6.03 BBB/Baa2/- SWITZERLAND Sr Unsecured

GLENCORE FINANCE EUROPE XS1110430193 18-Jan-2022 700 FIXED 1.63 76.35 77.49 6.04 BBB/Baa2/- SWITZERLAND Sr Unsecured

GLENCORE FINANCE EUROPE XS1202849086 17-Mar-2025 750 FIXED 1.75 73.80 74.99 5.16 BBB/Baa2/- SWITZERLAND Sr Unsecured

GOLDMAN SACHS GROUP INC XS1173845436 26-Jul-2022 1000 FIXED 1.38 98.13 98.49 1.61 A-/A3/A UNITED STATES Sr Unsecured

IBERDROLA INTL BV XS1171541813 27-Jan-2023 600 FIXED 1.13 96.32 96.83 1.59 BBB/Baa1/BBB+ SPAIN Sr Unsecured

INTESA SANPAOLO SPA XS1197351577 4-Mar-2022 1500 FIXED 1.13 95.56 95.99 1.79 BBB-/Baa1/BBB+ ITALY Sr Unsecured

JPMORGAN CHASE & CO XS1174469137 27-Jan-2025 1500 FIXED 1.50 97.81 98.26 1.70 A/A3/A+ UNITED STATES Sr Unsecured

LLOYDS BANK PLC XS1167204699 13-Jan-2025 1000 FIXED 1.25 96.74 97.31 1.56 A/A1/A+ UNITED KINGDOM Sr Unsecured



October 7, 2015 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


MACQUARIE BANK LTD XS1169353338 20-Jan-2022 500 FIXED 1.13 96.02 96.45 1.73 A/A2/A AUSTRALIA Sr Unsecured

MCDONALD'S CORP XS1237271009 26-May-2022 800 FIXED 1.13 98.23 98.71 1.33 A-/A3/BBB+ UNITED STATES Sr Unsecured

METRO AG XS1203941775 19-Mar-2025 600 FIXED 1.50 92.51 93.17 2.31 BBB-/Baa3u/BBB- GERMANY Sr Unsecured

MORGAN STANLEY XS1180256528 30-Jan-2025 1500 FIXED 1.75 98.19 98.72 1.90 A-/A3/A UNITED STATES Sr Unsecured

ROCHE FINANCE EUROPE BV XS1195056079 25-Feb-2025 1000 FIXED 0.88 95.58 96.17 1.31 AA/A1/- SWITZERLAND Sr Unsecured

SANTANDER ISSUANCES XS1201001572 18-Mar-2025 1500 FIXED 2.50 93.07 93.75 3.28 BBB/Baa2/BBB+ SPAIN Subordinated

SAP SE DE000A14KJF5 1-Apr-2025 600 FIXED 1.00 95.85 96.45 1.40 A/A2/- GERMANY Sr Unsecured

SOCIETE GENERALE XS1195574881 27-Feb-2025 1250 FIXED 2.63 94.59 95.21 3.22 -/Baa3/A- FRANCE Subordinated

STATOIL ASA XS1190624111 17-Feb-2023 1000 FIXED 0.88 96.70 97.20 1.28 AA-/Aa2/- NORWAY Sr Unsecured

TOTAL CAPITAL INTL SA XS1139315581 19-Mar-2025 850 FIXED 1.38 96.48 97.08 1.71 AA-/Aa1/- FRANCE Sr Unsecured

VOLKSWAGEN INTL FIN NV XS1167644407 16-Jan-2023 1000 FIXED 0.88 88.21 88.94 2.56 A /*-/A2/- GERMANY Sr Unsecured

=> All Conditions are Indicative and subject ot market changes and liquidity constrains

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