mashreq...iranian protesters attacked the saudi embassy in tehran and set parts of the building on...

mashreq Fixed Income Trading

Daily Market Update Sunday, January 03, 2015

Market Update

Jobless claims rise sharply during holiday week

The number of Americans filing new claims for unemployment benefits rose sharply last week, a potential signal the job market was losing steam although some of the increase might be attributed to temporary holiday factors. Initial claims for state unemployment benefits rose 20,000 to a seasonally adjusted

287,000 for the week ended Dec.26, the U.S. Labor Department said on Thursday. That was the highest since July, although in recent months the weekly

readings for claims have held near a 42-year low. Economists polled by Reuters had forecast claims rising to 270,000 in the latest week. Futures for U.S.

stock prices were largely unchanged following the report. Last week's data may have been distorted by the holiday period, although the Labor Department

said there were no special factors influencing the numbers. The four-week moving average, which analysts follow closely because it smoothes out volatility,

rose 4,500 to 277,000. Still, claims have been below 300,000, a threshold associated with a buoyant labor market, for 43 consecutive weeks, the longest

stretch since the early 1970s. (Reuters)

Emaar shares drop after hotel blaze Emaar Properties PJSC slid the most in more than two weeks, leading a decline in Dubai stocks, on concern a fire that ripped through its hotel on New

Year’s Eve will curb earnings. Emaar dropped as much as 4.4%, before paring its slide to 3.5% at 10:31 a.m. local time. The Address Downtown Dubai

hotel will be closed indefinitely after suffering extensive damage. In a statement to the Dubai Financial Market this morning, Ayman Hamdy, Emaar’s

general counsel, confirmed that the building was covered by insurance. “The fire has been contained and the cause is being investigated by the company

and the relevant authorities. “The building and risk of fire are covered by insurance so there should be no material impact on the company as a result of

this incident.” (Bloomberg / The National)

UAE government deposits hit 5-month high in November The government deposits rose to five months high in November by registering 8.57% month-on-month growth, said the UAE Central Bank. However, the

deposits fell 18.8% if compared to September 2014 when it rose to AED208.142 billion.

The UAE's government deposits surged 1.2% to AED492.384 billion in November from AED486.552 billion in October 2015. Total deposit growth has

slowed markedly in the last 12-months with a growth rate of 2%, according to the central bank data. The private sector deposits grew by a healthy 5.4% in

year-to-date period while government sector experienced a negative growth of 6.3%, the data showed. In the third quarter of 2015, fiscal revenues fell 31% when compared to the same quarter of 2014. However, other revenues [representing a third of the total revenues] increased by 17%. "As a result of

the drop in oil prices, the fiscal balances as well as the external current account balance have deteriorated in the last 12 months," the central bank's

monthly outlook said. The foreign currency deposits fell 3.95% to AED233.251 billion, according to the data. "Foreign currency reserves growth is also

flattening but still covers five-month of imports. This situation is aggravated by an appreciating dirham due to the peg to the US dollar, which could put a

strain on non-energy export of the country," the outlook said. The real economic growth for 2015 and 2016 reached at 4.5%, which last achieved in 2014.

Both have been downgraded since the fall in oil prices in autumn of 2014, against a consensus of 3% and 3.1% IMF forecast for 2016. Moreover, total

assets of the banking industry grew to AED2.446 trillion in November compared to AED2.42 trillion in October this year. (Bloomberg)

Dubai's nine-month non-oil foreign trade falls slightly to USD263 billion Dubai’s non-oil foreign trade fell marginally to AED966 billion (USD262.9 billion) during the first nine months of 2015 from AED988 billion during the same

period in 2014, according to official data. A statement said Dubai had managed to contain the impact of the instability of the global economic environment,

marked by a decline in commodity prices and currency rates, to maintain a strong economic performance in 2015. It said imports had the biggest share of

the overall trade with a value of AED597 billion while exports and re-exports totalled AED100 billion and AED269 billion respectively. From January to

September 2015, direct trade contributed AED603 billion of Dubai’s total foreign trade value; while free zones contributed AED340 billion and customs

warehouses AED23 billion, added the statement, cited by news agency WAM. Sultan Ahmed bin Sulayem, chairman of Ports, Customs and Free Zone

Corporation (PCFC), and chairman of DP World, said: "Dubai has been exemplary in surmounting the impact of the trade and economic hardships the world

is currently facing. The foreign trade sector has enhanced Dubai’s capacity to build sustainable economic growth. Alongside other economic sectors,

particularly tourism, it has positioned Dubai as a leading global and regional trading and business hotspot, in spite of the general slowdown in the world economy," he said. According to the figures, Dubai has seen a "substantial upsurge" in the total volume of goods imported, exported or re-exported via the

emirate. The quantity of commodities traded rose 5% from 60.6 million tons in the first nine months of 2014 to 63.7 million tons in the same period in

2015 - a growth of 3.1 million tons. The impact of declining gold prices was contained by an increase in its traded volume to 1.028 million kilograms in the

first nine months of 2015, compared to around 977,000 kilograms in the same period of 2014. Gold also had the second biggest share in the total value of

Dubai foreign trade during January-September 2015 with a value worth AED92.54 billion. Phones and telecommunications equipment came first with a

6.3% growth and AED137.6 billion market share. China was once again Dubai’s top trading partner worldwide, with a total bilateral trade value of AED132

billion in the first nine months of 2015, which represents a growth of 5.1% compared to the same period of 2014. India was the second biggest trading

partner at AED74 billion, while the US came third with AED60 billion worth of trade. (Bloomberg)

Dubai's utility DEWA approves USD6.4 billion budget for 2016 The Dubai Electricity and Water Authority (DEWA) has approved a total budget of AED23.655 billion (USD6.44 billion) for 2016, an increase of 3.4% on the

AED22.873 billion budget agreed last year. Dubai's state utility said in a statement cited by news agency WAM that the new budget will ensure a "reliable

supply of electricity and water to meet Dubai’s development plans in all its operations". A total of AED8.72 billion will be allocated to capital expenditure

and projects, compared with AED8.028 billion in 2015. The 2016 budget includes a number of key projects, including AED2.957 billion in generation,

AED3.416 billion in power transmission, AED1.209 billion in power distribution, and AED1.042 billion in water and civil. In addition, DEWA has also

launched strategic projects worth over AED27 billion that use the Independent Power Producer (IPP) model to leverage public private partnerships. Other

projects include building nine new 132kV substations at a cost of AED775 million while AED1.544 billion has been allocated to the extension of 256km of

132kV cables. A further AED245 million has been budgeted to build two water reservoirs at Al Nakhly, and AED50 million to build a water pumping station

on the Dubai-Al Ain road. (Arabian Business)

Abu Dhabi raises water use tariff by 6.6% for non-nationals Abu Dhabi Distribution Co. raised the cost for water use by customers who are not citizens of United Arab Emirates by 6.6% starting from Jan. 1, according

to a tariff list on the utility’s website. Residents of the Persian Gulf emirate who aren’t citizens will pay AED 10.55 (USD 2.87) for each cubic meter of water

used beyond the level of 5 cubic meters a day, according to the tariff list. The price for water use at that level last year was AED 9.9 per cubic meter. The

cost for use of water up to 5 cubic meters a day remains unchanged at AED 5.95 cubic meter for non-UAE nationals. Prices for water and power use by

nationals remain unchanged. Middle Eastern oil exporting states are trimming government spending and subsidies for fuel, power and water use as the

35% drop in oil prices last year cut state income. The U.A.E., holder of the world’s sixth-largest oil reserves, eliminated subsidies on gasoline and diesel

prices last year. (Bloomberg)



Tadawul aiming to sell shares in 2018

The Saudi Stock Exchange (Tadawul) has said that it is planning to launch its own initial share sale in 2018. The initial public offering will be launched after

the readiness exercise is completed and necessary approvals are obtained. The Kingdom’s stock market, by far the largest in the Gulf Arab region with a

market capitalization of SAR1.57 trillion, had said in 2014 that it was looking to go public, without giving a timeframe for the flotation. (Reuters)

Iranians attack Saudi embassy to protest Shiite cleric execution Iranian protesters attacked the Saudi embassy in Tehran and set parts of the building on fire after the kingdom executed a prominent Shiite cleric.

Protesters started gathering in front of the embassy late on Saturday, throwing stones and Molotov cocktails to protest the execution of Nimr al-Nimr, a

cleric who criticized the Sunni-ruled kingdom’s treatment of the Shiite minority. A small group managed to storm the premises and several have been

arrested, Tehran police chief, Hossein Sajedinia told the state-run Islamic Students’ News Agency. The cleric was one of 47 executed across Saudi Arabia

on Saturday for terrorism-related offenses. The men were convicted of crimes including bombings that targeted the traffic department and interior ministry in Riyadh, plots to attack military airports, and other strikes on security forces. (Bloomberg)

Iran says post-sanctions crude output boost won't hurt price

Iran’s proposed increase in oil production would enter the market gradually after sanctions end and won’t pressure prices, the Iranian Oil Ministry’s Shana

news agency said on Saturday. Iran has the potential to boost its oil production by 500,000 barrels a day within a week of sanctions being lifted, and by 1

million barrels shortly after, Shana said, citing Seyyid Mohsen Ghamsari, the head of international affairs at National Iranian Oil Co. How much of it enters

the market will depend on market conditions, Ghamsari said. Iran “will try to enter the market in a way to make sure the boosted production will not cause

a further drop in prices," Ghamsari said. “Production potential does not mean we will be entering the boosted production into the market or stockpile it. We

will be producing as much as the market can absorb." (Bloomberg)

Financial Affairs Minister: Oman to cut budget deficit 27% in 2016

Financial Affairs Minister Darwish al-Balushi has said that Oman’s government is planning to cut its budget deficit to OMR3.3 billion in 2016 from an actual

OMR4.5 billion in 2015, partly through big spending cuts. He estimated state spending in 2016 at OMR11.9 billion and revenues at OMR8.6 billion. Al-

Balushi did not specify how the 2016 deficit would be financed, but said the ministry would issue a detailed statement on the budget at a later date. Oman

has been stepping up local-currency bond issues and has been seeking a USD1 billion syndicated loan. The government had originally projected a deficit of

OMR2.5 billion for 2015, assuming an average oil price of USD75 per barrel, but Brent crude is now below USD40. (Reuters)

China factory activity shrinks in December, more stimulus needed in 2016 China looked set for a soggy start to 2016 after activity in the manufacturing sector contracted for a fifth straight month in December 2015, suggesting the

government may have to step up policy support to avert a sharper slowdown. While China’s services sector ended 2015 on a strong note, the economy still

looked set to grow at its slowest pace in a quarter of a century despite a raft of policy easing steps, including repeated interest rate cuts, in the past year

or so. The world’s second-largest economy faces persistent risks as leaders have pledged to push so-called “supply-side reform” to reduce excess factory

capacity and high debt levels. The official manufacturing Purchasing Managers’ Index (PMI) stood at 49.7 in December 2015, in line with expectations of

economists polled by Reuters and up only fractionally from November. However, economists seemed to find some comfort that there were no signs of a

sharper deterioration, which has been feared by global investors. (Reuters)

Finance Minister: Russia eyes 1 trillion rubles from privatization in 2016 Finance Minister Anton Siluanov has said that Russia aims to raise 1 trillion rubles from privatization in 2016, signaling a major acceleration of plans to sell

state assets. These plans, ambitious on paper, have largely ground to a halt over the last three years on the back of poor stock market conditions,

exacerbated by a plunge in oil prices and Western sanctions linked to the Ukraine conflict. However, the same negative economic developments also mean

that the government is increasingly strapped for cash, giving it an incentive to speed up privatization as an alternative to raising taxes, cutting spending or

exhausting fiscal reserves. (Reuters)

Iraq says it exported more than 1 billion barrels of oil in 2015

Iraq said it exported 1.097 billion barrels of oil in 2015, generating USD49.079 billion from sales, according to the oil ministry. It sold 99.7 million barrels

of oil in December, generating USD 2.973 billion, after selling a record 100.9 million barrels in November, said oil ministry spokesman Asim Jihad. The

country sold at an average price of USD 44.74 a barrel in 2015, Jihad said. Iraq, with the world’s fifth-biggest oil reserves, needs to keep increasing crude

output because lower oil prices have curbed government revenue. Oil prices have slumped in the past year as the Organization of Petroleum Exporting

Countries defended market share against production in the U.S. OPEC’s second-largest crude producer is facing a slowdown in investment due to lower oil

prices while fighting a costly war on Islamist militants who seized a swath of the country’s northwest. (Bloomberg)

Fed awards record USD474.59 billion in one-day reverse repos The New York Fed has said that the Federal Reserve awarded a record USD474.59 billion of one-day fixed-rate reverse repurchase (repo) agreements to

109 bidders at an interest rate of 0.25% on December 31, 2015. The reverse repurchase agreement program is seen as a critical policy tool for the Fed to

drain money from the financial system in an effort to achieve its interest rate objectives. In the transactions, banks and other qualified financial institutions

park cash with the Fed overnight, receiving Treasury securities as collateral and 0.25% in interest. Thursday's auction, the last one of 2015 as compared to

USD277.45 billion taken in by the Fed from 82 bidders on Wednesday. It exceeds the previous record amount of USD339.48 billion on June 30, 2014. Demand for the deals typically rises at the end of each quarter as financial institutions shore up their balance sheets and use the Fed as counterparty to

lower their regulatory risk profiles. (Reuters)

Stournaras warns on measures as Tsipras defiant on pensions

Bank of Greece governor Yannis Stournaras gave a stark warning about the risk of Greece failing to reach an agreement with its creditors on a set of measures attached to the country’s bailout as Prime Minister Alexis Tsipras reiterated his government won’t succumb to “unreasonable” demands for

additional pension cuts. The European Union is now much less prepared to deal with another Greek crisis, Stournaras wrote in an article published in

Kathimerini newspaper, in an unusually strong public intervention, as Europe’s most indebted state braces for negotiations with creditor institutions on a

set of tough economic steps, including pension and income tax reform. A repeat of the 2015 standoff which pushed Greece to the verge of leaving the euro

area would entail risks that the country’s economy may not be able to withstand, the central banker said. (Bloomberg)

Russian oil output hits post-Soviet record amid lower price

Russia’s crude output set another post-Soviet record in December, according to Energy Ministry data, as the nation’s producers seek to withstand the

slump in oil prices. The country’s crude and gas condensate production increased to 10.825 million barrels a day last month, beating the previous record

set in November by 0.4%, Bloomberg calculations based on the data show. Output for the year increased 1.4% compared with 2014, exceeding 534 million

metric tons, or almost 10.726 million barrels a day, according to the preliminary information e-mailed from Energy Ministry’s CDU-TEK unit. Russian crude

producers have been setting post-Soviet records even amid plunging prices and U.S. and European Union sanctions that cut access to foreign financing and

technology. The companies have managed to squeeze more crude out of some aging fields in West Siberia and brought a few mid-sized new projects on

line. Russia’s crude export rose to 5.25 million barrels a day in 2015, according to the data, with supplies to countries outside the former Soviet Union



jumping 11% to more than 4.42 million barrels. The Russian government, which relies on oil for about 40% of its budget revenue, doesn’t expect a drop in

production this year. Investments made two to three years ago have been supporting output in 2015 and will do so in 2016, Energy Minister Alexander Novak said Dec. 22. Still, production may decline next year if Russia has to increase the tax burden on the industry to narrow the budget gap given the

plunging oil price, he said. Natural gas output in Russia is declining as the main producer, the state-controlled Gazprom PJSC, faces stronger competition

from its domestic rivals and lower sales in former Soviet republics. The nation’s total production decreased 1% to 635 billion cubic meters, the lowest level

since 2009, according to the data. The ministry hasn’t been disclosing Gazprom data since the start of last year, although the company predicted its 2015

output would fall to the record low of about 420 billion cubic meters. (Bloomberg)

Indonesian GDP growth misses target in 2015, Ministry reports Indonesia missed its target for economic growth in 2015 because of a global slowdown, according to the Finance Ministry, which reported initial estimates

for a larger-than-expected budget deficit and an undershoot on inflation for the year. The economy expanded 4.73% from a year earlier, missing the 5.7%

target set in the state budget, the ministry said in statement on Sunday. Inflation was 3.1% last year, lower than the 5% goal, the ministry said. President

Joko Widodo is seeking to spur growth in Southeast Asia’s largest economy by cutting red tape and increasing infrastructure spending at a time when tax

and commodity-export revenues are falling short of projections. The government has introduced seven stimulus packages since September to increase

spending and boost investment to support the expansion. The budget deficit may have totaled 2.8% of gross domestic product in 2015, above the 1.9%

target, the ministry said. The government spent 1,810 trillion rupiah (USD130.9 billion) from the state budget last year, while revenue was 1,491.5 trillion

rupiah, it said. Tax revenue was 1,235.8 trillion rupiah last year, or 83% of the amount the government was aiming for, as a weakening economy cut

income from the mining and processing sectors, the ministry said. The rupiah averaged 13,392 against the dollar in 2015, while the country’s crude fetched

about USD 50 per barrel, below the USD 60 target, the ministry said. Crude-oil sales seen were 779,000 barrels a day, below the objective of 825,000

barrels a day, the statement said. (Bloomberg)

Fixed Income Trading

January 3, 2016 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 Min. Size

Risk

Rating

ABBVIE INC US00287YAL39 6-Nov-2022 3071 FIXED 2.90 96.87 97.18 3.36 A/Baa1/- UNITED STATES Sr Unsecured 2,000 P2

ABBVIE INC US00287YAQ26 14-May-2025 3750 FIXED 3.60 98.51 99.29 3.69 A/Baa1/- UNITED STATES Sr Unsecured 2,000 P2

ADOBE SYSTEMS INC US00724FAC59 1-Feb-2025 1000 FIXED 3.25 97.54 99.62 3.30 A-/Baa1/- UNITED STATES Sr Unsecured 2,000 P2

AIRBUS GROUP FINANCE BV USN2823BBD21 17-Apr-2023 1000 FIXED 2.70 96.14 97.03 3.16 A/A2/A- FRANCE Sr Unsecured 1,000 P2

ALCOA INC US013817AV33 15-Apr-2021 1250 FIXED 5.40 100.44 100.44 5.30 BBB-/Ba1/BB+ /*+ UNITED STATES Sr Unsecured 2,000 P2

AMAZON.COM INC US023135AJ58 29-Nov-2022 1250 FIXED 2.50 96.75 97.40 2.92 AA-/Baa1/- UNITED STATES Sr Unsecured 2,000 P2

AMERICAN EXPRESS CO US025816BD05 2-Dec-2022 1266 FIXED 2.65 96.82 97.31 3.09 BBB+/A3/A+ UNITED STATES Sr Unsecured 2,000 P2

AMERICAN INTL GROUP US026874DD67 10-Jul-2025 1250 FIXED 3.75 98.93 99.83 3.77 A-/Baa1/BBB+ UNITED STATES Sr Unsecured 2,000 P2

AT&T INC US00206RCM25 30-Jun-2022 2750 FIXED 3.00 97.37 97.78 3.38 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000 P2

AT&T INC US00206RCN08 15-May-2025 5000 FIXED 3.40 95.69 96.58 3.84 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000 P2

BANK OF AMERICA CORP US06051GEU94 11-Jan-2023 4250 FIXED 3.30 99.75 99.75 3.34 BBB+/Baa1/A UNITED STATES Sr Unsecured 2,000 P2

BANK OF AMERICA CORP US06051GFP90 21-Apr-2025 2500 FIXED 3.95 100.23 100.23 3.92 BBB/Baa3/A- UNITED STATES Subordinated 2,000 P3

BARCLAYS PLC US06738EAE59 16-Mar-2025 2000 FIXED 3.65 95.92 96.54 4.11 BBB/Baa3/A UNITED KINGDOM Sr Unsecured 200,000 P2

BARRICK GOLD CORP US067901AQ17 1-May-2023 730 FIXED 4.10 84.63 86.45 6.45 BBB-/Baa3/- CANADA Sr Unsecured 2,000 P4

BHP BILLITON FIN USA LTD US055451AQ16 24-Feb-2022 1000 FIXED 2.88 91.76 92.51 4.28 A+/A1 /*-/A+ AUSTRALIA Sr Unsecured 2,000 P2

BHP BILLITON FIN USA LTD US055451AU28 30-Sep-2023 1500 FIXED 3.85 94.39 95.27 4.58 A+/A1 /*-/A+ AUSTRALIA Sr Unsecured 2,000 P2

BOSTON PROPERTIES LP US10112RAV69 1-Sep-2023 500 FIXED 3.13 98.09 98.09 3.41 A-/Baa2/BBB+ UNITED STATES Sr Unsecured 1,000 P2

BP CAPITAL MARKETS PLC US05565QCD88 10-May-2023 1500 FIXED 2.75 93.73 94.72 3.57 A/A2/- UNITED KINGDOM Sr Unsecured 1,000 P2

BP CAPITAL MARKETS PLC US05565QDA31 17-Mar-2025 1000 FIXED 3.51 97.06 98.30 3.72 A/A2/A UNITED KINGDOM Sr Unsecured 1,000 P2

BPCE SA US05578UAD63 15-Mar-2025 1250 FIXED 4.50 95.98 96.80 4.94 -/Baa3/A- FRANCE Subordinated 200,000 P3

CITIGROUP INC US172967GT25 15-May-2023 1250 FIXED 3.50 97.86 98.75 3.70 BBB/Baa3/A- UNITED STATES Subordinated 1,000 P3

CITIGROUP INC US172967JL61 26-Mar-2025 1000 FIXED 3.88 97.02 97.70 4.18 BBB/Baa3/A- UNITED STATES Subordinated 1,000 P3

CONOCOPHILLIPS COMPANY US20826FAA49 15-Dec-2022 1000 FIXED 2.40 90.99 93.74 3.42 A/A2 /*-/A UNITED STATES Sr Unsecured 2,000 P2

CONOCOPHILLIPS COMPANY US20826FAD87 15-Nov-2024 1000 FIXED 3.35 92.24 95.22 4.00 A/A2 /*-/A UNITED STATES Sr Unsecured 2,000 P2

CRED SUIS GP FUN LTD USG25417AA79 26-Mar-2025 2500 FIXED 3.75 96.66 97.33 4.10 BBB+/Baa2 /*-/A SWITZERLAND Sr Unsecured 250,000 P2

CREDIT AGRICOLE SA USF2R125AC99 17-Mar-2025 1500 FIXED 4.38 96.84 97.63 4.69 BBB/Baa3/A- FRANCE Subordinated 200,000 P3

DAIMLER FINANCE NA LLC USU2339CBX57 19-May-2025 650 FIXED 3.30 97.15 97.94 3.56 A-/A3/A- GERMANY Sr Unsecured 150,000 P2

DEUTSCHE BANK AG LONDON US25152RXA66 30-May-2024 1600 FIXED 3.70 99.54 100.33 3.65 BBB+/A3/A- GERMANY Sr Unsecured 1,000 P2

DOW CHEMICAL CO/THE US260543CJ01 1-Oct-2024 900 FIXED 3.50 97.50 97.50 3.84 BBB /*/Baa2/BBB /*+ UNITED STATES Sr Unsecured 2,000 P2

ELECTRICITE DE FRANCE SA USF2893TAS53 13-Oct-2025 1250 FIXED 3.63 97.82 98.53 3.81 A+/A1/A FRANCE Sr Unsecured 2,000 P2

FORD MOTOR CREDIT CO LLC US345397XA68 9-Jan-2022 750 FIXED 3.22 97.56 98.24 3.55 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000 P2

FORD MOTOR CREDIT CO LLC US345397WW97 8-Sep-2024 750 FIXED 3.66 96.98 98.13 3.92 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000 P2

GENERAL MOTORS FINL CO US37045XAW65 10-Apr-2022 1250 FIXED 3.45 98.21 98.21 3.77 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000 P2

GENERAL MOTORS FINL CO US37045XAS53 15-Jan-2025 1000 FIXED 4.00 95.30 95.30 4.64 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000 P2

GLENCORE FINANCE CANADA USC98874AM93 25-Oct-2022 1000 FIXED 4.25 75.88 77.00 8.82 BBB/Baa3/- SWITZERLAND Sr Unsecured 2,000 P4

GLENCORE FUNDING LLC XS0938722666 30-May-2023 1500 FIXED 4.13 72.48 74.96 8.80 BBB/Baa3/- SWITZERLAND Sr Unsecured 2,000 P4

GLENCORE FUNDING LLC XS1028955844 29-Apr-2024 1000 FIXED 4.63 71.60 74.32 9.09 BBB/Baa3/- SWITZERLAND Sr Unsecured 2,000 P4

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


January 3, 2016 USD INVESTMENT GRADE ISSUES (LONG TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

GOLDCORP INC US380956AD47 15-Mar-2023 1000 FIXED 3.70 90.66 91.65 5.10 BBB+/Baa2/BBB CANADA Sr Unsecured 2,000 P2

GOLDMAN SACHS GROUP INC US38148LAC00 23-Jan-2025 2500 FIXED 3.50 98.33 99.20 3.60 BBB+/A3/A UNITED STATES Sr Unsecured 2,000 P2

JPMORGAN CHASE & CO US46625HJY71 10-Sep-2024 3000 FIXED 3.88 99.41 100.29 3.84 BBB+/Baa1/A UNITED STATES Subordinated 2,000 P3

JPMORGAN CHASE & CO US46625HKC33 23-Jan-2025 2500 FIXED 3.13 97.01 97.78 3.41 A-/A3/A+ UNITED STATES Sr Unsecured 2,000 P2

KINDER MORGAN INC/DELAWA US49456BAF85 1-Jun-2025 1500 FIXED 4.30 89.80 89.80 5.72 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 1,000 P4

LLOYDS BANK PLC US53944VAH24 14-May-2025 1250 FIXED 3.50 99.77 100.60 3.42 A/A1/A+ UNITED KINGDOM Sr Unsecured 200,000 P2

LOCKHEED MARTIN CORP US539830BE89 1-Mar-2025 750 FIXED 2.90 96.25 96.25 3.38 BBB+/Baa1/BBB+ UNITED STATES Sr Unsecured 2,000 P2

MARATHON OIL CORP US565849AK29 1-Nov-2022 1000 FIXED 2.80 81.77 81.77 6.11 BBB/Baa1 /*-/BBB+ UNITED STATES Sr Unsecured 1,000 P2

MARATHON OIL CORP US565849AL02 1-Jun-2025 900 FIXED 3.85 80.23 80.23 6.72 BBB/Baa1 /*-/BBB+ UNITED STATES Sr Unsecured 1,000 P2

MARATHON PETROLEUM CORP US56585AAG76 15-Sep-2024 750 FIXED 3.63 93.63 95.26 4.28 BBB/Baa2/BBB UNITED STATES Sr Unsecured 2,000 P3

MCDONALD'S CORP US58013MEU45 26-May-2025 700 FIXED 3.38 99.79 99.79 3.40 BBB+/Baa1/BBB+ UNITED STATES Sr Unsecured 1,000 P2

MERCK & CO INC US58933YAR62 10-Feb-2025 2500 FIXED 2.75 97.12 97.90 3.02 AA/A1/A UNITED STATES Sr Unsecured 2,000 P2

MONSANTO CO US61166WAU53 15-Jul-2024 750 FIXED 3.38 95.33 96.95 3.80 BBB+/A3/A- UNITED STATES Sr Unsecured 2,000 P2

MOTOROLA SOLUTIONS INC US620076BB42 15-May-2022 750 FIXED 3.75 91.81 92.26 5.19 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000 P2

MYLAN INC USU62472AF96 15-Jan-2023 750 FIXED 3.13 91.70 92.18 4.43 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 1,000 P2

OCCIDENTAL PETROLEUM COR US674599CG82 15-Jun-2025 750 FIXED 3.50 97.65 98.55 3.68 A/A2 /*-/A UNITED STATES Sr Unsecured 2,000 P2

OCEANEERING INTL INC US675232AA07 15-Nov-2024 500 FIXED 4.65 84.44 84.44 7.04 BBB/Baa2/- UNITED STATES Sr Unsecured 2,000 P4

QUALCOMM INC US747525AF05 20-May-2025 2000 FIXED 3.45 95.76 96.79 3.86 A+/A1/- UNITED STATES Sr Unsecured 2,000 P2

RABOBANK NEDERLAND NY US21688AAE29 21-May-2025 1000 FIXED 3.38 99.79 99.79 3.40 A+/Aa2/AA- NETHERLANDS Sr Unsecured 250,000 P2

RIO TINTO FIN USA LTD US767201AS58 15-Jun-2025 1200 FIXED 3.75 90.69 91.63 4.87 A-/A3/A- UNITED KINGDOM Sr Unsecured 2,000 P2

RIO TINTO FIN USA PLC US76720AAF30 21-Aug-2022 1000 FIXED 2.88 90.64 91.02 4.46 A-/A3/A- UNITED KINGDOM Sr Unsecured 2,000 P2

ROLLS-ROYCE PLC USG76237AB53 14-Oct-2025 1000 FIXED 3.63 98.05 98.58 3.80 A/A3/A UNITED KINGDOM Sr Unsecured 200,000 P2

SHELL INTERNATIONAL FIN US822582BD31 11-May-2025 2750 FIXED 3.25 97.25 98.32 3.46 AA-/Aa1/AA /*- NETHERLANDS Sr Unsecured 1,000 P2

SIEMENS FINANCIERINGSMAT USN82008AE85 27-May-2025 1500 FIXED 3.25 99.97 100.75 3.16 A+/A1/A GERMANY Sr Unsecured 250,000 P2

SOCIETE GENERALE USF8586CH211 14-Apr-2025 1500 FIXED 4.25 94.76 95.53 4.85 BBB/Baa3/A- FRANCE Subordinated 200,000 P3

STANDARD CHARTERED PLC XS1219971774 17-Apr-2025 750 FIXED 3.20 93.38 94.23 3.95 A-/Aa3 /*-/A+ UNITED KINGDOM Sr Unsecured 200,000 P2

STATOIL ASA US85771PAG72 17-Jan-2023 1100 FIXED 2.45 94.78 95.47 3.17 AA-/Aa2/- NORWAY Sr Unsecured 1,000 P2

TIME WARNER INC US887317AW59 15-Jul-2025 1500 FIXED 3.60 97.62 98.35 3.81 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured 2,000 P2

TOTAL CAPITAL CANADA LTD US89153UAF84 15-Jul-2023 1000 FIXED 2.75 95.83 96.72 3.25 AA-/Aa1/AA- FRANCE Sr Unsecured 2,000 P2

VALERO ENERGY CORP US91913YAS90 15-Mar-2025 600 FIXED 3.65 94.27 96.46 4.12 BBB/Baa2/BBB UNITED STATES Sr Unsecured 2,000 P2

VERIZON COMMUNICATIONS US92343VCR33 1-Nov-2024 2500 FIXED 3.50 98.46 99.11 3.62 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000 P2

VIACOM INC US92553PAT93 1-Sep-2023 1250 FIXED 4.25 96.98 97.71 4.61 BBB-/Baa2/BBB+ UNITED STATES Sr Unsecured 2,000 P2

VODAFONE GROUP PLC US92857WAZ32 26-Sep-2022 1000 FIXED 2.50 93.58 94.19 3.48 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured 1,000 P2

VODAFONE GROUP PLC US92857WBC38 19-Feb-2023 1600 FIXED 2.95 94.38 95.27 3.71 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured 1,000 P2

WALGREENS BOOTS ALLIANCE US931427AF53 18-Nov-2021 1250 FIXED 3.30 98.02 98.71 3.54 BBB/Baa2 /*-/- UNITED STATES Sr Unsecured 2,000 P2

WELLS FARGO & COMPANY US94974BGH78 19-Feb-2025 2500 FIXED 3.00 96.75 97.60 3.31 A/A2/AA- UNITED STATES Sr Unsecured 1,000 P2



January 3, 2016 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

ABBEY NATL TREASURY SERV US002799AT16 16-Mar-2020 1000 FIXED 2.38 99.56 100.07 2.36 A/A1/A UNITED KINGDOM Sr Unsecured 1,000 P1

ABBVIE INC US00287YAT64 14-May-2020 3750 FIXED 2.50 98.70 99.26 2.68 A/Baa1/- UNITED STATES Sr Unsecured 2,000 P1

ABN AMRO BANK NV XS1241945473 4-Jun-2020 1000 FIXED 2.45 99.22 99.64 2.54 A/A2/A NETHERLANDS Sr Unsecured 200,000 P1

AMERICAN EXPRESS CREDIT US0258M0DT32 26-May-2020 1750 FIXED 2.38 99.40 99.40 2.52 A-/A2/A+ UNITED STATES Sr Unsecured 2,000 P1

ANGLO AMERICAN CAPITAL USG0446NAH73 14-May-2020 850 FIXED 3.63 70.85 71.90 12.11 BBB- /*-/Baa3 /*-/- UNITED KINGDOM Sr Unsecured 200,000 P3

APPLE INC US037833BD17 6-May-2020 1250 FIXED 2.00 99.66 100.05 1.99 AA+/Aa1/- UNITED STATES Sr Unsecured 2,000 P1

ASTRAZENECA PLC US046353AF58 18-Sep-2019 1000 FIXED 1.95 99.35 99.52 2.08 A-/A3/A UNITED KINGDOM Sr Unsecured 2,000 P1

AT&T INC US00206RCL42 30-Jun-2020 3000 FIXED 2.45 98.43 98.95 2.70 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000 P1

BANK OF AMERICA CORP US06051GFN43 21-Apr-2020 2000 FIXED 2.25 97.66 97.66 2.83 BBB+/Baa1/A UNITED STATES Sr Unsecured 2,000 P1

BANK OF AMERICA NA US06050TMC35 5-Jun-2018 1750 FIXED 1.75 100.23 100.23 1.65 A /*+/A1/A+ UNITED STATES Sr Unsecured 250,000 P1

BANK OF NY MELLON CORP US06406HCZ01 24-Feb-2020 1250 FIXED 2.15 99.23 99.23 2.35 A/A1/AA- UNITED STATES Sr Unsecured 1,000 P1

BARCLAYS PLC US06738EAG08 8-Jun-2020 1000 FIXED 2.88 99.75 100.17 2.83 BBB/Baa3/A UNITED KINGDOM Sr Unsecured 200,000 P1

BNP PARIBAS US05579TED46 21-May-2020 1500 FIXED 2.38 99.48 99.48 2.50 A+ /*-/A1/A+ FRANCE Sr Unsecured 200,000 P1

BP CAPITAL MARKETS PLC US05565QCX43 13-Feb-2020 1250 FIXED 2.32 98.68 99.02 2.57 A/A2/A UNITED KINGDOM Sr Unsecured 1,000 P1

BPCE SA US05578DAR35 27-Jan-2020 750 FIXED 2.25 99.51 99.51 2.38 A/A2/A FRANCE Sr Unsecured 250,000 P1

CATERPILLAR FINANCIAL SE US14912L6J50 5-Mar-2020 500 FIXED 2.00 99.69 99.69 2.08 A/A2/A UNITED STATES Sr Unsecured 1,000 P1

CHEVRON CORP US166764AR12 3-Mar-2020 1750 FIXED 1.96 98.65 99.02 2.21 AA/Aa1/- UNITED STATES Sr Unsecured 2,000 P1

CITIGROUP INC US172967JN28 27-Apr-2018 2500 FIXED 1.70 99.00 99.25 2.03 BBB+/Baa1/A UNITED STATES Sr Unsecured 1,000 P1

CONOCOPHILLIPS COMPANY US20826FAJ57 15-May-2020 500 FIXED 2.20 96.40 97.48 2.82 A/A2 /*-/A UNITED STATES Sr Unsecured 2,000 P1

CRED SUIS GP FUN LTD USG25417AB52 26-Mar-2020 1500 FIXED 2.75 99.02 99.44 2.89 BBB+/Baa2 /*-/A SWITZERLAND Sr Unsecured 250,000 P1

CREDIT SUISSE NEW YORK US22546QAV95 27-Apr-2018 2750 FIXED 1.70 99.47 99.47 1.94 A/A1 /*-/A SWITZERLAND Sr Unsecured 250,000 P1

DAIMLER FINANCE NA LLC USU2339CCA46 3-Aug-2018 1000 FIXED 2.00 99.18 99.40 2.24 A-/A3/A- GERMANY Sr Unsecured 150,000 P1

DAIMLER FINANCE NA LLC USU2339CAZ15 31-Jul-2019 750 FIXED 2.25 98.72 99.10 2.52 A-/A3/A- GERMANY Sr Unsecured 150,000 P1

DAIMLER FINANCE NA LLC USU2339CBW74 18-May-2020 1300 FIXED 2.45 98.07 98.55 2.80 A-/A3/A- GERMANY Sr Unsecured 150,000 P1

DEUTSCHE BANK AG LONDON US25152RYD96 13-Feb-2018 2000 FIXED 1.88 99.14 99.45 2.14 BBB+/A3/A- GERMANY Sr Unsecured 1,000 P1

EXXON MOBIL CORPORATION US30231GAG73 6-Mar-2020 1500 FIXED 1.91 99.27 99.90 1.94 AAA/Aaa/- UNITED STATES Sr Unsecured 2,000 P1

FORD MOTOR CREDIT CO LLC US345397XH12 15-Jun-2018 1000 FIXED 2.24 98.90 99.15 2.60 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000 P1

FORD MOTOR CREDIT CO LLC US345397WY53 4-Nov-2019 1250 FIXED 2.60 98.11 98.40 3.04 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000 P1

FREEPORT-MCMORAN INC US35671DBD66 15-Mar-2018 1500 FIXED 2.38 79.76 80.35 12.96 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000 P3

FREEPORT-MCMORAN INC US35671DBG97 15-Mar-2020 998 FIXED 3.10 64.27 65.30 14.41 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000 P3

GENERAL MOTORS FINL CO US37045XAV82 10-Apr-2018 850 FIXED 2.40 99.46 99.46 2.65 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000 P1

GENERAL MOTORS FINL CO US37045XAY22 13-Jul-2020 1500 FIXED 3.20 100.51 100.51 3.08 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000 P1


GLENCORE FUNDING LLC XS0938722401 15-Jan-2019 1500 FIXED 2.50 83.20 84.15 8.55 BBB/Baa3/- SWITZERLAND Sr Unsecured 2,000 P3




January 3, 2016 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

GOLDCORP INC US380956AC63 15-Mar-2018 500 FIXED 2.13 97.22 97.92 3.12 BBB+/Baa2/BBB CANADA Sr Unsecured 2,000 P1

GOLDMAN SACHS GROUP INC US38148LAA44 23-Apr-2020 1700 FIXED 2.60 99.52 100.07 2.58 BBB+/A3/A UNITED STATES Sr Unsecured 2,000 P1

HSBC USA INC US40434CAC91 23-Jun-2019 750 FIXED 2.25 99.20 99.58 2.38 A/A2/AA- UNITED STATES Sr Unsecured 100,000 P1

HSBC USA INC US40428HPR74 5-Mar-2020 1750 FIXED 2.35 98.79 99.31 2.52 A/A2/AA- UNITED STATES Sr Unsecured 100,000 P1

IBM CORP US459200HM60 15-May-2020 1250 FIXED 1.63 97.64 98.17 2.07 AA-/Aa3/A+ UNITED STATES Sr Unsecured 100,000 P1

IMPERIAL TOBACCO FINANCE USG4721VNR17 20-Jul-2018 500 FIXED 2.05 99.33 99.56 2.23 BBB/Baa3/BBB UNITED KINGDOM Sr Unsecured 200,000 P1

IMPERIAL TOBACCO FINANCE USG4721VNS99 21-Jul-2020 1250 FIXED 2.95 100.04 100.70 2.78 BBB/Baa3/BBB UNITED KINGDOM Sr Unsecured 200,000 P1

JPMORGAN CHASE & CO US48127HAA77 22-Oct-2019 2000 FIXED 2.20 99.86 99.86 2.24 A-/A3/A+ UNITED STATES Sr Unsecured 2,000 P1

JPMORGAN CHASE & CO US46625HKA76 23-Jan-2020 3750 FIXED 2.25 98.75 99.22 2.45 A-/A3/A+ UNITED STATES Sr Unsecured 2,000 P1

LLOYDS BANK PLC US53944VAE92 17-Mar-2020 1000 FIXED 2.40 99.28 99.77 2.46 A/A1/A+ UNITED KINGDOM Sr Unsecured 200,000 P1

MACQUARIE BANK LTD US55608RAM25 21-Jan-2020 750 FIXED 2.40 98.95 99.29 2.59 A/A2/A AUSTRALIA Sr Unsecured 2,000 P1

MARATHON OIL CORP US565849AN67 1-Jun-2020 600 FIXED 2.70 89.66 89.66 5.37 BBB/Baa1 /*-/BBB+ UNITED STATES Sr Unsecured 1,000 P2

MCDONALD'S CORP US58013MET71 26-May-2020 700 FIXED 2.20 99.29 99.29 2.37 BBB+/Baa1/BBB+ UNITED STATES Sr Unsecured 1,000 P1

MERCK & CO INC US58933YAS46 10-Feb-2020 1250 FIXED 1.85 99.46 100.18 1.80 AA/A1/A UNITED STATES Sr Unsecured 2,000 P1

MONSANTO CO US61166WAS08 15-Jul-2019 500 FIXED 2.13 99.36 100.22 2.06 BBB+/A3/A- UNITED STATES Sr Unsecured 2,000 P1

MUFG AMERICAS HLDGS CORP US553794AB47 10-Feb-2020 1000 FIXED 2.25 98.32 98.73 2.58 A/A3/A UNITED STATES Sr Unsecured 2,000 P1

MUFG UNION BANK NA US90520EAF88 6-May-2019 500 FIXED 2.25 99.82 99.82 2.31 A+/A2/A UNITED STATES Sr Unsecured 250,000 P1

PEPSICO INC US713448CS53 30-Apr-2020 750 FIXED 1.85 98.84 99.29 2.02 A/A1/A UNITED STATES Sr Unsecured 2,000 P1

RABOBANK NEDERLAND NY US21688AAD46 14-Jan-2020 1000 FIXED 2.25 99.84 99.84 2.29 A+/Aa2/- NETHERLANDS Sr Unsecured 250,000 P1

ROYAL BANK OF CANADA US780082AA14 5-Feb-2020 2000 FIXED 1.88 98.33 98.33 2.31 -/Aaa/AAA CANADA Secured 1,000 P1

SANTANDER BANK NA US80280JDB44 12-Jan-2018 750 FIXED 2.00 99.22 99.48 2.27 BBB+/Baa2/- UNITED STATES Sr Unsecured 250,000 P1

SANTANDER HOLDINGS USA US80282KAD81 17-Apr-2020 1000 FIXED 2.65 98.11 98.64 2.99 BBB+/Baa2/- UNITED STATES Sr Unsecured 2,000 P1

SHELL INTERNATIONAL FIN US822582BG61 11-May-2020 2000 FIXED 2.13 98.32 98.67 2.45 AA-/Aa1/AA /*- NETHERLANDS Sr Unsecured 1,000 P1

SIEMENS FINANCIERINGSMAT DE000A1G0WD5 16-Aug-2019 1500 FIXED 1.65 97.94 98.71 2.02 A+/A1/A GERMANY Sr Unsecured 250,000 P1

SIEMENS FINANCIERINGSMAT USN82008AC20 27-May-2020 1000 FIXED 2.15 99.02 99.41 2.29 A+/A1/A GERMANY Sr Unsecured 250,000 P1

STANDARD CHARTERED PLC XS1219971931 17-Apr-2020 1250 FIXED 2.25 97.72 98.22 2.69 A-/Aa3 /*-/A+ UNITED KINGDOM Sr Unsecured 200,000 P1

UBS AG STAMFORD CT US90261XHK19 26-Mar-2020 1500 FIXED 2.35 99.66 100.04 2.34 A/A2 /*+/A SWITZERLAND Sr Unsecured 250,000 P1

VODAFONE GROUP PLC US92857WBE93 19-Feb-2018 1400 FIXED 1.50 99.09 99.23 1.87 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured 1,000 P1

VOLKSWAGEN GROUP AMERICA USU9273AAM72 22-May-2020 750 FIXED 2.40 93.99 94.98 3.65 BBB+/A3/- GERMANY Sr Unsecured 200,000 P1

WELLS FARGO & COMPANY US94974BFU98 22-Apr-2019 1750 FIXED 2.13 100.00 100.16 2.07 A/A2/AA- UNITED STATES Sr Unsecured 1,000 P1

WELLS FARGO & COMPANY US94974BGF13 30-Jan-2020 2000 FIXED 2.15 99.77 99.77 2.21 A/A2/AA- UNITED STATES Sr Unsecured 1,000 P1



January 3, 2016 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

ABU DHABI NATIONAL ENERG XS0863523972 12-Jan-2018 750 FIXED 2.50 99.46 99.96 2.52 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ABU DHABI NATIONAL ENERG XS0863524277 12-Jan-2023 1250 FIXED 3.63 95.88 96.46 4.21 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ABU DHABI NATIONAL ENERG XS1017435352 6-May-2024 750 FIXED 3.88 95.96 96.63 4.36 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ADCB FINANCE CAYMAN LTD XS0897453907 6-Mar-2018 750 FIXED 2.50 99.50 100.08 2.46 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ADCB FINANCE CAYMAN LTD XS1040257062 4-Mar-2019 750 FIXED 3.00 100.00 100.58 2.81 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ADCB FINANCE CAYMAN LTD XS1110651012 16-Sep-2019 600 FIXED 2.75 99.00 99.67 2.84 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ADCB FINANCE CAYMAN LTD XS1199968998 10-Mar-2020 750 FIXED 2.63 98.06 98.79 2.93 A/-/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ADCB FINANCE CAYMAN LTD XS0897453493 6-Mar-2023 750 FIXED 4.50 99.80 100.61 4.40 A-/NR/A UNITED ARAB EMIRATES Subordinated 200,000 P3

ADCB FINANCE CAYMAN LTD XS0937539921 28-May-2023 300 VARIABLE 3.13 98.72 99.70 3.25 A-/NR/A UNITED ARAB EMIRATES Subordinated 200,000 P3

APICORP SUKUK XS1310991424 28-Oct-2020 500 FIXED 2.38 97.18 98.04 2.82 -/Aa3/- SUPRANATIONAL Sr Unsecured 200,000 P2

BANK MUSCAT SAOG XS0908549685 26-Mar-2018 500 FIXED 2.50 98.98 99.63 2.67 BBB+/A1/BBB+ OMAN Sr Unsecured 200,000 P2

BATELCO INT FIN NO 1 LTD XS0927183441 1-May-2020 519 FIXED 4.25 94.45 95.90 5.32 BB+/-/BBB- BAHRAIN Sr Unsecured 200,000 P5

BOS FUNDING LTD XS1117297272 8-Jun-2020 500 FIXED 3.37 94.83 95.53 4.50 -/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

CBD CAYMAN XS1321976950 17-Nov-2020 400 FIXED 4.00 100.26 100.81 3.82 -/Baa1/A- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

CBQ FINANCE LTD XS0771860003 11-Apr-2017 500 FIXED 3.38 101.65 102.27 1.56 A-/A1/- QATAR Sr Unsecured 200,000 P2

CBQ FINANCE LTD XS1079720212 24-Jun-2019 750 FIXED 2.88 100.00 100.58 2.70 A-/A1/- QATAR Sr Unsecured 200,000 P2

COMMERCIAL BANK OF DUBAI XS0933999863 21-May-2018 500 FIXED 3.38 100.54 101.29 2.81 -/Baa1/A- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

DEWA SUKUK 2013 LTD XS0897680558 5-Mar-2018 1000 FIXED 3.00 101.49 102.17 1.97 BBB/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

DIB SUKUK LTD XS1241110300 3-Jun-2020 750 FIXED 2.92 97.91 98.73 3.23 -/Baa1/A UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

DIFC SUKUK XS1120403313 12-Nov-2024 700 FIXED 4.33 99.47 100.15 4.30 BBB-/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

DP WORLD LTD XS1234270921 18-May-2020 500 FIXED 3.25 99.29 99.96 3.26 -/Baa3/BBB- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMG SUKUK LTD XS1075401726 18-Jun-2024 750 FIXED 4.56 100.96 101.71 4.32 BBB-/Baa2/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES AIRLINES XS0885065887 6-Feb-2025 679 FIXED 4.50 100.72 101.63 4.09 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES NBD PJSC XS0765257141 28-Mar-2017 1000 FIXED 4.63 102.17 102.67 2.41 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES NBD PJSC XS0632908314 31-May-2018 332 FLOATING 1.91 98.44 99.62 2.27 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES NBD PJSC XS1138457590 19-Nov-2019 1000 FIXED 3.25 99.92 100.50 3.11 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES NBD PJSC XS1227814883 6-May-2020 350 FIXED 3.00 99.38 99.96 3.01 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES TELECOM CORP XS1077881743 18-Jun-2019 900 FIXED 2.38 99.68 100.17 2.32 AA-/Aa3/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMIRATES TELECOM CORP XS1077883012 18-Jun-2024 500 FIXED 3.50 101.24 101.83 3.25 AA-/Aa3/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

FGB SUKUK COMPANY LTD XS0731930797 18-Jan-2017 500 FIXED 4.05 101.85 102.53 1.57 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

FIRST GULF BANK XS0840538994 9-Oct-2017 650 FIXED 2.86 100.83 101.58 1.94 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

FIRST GULF BANK XS0992167865 14-Jan-2019 500 FIXED 3.25 101.10 101.68 2.67 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

FIRST GULF BANK XS1193304596 24-Feb-2020 750 FIXED 2.63 98.11 98.94 2.90 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

HSBC BNK MIDDLE EAST LTD XS1114125534 1-Oct-2019 400 FIXED 2.75 99.88 100.46 2.62 -/A2/AA- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

IBQ FINANCE LTD XS1325770722 25-Nov-2020 500 FIXED 3.50 99.49 100.06 3.49 -/A2/A+ QATAR Sr Unsecured 200,000 P2



January 3, 2016 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

ICD FUNDING LTD XS1069870415 21-May-2024 300 FIXED 4.63 99.67 100.56 4.54 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ICD SUKUK CO LTD XS1069869839 21-May-2020 700 FIXED 3.51 99.50 100.25 3.45 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

KINGDOM OF BAHRAIN XS1110833123 19-Sep-2044 1250 FIXED 6.00 76.69 77.89 7.97 BBB-/-/BBB- BAHRAIN Unsecured 200,000 P3

KINGDOM OF BAHRAIN XS1324932273 26-Jan-2021 700 FIXED 5.88 102.17 102.80 5.24 BBB-/-/BBB-e BAHRAIN Sr Unsecured 200,000 P2

KINGDOM OF BAHRAIN XS1324931895 26-Jan-2026 800 FIXED 7.00 99.79 101.07 6.85 BBB-/-/BBB-e BAHRAIN Sr Unsecured 200,000 P3

LAMAR FUNDING LTD XS1117297355 7-May-2025 1000 FIXED 3.96 88.84 90.11 5.31 BBB/A3/- OMAN Sr Unsecured 200,000 P2

MAF GLOBAL SECURITIES XS1064799841 7-May-2024 500 FIXED 4.75 101.74 102.49 4.39 BBB/-/BBB UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

MAF SUKUK LTD XS1308713723 3-Nov-2025 500 FIXED 4.50 99.61 100.36 4.45 BBB/-/BBB UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

MASHREQBANK PSC XS0283928264 24-Jan-2017 354 FLOATING 1.44 97.00 97.75 3.89 BBB/Ba2/A- UNITED ARAB EMIRATES Subordinated 100,000 P3

MDC-GMTN B.V. XS1062852253 28-Apr-2022 750 FIXED 3.25 99.83 100.50 3.16 AA/Aa2/AA UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

MUBADALA GE CAPITAL LTD XS1198082437 10-Nov-2019 0 FIXED 3.00 #N/A N/A #N/A N/A #N/A N/A -/WR/WD UNITED ARAB EMIRATES Sr Unsecured 200,000 P5

MUMTALAKAT SUKUK HOLDING XS1143085014 25-Nov-2021 600 FIXED 4.00 94.53 95.68 4.85 BBB-/-/BBB- BAHRAIN Sr Unsecured 200,000 P2

NATIONAL BANK OF OMAN XS1117537172 7-Oct-2019 500 FIXED 3.13 100.02 100.77 2.91 -/A3/- OMAN Sr Unsecured 200,000 P2

NATIONAL BK OF ABU DHABI XS0815939656 13-Aug-2019 750 FIXED 3.00 101.46 102.21 2.36 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

NATIONAL BK OF ABU DHABI XS1186986904 11-Feb-2020 750 FIXED 2.25 98.00 98.65 2.60 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

OOREDOO INTERNATIONAL FI XS0866438475 21-Feb-2023 1000 FIXED 3.25 97.32 98.02 3.57 A-/A2/A+ QATAR Sr Unsecured 200,000 P2

OOREDOO INTERNATIONAL FI XS0880134258 31-Jan-2028 500 FIXED 3.88 94.92 95.67 4.34 A-/A2/A+ QATAR Sr Unsecured 200,000 P3

OOREDOO INTERNATIONAL FI XS0881740384 31-Jan-2043 500 FIXED 4.50 96.71 97.91 4.64 A-/A2/A+ QATAR Sr Unsecured 200,000 P3

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 101.32 102.00 2.32 A-/A2/A+ QATAR Sr Unsecured 200,000 P2

QIB SUKUK LTD XS1310192031 27-Oct-2020 750 FIXED 2.75 98.25 98.82 3.02 -/-/A+ QATAR Sr Unsecured 200,000 P2

QNB FINANCE LTD XS0748305017 22-Feb-2017 1000 FIXED 3.38 101.52 102.10 1.49 A+/Aa3/AA- QATAR Sr Unsecured 200,000 P2

QNB FINANCE LTD XS0854469599 14-Feb-2018 1000 FIXED 2.13 99.33 99.92 2.17 A+/Aa3/AA- QATAR Sr Unsecured 200,000 P2

QNB FINANCE LTD XS0987063566 31-Oct-2018 750 FIXED 2.75 100.43 100.97 2.39 A+/Aa3/AA- QATAR Sr Unsecured 200,000 P2

QNB FINANCE LTD XS0923450414 29-Apr-2020 1000 FIXED 2.88 100.38 101.00 2.63 -/Aa3/AA- QATAR Sr Unsecured 200,000 P2

RAK CAPITAL XS0981184541 21-Oct-2018 500 FIXED 3.30 101.94 102.77 2.27 A/-/A UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

RAKFUNDING CAYMAN LTD XS1078355986 24-Jun-2019 800 FIXED 3.25 98.21 98.96 3.57 -/Baa1/BBB+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

SABIC CAPITAL II BV XS0971431613 3-Oct-2018 1000 FIXED 2.63 100.08 100.67 2.37 A+/A1/A+ SAUDI ARABIA Sr Unsecured 200,000 P2

SAUDI ELECTRICITY GLOBAL XS0764883806 3-Apr-2017 500 FIXED 2.67 100.48 101.05 1.81 A+/A1/AA- SAUDI ARABIA Sr Unsecured 200,000 P2



SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 100.32 101.14 3.61 A/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

SIB SUKUK CO III LTD XS0916902769 16-Apr-2018 500 FIXED 2.95 100.72 101.47 2.29 BBB+/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

SIB SUKUK CO III LTD XS1202089428 17-Mar-2020 500 FIXED 2.84 98.21 98.95 3.11 -/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

SOQ SUKUK A Q.S.C XS0801656330 18-Jan-2023 2000 FIXED 3.24 103.38 104.13 2.60 AA/Aa2/- QATAR Sr Unsecured 200,000 P2

TAQA ABU DHABI NATL ENER XS0717839525 13-Mar-2017 750 FIXED 4.13 101.67 102.17 2.26 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2



January 3, 2016 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

AMERICA MOVIL SAB DE CV US02364WBD65 16-Jul-2022 1600 FIXED 3.13 98.02 98.53 3.38 A-/A2/A MEXICO Sr Unsecured 200,000 P2

AMERICA MOVIL SAB DE CV US02364WBE49 16-Jul-2042 1150 FIXED 4.38 89.07 90.72 5.01 A-/A2/A MEXICO Sr Unsecured 200,000 P3

AXIATA SPV2 BHD XS1316202255 19-Nov-2020 500 FIXED 3.47 100.03 100.26 3.41 BBB/Baa2/- MALAYSIA Sr Unsecured 200,000 P2

COMISION FED DE ELECTRIC USP30179AK43 14-Feb-2042 750 FIXED 5.75 88.13 89.72 6.58 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 200,000 P3

ECOPETROL SA US279158AK55 16-Jan-2025 1200 FIXED 4.13 79.95 80.79 7.03 BBB/Baa2/BBB COLOMBIA Sr Unsecured 1,000 P2

ECOPETROL SA US279158AL39 26-Jun-2026 1500 FIXED 5.38 84.71 85.66 7.36 BBB/Baa2/BBB COLOMBIA Sr Unsecured 1,000 P3

ECOPETROL SA US279158AJ82 28-May-2045 2000 FIXED 5.88 71.00 72.17 8.45 BBB/Baa2/BBB COLOMBIA Sr Unsecured 1,000 P3

EMBRAER NETHERLANDS FINA US29082HAA05 15-Jun-2025 1000 FIXED 5.05 91.09 91.91 6.19 BBB/Baa3/- BRAZIL Sr Unsecured 2,000 P2

FOMENTO ECONOMICO MEX US344419AB20 10-May-2043 700 FIXED 4.38 91.58 94.11 4.76 A-/-/A MEXICO Sr Unsecured 150,000 P3

GERDAU TRADE INC USG3925DAA84 30-Jan-2021 1250 FIXED 5.75 78.95 80.61 10.82 BBB-/NR/BBB- BRAZIL Sr Unsecured 100,000 P3

GERDAU TRADE INC USG3925DAB67 15-Apr-2023 750 FIXED 4.75 69.70 71.61 10.41 BBB-/Baa3 /*-/BBB- BRAZIL Sr Unsecured 200,000 P3

GRUPO TELEVISA SAB US40049JBA43 13-May-2045 1000 FIXED 5.00 86.01 87.25 5.92 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 200,000 P3

LUKOIL INTL FINANCE BV XS0919502434 24-Apr-2018 1500 FIXED 3.42 97.22 97.94 4.36 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 200,000 P2

LUKOIL INTL FINANCE BV XS0304274599 7-Jun-2022 500 FIXED 6.66 102.36 103.50 5.99 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 100,000 P2

LUKOIL INTL FINANCE BV XS0919504562 24-Apr-2023 1500 FIXED 4.56 89.55 90.68 6.17 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 200,000 P2

MMC NORILSK NICK VIA MMC XS0982861287 28-Oct-2020 1000 FIXED 5.55 99.83 100.67 5.39 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 200,000 P2

PETROLEOS MEXICANOS US71654QBG64 30-Jan-2023 2100 FIXED 3.50 86.46 87.28 5.71 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 10,000 P2

PETROLEOS MEXICANOS US71656MBA62 15-Jan-2025 1000 FIXED 4.25 87.55 88.36 5.93 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 10,000 P2

PETROLEOS MEXICANOS US71656MBD02 23-Jan-2026 1500 FIXED 4.50 87.65 88.64 6.02 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 10,000 P3

PETROLEOS MEXICANOS US71656MBE84 23-Jan-2046 3000 FIXED 5.63 76.39 77.39 7.54 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 10,000 P3

PHILIPPINE GOVERNMENT PHY6972FTP53 4-Jun-2023 500 FIXED 2.75 97.57 98.82 2.93 -/Baa2/- PHILIPPINES Sr Unsecured 10,000 P2

REPUBLIC OF AZERBAIJAN XS1044540547 18-Mar-2024 1250 FIXED 4.75 93.42 94.40 5.61 -/Baa3/BBB- AZERBAIJAN Sr Unsecured 200,000 P2

REPUBLIC OF COLOMBIA USP3772NHK11 15-Mar-2023 1000 FIXED 2.63 88.50 88.50 4.51 BBB/Baa2/BBB COLOMBIA Sr Unsecured 200,000 P2

REPUBLIC OF COLOMBIA US195325BQ70 26-Feb-2024 2100 FIXED 4.00 95.50 95.50 4.67 BBB/Baa2/BBB COLOMBIA Sr Unsecured 200,000 P2

REPUBLIC OF COLOMBIA US195325CU73 15-Jun-2045 2500 FIXED 5.00 84.13 84.13 6.18 BBB/Baa2/BBB COLOMBIA Sr Unsecured 200,000 P3

REPUBLIC OF KAZAKHSTAN XS1120709669 14-Oct-2024 1500 FIXED 3.88 93.97 94.82 4.60 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000 P2

REPUBLIC OF KAZAKHSTAN XS1263054519 21-Jul-2025 2500 FIXED 5.13 98.60 99.39 5.21 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000 P2

REPUBLIC OF KAZAKHSTAN XS1120709826 14-Oct-2044 1000 FIXED 4.88 84.35 84.35 6.03 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000 P3

REPUBLIC OF KAZAKHSTAN XS1263139856 21-Jul-2045 1500 FIXED 6.50 98.26 99.18 6.56 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000 P3

REPUBLIC OF PANAMA US698299BE38 16-Mar-2025 1250 FIXED 3.75 97.96 98.69 3.92 BBB/Baa2/BBB PANAMA Sr Unsecured 200,000 P2

REPUBLIC OF TURKEY US900123CA66 23-Mar-2023 1500 FIXED 3.25 91.68 92.08 4.55 -/Baa3/BBB- TURKEY Sr Unsecured 200,000 P2

REPUBLIC OF TURKEY US900123CJ75 14-Apr-2026 1500 FIXED 4.25 93.71 94.47 4.94 -/Baa3/BBB- TURKEY Sr Unsecured 200,000 P3

REPUBLIC OF TURKEY US900123CB40 16-Apr-2043 3000 FIXED 4.88 87.99 88.52 5.71 -/Baa3/BBB- TURKEY Sr Unsecured 200,000 P3

TRANSPORT DE GAS PERU USP9367RAG67 30-Apr-2028 850 FIXED 4.25 93.04 94.64 4.92 BBB+/Baa1/BBB+ PERU Sr Unsecured 200,000 P3

TURK TELEKOMUNIKASYON AS XS1028952155 19-Jun-2019 500 FIXED 3.75 98.67 99.67 3.85 BBB-/-/BBB- TURKEY Sr Unsecured 200,000 P2



January 3, 2016 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

TURK TELEKOMUNIKASYON AS XS1028951264 19-Jun-2024 500 FIXED 4.88 94.21 95.21 5.59 BBB-/-/BBB- TURKEY Sr Unsecured 200,000 P2

TURKCELL ILETISIM HIZMET XS1298711729 15-Oct-2025 500 FIXED 5.75 95.83 96.83 6.18 BBB-/Baa3/BBB- TURKEY Unsecured 200,000 P2

UNITED MEXICAN STATES US91087BAA89 30-Jan-2025 3000 FIXED 3.60 97.10 98.10 3.85 BBB+/A3/BBB+ MEXICO Sr Unsecured 200,000 P2

UNITED MEXICAN STATES US91086QBB32 8-Mar-2044 4463 FIXED 4.75 91.00 92.00 5.30 BBB+/A3/BBB+ MEXICO Sr Unsecured 2,000 P3

UNITED MEXICAN STATES US91086QBF46 23-Jan-2046 3000 FIXED 4.60 88.50 89.50 5.30 BBB+/A3/BBB+ MEXICO Sr Unsecured 200,000 P3

VALE OVERSEAS LIMITED US91911TAM53 11-Jan-2022 2250 FIXED 4.38 75.45 76.40 9.64 BBB/Baa3/BBB /*- BRAZIL Sr Unsecured 2,000 P3

VALE OVERSEAS LIMITED US91911TAH68 21-Nov-2036 2500 FIXED 6.88 69.84 71.30 10.23 BBB/Baa3/BBB /*- BRAZIL Sr Unsecured 2,000 P3

VALE OVERSEAS LIMITED US91911TAK97 10-Nov-2039 1750 FIXED 6.88 69.08 70.92 10.13 BBB/Baa3/BBB /*- BRAZIL Sr Unsecured 2,000 P3

VALE SA US91912EAA38 11-Sep-2042 1500 FIXED 5.63 66.83 68.22 8.71 BBB/Baa3/BBB /*- BRAZIL Sr Unsecured 2,000 P3

YAPI VE KREDI BANKASI XS0874840688 22-Jan-2020 500 FIXED 4.00 95.80 96.60 4.94 -/Baa3/BBB TURKEY Sr Unsecured 200,000 P2



January 3, 2016 USD INDIA INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

ADANI PORTS AND SPECIAL USY00130CZ88 29-Jul-2020 650 FIXED 3.50 98.53 98.94 3.76 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

AE ROTOR HOLDING BV XS0907891047 28-Mar-2018 647 FIXED 4.97 102.74 103.51 3.34 -/Baa3/- INDIA Sr Unsecured 200,000 P2

AXIS BANK/DUBAI US05463EAC21 21-May-2020 750 FIXED 3.25 100.24 100.70 3.08 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

BANK OF INDIA LONDON USY06865AA04 21-Sep-2018 500 FIXED 3.63 101.67 102.05 2.83 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

BANK OF INDIA/JERSEY XS1227592703 6-May-2020 750 FIXED 3.13 98.16 98.44 3.52 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

BHARAT PETROLEUM CORP XS1227064430 8-May-2025 500 FIXED 4.00 97.25 98.01 4.26 -/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

BHARAT PETROLEUM CORP LT XS0848436365 25-Oct-2022 500 FIXED 4.63 102.88 103.44 4.04 -/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

BHARTI AIRTEL LTD USY0889VAA80 10-Jun-2025 1000 FIXED 4.38 97.94 98.57 4.56 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

EXPORT-IMPORT BK INDIA XS0813393849 7-Aug-2017 500 FIXED 4.00 102.58 102.96 2.10 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

EXPORT-IMPORT BK INDIA XS1050464996 2-Oct-2019 500 FIXED 3.88 103.08 103.47 2.89 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

EXPORT-IMPORT BK INDIA XS1209864229 1-Apr-2020 500 FIXED 2.75 98.65 99.03 3.00 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

EXPORT-IMPORT BK INDIA XS1165130219 12-Aug-2020 500 FIXED 2.75 98.45 98.88 3.01 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

EXPORT-IMPORT BK INDIA XS0872917660 14-Jan-2023 750 FIXED 4.00 101.32 102.01 3.67 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

HDFC BANK LTD/BAH XS0897434949 6-Mar-2018 500 FIXED 3.00 100.60 100.98 2.53 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

ICICI BANK LTD/DUBAI US45112FAG19 18-Mar-2020 700 FIXED 3.50 101.05 101.51 3.11 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

ICICI BANK LTD/DUBAI XS1274011102 12-Aug-2020 500 FIXED 3.13 99.66 100.15 3.09 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

IDBI BANK LTD/DIFC DUBAI XS1325600994 30-Nov-2020 350 FIXED 4.25 100.21 100.54 4.13 BB+/Baa3/BBB- INDIA Sr Unsecured 200,000 P5

INDIAN RAILWAY FINANCE C XS0836520717 10-Oct-2017 300 FIXED 3.42 101.55 101.76 2.39 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

INDIAN RAILWAY FINANCE C XS1016035476 26-Feb-2019 500 FIXED 3.92 102.69 102.98 2.92 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

NTPC LTD XS1143390679 26-Nov-2024 500 FIXED 4.38 100.93 101.55 4.16 BBB-/-/BBB- INDIA Sr Unsecured 200,000 P2

OIL INDIA LTD XS1057074871 17-Apr-2019 500 FIXED 3.88 102.28 102.53 3.06 -/Baa2/BBB- INDIA Sr Unsecured 200,000 P2

ONGC VIDESH LTD XS0927643030 7-May-2018 300 FIXED 2.50 99.25 99.48 2.73 BBB-/Baa2/- INDIA Sr Unsecured 200,000 P2

ONGC VIDESH LTD XS1084957155 15-Jul-2019 750 FIXED 3.25 100.40 100.70 3.04 BBB-/Baa2/- INDIA Sr Unsecured 200,000 P2

ONGC VIDESH LTD XS0922882344 7-May-2023 500 FIXED 3.75 97.65 98.06 4.06 BBB-/Baa2/- INDIA Sr Unsecured 200,000 P2

ONGC VIDESH LTD XS1079848369 15-Jul-2024 750 FIXED 4.63 101.83 102.49 4.27 BBB-/Baa2/- INDIA Sr Unsecured 200,000 P2

POWER GRID CORP OF INDIA XS0875759184 17-Jan-2023 500 FIXED 3.88 99.23 100.03 3.87 BBB-/-/BBB- INDIA Sr Unsecured 200,000 P2

RELIANCE INDUSTRIES LTD USY72596BU56 28-Jan-2025 1000 FIXED 4.13 97.98 98.64 4.31 BBB+/Baa2/- INDIA Sr Unsecured 250,000 P2

RELIANCE INDUSTRIES LTD USY72570AM99 10-Feb-2045 750 FIXED 4.88 90.32 91.36 5.47 BBB+/Baa2/- INDIA Sr Unsecured 250,000 P3

STATE BANK INDIA/LONDON USU85528AB04 1-Aug-2017 1250 FIXED 4.13 102.66 102.98 2.18 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

STATE BANK INDIA/LONDON USY81636AC94 18-Apr-2018 1000 FIXED 3.25 101.31 101.58 2.53 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

STATE BANK INDIA/LONDON USY81647AA02 17-Apr-2019 750 FIXED 3.62 102.13 102.41 2.85 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000 P2

SYNDICATE BANK XS0841358103 12-Apr-2018 500 FIXED 4.13 102.18 102.53 2.96 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

SYNDICATE BANK/LONDON XS1073127901 4-Dec-2019 400 FIXED 3.88 102.03 102.32 3.24 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

UNION BANK OF INDIA HK XS0819566182 22-Aug-2017 350 FIXED 4.63 103.12 103.52 2.41 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2

UNION BANK OF INDIA HK XS0923436264 25-Oct-2018 350 FIXED 3.63 101.30 101.74 2.97 BBB-/Baa3/- INDIA Sr Unsecured 200,000 P2



January 3, 2016 USD SUKUK


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

ADCB ISLAMIC FINANCE CAY XS0708308845 22-Nov-2016 500 FIXED 4.07 101.92 102.43 1.28 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

APICORP SUKUK XS1310991424 28-Oct-2020 500 FIXED 2.38 97.18 98.04 2.82 -/Aa3/- SUPRANATIONAL Sr Unsecured 200,000 P2

AXIATA SPV2 BHD XS1316202255 19-Nov-2020 500 FIXED 3.47 100.03 100.26 3.41 BBB/Baa2/- MALAYSIA Sr Unsecured 200,000 P2

DIB SUKUK LTD XS1241110300 3-Jun-2020 750 FIXED 2.92 97.91 98.73 3.23 -/Baa1/A UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

DIFC SUKUK XS1120403313 12-Nov-2024 700 FIXED 4.33 99.47 100.15 4.30 BBB-/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMAAR SUKUK LTD XS0805885349 18-Jul-2019 500 FIXED 6.40 111.01 111.63 2.91 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMAAR SUKUK LTD XS0586840588 3-Aug-2016 500 FIXED 8.50 103.84 104.54 0.61 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

EMG SUKUK LTD XS1075401726 18-Jun-2024 750 FIXED 4.56 100.96 101.71 4.32 BBB-/Baa2/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

HONG KONG SUKUK USY35527AA11 18-Sep-2019 1000 FIXED 2.01 99.36 99.85 2.05 AAA/Aa1/- HONG KONG Unsecured 200,000 P2

HONG KONG SUKUK 2015 LTD XS1226268735 3-Jun-2020 1000 FIXED 1.89 98.51 98.90 2.16 AAA/Aa1/- HONG KONG Sr Unsecured 200,000 P2

ICD SUKUK CO LTD XS1069869839 21-May-2020 700 FIXED 3.51 99.50 100.25 3.45 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

ISLAMIC REP OF PAKISTAN XS1147732553 3-Dec-2019 1000 FIXED 6.75 101.12 102.08 6.14 B-/B3/B PAKISTAN Sr Unsecured 200,000 P5

MAF SUKUK LTD XS1308713723 3-Nov-2025 500 FIXED 4.50 99.61 100.36 4.45 BBB/-/BBB UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

MALAYSIA SOVEREIGN SUKUK USY5749LAA99 22-Apr-2025 1000 FIXED 3.04 95.55 96.25 3.52 A-/A3/- MALAYSIA Unsecured 200,000 P2

MALAYSIA SOVEREIGN SUKUK USY5749LAB72 22-Apr-2045 500 FIXED 4.24 92.54 93.53 4.64 A-/A3/- MALAYSIA Unsecured 200,000 P4

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 101.32 102.00 2.32 A-/A2/A+ QATAR Sr Unsecured 200,000 P2

PERUSAHAAN PENERBIT SBSN USY68616AA22 21-Nov-2018 1000 FIXED 4.00 104.17 104.67 2.31 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000 P3

PERUSAHAAN PENERBIT SBSN US71567RAC07 10-Sep-2024 1500 FIXED 4.35 95.54 96.29 4.88 -/Baa3/BBB- INDONESIA Sr Unsecured 200,000 P4

PERUSAHAAN PENERBIT SBSN US71567RAB24 15-Mar-2019 1500 FIXED 6.13 109.13 109.71 2.92 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000 P3

PERUSAHAAN PENERBIT SBSN US71567RAA41 21-Nov-2022 1000 FIXED 3.30 93.00 93.67 4.38 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000 P4

PERUSAHAAN PENERBIT SBSN US71567RAD89 28-May-2025 2000 FIXED 4.33 95.33 96.00 4.86 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000 P4

PETRONAS GLOBAL SUKUK LT USY68868AA92 18-Mar-2020 1250 FIXED 2.71 98.59 98.96 2.97 A-/A1/- MALAYSIA Sr Unsecured 200,000 P2

QIB SUKUK LTD XS1310192031 27-Oct-2020 750 FIXED 2.75 98.25 98.82 3.02 -/-/A+ QATAR Sr Unsecured 200,000 P2

SAUDI ELEC GLOBAL SUKUK XS1054250318 8-Apr-2044 1000 FIXED 5.50 89.75 90.89 6.19 A+/A1/AA- SAUDI ARABIA Sr Unsecured 200,000 P3

SAUDI ELEC GLOBAL SUKUK XS1054250235 8-Apr-2024 1500 FIXED 4.00 99.21 99.77 4.03 A+/A1/AA- SAUDI ARABIA Sr Unsecured 200,000 P2





SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 100.32 101.14 3.61 A/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2



SUKUK FUNDING NO3 LTD XS0993959583 3-Dec-2018 750 FIXED 4.35 103.25 103.75 2.99 BBB-/Baa3/- UNITED ARAB EMIRATES Sr Unsecured 200,000 P2

WAKALA GLOBAL SUKUK BHD USY9485PAB86 6-Jul-2021 800 FIXED 4.65 107.97 108.33 2.99 A-/A3/- MALAYSIA Sr Unsecured 250,000 P2

WAKALA GLOBAL SUKUK BHD USY9485PAA04 6-Jul-2016 1200 FIXED 2.99 100.64 100.81 1.36 A-/A3/- MALAYSIA Sr Unsecured 250,000 P2



January 3, 2016 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

ABN AMRO BANK NV XS1218821756 16-Apr-2025 1250 FIXED 1.00 95.20 95.68 1.50 A/A2/A NETHERLANDS Sr Unsecured 1,000 P2

ANGLO AMERICAN CAPITAL XS0923361827 29-Apr-2021 750 FIXED 2.50 69.33 70.63 9.85 BBB- /*-/Baa3 /*-/BBB- /*- UNITED KINGDOM Sr Unsecured 100,000 P3

AT&T INC XS1196373507 5-Sep-2023 1250 FIXED 1.30 96.56 97.16 1.70 BBB+/Baa1/A- UNITED STATES Sr Unsecured 100,000 P2

BANK OF AMERICA CORP XS1209863254 26-Mar-2025 750 FIXED 1.38 95.12 95.64 1.89 BBB+/Baa1/A UNITED STATES Sr Unsecured 100,000 P2

BANKIA SA ES0413307093 25-Sep-2025 1000 FIXED 1.00 93.45 93.89 1.69 A+/A1u/A- SPAIN Secured 100,000 P2

BARCLAYS PLC XS1116480697 1-Apr-2022 1000 FIXED 1.50 99.01 99.35 1.61 BBB/Baa3/A UNITED KINGDOM Sr Unsecured 100,000 P2

BERKSHIRE HATHAWAY INC XS1200670955 16-Mar-2023 750 FIXED 0.75 96.33 96.69 1.23 AA /*-/Aa2/A+ UNITED STATES Sr Unsecured 100,000 P2

BHP BILLITON FINANCE LTD XS1225004461 28-Oct-2022 650 FIXED 0.75 92.99 93.60 1.75 A+/A1 /*-/A+ AUSTRALIA Sr Unsecured 100,000 P2

BLACKROCK INC XS1117297785 6-May-2025 700 FIXED 1.25 95.67 96.17 1.70 AA-/A1/- UNITED STATES Sr Unsecured 100,000 P2

BMW FINANCE NV XS1168962063 21-Jan-2025 750 FIXED 1.00 95.24 95.84 1.49 A+/A2/- GERMANY Sr Unsecured 1,000 P2

BNP PARIBAS XS1190632999 17-Feb-2025 1500 FIXED 2.38 97.30 97.61 2.67 BBB+/Baa2/A FRANCE Subordinated 100,000 P3

BP CAPITAL MARKETS PLC XS1190973559 16-Feb-2023 1250 FIXED 1.11 97.25 97.87 1.43 A/A2/A UNITED KINGDOM Sr Unsecured 100,000 P2

BPCE SA FR0012633345 12-Mar-2025 375 FIXED 2.25 94.18 94.60 2.93 BBB/Baa3/A- FRANCE Subordinated 100,000 P3

BRISTOL-MYERS SQUIBB CO XS1226748439 15-May-2025 575 FIXED 1.00 96.30 96.91 1.35 A+/A2/A- UNITED STATES Sr Unsecured 100,000 P2

CARREFOUR SA XS1179916017 3-Jun-2025 750 FIXED 1.25 96.94 97.43 1.55 BBB+/NR/BBB+ FRANCE Sr Unsecured 100,000 P2

CITIGROUP INC XS1173792059 28-Jan-2025 1250 FIXED 1.75 98.45 98.99 1.87 BBB+/Baa1/A UNITED STATES Sr Unsecured 100,000 P2

COCA-COLA CO/THE XS1197832915 9-Mar-2023 1500 FIXED 0.75 97.43 97.70 1.09 AA/Aa3/A+ UNITED STATES Sr Unsecured 100,000 P2

CRED SUIS GP FUN LTD XS1218287230 14-Apr-2022 2250 FIXED 1.25 96.75 97.17 1.73 BBB+/Baa2 /*-/A SWITZERLAND Sr Unsecured 100,000 P2

CREDIT AGRICOLE LONDON XS1169630602 19-Jan-2022 1500 FIXED 0.88 98.28 98.60 1.12 A/A2/A FRANCE Sr Unsecured 100,000 P2

CREDIT AGRICOLE LONDON FR0012534931 13-Feb-2022 700 FIXED 0.89 98.40 98.72 1.10 A/A2/A FRANCE Sr Unsecured 100,000 P2

CREDIT AGRICOLE LONDON FR0012770261 9-Jun-2022 500 FIXED 1.16 99.63 99.97 1.17 A/A2/A FRANCE Sr Unsecured 100,000 P2

DANONE SA FR0012432912 14-Jan-2025 750 FIXED 1.13 96.77 97.31 1.44 A-/Baa1/- FRANCE Sr Unsecured 100,000 P2

DEUTSCHE BANK AG DE000DB7XJJ2 17-Feb-2025 1250 FIXED 2.75 92.91 93.53 3.59 BB+/Ba1/BBB+ GERMANY Subordinated 1,000 P5

DEUTSCHE BANK AG DE000DB7XJP9 17-Mar-2025 1500 FIXED 1.13 93.05 93.42 1.91 BBB+/A3/A- GERMANY Sr Unsecured 100,000 P2

EDP FINANCE BV XS1222590488 22-Apr-2025 750 FIXED 2.00 90.99 91.66 3.04 BB+/Baa3/BBB- PORTUGAL Sr Unsecured 100,000 P4

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

COUPON0.00 94.17 94.46 1.06 -/Baa2/BBB+ AUSTRIA Sr Unsecured 1,000 P2

GE CAPITAL EURO FUNDING XS1169353254 21-Jan-2022 1000 FIXED 0.80 98.72 99.00 0.97 AA+/A1/- UNITED STATES Sr Unsecured 100,000 P2

GLENCORE FINANCE EUROPE XS1202846819 17-Mar-2021 1250 FIXED 1.25 72.33 73.60 7.58 BBB/Baa3/- SWITZERLAND Sr Unsecured 100,000 P3

GLENCORE FINANCE EUROPE XS1110430193 18-Jan-2022 700 FIXED 1.63 69.72 70.96 7.85 BBB/Baa3/- SWITZERLAND Sr Unsecured 100,000 P3

GLENCORE FINANCE EUROPE XS1202849086 17-Mar-2025 750 FIXED 1.75 62.56 63.96 7.25 BBB/Baa3/- SWITZERLAND Sr Unsecured 100,000 P3

GOLDMAN SACHS GROUP INC XS1173845436 26-Jul-2022 1000 FIXED 1.38 99.48 99.83 1.40 BBB+/A3/A UNITED STATES Sr Unsecured 1,000 P2

IBERDROLA INTL BV XS1171541813 27-Jan-2023 600 FIXED 1.13 98.03 98.57 1.34 BBB/Baa1/BBB+ SPAIN Sr Unsecured 100,000 P2

INTESA SANPAOLO SPA XS1197351577 4-Mar-2022 1500 FIXED 1.13 97.24 97.65 1.53 BBB-/Baa1/BBB+ ITALY Sr Unsecured 100,000 P2

JPMORGAN CHASE & CO XS1174469137 27-Jan-2025 1500 FIXED 1.50 98.33 98.71 1.65 A-/A3/A+ UNITED STATES Sr Unsecured 100,000 P2

LLOYDS BANK PLC XS1167204699 13-Jan-2025 1250 FIXED 1.25 97.77 98.26 1.46 A/A1/A+ UNITED KINGDOM Sr Unsecured 100,000 P2



January 3, 2016 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


Risk

Rating

MACQUARIE BANK LTD XS1169353338 20-Jan-2022 500 FIXED 1.13 97.20 97.63 1.54 A/A2/A AUSTRALIA Sr Unsecured 100,000 P2

MCDONALD'S CORP XS1237271009 26-May-2022 800 FIXED 1.13 99.40 99.83 1.15 BBB+/Baa1/BBB+ UNITED STATES Sr Unsecured 100,000 P2

METRO AG XS1203941775 19-Mar-2025 600 FIXED 1.50 94.48 95.20 2.08 BBB-/Baa3u/BBB- GERMANY Sr Unsecured 1,000 P2

MORGAN STANLEY XS1180256528 30-Jan-2025 1500 FIXED 1.75 98.23 98.65 1.91 BBB+/A3/A UNITED STATES Sr Unsecured 100,000 P2

ROCHE FINANCE EUROPE BV XS1195056079 25-Feb-2025 1000 FIXED 0.88 97.79 98.52 1.05 AA/A1/- SWITZERLAND Sr Unsecured 1,000 P2

SANTANDER ISSUANCES XS1201001572 18-Mar-2025 1500 FIXED 2.50 93.84 94.46 3.20 BBB/Baa2/BBB+ SPAIN Subordinated 100,000 P3

SAP SE DE000A14KJF5 1-Apr-2025 600 FIXED 1.00 96.87 97.84 1.25 A/A2/- GERMANY Sr Unsecured 1,000 P2

SOCIETE GENERALE XS1195574881 27-Feb-2025 1250 FIXED 2.63 95.97 96.50 3.07 -/Baa3/A- FRANCE Subordinated 100,000 P3

STANDARD CHARTERED PLC XS1140857316 19-Nov-2024 500 FIXED 3.13 96.33 97.00 3.52 BBB/A2 /*-/A UNITED KINGDOM Subordinated 100,000 P3

STATOIL ASA XS1190624111 17-Feb-2023 1000 FIXED 0.88 96.43 97.07 1.31 AA-/Aa2/- NORWAY Sr Unsecured 100,000 P2

TOTAL CAPITAL INTL SA XS1139315581 19-Mar-2025 850 FIXED 1.38 96.81 97.56 1.66 AA-/Aa1/AA- FRANCE Sr Unsecured 100,000 P2

VOLKSWAGEN INTL FIN NV XS1167644407 16-Jan-2023 1000 FIXED 0.88 91.69 92.46 2.04 BBB+/A3/- GERMANY Sr Unsecured 1,000 P2


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