mashreq€¦ · singapore airlines ltd. is poised to regain the title of world’slongest flight...

mashreqFixed Income Trading

Daily Market Update

Market Update

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Wednesday, October 14, 2015

Dubai economy may grow 4% in 2015 as trade & tourism benefit from cheap oil

The Department of Economic Development (DED) Director General Sami Al Qamzi has said that Dubai’s economy is set to expand by 4% in 2015 as the

lower oil price benefits sectors such as trade and tourism. He said growth in India and the US, as well as rising demand in Europe, would also boost the

Emirate. The International Monetary Fund (IMF) has revised its growth forecast lower for the UAE to 3% in 2015 and 3.1% in 2016, down from 4.6% in

2014, as the oil slump results in weaker real estate and corporate activities. According to the IMF’s annual report on the UAE’s economy, IMF forecasts

that USD13bn will be added to the UAE’s economy by the ending of sanctions on Iran, as trade between the two countries rises between now and 2018.

That is equivalent to a 1% gain in real GDP growth each year over the next three years. Raed Safadi, Executive Director of Economic Research & Policy at

the DED, said inflation is expected to remain between 4.5-5% in 2015, while IMF is forecasting inflation of 3.8% in 2015, up from 2.3% in 2014.

(GulfBase.com)

Singapore Airline poised to regain title for operating the world’s longest flight

Singapore Airlines Ltd. is poised to regain the title of world’s longest flight with a nonstop service to New York. The 19-hour journey covering more than

15,300 kilometers (9,300 miles) will beat the proposed 13,821-kilometer flight that Emirates intends to start in February from Dubai to Panama City.

Singapore Air will take delivery of an ultra- long range version of Airbus Group SE’s A350 in 2018 for the nonstop service, the carrier said in an e-mailed

statement Tuesday. Currently, the world’s longest flight is Qantas Airways Ltd.’s service from Sydney to Dallas. (Bloomberg)

Singapore eases policy as economy narrowly avoids recession

Singapore’s central bank eased monetary policy for the second time this year as the economy narrowly avoided a technical recession, saying weakening

prospects for global growth will pose "headwinds" in the coming months. The Monetary Authority of Singapore, which uses the currency rather than

interest rates as its main policy tool, said Wednesday it will reduce “slightly" the pace of appreciation in the local dollar versus those of its trading

partners. Gross domestic product unexpectedly rose an annualized 0.1% in the three months through September from the previous quarter, when it

shrank a revised 2.5%, the trade ministry said in a separate statement. The export-dependent island nation is vulnerable to swings in global trade

demand, and its performance has reflected the regional fallout from China’s economic deceleration in recent quarters. (Bloomberg)

Oman ‘considers major reforms’, including remittance tax, amid oil slump

Oman is considering major reforms in order to cut spending and increase revenues amid an oil price slump that has resulted in a significant rise in the

country’s deficit, according to local media. The measures being studied by the cabinet include the levying of taxes on expatriate remittances, increasing

taxes on real estate rent contracts, as well as rises in electricity tariffs, traffic fines, vehicle registration, renewal and insurance fees, according to Azamn

daily newspaper. The reported move comes as Oman has run a 1.8 billion riyal (AED17.09 billion) budget deficit so far this year, according to data

provided by the Ministry of Finance. Expatriate remittances stood at 35 billion riyals in the past five years, according to the Ministry of Finance’s figures.

The move has been approved by Oman’s elected Shura Council, the lower house of the Council of Oman, to overcome a budget deficit due to drop in oil

prices in 2014. (Gulf News)

Mashreq weighs potential Turkey expansion - CEO Abdul Aziz Alghurair

Mashreq, the Dubai-based lender, may consider a potential acquisition in Turkey as some international banks seek to sell assets in the country, Chief

Executive Officer Abdul Aziz Al Ghurair said. “Turkey we keep looking at ,” he told reporters on Tuesday in Dubai. “There are few banks exiting Turkey

now and depending on the size, price and timing” Mashreq would consider a potential deal, he said. Al Ghurair ruled out buying assets in Africa saying

Mashreq’s expansion would be “only in the region we know best,” which is the six Gulf Cooperation Council states and the Middle East and North Africa

region. (Bloomberg)

Abdul Aziz al-Ghurair also said that liquidity in the UAE banking sector is still good. The government has adequate means to manage liquidity. He said

Mashreq had no immediate plans to issue bonds. (Reuters)

Abu Dhabi to introduce policy on affordable housing target for developers

The Abu Dhabi Urban Planning Council has said that a new policy, which sets affordable housing targets for developers in Abu Dhabi, could be introduced

before 2015-end. The new policy will place targets for developers to achieve 20% of affordable homes within new housing schemes. (GulfBase.com)

Kuwait oil output to reach 3 million by 2015-end

Kuna reported that Kuwait Oil Company’s crude output capacity would reach 3mn barrels per day by 2015-end. Kuwait Oil is a subsidiary of the Kuwait

Petroleum Corporation, a Government-owned holding company. (Bloomberg)

Mediclinic, Al Noor hospitals to combine in reverse takeover

Mediclinic International Ltd. and Al Noor Hospitals Group Plc agreed to combine, creating a hospital company with operations the Gulf states and South

Africa, after Al Noor fended off an approach by NMC Health Plc. Al Noor is buying Johannesburg-based Mediclinic in a reverse takeover, they said in a

statement today. The companies said this month they were in talks about a tie-up that would create the biggest supplier of private care in Dubai and Abu

Dhabi, with operations in Europe and Southern Africa. (Bloomberg)

Dubai awards ACWA USD1.8 billion power-plant deal on rising demand

Dubai’s government-owned utility picked Saudi Arabia’s ACWA Power International to partner in a USD1.8 billion project to build the emirate’s first coal-

burning generating plant as it steps up efforts to meet rising electricity demand. The 1,200-megawatt facility will be followed by two more, each of the

same size and using the same fuel, Saeed Mohammed Al Tayer, chief executive officer of Dubai Electricity and Water Authority, said on Tuesday at a

news conference in Dubai. Power use in the emirate has risen 6.4% in 2015, faster than the utility’s forecast of 5% growth for the whole year, he said.

(Bloomberg)

Fed’s Tarullo says he does not back a 2015 hike

Governor Daniel Tarullo has argued interest rates should stay on hold. Tarullo told CNBC that he doesn’t currently favor raising interest rates in 2015.

That lines him up with fellow Governor Lael Brainard, who made the case on Monday for patience, and diverges from the majority of Federal Open Market

Committee members including Yellen. The dovish remarks from two of the five members of the Fed Board in Washington are an unusually sharp

contradiction of the Fed’s leadership and set the stage for a robust debate at the central bank’s two remaining policy-setting meetings this year.

(Bloomberg)


Daily Market Update

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New Issue Update

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Earnings Update

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Rating Update

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India’s Wholesale Prices decline for 11 straight months

India’s wholesale prices fell for the 11th straight month as central bank Governor Raghuram Rajan kept monetary policy accommodative. The wholesale

price index dropped 4.54% in September from a year earlier, the Commerce Ministry said in a statement on Wednesday, more than the 4.42% decline

predicted by the median estimate in a Bloomberg survey of 36 economists. The gauge had fallen 4.95% in August. Rajan cut interest rates by a steeper-

than-expected 0.50% last month and said policy must stay accommodative to the extent possible. Consumer prices gained 4.4% in September, faster

than August’s 3.7%, yet below the central bank’s 6% inflation target for the 13th month. The Reserve Bank of India will now shift focus to its 5% CPI

target for March 2017, Rajan had said. (Bloomberg)

China inflation moderates, making room for easing

China’s consumer inflation moderated and factory gate deflation extended a record stretch of declines, signaling the People’s Bank of China still has room

to ease monetary policy further to support a slowing economy. The National Bureau of Statistics said the consumer-price index increased 1.6% YoY in

September, slowing from a 2% rise in August. The producer-price index fell 5.9%, extending its streak of negative readings to 43 months. Food price

inflation slowed to 2.7% YoY, from 3.7% in August. Nonfood prices climbed 1%. Prices of consumer goods increased 1.4%, while services increased

2.1%. With consumer inflation well below the government target of 3% all year, the central bank has further capacity to spur lending even after cutting

interest rates five times since November 2014. (Bloomberg)

IMF cuts growth view on South Africa

According to the International Monetary Fund (IMF), if economic growth in South Africa this year is bad news, 2016 is set to be even worse. The

Washington-based lender has cut its estimate for 2015 to 1.4% from 2%. More concerning was its projection that the gross domestic product (GDP) will

expand just 1.3% in 2016, which would be the slowest pace since a recession in 2009. The IMF’s projections are more pessimistic than those from the

World Bank and South Africa’s central bank. The World Bank is forecasting a GDP growth of 1.5% in 2015 and 1.7% in 2016, while the Reserve Bank

estimates 1.5% and 1.6%, respectively. China’s slump is hurting South Africa in two ways − curbing demand from its biggest trading partner and

reducing revenue from platinum, iron ore and other metals that account for about half of the nation’s exports. Slower growth makes Finance Minister

Nhlanhla Nene’s fiscal targets more difficult to achieve. Nene has pledged to narrow the budget deficit to 2.5% of GDP in the year through March 2018

from an estimated 3.9% in 2015. (Bloomberg)

Qatar Islamic Bank mandates banks for a sukuk issue

Qatar Islamic Bank (QIB) (rated A- S&P / A+ Fitch; both stable outlook), the largest Islamic bank in Qatar by total assets, has mandated Barwa Bank,

Citi, HSBC, Noor Bank, QInvest and Standard Chartered Bank as Joint Lead Managers to arrange a series of fixed income investor meetings in Asia,

Middle East and Europe commencing on 16 October 2015. A benchmark USD Regulation S Senior Sukuk offering under the existing QIB Sukuk Ltd

U.S.USD1,500,000,000 Trust Certificate Issuance Programme may follow subject to market conditions.

Roadshow schedule

16 October 2015 - Singapore

18 October 2015 - Abu Dhabi breakfast / Dubai lunch

19 October 2015 - London

NBK 3Q2015 profit rises 9.1% YoY on higher interest income

National Bank of Kuwait (NBK) reported a net profit of KD64.5 million in 3Q2015 as compared to KD59.1 million in 3Q2014, representing a YoY increase

of 9.1%. The bank’s interest income rose to KD112.3 million in 3Q2015 from KD102.1 million in 3Q2014, driven by strong business volume. Interest

income accounted for 65.7% of the total revenue, while operating revenue was up 2.1% to KD170.9 million. NBK’s total assets grew 9.4% YoY to

KD23.78 billion at the end of September 30, 2015. (Reuters)

Bank Dhofar net profit up 10.12% YoY in 9M2015

Bank Dhofar reported a consolidated net profit of OMR33.4 million in 9M2015 as compared to OMR30.33 million in 9M2014, representing an increase of

10.12% YoY. Bank Dhofar’s operating income stood at OMR84.64 million in 9M2015 as compared to OMR73.31 million in 9M2014. The bank’s total assets

stood at OMR3.34 billion as of September 30, 2015 as compared to OMR2.92 billion as of September 30, 2015. Net loans & advances grew 16.83% YoY to

OMR2.64 billion, while customer deposits jumped 15.96% YoY to reach OMR2.55 billion. (MSM)

Bank Muscat net profit rises 7.5% YoY in 9M2015

Bank Muscat reported a net profit of OMR136.2 million in 9M2015 as compared to OMR126.7 million in 9M2014, representing a YoY increase of 7.5%. The

bank’s operating profit had reached OMR176.6 million in 9M2015 as compared to OMR169.3 million in 9M2014. Net Interest Income from conventional

banking had stood at OMR176.0 million in 9M2015 as compared to OMR170.3 million in 9M2014, while net income from Islamic financing was OMR13.7

million in 9M2015 as compared to OMR12.4 million for the same period of 2014. Non-interest income at OMR 112.9 million was higher by 8.4% as

compared to OMR104.1 million for 9M2014. Net loans & advances from the conventional operation had increased by 8.7% to OMR6.57 billion as against

OMR6.04 billion at the end of September 30, 2014. Customer deposits, including CDs from the conventional operations, had increased by 6.7% to

OMR6.78 billion in 9M2015 as against OMR6.35 billion in 9M2014. (MSM)

Moody's upgrades Banglalink's ratings to Ba3; outlook stable

Moody's Investors Service has upgraded Banglalink Digital Communications Limited's corporate family rating and senior unsecured rating to Ba3 from B1.

At the same time, Moody's has maintained the company's stable ratings outlook. "The ratings upgrade reflects improvements in Banglalink's leverage and

cash flows as operational performance has been solid, while profitability has improved and capex has moderated as the company's 3G network has largely

been completed," says Gloria Tsuen, a Moody's Vice President and Senior Analyst. "We assume spectrum auctions will occur next year and that, as a

result, Banglalink will need financing. However, even after factoring in that consideration, the company's leverage and cash flows will be well within the

new ratings range," adds Tsuen. Banglalink's revenue growth averaged 8% per year from 2010 to 2014, while its adjusted EBITDA margins improved to

43% from 30%. Such margins are strong for the Ba3 ratings, although in line with other mobile operators in high-growth emerging markets, such as

Pakistan Mobile Communications Limited (B1 stable) in Pakistan (B3 stable). Moody's expects revenue growth to remain in the high-single digits over the

next 12-18 months, supported by subscriber growth and fast-growing 3G data services, fuelled by more affordable handsets and rising smartphone

penetration. (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 0.193 -0.004 -0.113 0.000 0.579 0.000

2 Year 100.023 0.615 0.012 -0.403 3-Month 0.321 0.000 -0.049 0.000 0.833 0.000

5- Year 100.117 1.351 0.020 -0.328 6-Month 0.526 -0.002 0.027 -0.001 0.986 0.009

10-Year 99.688 2.036 0.086 -0.882 12-Month 0.840 -0.005 0.139 0.000 1.193 0.006

30-Year 100.063 2.873 0.258 -1.216 Source: Bloomberg

2 Year 100.500 -0.260 0.010 -0.555

5- Year 101.390 -0.028 0.064 -1.303 USD EUR AED

10-Year 104.180 0.563 0.228 -2.442 Last 1d Chg Last 1d Chg Last 1d Chg

30-Year 129.560 1.326 0.547 -2.404 2-Year 0.727 -0.006 0.048 -0.006 1.530 0.012

5-Year 1.382 -0.007 0.334 -0.014 2.383 -0.004

10-Year 2.004 -0.011 0.943 -0.022 3.621 -0.013

2 Year 100.870 0.538 0.050 -2.703 30-Year 2.530 -0.014 1.520 -0.024 N/A N/A

5- Year 103.845 1.169 0.125 -0.328 Source: Bloomberg

10-Year 101.835 1.797 0.276 -0.882

30-Year 119.405 2.554 0.491 -1.216

Source: Bloomberg

Last Change

YTD (%)

S&P 500 2,003.69 -2.68

Change Change Dow Jones Industrial Avg 17,081.89 -4.16

Spread Day YTD Nasdaq 4,796.61 1.28

iTraxx Europe 79.026 0.422 16.163 Nikkei 17,891.00 2.52

iTraxx Europe Crossover 328.010 3.944 -17.604 Shanghai 3,262.63 0.86

CDX North America IG 83.375 2.138 17.255 Indian BSE 26,846.53 -3.73

CDX North America HY 456.631 11.514 99.677 Eurostoxx 3,221.28 2.61

iTraxx SovX Western Europe 20.570 0.000 -6.710 DFM General Index 3,705.20 -1.82

iTraxx SovX CEEMEA 174.195 0.000 -141.225 ADX General Index 4,549.96 0.46

iTraxx Europe Senior Financial 78.755 0.192 11.319 Qatar Exchange Index 11,830.02 -3.71

iTraxx Europe Sub Financial 164.740 0.819 15.874 TASI 7,776.74 -6.68

Source: Bloomberg Source: Bloomberg

Change Change Last Change Change

bps Spread Day YTD Day YTD (%)

Emirate of Abu Dhabi 5Y 73.500 1.000 11.500 Spot Gold 1,173.94 -0.88

Emirate of Dubai 5Y 193.000 3.000 -37.000 Spot Silver 16.01 1.92

Kingdom of Bahrain 5Y 320.000 5.000 65.000 WTI Crude 46.65 -12.43

State of Qatar CDS 5Y 62.040 -0.607 -4.188 Brent Crude 49.16 -14.25

Kingdom of Saudi Arabia 5Y 128.000 3.000 63.000 Nymex Nat Gas 2.49 -13.81

Lebanese Republic 5Y 410.000 0.000 15.000 LME Copper 5,273.00 -16.30

Republic of Turkey 5Y 285.000 1.000 105.000 Source: Bloomberg

Arab Republic of Egypt 5Y 350.000 1.000 70.000

Source: Bloomberg

Last (NAV) Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.59019 0.51% 3.02%

Makaseb Income Fund 13.02300 0.57% 2.34%

Makaseb Arab Tigers Fund 14.11687 1.06% -14.37%

Source: Bloomberg

KEY GOVERNMENT BONDS INTERBANK RATES

US TREASURIES

GERMAN BUNDS SWAPS

-343.74

-30.60

-24.86

UK GILTS


-26.05

EQUITY

Change

KEY CDS INDICES Day

-13.77

-49.97

bps -42.03

-6.89

-14.39

-7.69

-39.97

CDS COMMODITIES

-0.01

-42.00

MUTUAL FUNDS

5.10

0.10

-0.01

-0.08

Fixed Income Trading

October 14, 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 Min. Size

ABBVIE INC US00287YAL39 6-Nov-2022 3071 FIXED 2.90 98.09 98.09 3.20 A/Baa1/- UNITED STATES Sr Unsecured 2,000

ABBVIE INC US00287YAQ26 14-May-2025 3750 FIXED 3.60 99.30 99.30 3.69 A/Baa1/- UNITED STATES Sr Unsecured 2,000

AIRBUS GROUP FINANCE BV USN2823BBD21 17-Apr-2023 1000 FIXED 2.70 98.34 98.34 2.95 A/A2/A- FRANCE Sr Unsecured 1,000

AMAZON.COM INC US023135AJ58 29-Nov-2022 1250 FIXED 2.50 97.76 97.76 2.85 AA-/Baa1/- UNITED STATES Sr Unsecured 2,000

AMERICAN EXPRESS CO US025816BD05 2-Dec-2022 1266 FIXED 2.65 98.01 98.01 2.96 BBB+/A3/A+ UNITED STATES Sr Unsecured 2,000

ANGLO AMERICAN CAPITAL USG0446NAG90 15-Apr-2021 500 FIXED 4.13 88.50 88.50 6.66 BBB-/Baa2/- UNITED KINGDOM Sr Unsecured 200,000

ANGLO AMERICAN CAPITAL USG03762CH52 27-Sep-2022 600 FIXED 4.13 82.00 82.00 7.50 BBB-/Baa2/BBB UNITED KINGDOM Sr Unsecured 200,000

APPLE INC US037833BG48 13-May-2025 2000 FIXED 3.20 101.76 101.76 2.99 AA+/Aa1/- UNITED STATES Sr Unsecured 2,000

AT&T INC US00206RCM25 30-Jun-2022 2750 FIXED 3.00 99.74 99.74 3.04 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000

AT&T INC US00206RCN08 15-May-2025 5000 FIXED 3.40 98.29 98.29 3.61 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000

BANK OF AMERICA CORP US06051GEU94 11-Jan-2023 4250 FIXED 3.30 101.37 101.37 3.09 A-/Baa1/A UNITED STATES Sr Unsecured 2,000

BANK OF AMERICA CORP US06051GFP90 21-Apr-2025 2500 FIXED 3.95 97.90 97.90 4.22 BBB+/Baa3/A- UNITED STATES Subordinated 2,000

BARCLAYS PLC US06738EAC93 11-Sep-2024 1250 FIXED 4.38 97.90 97.90 4.67 BB+/Baa3/A- UNITED KINGDOM Subordinated 200,000

BARCLAYS PLC US06738EAE59 16-Mar-2025 2000 FIXED 3.65 96.43 96.43 4.11 BBB/Baa3/A UNITED KINGDOM Sr Unsecured 200,000

BARRICK GOLD CORP US067901AQ17 1-May-2023 1498 FIXED 4.10 92.58 92.58 5.31 BBB-/Baa3/- CANADA Sr Unsecured 2,000

BHP BILLITON FIN USA LTD US055451AQ16 24-Feb-2022 1000 FIXED 2.88 98.79 99.61 2.94 A+/A1/A+ AUSTRALIA Sr Unsecured 2,000

BOSTON PROPERTIES LP US10112RAV69 1-Sep-2023 500 FIXED 3.13 97.94 97.94 3.43 A-/Baa2/BBB+ UNITED STATES Sr Unsecured 1,000

BP CAPITAL MARKETS PLC US05565QCD88 10-May-2023 1500 FIXED 2.75 97.21 97.21 3.17 A/A2/- UNITED KINGDOM Sr Unsecured 1,000

BP CAPITAL MARKETS PLC US05565QDA31 17-Mar-2025 1000 FIXED 3.51 101.24 101.24 3.35 A/A2/- UNITED KINGDOM Sr Unsecured 1,000

BPCE SA US05578UAD63 15-Mar-2025 1250 FIXED 4.50 98.60 98.60 4.69 -/Baa3/A- FRANCE Subordinated 200,000

CITIGROUP INC US172967GT25 15-May-2023 1250 FIXED 3.50 98.00 98.00 3.81 BBB+/Baa3/A- UNITED STATES Subordinated 1,000

CITIGROUP INC US172967JL61 26-Mar-2025 1000 FIXED 3.88 100.04 100.04 3.87 BBB+/Baa3/A- UNITED STATES Subordinated 1,000

CITIGROUP INC US172967JP75 27-Apr-2025 1500 FIXED 3.30 98.02 98.02 3.55 A-/Baa1/A UNITED STATES Sr Unsecured 1,000

CONOCOPHILLIPS COMPANY US20826FAA49 15-Dec-2022 1000 FIXED 2.40 97.11 97.11 2.85 A/A2/A UNITED STATES Sr Unsecured 2,000

CONOCOPHILLIPS COMPANY US20826FAD87 15-Nov-2024 1000 FIXED 3.35 100.02 100.02 3.35 A/A2/A UNITED STATES Sr Unsecured 2,000

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 250,000

CREDIT AGRICOLE SA USF2R125AC99 17-Mar-2025 1500 FIXED 4.38 98.07 98.07 4.63 BBB/Baa3/A- FRANCE Subordinated 200,000

DEUTSCHE BANK AG LONDON US25152RXA66 30-May-2024 1600 FIXED 3.70 99.36 99.36 3.79 BBB+/A3/A GERMANY Sr Unsecured 1,000

DOW CHEMICAL CO/THE US260543CJ01 1-Oct-2024 900 FIXED 3.50 98.74 98.74 3.67 BBB/Baa2/BBB UNITED STATES Sr Unsecured 2,000

FORD MOTOR CREDIT CO LLC US345397XA68 9-Jan-2022 750 FIXED 3.22 99.25 99.25 3.35 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000

FORD MOTOR CREDIT CO LLC US345397WW97 8-Sep-2024 750 FIXED 3.66 98.21 98.21 3.90 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000

FREEPORT-MCMORAN INC US35671DAU90 1-Mar-2022 2000 FIXED 3.55 80.16 80.16 7.53 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000

FREEPORT-MCMORAN OIL&GAS US726505AP50 15-Feb-2023 778 FIXED 6.88 88.31 88.31 9.09 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000

GENERAL MOTORS FINL CO US37045XAW65 10-Apr-2022 1250 FIXED 3.45 96.65 96.65 4.04 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000

GENERAL MOTORS FINL CO US37045XAS53 15-Jan-2025 1000 FIXED 4.00 95.57 95.57 4.59 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000

GLENCORE FINANCE CANADA USC98874AM93 25-Oct-2022 1000 FIXED 4.25 83.45 83.45 7.31 BBB/Baa2/- SWITZERLAND Sr Unsecured 2,000

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


October 14, 2015 USD INVESTMENT GRADE ISSUES (LONG TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


GLENCORE FUNDING LLC XS0938722666 30-May-2023 1500 FIXED 4.13 81.55 81.55 7.33 BBB/Baa2/- SWITZERLAND Sr Unsecured 2,000

GLENCORE FUNDING LLC XS1028955844 29-Apr-2024 1000 FIXED 4.63 83.25 83.25 7.30 BBB/Baa2/- SWITZERLAND Sr Unsecured 2,000

GOLDCORP INC US380956AD47 15-Mar-2023 1000 FIXED 3.70 95.59 95.59 4.40 BBB+/Baa2/BBB CANADA Sr Unsecured 2,000

GOLDMAN SACHS GROUP INC US38148LAC00 23-Jan-2025 2500 FIXED 3.50 100.66 100.66 3.41 A-/A3/A UNITED STATES Sr Unsecured 2,000

JPMORGAN CHASE & CO US46625HJY71 10-Sep-2024 3000 FIXED 3.88 100.06 100.06 3.87 A-/Baa1/A UNITED STATES Subordinated 2,000

JPMORGAN CHASE & CO US46625HKC33 23-Jan-2025 2500 FIXED 3.13 97.36 97.36 3.46 A/A3/A+ UNITED STATES Sr Unsecured 2,000

LLOYDS BANK PLC US53944VAH24 14-May-2025 1250 FIXED 3.50 100.34 100.34 3.46 A/A1/A+ UNITED KINGDOM Sr Unsecured 200,000

LOCKHEED MARTIN CORP US539830BE89 1-Mar-2025 750 FIXED 2.90 98.05 98.05 3.14 A- /*-/Baa1/A- /*- UNITED STATES Sr Unsecured 2,000

MARATHON OIL CORP US565849AK29 1-Nov-2022 1000 FIXED 2.80 89.56 89.56 4.55 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured 1,000

MARATHON OIL CORP US565849AL02 1-Jun-2025 900 FIXED 3.85 91.98 91.98 4.91 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured 1,000

MARATHON PETROLEUM CORP US56585AAG76 15-Sep-2024 750 FIXED 3.63 98.43 98.43 3.83 BBB/Baa2/BBB UNITED STATES Sr Unsecured 2,000

MCDONALD'S CORP US58013MEU45 26-May-2025 700 FIXED 3.38 102.79 102.79 3.03 A-/A3/BBB+ UNITED STATES Sr Unsecured 1,000

MERCK & CO INC US58933YAR62 10-Feb-2025 2500 FIXED 2.75 98.87 98.87 2.89 AA/A2/A UNITED STATES Sr Unsecured 2,000

MONSANTO CO US61166WAU53 15-Jul-2024 750 FIXED 3.38 96.12 96.12 3.90 BBB+/A3/A- UNITED STATES Sr Unsecured 2,000

MOTOROLA SOLUTIONS INC US620076BB42 15-May-2022 750 FIXED 3.75 94.11 94.11 4.81 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000

OCCIDENTAL PETROLEUM COR US674599CG82 15-Jun-2025 750 FIXED 3.50 101.18 101.18 3.35 A/A2/A UNITED STATES Sr Unsecured 2,000

OCEANEERING INTL INC US675232AA07 15-Nov-2024 500 FIXED 4.65 95.99 95.99 5.21 BBB/Baa2/- UNITED STATES Sr Unsecured 2,000

RABOBANK NEDERLAND NY US21688AAE29 21-May-2025 1000 FIXED 3.38 99.03 99.03 3.50 A+/Aa2/AA- NETHERLANDS Sr Unsecured 250,000

RABOBANK NEDERLAND NY US21688AAE29 21-May-2025 1000 FIXED 3.38 99.03 99.03 3.50 A+/Aa2/AA- NETHERLANDS Sr Unsecured 250,000

RIO TINTO FIN USA LTD US767201AS58 15-Jun-2025 1200 FIXED 3.75 98.90 99.81 3.77 A-/A3/- UNITED KINGDOM Sr Unsecured 2,000

RIO TINTO FIN USA PLC US76720AAF30 21-Aug-2022 1000 FIXED 2.88 98.59 98.59 3.11 A-/A3/A- UNITED KINGDOM Sr Unsecured 2,000

SHELL INTERNATIONAL FIN US822582BD31 11-May-2025 2750 FIXED 3.25 100.66 100.66 3.17 AA-/Aa1/- NETHERLANDS Sr Unsecured 1,000

SIEMENS FINANCIERINGSMAT USN82008AE85 27-May-2025 1500 FIXED 3.25 101.60 101.60 3.06 A+/A1/A GERMANY Sr Unsecured 250,000

SOCIETE GENERALE USF8586CH211 14-Apr-2025 1500 FIXED 4.25 97.25 97.25 4.61 BBB/Baa3/A- FRANCE Subordinated 200,000

STANDARD CHARTERED PLC XS1219971774 17-Apr-2025 750 FIXED 3.20 92.88 92.88 4.11 A-/Aa3/AA- UNITED KINGDOM Sr Unsecured 200,000

STATOIL ASA US85771PAG72 17-Jan-2023 1100 FIXED 2.45 96.63 96.63 2.97 AA-/Aa2/- NORWAY Sr Unsecured 1,000

TIME WARNER INC US887317AW59 15-Jul-2025 1500 FIXED 3.60 99.34 99.34 3.68 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured 2,000

TOTAL CAPITAL CANADA LTD US89153UAF84 15-Jul-2023 1000 FIXED 2.75 97.40 97.40 3.13 AA-/Aa1/AA- FRANCE Sr Unsecured 2,000

VALERO ENERGY CORP US91913YAS90 15-Mar-2025 600 FIXED 3.65 98.99 98.99 3.78 BBB/Baa2/BBB UNITED STATES Sr Unsecured 2,000

VERIZON COMMUNICATIONS US92343VCR33 1-Nov-2024 2500 FIXED 3.50 99.90 99.90 3.51 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000

VIACOM INC US92553PAT93 1-Sep-2023 1250 FIXED 4.25 100.90 100.90 4.11 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured 2,000

VODAFONE GROUP PLC US92857WAZ32 26-Sep-2022 1000 FIXED 2.50 93.96 93.96 3.49 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured 1,000

WELLS FARGO & COMPANY US94974BGH78 19-Feb-2025 2500 FIXED 3.00 99.01 99.01 3.12 A+/A2/AA- UNITED STATES Sr Unsecured 1,000



October 14, 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 2.38 100.88 100.88 2.16 A/A1/A UNITED KINGDOM Sr Unsecured 1,000

ABBVIE INC US00287YAT64 14-May-2020 3750 FIXED 2.50 100.11 100.11 2.47 A/Baa1/- UNITED STATES Sr Unsecured 2,000

ABN AMRO BANK NV XS1241945473 4-Jun-2020 1000 FIXED 2.45 100.88 101.24 2.17 A/A2/A NETHERLANDS Sr Unsecured 200,000

AMERICAN EXPRESS CREDIT US0258M0DT32 26-May-2020 1750 FIXED 2.38 100.37 100.37 2.29 A-/A2/A+ UNITED STATES Sr Unsecured 2,000

ANGLO AMERICAN CAPITAL USG0446NAH73 14-May-2020 850 FIXED 3.63 90.50 90.50 6.03 BBB-/Baa2/- UNITED KINGDOM Sr Unsecured 200,000

APPLE INC US037833BD17 6-May-2020 1250 FIXED 2.00 100.99 100.99 1.77 AA+/Aa1/- UNITED STATES Sr Unsecured 2,000

ASTRAZENECA PLC US046353AF58 18-Sep-2019 1000 FIXED 1.95 101.22 101.22 1.63 A+/A2/A+ UNITED KINGDOM Sr Unsecured 2,000

AT&T INC US00206RCL42 30-Jun-2020 3000 FIXED 2.45 99.22 99.22 2.63 BBB+/Baa1/A- UNITED STATES Sr Unsecured 2,000

BANK OF AMERICA CORP US06051GFN43 21-Apr-2020 2000 FIXED 2.25 98.93 98.93 2.50 A-/Baa1/A UNITED STATES Sr Unsecured 2,000

BANK OF AMERICA NA US06050TMC35 5-Jun-2018 1750 FIXED 1.75 100.08 100.08 1.72 A/A1/A+ UNITED STATES Sr Unsecured 250,000

BANK OF NY MELLON CORP US06406HCZ01 24-Feb-2020 1250 FIXED 2.15 100.50 100.50 2.03 A+/A1/AA- UNITED STATES Sr Unsecured 1,000

BARCLAYS PLC US06738EAG08 8-Jun-2020 1000 FIXED 2.88 100.45 100.45 2.77 BBB/Baa3/A UNITED KINGDOM Sr Unsecured 200,000

BNP PARIBAS US05579TED46 21-May-2020 1500 FIXED 2.38 100.48 100.48 2.26 A+/A1/A+ FRANCE Sr Unsecured 200,000

BP CAPITAL MARKETS PLC US05565QCX43 13-Feb-2020 1250 FIXED 2.32 100.61 100.61 2.17 A/A2/- UNITED KINGDOM Sr Unsecured 1,000

BPCE SA US05578DAR35 27-Jan-2020 750 FIXED 2.25 100.44 100.44 2.14 A/A2/A FRANCE Sr Unsecured 250,000

CATERPILLAR FINANCIAL SE US14912L6J50 5-Mar-2020 500 FIXED 2.00 99.67 99.67 2.08 A/A2/A UNITED STATES Sr Unsecured 1,000

CHEVRON CORP US166764AR12 3-Mar-2020 1750 FIXED 1.96 99.98 99.98 1.97 AA/Aa1/- UNITED STATES Sr Unsecured 2,000

CITIGROUP INC US172967JN28 27-Apr-2018 2500 FIXED 1.70 99.70 99.70 1.82 A-/Baa1/A UNITED STATES Sr Unsecured 1,000

CONOCOPHILLIPS COMPANY US20826FAJ57 15-May-2020 500 FIXED 2.20 100.35 100.35 2.12 A/A2/A UNITED STATES Sr Unsecured 2,000

CRED SUIS GP FUN LTD USG25417AB52 26-Mar-2020 1500 FIXED 2.75 99.98 99.98 2.75 BBB+/Baa2/A SWITZERLAND Sr Unsecured 250,000

CREDIT SUISSE NEW YORK US22546QAV95 27-Apr-2018 2750 FIXED 1.70 99.82 99.82 1.78 A/A1/A SWITZERLAND Sr Unsecured 250,000

DAIMLER FINANCE NA LLC USU2339CCA46 3-Aug-2018 1000 FIXED 2.00 99.65 99.65 2.13 A-/A3/A- GERMANY Sr Unsecured 150,000

DAIMLER FINANCE NA LLC USU2339CAZ15 31-Jul-2019 750 FIXED 2.25 98.65 98.65 2.63 A-/A3/A- GERMANY Sr Unsecured 150,000

DAIMLER FINANCE NA LLC USU2339CBW74 18-May-2020 1300 FIXED 2.45 98.00 98.00 2.92 A-/A3/A- GERMANY Sr Unsecured 150,000

DEUTSCHE BANK AG LONDON US25152RYD96 13-Feb-2018 2000 FIXED 1.88 100.12 100.12 1.82 BBB+/A3/A GERMANY Sr Unsecured 1,000

EXXON MOBIL CORPORATION US30231GAG73 6-Mar-2020 1500 FIXED 1.91 100.25 100.25 1.85 AAA/Aaa/- UNITED STATES Sr Unsecured 2,000

FORD MOTOR CREDIT CO LLC US345397XH12 15-Jun-2018 1000 FIXED 2.24 99.63 99.63 2.39 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000

FORD MOTOR CREDIT CO LLC US345397WY53 4-Nov-2019 1250 FIXED 2.60 99.08 99.08 2.84 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured 200,000

FREEPORT-MCMORAN INC US35671DBD66 15-Mar-2018 1500 FIXED 2.38 92.70 92.70 5.66 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000

FREEPORT-MCMORAN INC US35671DBG97 15-Mar-2020 998 FIXED 3.10 86.25 86.25 6.76 BBB-/Baa3/BBB UNITED STATES Sr Unsecured 2,000

GENERAL MOTORS FINL CO US37045XAV82 10-Apr-2018 850 FIXED 2.40 99.56 99.56 2.58 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000

GENERAL MOTORS FINL CO US37045XAY22 13-Jul-2020 1500 FIXED 3.20 98.81 98.81 3.47 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured 2,000


GLENCORE FUNDING LLC XS0938722401 15-Jan-2019 1500 FIXED 2.50 84.29 84.29 8.10 BBB/Baa2/- SWITZERLAND Sr Unsecured 2,000


GOLDCORP INC US380956AC63 15-Mar-2018 500 FIXED 2.13 100.75 100.75 1.80 BBB+/Baa2/BBB CANADA Sr Unsecured 2,000



October 14, 2015 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


GOLDMAN SACHS GROUP INC US38148LAA44 23-Apr-2020 1700 FIXED 2.60 101.10 101.10 2.34 A-/A3/A UNITED STATES Sr Unsecured 2,000

HSBC USA INC US40434CAC91 23-Jun-2019 750 FIXED 2.25 100.21 100.21 2.19 A/A2/AA- UNITED STATES Sr Unsecured 100,000

HSBC USA INC US40428HPR74 5-Mar-2020 1750 FIXED 2.35 99.33 99.33 2.51 A/A2/AA- UNITED STATES Sr Unsecured 100,000

IBM CORP US459200HM60 15-May-2020 1250 FIXED 1.63 99.45 99.45 1.75 AA-/Aa3/A+ UNITED STATES Sr Unsecured 100,000

IMPERIAL TOBACCO FINANCE USG4721VNR17 20-Jul-2018 500 FIXED 2.05 99.88 99.88 2.10 BBB/Baa3/- UNITED KINGDOM Sr Unsecured 200,000

IMPERIAL TOBACCO FINANCE USG4721VNS99 21-Jul-2020 1250 FIXED 2.95 101.02 101.02 2.72 BBB/Baa3/- UNITED KINGDOM Sr Unsecured 200,000

JPMORGAN CHASE & CO US48127HAA77 22-Oct-2019 2000 FIXED 2.20 100.32 100.32 2.12 A/A3/A+ UNITED STATES Sr Unsecured 2,000

JPMORGAN CHASE & CO US46625HKA76 23-Jan-2020 3750 FIXED 2.25 99.42 99.42 2.39 A/A3/A+ UNITED STATES Sr Unsecured 2,000

LLOYDS BANK PLC US53944VAE92 17-Mar-2020 1000 FIXED 2.40 100.35 100.35 2.32 A/A1/A+ UNITED KINGDOM Sr Unsecured 200,000

MACQUARIE BANK LTD US55608RAM25 21-Jan-2020 750 FIXED 2.40 99.85 100.25 2.34 A/A2/A AUSTRALIA Sr Unsecured 2,000

MARATHON OIL CORP US565849AN67 1-Jun-2020 600 FIXED 2.70 97.86 97.86 3.20 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured 1,000

MCDONALD'S CORP US58013MET71 26-May-2020 700 FIXED 2.20 99.98 99.98 2.20 A-/A3/BBB+ UNITED STATES Sr Unsecured 1,000

MERCK & CO INC US58933YAS46 10-Feb-2020 1250 FIXED 1.85 100.30 100.30 1.78 AA/A2/A UNITED STATES Sr Unsecured 2,000

MONSANTO CO US61166WAS08 15-Jul-2019 500 FIXED 2.13 101.54 101.54 1.70 BBB+/A3/A- UNITED STATES Sr Unsecured 2,000

MUFG AMERICAS HLDGS CORP US553794AB47 10-Feb-2020 1000 FIXED 2.25 99.87 99.87 2.28 A/A3/A UNITED STATES Sr Unsecured 2,000

MUFG UNION BANK NA US90520EAF88 6-May-2019 500 FIXED 2.25 100.95 100.95 1.97 A+/A2/A UNITED STATES Sr Unsecured 250,000

PEPSICO INC US713448CS53 30-Apr-2020 750 FIXED 1.85 99.81 99.81 1.90 A/A1/A UNITED STATES Sr Unsecured 2,000

RABOBANK NEDERLAND NY US21688AAD46 14-Jan-2020 1000 FIXED 2.25 100.51 100.51 2.12 A+/Aa2/- NETHERLANDS Sr Unsecured 250,000

ROYAL BANK OF CANADA US780082AA14 5-Feb-2020 2000 FIXED 1.88 99.90 99.90 1.90 -/Aaa/AAA CANADA Secured 1,000

SANTANDER BANK NA US80280JDB44 12-Jan-2018 750 FIXED 2.00 99.45 99.45 2.25 BBB+/Baa2/- UNITED STATES Sr Unsecured 250,000

SANTANDER HOLDINGS USA US80282KAD81 17-Apr-2020 1000 FIXED 2.65 98.69 98.69 2.96 BBB+/Baa2/- UNITED STATES Sr Unsecured 2,000

SHELL INTERNATIONAL FIN US822582BG61 11-May-2020 2000 FIXED 2.13 100.42 100.42 2.03 AA-/Aa1/- NETHERLANDS Sr Unsecured 1,000

SIEMENS FINANCIERINGSMAT DE000A1G0WD5 16-Aug-2019 1500 FIXED 1.65 98.65 99.44 1.80 A+/A1/A GERMANY Sr Unsecured 250,000

SIEMENS FINANCIERINGSMAT USN82008AC20 27-May-2020 1000 FIXED 2.15 100.24 100.24 2.09 A+/A1/A GERMANY Sr Unsecured 250,000

STANDARD CHARTERED PLC XS1219971931 17-Apr-2020 1250 FIXED 2.25 97.34 97.34 2.88 A-/Aa3/AA- UNITED KINGDOM Sr Unsecured 200,000

UBS AG STAMFORD CT US90261XHK19 26-Mar-2020 1500 FIXED 2.35 100.16 100.16 2.31 A/A2 /*+/A SWITZERLAND Sr Unsecured 250,000

VODAFONE GROUP PLC US92857WBE93 19-Feb-2018 1400 FIXED 1.50 99.38 99.38 1.77 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured 1,000

VOLKSWAGEN GROUP AMERICA USU9273AAM72 22-May-2020 750 FIXED 2.40 94.13 94.13 3.81 A- /*-/A2/- GERMANY Sr Unsecured 200,000

WELLS FARGO & COMPANY US94974BFU98 22-Apr-2019 1750 FIXED 2.13 100.76 100.76 1.90 A+/A2/AA- UNITED STATES Sr Unsecured 1,000

WELLS FARGO & COMPANY US94974BGF13 30-Jan-2020 2000 FIXED 2.15 100.12 100.12 2.12 A+/A2/AA- UNITED STATES Sr Unsecured 1,000



October 14, 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 200,000

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 200,000

ABU DHABI NATIONAL ENERG XS1017435352 6-May-2024 750 FIXED 3.88 99.10 99.76 3.91 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000

ADCB FINANCE CAYMAN LTD XS0897453907 6-Mar-2018 750 FIXED 2.50 100.63 101.21 1.98 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

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 200,000

ADCB FINANCE CAYMAN LTD XS1110651012 16-Sep-2019 600 FIXED 2.75 100.51 101.12 2.45 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

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 200,000

ADCB FINANCE CAYMAN LTD XS0897453493 6-Mar-2023 750 FIXED 4.50 101.70 101.70 4.23 A-/NR/A UNITED ARAB EMIRATES Subordinated 200,000

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 200,000

BANK MUSCAT SAOG XS0908549685 26-Mar-2018 500 FIXED 2.50 99.86 100.54 2.27 A-/A1/BBB+ OMAN Sr Unsecured 200,000

BATELCO INT FIN NO 1 LTD XS0927183441 1-May-2020 519 FIXED 4.25 98.28 98.28 4.67 BB+/-/BBB- BAHRAIN Sr Unsecured 200,000

BOS FUNDING LTD XS1117297272 8-Jun-2020 500 FIXED 3.37 96.99 97.56 3.95 -/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured 200,000

CBQ FINANCE LTD XS0771860003 11-Apr-2017 500 FIXED 3.38 102.51 102.97 1.35 A-/A1/- QATAR Sr Unsecured 200,000

CBQ FINANCE LTD XS1079720212 24-Jun-2019 750 FIXED 2.88 101.83 102.43 2.19 A-/A1/- QATAR Sr Unsecured 200,000

COMMERCIAL BANK OF DUBAI XS0933999863 21-May-2018 500 FIXED 3.38 101.45 102.06 2.55 -/Baa1/A- UNITED ARAB EMIRATES Sr Unsecured 200,000

DEWA SUKUK 2013 LTD XS0897680558 5-Mar-2018 1000 FIXED 3.00 102.46 103.00 1.71 BBB/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000

DIB SUKUK LTD XS1241110300 3-Jun-2020 750 FIXED 2.92 100.11 100.75 2.75 -/Baa1/A UNITED ARAB EMIRATES Sr Unsecured 200,000

DIFC SUKUK XS1120403313 12-Nov-2024 700 FIXED 4.33 100.12 100.76 4.22 BBB-/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000

DP WORLD LTD XS1234270921 18-May-2020 500 FIXED 3.25 100.25 100.81 3.06 -/Baa3/BBB- UNITED ARAB EMIRATES Sr Unsecured 200,000

EMG SUKUK LTD XS1075401726 18-Jun-2024 750 FIXED 4.56 102.79 102.79 4.18 BBB-/Baa2/- UNITED ARAB EMIRATES Sr Unsecured 200,000

EMIRATES AIRLINES XS0885065887 6-Feb-2025 679 FIXED 4.50 101.35 101.35 4.18 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000

EMIRATES NBD PJSC XS0765257141 28-Mar-2017 1000 FIXED 4.63 103.50 103.50 2.16 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

EMIRATES NBD PJSC XS0632908314 31-May-2018 332 FLOATING 1.83 99.51 100.64 1.58 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

EMIRATES NBD PJSC XS1138457590 19-Nov-2019 1000 FIXED 3.25 101.40 102.05 2.72 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

EMIRATES NBD PJSC XS1227814883 6-May-2020 350 FIXED 3.00 100.53 101.19 2.72 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

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 200,000

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 200,000

FGB SUKUK COMPANY LTD XS0731930797 18-Jan-2017 500 FIXED 4.05 102.88 103.41 1.30 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

FIRST GULF BANK XS0840538994 9-Oct-2017 650 FIXED 2.86 101.78 102.36 1.64 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

FIRST GULF BANK XS0992167865 14-Jan-2019 500 FIXED 3.25 102.78 103.36 2.17 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

FIRST GULF BANK XS1193304596 24-Feb-2020 750 FIXED 2.63 100.09 100.72 2.45 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

HSBC BNK MIDDLE EAST LTD XS1114125534 1-Oct-2019 400 FIXED 2.75 100.90 101.54 2.34 -/A2/AA- UNITED ARAB EMIRATES Sr Unsecured 200,000

ICD FUNDING LTD XS1069870415 21-May-2024 300 FIXED 4.63 99.08 99.95 4.63 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000

ICD SUKUK CO LTD XS1069869839 21-May-2020 700 FIXED 3.51 99.44 100.18 3.46 -/-/- UNITED ARAB EMIRATES Sr Unsecured 200,000

KINGDOM OF BAHRAIN XS1110833123 19-Sep-2044 1250 FIXED 6.00 84.54 85.49 7.20 BBB-/-/BBB- BAHRAIN Unsecured 200,000

MAF GLOBAL SECURITIES XS1064799841 7-May-2024 500 FIXED 4.75 103.13 103.13 4.31 BBB/-/BBB UNITED ARAB EMIRATES Sr Unsecured 200,000



October 14, 2015 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


MASHREQBANK PSC XS0283928264 24-Jan-2017 354 FLOATING 1.42 96.88 98.48 2.65 BBB/Ba2/A- UNITED ARAB EMIRATES Subordinated 100,000

MDC-GMTN B.V. XS1062852253 28-Apr-2022 750 FIXED 3.25 102.40 102.40 2.84 AA/Aa2/AA UNITED ARAB EMIRATES Sr Unsecured 200,000

MUBADALA GE CAPITAL LTD XS1198082437 10-Nov-2019 500 FIXED 3.00 99.54 100.25 2.93 -/Baa2/A UNITED ARAB EMIRATES Sr Unsecured 200,000

MUMTALAKAT SUKUK HOLDING XS1143085014 25-Nov-2021 600 FIXED 4.00 98.94 99.79 4.04 BBB-/-/BBB- BAHRAIN Sr Unsecured 200,000

NATIONAL BANK OF OMAN XS1117537172 7-Oct-2019 500 FIXED 3.13 101.58 102.28 2.52 -/A3/- OMAN Sr Unsecured 200,000

NATIONAL BK OF ABU DHABI XS0763531406 27-Mar-2017 750 FIXED 3.25 102.36 102.82 1.28 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured 200,000

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 200,000

NATIONAL BK OF ABU DHABI XS1186986904 11-Feb-2020 750 FIXED 2.25 99.64 100.32 2.17 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured 200,000

OOREDOO INTERNATIONAL FI XS0866438475 21-Feb-2023 1000 FIXED 3.25 97.75 97.75 3.60 A-/A2/A+ QATAR Sr Unsecured 200,000

OOREDOO INTERNATIONAL FI XS0880134258 31-Jan-2028 500 FIXED 3.88 96.45 96.45 4.25 A-/A2/A+ QATAR Sr Unsecured 200,000

OOREDOO INTERNATIONAL FI XS0881740384 31-Jan-2043 500 FIXED 4.50 99.00 99.00 4.56 A-/A2/A+ QATAR Sr Unsecured 200,000

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 102.85 103.38 1.92 A-/A2/A+ QATAR Sr Unsecured 200,000

QNB FINANCE LTD XS0748305017 22-Feb-2017 1000 FIXED 3.38 103.00 103.00 1.13 A+/Aa3/AA- QATAR Sr Unsecured 200,000

QNB FINANCE LTD XS0854469599 14-Feb-2018 1000 FIXED 2.13 100.50 100.50 1.90 A+/Aa3/AA- QATAR Sr Unsecured 200,000

QNB FINANCE LTD XS0987063566 31-Oct-2018 750 FIXED 2.75 101.65 102.14 2.02 A+/Aa3/AA- QATAR Sr Unsecured 200,000

QNB FINANCE LTD XS0923450414 29-Apr-2020 1000 FIXED 2.88 101.79 101.79 2.46 -/Aa3/AA- QATAR Sr Unsecured 200,000

RAK CAPITAL XS0981184541 21-Oct-2018 500 FIXED 3.30 103.63 104.28 1.83 A/-/A UNITED ARAB EMIRATES Sr Unsecured 200,000

RAKFUNDING CAYMAN LTD XS1078355986 24-Jun-2019 800 FIXED 3.25 100.15 100.76 3.03 -/Baa1/BBB+ UNITED ARAB EMIRATES Sr Unsecured 200,000

SABIC CAPITAL II BV XS0971431613 3-Oct-2018 1000 FIXED 2.63 100.76 101.39 2.14 A+/A1/A+ SAUDI ARABIA Sr Unsecured 200,000

SAUDI ELECTRICITY GLOBAL XS0764883806 3-Apr-2017 500 FIXED 2.67 101.54 102.07 1.23 AA-/A1/AA- SAUDI ARABIA Sr Unsecured 200,000



SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 104.51 105.23 3.09 A/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000

SIB SUKUK CO III LTD XS0916902769 16-Apr-2018 500 FIXED 2.95 101.32 101.92 2.16 BBB+/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured 200,000

SIB SUKUK CO III LTD XS1202089428 17-Mar-2020 500 FIXED 2.84 100.04 100.64 2.69 -/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000

SOQ SUKUK A Q.S.C XS0801656256 18-Jan-2018 2000 FIXED 2.10 101.77 101.77 1.30 AA/Aa2/- QATAR Sr Unsecured 200,000


TAQA ABU DHABI NATL ENER XS0717839525 13-Mar-2017 750 FIXED 4.13 103.07 103.64 1.50 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000



October 14, 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 98.47 98.47 3.38 A-/A2/A MEXICO Sr Unsecured 200,000

AMERICA MOVIL SAB DE CV US02364WBE49 16-Jul-2042 1150 FIXED 4.38 93.22 93.22 4.83 A-/A2/A MEXICO Sr Unsecured 200,000

BANCO BTG PACTUAL/CAYMAN US05971BAB53 16-Jan-2020 1000 FIXED 4.00 87.00 87.00 7.64 -/Baa3/BBB- BRAZIL Sr Unsecured 200,000

BANCO DO BRASIL (CAYMAN) US05958AAJ79 10-Oct-2022 1925 FIXED 3.88 84.28 84.28 6.74 BB+/Baa3/BBB BRAZIL Sr Unsecured 200,000

BANCO NAC DE DESEN ECONO USP14486AK37 14-Apr-2019 1000 FIXED 4.00 94.06 94.06 5.91 BB+/Baa3/- BRAZIL Sr Unsecured 200,000

BANCO NAC DE DESEN ECONO USP14486AJ63 26-Sep-2023 1750 FIXED 5.75 93.20 93.20 6.88 BB+/Baa3/BBB BRAZIL Sr Unsecured 200,000

CAIXA ECONOMICA FEDERAL US12803X2C42 3-Oct-2018 1250 FIXED 4.50 96.50 96.50 5.80 BB+/Baa3/BBB BRAZIL Sr Unsecured 150,000

CAIXA ECONOMICA FEDERAL US12803X2D25 13-May-2019 1300 FIXED 4.25 93.88 93.88 6.19 BB+/Baa3/BBB BRAZIL Sr Unsecured 150,000

COMISION FED DE ELECTRIC USP30179AK43 14-Feb-2042 750 FIXED 5.75 94.05 95.77 6.07 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 200,000

ECOPETROL SA US279158AK55 16-Jan-2025 1200 FIXED 4.13 87.22 87.22 5.94 BBB/Baa2/BBB COLOMBIA Sr Unsecured 1,000

ECOPETROL SA US279158AL39 26-Jun-2026 1500 FIXED 5.38 93.00 93.00 6.28 BBB/Baa2/BBB COLOMBIA Sr Unsecured 1,000

ECOPETROL SA US279158AJ82 28-May-2045 2000 FIXED 5.88 82.35 82.35 7.34 BBB/Baa2/BBB COLOMBIA Sr Unsecured 1,000

EMBRAER NETHERLANDS FINA US29082HAA05 15-Jun-2025 1000 FIXED 5.05 97.25 97.25 5.42 BBB/Baa3/- BRAZIL Sr Unsecured 2,000

FED REPUBLIC OF BRAZIL US105756BU30 5-Jan-2023 2150 FIXED 2.63 84.00 84.75 5.19 BB+/Baa3/BBB BRAZIL Sr Unsecured 200,000

FED REPUBLIC OF BRAZIL US105756BV13 7-Jan-2025 4300 FIXED 4.25 89.75 89.75 5.69 BB+/Baa3/BBB BRAZIL Sr Unsecured 200,000

FED REPUBLIC OF BRAZIL US105756BR01 7-Jan-2041 2504 FIXED 5.63 83.30 84.61 6.92 BB+/Baa3/BBB BRAZIL Sr Unsecured 100,000

FED REPUBLIC OF BRAZIL US105756BW95 27-Jan-2045 3550 FIXED 5.00 77.75 77.75 6.75 BB+/Baa3/BBB BRAZIL Sr Unsecured 200,000

FOMENTO ECONOMICO MEX US344419AB20 10-May-2043 700 FIXED 4.38 93.25 93.25 4.82 A-/-/A MEXICO Sr Unsecured 150,000

GERDAU TRADE INC USG3925DAA84 30-Jan-2021 1250 FIXED 5.75 91.38 91.38 7.77 BBB-/NR/BBB- BRAZIL Sr Unsecured 100,000

GERDAU TRADE INC USG3925DAB67 15-Apr-2023 750 FIXED 4.75 80.10 80.10 8.38 BBB-/Baa3/BBB- BRAZIL Sr Unsecured 200,000

GRUPO TELEVISA SAB US40049JBA43 13-May-2045 1000 FIXED 5.00 88.36 88.36 5.83 BBB+/Baa1/BBB+ MEXICO Sr Unsecured 200,000

LUKOIL INTL FINANCE BV XS0919502434 24-Apr-2018 1500 FIXED 3.42 96.80 96.80 4.78 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 200,000

LUKOIL INTL FINANCE BV XS0304274599 7-Jun-2022 500 FIXED 6.66 104.88 104.88 5.76 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 100,000

LUKOIL INTL FINANCE BV XS0919504562 24-Apr-2023 1500 FIXED 4.56 89.10 89.10 6.41 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 200,000

MMC NORILSK NICK VIA MMC XS0982861287 28-Oct-2020 1000 FIXED 5.55 100.40 100.40 5.46 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured 200,000

PETROLEOS MEXICANOS US71654QBG64 30-Jan-2023 2100 FIXED 3.50 93.20 93.20 4.61 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured 10,000

PETROLEOS MEXICANOS US71656MBA62 15-Jan-2025 1000 FIXED 4.25 96.95 96.95 4.66 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured 10,000

PETROLEOS MEXICANOS US71656MBD02 23-Jan-2026 1500 FIXED 4.50 96.48 96.48 4.94 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured 10,000

PETROLEOS MEXICANOS US71656MBE84 23-Jan-2046 3000 FIXED 5.63 87.50 87.50 6.58 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured 10,000

PHILIPPINE GOVERNMENT PHY6972FTP53 4-Jun-2023 500 FIXED 2.75 98.23 99.49 2.82 -/Baa2/- PHILIPPINES Sr Unsecured 10,000

REPUBLIC OF AZERBAIJAN XS1044540547 18-Mar-2024 1250 FIXED 4.75 96.99 97.93 5.05 -/Baa3/BBB- AZERBAIJAN Sr Unsecured 200,000

REPUBLIC OF COLOMBIA USP3772NHK11 15-Mar-2023 1000 FIXED 2.63 91.63 91.63 3.94 BBB/Baa2/BBB COLOMBIA Sr Unsecured 200,000

REPUBLIC OF COLOMBIA US195325BQ70 26-Feb-2024 2100 FIXED 4.00 99.55 99.55 4.06 BBB/Baa2/BBB COLOMBIA Sr Unsecured 200,000

REPUBLIC OF COLOMBIA US195325CU73 15-Jun-2045 2500 FIXED 5.00 91.50 91.50 5.59 BBB/Baa2/BBB COLOMBIA Sr Unsecured 200,000

REPUBLIC OF INDONESIA USY20721BC22 25-Apr-2022 2000 FIXED 3.75 98.47 99.12 3.91 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

REPUBLIC OF INDONESIA USY20721BD05 15-Apr-2023 1500 FIXED 3.38 94.67 95.34 4.10 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000



October 14, 2015 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


REPUBLIC OF INDONESIA USY20721BG36 15-Jan-2025 2000 FIXED 4.13 98.63 99.12 4.24 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

REPUBLIC OF INDONESIA USY20721BB49 17-Jan-2042 2250 FIXED 5.25 95.67 96.46 5.51 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

REPUBLIC OF INDONESIA USY20721BE87 15-Apr-2043 1500 FIXED 4.63 90.03 90.94 5.25 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

REPUBLIC OF INDONESIA USY20721BM04 15-Jan-2045 2000 FIXED 5.13 94.48 95.14 5.46 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

REPUBLIC OF KAZAKHSTAN XS1120709669 14-Oct-2024 1500 FIXED 3.88 93.76 94.56 4.62 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000

REPUBLIC OF KAZAKHSTAN XS1263054519 21-Jul-2025 2500 FIXED 5.13 99.20 99.86 5.14 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000

REPUBLIC OF KAZAKHSTAN XS1120709826 14-Oct-2044 1000 FIXED 4.88 84.13 85.02 5.97 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000

REPUBLIC OF KAZAKHSTAN XS1263139856 21-Jul-2045 1500 FIXED 6.50 100.59 101.46 6.39 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured 200,000

REPUBLIC OF PANAMA US698299BE38 16-Mar-2025 1250 FIXED 3.75 99.83 100.65 3.67 BBB/Baa2/BBB PANAMA Sr Unsecured 200,000

REPUBLIC OF TURKEY US900123CA66 23-Mar-2023 1500 FIXED 3.25 91.89 92.34 4.47 -/Baa3/BBB- TURKEY Sr Unsecured 200,000

REPUBLIC OF TURKEY US900123CJ75 14-Apr-2026 1500 FIXED 4.25 94.41 94.93 4.87 -/Baa3/BBB- TURKEY Sr Unsecured 200,000

REPUBLIC OF TURKEY US900123CB40 16-Apr-2043 3000 FIXED 4.88 88.10 88.60 5.70 -/Baa3/BBB- TURKEY Sr Unsecured 200,000

TRANSPORT DE GAS PERU USP9367RAG67 30-Apr-2028 850 FIXED 4.25 95.25 95.25 4.83 BBB+/Baa1/BBB+ PERU Sr Unsecured 200,000

TURK TELEKOMUNIKASYON AS XS1028952155 19-Jun-2019 500 FIXED 3.75 98.30 98.30 4.25 BBB-/-/BBB- TURKEY Sr Unsecured 200,000

TURK TELEKOMUNIKASYON AS XS1028951264 19-Jun-2024 500 FIXED 4.88 96.50 96.50 5.38 BBB-/-/BBB- TURKEY Sr Unsecured 200,000

UNITED MEXICAN STATES US91087BAA89 30-Jan-2025 3000 FIXED 3.60 100.00 100.00 3.60 BBB+/A3/BBB+ MEXICO Sr Unsecured 200,000

UNITED MEXICAN STATES US91086QBB32 8-Mar-2044 4463 FIXED 4.75 94.25 96.35 4.99 BBB+/A3/BBB+ MEXICO Sr Unsecured 2,000

UNITED MEXICAN STATES US91086QBF46 23-Jan-2046 3000 FIXED 4.60 93.25 93.25 5.04 BBB+/A3/BBB+ MEXICO Sr Unsecured 200,000

VALE OVERSEAS LIMITED US91911TAM53 11-Jan-2022 2250 FIXED 4.38 91.16 91.16 6.10 BBB/Baa2/BBB+ BRAZIL Sr Unsecured 2,000

VALE OVERSEAS LIMITED US91911TAH68 21-Nov-2036 2500 FIXED 6.88 81.53 81.53 8.82 BBB/Baa2/BBB+ BRAZIL Sr Unsecured 2,000

VALE OVERSEAS LIMITED US91911TAK97 10-Nov-2039 1750 FIXED 6.88 83.74 83.74 8.47 BBB/Baa2/BBB+ BRAZIL Sr Unsecured 2,000

VALE SA US91912EAA38 11-Sep-2042 1500 FIXED 5.63 72.75 72.75 8.14 BBB/Baa2/BBB+ BRAZIL Sr Unsecured 2,000

YAPI VE KREDI BANKASI XS0874840688 22-Jan-2020 500 FIXED 4.00 93.52 93.52 5.73 -/Baa3/BBB TURKEY Sr Unsecured 200,000



October 14, 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 99.69 99.69 3.57 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

AE ROTOR HOLDING BV XS0907891047 28-Mar-2018 647 FIXED 4.97 103.75 103.75 3.38 -/Baa3/- INDIA Sr Unsecured 200,000

AXIS BANK/DUBAI US05463EAC21 21-May-2020 750 FIXED 3.25 101.20 101.20 2.97 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

BANK OF INDIA LONDON USY06865AA04 21-Sep-2018 500 FIXED 3.63 102.60 102.60 2.69 BBB-/Baa3/- INDIA Sr Unsecured 200,000

BANK OF INDIA/JERSEY XS1227592703 6-May-2020 750 FIXED 3.13 99.70 100.00 3.13 BBB-/Baa3/- INDIA Sr Unsecured 200,000

BHARAT PETROLEUM CORP XS1227064430 8-May-2025 500 FIXED 4.00 98.03 98.78 4.16 -/Baa3/BBB- INDIA Sr Unsecured 200,000

BHARAT PETROLEUM CORP LT XS0848436365 25-Oct-2022 500 FIXED 4.63 103.11 103.11 4.11 -/Baa3/BBB- INDIA Sr Unsecured 200,000

BHARTI AIRTEL LTD USY0889VAA80 10-Jun-2025 1000 FIXED 4.38 100.13 100.13 4.36 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

EXPORT-IMPORT BK INDIA XS0813393849 7-Aug-2017 500 FIXED 4.00 103.54 103.54 2.00 BBB-/Baa3/- INDIA Sr Unsecured 200,000

EXPORT-IMPORT BK INDIA XS1050464996 2-Oct-2019 500 FIXED 3.88 104.12 104.12 2.77 BBB-/Baa3/- INDIA Sr Unsecured 200,000

EXPORT-IMPORT BK INDIA XS1209864229 1-Apr-2020 500 FIXED 2.75 99.47 99.85 2.79 BBB-/Baa3/- INDIA Sr Unsecured 200,000

EXPORT-IMPORT BK INDIA XS1165130219 12-Aug-2020 500 FIXED 2.75 99.31 99.75 2.80 BBB-/Baa3/- INDIA Sr Unsecured 200,000

EXPORT-IMPORT BK INDIA XS0872917660 14-Jan-2023 750 FIXED 4.00 101.82 101.82 3.71 BBB-/Baa3/- INDIA Sr Unsecured 200,000

HDFC BANK LTD/BAH XS0897434949 6-Mar-2018 500 FIXED 3.00 101.46 101.75 2.24 BBB-/Baa3/- INDIA Sr Unsecured 200,000

ICICI BANK LTD/DUBAI US45112FAG19 18-Mar-2020 700 FIXED 3.50 101.80 101.80 3.06 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

ICICI BANK LTD/DUBAI XS1274011102 12-Aug-2020 500 FIXED 3.13 100.18 100.52 3.01 BBB-/Baa3/- INDIA Sr Unsecured 200,000

IDBI BANK LTD/DIFC DUBAI XS0832492267 26-Mar-2018 500 FIXED 4.38 102.75 102.75 3.20 BB+/Baa3/BBB- INDIA Sr Unsecured 200,000

INDIAN RAILWAY FINANCE C XS0836520717 10-Oct-2017 300 FIXED 3.42 101.98 101.98 2.39 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

INDIAN RAILWAY FINANCE C XS1016035476 26-Feb-2019 500 FIXED 3.92 103.66 104.00 2.66 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

NTPC LTD XS1143390679 26-Nov-2024 500 FIXED 4.38 101.33 101.33 4.20 BBB-/-/BBB- INDIA Sr Unsecured 200,000

OIL INDIA LTD XS1057074871 17-Apr-2019 500 FIXED 3.88 103.14 103.49 2.82 -/Baa2/BBB- INDIA Sr Unsecured 200,000

ONGC VIDESH LTD XS1084957155 15-Jul-2019 750 FIXED 3.25 100.97 100.97 2.98 BBB-/Baa2/- INDIA Sr Unsecured 200,000

ONGC VIDESH LTD XS0922882344 7-May-2023 500 FIXED 3.75 99.01 99.01 3.90 BBB-/Baa2/- INDIA Sr Unsecured 200,000

ONGC VIDESH LTD XS1079848369 15-Jul-2024 750 FIXED 4.63 103.05 103.76 4.11 BBB-/Baa2/- INDIA Sr Unsecured 200,000

POWER GRID CORP OF INDIA XS0875759184 17-Jan-2023 500 FIXED 3.88 99.47 99.47 3.96 BBB-/-/BBB- INDIA Sr Unsecured 200,000

RELIANCE INDUSTRIES LTD USY72596BU56 28-Jan-2025 1000 FIXED 4.13 99.38 99.38 4.21 BBB+/Baa2/- INDIA Sr Unsecured 250,000

RELIANCE INDUSTRIES LTD USY72570AM99 10-Feb-2045 750 FIXED 4.88 91.00 91.00 5.50 BBB+/Baa2/- INDIA Sr Unsecured 250,000

STATE BANK INDIA/LONDON USU85528AB04 1-Aug-2017 1250 FIXED 4.13 103.29 103.29 2.23 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

STATE BANK INDIA/LONDON USY81636AC94 18-Apr-2018 1000 FIXED 3.25 102.05 102.05 2.40 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

STATE BANK INDIA/LONDON USY81647AA02 17-Apr-2019 750 FIXED 3.62 102.88 102.88 2.75 BBB-/Baa3/BBB- INDIA Sr Unsecured 200,000

SYNDICATE BANK XS0841358103 12-Apr-2018 500 FIXED 4.13 102.99 103.31 2.74 BBB-/Baa3/- INDIA Sr Unsecured 200,000

SYNDICATE BANK/LONDON XS1073127901 4-Dec-2019 400 FIXED 3.88 102.68 103.08 3.07 BBB-/Baa3/- INDIA Sr Unsecured 200,000

UNION BANK OF INDIA HK XS0819566182 22-Aug-2017 350 FIXED 4.63 103.89 103.89 2.46 BBB-/Baa3/- INDIA Sr Unsecured 200,000

UNION BANK OF INDIA HK XS0923436264 25-Oct-2018 350 FIXED 3.63 102.12 102.57 2.74 BBB-/Baa3/- INDIA Sr Unsecured 200,000



October 14, 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 1.51 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured 200,000

EMG SUKUK LTD XS1075401726 18-Jun-2024 750 FIXED 4.56 102.79 102.79 4.18 BBB-/Baa2/- UNITED ARAB EMIRATES Sr Unsecured 200,000

EMAAR SUKUK LTD XS0805885349 18-Jul-2019 500 FIXED 6.40 112.17 112.17 2.95 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured 200,000

EMAAR SUKUK LTD XS0586840588 3-Aug-2016 500 FIXED 8.50 105.52 106.04 0.88 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured 200,000

HONG KONG SUKUK USY35527AA11 18-Sep-2019 1000 FIXED 2.01 100.74 101.21 1.68 AAA/Aa1/- HONG KONG Unsecured 200,000

HONG KONG SUKUK 2015 LTD XS1226268735 3-Jun-2020 1000 FIXED 1.89 100.00 100.46 1.79 AAA/Aa1/- HONG KONG Sr Unsecured 200,000

IDB TRUST SERVICES LTD XS0939694138 4-Jun-2018 1000 FIXED 1.54 100.68 101.01 1.15 AAA/Aaa/AAA SUPRANATIONAL Sr Unsecured 200,000

MALAYSIA SOVEREIGN SUKUK USY5749LAA99 22-Apr-2025 1000 FIXED 3.04 96.25 96.82 3.44 A-/A3/- MALAYSIA Unsecured 200,000

MALAYSIA SOVEREIGN SUKUK USY5749LAB72 22-Apr-2045 500 FIXED 4.24 93.06 94.37 4.59 A-/A3/- MALAYSIA Unsecured 200,000

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 102.85 103.38 1.92 A-/A2/A+ QATAR Sr Unsecured 200,000

ISLAMIC REP OF PAKISTAN XS1147732553 3-Dec-2019 1000 FIXED 6.75 103.35 104.24 5.58 B-/B3/- PAKISTAN Sr Unsecured 200,000

PERUSAHAAN PENERBIT SBSN USY68616AA22 21-Nov-2018 1000 FIXED 4.00 104.30 104.76 2.39 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

PERUSAHAAN PENERBIT SBSN US71567RAC07 10-Sep-2024 1500 FIXED 4.35 97.25 97.25 4.73 -/Baa3/BBB- INDONESIA Sr Unsecured 200,000

PERUSAHAAN PENERBIT SBSN US71567RAB24 15-Mar-2019 1500 FIXED 6.13 110.37 110.99 2.72 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

PERUSAHAAN PENERBIT SBSN US71567RAA41 21-Nov-2022 1000 FIXED 3.30 93.44 94.12 4.27 BB+/Baa3/BBB- INDONESIA Sr Unsecured 200,000

PETRONAS GLOBAL SUKUK LT USY68868AA92 18-Mar-2020 1250 FIXED 2.71 100.19 100.19 2.66 A-/A1/- MALAYSIA Sr Unsecured 200,000





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 200,000

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 200,000

SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 104.51 105.23 3.09 A/A3/- UNITED ARAB EMIRATES Sr Unsecured 200,000



SUKUK FUNDING NO3 LTD XS0993959583 3-Dec-2018 750 FIXED 4.35 105.19 105.66 2.46 BBB-/Baa3/- UNITED ARAB EMIRATES Sr Unsecured 200,000

WAKALA GLOBAL SUKUK BHD USY9485PAB86 6-Jul-2021 800 FIXED 4.65 109.76 110.26 2.70 A-/A3/- MALAYSIA Sr Unsecured 250,000

WAKALA GLOBAL SUKUK BHD USY9485PAA04 6-Jul-2016 1200 FIXED 2.99 101.24 101.38 1.04 A-/A3/- MALAYSIA Sr Unsecured 250,000



October 14, 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 94.21 94.69 1.61 A/A2/A NETHERLANDS Sr Unsecured 1,000

ANGLO AMERICAN CAPITAL XS0923361827 29-Apr-2021 750 FIXED 2.50 89.09 90.00 4.58 BBB-/Baa2/BBB UNITED KINGDOM Sr Unsecured 100,000

AT&T INC XS1196373507 5-Sep-2023 1250 FIXED 1.30 95.88 96.36 1.80 BBB+/Baa1/A- UNITED STATES Sr Unsecured 100,000

BANK OF AMERICA CORP XS1209863254 26-Mar-2025 750 FIXED 1.38 95.14 95.59 1.89 A-/Baa1/A UNITED STATES Sr Unsecured 100,000

BANKIA SA ES0413307093 25-Sep-2025 1000 FIXED 1.00 94.89 95.54 1.49 A+/A1u/A- SPAIN Secured 100,000

BARCLAYS PLC XS1116480697 1-Apr-2022 1000 FIXED 1.50 98.92 99.30 1.61 BBB/Baa3/A UNITED KINGDOM Sr Unsecured 100,000

BERKSHIRE HATHAWAY INC XS1200670955 16-Mar-2023 750 FIXED 0.75 95.28 95.72 1.36 AA /*-/Aa2/A+ UNITED STATES Sr Unsecured 100,000

BHP BILLITON FINANCE LTD XS1225004461 28-Oct-2022 650 FIXED 0.75 93.95 94.61 1.57 A+/A1/A+ AUSTRALIA Sr Unsecured 100,000

BLACKROCK INC XS1117297785 6-May-2025 700 FIXED 1.25 94.70 95.45 1.77 AA-/A1/- UNITED STATES Sr Unsecured 100,000

BMW FINANCE NV XS1168962063 21-Jan-2025 750 FIXED 1.00 94.96 95.67 1.50 A+/A2/- GERMANY Sr Unsecured 1,000

BNP PARIBAS XS1190632999 17-Feb-2025 1500 FIXED 2.38 95.47 96.05 2.86 BBB/Baa2/A FRANCE Subordinated 100,000

BP CAPITAL MARKETS PLC XS1190973559 16-Feb-2023 1250 FIXED 1.11 96.89 97.37 1.49 A/A2/- UNITED KINGDOM Sr Unsecured 100,000

BPCE SA FR0012633345 12-Mar-2025 375 FIXED 2.25 92.92 93.30 3.08 BBB/Baa3/A- FRANCE Subordinated 100,000

BRISTOL-MYERS SQUIBB CO XS1226748439 15-May-2025 575 FIXED 1.00 95.34 95.99 1.45 A+/A2/A- UNITED STATES Sr Unsecured 100,000

CARREFOUR SA XS1179916017 3-Jun-2025 750 FIXED 1.25 95.38 96.01 1.70 BBB+/NR/BBB+ FRANCE Sr Unsecured 100,000

CITIGROUP INC XS1173792059 28-Jan-2025 1250 FIXED 1.75 98.26 98.70 1.90 A-/Baa1/A UNITED STATES Sr Unsecured 100,000

COCA-COLA CO/THE XS1197832915 9-Mar-2023 1500 FIXED 0.75 96.32 96.83 1.20 AA/Aa3/A+ UNITED STATES Sr Unsecured 100,000

CRED SUIS GP FUN LTD XS1218287230 14-Apr-2022 2250 FIXED 1.25 97.53 97.92 1.59 BBB+/Baa2/A SWITZERLAND Sr Unsecured 100,000

CREDIT AGRICOLE LONDON XS1169630602 19-Jan-2022 1500 FIXED 0.88 97.29 97.63 1.27 A/A2/A FRANCE Sr Unsecured 100,000

CREDIT AGRICOLE LONDON FR0012534931 13-Feb-2022 700 FIXED 0.89 97.49 97.79 1.25 A/A2/- FRANCE Sr Unsecured 100,000

CREDIT AGRICOLE LONDON FR0012770261 9-Jun-2022 500 FIXED 1.16 98.73 99.04 1.31 A/A2/- FRANCE Sr Unsecured 100,000

DANONE SA FR0012432912 14-Jan-2025 750 FIXED 1.13 96.22 96.83 1.49 A-/Baa1/- FRANCE Sr Unsecured 100,000

DEUTSCHE BANK AG DE000DB7XJJ2 17-Feb-2025 1250 FIXED 2.75 94.14 94.74 3.42 BBB-/Ba1/A- GERMANY Subordinated 1,000

DEUTSCHE BANK AG DE000DB7XJP9 17-Mar-2025 1500 FIXED 1.13 91.92 92.43 2.01 BBB+/A3/A GERMANY Sr Unsecured 100,000

EDP FINANCE BV XS1222590488 22-Apr-2025 750 FIXED 2.00 92.96 93.95 2.73 BB+/Baa3/BBB- PORTUGAL Sr Unsecured 100,000

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

COUPON0.00 92.44 92.69 1.36 -/Baa2/BBB+ AUSTRIA Sr Unsecured 1,000

GE CAPITAL EURO FUNDING XS1169353254 21-Jan-2022 1000 FIXED 0.80 97.97 98.32 1.08 AA+/A1/- UNITED STATES Sr Unsecured 100,000

GLENCORE FINANCE EUROPE XS1202846819 17-Mar-2021 1250 FIXED 1.25 77.03 77.86 6.18 BBB/Baa2/- SWITZERLAND Sr Unsecured 100,000

GLENCORE FINANCE EUROPE XS1110430193 18-Jan-2022 700 FIXED 1.63 75.50 76.53 6.27 BBB/Baa2/- SWITZERLAND Sr Unsecured 100,000

GLENCORE FINANCE EUROPE XS1202849086 17-Mar-2025 750 FIXED 1.75 71.94 73.09 5.48 BBB/Baa2/- SWITZERLAND Sr Unsecured 100,000

GOLDMAN SACHS GROUP INC XS1173845436 26-Jul-2022 1000 FIXED 1.38 98.17 98.51 1.61 A-/A3/A UNITED STATES Sr Unsecured 1,000

IBERDROLA INTL BV XS1171541813 27-Jan-2023 600 FIXED 1.13 97.22 97.75 1.45 BBB/Baa1/BBB+ SPAIN Sr Unsecured 100,000

INTESA SANPAOLO SPA XS1197351577 4-Mar-2022 1500 FIXED 1.13 96.00 96.40 1.72 BBB-/Baa1/BBB+ ITALY Sr Unsecured 100,000

JPMORGAN CHASE & CO XS1174469137 27-Jan-2025 1500 FIXED 1.50 97.78 98.22 1.71 A/A3/A+ UNITED STATES Sr Unsecured 100,000

LLOYDS BANK PLC XS1167204699 13-Jan-2025 1000 FIXED 1.25 97.19 97.69 1.52 A/A1/A+ UNITED KINGDOM Sr Unsecured 100,000

MACQUARIE BANK LTD XS1169353338 20-Jan-2022 500 FIXED 1.13 96.58 97.05 1.62 A/A2/A AUSTRALIA Sr Unsecured 100,000



October 14, 2015 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer

Yield %

Credit Rating


MCDONALD'S CORP XS1237271009 26-May-2022 800 FIXED 1.13 98.63 99.05 1.27 A-/A3/BBB+ UNITED STATES Sr Unsecured 100,000

METRO AG XS1203941775 19-Mar-2025 600 FIXED 1.50 93.00 93.68 2.25 BBB-/Baa3u/BBB- GERMANY Sr Unsecured 1,000

MORGAN STANLEY XS1180256528 30-Jan-2025 1500 FIXED 1.75 98.36 98.86 1.88 A-/A3/A UNITED STATES Sr Unsecured 100,000

ROCHE FINANCE EUROPE BV XS1195056079 25-Feb-2025 1000 FIXED 0.88 96.29 96.89 1.23 AA/A1/- SWITZERLAND Sr Unsecured 1,000

SANTANDER ISSUANCES XS1201001572 18-Mar-2025 1500 FIXED 2.50 92.82 93.40 3.33 BBB/Baa2/BBB+ SPAIN Subordinated 100,000

SAP SE DE000A14KJF5 1-Apr-2025 600 FIXED 1.00 96.41 97.00 1.34 A/A2/- GERMANY Sr Unsecured 1,000

SOCIETE GENERALE XS1195574881 27-Feb-2025 1250 FIXED 2.63 95.28 95.86 3.14 -/Baa3/A- FRANCE Subordinated 100,000

STANDARD CHARTERED PLC XS1140857316 19-Nov-2024 500 FIXED 3.13 95.61 96.81 3.54 BBB/A2/A+ UNITED KINGDOM Subordinated 100,000

STATOIL ASA XS1190624111 17-Feb-2023 1000 FIXED 0.88 97.22 97.73 1.20 AA-/Aa2/- NORWAY Sr Unsecured 100,000

TOTAL CAPITAL INTL SA XS1139315581 19-Mar-2025 850 FIXED 1.38 97.79 98.44 1.55 AA-/Aa1/- FRANCE Sr Unsecured 100,000

VOLKSWAGEN INTL FIN NV XS1167644407 16-Jan-2023 1000 FIXED 0.88 89.28 90.00 2.39 A- /*-/A2/- GERMANY Sr Unsecured 1,000


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