mashreq · worry that iran will use the agreement to deepen its involvement in arab affairs as...

mashreqFixed Income Trading

Daily Market Update

Market Update

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John Kerry wins support for Iran deal from GCC

GCC governments publicly backed Iran’s nuclear accord with global powers in a move that could bolster the US administration’s efforts to secure

Congressional approval for the historic agreement. Secretary of State John Kerry, on a visit to Qatar, said foreign ministers from the Gulf Cooperation

Council agreed that the accord, which will curb Iran’s nuclear program in return for easing sanctions, will contribute to regional security. The ministers

welcomed Kerry’s presentation and found provisions of the deal “reassuring to the region,” Qatari Foreign Minister Khalid Al-Attiyah told a joint news

conference with Kerry in Doha. The nuclear pact reached in Vienna has rattled Gulf countries skeptical about rival Iran’s atomic and regional ambitions. They

worry that Iran will use the agreement to deepen its involvement in Arab affairs as sanctions are lifted and its economy and revenue expand. Seeking to

ease those concerns, Iranian Foreign Minister Mohammad Javad Zarif on Monday called for regional dialogue to resolve conflicts in Yemen and Syria. Writing

in Lebanon’s Assafir newspaper, Zarif said his planned visits to Kuwait, Qatar and Iraq were evidence of his country’s commitment to establishing good ties

with its neighbors. Expressions of support from the Gulf allies could help Kerry and President Barack Obama counter one argument advanced by critics,

which is the Iran deal must be bad because it is opposed by both Arab states and Israel, nations that agree on little else. (Bloomberg)

Creditors of Dubai's Drydocks World select Moelis as adviser

Creditors of Drydocks World, the Dubai government-owned company seeking to revise part of a USD2.3 billion debt restructuring deal which it signed in

2012, have chosen Moelis & Co as their adviser, sources familiar with the matter said. The selection of the New York-based advisory company should open

the way to Drydocks offering a proposal to creditors, a move expected to happen later this quarter, with a view to closing a deal as early as the end of the

fourth quarter, said one of the sources. Citigroup has already been picked by Drydocks as an adviser, the sources said, as previously reported by other

media. The marine engineering group is the latest United Arab Emirates company seeking to take advantage of low interest rates and a generally healthier

economic backdrop to renegotiate a debt restructuring agreed after the 2009 financial crisis. Drydocks World's parent company, Dubai World , earlier this

year revised the terms of USD 14.6 billion of debt. (Reuters)

Damac sukuk emerges as top-performer among regional sukuks in July

Damac’s USD650 million of sukuk maturing April 2019 was the best-performing sukuk in Dubai during July, returning almost 70% more than

the nearest rivals, according to data compiled by Bloomberg. Damac’s sukuk returned 2.43 percent last month. Even after the gains, the yield at 6.45%

remained the highest for any non-perpetual Islamic bonds in the emirate as of July 31. While most regional banks don’t hold junk-rated bonds in their books

due to capital adequacy requirements, estimates that sales may quadruple this year are boosting the allure of the Dubai developer’s debt to investors

seeking higher yields in anticipation of the first US interest-rate increase since 2006. T. Rowe Price Group Inc., the Baltimore-based mutual fund manager,

boosted its purchases of the securities last quarter by a third, according to a June 30 filing. Damac is rated BB by Standard & Poor’s, the second-highest non-

investment grade, citing the company’s “strong focus on Dubai and its volatile property market” among its business risks. Dubai home prices may drop as

much as 20 percent this year, S&P estimates. “It’s always tempting to look at the yield, but then there is a good chance that once we see a bit of volatility in

the property market again, the price” may drop, Robert Hahm, investment manager at Mashreqbank PSC in Dubai, said by phone on Thursday. “My concern

is that they’ll follow an aggressive dividend policy, and if we see further downturn in the property market, the company won’t have enough liquidity.” Damac

said in April it would pay holders at least 25% for this year, or 25 fils per share. That compares with 15% for Emaar Properties PJSC for 2014, Dubai’s

biggest developer, data compiled by Bloomberg show. The company’s board will meet on Tuesday. (Bloomberg)

Qatari Diar venture agrees to sell USD857 million London offices

A venture between Qatari Diar Real Estate Investment Co. and Canary Wharf Group agreed to sell two office buildings in London’s South Bank district to

Almacantar SA for more than GBP550 million (USD857 million). Almacantar, led by the former Land Securities Plc executive Mike Hussey, is buying the

buildings near Waterloo railway station before their completion in 2018. One of them will be leased by a unit of Royal Dutch Shell Plc and occupiers will be

sought for the other. “The area around Waterloo Station has the potential to grow into one of the best mixed-use destinations in London,” Hussey, who used

to be in charge of Land Securities’ London real estate business, said in the statement. The deal is the largest ever in London’s South Bank district, where

rents have risen as a lack of space and higher rents forces some occupiers to move out of London’s West End. Rents for the best office buildings in South

Bank are about 57.50 pounds a square foot compared with 117.50 pounds in Mayfair and 85 pounds in Soho, according to broker Jones Lang LaSalle Inc.

(Bloomberg)

Tuesday, August 04, 2015

Reserve Bank of India holds rate at 7.25%

Indian central bank Governor Raghuram Rajan kept interest rates unchanged, rebuffing pressure from the Finance Ministry to reduce borrowing costs that

are among the highest in Asia. Rajan left the benchmark repurchase rate at 7.25 % after three cuts this year, including in June, the Reserve Bank of India

said in a statement in Mumbai on Tuesday. The move was predicted by 39 of 42 economists in a Bloomberg News survey. Three expected a cut to 7%.

“Given that policy action was front-loaded in June, it is prudent to keep the policy rate unchanged at the current juncture while maintaining the

accommodative stance of monetary policy,” Rajan said in a statement. The central bank will monitor for room to easy policy as it awaits greater transmission

of previous cuts, he said. Rajan wants to ensure his inflation target of 6% by January isn’t at risk from surging food prices, a poor monsoon and a possible

increase in US interest rates next month. A Finance Ministry official on Monday said inflation can’t be the primary concern of policy makers, the latest sign of

growing tensions with the central bank. (Bloomberg)


Daily Market Update

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JP Morgan recommends exit from 2-year US treasury notes

JP Morgan believes that Treasury short-term yields may almost double and prices will fall as the Federal Reserve prepares to raise interest rates. Two-year

yields will climb to 1.25% by year-end, from 0.68% percent today, analysts at the company wrote in a note to clients. “We remain bearish on front-end

Treasuries,” JPMorgan analysts including Jay Barry, Bruce Sun and Phoebe White in New York wrote in the report dated July 31. “Fed tightening will pressure

short-term rates higher during 2015.” Fed policy makers have kept their benchmark, the target for overnight loans between banks, in a range of zero to

0.25% since 2008 to support the US economy. There’s a 68% chance they will increase the rate by their December meeting, based on the assumption that

the effective federal funds rate will average 0.375% percent following the increase, the data compiled by Bloomberg show. (Bloomberg)

Reserve Bank of Australia holds interest rate at record low of 2%

Reserve Bank of Australia left its key interest rate unchanged today as a weaker currency aids local firms and soaring Sydney home prices argue against

additional stimulus. Central bank Governor Glenn Stevens and his board kept the cash rate at a record-low 2%, as predicted by markets and economists

following reductions in May and February. Australia has so far had little success in stimulating industries as a decade-long mining investment boom unwinds.

Businesses plan to cut investment in the next 12 months by the most on record as firms decide they can meet demand with existing capacity amid weak

wage growth. Traders are pricing in a 50-50 chance of another rate cut in November as Australia, the developed world’s most China- dependent economy,

struggles to cope with slumping prices for key resource exports. (Bloomberg)

China plans bond program to fund construction projects

China is planning at least 1 trillion yuan (USD161 billion) in bonds, and potentially a multiple of that, to fund construction projects that can help address a

struggling economy, according to people familiar with the matter. Unlike the previous leadership’s reliance on a record surge in local government debt to

fund the post-2008 stimulus, President Xi Jinping and Premier Li Keqiang’s team will use arms of the central government to raise the money. Local

authorities are in the midst of a restructuring of their debt, and their constricted financing has seen infrastructure spending slow. The construction-bond

program is taking shape amid fresh signs that growth is running at less than an official target of about 7% for this year. A weakening in manufacturing could

be countered by some of the infrastructure projects now envisioned, including shanty town redevelopment. China Development Bank Corp. and the

Agricultural Development Bank of China, which are referred to as policy banks because they carry out government objectives, will issue bonds to fund

construction, the people said, asking not to be identified because they weren’t authorized to speak publicly about the plan. The Postal Savings Bank of China

will buy the debt, aided by liquidity from the central bank, according to one of the people. (Bloomberg)

IMF believes limited bond supply may force BOJ to taper in 2017/2018

The Bank of Japan may need to reduce the pace of its bond purchases in a few years due to a shortage of sellers, said economists at the International

Monetary Fund. There is likely to be a “minimum” level of demand for Japanese government bonds from banks, pension funds, and insurance companies due

to collateral needs, asset allocation targets, and asset-liability management requirements, said IMF economists Serkan Arslanalp and Dennis Botman. “The

sustainability of the BOJ’s current pace of JGB purchases may become an issue,” they wrote in the paper released on Monday in Washington. “The BOJ may

need to taper its JGB purchases in 2017 or 2018.” While Governor Haruhiko Kuroda said in May that he expects no obstacles in buying government bonds,

the IMF analysts are questioning the sustainability of the unprecedented debt purchases. The BOJ could deliver continued stimulus by extending the maturity

of its JGB purchases or by scaling up private asset purchases if needed, the IMF economists wrote. “The BOJ could change its monetary base target, or move

to an alternative intermediate objective, such as interest rate targeting,” the IMF paper said. “It is important to note that the BOJ is not out of options, even

when limits to JGB purchases are reached.” Kuroda expanded already-record stimulus in October, giving the bank scope to buy every new bond issued by

the Ministry of Finance. The BOJ targets to increase its bond holdings at an annual pace of 80 trillion yen (USD645 billion) with its pledge to make the

average remaining maturity of bond purchases about 7-10 years. The bank also buys assets linked to stocks and real estate. The BOJ held 26.5% of

Japanese government bonds at the end of March, the biggest single holder of JGBs, according to data from the central bank. . Six of 34 economists forecast

the BOJ will taper its asset purchases next year, four see a move in 2017, while 13 forecast it will be in 2018 or later, according to a Bloomberg survey last

month. The rest said tapering is unforeseeable. (Bloomberg)

The UK Government sells partial RBS stake for USD3.3 billion

The UK government raised GBP2.1 billion (USD3.3 billion) from selling Royal Bank of Scotland Group Plc shares at a discount, its first disposal since the

lender received the world’s largest bank bailout. The sale of a 5.4% stake at 330 pence apiece to money managers will cut the taxpayer’s holding to 72.9%

from 78.3%, according to a statement on Tuesday. The shares closed at 337.6 pence on Monday before the start of the sale process. Chancellor of the

Exchequer George Osborne took a loss on Monday’s sale as he tries to revive investor appetite in the bank, seven years after it became Britain’s biggest

casualty of the financial crisis. RBS, which has since shrunk its investment bank, still trades for less than the price the government paid for its stake.

Meanwhile, the UK has sold part of its Lloyds Banking Group Plc holding at a profit. “The right thing to do for the economy and for taxpayers is to start selling

off our stake,” Osborne said in a statement on Tuesday. “This is an important first step in returning the bank to private ownership.” The money raised from

the sale will be used to pay down the national debt, the Treasury said in the statement. The stock price is below the 407 pence at which the government

says it would break even on its 45.5 billion-pound rescue. The Treasury published a report by Rothschild in June that said the government would make

money from the sum of its total bank bailout program even if it makes a loss on RBS. (Bloomberg)

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• Reliance Communications draws interest in sale of tower unit stake

Reliance Communications has revived a plan to sell a stake in its tower unit, attracting early interest from US private equity firms as well as sector rivals,

three sources with direct knowledge of the matter said. Reliance Communications, India's fourth-biggest mobile phone carrier, is looking at a valuation of

about USD4 billion for the unit, which has about 45,000 mobile phone masts, the sources said. The stake sale is key for Reliance Communications, the most-

leveraged Indian telecoms carrier with USD5.8 billion in net debt as of the end of March. Past efforts to sell a stake in the unit or to take it public failed to go

through. This time, private equity firms including Blackstone, Providence Equity Partners and The Carlyle Group have shown an interest in bidding, said the

sources, requesting anonymity as the information was not public. From the industry side, American Tower Corp and India's Bharti Infratel Ltd were other

potential suitors for the 51% stake to be offered in Reliance Infratel, they said. India's mobile phone tower sector, which was hit by a court order in 2012

cancelling the permits of several carriers, is expected to see higher demand and tenancies as operators step up the rollout of networks to meet a surge in

data uptake. Another of the sources said Reliance Communications was expected to transfer USD1.5 billion of its debt to the tower company on a non-

recourse basis after closure of the deal, which is likely in October. The tower unit's parent also expects to get at least USD1 billion in net proceeds for the

stake, which would be used to pay off its high-cost rupee debt, the source added. (Reuters)

Microsoft’s offshore profit pile crosses USD 100 billion mark

Microsoft Corp.’s stockpile of offshore profits rose to USD108 billion, with a 17% increase over the past year as the company continues reaping profits in low-

tax foreign jurisdictions. The company crossed the USD 100 billion mark, making it just the second U.S. corporation, after General Electric, to do so,

according to a securities filing dated July 31. Apple Inc. has more cash abroad than Microsoft, but it already has assumed for accounting purposes that it will

pay tax on some of the stockpile and thus has less than USD 70 billion offshore that would affect earnings directly if repatriated. Microsoft would be required

to pay the difference between its foreign taxes and the 35% US corporate tax rate if it brought the money home. To get its USD 108.3 billion back, Microsoft

would have to pay the government USD34.5 billion in taxes, equivalent to a 31.9% rate, which suggests that the company has paid as little as 3.1% in taxes

on its foreign income, because of operations in low-tax Ireland, Singapore and Puerto Rico. The Internal Revenue Service and Microsoft are in the midst of

an intense legal battle over the company’s transfer pricing, or intracompany transactions. The federal government is auditing the company’s returns as far

back as 2004, and Microsoft has challenged the government’s hiring of outside lawyers. Under current law, US companies owe the full 35% rate on profits

they earn around the world, but they don’t have to pay the US until they repatriate the profits. That gives companies an incentive to book profits overseas

and leave them there. US companies have more than USD2 trillion amassed outside the US, according to a Bloomberg News review earlier this year of the

securities filings of 304 companies. Apple has more than USD 200 billion in cash stockpiled, with almost 90% kept overseas. As of its most recent annual

report, Apple had USD 69.7 billion in profits on which it hasn’t assumed taxes. US lawmakers are looking for ways to get some of that cash back in the US.

President Barack Obama supports a one-time 14% tax on stockpiled profits, with the proceeds going to highways and other infrastructure programs. Some

Republicans favor a similar approach and are working on a detailed plan. (Bloomberg)

US ETF witnessed outflows of USD4 billion in July

US exchange-traded funds that invest in emerging markets faced USD4 billion of net outflows last month, the most since January 2014. Redemptions from

emerging-market ETFs that invest across developing nations as well as those that target specific countries totaled USD4 billion, compared with withdrawals

of USD1.4 billion in June, according to data compiled by Bloomberg. The last time ETFs did worse was 18 months ago, when outflows reached USD9.3 billion.

In July, stock funds lost USD4 billion and bond funds received USD34.4 million. The MSCI Emerging Markets Index declined 7.3% in the month. The biggest

change in July was in China and Hong Kong, where funds shrank by USD1.5 billion, compared with USD109.1 million of redemptions in June. (Bloomberg)


Daily Market Update

Earnings Update

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Change Change USD EUR AED

bps Spread Day YTD Last 1d Chg Last 1d Chg Last 1d Chg

iTraxx Europe 62.698 0.465 -0.164 2-Year 0.903 0.005 0.088 -0.003 1.517 0.062

iTraxx Europe Crossover 289.573 5.640 -56.041 5-Year 1.665 0.010 0.386 0.002 2.478 0.063

CDX North America IG 71.951 1.741 5.830 10-Year 2.246 0.012 0.962 -0.004 3.660 0.050

CDX North America HY 356.934 4.637 -0.020 30-Year 2.662 0.011 1.472 -0.010 N/A N/A

iTraxx SovX Western Europe 22.865 0.475 -3.591 Source: Bloomberg

iTraxx SovX CEEMEA 296.820 3.470 -18.600

iTraxx Europe Senior Financial 73.313 -0.342 5.878

iTraxx Europe Sub Financial 149.861 -0.989 0.995

Source: Bloomberg

Change Change Last Change Change

bps Spread Day YTD Day YTD (%)

Emirate of Abu Dhabi 5Y 41.000 -13.500 -21.000 S&P 500 2,098.04 1.90

Emirate of Dubai 5Y 180.000 0.000 -50.000 Dow Jones Industrial Avg 17,598.20 -1.26

Kingdom of Bahrain 5Y 275.000 0.000 20.000 DFM General Index 4,089.81 8.37

State of Qatar CDS 5Y 58.963 1.138 -7.265 ADX General Index 4,790.20 5.77

Kingdom of Saudi Arabia 5Y 64.500 0.000 -0.500 Qatar Exchange Index 11,725.52 -4.56

Lebanese Republic 5Y 360.000 0.000 -35.000 TASI 8,781.83 5.38

Republic of Turkey 5Y 238.000 1.000 58.000 Spot Gold 1,091.74 -7.82

Arab Republic of Egypt 5Y 330.000 0.000 50.000 Spot Silver 14.56 -7.31

Source: Bloomberg WTI Crude 45.90 -13.84

Brent Crude 50.24 -12.37

Source: Bloomberg

Last (NAV) Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.60030 0.59% 4.05%

Mashreq Al-Islami Arab Tigers 19.26910 -0.53% -5.49%

Makaseb Income Fund 13.11661 0.93% 3.24%

Source: Bloomberg

-91.66

-30.24

-31.07

-24.77

-38.83

4.95

0.05

0.73

0.72

MUTUAL FUNDS

-5.80


Abu Dhabi’s Aldar Properties Q2 net profit rises 18%

Aldar Properties has announced an 18% increase in net profit for the second quarter of 2015 to AED601 million, compared to AED509 million in the same

period last year. This is despite the fact that revenues halved in the period to AED1.1 billion from AED2.2 billion in the second quarter of last year as fewer

completed properties were handed over. Profits for the six months to June 30 increased by 21% to AED1.2 billion, although revenues were 42% lower at

AED2.3 billion. Aldar attributed the growth in quarterly profit to higher recurring revenues from its retained portfolio, as well as higher development margins

and lower finance costs. The company said that gross profit margins were up 60% as a result of growth in recurring revenues, driven by the leasing of over

3,000 units at Gate Towers and Al Rayana and new revenues from Yas Mall, which opened last November. Of the 4,800 residential units it has in its leasing

portfolio, 98% were occupied at the end of June. Of its 184,000 square metre office portfolio, 91% was also taken up. (The National)

JSW Steel posts first-quarter loss on weak demand

JSW Steel Ltd., India’s third-biggest producer of the alloy, swung to a quarterly loss as cheap imports from China and a decline in domestic demand trimmed

margins. The net loss was INR1.07 billion (USD17 million) in the first quarter ended June 30, compared with a profit of INR6.56 billion a year earlier, the

company said in a statement. That compares with the INR982.5 million median loss of 16 analyst estimates compiled by Bloomberg. Net sales fell 13% to

INR113.8 billion. The global steel industry is reeling under the impact of exports from China, Sajjan Jindal, chairman of JSW Steel, said today. Steel

companies in Asia’s third-biggest economy face challenges from an unprecedented surge in imports, domestic constraints on the supply of iron ore, and

sluggish demand, he told shareholders. (Bloomberg)

CREDIT MARKETS SWAPS

CDS MISCELLANEOUS

Fixed Income Trading

August 4, 2015

Security Name ISIN Code MaturityOutst. Amnt

(Mn)

Min Piece/

Incr. (000)

Value at

MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer

Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abu Dhabi Govt Int'L XS0422754258 08-Apr-19 1500 100/1 100 USD Fixed 6.750 116.75 118.75 1.48 AA /Aa2 /AA

Arab Republic Of Egypt XS0505265859 29-Apr-20 1000 100/1 100 USD Fixed 5.750 103.88 105.38 4.47 B- /B3 /B

Arab Republic Of Egypt XS1245432742 11-Jun-25 1500 200/1 100 USD Fixed 5.875 98.00 99.50 5.94 B- /B3 /B

Arab Republic Of Egypt XS0505478684 30-Apr-40 500 100/1 100 USD Fixed 6.875 96.75 98.25 7.02 B- /B3 /B

Bahrain (CBB Int.) (S) XS0708899272 22-Nov-18 750 100/1 100 USD Fixed 6.273 110.88 112.38 2.34 BBB- /- /-

Commonwealth Of Bahamas USP06518AF40 16-Jan-24 300 200/1 100 USD Fixed 5.750 107.63 109.63 4.37 BBB /Baa2 /-

Dubai Government (S) XS0778097088 02-May-17 600 200/1 100 USD Fixed 4.900 105.50 106.50 1.11 Not Rated

Dubai Government (S) XS0778097674 02-May-22 650 200/1 100 USD Fixed 6.450 119.25 120.25 3.10 Not Rated

Dubai Government (S) XS0880424337 30-Jan-23 750 200/1 100 USD Fixed 3.875 103.13 104.13 3.25 Not Rated

Dubai Govt Int'L Bonds XS0546426528 05-Oct-15 500 100/1 100 USD Fixed 6.700 101.00 101.50 -2.36 Not Rated

Dubai Govt Int'L Bonds XS0546428144 05-Oct-20 750 100/1 100 USD Fixed 7.750 121.50 123.50 2.83 Not Rated

Dubai Govt Int'L Bonds XS0640032594 22-Jun-21 500 100/1 100 USD Fixed 5.591 112.50 113.50 3.06 Not Rated

Dubai Dof Sukuk Ltd (S) XS1062038143 30-Apr-29 750 200/1 100 USD Fixed 5.000 103.25 104.25 4.58 Not Rated

Dubai Govt Int'L Bonds XS0880597603 30-Jan-43 500 200/1 100 USD Fixed 5.250 90.13 92.13 5.83 Not Rated

Ethiopia XS1151974877 11-Dec-24 1000 200/1 100 USD Fixed 6.625 97.88 99.88 6.64 B /B1 /B

Emirate of Ras Al Khaimah (S) XS1210507650 31-Mar-25 1000 200/1 100 USD Fixed 3.094 97.75 98.75 3.25 - /- /A

Gabonese Republic XS0333225000 12-Dec-17 161 100/1 100 USD Fixed 8.200 105.13 107.13 4.94 B+ /- /B+

Gabonese Republic XS1003557870 12-Dec-24 1500 200/0.001 100 USD Fixed 6.375 92.63 94.63 7.17 B+ /- /B+

Gabonese Republic XS1245960684 16-Jun-25 500 200/1 100 USD Fixed 6.950 96.00 98.00 7.24 B+ /Ba3 /B+

Govt Of Bermuda USG10367AB96 06-Feb-24 750 200/1 100 USD Fixed 4.854 104.00 106.00 4.01 A+ /A1 /WD

Islamic Rep Of Pakistan USY8793YAK83 31-Mar-16 500 100/1 100 USD Fixed 7.125 101.13 103.13 2.22 B- /B3 /-

Islamic Rep Of Pakistan USY8793YAM40 01-Jun-17 750 100/1 100 USD Fixed 6.875 103.00 105.00 3.99 B- /B3 /-

Islamic Rep Of Pakistan XS1056560763 15-Apr-19 1000 200/1 100 USD Fixed 7.250 103.00 105.00 5.72 B- /B3 /-

Islamic Rep Of Pakistan (S) XS1147732553 03-Dec-19 1000 200/1 100 USD Fixed 6.750 101.13 103.13 5.92 B- /B3 /-

Islamic Rep Of Pakistan XS1056560920 15-Apr-24 1000 200/1 100 USD Fixed 8.250 106.13 108.13 6.98 B- /B3 /-

Islamic Rep Of Pakistan USY8793YAL66 31-Mar-36 300 100/1 100 USD Fixed 7.875 95.63 97.63 8.11 B- /B3 /-

Ivory Coast XS1089413089 23-Jul-24 750 200/1 100 USD Fixed 5.375 91.88 93.88 6.28 - /B1 /B

Ivory Coast XS1196517434 03-Mar-28 1000 200/1 100 USD Fixed 6.375 95.00 97.00 6.73 - /B1 /B

Ivory Coast XS0496488395 31-Dec-32 2519 100/1 100 USD Step Cpn 5.750 91.13 93.13 6.72 - /- /B

Kingdom Of Bahrain XS0498952679 31-Mar-20 1250 100/1 100 USD Fixed 5.500 108.38 109.88 3.20 BBB- /NR /BBB-

Kingdom Of Bahrain XS0794901727 05-Jul-22 1500 200/1 100 USD Fixed 6.125 110.88 112.38 4.05 BBB- /- /BBB-

Kingdom Of Bahrain XS0956406135 01-Aug-23 1500 200/1 100 USD Fixed 6.125 110.88 112.38 4.28 BBB- /- /BBB-

Sovereign


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Kingdom Of Bahrain XS1110833123 19-Sep-44 1250 200/1 100 USD Fixed 6.000 91.00 92.50 6.58 BBB- /- /BBB-

Kingdom Of Jordan XS0557127353 12-Nov-15 750 200/1 100 USD Fixed 3.875 99.00 101.00 0.12 BB- /B1 /-

Kingdom Of Morocco XS0307883891 27-Jun-17 500 50/1 100 EUR Fixed 5.375 106.50 108.50 0.82 BBB- /Ba1u /BBB-

Kingdom Of Morocco XS0546649822 05-Oct-20 1000 50/1 100 EUR Fixed 4.500 109.25 111.25 2.17 BBB- /- /BBB-

Kingdom Of Morocco XS0850020586 11-Dec-22 1500 200/1 100 USD Fixed 4.250 101.00 103.00 3.78 BBB- /- /BBB-

Kingdom Of Morocco XS1079233810 19-Jun-24 1000 100/1 100 EUR Fixed 3.500 101.75 103.75 3.01 BBB- /- /BBB-

Kingdom Of Morocco US617726AG97 11-Dec-42 750 200/1 100 USD Fixed 5.500 99.50 102.50 5.32 BBB- /- /BBB-

Lebanese Republic XS0493540297 09-Mar-20 1200 1/1 100 USD Fixed 6.375 103.38 105.38 5.05 B- /NR /B

Lebanese Republic XS1196417569 26-Feb-25 800 1/1 100 USD Fixed 6.200 100.13 102.13 5.90 B- /- /B

Lebanese Republic XS1196419854 26-Feb-30 1400 1/1 100 USD Fixed 6.650 101.13 103.13 6.32 B- /NR /B

Malays Govt (S) USY9485PAA04 06-Jul-16 1200 250/1 100 USD Fixed 2.991 101.00 102.00 0.79 A- /A3 /-

Malays Govt (S) USY9485PAB86 06-Jul-21 800 250/1 100 USD Fixed 4.646 109.63 111.13 2.60 A- /A3 /-

Malaysia Sovereign Sukuk (S) USY5749LAA99 22-Apr-25 1000 200/1 100 USD Fixed 3.043 97.88 99.38 3.12 A- /A3 /-

Malaysia Sovereign Sukuk (S) USY5749LAB72 22-Apr-45 500 200/1 100 USD Fixed 4.236 96.88 98.38 4.33 A- /A3 /-

Mongolia Intl Bond US60937GAA40 05-Jan-18 500 200/1 100 USD Fixed 4.125 92.75 95.25 6.28 B+ /B2 /B+

Mongolia Intl Bond US60937GAB23 05-Dec-22 1000 200/1 100 USD Fixed 5.125 84.25 86.75 7.51 B+ /B2 /B+

Provincia De Buenos Aire XS0546539486 05-Oct-15 676 100/1 100 USD Fixed 11.750 99.00 101.50 2.46 CCC- /Caa2 /-

Rak Capital (S) XS0568993918 28-Jan-16 400 100/1 100 USD Fixed 5.239 101.63 102.63 -0.26 A /- /A

Rak Capital (S) XS0981184541 21-Oct-18 500 200/1 100 USD Fixed 3.297 102.63 104.63 1.80 A /- /A

Republic of Angola XS0814512223 16-Aug-19 1000 250/1 100 USD Fixed 7.000 97.75 99.75 7.07 B+ /Ba2 /-

Republic Of Azerbaijan XS1044540547 18-Mar-24 1250 200/1 100 USD Fixed 4.750 98.13 99.63 4.80 - /Baa3 /BBB-

Republic Of Congo XS0334989000 30-Jun-29 409 1/1 100 USD Step Cpn 4.000 88.88 90.38 6.68 - /- /B+

Republic Of Ghana XS0323760370 04-Oct-17 531 100/1 100 USD Fixed 8.500 103.25 105.25 5.87 B- /B3 /B

Republic Of Ghana XS0956935398 07-Aug-23 1000 200/0.001 100 USD Fixed 7.875 92.25 94.25 8.89 B- /B3 /B

Republic Of Ghana XS1108847531 18-Jan-26 1000 200/1 100 USD Fixed 8.125 92.13 94.13 9.00 B- /B3 /B

Republic of Indonesia (S) USY68616AA22 21-Nov-18 1000 200/1 100 USD Fixed 4.000 103.13 105.13 2.37 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAB24 15-Mar-19 1500 200/1 100 USD Fixed 6.125 110.63 112.13 2.58 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAA41 21-Nov-22 1000 200/1 100 USD Fixed 3.300 93.88 95.38 4.04 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BD05 15-Apr-23 1500 200/1 100 USD Fixed 3.375 94.50 96.00 3.98 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BJ74 15-Jan-24 2000 200/1 100 USD Fixed 5.875 111.00 112.50 4.11 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAC07 10-Sep-24 1500 200/1 100 USD Fixed 4.350 98.00 99.50 4.42 (P)BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BG36 15-Jan-25 2000 200/1 100 USD Fixed 4.125 98.63 100.13 4.11 BB+ /Baa3 /BBB-

Republic of Indonesia USY7133MAC39 05-May-25 1100 200/1 100 USD Fixed 4.250 93.38 94.88 4.92 BB+ /Baa3 /BBB-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic of Indonesia (S) US71567RAD89 28-May-25 2000 200/1 100 USD Fixed 4.325 97.50 99.00 4.45 - /Baa3 /BBB-

Republic Of Indonesia XS1268430201 30-Jul-25 1250 100/1 100 EUR Fixed 3.375 98.38 99.88 3.39 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BB49 17-Jan-42 2250 200/1 100 USD Fixed 5.250 97.25 98.75 5.34 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BE87 15-Apr-43 1500 200/1 100 USD Fixed 4.625 90.50 92.00 5.17 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BK48 15-Jan-44 2000 200/1 100 USD Fixed 6.750 116.50 118.00 5.49 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BM04 15-Jan-45 2000 200/1 100 USD Fixed 5.125 96.25 97.75 5.28 BB+ /Baa3 /BBB-

Republic of Indonesia USY7133MAB55 05-May-45 500 200/1 100 USD Fixed 5.375 86.50 88.00 6.27 BB+ /Baa3 /BBB-

Republic Of Kazakhstan XS1120709669 14-Oct-24 1500 200/1 100 USD Fixed 3.875 91.50 93.00 4.83 BBB /Baa2 /BBB+

Republic Of Kazakhstan XS1263054519 21-Jul-25 2500 200/1 100 USD Fixed 5.125 98.00 99.50 5.19 - /Baa2 /BBB+

Republic Of Kazakhstan XS1120709826 14-Oct-44 1000 200/1 100 USD Fixed 4.875 81.63 83.13 6.12 BBB /Baa2 /BBB+

Republic Of Kazakhstan XS1263139856 21-Jul-45 1500 200/1 100 USD Fixed 6.500 98.38 99.88 6.51 BBB /Baa2 /BBB+

Republic Of Kenya XS1028951850 24-Jun-19 750 200/1 100 USD Fixed 5.875 100.25 101.75 5.37 B+ /- /B+

Republic Of Kenya XS1028952403 24-Jun-24 2000 200/1 100 USD Fixed 6.875 97.63 99.13 7.01 B+ /- /B+

Republic of Mozambique XS0969351450 11-Sep-20 850 200/1 100 USD Fixed 6.305 90.13 92.13 8.22 - /B1 /-

Republic Of Namibia XS0686701953 03-Nov-21 500 200/1 100 USD Fixed 5.500 107.25 108.75 3.91 - /Baa3 /BBB-

Republic Of Nigeria XS0944707651 12-Jul-18 500 200/1 100 USD Fixed 5.125 98.50 100.50 4.94 B+ /- /BB-

Republic Of Nigeria XS0584435142 28-Jan-21 500 200/1 100 USD Fixed 6.750 100.63 102.63 6.18 B+ /- /BB-

Republic Of Nigeria XS0944707222 12-Jul-23 500 200/1 100 USD Fixed 6.375 96.88 98.88 6.56 B+ /- /BB-

Republic Of Rwanda XS0925613217 02-May-23 400 200/1 100 USD Fixed 6.625 101.25 103.25 6.09 B+ /- /B+

Republic Of Senegal XS0625251854 13-May-21 500 200/1 100 USD Fixed 8.750 111.13 113.13 6.02 B+ /B1 /-

Republic Of Senegal XS1090161875 30-Jul-24 500 200/1 100 USD Fixed 6.250 96.25 98.25 6.51 B+ /B1 /-

Republic Of Seychelles XS0471464023 01-Jan-26 169 0.1/0.1 100 USD Step Cpn 7.000 96.13 99.13 7.82 - /- /BB-

Republic Of Slovenia XS0982708926 18-Feb-19 1500 200/1 100 USD Fixed 4.125 104.75 106.25 2.27 A- /Baa3 /BBB+

Republic Of Slovenia XS0982709221 18-Feb-24 2000 200/1 100 USD Fixed 5.250 109.88 111.38 3.68 A- /Baa3 /BBB+

Republic Of South Africa XS0250007498 05-Apr-16 750 50/1 100 EUR Fixed 4.500 101.75 103.25 -0.38 BBB- /Baa2 /BBB

Republic Of South Africa US836205AD62 23-Jun-17 141 1/1 100 USD Fixed 8.500 112.13 113.63 1.14 BBB- /Baa2 /BBB

Republic Of South Africa US836205AM61 27-May-19 2000 100/1 100 USD Fixed 6.875 113.50 115.00 2.70 BBB- /Baa2 /BBB

Republic Of South Africa US836205AN45 09-Mar-20 2000 100/1 100 USD Fixed 5.500 108.13 109.63 3.22 BBB- /Baa2 /BBB

Zar Sov Capital Fund (S) XS1113141441 24-Jun-20 500 200/1 100 USD Fixed 3.903 101.00 102.50 3.34 BBB- /Baa2 /BBB

Republic Of South Africa US836205AL88 30-May-22 1000 100/1 100 USD Fixed 5.875 110.38 111.88 3.87 BBB- /Baa2 /BBB

Republic Of South Africa US836205AQ75 17-Jan-24 1500 100/1 100 USD Fixed 4.665 102.13 103.63 4.15 BBB- /Baa2 /BBB

Republic Of South Africa US836205AR58 16-Sep-25 2000 200/1 100 USD Fixed 5.875 109.25 112.25 4.36 BBB- /Baa2 /BBB

Republic Of South Africa XS1090107159 24-Jul-26 500 100/1 100 EUR Fixed 3.750 100.38 103.38 3.38 BBB- /Baa2 /BBB


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic Of South Africa US836205AP92 08-Mar-41 750 100/1 100 USD Fixed 6.250 112.88 115.88 5.13 BBB- /Baa2 /BBB

Republic Of South Africa US836205AS32 24-Jul-44 1000 200/1 100 USD Fixed 5.375 99.75 102.75 5.19 BBB- /Baa2 /BBB

Republic Of Sri Lanka USY8137FAA67 14-Jan-19 1000 200/1 100 USD Fixed 6.000 102.13 103.63 4.84 B+ /B1 /BB-

Republic Of Sri Lanka USY8137FAB41 11-Apr-19 500 200/1 100 USD Fixed 5.125 99.25 100.75 4.90 B+ /B1 /BB-

Republic Of Sri Lanka USY8137FAC24 03-Jun-25 650 200/1 100 USD Fixed 6.125 97.88 99.38 6.21 - /B1 /BB-e

Republic Of Sri Lanka USY2029SAF12 04-Oct-20 1000 100/1 100 USD Fixed 6.250 102.13 104.13 5.32 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAG94 27-Jul-21 1000 200/1 100 USD Fixed 6.250 100.00 103.00 5.65 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAH77 25-Jul-22 1000 200/1 100 USD Fixed 5.875 97.13 100.13 5.85 B+ /B1 /BB-

Republic of Turkey Hazine M. (S) XS0975124180 10-Oct-18 1250 200/1 100 USD Fixed 4.557 104.25 105.25 2.82 - /Baa3 /BBB-

Republic Of Turkey US900123AX87 05-Jun-20 2000 2/1 100 USD Fixed 7.000 112.75 114.25 3.74 NR /Baa3 /BBB-

Republic Of Turkey XS0503454166 18-May-20 2000 50/1 100 EUR Fixed 5.125 111.75 113.25 2.18 NR /Baa3 /BBB-

Republic Of Turkey US900123CA66 23-Mar-23 1500 200/1 100 USD Fixed 3.250 91.50 93.00 4.34 - /Baa3 /BBB-

Republic Of Turkey XS1057340009 11-Apr-23 1000 100/1 100 EUR Fixed 4.125 106.13 107.63 3.00 - /Baa3 /BBB-

Republic Of Turkey US900123CF53 22-Mar-24 2500 200/1 100 USD Fixed 5.750 106.88 108.38 4.56 - /Baa3 /BBB-

Republic Of Turkey US900123CJ75 14-Apr-26 1500 200/1 100 USD Fixed 4.250 94.13 95.63 4.78 - /Baa3 /BBB-

Hazine Mustesarligi Varl (S) XS1141043296 25-Nov-24 1000 200/1 100 USD Fixed 4.489 97.00 98.50 4.69 - /Baa3 /BBB-

Republic Of Turkey US900123BG46 30-May-40 2000 100/1 100 USD Fixed 6.750 112.25 115.25 5.60 NR /Baa3 /BBB-

Republic Of Turkey US900123CB40 16-Apr-43 3000 200/1 100 USD Fixed 4.875 88.00 91.00 5.51 - /Baa3 /BBB-

Republic Of Turkey (S) XS0831353361 26-Mar-18 1500 200/1 100 USD Fixed 2.803 98.75 100.25 2.70 NR /Baa3 /BBB-

Republic Of Venezuela US922646AT10 15-Aug-18 753 1/1 100 USD Fixed 13.625 65.38 71.38 28.33 CCC /Caa3 /CCC

Republic of Vietnam (Socialist) USY9384RAA87 19-Nov-24 1000 200/1 100 USD Fixed 4.800 98.88 100.88 4.68 BB- /B1 /-

Republic Of Zambia XS0828779594 20-Sep-22 750 200/1 100 USD Fixed 5.375 83.25 85.75 8.04 B /- /B

Republic Of Zambia XS1056386714 14-Apr-24 1000 200/1 100 USD Fixed 8.500 95.38 97.88 8.85 B /- /B

Sharjah Sukuk Ltd (S) XS1106137687 17-Sep-24 750 200/1 100 USD Fixed 3.764 104.25 105.75 3.04 A /A3 /-

State Of Qatar XS0615235537 20-Jan-17 2000 200/1 100 USD Fixed 3.125 103.00 104.00 0.37 AA /Aa2 /-

State Of Qatar XS0423038875 09-Apr-19 1000 100/1 100 USD Fixed 6.550 116.38 117.88 1.53 AA /Aa2 /-



State Of Qatar XS0113419690 15-Jun-30 1400 10/1 100 USD Fixed 9.750 163.25 165.75 3.88 AA /Aa2 /-



State Of Qatar (S) XS0801656256 18-Jan-18 2000 200/1 100 USD Fixed 2.099 101.38 102.38 1.11 AA /Aa2 /-

State Of Qatar (S) XS0801656330 18-Jan-23 2000 200/1 100 USD Fixed 3.241 103.00 104.50 2.57 AA /Aa2 /-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Tunisia US066716AG65 16-Jul-19 485 200/1 100 USD Fixed 1.686 98.88 100.88 1.46 Not Rated

Tunisia (Banque Centrale de.) XS0222293382 22-Jun-20 400 50/1 100 EUR Fixed 4.500 102.00 104.00 3.59 NR /Ba3 /WD

Tunisia (Banque Centrale de.) US066716AB78 19-Sep-27 150 1/1 100 USD Fixed 8.250 115.50 117.50 6.18 NR /Ba3 /WD

United Rep Of Tanzania XS0896119897 09-Mar-20 600 200/1 100 USD FRN 6.397 99.88 102.38 5.90 Not Rated

Mumtalakat Sukuk Holding (S) XS1143085014 25-Nov-21 600 200/1 100 USD Fixed 4.000 100.00 101.50 3.73 BBB- /- /BBB-

Dubai Holding Comm Op XS0285303748 01-Feb-17 500 50/50 100 GBP Fixed 6.000 102.25 103.75 3.36 NR /WR /WD

IPIC XS0860583672 30-Nov-15 750 200/1 100 USD Fixed 1.750 99.75 100.75 -0.61 AA /Aa2 /AA

IPIC XS0558268628 15-Nov-15 1000 250/1 100 USD Fixed 3.125 100.00 101.00 -0.50 AA /Aa2 /AA

IPIC XS0605558856 14-May-16 1250 100/1 100 EUR Fixed 4.875 103.13 104.13 -0.46 AA /Aa2 /AA

IPIC XS0701035320 01-Mar-17 1500 200/1 100 USD Fixed 3.750 103.50 104.50 0.86 AA /Aa2 /AA

IPIC XS0860583912 30-May-18 800 100/1 100 EUR Fixed 2.375 104.63 105.63 0.36 AA /Aa2 /AA

IPIC XS0558268891 15-Nov-20 1500 250/1 100 USD Fixed 5.000 111.63 112.63 2.43 AA /Aa2 /AA

IPIC XS0605559821 14-Mar-21 1250 100/1 100 EUR Fixed 5.875 123.75 125.25 1.19 AA /Aa2 /AA

IPIC XS0701035676 01-Mar-22 1500 200/1 100 USD Fixed 5.500 114.63 115.63 2.87 AA /Aa2 /AA

IPIC XS0860584308 30-May-23 850 100/1 100 EUR Fixed 3.625 113.88 114.88 1.59 AA /Aa2 /AA

IPIC XS0701227075 01-Nov-41 750 200/1 100 USD Fixed 6.875 134.75 136.75 4.48 AA /Aa2 /AA

Kuwait Projects Co XS0457137841 17-Oct-16 500 100/1 100 USD Fixed 8.875 107.00 108.50 1.67 BBB- /Baa3 /-

Kuwait Projects Co XS1026105806 05-Feb-19 500 200/1 100 USD Fixed 4.800 105.25 106.75 2.76 BBB- /Baa3 /-

Kuwait Projects Co XS0526235535 15-Jul-20 500 100/1 100 USD Fixed 9.375 125.00 128.00 3.20 BBB- /Baa3 /-

Mubadala XS0613313104 20-Apr-16 750 200/1 100 USD Fixed 3.750 101.50 102.50 0.20 AA /Aa2 /AA

Mubadala XS0426993571 06-May-19 500 250/1 100 USD Fixed 7.625 119.50 120.50 1.93 AA /Aa2 /AA



Yasar Holdings XS1132450427 06-May-20 250 200/1 100 USD Fixed 8.875 104.38 106.88 6.97 - /B2 /B

Zagrebacki Holding Doo XS0309688918 10-Jul-17 300 50/50 100 EUR Fixed 5.500 95.25 96.75 7.36 B /Ba2 /-

Abu Dhabi Comm. Bk. (S) XS0708308845 22-Nov-16 500 200/1 100 USD Fixed 4.071 102.88 103.88 1.04 A /A1u /A+

Abu Dhabi Comm. Bk. XS0897453907 06-Mar-18 750 200/1 100 USD Fixed 2.500 100.50 102.00 1.71 A /A1u /A+

Abu Dhabi Comm. Bk. XS1040257062 04-Mar-19 750 200/1 100 USD Fixed 3.000 101.50 103.00 2.12 A /NR /A+

Abu Dhabi Comm. Bk. XS1110651012 16-Sep-19 600 200/1 100 USD Fixed 2.750 100.38 101.88 2.27 A /NR /A+

Adcb Finance Cayman Ltd XS1199968998 10-Mar-20 750 200/1 100 USD Fixed 2.625 99.75 101.25 2.34 A /- /A+

Abu Dhabi Comm. Bk. XS0897453493 06-Mar-23 750 200/1 100 USD Fixed 4.500 102.13 103.63 3.94 A- /NR /A

Diversified

Financial Institutions


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abu Dhabi Comm. Bk. AU3CB0221414 28-May-19 250 10/10 100 AUD Fixed 4.750 101.88 103.38 3.79 A /- /A+

Abu Dhabi Islm. Bank (S) XS0556042405 04-Nov-15 750 100/1 100 USD Fixed 3.745 99.75 101.25 -1.34 - /A2 /A+

Abu Dhabi Islm. Bank (S) XS0711035286 30-Nov-16 500 200/1 100 USD Fixed 3.780 102.25 103.75 0.91 - /A2 /A+

Access Bank Plc XS0807677496 25-Jul-17 350 200/1 100 USD Fixed 7.250 96.38 98.38 8.15 B+ /- /B

Access Bank Plc XS1078208334 24-Jun-21 400 200/1 100 USD Variable 9.250 93.25 95.25 10.77 B- /- /B-

ADIB Tier 1 (S) XS0851081660 Perpetual 1000 200/1 100 USD Variable 6.375 104.13 105.63 4.46 Not Rated

Africa Finance Corp XS1225008538 29-Apr-20 750 200/1 100 USD Fixed 4.375 100.13 102.13 3.88 - /A3 /-

African Bank Limited XS0638008051 15-Jun-16 350 200/1 100 USD Flat Trading 6.000 58.38 78.38 39.22 - /Caa2 /-

African Bank Limited XS0751016865 24-Feb-17 350 200/1 100 USD Flat Trading 8.125 62.50 82.50 25.47 - /Caa2 /-

African Export-Import Ba XS0650262875 27-Jul-16 500 200/1 100 USD Fixed 5.750 102.13 104.13 1.47 NR /Baa2 /BBB-

African Export-Import Ba XS0938043766 04-Jun-18 500 200/1 100 USD Fixed 3.875 99.63 101.63 3.27 NR /Baa2 /BBB-

African Export-Import Ba XS1091688660 29-Jul-19 700 200/1 100 USD Fixed 4.750 101.38 103.38 3.83 - /Baa2 /BBB-

AK Lease XS0914394688 17-Apr-18 250 200/1 100 USD Fixed 4.125 98.50 100.50 3.93 - /- /BBB-

Akbank USM0375YAJ75 24-Oct-17 500 150/1 100 USD Fixed 3.875 100.38 102.38 2.76 - /Baa3 /BBB-

Akbank USM0300LAC02 09-Mar-18 500 150/1 100 USD Fixed 6.500 106.00 108.00 3.25 - /Baa3 /BBB-

Akbank Tas XS1111101314 24-Jan-20 500 200/1 100 USD Fixed 4.000 96.38 98.38 4.40 - /Baa3 /BBB-

Akbank USM0375YAK49 24-Oct-22 500 150/1 100 USD Fixed 5.000 98.00 100.00 5.00 - /Baa3 /BBB-

Akbank XS1210422074 31-Mar-25 500 200/1 100 USD Fixed 5.125 94.38 95.88 5.68 - /Baa3 /BBB-

Albaraka Turk Katilim Ba (S) XS1082151868 30-Jun-19 350 200/1 100 USD Fixed 6.250 100.38 102.38 5.56 BB /- /-

Albaraka Turk Katilim (S) XS0927211754 07-May-23 200 200/1 100 USD Fixed 7.750 98.10 100.1 7.70 B /- /-

Al Hilal Bank (S) XS0977488294 08-Oct-18 500 200/1 100 USD Fixed 3.267 102.00 104.00 1.96 - /A1 /A+

Al Hilal Bank Tier 1 (S) XS1073217561 Perpetual 500 200/1 100 USD Variable 5.500 101.00 103.00 4.65 Not Rated

Ahli United Bank XS1133289832 Perpetual 400 200/1 100 USD Variable 6.875 102.63 104.63 5.74 Not Rated

Alternatifbank As XS1089556358 22-Jul-19 250 200/1 100 USD Fixed 3.125 98.75 100.75 2.92 - /- /A+

Astra Sedaya Finance Pt XS1210971682 01-Apr-18 300 200/1 100 USD Fixed 2.875 99.13 100.63 2.63 - /Baa3 /BBB-

Axis Bank/Dubai XS0463466028 30-Sep-15 350 100/1 100 USD Fixed 5.250 98.88 100.88 -0.60 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAA64 02-May-16 500 100/1 100 USD Fixed 4.750 100.50 102.50 1.32 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAB48 05-Sep-17 750 200/1 100 USD Fixed 5.125 104.63 106.13 2.09 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAC21 21-May-20 750 200/1 100 USD Fixed 3.250 99.00 101.00 3.02 BBB- /Baa3 /BBB-

Axis Bank/Singapore XS0308100667 28-Jun-22 60 100/1 100 USD Variable 7.125 102.88 105.38 4.14 - /Ba2 /-

Banco Daycoval Sa XS1046809171 19-Mar-19 500 150/1 100 USD Fixed 5.750 101.25 103.25 4.76 BB+ /Baa3 /BBB-

Bank Dhofar XS1233710380 Perpetual 300 200/1 100 USD Variable 6.850 99.25 101.25 6.54 Not Rated

Banco Do Brasil XS0955552178 25-Jul-18 1000 100/1 100 EUR Fixed 3.750 99.88 101.88 3.08 BBB- /Baa2 /BBB


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Banco Industr E Comrcl XS0552649021 25-Oct-15 400 100/1 100 USD Fixed 5.250 98.75 100.75 1.79 - /Baa3 /-

Bank Asya Tier 2 (S) XS0907295942 28-Mar-23 250 200/1 100 USD Variable 7.500 73.38 80.38 17.00 - /C /-

Bk Of Moscow (Kuznetski) XS0236336045 25-Nov-15 300 100/1 100 USD Variable 5.967 96.13 101.13 2.18 - /B1 /WD

Bank Muscat Saog XS0908549685 26-Mar-18 500 200/1 100 USD Fixed 2.500 99.13 101.13 2.06 A- /A1 /A-

Bank of Bahrain & Kuwait XS0553706135 28-Oct-15 500 100/1 100 USD Fixed 4.500 99.75 101.25 -0.96 - /Baa3 /BBB-

Bank Of Baroda/London XS0483734298 07-Oct-15 350 100/1 100 USD Fixed 4.750 99.38 100.88 -0.43 - /Baa3 /BBB-

Bank Of Baroda/London XS0594008517 24-Aug-16 500 200/1 100 USD Fixed 5.000 102.13 103.63 1.50 - /Baa3 /BBB-

Bank Of Baroda/London USY04342AA28 23-Jul-19 1000 200/1 100 USD Fixed 4.875 105.88 107.38 2.89 - /Baa3 /BBB-

Bank Of Baroda/London XS0301888615 25-May-22 300 100/1 100 USD Variable 6.625 102.63 105.13 3.65 NR /Ba2 /B+

Bank Of Ceylon USY0646EAR37 03-May-17 500 200/1 100 USD Fixed 6.875 102.13 104.63 4.08 - /B1 /BB-

Bank Of Ceylon XS0914798268 16-Apr-18 500 200/1 100 USD Fixed 5.325 99.38 101.88 4.57 - /- /BB-

Bank Of China US06120TAA60 13-Nov-24 3000 200/1 100 USD Fixed 5.000 102.38 103.88 4.48 BBB+ /Baa3 /BBB+

Bank Of China XS1122780106 Perpetual 39940 2000/10 100 CNY Variable 6.750 105.63 107.63 4.70 BB- /Ba2 /-

Bank Of India London XS0498932721 30-Sep-15 750 100/1 100 USD Fixed 4.750 99.25 100.75 -0.24 BBB- /Baa3 /-

Bank Of India London USY06865AA04 21-Sep-18 500 200/1 100 USD Fixed 3.625 100.88 102.88 2.66 BBB- /Baa3 /-

Bank Of India/Jersey XS1227592703 06-May-20 750 200/1 100 USD Fixed 3.125 98.00 100.00 3.12 BBB- /Baa3 /-

Bank Of India London XS0592238876 16-Feb-21 500 200/1 100 USD Fixed 6.250 111.63 113.63 3.52 BBB- /Baa3 /-

Bank Of India/Jersey XS0294208235 Perpetual 85 100/1 100 USD Variable 6.994 101.50 103.50 4.77 B+ /B3 /-

Bank Of Sharjah XS1117297272 08-Jun-20 500 200/1 100 USD Fixed 3.374 98.13 99.63 3.46 - /- /BBB+

Bank Saudi Fransi (S) XS0784910431 22-May-17 750 200/1 100 USD Fixed 2.947 101.25 103.25 1.11 A /- /A

Bawag P.S.K. XS0987169637 30-Oct-23 300 100/100 100 EUR Fixed 8.125 123.13 124.13 4.54 - /Ba1 /-

Banque Marocaine Du Comm XS0998123037 27-Nov-18 300 200/1 100 USD Fixed 6.250 104.63 105.63 4.40 - /Ba1 /-

Bbk XS1207170736 24-Mar-20 400 200/1 100 USD Fixed 3.500 98.38 99.38 3.65 - /Baa3 /BBB-

Burgan Bank XS0545106592 29-Sep-20 400 100/1 100 USD Fixed 7.875 112.50 114.50 4.67 BBB /Ba1 /-

Burgan Tier 1 Financing XS1106874198 Perpetual 500 200/1 100 USD Variable 7.250 99.38 101.38 6.86 Not Rated

Canara Bank London XS0595649608 09-Sep-16 350 200/1 100 USD Fixed 5.125 100.88 103.88 1.53 - /Baa3 /BBB-

Cbq Finance Ltd XS1079720212 24-Jun-19 750 200/1 100 USD Fixed 2.875 102.13 103.13 2.03 A- /A1 /-

Charming Light Investmen XS1104029027 03-Sep-19 1100 200/1 100 USD Fixed 3.750 99.13 101.13 3.45 - /Baa1 /A-

China Overseas Finance XS0984184316 29-Oct-18 500 200/1 100 USD Fixed 3.375 99.75 101.75 2.80 BBB+ /Baa1 /BBB+

Citic Securities Fin Mtn XS1130968453 30-Oct-19 650 200/1 100 USD Fixed 3.500 99.25 100.75 3.31 BBB+ /Baa1 /-

Commercial Bank Of Dubai XS0933999863 21-May-18 500 200/1 100 USD Fixed 3.375 101.75 103.25 2.17 - /Baa1 /A-

Commercial Bank of Qatar XS0771860003 11-Apr-17 500 200/1 100 USD Fixed 3.375 102.00 104.00 0.97 A- /A1 /-

Commercial Bank of Qatar XS0466365383 18-Nov-19 600 100/1 100 USD Fixed 7.500 118.50 120.50 2.43 BBB+ /Baa1 /-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Credit Bank of Moscow XS0924078453 13-Nov-18 500 200/1 100 USD Fixed 8.700 86.13 89.13 12.86 - /NR /BB-

Credit Bank of Moscow XS0879105558 01-Feb-18 500 200/1 100 USD Fixed 7.700 97.13 100.13 7.64 BB- /B1 /BB

Diamond Bank Plc XS1069387923 21-May-19 200 200/1 100 USD Fixed 8.750 93.00 95.50 10.20 B /- /B

Doha Bank XS0757032445 14-Mar-17 500 200/1 100 USD Fixed 3.500 102.13 103.63 1.21 A- /A2 /A+

Dubai Islamic Bank (S) XS0787130540 30-May-17 500 200/1 100 USD Fixed 4.752 103.75 105.75 1.53 - /Baa1 /A

Dib Sukuk Ltd (S) XS1241110300 03-Jun-20 750 200/1 100 USD Fixed 2.921 99.25 100.75 2.75 - /Baa1 /A

Dib Tier 1 Sukuk Ltd (S) XS0902330769 Perpetual 1000 200/1 100 USD Variable 6.250 103.00 105.00 4.73 Not Rated

Dib Tier 1 Sukuk 2 Ltd (S) XS1167284436 Perpetual 1000 200/1 100 USD Variable 6.750 105.00 107.00 5.26 Not Rated

Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 102.75 104.75 4.81 - /Ba1 /BB

Ebn Finance Co Bv XS1093771639 14-Aug-21 250 200/1 100 USD Variable 8.750 90.13 92.13 11.23 B- /- /-

Emirates Bank XS0272489187 31-Oct-16 83 100/1 100 USD FRN 1.497 92.38 97.38 3.65 NR /Baa3 /A

Emirates Bank XS0765257141 28-Mar-17 1000 200/1 100 USD Fixed 4.625 103.25 104.75 1.68 - /Baa1 /A+

Emirates Islamic Bank (S) XS0731642491 18-Jan-17 500 200/1 100 USD Fixed 4.718 103.13 104.63 1.48 - /Baa1 /A+

Emirates Islamic Bank (S) XS0803231827 11-Jan-18 500 200/1 100 USD Fixed 4.147 103.38 104.88 2.08 - /Baa1 /A+

Emirates Nbd Pjsc XS1138457590 19-Nov-19 1000 200/1 100 USD Fixed 3.250 100.75 102.25 2.69 - /Baa1 /A+

Emirates Nbd Pjsc XS1227814883 06-May-20 350 200/1 100 USD Fixed 3.000 99.63 101.13 2.74 - /Baa1 /A+

Emirates NBD XS0910935021 28-Mar-23 750 200/1 100 USD Variable 4.875 103.75 105.25 2.80 - /NR /A

Emirates NBD Tier 1 XS0935833292 Perpetual 1000 200/1 100 USD Variable 5.750 100.25 102.25 5.09 Not Rated

Emirates Nbd 2014 Tier 1 XS1111114135 Perpetual 500 200/1 100 USD Variable 6.375 101.50 103.50 5.58 Not Rated

Emirates Nbd Pjsc XS1207079499 23-Mar-22 550 100/1 100 EUR Fixed 1.750 95.50 97.00 2.24 - /Baa1 /A+

Emirates Nbd Pjsc AU3CB0220861 08-May-19 400 10/10 100 AUD Fixed 5.750 104.13 106.13 3.97 - /Baa1 /A+

Export Credit Bank Of Tu XS1028943089 23-Sep-21 500 200/1 100 USD Fixed 5.000 99.50 101.50 4.71 BB+ /Baa3 /BBB-

Export-Import Bk India XS0813393849 07-Aug-17 500 200/1 100 USD Fixed 4.000 102.13 104.13 1.89 BBB- /Baa3 /-

Export-Import Bk India XS1050464996 02-Oct-19 500 200/1 100 USD Fixed 3.875 102.50 104.50 2.72 BBB- /Baa3 /-

Export-Import Bk India XS1165130219 12-Aug-20 500 200/1 100 USD Fixed 2.750 97.50 99.50 2.86 BBB- /Baa3 /-

Export-Import Bk India XS0872917660 14-Jan-23 750 200/1 100 USD Fixed 4.000 101.00 102.50 3.61 BBB- /Baa3 /-

First Bank of Nigeria XS0957590689 07-Aug-20 300 200/1 100 USD Variable 8.250 89.88 92.88 11.10 B- /- /B-

First Bank of Nigeria XS1090370104 23-Jul-21 450 200/1 100 USD Variable 8.000 87.63 90.13 11.15 B- /- /B-

Fidelity Bank Plc XS0928527257 09-May-18 300 200/1 100 USD Fixed 6.875 87.25 89.75 11.29 B /- /B

Finansbank As XS0849733273 01-Nov-17 350 200/1 100 USD Fixed 5.150 99.75 102.75 3.85 - /Ba2 /BBB-

Finansbank As USM4R36CAA80 11-May-16 500 200/1 100 USD Fixed 5.500 99.50 102.50 2.17 - /Ba2 /BBB-

Finansbank As XS1063442484 30-Apr-19 500 200/1 100 USD Fixed 6.250 100.75 103.75 5.13 - /Ba2 /BBB-

First Gulf Bank XS0840538994 09-Oct-17 650 200/1 100 USD Fixed 2.862 102.00 103.00 1.46 - /A2 /A+


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

First Gulf Bank (S) XS0654587996 02-Aug-16 650 200/1 100 USD Fixed 3.797 101.63 103.13 0.62 - /A2 /A+

First Gulf Bank (S) XS0731930797 18-Jan-17 500 200/1 100 USD Fixed 4.046 103.00 104.50 0.91 - /A2 /A+

First Gulf Bank XS1193304596 24-Feb-20 750 200/1 100 USD Fixed 2.625 99.75 101.25 2.33 - /A2 /A+

Firstrand Bank Ltd XS0635404477 09-Jun-16 500 200/1 100 USD Fixed 4.375 101.75 103.25 0.50 BBB- /Baa2 /BBB

Gazprombk (Gpb Finance) XS0779213460 03-May-19 500 200/1 100 USD Fixed 7.250 97.13 101.13 6.90 BB- /B2 /BB

Gazprombk (Gpb Finance) XS1040726587 05-Sep-19 750 200/1 100 USD Fixed 4.960 92.13 96.13 6.04 BB+ /- /BB+

Gazprombk (Gpb Finance) XS0975320879 28-Dec-23 750 200/1 100 USD Variable 7.496 84.38 89.38 11.35 - /NR /B+

Gazprombk (Gpb Finance) XS0848137708 Perpetual 1000 200/1 100 USD Variable 7.875 79.50 82.50 16.05 - /NR /-

GIC Funding Ltd XS0859236092 28-Nov-17 500 200/1 100 USD Fixed 3.250 101.38 102.88 1.97 - /A2 /-

GIC Funding Ltd CH0198380237 16-Nov-15 300 5/5 100 CHF Fixed 2.750 99.63 101.13 -1.28 - /A2 /-

Guaranty Trust Bank XS0628652884 19-May-16 500 200/1 100 USD Fixed 7.500 100.25 102.25 4.54 B+ /- /B+

Guaranty Trust Bank XS0992162635 08-Nov-18 400 200/1 100 USD Fixed 6.000 94.13 96.13 7.35 B+ /- /B+

Gulf International Bank XS0863496633 11-Dec-17 500 200/1 100 USD Fixed 2.375 99.25 101.25 1.83 BBB+ /A3 /A

Haitong Intl Fin 2014 XS1107172535 11-Sep-19 600 200/1 100 USD Fixed 3.990 99.25 101.25 3.66 BBB /- /-

Haitong Intl Fin 2015 XS1170096454 29-Jul-20 700 200/1 100 USD Fixed 4.200 99.50 101.50 3.87 BBB /- /-

Hdfc Bank Ltd/Bah XS0897434949 06-Mar-18 500 200/1 100 USD Fixed 3.000 99.88 101.88 2.25 BBB- /Baa3 /-

Huarong Finance Co Ltd XS1086081707 17-Jul-17 300 200/1 100 USD Fixed 3.000 99.88 101.38 2.27 BBB+ /Baa1 /A

Huarong Finance Co Ltd XS1088292815 17-Jul-19 1200 200/1 100 USD Fixed 4.000 101.00 102.50 3.32 BBB+ /Baa1 /A

Icd Sukuk Co Ltd (S) XS1069869839 21-May-20 700 200/1 100 USD Fixed 3.508 98.88 100.88 3.31 Not Rated

Icd Funding Ltd XS1069870415 21-May-24 300 200/1 100 USD Fixed 4.625 98.88 100.88 4.50 Not Rated

Icici Bank Ltd/Dubai US45112FAC05 21-Feb-18 1000 200/1 100 USD Fixed 4.700 104.25 105.75 2.35 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAE60 22-May-19 1000 200/1 100 USD Fixed 4.800 105.75 107.25 2.77 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAG19 18-Mar-20 700 200/1 100 USD Fixed 3.500 101.25 102.75 2.86 BBB- /Baa3 /BBB-

IDBI Bank XS0832492267 26-Mar-18 500 200/1 100 USD Fixed 4.375 102.13 103.63 2.93 BB+ /Baa3 /BBB-

IDBI Bank XS0908349912 25-Jan-19 500 200/1 100 USD Fixed 3.750 100.00 101.50 3.29 BB+ /Baa3 /BBB-

IDBI Bank XS1048474396 25-Sep-19 300 200/1 100 USD Fixed 5.000 104.25 105.75 3.49 BB+ /Baa3 /BBB-

IDBI Bank XS1128264758 23-Apr-20 350 200/1 100 USD Fixed 4.125 100.88 102.38 3.57 BB+ /Baa3 /BBB-

Indian Overseas Bank/Hk XS0615783239 19-Oct-16 500 200/1 100 USD Fixed 5.000 102.63 103.63 1.93 BB+ /(P)Ba1 /-

Indian Overseas Bank/Hk XS0773015853 21-Feb-18 500 200/1 100 USD Fixed 4.625 102.63 104.13 2.93 BB+ /Ba1 /-

Ind & Comm Bk Chn/Dubai XS1237348070 26-May-20 500 200/1 100 USD Fixed 2.625 98.00 99.50 2.74 - /A1 /-

Int. Bank of Azerbaijan XS1076436218 11-Jun-19 500 200/1 100 USD Fixed 5.625 94.00 96.00 6.82 - /Ba3 /BB

Investcorp Sa XS0847495248 01-Nov-17 250 200/1 100 USD Fixed 8.250 106.25 108.75 4.11 - /Ba2 /BB

Investec Bank Ltd XS0807715098 24-Jul-17 300 200/1 100 USD Fixed 3.875 101.00 103.00 2.31 - /Baa2 /BBB-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Itau Unibanco Hldg Sa/Ky US46556MAB81 22-Jan-21 1250 100/1 100 USD Fixed 5.750 102.00 103.50 5.01 - /Baa3 /BBB-

Korea Exchange Bank XS1120608713 14-Oct-24 300 200/1 100 USD Fixed 4.250 101.88 103.88 3.75 BBB /Baa2 /BBB

Kuveyt Turk (S) XS0698260758 31-Oct-16 350 200/1 100 USD Fixed 5.875 103.63 105.13 1.65 - /- /BBB

Kuveyt Turk (S) XS1079236169 26-Jun-19 500 200/1 100 USD Fixed 5.162 104.13 105.63 3.60 - /- /BBB

Mashreqbank XS0283928264 24-Jan-17 354 100/100 100 USD FRN 1.420 94.75 98.75 2.29 BBB /Ba2 /A-

Mubadala Ge Capital Ltd US62476BAA89 10-Nov-19 500 200/1 100 USD Fixed 3.000 98.38 100.38 2.90 - /Baa2 /A

National Bank of Egypt XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 95.50 100.50 -169.48 - /B3 /B

National Bk Of Abu Dhabi XS0763531406 27-Mar-17 750 200/1 100 USD Fixed 3.250 102.88 103.88 0.86 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0206068 07-Mar-18 300 10/10 100 AUD Fixed 5.000 103.50 104.50 3.17 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0219392 19-Mar-19 400 10/10 100 AUD Fixed 4.750 103.38 104.38 3.45 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS0815939656 13-Aug-19 750 200/1 100 USD Fixed 3.000 102.88 103.88 1.99 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1186986904 11-Feb-20 750 200/1 100 USD Fixed 2.250 99.75 100.75 2.08 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1243334668 Perpetual 750 200/1 100 USD Variable 5.250 101.50 103.00 4.55 BBB- /Baa3 /-

National Bank of Kuwait Tier 1 XS1206972348 Perpetual 700 200/1 100 USD Variable 5.750 102.00 103.50 5.03 - /Baa3 /-

National Savings Bank USY62526AA99 18-Sep-18 750 200/1 100 USD Fixed 8.875 107.25 109.25 5.59 B+ /- /BB-

National Savings Bank USY62526AB72 10-Sep-19 250 200/1 100 USD Fixed 5.150 96.25 98.25 5.63 B+ /- /BB-

Nile Finance Ltd XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 98.38 100.38 -127.73 - /B3 /B

Noor Sukuk Co Ltd (S) XS1224417847 28-Apr-20 500 200/1 100 USD Fixed 2.788 98.25 99.75 2.84 - /- /A-

Qatar Islamic Bank (S) XS0545395765 07-Oct-15 750 100/1 100 USD Fixed 3.856 100.00 101.00 -2.00 - /- /A+

Qatar Islamic Bank (S) XS0841096497 10-Oct-17 750 200/1 100 USD Fixed 2.500 101.13 102.63 1.27 - /- /A+

Qatar National Bank XS0559355135 16-Nov-15 1500 200/1 100 USD Fixed 3.125 100.13 101.13 -0.93 A+ /Aa3 /AA-

Qatar National Bank XS0748305017 22-Feb-17 1000 200/1 100 USD Fixed 3.375 102.13 103.63 1.00 A+ /Aa3 /AA-

Qatar National Bank XS0854469599 14-Feb-18 1000 200/1 100 USD Fixed 2.125 99.75 101.25 1.62 A+ /Aa3 /AA-

QIIB Sukuk Funding Ltd (S) XS0843912808 18-Oct-17 700 200/1 100 USD Fixed 2.688 101.63 102.63 1.47 - /A2 /A+

Rakfunding Cayman Ltd XS1078355986 24-Jun-19 800 200/1 100 USD Fixed 3.250 100.25 101.75 2.77 - /Baa1 /BBB+

Russian Agricultural Bank XS0796426228 27-Dec-17 1300 200/1 100 USD Fixed 5.298 98.13 100.13 5.24 - /Ba2 /BB+

Russian Agricultural Bank XS0955232854 25-Jul-18 1300 200/1 100 USD Fixed 5.100 95.63 98.13 5.79 - /Ba2 /BB+

Saudi British Bank XS0559277743 12-Nov-15 600 100/100 100 USD Fixed 3.000 100.00 101.00 -0.74 A /- /A

Sberbank (Sb Cap Sa) XS0799357354 28-Jun-19 1000 200/1 100 USD Fixed 5.180 98.13 100.13 5.14 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0897427570 04-Mar-18 550 300/1 100 TRY Fixed 7.400 84.63 86.63 13.72 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0848530977 29-Oct-22 2000 200/1 100 USD Fixed 5.125 85.88 87.88 7.31 - /Ba2 /BB+

Sberbank (Sb Cap Sa) XS0935311240 23-May-23 1000 200/1 100 USD Fixed 5.250 81.63 83.63 8.12 - /- /BB+

Sberbank (Sb Cap Sa) XS1032750165 26-Feb-24 1000 200/1 100 USD Variable 5.500 82.50 84.50 10.87 - /- /BB+


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

SIB Sukuk Co. Ltd (S) XS0625554836 25-May-16 400 200/1 100 USD Fixed 4.715 102.38 103.38 0.49 BBB+ /- /BBB+

SIB Sukuk Co. Ltd (S) XS0916902769 16-Apr-18 500 200/1 100 USD Fixed 2.950 101.25 102.25 2.09 BBB+ /- /BBB+

State Bank India/London USU85528AB04 01-Aug-17 1250 200/1 100 USD Fixed 4.125 102.75 104.25 1.93 BBB- /Baa3 /BBB-

State Bank India/London USY81636AC94 18-Apr-18 1000 200/1 100 USD Fixed 3.250 100.88 102.38 2.33 BBB- /Baa3 /BBB-

State Bank India/London USY81647AA02 17-Apr-19 750 200/1 100 USD Fixed 3.622 101.88 103.38 2.65 BBB- /Baa3 /BBB-

State Bank India/London USY81647AB84 17-Apr-24 500 200/1 100 USD Fixed 4.875 106.25 107.75 3.82 BBB- /Baa3 /BBB-

State Bank Of India XS0287244627 Perpetual 400 100/1 100 USD Variable 6.439 101.63 104.63 3.72 BB /B1 /B

State Bank Of India XS0307996586 Perpetual 225 100/1 100 USD Variable 7.140 102.88 105.88 3.88 BB /B1 /-

Syndicate Bank/London XS0620328392 06-Nov-16 500 200/1 100 USD Fixed 4.750 100.75 103.75 1.70 BBB- /Baa3 /-

Syndicate Bank XS0841358103 12-Apr-18 500 200/1 100 USD Fixed 4.125 102.50 104.00 2.57 BBB- /Baa3 /-

Tamweel (S) XS0734046815 18-Jan-17 300 200/1 100 USD Fixed 5.154 103.25 105.25 1.48 - /Baa1 /A

Tc Ziraat Bankasi As XS1083936028 03-Jul-19 750 200/1 100 USD Fixed 4.250 98.63 100.63 4.07 - /Baa3 /BBB-

Turkiye Finans Varlik Kiralama (S) XS0922143382 02-May-18 500 200/1 100 USD Fixed 3.950 99.50 101.50 3.37 - /- /BBB

Turkiye Finans Varlik Kiralama (S) XS1057852912 24-Apr-19 500 200/1 100 USD Fixed 5.375 103.25 105.25 3.84 - /- /BBB

Turkiye Garanti Bankasi USM8931TAE93 13-Sep-17 600 200/1 100 USD Fixed 4.000 100.25 102.25 2.89 - /Baa3 /BBB

Turkiye Garanti Bankasi XS1057541838 17-Oct-19 750 200/1 100 USD Fixed 4.750 100.25 102.25 4.16 - /Baa3 /BBB

Turkiye Garanti Bankasi USM8931TAF68 13-Sep-22 750 200/1 100 USD Fixed 5.250 100.00 102.00 4.91 - /Baa3 /BBB

Turkiye Garanti Bankasi XS0935802495 23-May-18 175 200/1 100 AUD Fixed 5.500 99.75 101.75 4.81 - /Baa3 /BBB

Turkiye Halk Bankasi XS0806482948 19-Jul-17 750 200/1 100 USD Fixed 4.875 101.75 103.75 2.89 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1069383856 04-Jun-19 500 200/1 100 USD Fixed 4.750 99.75 101.75 4.25 - /Baa3 /BBB-

Turkiye Halk Bankasi XS0882347072 05-Feb-20 750 200/1 100 USD Fixed 3.875 95.00 97.00 4.62 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1188073081 11-Feb-21 500 200/1 100 USD Fixed 4.750 97.25 99.25 4.91 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0852697712 07-Nov-17 500 200/1 100 USD Fixed 3.875 99.50 102.00 2.95 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0982644774 21-Apr-19 500 200/1 100 USD Fixed 5.500 102.38 104.88 4.07 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS1079527211 25-Jun-21 750 200/1 100 USD Fixed 5.000 98.88 100.88 4.83 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0847042024 24-Oct-22 1000 200/1 100 USD Fixed 6.000 97.13 99.63 6.06 - /Ba2 /BB+

Turkiye Is Bankasi A.S XS0808632250 10-Oct-18 750 200/1 100 USD Fixed 3.750 99.00 100.00 3.75 - /Baa3 /BBB-

Turkiye Sinai Kalkinma B XS1117601796 30-Oct-19 350 200/1 100 USD Fixed 5.375 100.75 102.75 4.65 - /Baa3 /BBB-

Turkiye Sinai Kalkinma B XS1219733752 22-Apr-20 350 200/1 100 USD Fixed 5.125 98.88 100.88 4.91 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0916347759 15-Apr-18 600 200/1 100 USD Fixed 3.750 97.88 99.88 3.80 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0987355939 31-Oct-18 500 200/1 100 USD Fixed 5.000 101.25 103.25 3.92 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS1077629225 17-Jun-19 500 100/1 100 EUR Fixed 3.500 99.25 101.25 3.15 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0849728190 01-Nov-22 900 200/1 100 USD Fixed 6.000 96.50 98.50 6.26 - /Ba2 /BB+


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Turkiye Vakiflar Bankasi XS1175854923 03-Feb-25 500 200/1 100 USD Variable 6.875 96.50 98.50 7.27 - /Ba3 /BB+

Union Bank Of India Hk XS0819566182 22-Aug-17 350 200/1 100 USD Fixed 4.625 103.25 104.75 2.23 BBB- /Baa3 /-

Union Bank Of India Hk XS0923436264 25-Oct-18 350 200/1 100 USD Fixed 3.625 101.38 102.88 2.68 BBB- /Baa3 /-

Union Bank Of India Hk XS1062051161 28-Oct-19 350 200/1 100 USD Fixed 4.500 104.50 106.00 2.98 BBB- /Baa3 /-

Vnesheconombank(Veb) XS0524610812 09-Jul-20 1600 100/1 100 USD Fixed 6.902 95.88 98.88 7.17 BB+ /- /BBB-

VTB Bank XS0592794597 22-Feb-18 629 200/1 100 USD Fixed 6.315 99.63 102.63 5.20 BB+ /Ba1 /WD

VTB Bank XS0772509484 12-Apr-17 1836 200/1 100 USD Fixed 6.000 99.50 102.50 4.44 - /Ba1 /WD

VTB Bank XS0842078536 17-Oct-22 1500 200/1 100 USD Fixed 6.950 88.38 91.38 8.58 BB- /Ba3 /WD

Yapi Ve Kredi Bankasi As XS0994815016 03-Dec-18 500 200/1 100 USD Fixed 5.250 102.50 104.00 3.95 - /Baa3 /BBB

Yapi Ve Kredi Bankasi As XS1028938915 22-Oct-19 550 200/1 100 USD Fixed 5.125 100.75 102.25 4.53 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0874840688 22-Jan-20 500 200/1 100 USD Fixed 4.000 96.25 97.75 4.56 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0861979440 06-Dec-22 1000 200/1 100 USD Fixed 5.500 95.25 96.75 6.05 - /Ba2 /BBB-

Zenith Bank Plc XS1057929645 22-Apr-19 500 200/1 100 USD Fixed 6.250 93.38 95.38 7.70 B+ /- /B+

Aldar Sukuk (S) XS0993959583 03-Dec-18 750 200/1 100 USD Fixed 4.348 104.75 106.25 2.38 BBB- /Baa3 /-

China Os Grand Ocean Fin XS0996662853 23-Jan-19 400 200/1 100 USD Fixed 5.125 102.25 103.75 3.96 BBB- /Baa2 /BBB

Coca-Cola Icecek Uretim XS0975576165 01-Oct-18 500 200/1 100 USD Fixed 4.750 104.75 106.25 2.67 - /Baa3 /BBB

Country Garden Hldg Co USG24524AJ24 27-May-19 550 200/1 100 USD Fixed 7.875 106.13 108.13 5.20 BB+ /Ba1 /BB+

Country Garden Hldg Co USG24524AH67 04-Apr-21 750 200/1 100 USD Fixed 7.250 101.38 103.88 6.17 BB+ /Ba1 /-

Country Garden Hldg Co USG24524AG84 10-Jan-23 750 200/1 100 USD Fixed 7.500 101.38 103.38 6.74 BB+ /Ba1 /-

Damac (S) XS1054932154 09-Apr-19 650 200/1 100 USD Fixed 4.970 94.75 96.25 6.12 BB /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0997146203 25-Nov-16 300 200/1 100 USD Fixed 5.750 100.75 102.75 3.57 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0937237831 24-May-18 450 200/1 100 USD Fixed 5.750 100.63 102.63 4.73 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS1072498006 28-May-19 400 200/1 100 USD Fixed 6.500 102.63 104.63 5.14 B+ /- /-

Delhi International Airp XS1165980274 03-Feb-22 289 200/1 100 USD Fixed 6.125 101.63 103.63 5.45 BB /Ba1 /-

Difc Sukuk (S) XS1120403313 12-Nov-24 700 200/1 100 USD Fixed 4.325 99.75 101.25 4.16 BBB- /- /-

Dip Sukuk Ltd (S) XS1035007530 20-Feb-19 300 200/1 100 USD Fixed 4.291 102.00 104.00 3.09 BB+ /- /-

Edcon Ltd XS0596919026 01-Mar-18 250 150/1 100 USD Fixed 9.500 75.63 78.63 20.61 CCC- /Caa1 /-

Edcon Ltd XS0888936118 01-Mar-18 300 100/1 100 EUR Fixed 9.500 76.38 79.38 20.16 CCC- /Caa1 /-

Edcon Ltd XS0596918135 01-Mar-18 317 100/1 100 EUR Fixed 9.500 76.38 79.38 20.16 CCC- /Caa1 /-

Edcon Holdings Ltd XS0982713173 30-Jun-22 3 100/1 100 EUR Pay-In-Kind 5.000 30.25 35.25 25.30 C /Ca /-

Emaar (S) XS0586840588 03-Aug-16 500 200/1 100 USD Fixed 8.500 105.38 107.38 1.00 BBB- /Ba1 /-

Emaar (S) XS0805885349 18-Jul-19 500 200/1 100 USD Fixed 6.400 111.63 113.63 2.74 BBB- /Ba1 /-

Real Estate / Tourism


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Emaar Mall Group Sukuk (S) XS1075401726 18-Jun-24 750 200/1 100 USD Fixed 4.564 103.13 104.63 3.94 BBB- /Baa2 /-

FlyDubai (S) XS1137967409 26-Nov-19 500 200/1 100 USD Fixed 3.776 101.75 103.25 2.97 Not Rated

Franshion Brilliant Ltd XS1038803190 19-Mar-19 500 200/1 100 USD Fixed 5.750 104.75 106.75 3.74 BBB- /Baa3 /BBB-

Greenland Glb Invst XS1122384685 17-Oct-17 500 200/1 100 USD Fixed 3.500 98.25 100.25 3.38 BBB /Baa3 /BBB-

Indiabulls - Century Ltd XS1118059200 12-Nov-19 175 200/1 100 USD Fixed 10.250 94.75 97.25 11.07 B+ /B1 /B+

Jafz Sukuk Ltd (S) XS0794821453 19-Jun-19 650 200/1 100 USD Fixed 7.000 113.13 115.13 2.84 - /Ba1 /BBB-

King Power Capital Ltd XS1125289626 03-Nov-19 300 200/1 100 USD Fixed 3.875 101.00 103.00 3.11 BBB /Baa3 /-

King Power Capital Ltd XS1125272143 03-Nov-24 700 200/1 100 USD Fixed 5.625 105.00 107.00 4.68 BBB /Baa3 /-

Lodha Developers Intl Lt XS1148395582 13-Mar-20 200 200/1 100 USD Fixed 12.000 99.75 101.75 11.49 - /Ba3 /B+

Maf Global Securities XS0800825845 05-Jul-19 500 200/1 100 USD Fixed 5.250 107.38 109.38 2.71 BBB /- /BBB

Maf (S) XS0742399198 07-Feb-17 400 200/1 100 USD Fixed 5.850 104.75 106.75 1.30 BBB /- /BBB

Maf Global Securities XS1064799841 07-May-24 500 200/1 100 USD Fixed 4.750 103.50 105.00 4.06 BBB /- /BBB

Maf Global Securities XS0939678792 Perpetual 500 200/1 100 USD Variable 7.125 108.50 110.50 3.65 BB+ /- /BB+

Marfrig Holding Europe B USN54468AC22 20-Sep-21 51 200/1 100 USD Fixed 11.250 100.13 102.63 10.44 B+ /B2 /B+

Nakheel Sukuk (S) XS0624017371 25-Aug-16 4390 500/10 100 AED Fixed 10.000 105.63 107.63 2.61 Not Rated

Qatari Diar XS0527351653 21-Jul-20 2500 100/1 100 USD Fixed 5.000 111.38 112.88 2.24 AA /Aa2 /-

Shimao Ppty Hldng Ltd XS0872804207 14-Jan-20 800 200/1 100 USD Fixed 6.625 101.75 103.75 5.41 BB /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1013209017 22-Jan-21 600 200/1 100 USD Fixed 8.125 104.50 106.50 6.42 BB /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1157365070 10-Feb-22 1100 200/1 100 USD Fixed 8.375 103.63 105.63 7.12 BB /Ba3 /BB+

Sino Ocean Lnd Trs Fin I XS1089807025 30-Jul-19 500 200/1 100 USD Fixed 4.625 101.13 103.13 3.77 BBB- /Baa3 /BBB-

Sino Ocean Lnd Trs Fin I XS1090864528 30-Jul-24 700 200/1 100 USD Fixed 6.000 102.50 104.50 5.36 BBB- /Baa3 /BBB-

Sunac China Holdings Ltd XS0909370651 05-Apr-18 500 200/1 100 USD Fixed 9.375 101.75 103.25 7.99 B /B2 /BB-

Vrg Linhas Aereas Sa USP98079AB59 12-Feb-23 35 200/1 100 USD Fixed 10.750 85.38 87.38 13.47 B /- /B-

Xinyuan Real Estate XS0998964935 06-Jun-19 200 200/1 100 USD Fixed 13.000 89.38 92.38 15.70 B- /- /B

Bahrain Telecom. XS0927183441 01-May-20 519 200/1 100 USD Fixed 4.250 100.13 101.63 3.87 BB+ /- /BBB-

Bharti Airtel Ltd USY0889VAA80 10-Jun-25 1000 200/1 100 USD Fixed 4.375 100.75 102.25 4.09 BBB- /Baa3 /BBB-

Banglalink Digital Comm USY0629LAA53 06-May-19 300 200/1 100 USD Fixed 8.625 102.13 104.13 7.34 BB- /B1 /-

Bharti Airtel Internatio XS1028954953 20-May-21 750 100/1 100 EUR Fixed 3.375 105.00 106.50 2.17 BBB- /Baa3 /BBB-

Bharti Airtel USN1384FAA32 11-Mar-23 1500 200/1 100 USD Fixed 5.125 106.13 107.63 3.95 BBB- /Baa3 /BBB-

Bharti Airtel Internatio USN1384FAB15 20-May-24 1000 200/1 100 USD Fixed 5.350 107.75 109.25 4.09 BBB- /Baa3 /BBB-

Etisalat XS1077881743 18-Jun-19 900 200/1 100 USD Fixed 2.375 100.13 101.13 2.07 AA- /Aa3 /A+

Etisalat XS1077883012 18-Jun-24 500 200/1 100 USD Fixed 3.500 102.50 103.50 3.05 AA- /Aa3 /A+

Telecommunications / IT


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Etisalat XS1077882121 18-Jun-21 1200 100/1 100 EUR Fixed 1.750 102.38 103.38 1.15 AA- /Aa3 /A+

Etisalat XS1077882394 18-Jun-26 1200 100/1 100 EUR Fixed 2.750 107.25 108.25 1.90 AA- /Aa3 /A+

Helios Towers Finance Nl XS1081230879 15-Jul-19 250 200/1 100 USD Fixed 8.375 84.63 87.13 12.61 B /- /B

Mtn Mauritius Invstments XS1128996425 11-Nov-24 750 200/1 100 USD Fixed 4.755 100.13 102.13 4.47 BBB /Baa2 /-

MTS International XS0921331509 30-May-23 500 200/1 100 USD Fixed 5.000 89.38 92.38 6.25 BB+ /Ba1 /BB+

Qatar Telecom XS0549116290 14-Oct-16 1000 200/1 100 USD Fixed 3.375 102.13 103.13 0.73 A- /A2 /A+

Qatar Telecom XS0432791571 10-Jun-19 600 100/1 100 USD Fixed 7.875 120.88 122.38 1.82 A- /A2 /A+

Qatar Telecom XS0549116530 16-Feb-21 1000 200/1 100 USD Fixed 4.750 108.25 110.25 2.74 A- /A2 /A+

Qatar Telecom XS0866438475 21-Feb-23 1000 200/1 100 USD Fixed 3.250 96.13 98.63 3.46 A- /A2 /A+

Qatar Telecom XS0551307100 19-Oct-25 750 200/1 100 USD Fixed 5.000 107.25 109.75 3.84 A- /A2 /A+

Qatar Telecom XS0880134258 31-Jan-28 500 200/1 100 USD Fixed 3.875 95.25 97.75 4.11 A- /A2 /A+

Qatar Telecom XS0881740384 31-Jan-43 500 200/1 100 USD Fixed 4.500 99.00 101.50 4.41 A- /A2 /A+

Millicom Intl Cellular XS1204091588 15-Mar-25 500 200/1 100 USD Fixed 6.000 97.88 99.88 6.02 - /Ba2 /BB+

Naspers USN5946FAA59 28-Jul-17 700 100/1 100 USD Fixed 6.375 105.38 107.38 2.52 - /Baa3 /BB+

Naspers USN5946FAB33 18-Jul-20 1000 200/1 100 USD Fixed 6.000 107.00 109.00 3.98 - /Baa3 /BB+

Naspers USN5946FAC16 21-Jul-25 1200 200/1 100 USD Fixed 5.500 100.25 102.25 5.20 BBB- /Baa3 /BB+

Oi Sa USP18445AG42 10-Feb-22 1500 200/1 100 USD Fixed 5.750 78.25 80.25 9.94 BB+ /Ba2 /BB

Ottawa Holdings Pte Ltd USY6589AAA44 16-May-18 365 200/1 100 USD Fixed 5.875 75.00 77.00 16.53 B+ /B2 /-

Reliance Communication XS1216623022 06-Nov-20 300 200/1 100 USD Fixed 6.500 101.63 103.63 5.70 - /Ba3 /BB-

Rolta LLC USU77587AA83 16-May-18 127 200/1 100 USD Fixed 10.750 85.63 89.13 15.71 BB- /- /BB-

Rolta Americas Llc USU77583AA79 24-Jul-19 373 200/1 100 USD Fixed 8.875 75.50 76.50 17.31 BB- /- /BB-

Tbg Global Pte Ltd XS1165340883 10-Feb-22 350 200/1 100 USD Fixed 5.250 96.50 98.50 5.53 BB /- /BB

Telecom Italia Spa XS0195160329 24-Jun-19 850 50/50 100 GBP Fixed 6.375 109.13 110.63 3.40 BB+ /Ba1 /BBB-

Telemar Norte Leste Sa USP9037HAL70 23-Oct-20 1787 100/1 100 USD Fixed 5.500 84.63 86.63 8.75 BB+ /Ba1 /BB

Turk Telekomunikasyon As XS1028952155 19-Jun-19 500 200/1 100 USD Fixed 3.750 98.75 100.75 3.54 BBB- /- /BBB-

Turk Telekomunikasyon As XS1028951264 19-Jun-24 500 200/1 100 USD Fixed 4.875 97.63 99.63 4.93 BBB- /- /BBB-

Vimpelcom Holdings XS0889401054 13-Feb-19 571 200/1 100 USD Fixed 5.200 97.00 99.00 5.52 BB /Ba3 /-

Vimpelcom Holdings Bv XS0889401724 13-Feb-23 983 200/1 100 USD Fixed 5.950 90.50 92.50 7.26 BB /Ba3 /-

Ajecorp Bv USN01766AA73 14-May-22 450 150/1 100 USD Fixed 6.500 75.38 77.38 11.38 BB- /- /BB

Afren Plc USG01283AD52 01-Feb-16 253 200/1 100 USD Defaulted 11.500 43.88 46.38 239.19 D /- /C

Afren Plc USG01283AF01 08-Apr-19 250 200/1 100 USD Defaulted 10.250 29.88 32.38 52.79 D /- /C

Afren Plc USG01283AG83 09-Dec-20 360 200/1 100 USD Defaulted 6.625 41.88 44.38 25.57 D /- /C

Industrials / Energy


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Anglogold Holdings Plc US03512TAD37 30-Jul-20 1250 1/1 100 USD Fixed 8.500 101.63 103.63 7.43 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAA97 15-Apr-20 700 1/1 100 USD Fixed 5.375 91.50 93.50 7.02 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAC53 01-Aug-22 750 1/1 100 USD Fixed 5.125 85.50 87.50 7.45 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAB70 15-Apr-40 300 1/1 100 USD Fixed 6.500 80.50 82.50 8.16 BB+ /Baa3 /-

Bharat Petroleum (BPCL) XS0848436365 25-Oct-22 500 200/1 100 USD Fixed 4.625 102.63 104.63 3.88 - /Baa3 /BBB-

Bharat Petroleum Corp XS1227064430 08-May-25 500 200/1 100 USD Fixed 4.000 97.38 99.38 4.08 - /Baa3 /BBB-

China Automation Group XS0615048260 20-Apr-16 72 200/1 100 USD Fixed 7.750 99.25 101.25 5.90 B+ /B1 /-

China Construct Bk Asia XS1100009874 20-Aug-24 750 200/1 100 USD Variable 4.250 100.13 102.13 3.68 - /Baa2 /A-

China Hongqiao Group XS1081333921 26-Jun-17 400 200/1 100 USD Fixed 7.625 99.25 101.25 6.90 BB /- /BB

China Hongqiao Group XS1132125946 03-May-18 300 200/1 100 USD Fixed 6.875 97.38 99.38 7.12 BB /- /BB

Chinalco Finance XS1150454822 11-Dec-19 500 200/1 100 USD Fixed 3.625 101.13 102.63 2.97 - /A1 /-

China Oil And Gas Group USG2115XAA66 25-Apr-18 350 200/1 100 USD Fixed 5.250 97.88 99.88 5.29 BB /Ba1 /-

China Oil And Gas Group XS1132375897 07-May-20 300 200/1 100 USD Fixed 5.000 94.63 96.63 5.82 BB /Ba1 /-

Cnpc General Capital Ltd XS1143051115 25-Nov-17 300 200/1 100 USD FRN 1.177 98.38 100.38 1.04 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143073788 25-Nov-17 500 200/1 100 USD Fixed 1.950 98.25 100.25 1.84 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143081963 25-Nov-19 700 200/1 100 USD Fixed 2.700 98.63 100.63 2.54 AA- /Aa3 /A+

Cimento Tupi Sa USP9159EAA03 11-May-18 185 2/1 100 USD Defaulted 9.750 43.88 46.88 42.98 D /- /C

Cimpor Financial Opertns USN20137AD23 17-Jul-24 750 200/1 100 USD Fixed 5.750 78.25 80.25 9.01 BB- /- /BB

Citic Ltd XS0758793342 21-Jan-18 1100 200/1 100 USD Fixed 6.875 108.25 110.25 2.55 BBB+ /A3 /-

Citic Ltd XS0912154381 10-Apr-20 500 200/1 100 USD Fixed 6.375 110.88 112.88 3.37 BBB+ /A3 /-

Cliffs Natural Resources US18683KAA97 15-Mar-20 327 2/1 100 USD Fixed 5.900 30.38 35.38 35.24 B /B3 /-

Cnpc General Capital Ltd USG22004AF54 14-May-17 750 200/1 100 USD FRN 1.175 98.38 100.38 1.00 A+ /A1 /A+

Cnpc General Capital Ltd USG22004AG38 14-May-19 750 200/1 100 USD Fixed 2.750 98.75 100.75 2.54 A+ /A1 /A+

Colbun Sa USP2867KAE66 10-Jul-24 500 200/1 100 USD Fixed 4.500 99.25 101.25 4.33 BBB- /- /BBB

Dana Gas (C) (S) XS0914266415 31-Oct-17 364 45/0.01 100 USD Fixed 7.000 80.88 87.88 13.37 Not Rated

Dana Gas (S) XS0914266845 31-Oct-17 425 45/0.01 100 USD Fixed 9.000 84.13 88.13 15.38 Not Rated

DEWA XS0551313926 21-Oct-16 500 100/1 100 USD Fixed 6.375 104.50 106.50 0.95 - /Baa2 /WD

DEWA XS0551313686 21-Oct-20 1500 100/1 100 USD Fixed 7.375 120.00 122.00 2.80 - /Baa2 /WD

DEWA (S) XS0897680558 05-Mar-18 1000 200/1 100 USD Fixed 3.000 101.13 103.13 1.75 BBB /- /-

Dolphin Energy Ltd USM28368AA21 15-Jun-19 657 100/1 100 USD Fixed 5.888 107.88 109.38 3.28 - /A1 /A+

Dolphin Energy Ltd USM28368AB04 15-Dec-21 1300 200/1 100 USD Fixed 5.500 113.50 115.00 2.90 - /A1 /A+

Doric Nimrod Air 2012-1A US258258AA01 30-Nov-22 365 200/1 100 USD Fixed 5.125 104.50 106.00 4.16 - /A3 /-

Dp World Ltd (C) XS1078764302 19-Jun-24 1000 200/200 100 USD Fixed 1.750 111.13 112.63 0.31 - /Baa3 /BBB-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

DP World XS0308427581 02-Jul-37 1750 100/10 100 USD Fixed 6.850 110.25 111.75 5.89 NR /Baa3 /BBB-

DP World (S) XS0307408152 02-Jul-17 1500 100/10 100 USD Fixed 6.250 107.00 108.50 1.70 NR /Baa3 /BBB-

Dp World Ltd XS1234270921 18-May-20 500 200/1 100 USD Fixed 3.250 99.88 101.38 2.94 - /Baa3 /BBB-

Emirates Airlines XS0632833553 08-Jun-16 1000 200/1 100 USD Fixed 5.125 101.75 103.25 1.22 Not Rated

Emirates Airlines (S) XS0904232310 19-Mar-23 758 200/1 100 USD Fixed 3.875 101.38 102.88 3.44 Not Rated

Emirates Airlines XS0885065887 06-Feb-25 714 200/1 100 USD Fixed 4.500 100.38 101.88 4.26 Not Rated

Emirates Airlines (S) XS1203164782 31-Mar-25 898 200/1 100 USD Fixed 2.471 99.25 100.75 2.38 Not Rated

Eskom Holdings Soc Ltd XS0579851949 26-Jan-21 1750 200/1 100 USD Fixed 5.750 96.13 98.13 6.16 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS0958072240 06-Aug-23 1000 200/1 100 USD Fixed 6.750 99.13 101.13 6.57 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS1187065443 11-Feb-25 1250 200/1 100 USD Fixed 7.125 100.00 102.00 6.84 BB+ /Ba1 /-

Exim Sukuk Malaysia (S) XS0981802738 19-Feb-19 300 200/1 100 USD Fixed 2.874 99.38 101.38 2.46 - /A3 /A-

Fibria Overseas Finance US31572UAE64 12-May-24 600 2/1 100 USD Fixed 5.250 99.38 101.38 5.05 BBB- /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0276455937 22-Mar-17 500 50/1 100 EUR Fixed 5.136 101.88 103.38 2.96 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0805570354 19-Jul-22 1000 200/1 100 USD Fixed 4.950 89.88 92.88 6.23 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0974126186 25-Sep-20 500 100/1 100 GBP Fixed 5.338 90.13 95.13 6.47 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS1038646078 26-Feb-21 750 100/1 100 EUR Fixed 3.600 90.75 93.75 4.91 BB+ /Ba1 /BBB-

Gems Mea Sukuk Ltd (S) XS0995041539 Perpetual 200 150/1 100 USD Variable 12.000 114.25 116.25 6.44 Not Rated

General Electric XS0880289292 30-Jan-43 700 200/1 100 USD Fixed 4.625 97.75 99.75 4.64 AA+ /A1 /-

Global Liman Isletmeleri XS1132825099 14-Nov-21 250 200/1 100 USD Fixed 8.125 87.38 89.88 10.35 - /B1 /BB-

Gol Finance US38045UAC45 03-Apr-17 84 2/1 100 USD Fixed 7.500 98.75 101.25 6.68 - /B3 /B-

Gold Fields Orogen Hold XS0547082973 07-Oct-20 1000 200/1 100 USD Fixed 4.875 86.25 88.75 7.54 BB+ /Ba1 /-

Greenko Dutch Bv USN3700LAA37 01-Aug-19 550 200/1 100 USD Fixed 8.000 93.63 96.13 9.18 B /- /B

Indian Oil Corp Ltd XS0654493823 02-Aug-21 500 200/1 100 USD Fixed 5.625 108.38 111.38 3.50 - /Baa3 /BBB-

Indian Oil Corp Ltd XS0955024236 01-Aug-23 500 200/1 100 USD Fixed 5.750 109.63 111.63 4.03 - /Baa3 /BBB-

Indian Railway Finance C XS0602696618 30-Mar-16 200 200/1 100 USD Fixed 4.406 100.00 102.00 1.30 BBB- /Baa3 /BBB-

Indian Railways Finance Co. XS0836520717 10-Oct-17 300 200/1 100 USD Fixed 3.417 99.88 102.88 2.06 BBB- /Baa3 /BBB-

Jsw Steel Ltd XS1133588233 12-Nov-19 500 200/1 100 USD Fixed 4.750 89.00 91.00 7.24 - /Ba1 /BB+

Klabin Finance Sa USL5828LAA72 16-Jul-24 500 200/1 100 USD Fixed 5.250 95.63 97.63 5.59 BBB- /- /BBB-

Kuwait Energy Plc XS1086694111 04-Aug-19 250 200/1 100 USD Fixed 9.500 97.00 99.00 9.81 B- /- /B-

Maoye International Hold USG5804GAE47 19-May-17 300 200/1 100 USD Fixed 7.750 97.50 100.50 7.43 BB- /Ba3 /-

Masisa USP6460HAA34 05-May-19 300 200/1 100 USD Fixed 9.500 99.00 102.00 8.85 BB- /- /BB

Millenium Offshore Services USY53653AA28 15-Feb-18 225 200/1 100 USD Fixed 9.500 102.00 105.00 6.01 B+ /B2 /-

Minsur Sa USP6811TAA36 07-Feb-24 450 150/1 100 USD Fixed 6.250 104.25 106.25 5.33 BBB- /Baa3 /BBB-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Nakilat Inc USY62014AB48 31-Dec-33 267 100/1 100 USD Fixed 6.267 114.75 117.75 4.80 A+ /A1 /A

Nitrogenmuvek Vegyipari XS0928972909 21-May-20 200 200/1 100 USD Fixed 7.875 95.25 97.25 8.58 B+ /- /BB-

Noble Group Ltd XS0906440333 20-Mar-18 400 200/1 100 USD Fixed 3.625 90.50 92.50 6.79 BBB- /Baa3 /BBB-

Noble Group Ltd USG6542TAE13 29-Jan-20 1209 100/1 100 USD Fixed 6.750 98.25 100.25 6.68 BBB- /Baa3 /BBB-

Norilsk Nickel OJSC XS0922134712 30-Apr-18 750 200/1 100 USD Fixed 4.375 99.00 101.00 3.98 BBB- /Ba1 /BBB-

Norilsk Nickel OJSC XS0982861287 28-Oct-20 1000 200/1 100 USD Fixed 5.550 98.63 101.13 5.30 BBB- /Ba1 /BBB-

Novolipetsk Steel OJSC XS0808632847 19-Feb-18 708 200/1 100 USD Fixed 4.450 97.00 99.00 4.87 BB+ /Ba1 /BBB-

Novolipetsk Steel OJSC XS0783934325 26-Sep-19 471 200/1 100 USD Fixed 4.950 95.63 98.13 5.46 BB+ /Ba1 /BBB-

NTPC Ltd XS0245398226 02-Mar-16 300 100/1 100 USD Fixed 5.875 100.63 102.63 1.25 BBB- /- /BBB-

NTPC Ltd XS0648477593 14-Jul-21 500 200/1 100 USD Fixed 5.625 109.50 111.50 3.47 BBB- /- /BBB-

NTPC Ltd XS0835676353 03-Oct-22 500 200/1 100 USD Fixed 4.750 104.38 106.38 3.73 BBB- /- /BBB-

NTPC Ltd XS1143390679 26-Nov-24 500 200/1 100 USD Fixed 4.375 100.88 102.88 4.00 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043011 25-Apr-24 1250 200/1 100 USD Fixed 5.625 104.50 106.00 4.77 BBB- /- /BBB-

Office Cherifien Des Pho XS1221677120 22-Oct-25 1000 200/1 100 USD Fixed 4.500 95.63 97.13 4.86 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043367 25-Apr-44 600 200/1 100 USD Fixed 6.875 104.75 106.25 6.40 BBB- /- /BBB-

Oil India Ltd XS1057074871 17-Apr-19 500 200/1 100 USD Fixed 3.875 101.75 103.75 2.80 - /Baa2 /BBB-

Oil India Ltd XS1056232322 17-Apr-24 500 200/1 100 USD Fixed 5.375 107.63 109.63 4.05 - /Baa2 /BBB-

Oman Electricity XS1117297355 07-May-25 1000 200/1 100 USD Fixed 3.958 96.50 98.00 4.21 BBB+ /A3 /-

Ongc Videsh Ltd XS0927643030 07-May-18 300 200/1 100 USD Fixed 2.500 98.75 100.25 2.40 BBB- /Baa2 /-

Ongc Videsh Ltd XS1084957155 15-Jul-19 750 200/1 100 USD Fixed 3.250 100.00 101.50 2.84 BBB- /Baa2 /-

Ongc Videsh Ltd XS0922882344 07-May-23 500 200/1 100 USD Fixed 3.750 97.50 99.00 3.90 BBB- /Baa2 /-

Ongc Videsh Ltd XS1079848369 15-Jul-24 750 200/1 100 USD Fixed 4.625 103.00 104.50 4.02 BBB- /Baa2 /-

Petrobras Global Finance US71647NAJ81 17-Mar-17 1400 2/1 100 USD FRN 2.643 96.00 98.00 3.94 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAL38 17-Mar-20 500 2/1 100 USD FRN 3.163 89.63 91.63 5.22 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAL54 06-Oct-16 899 2/1 100 USD Fixed 6.125 98.75 102.75 3.68 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAG43 17-Mar-17 1600 2/1 100 USD Fixed 3.250 96.13 98.13 4.46 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAB55 15-Jan-19 2000 2/1 100 USD Fixed 3.000 89.25 91.25 5.84 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAH26 17-Mar-20 1500 2/1 100 USD Fixed 4.875 91.25 93.25 6.59 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAR25 27-Jan-21 5250 2/1 100 USD Fixed 5.375 90.63 93.63 6.79 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAF69 20-May-23 3500 2/1 100 USD Fixed 4.375 82.50 84.50 6.99 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAM11 17-Mar-24 2500 2/1 100 USD Fixed 6.250 92.00 94.00 7.20 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAK54 17-Mar-44 1000 2/1 100 USD Fixed 7.250 87.63 89.63 8.19 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAN93 5-Jun-2115 2500 2/1 100 USD Fixed 6.850 79.25 81.25 8.43 BBB- /Ba2 /BBB-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Petroleos De Venezuela S USP7807HAK16 02-Nov-17 6150 0.1/0.1 100 USD Fixed 8.500 64.50 67.00 29.68 CCC /- /CCC

PLN Indonesia US71568QAA58 22-Nov-21 1000 200/1 100 USD Fixed 5.500 104.38 106.88 4.24 BB /Baa3 /BBB-

Power Grid Corp Of India XS0875759184 17-Jan-23 500 200/1 100 USD Fixed 3.875 97.75 100.25 3.84 BBB- /- /BBB-

Pratama Agung XS1179926750 24-Feb-20 300 200/1 100 USD Fixed 6.250 95.88 97.88 6.80 BB- /- /BB-

Puma Intl Financing XS1022807090 01-Feb-21 1000 200/1 100 USD Fixed 6.750 101.13 103.13 5.75 - /Ba3 /BB

Ras Laffan Lng 3 USM8222MAB83 30-Sep-16 226 250/1 100 USD Fixed 5.832 102.13 104.13 2.16 A /Aa3 /A+

Ras Laffan Lng Ii USM8221WAA91 30-Sep-20 802 250/1 100 USD Fixed 5.298 107.00 109.00 3.38 A /Aa3 /A+

Reliance Holding USU75888AA26 19-Oct-20 1000 250/1 100 USD Fixed 4.500 105.38 107.38 2.96 BBB+ /Baa2 /-

Reliance Holding USU75888AC81 14-Feb-22 1500 250/1 100 USD Fixed 5.400 108.25 110.25 3.62 BBB+ /Baa2 /-

Reliance Industries Ltd USY72596BU56 28-Jan-25 1000 250/1 100 USD Fixed 4.125 99.25 100.75 4.03 BBB+ /Baa2 /-

Reliance Holding USU75888AB09 19-Oct-40 500 250/1 100 USD Fixed 6.250 113.75 115.75 5.13 BBB+ /Baa2 /-

Rural Electrification XS0579361428 25-Jan-16 500 100/1 100 USD Fixed 4.250 100.00 101.50 1.04 - /Baa3 /BBB-

Sabic Capital I Bv XS0554434240 02-Nov-15 1000 200/1 100 USD Fixed 3.000 99.50 101.00 -1.17 A+ /A1 /A+

Sabic Capital II Bv XS0971431613 03-Oct-18 1000 200/1 100 USD Fixed 2.625 100.63 102.13 1.93 A+ /A1 /A+

Sabic Capital I Bv XS0995811741 20-Nov-20 750 100/1 100 EUR Fixed 2.750 106.50 108.00 1.18 A+ /A1 /A+

Samarco Mineracao Sa USP84050AC02 26-Sep-24 500 200/1 100 USD Fixed 5.375 93.75 95.25 6.06 BBB- /- /BBB

Sasol Financing Int US803865AA25 14-Nov-22 1000 200/1 100 USD Fixed 4.500 100.25 101.75 4.22 BBB /Baa1 /-

Saudi Electricity Co (S) XS0764883806 03-Apr-17 500 200/1 100 USD Fixed 2.665 101.75 102.75 0.99 AA- /A1 /AA-



Saudi Elec Global Sukuk (S) XS1054250235 08-Apr-24 1500 200/1 100 USD Fixed 4.000 104.88 105.88 3.22 AA- /A1 /AA-


Saudi Elec Global Sukuk (S) XS1054250318 08-Apr-44 1000 200/1 100 USD Fixed 5.500 105.63 106.63 5.06 AA- /A1 /AA-

Schahin Ii Finan Co Spv USG785ARAA65 25-Sep-22 652 200/10 100 USD Fixed 5.875 33.00 39.00 24.04 CC /Ca /CC

Shanghai Elc Grp Glb Inv XS1092649620 14-Aug-19 500 200/1 100 USD Fixed 3.000 99.38 101.38 2.64 A /A2 /A

Srilankan Airlines Ltd XS1080090126 27-Jun-19 175 200/1 100 USD Fixed 5.300 94.25 99.25 5.52 B+ /- /-

Syndicate Bank/London XS1073127901 04-Dec-19 400 200/1 100 USD Fixed 3.875 101.25 103.25 3.07 BBB- /Baa3 /-

TAQA XS0272948554 27-Oct-16 1000 100/1 100 USD Fixed 5.875 104.75 106.25 0.74 A- /A3 /-

TAQA XS0717839525 13-Mar-17 750 200/1 100 USD Fixed 4.125 102.88 104.38 1.35 A- /A3 /-


TAQA XS0863523972 12-Jan-18 750 200/1 100 USD Fixed 2.500 100.00 101.50 1.87 A- /A3 /-

TAQA XS0380056183 01-Aug-18 500 100/1 100 USD Fixed 7.250 113.88 115.38 1.93 A- /A3 /-

TAQA XS0452300402 16-Sep-19 500 100/1 100 USD Fixed 6.250 114.25 115.75 2.22 A- /A3 /-


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

TAQA XS0717839871 13-Dec-21 750 200/1 100 USD Fixed 5.875 115.00 116.50 3.00 A- /A3 /-

TAQA XS0863524277 12-Jan-23 1250 200/1 100 USD Fixed 3.625 99.63 101.13 3.45 A- /A3 /-

TAQA XS1017435352 06-May-24 750 200/1 100 USD Fixed 3.875 99.75 101.25 3.71 A- /A3 /-


Tata Motors Ltd XS1121907676 30-Apr-20 500 200/1 100 USD Fixed 4.625 100.75 102.75 3.98 BB /Ba2 /-

Tata Steel XS1092182606 31-Jan-20 500 200/1 100 USD Fixed 4.850 99.63 101.13 4.57 BB /- /BB+

Tata Steel XS1090889947 31-Jul-24 1000 200/1 100 USD Fixed 5.950 97.75 99.25 6.06 BB /- /BB+

Topaz Marine Sa USL90608AA56 01-Nov-18 350 200/1 100 USD Fixed 8.625 97.13 100.13 8.57 B- /B3 /-

Transnet Soc Ltd XS0590902325 10-Feb-16 750 200/1 100 USD Fixed 4.500 100.63 102.13 0.33 BBB- /Baa2 /-

Transnet Soc Ltd XS0809571739 26-Jul-22 1000 200/1 100 USD Fixed 4.000 95.13 96.63 4.57 BBB- /Baa2 /BBB

Tullow Oil Plc USG91235AA22 01-Nov-20 650 200/1 100 USD Fixed 6.000 80.00 82.00 10.56 B+ /B3 /-

Transocean Inc US893830AK59 15-Apr-18 246 1/1 100 USD Fixed 7.375 97.25 99.25 7.68 BB+ /Ba1 /BBB-

Tullow Oil Plc USG91235AB05 15-Apr-22 650 200/1 100 USD Fixed 6.250 78.88 80.88 10.27 B+ /B3 /-

Tupras-Turkiye Petrol Ra XS0849020556 02-May-18 700 200/1 100 USD Fixed 4.125 100.25 101.75 3.45 - /Ba1 /BBB-

Vale Overseas Limited US91911TAM53 11-Jan-22 2250 2/1 100 USD Fixed 4.375 95.50 97.00 4.92 BBB /Baa2 /BBB+

Vedanta Resources Plc USG9328DAF71 07-Jun-16 750 200/1 100 USD Fixed 6.750 99.25 101.25 5.19 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAH38 31-Jan-19 1200 200/1 100 USD Fixed 6.000 90.00 92.00 8.70 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAG54 07-Jun-21 900 200/1 100 USD Fixed 8.250 92.00 94.00 9.61 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAJ93 31-May-23 500 200/1 100 USD Fixed 7.125 86.00 88.00 9.32 BB- /Ba3 /WD

Videocon Industries Ltd (C) XS0566786546 16-Dec-15 194 100/100 100 USD Fixed 6.750 81.13 86.13 51.86 Not Rated

Waha Aerospace XS0528721623 28-Jul-20 750 100/1 100 USD Fixed 3.925 104.00 105.50 2.74 AA /Aa2 /AA

Yancoal Intl Res Dev USY97279AA45 16-May-17 450 200/1 100 USD Fixed 4.461 97.63 100.13 4.38 BB /Ba2 /BB-

Yancoal Intl Res Dev USY97279AB28 16-May-22 550 200/1 100 USD Fixed 5.730 88.00 90.50 7.54 BB /Ba2 /BB-

Yingde Gases Invstmt Ltd USG9844KAA72 22-Apr-18 425 200/1 100 USD Fixed 8.125 91.13 95.13 10.22 BB- /B1 /BB

Yingde Gases Invstmt Ltd USG9844KAB55 28-Feb-20 250 200/1 100 USD Fixed 7.250 84.13 89.13 10.29 BB- /B1 /BB

Zoomlion Hk Spv Co Ltd USY9896RAB79 20-Dec-22 600 200/1 100 USD Fixed 6.125 85.00 87.00 8.54 B+ /- /BB-

Arcelik As XS0910932788 03-Apr-23 500 200/1 100 USD Fixed 5.000 93.75 95.75 5.69 BB+ /- /BB+

Arcelik As XS1109959467 16-Sep-21 350 100/1 100 EUR Fixed 3.875 98.63 100.63 3.76 BB+ /- /BB+

Car Inc XS1163232900 04-Feb-20 500 200/1 100 USD Fixed 6.125 100.13 102.13 5.58 BB+ /Ba1 /BB+

Cosco Finance 2011 XS0858461758 03-Dec-22 1000 200/1 100 USD Fixed 4.000 99.50 100.50 3.92 - /A1 /-

Golden Eagle Retail Group USG3958RAB53 21-May-23 400 200/1 100 USD Fixed 4.625 82.88 84.88 7.19 BB /Baa3 /BB+

Hikma Pharmaceuticals Pl XS1213834978 10-Apr-20 500 200/1 100 USD Fixed 4.250 99.13 101.13 3.98 BB+ /Ba1 /-

Miscellaneous


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abn Amro Bank Nv XS0619547838 27-Apr-22 595 200/1 100 USD Fixed 6.250 111.63 113.63 3.92 BBB- /Baa3 /A-

Abn Amro Bank Nv XS0827817650 13-Sep-22 1500 200/1 100 USD Variable 6.250 105.88 107.88 2.38 BBB- /NR /A-

Bank Of Scotland Plc XS0066120915 15-May-21 500 10/10 100 GBP Fixed 9.375 128.50 129.50 3.62 BBB /Baa2 /A-

Barclays XS0322792010 Perpetual 117 100/1 100 USD Variable 7.434 107.88 110.38 2.85 BB /Ba1 /BBB-

Barclays XS0397801357 Perpetual 3000 50/1 100 GBP Variable 14.000 130.00 133.00 4.48 BB /Ba1 /BBB-

Barclays Bank Plc US06740L8C27 21-Nov-22 3000 200/1 100 USD Fixed 7.625 114.63 116.63 4.88 BB+ /NR /BBB-

Barclays Bank Plc US06739FHK03 10-Apr-23 1000 200/1 100 USD Variable 7.750 108.50 110.50 3.59 BB+ /NR /BBB-

Citigroup Inc XS0180008905 18-Nov-15 250 1/1 100 GBP Fixed 5.500 99.50 101.50 0.22 A- /Baa1 /A

Commerzbank Ag XS0101360161 30-Aug-19 150 10/10 100 GBP Fixed 6.625 109.13 111.13 3.63 BB+ /Ba2 /BBB-

Commerzbank Ag DE000CB83CF0 16-Mar-21 1250 100/100 100 EUR Fixed 7.750 121.75 123.75 3.07 BB+ /Ba2 /BBB-

Credit Agricole FR0010533554 Perpetual 500 2/2 100 USD Fixed 7.375 101.50 103.50 -9.35 BB+ /Ba2 /BBB-

Credit Agricole Sa USF22797RT78 Perpetual 1750 200/1 100 USD Variable 7.875 104.00 105.50 7.01 BB /NR /BB+

Credit Europe Bank NV XS0878492791 24-Jan-23 400 200/1 100 USD Variable 8.000 99.38 102.38 6.93 - /B2 /B+

Deutsche Bank Ag US251525AP63 01-Apr-25 1500 200/1 100 USD Fixed 4.500 94.63 97.63 4.81 BBB- /Ba1 /A-

Goldman Sachs Group Inc XS0212249014 15-Dec-15 600 1/1 100 GBP Fixed 5.250 100.75 101.75 0.36 A- /A3 /A

Jaguar Land Rover Automo USG5002FAE63 15-Mar-20 500 200/1 100 USD Fixed 3.500 97.25 98.75 3.80 BB /Ba2 /-

Jaguar Land Rover Automo USG50027AB03 15-May-21 84 150/1 100 USD Fixed 8.125 109.25 110.75 -0.49 BB /Ba2 /BB-

KBC Bank NV BE6248510610 25-Jan-23 1000 200/200 100 USD Variable 8.000 109.38 110.88 3.37 BBB- /NR /-

Lloyds Bank Plc XS0517466198 07-Sep-15 75 1/0.1 100 GBP Fixed 5.375 98.63 100.63 -1.82 A /A1 /A+

Lloyds Bank Plc US53947QAA58 14-Sep-20 2000 100/1 100 USD Fixed 6.500 114.75 116.75 2.94 BBB /Baa2 /A-

Lloyds Bank Plc XS0717735582 16-Dec-21 466 1/1 100 GBP Variable 10.750 111.75 112.75 1.24 BBB /Baa2 /A-

Macquarie Bank Ltd US55608YAA38 07-Apr-21 1000 2/1 100 USD Fixed 6.625 112.00 115.00 3.67 BBB /Baa2 /A-

Macquarie Bank Ltd XS0543111768 21-Sep-20 600 50/50 100 EUR Fixed 6.000 117.63 120.63 1.76 BBB /Baa2 /A-

Mizuho Group XS0803109270 18-Jul-22 1500 200/1 100 USD Fixed 4.200 101.88 104.88 3.41 A /A2 /-

Morgan Stanley XS0236338504 30-Nov-15 325 50/1 100 GBP Fixed 5.125 99.50 101.50 0.39 A- /A3 /A

Morgan Stanley XS0531922465 10-Aug-20 1500 50/50 100 EUR Fixed 5.375 120.38 121.38 0.98 A- /A3 /A

Morgan Stanley US61747WAF68 25-Jan-21 2592 100/1 100 USD Fixed 5.750 112.63 114.63 2.84 A- /A3 /A

Natixis USF6483LHM57 Perpetual 186 100/1 100 USD Variable 10.000 115.25 118.25 2.99 BB+ /Ba2 /BBB-

Natl Westminster Bank XS0090254722 07-Sep-21 300 10/10 100 GBP Fixed 6.500 112.13 114.13 3.85 BB+ /Ba2 /BBB

Prudential Plc XS0873630742 Perpetual 700 200/1 100 USD Fixed 5.250 99.25 101.25 4.74 A- /Baa1 /BBB+

Rabobank Nederland XS0826634874 14-Sep-22 1000 100/1 100 EUR Fixed 4.125 112.00 114.00 1.99 BBB+ /A3 /A

Rabobank Nederland XS0583302996 Perpetual 2000 100/1 100 USD Variable 8.375 104.13 106.13 1.98 - /- /BBB-

Various Developed Market Issues


August 4, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Rabobank Nederland XS0703303262 Perpetual 2000 100/1 100 USD Variable 8.400 107.75 109.75 3.07 - /- /BBB-

Royal Bk Of Scotland Plc XS0356705219 09-Apr-18 2000 50/1 100 EUR Fixed 6.934 111.50 113.50 1.72 BB+ /Ba2 /BBB

Royal Bk Of Scotland Plc XS0753308559 16-Mar-22 2132 1/1 100 USD Variable 9.500 109.13 111.13 2.41 BB+ /NR /BBB

Royal Bk Scotlnd Grp Plc US780099CE50 15-Dec-22 2250 2/1 100 USD Fixed 6.125 106.88 108.88 4.68 BB /Ba2 /BBB

Societe Generale XS0503530874 17-Dec-15 350 50/50 100 GBP Fixed 3.875 99.25 101.25 0.43 A /A2 /A

Societe Generale USF8586CH211 14-Apr-25 1500 200/1 100 USD Fixed 4.250 94.50 96.50 4.70 BBB /Baa3 /A-

Standard Chartered Plc XS0874014722 11-Jan-23 2000 200/1 100 USD Fixed 3.950 97.50 99.50 4.03 BBB /A2 /A+

UBS AG CH0214139930 22-May-23 1500 200/1 100 USD Variable 4.750 101.25 103.25 3.50 BBB /NR /BBB+

Unicredit Spa XS0849517650 31-Oct-22 1500 100/1 100 EUR Fixed 6.950 118.38 120.38 3.69 BB /Ba1 /BBB

Unicredit Spa XS0925177130 02-May-23 750 200/1 100 USD Variable 6.375 104.13 106.13 3.99 BB /Ba1 /BBB

Egypt 3M T Bills N/A 20-Oct-15 2500 500/25 100 EGP Zero Cpn N/A 96.98 97.45 8.39 B/B2/B+

Egypt 6M T Bills N/A 19-Jan-16 3500 500/25 100 EGP Zero Cpn N/A 94.03 94.92 8.59 B/B2/B+

Egypt 9M T Bills N/A 12-Apr-16 3500 500/25 100 EGP Zero Cpn N/A 91.45 92.68 8.67 B/B2/B+

Egypt 1Y T Bills N/A 12-Jul-16 4000 500/25 100 EGP Zero Cpn N/A 88.80 90.37 8.71 B/B2/B+

French Discount T-Bill FR0121811709 11-Dec-14 0 100/1 100 EUR Zero Cpn N/A 99.50 100.00 0 - /- /NR

French Discount T-Bill FR0122005723 02-Apr-15 0 100/1 100 EUR Zero Cpn N/A 99.50 100.00 -- - /- /NR

German Treasury Bill DE0001119261 10-Dec-14 0 100/1 100 EUR Zero Cpn N/A 99.50 100.00 0 - /- /NR

German Treasury Bill DE0001119212 25-Mar-15 0 100/1 100 EUR Zero Cpn N/A 99.51 100.01 -- - /- /NR

Australia T-Bill AU2CLT051245 05-Dec-14 0 100/5 100 AUD Zero Cpn N/A 99.13 99.63 -- - /- /NR

(C) Denotes a Convertible bond

(S) Denotes a Sukuk

* Offer Yield adjusted for tax

Egypt T Bills


August 4, 2015

Contact:

Mashreq Fixed Income Trading

Mohammad Ahsan / Khizer Usmani / Zeeshan Ali / Khurram Hussain / Yasmeen Rabbani / Shakoor Ahmed / Jean-Francois Bargiarelli

Sali Al Khatib

Telephone: +9714-2128822

For live prices, please visit our Bloomberg page MASH <GO>

General Disclaimer:

This note has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq Bank or its affiliates to

buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation would

be illegal. Certain assumptions may have been made in the analysis that resulted in any information and results/returns detailed therein. No representation is made that any returns/results

indicated would be achieved or that all assumptions in achieving these returns/results have been considered. Past performance is not necessarily indicative of future results. Mashreq Bank

does not warrant accuracy of the information provided herein and views expressed in this research reflect personal views of the analyst(s) which does not take account of individual clients’

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