q3 2015 league tables analysis - ijglobal league tables 2015.pdf · oil & gas cidade de...

Q3 2015 League Tables Analysis

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US$m Count

Value (US$m) Count Source: IJGlobal

0

50

100

150

200

250

-

20,000

40,000

60,000

80,000

100,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

GLOBAL PROJECT FINANCE TRANSACTION VOLUME 2010 – Q3 2015

GLOBAL TOP TRANSACTIONS Q3 2015

Sector Transaction Value (US$m) Location Financial Close

Transport Gebze-Izmir Toll Road Phase III PPP 6,356 Turkey Friday, 10 July 2015

Water Thames Tideway Tunnel 3,567 United Kingdom Monday, 24 August 2015

Transport Intercity Express Programme Phase 1 PPP Refinancing 3,384 United Kingdom Tuesday, 7 July 2015

Oil & Gas Jazan Air Separation Complex 2,120 Saudi Arabia Wednesday, 1 July 2015

Oil & Gas Cidade de Saquarema FPSO 1,940 Brazil Monday, 27 July 2015

Transport Regina Bypass PPP 1,514 Canada Tuesday, 4 August 2015

Oil & Gas Tartaruga FPSO 1,263 Brazil Thursday, 10 September 2015

Transport Toowoomba Second Range Crossing (TSRC) PPP 1,169 Australia Friday, 21 August 2015

Renewables Negev Solar Thermal Plant (121MW) 1,070 Israel Thursday, 16 July 2015

Transport ITR Concession Company Acquisition Refinancing 1,050 United States Thursday, 23 July 2015

There were eight MENA deals in Q3, totalling $5.6 billion. For the first time in at least five years, total investment into the region exceeded $5 billion for each of the first three quarters of the year. As many as 18 deals closed in the region in Q2, although this level of activity is unusual. The Q2 deal count was the highest seen since 2010, and only one other quarter since has seen more than nine transactions completed.

Asia Pacific, in contrast, is going through a period of depressed activity. Total investment volume was a mere $11.1 billion, barely recovering from a five-year low of $9.8 billion seen in Q2 and only a quarter of the $41.7 billion achieved in Q3 2010. There were only 28 deals completed in Q3 2015, not much better than the recent low of 26 in Q4 2014.

Global deal count rose nearly 5% from Q3 2014

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$63.3 billion:project-finance deal volume closed in Q3

Global project-finance volume rose nearly 6% in the third quarter from the same period last year, boosted by trends in the Americas, Europe and MENA but held back by weakness in Asia Pacific.

Global transaction volume totalled $63.3 billion between July and September, compared to $59.8 billion in last year’s Q3 period. Deal count rose nearly 5% above its Q3 2014 level to 169.

The wider trend was reflected in Europe, where third-quarter transaction value rose nearly 40% to $20.3 billion across 52 deals - compared to 56 last year.

North America saw 56 transactions in Q3, worth a combined $17.1 billion. This was above the 45 deal count from Q3 2014 and 75% above Q3 2013. Though transaction volumes have lurched from quarter to quarter, when smoothed out the trend line appears positive. In Latin America, deal count rose 16% to 22, but investment volume fell.

Global Q3 project finance volume rises 6%, with stronger performance in most markets.Asia Pacific proves the exception, with lower volume and deal count

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GLOBAL VOLUME BY SOURCE OF FUNDING 2010 – Q3 2015

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IJGlobal’s League Tables Analysis Q3 2015

At $6.4 billion, the No1 Q3 transaction was about half H1’s largest

In terms of total investment size, individual transactions were also anaemic worldwide. The largest, Turkey’s Gebze-Izmir Toll Road Phase III, was $6.4 billion. This is roughly half the size of the largest deal in the first half, the $12.4 billion Corpus Christi LNG oil and gas deal in the US.

Transport projects represented more than half of total value across the top 10 transactions globally.

Each of the last three quarters has seen more than $19 billion invested in transport worldwide.

The Q1-Q3 2015 breakdown of volume by source of funding closely resembles the same period last year.

Primary Financing Refinancing Acquisition Source: IJGlobal

US$m

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

Q1 2010

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

GLOBAL VOLUME BY FINANCING PURPOSE 2010 – Q3 2015

In Q2 bonds and lending by international financial institutions decreased year-on-year as a portion of overall financing volume, while commercial debt and equity rose. Debt was at its lowest quarterly proportion against equity, at 80% of total investment, since the 77:23 debt-to-equity split seen in Q2 2013.

Primary financing and refinancing both grew year-on-year in Q3 to $41.7 billion and $18.6 billion, respectively, while asset acquisition plunged from $4.0 billion in Q3 2014 to only $871 million in the most recent quarter – its lowest level since 2010.

$11.1 billion:Asia Pacific volume, near recent low

Bank loans DFI loans Bonds Equity Transaction count Source: IJGlobal

US$m

0

50

100

150

200

250

300

-

20,000

40,000

60,000

80,000

100,000

120,000

Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015

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EquityDebtSource: IJGlobal

82%

18%

Q3 2014

86%

14%

Q1 2015

81%

19%

Q2 2015 Q3 2015

81%

19%

Q4 2014

80%

20%

DEBT-EQUITY RATIOS

Source: IJGlobal

0.0

2.0

4.0

6.0

8.0

10.0

12.0

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015

YearsSENIOR LOAN TENOR

Download the data behind the deals at IJGlobal

MOST LEVERAGED PRIMARY FINANCINGS

Sector Deal Name Location Debt Equity Debt-Equity Ratio

Renewables Frodsham Wind Farm (50MW) United Kingdom 97 5 95:5

Telecoms Kentucky Broadband Network PPP United States 320 20 94:6

Transport Eglinton Crosstown LRT PPP Canada 953 73 93:7

Social & Defence Anderson High School PPP United Kingdom 80 7 92:8

Social & Defence Human and Social Sciences (SHS) Department Grenoble

University PPP

France 67 6 92:8

Power Valle de Mexico II CCGT Power Plant (615MW) Mexico 388 38 91:9

Social & Defence Midlands Schools (PSBP) Batch 5 PPP United Kingdom 214 21 91:9

Renewables Ichigo Showamura Ogose ECO Power Plant Japan 103 11 90:10

Social & Defence De Knoopkazerne Utrecht Government Building PPP Netherlands 100 11 90:10

Power Alon Tavor and Ramat Gabriel Cogeneration Power Plants Israel 269 36 88:12

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SPONSORS


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BOND ARRANGERS

Global league tables Q1- Q3 2015

Rank Company Total US$ m Transactions

1 Cheniere Energy 21,704 4

2 IFM Investors 7,840 6

3 Freeport LNG Development 4,617 1

4 SunEdison 3,312 10

5 Macquarie 3,303 10

6 Saudi Aramco 3,247 2

7 Vale SA 3,120 1

8 Sumitomo Corp 3,047 1

9 Astaldi 2,623 3

10 Adani Group 2,592 5


1 EIG Global Energy Partners 1,500 1

2 Royal Bank of Canada 1,302 8

3 Allianz 1,255 2

4 Scotiabank 1,136 8

5 HSBC 1,123 8

6 National Bank of Canada 1,122 8

7 JPMorgan 881 7

8 Mitsubishi UFJ Financial Group 866 6

9 Goldman Sachs 694 3

10 Bank of America 625 6


1 Mitsubishi UFJ Financial Group 8,740 76

2 Sumitomo Mitsui Financial Group 6,529 67

3 Santander 4,659 52

4 Credit Agricole Group 4,645 57

5 BNP Paribas 4,585 29

6 Mizuho Financial Group 4,523 46

7 ING Group 4,375 42

8 Societe Generale 3,419 38

9 HSBC 3,409 23

10 Deutsche Bank 2,634 21


1 Japan Bank for International Cooperation 4,860 9

2 KfW 3,939 37

3 European Investment Bank 2,527 18

4 Export-Import Bank of Korea 999 2

5 China Development Bank 825 1

6 Export Development Canada 794 5

7 International Finance Corporation 594 15

8 European Bank for Reconstruction and

Development

445 7

9 World Bank 400 2

10 African Development Bank 371 5

MLAs DFIs


1 Marsh Insurance 14,057 15

2 INTECH Risk Management 7,258 9

3 Benatar & Co 1,909 2

4 Jardine Lloyd Thompson 1,653 3

5 Cook Advisory Services 1,026 1

6 Ames & Gough 632 1

7 Willis 611 9

8 Aon 497 6

9 Moore McNeil 380 2

10 Crotty Group 224 2

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LEGAL ADVISERS

FINANCIAL ADVISERS

Global league tables Q1-Q3 2015


1 Chadbourne & Parke 41,011 37

2 Milbank, Tweed, Hadley & McCloy 31,674 32

3 Clifford Chance 31,120 48

4 White & Case 27,184 23

5 Norton Rose Fulbright 25,839 45

6 Allen & Overy 20,343 44

7 Ashurst 18,014 29

8 DLA Piper 17,511 22

9 Linklaters 17,074 27

10 Sullivan & Cromwell 14,145 3


1 HSBC 24,510 12


3 PwC 19,073 17

4 Ernst & Young 16,422 30



7 UBS 10,988 3

8 Evercore Partners 9,216 2


10 Greengate 8,125 1


1 Mott MacDonald 16,796 38

2 Lummus Consultants International 14,621 3

3 Arup 13,627 9

4 CH2M Hill 9,518 3

5 Nexant 8,125 1

6 Poten & Partners 5,077 2

7 SgurrEnergy 4,678 7

8 Infrata 3,239 4

9 Parsons Corporation 2,729 3

10 K2 Management 2,340 1

TECHNICAL ADVISERS INSURANCE ADVISERS

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REGIONALLEAGUETABLES

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EUROPE LEGAL ADVISERS EUROPE FINANCIAL ADVISERS

EUROPE PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

EUROPE TECHNICAL ADVISERS

US$m Count

Period


0

20

40

60

80

100

120

140

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Europe league tablesQ1-Q3 2015

Rank Company Total US$ m

Tran.



3 DLA Piper 11,840 17

4 Hogan Lovells 10,673 7

5 Freshfields Bruckhaus

Deringer

10,041 8

6 Ashurst 9,840 19

7 Hergüner Bilgen Özeke 9,102 4


9 Verdi 6,356 1

10 Gide Loyrette Nouel 6,263 4


Tran.

1 PwC 12,751 11

2 HSBC 7,402 8


4 Rothschild 5,795 4

5 KPMG 5,561 10


7 Green Giraffe 3,749 2


= UBS 3,567 1



Tran.


2 SgurrEnergy 4,548 6

3 CH2M Hill 3,384 1

4 K2 Management 2,340 1

5 Fichtner 789 4

6 Lummus Consultants

International

696 1

7 DNV GL 651 7

8 Mill Group 370 1

9 Turner & Townsend 352 2

10 WSP Group 311 2

EUROPE SPONSORS EUROPE MLAs EUROPE BOND ARRANGERS


Tran.


2 Mitsubishi UFJ Financial

Group

1,621 7


4 Sumitomo Mitsui

Financial Group

1,506 10



7 UniCredit 1,226 16


9 Isbank 1,041 4

10 Natixis 1,001 8


Tran.

1 Allianz 555 1

2 Aviva 484 5

3 HSBC 303 3

4 Royal Bank of Scotland 225 3

5 Santander 200 2


Group

173 1

= Sumitomo Mitsui

Financial Group

173 1

8 Lloyds Banking Group 162 2

9 Deutsche Bank 144 1

10 Credit Suisse 144 1


Tran.

1 Astaldi 2,623 3

2 Macquarie 2,375 6

3 Hitachi Ltd 2,369 1

4 Siemens 1,996 3

5 Eiffage 1,912 2


7 Laidlaw Capital Group 1,334 1

8 Gocay 1,271 1

= Makyol 1,271 1

= Nurol 1,271 1

= Ozaltin 1,271 1

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NORTH AMERICA LEGAL ADVISERS

NORTH AMERICA FINANCIAL ADVISERS

NORTH AMERICA PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

NORTH AMERICA TECHNICAL ADVISERS


US$m Count

0

10

20

30

40

50

60

70

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

North America league tablesQ1-Q3 2015


Tran.


2 Milbank, Tweed, Hadley

& McCloy

14,085 20


4 Latham & Watkins 11,622 24

5 Shearman & Sterling 10,419 13

6 Orrick, Herrington &

Sutcliffe

7,520 6

7 White & Case 7,186 9

8 Kirkland & Ellis 6,094 3


10 Andrews Kurth 5,842 2


Tran.



3 Moelis & Company 5,649 1

= Santander 5,649 1

= BBVA 5,649 1

= Evercore Partners 5,649 1

= Houlihan Lokey 5,649 1

= UBS 5,649 1

9 National Bank of

Canada

5,476 3



Tran.

1 Arup 9,217 3

2 CH2M Hill 6,134 2

3 Lummus Consultants

International

5,800 1

4 Poten & Partners 5,077 2

5 Infrata 2,990 2

6 Altus Group 1,732 2


8 Hatch Mott MacDonald 1,520 2

9 BTY Group 1,477 3

10 Atkins 1,026 1

NORTH AMERICA SPONSORS NORTH AMERICA BOND ARRANGERS

NORTH AMERICA MLAs


Tran.



3 Freeport LNG

Development

4,617 1

4 SunEdison 2,459 6

5 Nextera Energy 1,925 4

6 First Reserve 1,556 5

7 Pattern Energy 1,189 4

8 Plenary Group 1,182 3

9 Mitsubishi Corp 1,143 2

10 LS Power 1,140 4


Tran.

1 EIG Global Energy

Partners

1,500 1


3 National Bank of

Canada

1,122 8

4 Scotiabank 897 5

5 Allianz 700 1

6 Goldman Sachs 694 3

7 JPMorgan 614 4

8 Toronto-Dominion Bank 598 5

9 HSBC 514 2


Group

489 4


Tran.


Group

3,690 43

2 Sumitomo Mitsui

Financial Group

2,645 33

3 ING Group 2,050 20





8 Scotiabank 1,420 11


10 Bank of America 1,247 7

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ASIA PACIFIC PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015


US$m Count

0

10

20

30

40

50

60

70

80

90

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Asia Pacific league tablesQ1-Q3 2015

ASIA PACIFIC LEGAL ADVISERS

ASIA PACIFIC FINANCIAL ADVISERS

ASIA PACIFIC DFIs


Tran.

1 King & Wood Mallesons 7,427 14


3 Herbert Smith Freehills 6,223 14

4 Allens 5,136 14

5 Ashurst 4,481 4

6 Clayton Utz 3,925 4

7 Gilbert & Tobin 2,542 7

8 Cyril Amarchand

Mangaldas

2,443 8

9 Minter Ellison 1,923 6

10 Skadden, Arps, Slate,

Meagher & Flom

1,772 1


Tran.

1 State Bank of India 5,359 16

2 Capella Capital 2,954 3

3 PwC 1,813 2

4 UBS 1,772 1



7 Bajaj Group 1,357 2

8 Korea Development Bank 1,131 3


Group

1,131 2

10 FMO 940 1


Tran.

1 China Development Bank 825 1

2 Korea Development Bank 368 3

3 Export-Import Bank of

India

242 2

4 Asian Development Bank 195 3

5 Export Development

Canada

144 1

6 DBS Bank 95 1


Korea

89 1

8 Japan Bank for

International Cooperation

87 1

9 European Bank for

Reconstruction and

Development

87 1

10 KfW 79 2

ASIA PACIFIC SPONSORS ASIA PACIFIC MLAs ASIA PACIFIC BOND ARRANGERS


Tran.


Group

1,864 17

2 Westpac 1,756 16


4 Commonwealth Bank

of Australia

1,305 12

5 Axis Bank 1,284 7

6 ING Group 1,096 7

7 National Australia Bank 1,019 13

8 Australia and New

Zealand Banking Group

935 10

9 Canadian Imperial

Bank of Commerce

638 5

10 Sumitomo Mitsui

Financial Group

592 9


Tran.

1 Westpac 322 2

2 HSBC 262 2

3 Kotak Mahindra Bank 205 1

4 Canadian Imperial Bank

of Commerce

204 1

= Mitsubishi UFJ Financial

Group

204 1

6 National Australia Bank 197 2

7 JPMorgan 183 2

8 Australia and New

Zealand Banking Group

125 1

= Bank of America 125 1

= Scotiabank 125 1


Tran.


2 GMR Group 1,478 5

3 IRB Infrastructure

Developers

1,357 2


5 ConnectEast 1,052 1

6 AMP Limited 1,033 2

7 First State Super 1,026 1

8 Ansteel 773 1

9 Hastings Fund

Management

765 3

10 Dorian LPG 758 1

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3 ACWA Power 2,010 6

4 ACWA Holding 1,617 2

5 Mubadala Development Company 834 1

6 Abengoa 535 1

= Shikun & Binui 535 1

8 Air Products and Chemicals 530 1

9 Moroccan Agency for Solar Energy 500 2

10 Sahara Petrochemical 467 1

MENA SPONSORS

MENA PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

MENA MLAs


US$m Count

0

2

4

6

8

10

12

14

16

18

20

-

5,000

10,000

15,000

20,000

25,000

30,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

MENA league tablesQ1-Q3 2015





4 HSBC 937 4

5 Banque Saudi Fransi 584 4

6 National Bank of Abu Dhabi 402 3

7 Samba Financial 370 4

8 First Gulf Bank 369 3

9 Bank Muscat 366 3

10 Alinma Bank 264 2

MENA TOP LEGAL ADVISERS MENA TOP FINANCIAL ADVISERS

MENA TOP DFIs


Tran.

1 White & Case 12,179 5


3 Dentons 8,292 2

4 Milbank, Tweed, Hadley &

McCloy

8,125 1



7 Ashurst 2,427 4

8 King & Spalding 2,120 1

9 Hajji & Associes 2,000 2

10 Herzog Fox & Neeman 1,376 2


Tran.

1 HSBC 10,868 3

2 Greengate 8,125 1

= Sumitomo Mitsui Financial

Group

8,125 1

4 Synergy Consulting 2,150 2


= Alderbrook 2,000 2


= Goren Capital 1,070 1

= TASC 1,070 1

10 PwC 640 1


Tran.

1 Japan Bank for

International Cooperation

2,767 3

2 World Bank 400 2

3 European Investment Bank 371 3

4 KfW 320 4

5 National Commercial Bank 304 2

6 Overseas Private

Investment Corporation

250 1

7 European Union 216 2

= African Development Bank 216 2

= Agence Francaise de

Development

216 2

10 Clean Technology Fund 119 2

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LATIN AMERICA PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015


US$m Count

0

5

10

15

20

25

30

35

-

2,000

4,000

6,000

8,000

10,000

12,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Latin America league tablesQ1-Q3 2015

LATIN AMERICA LEGAL ADVISERS

LATIN AMERICA FINANCIAL ADVISERS

LATIN AMERICA DFIs


Tran.


McCloy

8,050 6

2 White & Case 7,274 4

3 Baker & McKenzie 6,574 2

4 Mattos Filho 6,423 2


= Emmet Marvin & Martin 6,240 1


8 Ritch Muller 2,734 3


10 Gonzalez Calvillo 1,654 1


Tran.

1 HSBC 6,240 1



Group

1,940 1

4 Sumitomo Mitsui Financial

Group

1,763 2

5 Structure Banca de

Inversion

1,655 3

= Goldman Sachs 1,655 3


8 Citigroup 820 1

9 Corporacion Andina de

Fomento (CAF)

452 3

10 Itausa Investimentos Itau 429 6


Tran.

1 Export-Import Bank of Korea 910 1

2 KfW 595 10

3 International Finance

Corporation

306 3

4 Banobras 277 1

5 Japan Bank for International

Cooperation

252 1

6 Nacional Financiera -

Nafinsa

240 1

7 Inter-American Development

Bank

206 3

8 North American

Development Bank

151 3

9 Banco Nacional de Comercio

Exterior - Bancomext

146 2

10 Export Import Bank of the

United States

129 3

LATIN AMERICA SPONSORS LATIN AMERICA MLAs LATIN AMERICA BOND ARRANGERS


Tran.


2 Goldman Sachs 1,285 5

3 HSBC 807 6

4 BNP Paribas 716 4

5 Sumitomo Mitsui

Financial Group

684 9

6 Itausa Investimentos

Itau

661 14

7 Credit Agricole Group 554 9

8 Mizuho Financial Group 453 3


Group

452 4

10 ING Group 386 3


Tran.

1 Itausa Investimentos Itau 249 1

2 Santander 189 5

3 Novo Banco 137 1

= Credit Suisse 137 1

5 BNP Paribas 102 1

= Corporacion Andina de

Fomento (CAF)

102 1


= JPMorgan 85 1

= Mizuho Financial Group 85 1

= Scotiabank 85 1

= Sumitomo Mitsui

Financial Group

85 1


Tran.

1 Vale SA 3,120 1

2 Dongkuk S&C 1,872 1

3 POSCO Engineering &

Construction

1,248 1

4 Pemex 1,195 1

5 SBM Offshore NV 1,086 1

6 Mario Huertas Cotes 955 3

7 Partners Group 820 1

8 Mitsui & Co 781 1

9 SunEdison 660 2

10 Meco Constructors 610 3

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SUB-SAHARAN SPONSORS

SUB-SAHARAN PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

SUB-SAHARAN MLAs

0

5

10

15

20

25

30

35

0

5000

10000

15000

20000

25000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015


US$m Count

Sub-Saharan Africa league tablesQ1-Q3 2015

SUB-SAHARAN LEGAL ADVISERS SUB-SAHARAN FINANCIAL ADVISERS


1 Transnet 600 1

2 Nava Bharat Ventures 540 1

3 Abengoa 342 1

4 CMC-Ravenna 337 1

5 Industrial Development Corporation of

South Africa

308 2

= Public Investment Corporation (SOC) 308 2

7 ZCCM Investments Holding 291 1

8 China Longyuan Power Group 259 2

9 Xina Community Trust 171 1

10 ACS Group 138 1


1 Bowman Gilfillan 1,718 3


3 Webber Wentzel 1,390 4

4 DLA Piper 1,069 2

5 Clifford Chance 965 2

6 Ledwaba Mazwai 958 2

7 Linklaters 854 1

= Edward Nathan Sonnenbergs 854 1

9 Allen & Overy 839 2

10 Fasken Martineau DuMoulin 760 1


1 Fieldstone 1,531 5


3 Marsh Insurance 854 1

= PwC 854 1

5 Barclays 830 1

= Cresco Project Finance 830 1

7 Bridge Capital 760 1

8 Development Bank of Southern Africa 239 1

9 Cutfield Freeman 120 1

10 Basis Points Capital 104 1


1 Nedbank Group 493 6

2 Barclays 372 3

3 Investec 209 2

4 BNP Paribas 206 2

5 Intesa San Paolo 168 1

6 Standard Bank 115 3

7 Standard Chartered Bank 91 1

= Industrial and Commercial Bank of China 91 1

= Bank of China 91 1

10 Vantage Capital 59 1

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SECTORLEAGUETABLES

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2 Freeport LNG Development 4,617 1



5 ACWA Holding 1,590 1

6 Mitsubishi Corp 1,414 3

7 Pemex 1,195 1

8 SBM Offshore NV 1,086 1

9 Partners Group 1,040 2

10 North West Upgrading 1,018 2

= Canadian Natural Resources 1,018 2





4 HSBC 1,795 8


6 ING Group 1,359 9


8 Scotiabank 965 5

9 IFM Investors 925 1


OIL & GAS SPONSORS

OIL & GAS PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

OIL & GAS MLAs

US$m Count


0

5

10

15

20

25

30

-

10,000

20,000

30,000

40,000

50,000

60,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Oil & Gas league tablesQ1-Q3 2015

OIL & GAS LEGAL ADVISERS OIL & GAS FINANCIAL ADVISERS OIL & GAS DFIs


Tran.


2 White & Case 15,484 7


4 Milbank, Tweed, Hadley

& McCloy

9,965 4

5 Dentons 8,125 1


7 Andrews Kurth 5,800 1


9 Akin Gump 4,617 1

10 Ritch Muller 2,474 2


Tran.


2 HSBC 10,868 3

3 Sumitomo Mitsui

Financial Group

10,143 3

4 Greengate 8,125 1

5 Macquarie 4,617 1

6 Synergy Consulting 2,120 1


Group

1,940 1


= Santander 1,654 1



Tran.


Cooperation

3,593 7

2 Banobras 277 1

3 KfW 260 4

4 Nacional Financiera - Nafinsa 240 1

5 Export-Import Bank of India 220 1

6 National Commercial Bank 179 1

7 Development Bank of Japan 110 1


Malaysia

108 1

9 Banco Nacional de

Comercio Exterior -

Bancomext

100 1

10 Bank Gospodarstwa

Krajowego

98 1

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RENEWABLES PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

US$m Count


0

20

40

60

80

100

120

-

5,000

10,000

15,000

20,000

25,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Renewables league tablesQ1-Q3 2015

RENEWABLES LEGAL ADVISERS

RENEWABLES FINANCIAL ADVISERS

RENEWABLES TECHNICAL ADVISERS


Tran.

1 Norton Rose Fulbright 5674 21

2 Latham & Watkins 4942 14

3 Chadbourne & Parke 4748 24


McCloy

4072 16

5 Linklaters 3951 14

6 Ashurst 3912 13

7 Clifford Chance 3345 12

8 CMS 3003 10

9 Watson Farley & Williams 2755 6

10 McCarthy Tétrault 2353 12


Tran.

1 Green Giraffe 4117 3

2 Ernst & Young 3181 6

3 Alderbrook 2000 2

4 Chatham Financial 1807 3

5 KPMG 1379 5

6 Fieldstone 1292 4


= Goren Capital 1070 1

= TASC 1070 1

10 PwC 1056 2


Tran.

1 SgurrEnergy 4678 7

2 Mott MacDonald 3327 16

3 K2 Management 2340 1

4 DNV GL 1518 12

5 Parsons Corporation 1070 1

6 Fichtner 789 4

7 Leidos 432 2

8 Lahmeyer International 405 3

9 Arup 374 2

10 Cabinet Gadvisory 215 1

RENEWABLES SPONSORS RENEWABLES MLAs RENEWABLES DFIs


Tran.

1 Santander 1967 29


Group

1568 24

3 Sumitomo Mitsui

Financial Group

1346 22


5 NordLB 943 22

6 Rabobank 846 16

7 Barclays 816 10


9 Key Bank 795 13

10 Citigroup 662 4


Tran.

1 SunEdison 3312 10

2 Nextera Energy 1925 4

3 ACWA Power 1580 3

4 Pattern Energy 1471 6

5 Laidlaw Capital Group 1334 1

6 First Reserve 1311 3

7 Northland Power 1249 2

8 Siemens 1006 1

9 Abengoa 877 2

10 Canadian Solar 779 7


Tran.

1 KfW 2412 20


3 World Bank 400 2


5 Eksport Kredit Fonden 309 2

6 Industrial Development

Corporation of South Africa

270 4

7 Overseas Private Investment

Corporation

266 2


Corporation

237 11

9 European Union 216 2

= Agence Francaise de

Development

216 2

/18 ijglobal.com



2 GMR Group 997 3

3 Oaktree Capital Group 855 1

4 LS Power 750 3

5 Aboitiz Power Corp 748 1

6 NRG Energy 668 1

7 Korea South-East Power Co 594 2

8 Nava Bharat Ventures 540 1

9 Macquarie 538 2

10 Mitsubishi Corp 523 2





4 ING Group 674 12


6 Bank of Montreal 548 3

7 BNP Paribas 477 7

8 Mizuho Financial Group 438 9

9 Industrial and Commercial Bank of China 435 6

10 Santander 376 7

POWER SPONSORS

POWER DFIs

POWER PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

POWER MLAs

US$m Count


0

5

10

15

20

25

30

35

40

45

-

5,000

10,000

15,000

20,000

25,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Power league tablesQ1-Q3 2015


Tran.


2 KfW 186 4



Korea

89 1

5 Industrial Development

Corporation of South Africa

75 1

= Development Bank of

Southern Africa

75 1


8 Corporation Bank 54 1

= Andhra Bank 54 1

= India Infrastructure Finance

Company

54 1

= Oriental Bank of Commerce 54 1

POWER LEGAL ADVISERS


Tran.


McCloy

3,450 5




5 Morgan Lewis & Bockius 2,366 3




9 DLA Piper 1,709 3

10 Gide Loyrette Nouel 1,521 1

POWER BOND ARRANGERS


Tran.


Group

395 2

2 Sumitomo Mitsui Financial

Group

258 2

3 Societe Generale 222 1

4 HSBC 173 1

5 Lloyds Banking Group 133 1

= Royal Bank of Scotland 133 1

= Santander 133 1

8 Scotiabank 85 1

= Bank of America 85 1

= JPMorgan 85 1

= Mizuho Financial Group 85 1

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TRANSPORT PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

US$m Count


0

5

10

15

20

25

30

35

40

45

50

-

5,000

10,000

15,000

20,000

25,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Transport league tablesQ1-Q3 2015

TRANSPORT LEGAL ADVISERS

TRANSPORT FINANCIAL ADVISERS

TRANSPORT TECHNICAL ADVISERS


Tran.


2 DLA Piper 11,716 5

3 Hogan Lovells 7,728 5

4 Orrick, Herrington &

Sutcliffe

7,685 3

5 Ashurst 7,549 6



McCloy

6,543 3


= Verdi 6,356 1

10 Taft Stettinius & Hollister 5,649 1


Tran.

1 PwC 10,366 7

2 UBS 7,421 2


4 HSBC 6,597 4

5 Macquarie 6,048 3

6 BBVA 5,922 3

7 Santander 5,729 2


= Moelis & Company 5,649 1

= Houlihan Lokey 5,649 1


Tran.

1 Arup 12,313 6

2 CH2M Hill 9,518 3


4 Infrata 2,936 1


6 Rider Levett Bucknall 1,641 1

7 Hatch Mott MacDonald 1,520 2

8 Altus Group 1,514 1

9 BTY Group 1,273 2

10 Aon 1,026 1

TRANSPORT SPONSORS TRANSPORT MLAs TRANSPORT DFIs


Tran.


Group

2,142 13

2 Sumitomo Mitsui

Financial Group

1,533 12

3 ING Group 1,479 9


5 Commonwealth Bank

of Australia

1,244 7

6 Goldman Sachs 1,200 3

7 BNP Paribas 857 9

8 BBVA 842 9

9 Scotiabank 836 7

10 Westpac 831 6


Tran.


Cooperation

1,190 1

2 European Investment Bank 1,162 4

3 KfW 637 4

4 Export Development Canada 494 2


Corporation

257 2


7 European Bank for

Reconstruction and

Development

90 1


9 Corporacion Andina de

Fomento (CAF)

50 1


= West African Development

Bank

6 1


Tran.


2 Hitachi Ltd 2,369 1

3 Eiffage 2,010 2

4 Astaldi 2,004 2

5 Macquarie 1,733 3

6 IRB Infrastructure

Developers

1,357 2

7 John Laing 1,345 2

8 Plenary Group 1,311 3

9 Ozaltin 1,271 1

= Nurol 1,271 1

= Makyol 1,271 1

= Gocay 1,271 1

/20 ijglobal.com



2 DIA Holding 1,229 1

3 AMP Limited 940 1

4 Mubadala Development Company 834 1

5 Healthscope 645 1

6 Astaldi 618 1

7 Turkerler 594 1

8 Corvias Group 563 1

9 Capella Capital 473 1

= HostPlus Pty Limited 473 1



2 Westpac 600 5

3 Isbank 490 3


5 National Bank of Abu Dhabi 312 2


7 Australia and New Zealand Banking Group 291 2

8 Aviva 262 4

9 UniCredit 260 2

10 Garanti Bank 234 1

SOCIAL & DEFENCE SPONSORS

SOCIAL & DEFENCE PROJECT FINANCE TRANSACTION VOLUME 2010 - Q3 2015

SOCIAL & DEFENCE MLAs

US$m Count


0

5

10

15

20

25

30

35

40

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Q2 2010

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q4 2014

Q1 2015

Q2 2015

Q3 2015

Social & Defence league tablesQ1-Q3 2015

SOCIAL & DEFENCE LEGAL ADVISERS

SOCIAL & DEFENCE FINANCIAL ADVISERS

SOCIAL & DEFENCE TECHNICAL ADVISERS


Tran.

1 DLA Piper 3,322 6




5 Freshfields Bruckhaus

Deringer

2,460 2


= Stibbe 2,229 1


9 Herbert Smith Freehills 1,958 3

10 King & Wood Mallesons 1,585 2


Tran.

1 UniCredit 2,460 2

2 PwC 2,077 4


4 Capella Capital 1,314 2

5 Aon 1,248 1

6 Citigroup 1,213 1

7 Macquarie 1,077 3


Group

940 1

= FMO 940 1

= Goldman Sachs 940 1


Tran.


2 Arup 940 1

3 Evans & Peck 645 1

4 Mill Group 370 1

5 WSP Group 311 2

6 Gleeds 298 2

7 Dolsar 285 1

8 Turner & Townsend 230 1

9 Altus Group 218 1

10 BTY Group 204 1

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q3 2015 league tables analysis - ijglobal league tables 2015.pdf · oil & gas cidade de...

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