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GLOBAL PROJECT FINANCE REVIEW
REUTERS / Mari
GLOBAL PROJECT FINANCE REVIEWMANAGING UNDERWRITERS
First Quarter 2015
# of Deals per Arranger
-17.5%-37.7%
Industry % Change over Same Period Last Year-57.7%-26.5% -17.7%
Industry % Change over Last Quarter Industry % Change over Last Quarter-37.3%8.0%
Bookrunner
Proceeds per Bookrunner (US$m)MarketChange in 2015
RankMarket
Proceeds per Mandated Arranger (US$m)
Sh % Sh %Market
Sh Ch.# of
Deals2014 Rank
# of# of Deals
Change in MarketDeals # of Deals
# of Deals per BookrunnerMarket2015
Rank Sh %Proceeds Sh Ch.Sh %Mandated Arranger2014 Rank
MarketProceeds
Industry % Change over Same Period Last Year-41.5%
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y g y g
Proceeds % Chge in ProceedsUS$m US$m
No. Proceeds
Issues
Region No.
Issues
Mkt.ProceedsProject Finance Sector Sh % US$m
No.No. ProceedsIssuesIssues Sh %
Chg. in US$m Mkt. Sh
Mkt.
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Panama -
1 163.6 1104.01 ▼
▼
11.9 1 - -
-36.4
-
290.5 3 1,800.0
2 230.0Mexico
ChileCentral America
1,474.6
230.0 2
Caribbean
United States of AmericaUnited States of America 6,310.3
11 4,368.43,058.2South America1,417.9
North America
9 -18.0
3
7,728.2 30 10,489.2
25 8,760.7
-26.3
5 1,728.5Canada
Brazil 2,348.0 5 2,129.8
41
49 -18.112,360.6 46 15,087.6US$m Issues US$m Issues
Americas
Scorecard: Americas Project Finance1/1/2015 - 3/31/2015
% Chge in Proceeds
Proceeds No.
1/1/2014 - 3/31/2014
▼
-30.0
Proceeds No. Nation
730.0
▼
▼
▼32 -28.0
Borrower Sector
380.0
US$(m)
550.0
United StatesPower
Package Amt
Brazil
BrazilPanda Temple Power I LLC
Uruguay 315.7 2 - --83.9PeruPeru
Project
United States595.0
3/17/2015
Jan 1 - Mar 31Top Americas Deals
Date
1/14/2015
3/24/2015
▼
10.2 3/25/2015 491.6
1/9/2015
735.0
Los Ramones North Pipeline
Close
546.3
Canada
United StatesTerraForm Power Inc
PowerPower
United States
PowerPower
908.4
Footprint Power Salem Harbor
Creek Power Hydro
Itau Unibanco Holding SA410.8
Industry
Power
Power
MexicoBrazil
Raizen Cayman Ltd
1/16/2015 West Deptford Energy Station
1,274.6SPSL
United States1/28/2015
Power
3/10/20153/6/2015
400.0
1,486.5
3/31/2015 Kay Wind LLC
Americas Project Finance Volume
Oil & GasWater & Sewerage
Americas Project Finance Declined 18% I Los Ramones North Pipeline Largest Deal in the First Quarter
First Quarter 2015 | Project Finance | Managing Underwriters
Americas Project Finance
2 541.1
- -
3
87.7 2 - - - -
-
Jamaica 62.7 1 - - -
6
-
Trinidad and Tobago 25.0 1 - - - 80$40
- -
Mkt.
1 - - -
2,024.6
-735.0
61.9
-6.0 908.4
46.2 34
16.4 2,230.7
6,968.9
0.3
15.7Sh %
Proceeds Mkt.IssuesSh %
Chg. in Proceeds
Leisure & Property
4
7,648.8Borrower Industry
1/1/2014 - 3/31/2014
12,360.5
1/1/2015 - 3/31/2015
31
34.6100.0
4.1
US$m
--
100.0100.0
14.8 10 -
-
Industry Total
-1.6
No.Mkt. Sh
-
15,087.6
--12.3
6 -21.0
2
Industry 1
Jan 1 - Mar 31Sector Analysis
Oil & Gas
Power
7.4 Water & Sewerage
46 49
-3,788.0 25.1
US$m
1 -
No.Issues
▼Telecommunications 305.0 2.5 2 - -Transportation 504.1 2
▼- -
Mining 200.0 1.6 1 2,100.0 13.9
Americas Project Finance By Sector (US$m) Jan 1 - Mar 31
0
10
20
30
40
50
60
70
$0
$5
$10
$15
$20
$25
$30
$35
1Q
10
2Q
3Q
4Q
1Q
11 2Q
3Q
4Q
1Q
12
2Q
3Q
4Q
1Q
13
2Q
3Q
4Q
1Q
14
2Q
3Q
4Q
1Q
15
# o
f Iss
ue
s
Pro
cee
ds
(US
$b
)
Power
Oil & Gas
Water & Sewerage
Industry
Transportation
Telecommunications
Mining
Leisure & Property
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# of Deals per Arranger
2015 Rank
First Quarter 2015 | Project Finance | Managing Underwriters
Change in Proceeds per Bookrunner (US$m)
▼ Rabobank NV
8.7
1,075.6
-8.7
0
Proceeds per Mandated Arranger (US$m)
-
▼
1
Jan 1 - Mar 31
Santander
# of Deals per Bookrunner
▼19.6
Market
10.9# of Deals
6.5
2014 Rank
20
1
23.9
-
-1
10.9
Mandated Arranger Bookrunner Proceeds2014 Rank
Americas Project Finance
Sh %MarketMarket Change in 2015
Rank Sh Ch.
26
Deals
0.4
-3# of Deals
100
25.05.2 5.0
Market # of
-1.7 ▼
Sh %
-2
0
-2
▼
▼1
1
-3
-
Mitsubishi UFJ Financial GroupMizuho Financial Group 2 9
1
Natixis 4 143
0
97.0
717.9 5.8869.8 11
581.915.27
3Sh Ch.
2.21.0
Proceeds# ofMarket
2Sh %
MarketSh %Deals
13 658.4Sumitomo Mitsui Finl Grp Inc2.12.75.3
5 10.94.74.0 2.250* 491.6 3.6 1
10 383.13.13.1 ▼ 4
▼ 4
Manulife Financial Corp 5-0.3-1.87 4 377.3Bank of America Merrill Lynch
Citi 6
310.6 2.52.7
377.1333.9
2.0
254Santander 8 15
90.73.1
Rabobank NV
-1.6 3
2.5Credit Agricole CIB 10
11
BBVA▼ 5
465
14
-1.6309.7
Caixa Economica Federal 12* - 302.8
15
2.22.5
2.58.7
302.817* 302.8
2.5
2.412.5
2.5 0.6
1 2
Itau Unibanco 1
11 300.7Banco BTG Pactual SA 12*
12*-
24 285 5 2 3-0.5 ▼ 4
KeyBanc Capital Markets Inc 16Societe Generale
3 6 5 1 ▼
▼
2
2.2
8.7
8.7
2.2
6.5Credit Agricole CIB
ING
2-2 ▼
4
-2
Bank of America Merrill Lynch 6
2
1Mitsubishi UFJ Financial Group
Natixis 5
8
13
641.2Mizuho Financial Group 3 5 613.5Manulife Financial Corp
458.8491.6
4.6
6.215.0 5.0
7.5 -32.4
-01 2.5
15.0
▼ 3 7.5 -3 ▼3 ▼
4 10.0 1-11.6 ▼
6 392.1
0.4BNP Paribas SA 7 1 349.4 3.5
-0.84.0
▼3 7.5 -1-1▼
4 10.0▼3 7.5
1-3.3
3.3Citi 9
3.13.1
4
Sumitomo Mitsui Finl Grp Inc
11 324.4
3309.7
3.2314.210
7.511 17 308.62.9 -1.3
1.130 2.6
▼▼ 2 5.0 -3-
Goldman Sachs & Co 12 8 281.7KeyBanc Capital Markets Inc 13 24 216.8
0
▼2 5.0 -1 ▼2 -15.0
2.22.2 0.6
14*Scotiabank 14* 216.3
10 216.318
164 10.0 -3 ▼
21 208 8
1.3
▼2.2Societe Generale
-1.20 9Societe Generale
Americas - Bookrunners (X5) Jan 1 - Mar 31Americas - Mandated Arrangers (X4)
Bookrunner Total
* Tie
2 5.0
1.7
25 34 155.6 1.6 1.2 1
-3
▼9.2%Industry % Change over Last Quarter ▲
4612,360.5
-18.1%23.3%
-25.4%
3
▼
CoBank ACB
▼▼
-7
-5
-31.2
17 8 258.824 285.5 2.3
-1.6Goldman Sachs & Co 2.1KeyBanc Capital Markets Inc 16 3 6.5 -1 ▼
▼ 2 4.3 ▼
▼ 4BNP Paribas SA 18 1 257.5 2.1
19 6 216.353 214.4
-8.9▼
▼ 4 8.7 1-2.0ING1.4
1.8 8.7
Deutsche Bank 2 197.821CoBank ACB 20 3 6.5 2
1.5▼ 21.6 4.3
-1-5.1
1 2.2SunTrust Banks 26Credit Suisse 22 44 0.9
23 0.5
8,788.5
1.50.9
190.0
241.51.5-
186.93
436.1
1.56.5 36.5 -1
25180.6
2▲71.3
-4.3 0Top Twenty Five Total
180.3Bayerische Landesbank GiroGeneral Electric Co
-16 -
▼
21 208.8
Industry % Change over Last Quarter-6.1%-6.1%
9,894.4 40
Societe Generale 0.9Societe Generale
▼
100.0
-14.9%Industry % Change over Same Period Last Year ▼ Industry % Change over Same Period Last Year
Industry Total
▲
Top Twenty Five Total 3.294.89,979.2
45.9% ▲ ▲
▲
25.5%
-7
-7100.0
17 3Deutsche Bank 17 3Deutsche Bank 197.8 2.0 -5.7 ▼ 2 5.0 ▼
Credit Suisse 18* 26 190.0 1.9 1.2 1 2.5 -1 ▼Macquarie Group 18* 23 190.0 1.9 0.7 2 5.0 -1 ▼SunTrust Banks 20 22 186.9 1.9 0.7
3 7.5 33 7.5 -1 ▼
1.8 1.51.8- 180.6 1.8
37 180.3 2 5.0 11.8 1.7 2 5.0 1
2 5.0 -2 ▼1.641 177.5
24 0.1BMO Capital Markets 23Morgan Stanley 19 159.3
General Electric Co 21Bayerische Landesbank Giro 22
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▼Austria 32.4 1 70.8 2 -54.2
Scorecard: EMEA Project Finance
Innogy Nordsee 1
PowerPetrochemicals
Jan 1 - Mar 31Package Amt
Top EMEA Deals
5,197.1
Project
3/25/2015
Power
SectorNation
BorrowerClose
Sweden
Transportation
Borealis Swedish ElectricityUS$mDate
France
Alpha Trains Emil SarlE.ON Regulated Energy Distn
Oil & GasLeisure & Property
Saudi ArabiaUnited Kingdom
Germany
Bilkent Hospital PPPSpain
Ghana3/30/2015
EMEA Project Finance by Sector
Yinson Offshore Cape Three
7
3/17/2015▲▲ Transportation
3/27/2015
2/27/20153/25/2015
XL Trains [Thameslink PPP]
3/26/20153/25/2015
1,316.7
969.2
Luxembourg
Turkey
2/19/2015EMEA
Rabigh Refinery Project
3/17/20153,751.35,167.9
1,809.21,900.0
APRR28,547.1
1,206.9
Petrochemicals
First Quarter 2015 | Project Finance | Managing Underwriters
EMEA Doubles at US$28.5 billion I Saudi Arabia up 2300%
Power
Europe, Middle East & Africa Project Finance
Rabigh Refinery Project Saudi Arabia
Transportation1,223.1
780.0
1/1/2015 - 3/31/2015% Chge in Proceeds
Proceeds No. Proceeds No.US$m Issues US$m Issues
47 19,993.3 57 42.8 ▲Western Europe 17,449.8 34 13,776.5 43 ▲26.7
Sweden 4,843.5 1 2,736.6 2 77.0
3,551.3 10 1,810.7 8 96.14 832.2 14 363.8
▲Spain
▲
France 3,859.9
6.2 ▲Germany 1,993.2United Kingdom
3 648.2 3 207.5
-Luxembourg 1,223.1 - -1
Eastern Europe 1 219 2
1,539.9 5 1,449.5 4-
1
1 -
▼2 3 746 8 67 5
1/1/2014 - 3/31/2014
5 219.8 3Republic of Ireland - - -
-20.1 ▼Italy 175.773.1
-Belgium 67.7 1 159.3 1 -57.5
-92.2
▼Finland 51.4 1 - - -
▼495.8Netherlands 38.6 1
$10
Waste & Recycling 48.8 0.2 1 - -
-Zimbabwe 43.7 1 - - - -Burkina Faso 75.0 1 - - -Jordan 129.0 1 - - - -
Turkey 969.2
57 100.0
383.3
47
335.0
-
19,993.3
2 - -
2.2
2,633.7-
-12.0
-▼
4 Mining
-
13.2
622.9Industry2
1,443.0
Petrochemicals1,620.2
-Water & Sewerage
1.2 1.3 0.40.9
1/1/2015 - 3/31/2015
10 5.1
Industry Total 28,547.1
▲
2 7,975.1 39.9 -
-34.8
183.4
Mkt. ShUS$m Sh %5,067.7
▼
100.0
780.9 3.9 4 1.2
Oil & Gas
246.16
2
1
▲
12 15.2 3,036.5▲
1.81
11.423.6
▲
6
Jan 1 - Mar 31
7.7 ▲
# ofDeals
25
7
US$mChg. in
▲
# ofProceeds
24.8 2
Power
7,067.9
23
Leisure & Property 5.7
Borrower Industry
Sector Analysis
25.4 Deals
9,445.3
Mkt.Sh %
1/1/2014 - 3/31/2014Mkt.Proceeds
26.6 33.1
Transportation 7,580.8
Eastern Europe 1,219.2
- -1 24.0 1 3,938.3
-2,470.0
Saudi Arabia 7,690.8
▼2 3,746.8 -67.5
1 -9,878.2
- -Ghana
▲
Georgia 250.07 299.9 ▲
Kazakhstan 260.0
3 320.0 1▼
Nigeria 663.0 1 - -1780.0 1
- -
1,500.02,303.4
-48.0
-
150.0
1 -
Oman 236.7 2
11Africa/Middle East/Central Asia
1 57.8 ▲
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$
Pow
er
Transportation
Petrochem
icals
Leisure &
Property
Oil &
Gas
Industry
Water &
S
ewerage
Mining
Pro
ceed
s (U
S$b
)
January 1, 2015 - March 31, 2015
January 1, 2104 - March 31, 2014
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-5▼
3 ▲
Credit Agricole CIB
# of Deals2014 Rank
Market# of # of
Jan 1 - Mar 31
2015 Rank
2.7
Proceeds per Bookrunner (US$m)
Sh Ch.
EMEA - Bookrunners (X16)EMEA - Mandated Arrangers (X15)
1,685.5
MarketSh % Sh Ch. BookrunnerDeals
6.1Proceeds
Change in
3Societe Generale
1
4
1,329.442Mitsubishi UFJ Financial GroupSumitomo Mitsui Finl Grp Inc
15Mandated Arranger
2014 Rank
2015 Rank
MarketSh %
Jan 1 - Mar 31
Proceeds-
First Quarter 2015 | Project Finance | Managing Underwriters
# of Deals per Arranger
3 ▲# of Deals
Market
17.0
Proceeds per Mandated Arranger (US$m)
▲ ▼-285.9
4.7 0.32
▼6 12.8
3.8
▲Sh %
Market
7.7
▼
▲▲
Market
3.9 Societe Generale▲
Europe, Middle East & Africa Project Finance
930.453 -0.71,080.5
14.9 -37
14.97
Deals0
Change in # of Deals per Bookrunner
Sh %
KfW IPEX-Bank GmbH 5988.3
1.7 14.93.3173.5 0.3 7
▼BNP Paribas SA 6 1 918.6 -2.93.2 ▼6 12.8 -25 10.6 4
RBS 8.5 0 -
▲▲12.8 3
▲60 2.7Mizuho Financial Group 7UniCredit 8 38 700.6
777.1
650.22.5 2.0
9▲
0.9 ▲2.3642
ING 11* 2 571.5 2.0
22Riyadh Bank Ltd 10 - 583.0 2.0 4.3▲ 2
4 8.5 -42.0 -0.9
-2.5 ▼2.0
-1
2
SEB 11* 7 571.527* 543.4Scotiabank 13 3 6.4
4 8.5▼
2 4.31.6 1.60.7 ▲
▲1.9
Saudi British Bank 14 - 447.4Deutsche Bank 15 12 436.9 -1.1 ▼
▼▼ 21.5 2 4.3 -1
N ti i 16 14 412 0 3 6 41 4 0 9
Natixis
2
Mitsubishi UFJ Financial GroupBNP Paribas SA
Deutsche Bank
BBVA
▲
▼▲
KfW IPEX-Bank GmbH
HSH N db k▼▲
▼
2* 1
2*2*
Commerzbank AG
-
Saudi British Bank
21*
Credit Agricole CIB 2* 4
14 -
2* 12
8RBS 9 21*
30Santander
UniCredit
4.3535.9 5.41 8 604.1 2.32* -
▼3.8▲▲
1 3.8 0
-
5.4 ▼▼▲ 15.4 3.3
1
5.4-3535.9-11
1 3.8-2.3535.9 3.4
3.8 -3535.95.3 ▲5.4535.9 3.8 0
2 7.77.7
▼11
-5.4535.9266.0 2.7 ▲2.7
0.0
1 ▲2
▼1 3.8▲
11 26 192.3
▲
-521
1.52.0 ▲
Nord/LB 12 24 183.7 1.9
110 - 197.52.0
▲3.8
208.7 2.1 1.0
▲2.0
▲ 3 11.51.1 ▲ 4 15.4 3
1▲
1 ▲▼1 3.8 -110 167.9 1.7 -0.6
▲▼
99.9 1.0▲
0 5 ▲
3.81.0 10.770.0
51 40.7 ▲1 3.8 1
0 5 ▲11 3 816Bank Muscat SAOG 15 -
13
* Tie
* Tie
▼ ▲1
-17.5% ▼
▼▼ -2Natixis 16 14 412.0 3 6.41.4 -0.912 4.3
2 4.3 -3Credit Mutuel SA 17
1.3 -1.71.3 ▲
▼1.456 397.2
1.3HSBC Holdings PLC 18 6 373.0Commerzbank AG 19 - 371.1 2 4.3 2
341.8
▲1.2 1.2
1.3 ▲▲▲ 2 4.3
1.1 0.8
Banque Saudi Fransi 20 - 347.5-0.2Santander 21 23
Banca IMI (Intesa Sanpaolo) 22 4423 54* 279.6Banco de Sabadell
BBVA 24 4.3▲34 277.2 1.0
313.4
Industry % Change over Same Period Last Year 42.8% ▲
Top Twenty Four TotalIndustry Total
15,327.1
1.0 0.82
▲
▼1.2
53.8
▲4▼ -1
1
Banca IMI (Intesa Sanpaolo)
10.9
1▼-10.3 2
-10
HSH Nordbank▲
▲▲4.3
Standard Bank Group Ltd
2
28,547.1
Industry % Change over Last Quarter 27.4% ▲ ▼-44.7%
100.0 47
2 4.3
8.5
0.5 ▲51.4- 0.5110.4
▲11 3.8
27.5
0.418 - 43.7 ▲
▲-
1 ▲
0.5 0.5 ▲3.8
▲1 3.8
Unione di Banche Italiane Scpa 19 - 26.5 1 3.80.3 0.3 ▲
1617 - 45.5
100.05,380.7 54.4Top Twenty One Total
-8
Industry % Change over Same Period Last Year -25.6% ▼ -23.5% ▼
Industry Total
Industry % Change over Last Quarter -11.8% ▼ -54.4% ▼
269,874.8
0.0 0.0Triodos Bank NV 20 - 6.6 0.1 0.1
1 ▲3.8 1 ▲1
1 3.8BMPS 21 - 1.5
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1,758.6 4 ▼-95.2
--
1,126.9 15 -15.0 ▼
South Asia 2,179.8 131China
957.8 1113 2,905.3 -25.016
▼
Jan 1 - Mar 31Top Asia Pacific & Japan Project Finance Deals
- - -16
2 -155.33
568.6South Korea 641.2
▼2,905.3
India 2,179.8-25.0
North Asia 1,209.8 3 355.32
Laos 84.0 1240.5 ▲
- - - -
▼▼▼
-14.1-13.8
-22.848
Southeast Asia 84.0 1
Australasia 3,085.4 6 3,592.0 109
Issues US$m
Australia 3,085.4 6 3,579.7
34 9,738.1Asia-Pacific & Japan 7,516.8
Scorecard: Asia Pacific (inc. Australia & Japan)1/1/2015-3/31/2015
% Chge in Proceeds
Proceeds No.US$m
No.Issues
Project
483.5
Hills Motorway Management Ltd
Pacifico Energy Hosoe GK
1,293.9
575.2
Transportation
China
First Quarter 2015 | Project Finance | Managing Underwriters
Asia Pacific (inc. Australia & Japan) Project FinanceAsia Pacific & Japan Down 23% I Transportation Sector at US$2.7 billion I Australia – Busiest Market
Borrower SectorClosingDateProceeds
TransportationWater & Sewerage
Package AmtUS$m
PowerTransportation
AustraliaAustralia
Nation
815.1
Australia568.6
India
South Korea Leisure & Property
Power
293.6Japan
Jan 1 - Mar 31
Project Nation Breakdown
266.3 India
Japan
2/6/2015
1/1/2015 3/31/2015
PetrochemicalsTransportation
Bharat Oman Refineries Ltd India
3/13/20151/1/2015
3/16/2015
752.4
3/16/2015
SDP Finco Pty LtdConnectEast Finance Pty Ltd
CLP Guangxi Fangchenggang3/12/2015
2/25/20153/30/20153/10/2015
3/4/2015
1/1/2014-3/31/2014
Nandi Economic Corridor Transportation279.7
Chungjin Project Co Ltd
289.1Yedeshi Aurangabad Tollway
IndiaDA Tollroads Pvt Ltd
Sector Analysis1/1/2014 3/31/2014
$4
3.2
36.5 Mkt. Sh
Mkt.
▼
1
2
# of
1 2
Deals US$m
14.8256.4
Chg. in Proceeds
230.6
8.5 3 ▼
▲7.4
Sh % Deals# of
▲40.9
2.6
▼-15.2
3.83
Industry Total 7,516.8 100.0 48 9,738.1
525.4
825.5
309.7
100.0333.2
1/1/2015-3/31/2015
25.7 16
▲
-0.9
2.4
-4.134
Water & Sewerage
12 US$m Sh %
1,932.93,551.5
1
3,984.4
10.0
25
Petrochemicals 752.417.2 1,293.9
Oil & Gas 2
12
Proceeds
Leisure & Property 7.0
4.4
Power35.6
Borrower IndustryMkt.
Transportation 2,679.0
1/1/2014-3/31/2014
$0
$1
$2
$3
Pro
cee
ds
(US
$b
)
January 1, 2015 - March 31, 2015
January 1, 2014 - March 31, 2014
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▲ 1 3 7 1 ▲▼ 1 3.7 -1 ▼
15 26 9 0 8 0 8ICICI Bank Ltd 14 4 51.7 1.5 -6.1
66.6 2.0 2.0 ▲ 1 3.712 - 68.1 2.0 2.0 ▲ 1 3.7 1
11.8 -2 ▼3 ▼8.8 -54
6.9 2 5.98
▲
▲Resona Holdings Inc 13 -
Mitsubishi UFJ Financial Group 2 6 878.78.515
11.7641.2
State Bank of India 1,303.2
2015 Rank # of DealsMandated Arranger Proceeds
Market2015 Rank
Market
Asia Pacific & Japan- Bookrunners (X28)Jan 1 - Mar 31
Proceeds per Mandated Arranger (US$m) # of Deals per ArrangerMarket
DealsMarket# of2014
Rank Sh %Sh %
2
Bookrunner-20.6
23.5
Proceeds# of Market
Proceeds per Bookrunner (US$m)
Jan 1 - Mar 31
Change in
Asia Pacific & Japan- Mandated Arrangers (X30)
# of Deals per Bookrunner
First Quarter 2015 | Project Finance | Managing Underwriters
-
1# of Deals
19.1 -Sh Ch.
-9.8State Bank of India0
▼14.2 18.57.4
5101 474.4▼-2
641.2▲
0.91 1Sh % Sh Ch. Deals
2014 Rank
Sumitomo Mitsui Finl Grp Inc 423.87
Change in
-0.71.6
5.6▲▼
17.3
Commonwealth Bank of Australia 4 83Korea Development Bank
5.1
6.0450.4
National Australia Bank 6*
9 141
5 3▲0.5
382.36*
13.7
1.92.9
266.3 3.5 ▲3.4 ▲
Westpac Banking 10382.3
05.1 3 8.82.5 ▲-3
3.4Mizuho Financial Group -2.5 5
8.83
IDBI Bank Ltd 8 39 279.7
220.5 2.9▼253.6
2.9CIBC World Markets Inc 11 20* 1.7RBC Capital Markets 2.9
14.7 -75.9 0
2 5.9 2▲▲
Industrial & Comm Bank China 13* 189.5- 1▲2.5Agricultural Bank of China 13* - 189.5
13*2.52 5Bank of China Ltd
▲2 02.5 1
12.92.9 1
-2.9
Deutsche Bank▼
▲
Development Bank of Japan IncIDFC Ltd
-▲ Commonwealth Bank of Australia
Bank of India
6
9 38 13
Sumitomo Mitsui Finl Grp Inc 7HDFC Bank Ltd
Axis Bank LtdIDBI Bank Ltd
431.2
5 14
3 5
6
Mitsubishi UFJ Financial Group ▼7.6 ▲ 4 14.8
20 -
▲16.1
▼Mizuho Financial Group 4 2 318.8 9.5 -414.8
9 266.3
-2-2.1 4▼
04.7
12.9
279.7
220.1
▲ 1 3.78.4 7.818.0
3.72.1▲ 3.7
-3.7 0
-▼
-1
▲6.6
128.7 3.8 2.8▲ 1
-6.6 ▼ 3.71
11 70.6 ▲- 2.1
123.410 - 73.3 2.2 2.2 1
2.1
▼3.7▲
3.71 ▲
1 3.7 ▲1
1 ▲
0
▼
▲ 7
Market
5.9
Sh %0
00
0
--
-201
-
▲
4
33* ▲
Korea Development Bank
Axis Bank Ltd
-2.5
12
2 91
2219.3
189 5
Asia Pacific (inc. Australia & Japan) Project Finance
10
* Tie
1 3.7 1 ▲1 3.7 1 ▲0.3 ▲
Senshu Ikeda Holdings Inc 16* - 11.3 0.3 0.3 ▲
▲ 1 3.7 1 ▲Bank of Kyoto Ltd 16* - 11.3 0.3
15 - 26.9 0.8 0.8
Asia Pacific & Japan Project Finance By Sector (US$m) Jan 1 - Mar 31
13 2.5Bank of China Ltd 2.0▼-4.6 1 -7
1▲161.7 2.2 2.21.7 1
Deutsche Bank 22
5.999.520Development Bank of Japan Inc
0.9
- 1.321
1.3 22.9
70.6▼
2.91▼1.6 -4.2
73.322 1.0
0.9- 66.6
-0.1-
1
123.4
0.9
2.9▲ 11
0.9
2.9▲
100.0
2.90.896.6
▼ 1
2.9
2.9 ▼2.9
- Bank of India
▲2
-3
1-▲
100.03,351.3
▼-18.2%
-5
-15.6%
27
▼-32.0%
-14
Top Sixteen Total 3,263.6
Industry % Change over Same Period Last Year▼Industry % Change over Last Quarter
Industry Total
▼-69.0%
-
▲
0▲1
1
0
0
▼- 26.990.5
2 161.733
2.2
Industry % Change over Same Period Last Year
16*▲
128.7 1.2
Industry % Change over Last Quarter▼
19
ANZ Banking Group
23*
7,516.8Top Twenty Four Total
24* 16
5
-
Resona Holdings Inc 23
-63.8%
Citi
Industry Total
-22.8%
28.9
-29.2%-29.2%
▼▼
1816*
0
HSBC Holdings PLC
IDFC Ltd
24* -0.1
HDFC Bank Ltd
Credit Agricole CIB
▼
▼
7,270.334
157.5
2.91189.5
-0.6 2.9
▲
▲
57.5
36
Scotiabank 0.8 ▼-1
Transportation
Power
Water�&�Sewerage
Petrochemicals
Leisure�&�Property
Oil�&�Gas
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First Quarter 2015 | Project Finance | Managing Underwriters
Project Finance Criteria Summary
If you would like to participate in the submissionprocess, receive quarterly press releases, orhave questions about league table criteria pleasecontact:
Europe
Americas
E-mail: [email protected]: +1 646 223 8455Salvatore Reres
Bookrunner league tables will give full credit to the bookrunner, equal if joint. In cases of consolidation, credit will be given to the surviving/parentfirmEwelina Jarecka
Database coverage includes all loan transactions that have reached General close between January 1, 2015 and March 31, 2015 of whichThomson Reuters has been made aware. All current data and previous year's data is as of 2:00pm EDT on April 1, 2015.
League tables include limited recourse project finance, non-recourse project finance, and project finance loans and exclude loans with amaturity of less than 90 days from financial close.
Self-arranged, commercial and unknown loans are excluded from league tables as well as loans with a maturity of less than 90 days.
All league tables are based on deal proceeds unless otherwise specified.
Regional league tables are based on Project Nation.
Tel: +44 207 542 2246
Asia Pacific:
E-mail: [email protected] Mandated Arranger league tables will give equal credit to the Non-Americas mandated arranger and equal credit to the Americas Tier 1 agent. Incases of consolidation, credit will be givien to the surviving/parent firm
-
-
JapanMegumi KonoTel: +813 6441 1155E-mail: [email protected]
Tel: +632 459 1566Carina Causon
E-mail: [email protected] All league table volumes and rankings are based on general close date instead.
Asia Pacific: Non-US dollar denominated transactions are converted to the US dollar equivalent at the time of pricing.
While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its thirdparty content providers shall be liable for any errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third partycontent provider. Thomson Reuters disclaims all warranties, express or implied, as to the accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to theextent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transaction or trade and does not provide any form of advice (investment, tax, legal)amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying or selling of securities. ThomsonReuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document.
© 2015 Thomson Reuters. All rights reserved.
Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevantthird party.
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