mashreq...Saudi Arabia’snet foreign assets dropped to the lowest level in more than two years in August, as the world’slargest crude exporter grappled with oil prices below USD50

mashreqFixed Income Trading

Daily Market Update

Market Update

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Saudi electricity saves USD400 Million on copper-aluminum switch

Saudi Electricity Co., the dominant electricity provider in the Arab world’s biggest economy, saved 1.5 billion riyals (USD400 million) in one year by

switching from copper to aluminum in its power-transmission projects. “We have an initiative to change from copper to aluminum, ”Osama Khawandanah,

senior vice president of energy trading and ventures at Saudi Electricity, said in an interview in Abu Dhabi on Sunday. Aluminum is “much less expensive”

than copper. Aluminum is about one-third the cost and 10 times more abundant than copper in warehouses monitored by the London Metal Exchange. In

China, the world’s biggest metals consumer, changes in building codes have the potential to shift as much as 500,000 metric tons of annual demand to

aluminum from copper, according to Bloomberg Intelligence. That’s almost 20% of LME aluminum inventories. Copper has dropped 19% this year and

aluminum is down 16%, amid a glut of raw materials and concern of slowing economic growth in China. (Bloomberg)

Oman to start selling debut sovereign Islamic bonds this week

Oman, the Middle East’s largest oil producer outside OPEC, will sell its first sovereign Islamic bond this month as the nation seeks to develop its capital

market and provide Shariah-compliant banks an investment avenue. Subscription to the five-year notes will be open from October 8 to October 22, with the

size and profit rate to be set after a book-building process, the ministry of finance said in an e- mailed statement on Sunday. Bank Muscat SAOG and

Standard Chartered Plc will manage the sale of the rial-denominated securities, it said. The government has “identified a need for investment avenues for

Islamic financial institutions, Islamic funds and takaful operators in Oman to deploy their excess funds in a shariah-compliant manner," Mohammed Jawad

bin Hassan, adviser to the ministry of finance and chairman of the sukuk committee, said in the statement. The sukuk will also help “the government’s

objective of developing the capital market in Oman,” he said. Oman, like many nations in the Middle East, has been hurt by a halving of oil prices in the

past year that’s pushed countries including Saudi Arabia to sell local currency bonds. Oman’s budget deficit will expand to 13.1% of GDP this year,

according to the median of five economists’ estimates compiled by Bloomberg. Oman’s securities have been structured as Ijara sukuk, which have a lease-

based structure. They will be issued by a special-purpose vehicle wholly-owned by the finance ministry, Oman Sovereign Sukuk SAOC, and will be listed on

the Muscat Securities Market. (Bloomberg)

Emirates dispels speculation of big order at Dubai air show

Emirates is studying variants of Boeing Co.’s 787 and Airbus Group SE’s A350 and won’t make a decision on a potential order before next year, Emirates

President Tim Clark said. His comments Sunday dispelled speculation of an order during the Dubai Airshow in November. During the last show two years

ago, the airline placed record-breaking orders for 50 A380s, of which it is the largest operator, and 150 777X jets. Emirates is weighing the 787-9 and -10

variants against the A350-900 and -1000. (Bloomberg)

Egypt tourism revenue increases 1.9% in first 8 months: Minister

Tourism revenue in Egypt rose to USD4.5 billion in first 8 months of 2015, compared to the same period last year, Tourism Minister Hisham Zazoa says in

press conference in Cairo. Tourism arrivals increase 4.9% to 6.6 million from a year earlier: (Bloomberg)

Monday, October 05, 2015

Saudi Arabia’s FX reserves continue to deplete

Saudi Arabia’s net foreign assets dropped to the lowest level in more than two years in August, as the world’s largest crude exporter grappled with oil prices

below USD50 a barrel. Net foreign assets held by the central bank fell for a seventh month in a row to USD654.5 billion, the lowest since February 2013.

That compares with USD661 billion in July, the Saudi Arabian Monetary Agency said in its monthly report. The oil rout has pressured Saudi Arabia’s public

finances, pushing the government to search for savings and sell bonds for the first time since 2007. The kingdom’s budget deficit may widen to up to 20%

of GDP this year, according to the IMF. The central bank’s net foreign assets have fallen by a total of USD82.5 billion since peaking at an all-time high of

USD737 billion last August, though the decline began to slow in July. While foreign-exchange reserves could sustain the country for years, analysts have

said that using them to avoid further cost-cutting could put its credit rating at risk. The Saudi government, so far, has been short on specifics on how it will

reduce spending, though planners are said to be considering measures long viewed as off-limits or unnecessary, including phasing out fuel subsidies and

investing in renewable energy. The kingdom has withdrawn as much as USD70 billion from global asset managers as OPEC’s largest oil producer seeks to

plug its budget deficit, according to financial services market intelligence company Insight Discovery. Authorities plan to raise between SAR90-100 billion

(USD24-26.6 billion) in bonds before the end of the year, people familiar with the matter said in August. (Bloomberg)

Saudi Aramco cuts crude pricing to Asia, U.S. amid weak demand

Saudi Arabia cut pricing for November oil sales to Asia and the U.S. as the world’s largest crude exporter seeks to keep its barrels competitive with rival

suppliers amid sluggish demand. Saudi Arabian Oil Co. reduced its official selling price for Medium grade crude to Asia next month to a discount of USD3.20

a barrel below the regional benchmark, compared with a USD1.30 discount for October sales, the company said Sunday in an e-mailed statement. The

discount for the Medium grade to Asia, the main market for Saudi crude, widened by the most since the state-owned company made a USD2 a barrel cut in

February 2012, according to data compiled by Bloomberg.

Saudi Arabia will continue investing in oil production despite low prices, Ali Al-Naimi, the country’s oil minister said in a speech in Istanbul, in comments

reported by state-run Saudi Press Agency Friday. Volatile oil prices affect investments, creating a situation that’s not good for producers or consumers, he

said. Saudi Aramco, as the producer is known, widened the discount for Arab Light crude to Asia by USD1.70 a barrel to USD1.60 a barrel less than the

benchmark, according to the statement. The cut was smaller than the median estimate of a USD1.90 a-barrel reduction expected by seven refiners and

traders in Asiasurveyed by Bloomberg last week. The decrease was the deepest since January. The company trimmed November pricing for its Light,

Medium and Heavy grades to the U.S. by 30 cents a barrel each. Medium crude will sell at a discount of 85 cents a barrel to the regional benchmark, the

widest since March. (Bloomberg)

Page 1


Daily Market Update

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Fed’s Rosengren says 2% growth needed for lift-off

Federal Reserve Bank of Boston President Eric Rosengren said the US economy needs to be growing at a 2% pace in the second half of the year to justify

an interest-rate increase by December. The slower rate of job gains in September and weaker exports validated the Federal Open Market Committee’s

concerns about international growth when it decided not to raise interest rates at its September meeting, Rosengren said. “It looks like that was a pretty

good decision,” Rosengren said in an interview on Saturday at the Boston Fed. “The data that we got from the employment report, and also the data that

we got from the trade sector, has indicated that we are facing some headwinds” from the slowdown in the economies of US trading partners and a stronger

dollar, he said. The Boston Fed chief said the decision to raise interest rates in the final three months of this year will probably hinge on how much slowing

growth abroad is offset by US consumption and gains in housing. The central bank has two more policy meetings in 2015, in October and December. So far,

American consumers are holding up. Household spending climbed more than forecast in August, and car sales in September jumped to the highest in a

decade. Demand for new homes in August was the strongest in seven years. “The question is whether with the incoming data that we start seeing

something weaker than 2% to 2.5%, in which case then I would be less confident” about raising rates this year, Rosengren said. “If we have to tighten

quickly, the probability of making a mistake goes up,” he said. “When you’re moving very quickly, you tend to overshoot and can end up slowing down the

economy much more than if you have a very gradual pace.” Rosengren will be a voting member of the Fed policy panel in 2016. “If we do see 25 to 2.5%

growth in the economy for the second half of the year, that should be sufficient to get some gradual improvement in labor markets,” he said. Rosengren

added that his own estimate of a jobless rate that would be consistent with full employment is 4.8%, below September’s reading of 5.1%. Full employment

is the level of joblessness that would be expected to keep prices rising at the Fed’s 2% goal. Some additional job gains would make him “reasonably

confident” that inflation would pick up over time, he said. (Bloomberg)

ONGC Videsh mandates 4 banks for USD1.78 billion 5 year refinancing

ONGC has mandated BTMU, Citi, Mizuho and SMBC as lead arrangers for a 5 year financing facility. The company has also increased loan size from original

target of USD750 million to USD1.78 billion. The company is refinancing a USD1.78 billion loan from last year which matures February 2019 and pays Libor

+ 165 bps. The information was disclosed by a person familiar with the matter, who is not authorized to speak publicly and asked not to be identified.

(Bloomberg)

Telenor plans to divest entire 33% stake in carrier VimpelCom

Telenor Group will divest its entire 20 billion kroner (USD2.4 billion) stake in VimpelCom Ltd. to focus on its core operations. The company will explore all

options for the divestment of the 33% stake and expects the process to “take some time,” according to a statement Monday.

Telenor is expanding in fast-growing Asian and European markets to benefit from the surging demand for mobile services. VimpelCom, co-owned by

Russian billionaire Mikhail Fridman, is trying to reverse a sales drop caused by currency fluctuations and slowing economies of Russia and Ukraine as well as

regulatory restrictions in markets including Italy. (Bloomberg)

BoE clampdown forces Indian banks to add capital into UK units

Some of India’s biggest banks are being forced to inject hundreds of millions of pounds to capitalize new UK subsidiaries that the Bank of England has asked

them to set up to house their consumer-facing activities. A recent tightening of regulations for foreign banks offering retail services to UK consumers means

that as many as 50 overseas lenders with branches in the country could face similar obligations. The change reflects growing concern at the BoE’s

Prudential Regulation Authority that depositors in the UK could lose out if a foreign lender collapsed and its home regulator prioritized domestic depositors.

State Bank of India, the country’s biggest lender by assets, and Bank of Baroda are among those being forced to overhaul their British structures to comply

with the BoE mandate. More are set to follow as the regulator works its way through a 50-strong list of banks based outside the European Economic Area

that have permission to offer retail banking services through lightly regulated branches. Some of these banks, including many from Asia, the Middle East,

Africa and the Americas, face a tough choice: either exit the UK market or create a more heavily regulated subsidiary. (FT)


Odds for a Fed rate hike drop after a disappointing NFP number

The bond market shows traders see less than a 10% chance the Federal Reserve will raise interest rates at its October 27-28 meeting following weaker-

than-expected employment growth. Treasury benchmark 10-year yields have fallen below 2% as investors pushed back forecasts for the Fed move,

highlighting the lack of consensus over when officials will shift policy. The odds of a Fed rate increase were 8% for October, 34% for the December meeting,

40% for the January session and 55% for the March gathering. The calculation is based on the assumption that the effective fed funds rate will average

0.375% after liftoff, versus the current target range of zero to 0.25%. The yield on the Bloomberg Global Developed Sovereign Bond Index fell below 15

last week to 0.97%, the lowest level since April this year. (Bloomberg)

Page 2


Daily Market Update

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Earnings Update

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Rating Update

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Volkswagen Chief says diesel-emissions scandal poses existential risk

Volkswagen AG’s designated Chairman Hans Dieter Poetsch warned managers that the diesel-emissions scandal could pose “an existence-threatening crisis

for the company,” as it pleaded for public trust with full-page ads in national newspapers. The German carmaker faces a Wednesday deadline to present a

plan to fix some 2.8 million vehicles in its home market. Poetsch told managers last week he was certain the Wolfsburg, Germany-based carmaker will

overcome the crisis with enough effort, according to Welt am Sonntag newspaper. Volkswagen and German industry have been rocked by charges, first

made by US regulators on September 18, that the carmaker had used software to hoodwink regulators about the true emissions of its diesel cars for years.

As owners of 11 million affected cars across the globe, regulators and investors await answers, the crisis has wiped out almost 30 billion euros (USD34

billion) of the company’s value. (Bloomberg)

Portugal’s Ruling Coalition Leads Vote Count With 99 Seats

Ruling coalition of Prime Minister Pedro Passos Coelho wins 37% of vote and 99 of the 230 seats in Portugal’s parliament, with 4 seats still to be attributed,

government says on election website. Opposition Socialists take 32% of vote and 85 seats so far. Portuguese parliament has a total of 230 seats and at

least 116 seats are needed to get a majority. Coalition had 132 seats in parliament before yesterday’s election, and Socialists had 74 seats. (Bloomberg)

Ukraine president says Obama approved sending new weapons

Ukrainian President Petro Poroshenko said Sunday on state television that US President Barack Obama promised his country new models of defensive

weapons amid a cease-fire with pro-Russian separatists. Obama said he approved supplying counter-battery systems to the debt-troubled Ukraine,

Poroshenko said, according to a transcript of the broadcast on his Web page. The weapons will be used to help Ukraine detect artillery and multiple rocket

launch fire, according to a White House official, who requested anonymity to discuss the assistance. President Obama signed a memorandum last week

authorizing an additional USD20 million for “defense articles and services” for Ukrainian forces, a continuation of his administration’s provision of non-lethal

support for Ukraine. (Bloomberg)

National Bank of Oman Q3 net profit rises 6.6%

National Bank of Oman (NBO), the sultanate's third-largest lender by assets, posted a 6.6% rise in third-quarter net profit on Sunday, according to Reuters

calculations. The lender made a net profit of OMR14.93 million (USD38.7 million) in the three months to September 30, up from OMR14 million in the same

period of last year, as per Reuters. The bank did not provide a quarterly breakdown in its earnings statement. NBO reported a net profit for the first nine

months of 2015 of OMR43.0 million, up from OMR 37.1 million in the same period of last year, according to a statement released on Sunday. Loans and

advances stood at OMR 2.54 billion at the end of September, 12% higher year-on-year, but customer deposits fell 11% over the same period to OMR 2.44

billion. (Reuters)

Moody's assigns provisional (P)A1 rating to Oman's proposed sovereign sukuk issuance

Moody's Investors Service, ("Moody's") has today assigned a provisional rating of (P)A1 to the proposed Omani rials certificates to be issued by Oman

Sovereign Sukuk S.A.O.C. ("the Issuer"), a special purpose vehicle incorporated in Oman and wholly owned by the Government of Oman. The payment

obligations associated with these certificates are direct obligations of the Government of Oman. (Bloomberg)


Zambia snubbed by investors as power cuts worsen copper crisis

Investors who preferred Zambia over Spain three years ago because of its copper wealth, low debt and stable political environment, are now dumping the

country’s assets. Its currency, the kwacha, plummeted 48% against the dollar this year, the most of 155 currencies tracked by Bloomberg. While most of

the blame can be pinned on the plunging price of copper, which accounts for more than 70% of Zambia’s exports, analysts also point to policy mistakes by

the government - allegedly mismanaging a key hydropower facility that’s led to the worst electricity crisis on record, issuing contradictory statements on

mining taxes and foreign-currency controls and running up debt. Glencore Plc and other mine operators, which flocked to Zambia when commodity markets

were booming, are now mothballing shafts and laying off thousands of workers. Output has been further hobbled by restricted supply at Zambia’s two main

hydropower plants due to water shortages, leading to rotating blackouts lasting as long as 14 hours a day. Investor sentiment in the mining industry had

already turned sour last year amid tax disputes. Mining companies, including First Quantum Minerals Ltd., suspended more than USD1.5 billion in

investments after the government withheld tax refunds and contemplated higher royalties. The Chamber of Mines has warned that copper production may

drop for a second consecutive year in 2015. After expanding on average 7% annually over the past five years, the economy is set to grow 3.4% in 2015,

which would be the slowest pace in 17 years, according to Barclays Plc. Yields on Zambia’s USD1.25 billion of Eurobonds due in 2027 have surged 313 basis

points since the debt was sold in July to 12.687% on October 2. Zambia sold its debut international bond in 2012 at a yield of 5.625%, lower than that of

Spain at the time. (Bloomberg)

Page 3


Daily Market Update

Libor Euribor Eibor

Price Yield Price % Yield Net Last 1d Chg Last 1d Chg Last 1d Chg

Last Last 1d Chg 1d Chg (bp) 1-Month 0.195 0.001 -0.113 0.000 0.560 0.000

2 Year 100.102 0.575 0.016 -0.601 3-Month 0.327 0.003 -0.044 -0.001 0.827 0.003

5- Year 100.422 1.288 0.043 -0.814 6-Month 0.535 0.004 0.026 -0.001 0.957 0.003

10-Year 100.094 1.990 0.039 -0.351 12-Month 0.852 0.005 0.139 -0.001 1.180 0.007

30-Year 100.953 2.828 0.015 -0.039 Source: Bloomberg

2 Year 100.523 -0.268 -0.002 0.090

5- Year 101.495 -0.047 -0.034 0.673 USD EUR AED

10-Year 104.585 0.521 -0.117 1.238 Last 1d Chg Last 1d Chg Last 1d Chg

30-Year 131.650 1.256 -0.509 2.220 2-Year 0.705 -0.001 0.035 -0.002 1.510 -0.011

5-Year 1.342 -0.007 0.317 -0.001 2.340 -0.010

10-Year 1.978 -0.003 0.904 0.006 3.580 0.000

2 Year 100.835 0.562 -0.050 2.541 30-Year 2.508 -0.001 1.454 0.006 N/A N/A

5- Year 103.938 1.153 -0.132 -0.814 Source: Bloomberg

10-Year 102.460 1.729 -0.256 -0.351

30-Year 121.930 2.447 -0.537 -0.039

Source: Bloomberg

Last Change

YTD (%)

S&P 500 1,951.36 -5.22

Change Change Dow Jones Industrial Avg 16,472.37 -7.58

Spread Day YTD Nasdaq 4,707.78 -0.60

iTraxx Europe 91.931 0.000 29.069 Nikkei 18,005.49 3.18

iTraxx Europe Crossover 377.684 0.000 32.070 Shanghai 3,052.78 -5.62

CDX North America IG 93.874 0.000 27.754 Indian BSE 26,220.95 -5.98

CDX North America HY 496.477 0.000 139.523 Eurostoxx 3,088.18 -1.63

iTraxx SovX Western Europe 21.205 0.000 -6.075 DFM General Index 3,620.40 -4.07

iTraxx SovX CEEMEA 277.910 0.000 -37.510 ADX General Index 4,541.01 0.27

iTraxx Europe Senior Financial 96.192 3.000 28.756 Qatar Exchange Index 11,533.80 -6.12

iTraxx Europe Sub Financial 193.316 0.000 44.450 TASI 7,370.67 -11.55

Source: Bloomberg Source: Bloomberg

Change Change Last Change Change

bps Spread Day YTD Day YTD (%)

Emirate of Abu Dhabi 5Y 77.000 0.000 15.000 Spot Gold 1,134.70 -4.19

Emirate of Dubai 5Y 200.000 -3.000 -30.000 Spot Silver 15.22 -3.16

Kingdom of Bahrain 5Y 320.000 0.000 65.000 WTI Crude 45.87 -13.89

State of Qatar CDS 5Y 64.438 0.000 -1.790 Brent Crude 48.48 -15.44

Kingdom of Saudi Arabia 5Y 130.000 5.000 65.000 Nymex Nat Gas 2.46 -14.71

Lebanese Republic 5Y 410.000 0.000 15.000 LME Copper 5,100.00 -19.05

Republic of Turkey 5Y 306.500 -8.000 126.500 Source: Bloomberg

Arab Republic of Egypt 5Y 340.000 0.000 60.000

Source: Bloomberg

Last (NAV) Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.51138 0.10% 2.43%

Makaseb Income Fund 12.96219 0.12% 1.56%

Makaseb Arab Tigers Fund 13.62206 -0.43% -20.57%

Source: Bloomberg

MUTUAL FUNDS

-3.90

-0.04

0.33

0.35

0.01

5.00

26.27

23.49

19.68

28.73

CDS COMMODITIES

bps 80.69

280.36

14.64

66.12

19.13

EQUITY

Change

KEY CDS INDICES Day

27.54

200.36

KEY GOVERNMENT BONDS INTERBANK RATES

US TREASURIES

GERMAN BUNDS SWAPS

UK GILTS


Page 4

Fixed Income Trading

October 5, 2015 USD INVESTMENT GRADE ISSUES (LONG TERM)

Security Name ISIN Code MaturityOutstanding

Amount (Mio)

Coupon

TypeCoupon % Indic. Bid

Indic.

Offer

Offer Yield

%

Credit Rating

S&P/Moody/FitchCountry Payment Rank

ABBVIE INC US00287YAL39 6-Nov-2022 3071 FIXED 2.90 98.14 98.14 3.20 A/Baa1/- UNITED STATES Sr Unsecured

ABBVIE INC US00287YAQ26 14-May-2025 3750 FIXED 3.60 99.23 99.23 3.70 A/Baa1/- UNITED STATES Sr Unsecured

AIRBUS GROUP FINANCE BV USN2823BBD21 17-Apr-2023 1000 FIXED 2.70 99.25 99.25 2.81 A/A2/A- FRANCE Sr Unsecured

AMAZON.COM INC US023135AJ58 29-Nov-2022 1250 FIXED 2.50 97.57 97.57 2.88 AA-/Baa1/- UNITED STATES Sr Unsecured

AMERICAN EXPRESS CO US025816BD05 2-Dec-2022 1266 FIXED 2.65 98.03 98.03 2.96 BBB+/A3/A+ UNITED STATES Sr Unsecured

ANGLO AMERICAN CAPITAL USG0446NAG90 15-Apr-2021 500 FIXED 4.13 87.01 87.01 7.00 BBB-/Baa2/- UNITED KINGDOM Sr Unsecured

ANGLO AMERICAN CAPITAL USG03762CH52 27-Sep-2022 600 FIXED 4.13 82.00 82.00 7.49 BBB-/Baa2/BBB UNITED KINGDOM Sr Unsecured

APPLE INC US037833BG48 13-May-2025 2000 FIXED 3.20 101.41 101.41 3.03 AA+/Aa1/- UNITED STATES Sr Unsecured

AT&T INC US00206RCM25 30-Jun-2022 2750 FIXED 3.00 99.24 99.24 3.13 BBB+/Baa1/A- UNITED STATES Sr Unsecured

AT&T INC US00206RCN08 15-May-2025 5000 FIXED 3.40 97.64 97.64 3.69 BBB+/Baa1/A- UNITED STATES Sr Unsecured

BANK OF AMERICA CORP US06051GEU94 11-Jan-2023 4250 FIXED 3.30 101.91 101.91 3.00 A-/Baa1/A UNITED STATES Sr Unsecured

BANK OF AMERICA CORP US06051GFP90 21-Apr-2025 2500 FIXED 3.95 97.87 97.87 4.22 BBB+/Baa3/A- UNITED STATES Subordinated

BARCLAYS PLC US06738EAE59 16-Mar-2025 2000 FIXED 3.65 95.48 95.48 4.24 BBB/Baa3/A UNITED KINGDOM Sr Unsecured

BARCLAYS PLC US06738EAC93 11-Sep-2024 1250 FIXED 4.38 97.19 97.19 4.76 BB+/Baa3/A- UNITED KINGDOM Subordinated

BARRICK GOLD CORP US067901AQ17 1-May-2023 1498 FIXED 4.10 88.55 88.55 6.01 BBB-/Baa3/- CANADA Sr Unsecured

BHP BILLITON FIN USA LTD US055451AQ16 24-Feb-2022 1000 FIXED 2.88 97.73 98.76 3.09 A+/A1/A+ AUSTRALIA Sr Unsecured

BOSTON PROPERTIES LP US10112RAV69 1-Sep-2023 500 FIXED 3.13 98.57 98.57 3.33 A-/Baa2/BBB+ UNITED STATES Sr Unsecured

BP CAPITAL MARKETS PLC US05565QCD88 10-May-2023 1500 FIXED 2.75 96.71 96.71 3.24 A/A2/- UNITED KINGDOM Sr Unsecured

BP CAPITAL MARKETS PLC US05565QDA31 17-Mar-2025 1000 FIXED 3.51 100.69 100.69 3.42 A/A2/- UNITED KINGDOM Sr Unsecured

BPCE SA US05578UAD63 15-Mar-2025 1250 FIXED 4.50 96.19 96.19 5.01 -/Baa3/A- FRANCE Subordinated

CITIGROUP INC US172967GT25 15-May-2023 1250 FIXED 3.50 97.91 97.91 3.82 BBB+/Baa3/A- UNITED STATES Subordinated

CITIGROUP INC US172967JP75 27-Apr-2025 1500 FIXED 3.30 98.18 98.18 3.53 A-/Baa1/A UNITED STATES Sr Unsecured

CITIGROUP INC US172967JL61 26-Mar-2025 1000 FIXED 3.88 98.15 98.15 4.11 BBB+/Baa3/A- UNITED STATES Subordinated

CONOCOPHILLIPS COMPANY US20826FAA49 15-Dec-2022 1000 FIXED 2.40 95.54 95.54 3.10 A/A2/A UNITED STATES Sr Unsecured

CONOCOPHILLIPS COMPANY US20826FAD87 15-Nov-2024 1000 FIXED 3.35 98.51 98.51 3.54 A/A2/A UNITED STATES Sr Unsecured

CRED SUIS GP FUN LTD USG25417AA79 26-Mar-2025 2500 FIXED 3.75 97.49 97.49 4.07 BBB+/Baa2/A SWITZERLAND Sr Unsecured

CREDIT AGRICOLE SA USF2R125AC99 17-Mar-2025 1500 FIXED 4.38 95.91 95.91 4.92 BBB/Baa3/A- FRANCE Subordinated

DOW CHEMICAL CO/THE US260543CJ01 1-Oct-2024 900 FIXED 3.50 96.45 96.45 3.97 BBB/Baa2/BBB UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397XA68 9-Jan-2022 750 FIXED 3.22 98.84 98.84 3.43 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397WW97 8-Sep-2024 750 FIXED 3.66 97.62 97.62 3.98 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FREEPORT-MCMORAN INC US35671DAU90 1-Mar-2022 2000 FIXED 3.55 74.10 74.10 8.96 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

FREEPORT-MCMORAN OIL&GAS US726505AP50 15-Feb-2023 778 FIXED 6.88 88.06 88.06 9.14 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAW65 10-Apr-2022 1250 FIXED 3.45 95.89 95.89 4.18 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAS53 15-Jan-2025 1000 FIXED 4.00 94.80 94.80 4.70 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured

GLENCORE FINANCE CANADA USC98874AM93 25-Oct-2022 1000 FIXED 4.25 80.50 80.50 7.91 BBB/Baa2/- SWITZERLAND Sr Unsecured

=> All Conditions are Indicative and subject ot market changes and liquidity constrains Page 16


October 5, 2015 USD INVESTMENT GRADE ISSUES (LONG TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


GLENCORE FUNDING LLC XS1028955844 29-Apr-2024 1000 FIXED 4.63 80.70 80.70 7.75 BBB/Baa2/- SWITZERLAND Sr Unsecured

GLENCORE FUNDING LLC XS0938722666 30-May-2023 1500 FIXED 4.13 81.37 81.37 7.35 BBB/Baa2/- SWITZERLAND Sr Unsecured


GOLDCORP INC US380956AD47 15-Mar-2023 1000 FIXED 3.70 93.44 93.44 4.76 BBB+/Baa2/BBB CANADA Sr Unsecured

GOLDMAN SACHS GROUP INC US38148LAC00 23-Jan-2025 2500 FIXED 3.50 100.26 100.26 3.47 A-/A3/A UNITED STATES Sr Unsecured

JPMORGAN CHASE & CO US46625HKC33 23-Jan-2025 2500 FIXED 3.13 97.07 97.07 3.50 A/A3/A+ UNITED STATES Sr Unsecured

JPMORGAN CHASE & CO US46625HJY71 10-Sep-2024 3000 FIXED 3.88 99.27 99.27 3.97 A-/Baa1/A UNITED STATES Subordinated

LLOYDS BANK PLC US53944VAH24 14-May-2025 1250 FIXED 3.50 100.35 100.35 3.46 A/A1/A+ UNITED KINGDOM Sr Unsecured

LOCKHEED MARTIN CORP US539830BE89 1-Mar-2025 750 FIXED 2.90 97.69 97.69 3.19 A- /*-/Baa1/A- /*- UNITED STATES Sr Unsecured

MARATHON OIL CORP US565849AK29 1-Nov-2022 1000 FIXED 2.80 91.23 91.23 4.25 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured

MARATHON OIL CORP US565849AL02 1-Jun-2025 900 FIXED 3.85 88.50 88.50 5.39 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured

MARATHON PETROLEUM CORP US56585AAG76 15-Sep-2024 750 FIXED 3.63 97.01 97.01 4.03 BBB/Baa2/BBB UNITED STATES Sr Unsecured

MCDONALD'S CORP US58013MEU45 26-May-2025 700 FIXED 3.38 100.20 100.20 3.35 A-/A3/BBB+ UNITED STATES Sr Unsecured

MERCK & CO INC US58933YAR62 10-Feb-2025 2500 FIXED 2.75 99.46 99.46 2.82 AA/A2/A UNITED STATES Sr Unsecured

MONSANTO CO US61166WAU53 15-Jul-2024 750 FIXED 3.38 97.91 97.91 3.66 BBB+/A3/A- UNITED STATES Sr Unsecured

MOTOROLA SOLUTIONS INC US620076BB42 15-May-2022 750 FIXED 3.75 93.88 93.88 4.84 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

OCCIDENTAL PETROLEUM COR US674599CG82 15-Jun-2025 750 FIXED 3.50 100.54 100.54 3.43 A/A2/A UNITED STATES Sr Unsecured

OCEANEERING INTL INC US675232AA07 15-Nov-2024 500 FIXED 4.65 95.26 95.26 5.31 BBB/Baa2/- UNITED STATES Sr Unsecured

RABOBANK NEDERLAND NY US21688AAE29 21-May-2025 1000 FIXED 3.38 99.09 99.09 3.49 A+/Aa2/AA- NETHERLANDS Sr Unsecured

RIO TINTO FIN USA LTD US767201AS58 15-Jun-2025 1200 FIXED 3.75 97.42 98.88 3.89 A-/A3/- UNITED KINGDOM Sr Unsecured

RIO TINTO FIN USA PLC US76720AAF30 21-Aug-2022 1000 FIXED 2.88 95.72 95.72 3.58 A-/A3/A- UNITED KINGDOM Sr Unsecured

SHELL INTERNATIONAL FIN US822582BD31 11-May-2025 2750 FIXED 3.25 99.60 99.60 3.30 AA-/Aa1/- NETHERLANDS Sr Unsecured

SIEMENS FINANCIERINGSMAT USN82008AE85 27-May-2025 1500 FIXED 3.25 99.70 99.70 3.29 A+/A1/A GERMANY Sr Unsecured

SOCIETE GENERALE USF8586CH211 14-Apr-2025 1500 FIXED 4.25 97.60 97.60 4.56 BBB/Baa3/A- FRANCE Subordinated

STANDARD CHARTERED PLC XS1219971774 17-Apr-2025 750 FIXED 3.20 92.95 92.95 4.10 A-/Aa3/AA- UNITED KINGDOM Sr Unsecured

STATOIL ASA US85771PAG72 17-Jan-2023 1100 FIXED 2.45 96.69 96.69 2.96 AA-/Aa2/- NORWAY Sr Unsecured

TIME WARNER INC US887317AW59 15-Jul-2025 1500 FIXED 3.60 100.98 100.98 3.48 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured

TOTAL CAPITAL CANADA LTD US89153UAF84 15-Jul-2023 1000 FIXED 2.75 97.01 97.01 3.19 AA-/Aa1/AA- FRANCE Sr Unsecured

VALERO ENERGY CORP US91913YAS90 15-Mar-2025 600 FIXED 3.65 96.23 96.23 4.14 BBB/Baa2/BBB UNITED STATES Sr Unsecured

VERIZON COMMUNICATIONS US92343VCR33 1-Nov-2024 2500 FIXED 3.50 99.06 99.06 3.62 BBB+/Baa1/A- UNITED STATES Sr Unsecured

VIACOM INC US92553PAT93 1-Sep-2023 1250 FIXED 4.25 98.79 98.79 4.43 BBB/Baa2/BBB+ UNITED STATES Sr Unsecured

VODAFONE GROUP PLC US92857WAZ32 26-Sep-2022 1000 FIXED 2.50 93.48 93.48 3.56 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured

WELLS FARGO & COMPANY US94974BGH78 19-Feb-2025 2500 FIXED 3.00 97.16 97.16 3.36 A+/A2/AA- UNITED STATES Sr Unsecured



October 5, 2015 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ABBEY NATL TREASURY SERV US002799AT16 16-Mar-2020 1000 FIXED 2.38 100.76 100.76 2.19 A/A1/A UNITED KINGDOM Sr Unsecured

ABBVIE INC US00287YAT64 14-May-2020 3750 FIXED 2.50 99.49 99.49 2.62 A/Baa1/- UNITED STATES Sr Unsecured

ABN AMRO BANK NV XS1241945473 4-Jun-2020 1000 FIXED 2.45 100.82 101.31 2.15 A/A2/A NETHERLANDS Sr Unsecured

AMERICAN EXPRESS CREDIT US0258M0DT32 26-May-2020 1750 FIXED 2.38 100.50 100.50 2.26 A-/A2/A+ UNITED STATES Sr Unsecured

ANGLO AMERICAN CAPITAL USG0446NAH73 14-May-2020 850 FIXED 3.63 89.00 89.00 6.42 BBB-/Baa2/- UNITED KINGDOM Sr Unsecured

APPLE INC US037833BD17 6-May-2020 1250 FIXED 2.00 100.77 100.77 1.82 AA+/Aa1/- UNITED STATES Sr Unsecured

ASTRAZENECA PLC US046353AF58 18-Sep-2019 1000 FIXED 1.95 100.90 100.90 1.71 A+/A2/A+ UNITED KINGDOM Sr Unsecured

AT&T INC US00206RCL42 30-Jun-2020 3000 FIXED 2.45 98.94 98.94 2.69 BBB+/Baa1/A- UNITED STATES Sr Unsecured

BANK OF AMERICA CORP US06051GFN43 21-Apr-2020 2000 FIXED 2.25 99.98 99.98 2.25 A-/Baa1/A UNITED STATES Sr Unsecured

BANK OF AMERICA NA US06050TMC35 5-Jun-2018 1750 FIXED 1.75 100.21 100.21 1.67 A/A1/A+ UNITED STATES Sr Unsecured

BANK OF NY MELLON CORP US06406HCZ01 24-Feb-2020 1250 FIXED 2.15 100.57 100.57 2.01 A+/A1/AA- UNITED STATES Sr Unsecured

BARCLAYS PLC US06738EAG08 8-Jun-2020 1000 FIXED 2.88 100.66 100.66 2.72 BBB/Baa3/A UNITED KINGDOM Sr Unsecured

BNP PARIBAS US05579TED46 21-May-2020 1500 FIXED 2.38 100.89 100.89 2.17 A+/A1/A+ FRANCE Sr Unsecured

BP CAPITAL MARKETS PLC US05565QCX43 13-Feb-2020 1250 FIXED 2.32 100.86 100.86 2.11 A/A2/- UNITED KINGDOM Sr Unsecured

BPCE SA US05578DAR35 27-Jan-2020 750 FIXED 2.25 100.18 100.18 2.20 A/A2/A FRANCE Sr Unsecured

CATERPILLAR FINANCIAL SE US14912L6J50 5-Mar-2020 500 FIXED 2.00 99.37 99.37 2.15 A/A2/A UNITED STATES Sr Unsecured

CHEVRON CORP US166764AR12 3-Mar-2020 1750 FIXED 1.96 100.12 100.12 1.93 AA/Aa1/- UNITED STATES Sr Unsecured

CITIGROUP INC US172967JN28 27-Apr-2018 2500 FIXED 1.70 99.72 99.72 1.81 A-/Baa1/A UNITED STATES Sr Unsecured

CONOCOPHILLIPS COMPANY US20826FAJ57 15-May-2020 500 FIXED 2.20 100.50 100.50 2.08 A/A2/A UNITED STATES Sr Unsecured

CRED SUIS GP FUN LTD USG25417AB52 26-Mar-2020 1500 FIXED 2.75 99.65 99.65 2.83 BBB+/Baa2/A SWITZERLAND Sr Unsecured

CREDIT SUISSE NEW YORK US22546QAV95 27-Apr-2018 2750 FIXED 1.70 99.97 99.97 1.71 A/A1/A SWITZERLAND Sr Unsecured

DAIMLER FINANCE NA LLC USU2339CCA46 3-Aug-2018 1000 FIXED 2.00 98.68 98.68 2.49 A-/A3/A- GERMANY Sr Unsecured

DAIMLER FINANCE NA LLC USU2339CAZ15 31-Jul-2019 750 FIXED 2.25 98.62 98.62 2.63 A-/A3/A- GERMANY Sr Unsecured

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

DEUTSCHE BANK AG LONDON US25152RYD96 13-Feb-2018 2000 FIXED 1.88 100.05 100.05 1.85 BBB+/A3/A GERMANY Sr Unsecured

EXXON MOBIL CORPORATION US30231GAG73 6-Mar-2020 1500 FIXED 1.91 101.38 101.38 1.58 AAA/Aaa/- UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397XH12 15-Jun-2018 1000 FIXED 2.24 100.00 100.00 2.24 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FORD MOTOR CREDIT CO LLC US345397WY53 4-Nov-2019 1250 FIXED 2.60 94.77 94.77 4.00 BBB-/Baa3/BBB- UNITED STATES Sr Unsecured

FREEPORT-MCMORAN INC US35671DBD66 15-Mar-2018 1500 FIXED 2.38 88.14 88.14 7.81 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

FREEPORT-MCMORAN INC US35671DBG97 15-Mar-2020 998 FIXED 3.10 82.00 82.00 8.00 BBB-/Baa3/BBB UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAV82 10-Apr-2018 850 FIXED 2.40 99.69 99.69 2.53 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured

GENERAL MOTORS FINL CO US37045XAY22 13-Jul-2020 1500 FIXED 3.20 100.00 100.00 3.20 BBB-/Ba1/BBB- UNITED STATES Sr Unsecured


GLENCORE FUNDING LLC XS0938722401 15-Jan-2019 1500 FIXED 2.50 83.00 83.00 8.56 BBB/Baa2/- SWITZERLAND Sr Unsecured




October 5, 2015 USD INVESTMENT GRADE ISSUES (SHORT TERM TERM)


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


GOLDCORP INC US380956AC63 15-Mar-2018 500 FIXED 2.13 98.66 98.66 2.70 BBB+/Baa2/BBB CANADA Sr Unsecured

GOLDMAN SACHS GROUP INC US38148LAA44 23-Apr-2020 1700 FIXED 2.60 100.74 100.74 2.42 A-/A3/A UNITED STATES Sr Unsecured

HSBC USA INC US40434CAC91 23-Jun-2019 750 FIXED 2.25 99.34 99.34 2.44 A/A2/AA- UNITED STATES Sr Unsecured

HSBC USA INC US40428HPR74 5-Mar-2020 1750 FIXED 2.35 98.85 98.85 2.63 A/A2/AA- UNITED STATES Sr Unsecured

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

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

IMPERIAL TOBACCO FINANCE USG4721VNS99 21-Jul-2020 1250 FIXED 2.95 100.36 100.36 2.87 BBB/Baa3/- UNITED KINGDOM Sr Unsecured

JPMORGAN CHASE & CO US48127HAA77 22-Oct-2019 2000 FIXED 2.20 100.56 100.56 2.06 A/A3/A+ UNITED STATES Sr Unsecured

JPMORGAN CHASE & CO US46625HKA76 23-Jan-2020 3750 FIXED 2.25 99.75 99.75 2.31 A/A3/A+ UNITED STATES Sr Unsecured

LLOYDS BANK PLC US53944VAE92 17-Mar-2020 1000 FIXED 2.40 100.36 100.36 2.32 A/A1/A+ UNITED KINGDOM Sr Unsecured

MACQUARIE BANK LTD US55608RAM25 21-Jan-2020 750 FIXED 2.40 100.03 100.46 2.29 A/A2/A AUSTRALIA Sr Unsecured

MARATHON OIL CORP US565849AN67 1-Jun-2020 600 FIXED 2.70 97.21 97.21 3.35 BBB/Baa1/BBB+ UNITED STATES Sr Unsecured

MCDONALD'S CORP US58013MET71 26-May-2020 700 FIXED 2.20 99.79 99.79 2.25 A-/A3/BBB+ UNITED STATES Sr Unsecured

MERCK & CO INC US58933YAS46 10-Feb-2020 1250 FIXED 1.85 100.39 100.39 1.76 AA/A2/A UNITED STATES Sr Unsecured

MONSANTO CO US61166WAS08 15-Jul-2019 500 FIXED 2.13 100.48 100.48 1.99 BBB+/A3/A- UNITED STATES Sr Unsecured

MUFG AMERICAS HLDGS CORP US553794AB47 10-Feb-2020 1000 FIXED 2.25 99.93 99.93 2.27 A/A3/A UNITED STATES Sr Unsecured

MUFG UNION BANK NA US90520EAF88 6-May-2019 500 FIXED 2.25 100.44 100.44 2.12 A+/A2/A UNITED STATES Sr Unsecured

PEPSICO INC US713448CS53 30-Apr-2020 750 FIXED 1.85 100.43 100.43 1.75 A/A1/A UNITED STATES Sr Unsecured

RABOBANK NEDERLAND NY US21688AAD46 14-Jan-2020 1000 FIXED 2.25 100.03 100.03 2.24 A+/Aa2/- NETHERLANDS Sr Unsecured

ROYAL BANK OF CANADA US780082AA14 5-Feb-2020 2000 FIXED 1.88 100.37 100.37 1.79 -/Aaa/AAA CANADA Secured

SANTANDER BANK NA US80280JDB44 12-Jan-2018 750 FIXED 2.00 99.48 99.48 2.24 BBB/Baa2/- UNITED STATES Sr Unsecured

SANTANDER HOLDINGS USA US80282KAD81 17-Apr-2020 1000 FIXED 2.65 98.30 98.30 3.06 BBB/Baa2/- UNITED STATES Sr Unsecured

SHELL INTERNATIONAL FIN US822582BG61 11-May-2020 2000 FIXED 2.13 100.63 100.63 1.98 AA-/Aa1/- NETHERLANDS Sr Unsecured

SIEMENS FINANCIERINGSMAT DE000A1G0WD5 16-Aug-2019 1500 FIXED 1.65 98.71 99.39 1.81 A+/A1/A GERMANY Sr Unsecured

SIEMENS FINANCIERINGSMAT USN82008AC20 27-May-2020 1000 FIXED 2.15 100.22 100.22 2.10 A+/A1/A GERMANY Sr Unsecured

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

UBS AG STAMFORD CT US90261XHK19 26-Mar-2020 1500 FIXED 2.35 100.13 100.13 2.32 A/A2/A SWITZERLAND Sr Unsecured

VODAFONE GROUP PLC US92857WBE93 19-Feb-2018 1400 FIXED 1.50 99.33 99.33 1.79 BBB+/Baa1/BBB+ UNITED KINGDOM Sr Unsecured

VOLKSWAGEN GROUP AMERICA USU9273AAM72 22-May-2020 750 FIXED 2.40 93.70 93.70 3.90 A /*-/A2/- GERMANY Sr Unsecured

WELLS FARGO & COMPANY US94974BFU98 22-Apr-2019 1750 FIXED 2.13 101.15 101.15 1.79 A+/A2/AA- UNITED STATES Sr Unsecured

WELLS FARGO & COMPANY US94974BGF13 30-Jan-2020 2000 FIXED 2.15 100.24 100.24 2.09 A+/A2/AA- UNITED STATES Sr Unsecured



October 5, 2015 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ABU DHABI NATIONAL ENERG XS0863523972 12-Jan-2018 750 FIXED 2.50 100.50 100.50 2.27 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured

ABU DHABI NATIONAL ENERG XS0863524277 12-Jan-2023 1250 FIXED 3.63 98.17 98.17 3.92 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured

ABU DHABI NATIONAL ENERG XS1017435352 6-May-2024 750 FIXED 3.88 98.50 99.25 3.98 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS0897453907 6-Mar-2018 750 FIXED 2.50 100.61 101.16 2.01 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS1040257062 4-Mar-2019 750 FIXED 3.00 101.65 101.65 2.49 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS1110651012 16-Sep-2019 600 FIXED 2.75 100.42 101.00 2.48 A/NR/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS1199968998 10-Mar-2020 750 FIXED 2.63 100.31 100.31 2.55 A/-/A+ UNITED ARAB EMIRATES Sr Unsecured

ADCB FINANCE CAYMAN LTD XS0897453493 6-Mar-2023 750 FIXED 4.50 101.25 101.25 4.30 A-/NR/A UNITED ARAB EMIRATES Subordinated

ADCB FINANCE CAYMAN LTD XS0937539921 28-May-2023 300 VARIABLE 3.13 100.01 100.01 3.12 A-/NR/A UNITED ARAB EMIRATES Subordinated

BANK MUSCAT SAOG XS0908549685 26-Mar-2018 500 FIXED 2.50 99.82 100.49 2.29 A-/A1/BBB+ OMAN Sr Unsecured

BATELCO INT FIN NO 1 LTD XS0927183441 1-May-2020 519 FIXED 4.25 96.97 96.97 5.00 BB+/-/BBB- BAHRAIN Sr Unsecured

BOS FUNDING LTD XS1117297272 8-Jun-2020 500 FIXED 3.37 97.39 98.03 3.84 -/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured

CBQ FINANCE LTD XS0771860003 11-Apr-2017 500 FIXED 3.38 102.53 103.00 1.36 A-/A1/- QATAR Sr Unsecured

CBQ FINANCE LTD XS1079720212 24-Jun-2019 750 FIXED 2.88 101.72 102.32 2.22 A-/A1/- QATAR Sr Unsecured

COMMERCIAL BANK OF DUBAI XS0933999863 21-May-2018 500 FIXED 3.38 101.23 101.93 2.61 -/Baa1/A- UNITED ARAB EMIRATES Sr Unsecured

DEWA SUKUK 2013 LTD XS0897680558 5-Mar-2018 1000 FIXED 3.00 102.31 102.88 1.77 BBB/-/- UNITED ARAB EMIRATES Sr Unsecured

DIB SUKUK LTD XS1241110300 3-Jun-2020 750 FIXED 2.92 99.86 100.50 2.80 -/Baa1/A UNITED ARAB EMIRATES Sr Unsecured

DIFC SUKUK XS1120403313 12-Nov-2024 700 FIXED 4.33 100.15 100.78 4.22 BBB-/-/- UNITED ARAB EMIRATES Sr Unsecured

DP WORLD LTD XS1234270921 18-May-2020 500 FIXED 3.25 99.96 100.61 3.11 -/Baa3/BBB- UNITED ARAB EMIRATES Sr Unsecured

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

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

EMIRATES NBD PJSC XS0765257141 28-Mar-2017 1000 FIXED 4.63 103.50 103.50 2.20 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS0632908314 31-May-2018 332 FLOATING 1.83 99.52 100.63 1.59 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS1138457590 19-Nov-2019 1000 FIXED 3.25 101.25 101.90 2.76 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES NBD PJSC XS1227814883 6-May-2020 350 FIXED 3.00 100.28 100.88 2.79 -/Baa1/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES TELECOM CORP XS1077881743 18-Jun-2019 900 FIXED 2.38 100.25 100.25 2.30 AA-/Aa3/A+ UNITED ARAB EMIRATES Sr Unsecured

EMIRATES TELECOM CORP XS1077883012 18-Jun-2024 500 FIXED 3.50 101.88 101.88 3.25 AA-/Aa3/A+ UNITED ARAB EMIRATES Sr Unsecured

FGB SUKUK COMPANY LTD XS0731930797 18-Jan-2017 500 FIXED 4.05 102.85 103.43 1.33 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

FIRST GULF BANK XS0840538994 9-Oct-2017 650 FIXED 2.86 101.72 102.28 1.70 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

FIRST GULF BANK XS0992167865 14-Jan-2019 500 FIXED 3.25 102.66 103.22 2.22 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

FIRST GULF BANK XS1193304596 24-Feb-2020 750 FIXED 2.63 99.98 100.57 2.49 -/A2/A+ UNITED ARAB EMIRATES Sr Unsecured

HSBC BNK MIDDLE EAST LTD XS1114125534 1-Oct-2019 400 FIXED 2.75 100.86 101.51 2.35 -/A2/AA- UNITED ARAB EMIRATES Sr Unsecured

ICD FUNDING LTD XS1069870415 21-May-2024 300 FIXED 4.63 99.03 99.84 4.65 -/-/- UNITED ARAB EMIRATES Sr Unsecured

ICD SUKUK CO LTD XS1069869839 21-May-2020 700 FIXED 3.51 99.30 100.01 3.50 -/-/- UNITED ARAB EMIRATES Sr Unsecured

KINGDOM OF BAHRAIN XS1110833123 19-Sep-2044 1250 FIXED 6.00 85.27 86.43 7.11 BBB-/-/BBB- BAHRAIN Unsecured



October 5, 2015 USD GCC ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


MAF GLOBAL SECURITIES XS1064799841 7-May-2024 500 FIXED 4.75 102.25 102.25 4.43 BBB/-/BBB UNITED ARAB EMIRATES Sr Unsecured

MASHREQBANK PSC XS0283928264 24-Jan-2017 354 FLOATING 1.42 97.08 98.50 2.62 BBB/Ba2/A- UNITED ARAB EMIRATES Subordinated

MDC-GMTN B.V. XS1062852253 28-Apr-2022 750 FIXED 3.25 102.18 102.18 2.88 AA/Aa2/AA UNITED ARAB EMIRATES Sr Unsecured

MUBADALA GE CAPITAL LTD XS1198082437 10-Nov-2019 500 FIXED 3.00 99.27 100.07 2.98 -/Baa2/A UNITED ARAB EMIRATES Sr Unsecured

MUMTALAKAT SUKUK HOLDING XS1143085014 25-Nov-2021 600 FIXED 4.00 98.79 99.55 4.08 BBB-/-/BBB- BAHRAIN Sr Unsecured

NATIONAL BANK OF OMAN XS1117537172 7-Oct-2019 500 FIXED 3.13 101.51 102.26 2.53 -/A3/- OMAN Sr Unsecured

NATIONAL BK OF ABU DHABI XS0763531406 27-Mar-2017 750 FIXED 3.25 102.37 102.93 1.24 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured

NATIONAL BK OF ABU DHABI XS0815939656 13-Aug-2019 750 FIXED 3.00 102.59 103.19 2.13 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured

NATIONAL BK OF ABU DHABI XS1186986904 11-Feb-2020 750 FIXED 2.25 99.46 100.16 2.21 AA-/Aa3/AA- UNITED ARAB EMIRATES Sr Unsecured

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

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

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

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 102.72 103.26 1.97 A-/A2/A+ QATAR Sr Unsecured

QNB FINANCE LTD XS0748305017 22-Feb-2017 1000 FIXED 3.38 103.00 103.00 1.17 A+/Aa3/AA- QATAR Sr Unsecured

QNB FINANCE LTD XS0854469599 14-Feb-2018 1000 FIXED 2.13 100.50 100.50 1.91 A+/Aa3/AA- QATAR Sr Unsecured

QNB FINANCE LTD XS0987063566 31-Oct-2018 750 FIXED 2.75 101.71 102.24 1.99 A+/Aa3/AA- QATAR Sr Unsecured

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

RAK CAPITAL XS0981184541 21-Oct-2018 500 FIXED 3.30 103.34 104.02 1.93 A/-/A UNITED ARAB EMIRATES Sr Unsecured

RAKFUNDING CAYMAN LTD XS1078355986 24-Jun-2019 800 FIXED 3.25 100.23 100.83 3.01 -/Baa1/BBB+ UNITED ARAB EMIRATES Sr Unsecured

SABIC CAPITAL II BV XS0971431613 3-Oct-2018 1000 FIXED 2.63 100.73 101.41 2.14 A+/A1/A+ SAUDI ARABIA Sr Unsecured

SAUDI ELECTRICITY GLOBAL XS0764883806 3-Apr-2017 500 FIXED 2.67 101.57 102.07 1.26 AA-/A1/AA- SAUDI ARABIA Sr Unsecured



SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 104.02 104.76 3.15 A/A3/- UNITED ARAB EMIRATES Sr Unsecured

SIB SUKUK CO III LTD XS0916902769 16-Apr-2018 500 FIXED 2.95 101.25 101.95 2.15 BBB+/-/BBB+ UNITED ARAB EMIRATES Sr Unsecured

SIB SUKUK CO III LTD XS1202089428 17-Mar-2020 500 FIXED 2.84 100.05 100.60 2.70 -/A3/- UNITED ARAB EMIRATES Sr Unsecured

SOQ SUKUK A Q.S.C XS0801656256 18-Jan-2018 2000 FIXED 2.10 101.77 101.77 1.31 AA/Aa2/- QATAR Sr Unsecured


TAQA ABU DHABI NATL ENER XS0717839525 13-Mar-2017 750 FIXED 4.13 103.03 103.68 1.52 A-/A3/- UNITED ARAB EMIRATES Sr Unsecured



October 5, 2015 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


AMERICA MOVIL SAB DE CV US02364WBD65 16-Jul-2022 1600 FIXED 3.13 97.84 97.84 3.49 A-/A2/A MEXICO Sr Unsecured

AMERICA MOVIL SAB DE CV US02364WBE49 16-Jul-2042 1150 FIXED 4.38 89.10 89.10 5.13 A-/A2/A MEXICO Sr Unsecured

BANCO BTG PACTUAL/CAYMAN US05971BAB53 16-Jan-2020 1000 FIXED 4.00 80.00 80.00 9.84 -/Baa3/BBB- BRAZIL Sr Unsecured

BANCO DO BRASIL (CAYMAN) US05958AAJ79 10-Oct-2022 1925 FIXED 3.88 77.75 77.75 8.10 BB+/Baa3/BBB BRAZIL Sr Unsecured

BANCO NAC DE DESEN ECONO USP14486AK37 14-Apr-2019 1000 FIXED 4.00 92.22 92.22 6.51 BB+/Baa3/- BRAZIL Sr Unsecured

BANCO NAC DE DESEN ECONO USP14486AJ63 26-Sep-2023 1750 FIXED 5.75 87.75 87.75 7.85 BB+/Baa3/BBB BRAZIL Sr Unsecured

CAIXA ECONOMICA FEDERAL US12803X2C42 3-Oct-2018 1250 FIXED 4.50 93.05 93.05 7.12 BB+/Baa3/BBB BRAZIL Sr Unsecured

CAIXA ECONOMICA FEDERAL US12803X2D25 13-May-2019 1300 FIXED 4.25 88.80 88.80 7.88 BB+/Baa3/BBB BRAZIL Sr Unsecured

COMISION FED DE ELECTRIC USP30179AK43 14-Feb-2042 750 FIXED 5.75 94.38 95.50 6.09 BBB+/Baa1/BBB+ MEXICO Sr Unsecured

ECOPETROL SA US279158AK55 16-Jan-2025 1200 FIXED 4.13 84.69 84.69 6.33 BBB/Baa2/BBB COLOMBIA Sr Unsecured

ECOPETROL SA US279158AL39 26-Jun-2026 1500 FIXED 5.38 88.00 88.00 6.98 BBB/Baa2/BBB COLOMBIA Sr Unsecured

ECOPETROL SA US279158AJ82 28-May-2045 2000 FIXED 5.88 75.50 75.50 8.06 BBB/Baa2/BBB COLOMBIA Sr Unsecured

EMBRAER NETHERLANDS FINA US29082HAA05 15-Jun-2025 1000 FIXED 5.05 93.25 93.25 5.98 BBB/Baa3/- BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BU30 5-Jan-2023 2150 FIXED 2.63 83.75 84.50 5.22 BB+/Baa3/BBB BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BV13 7-Jan-2025 4300 FIXED 4.25 89.51 91.20 5.47 BB+/Baa3/BBB BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BR01 7-Jan-2041 2504 FIXED 5.63 84.50 85.50 6.84 BB+/Baa3/BBB BRAZIL Sr Unsecured

FED REPUBLIC OF BRAZIL US105756BW95 27-Jan-2045 3550 FIXED 5.00 79.00 79.00 6.63 BB+/Baa3/BBB BRAZIL Sr Unsecured

FOMENTO ECONOMICO MEX US344419AB20 10-May-2043 700 FIXED 4.38 93.04 93.04 4.83 A-/-/A MEXICO Sr Unsecured

GERDAU TRADE INC USG3925DAA84 30-Jan-2021 1250 FIXED 5.75 88.89 88.89 8.38 BBB-/NR/BBB- BRAZIL Sr Unsecured

GERDAU TRADE INC USG3925DAB67 15-Apr-2023 750 FIXED 4.75 80.00 80.00 8.39 BBB-/Baa3/BBB- BRAZIL Sr Unsecured

GRUPO TELEVISA SAB US40049JBA43 13-May-2045 1000 FIXED 5.00 89.08 89.08 5.77 BBB+/Baa1/BBB+ MEXICO Sr Unsecured

LUKOIL INTL FINANCE BV XS0919502434 24-Apr-2018 1500 FIXED 3.42 96.55 96.55 4.87 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

LUKOIL INTL FINANCE BV XS0304274599 7-Jun-2022 500 FIXED 6.66 99.00 99.00 6.84 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

LUKOIL INTL FINANCE BV XS0919504562 24-Apr-2023 1500 FIXED 4.56 89.25 89.25 6.38 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

MMC NORILSK NICK VIA MMC XS0982861287 28-Oct-2020 1000 FIXED 5.55 99.91 99.91 5.57 BBB-/Ba1/BBB- RUSSIAN FEDERATION Sr Unsecured

PETROLEOS MEXICANOS US71654QBG64 30-Jan-2023 2100 FIXED 3.50 91.25 91.25 4.94 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PETROLEOS MEXICANOS US71656MBA62 15-Jan-2025 1000 FIXED 4.25 94.61 94.61 4.98 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PETROLEOS MEXICANOS US71656MBD02 23-Jan-2026 1500 FIXED 4.50 94.26 94.26 5.23 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PETROLEOS MEXICANOS US71656MBE84 23-Jan-2046 3000 FIXED 5.63 84.05 84.05 6.88 BBB+/A3 /*-/BBB+ MEXICO Sr Unsecured

PHILIPPINE GOVERNMENT PHY6972FTP53 4-Jun-2023 500 FIXED 2.75 97.71 98.98 2.90 -/Baa2/- PHILIPPINES Sr Unsecured

REPUBLIC OF AZERBAIJAN XS1044540547 18-Mar-2024 1250 FIXED 4.75 95.01 95.96 5.35 -/Baa3/BBB- AZERBAIJAN Sr Unsecured

REPUBLIC OF COLOMBIA USP3772NHK11 15-Mar-2023 1000 FIXED 2.63 90.13 90.13 4.18 BBB/Baa2/BBB COLOMBIA Sr Unsecured

REPUBLIC OF COLOMBIA US195325BQ70 26-Feb-2024 2100 FIXED 4.00 98.00 98.00 4.29 BBB/Baa2/BBB COLOMBIA Sr Unsecured

REPUBLIC OF COLOMBIA US195325CU73 15-Jun-2045 2500 FIXED 5.00 88.25 88.25 5.84 BBB/Baa2/BBB COLOMBIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BC22 25-Apr-2022 2000 FIXED 3.75 96.38 97.07 4.27 BB+/Baa3/BBB- INDONESIA Sr Unsecured



October 5, 2015 USD EMERGING MARKET INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


REPUBLIC OF INDONESIA USY20721BD05 15-Apr-2023 1500 FIXED 3.38 92.85 93.56 4.39 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BG36 15-Jan-2025 2000 FIXED 4.13 96.92 97.39 4.47 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BB49 17-Jan-2042 2250 FIXED 5.25 92.57 93.15 5.76 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BE87 15-Apr-2043 1500 FIXED 4.63 86.55 87.42 5.52 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF INDONESIA USY20721BM04 15-Jan-2045 2000 FIXED 5.13 90.88 91.50 5.73 BB+/Baa3/BBB- INDONESIA Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1120709669 14-Oct-2024 1500 FIXED 3.88 91.02 91.84 5.01 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1263054519 21-Jul-2025 2500 FIXED 5.13 97.71 98.37 5.34 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1120709826 14-Oct-2044 1000 FIXED 4.88 80.58 81.68 6.25 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF KAZAKHSTAN XS1263139856 21-Jul-2045 1500 FIXED 6.50 95.69 96.63 6.76 BBB/Baa2/BBB+ KAZAKHSTAN Sr Unsecured

REPUBLIC OF PANAMA US698299BE38 16-Mar-2025 1250 FIXED 3.75 98.53 99.60 3.80 BBB/Baa2/BBB PANAMA Sr Unsecured

REPUBLIC OF TURKEY US900123CA66 23-Mar-2023 1500 FIXED 3.25 90.13 90.58 4.77 -/Baa3/BBB- TURKEY Sr Unsecured

REPUBLIC OF TURKEY US900123CJ75 14-Apr-2026 1500 FIXED 4.25 92.46 93.10 5.11 -/Baa3/BBB- TURKEY Sr Unsecured

REPUBLIC OF TURKEY US900123CB40 16-Apr-2043 3000 FIXED 4.88 85.15 85.73 5.93 -/Baa3/BBB- TURKEY Sr Unsecured

TRANSPORT DE GAS PERU USP9367RAG67 30-Apr-2028 850 FIXED 4.25 94.00 94.00 4.99 BBB+/Baa1/BBB+ PERU Sr Unsecured

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

TURK TELEKOMUNIKASYON AS XS1028951264 19-Jun-2024 500 FIXED 4.88 92.30 92.30 6.02 BBB-/-/BBB- TURKEY Sr Unsecured

UNITED MEXICAN STATES US91087BAA89 30-Jan-2025 3000 FIXED 3.60 100.75 100.75 3.50 BBB+/A3/BBB+ MEXICO Sr Unsecured

UNITED MEXICAN STATES US91086QBB32 8-Mar-2044 4463 FIXED 4.75 95.00 96.00 5.02 BBB+/A3/BBB+ MEXICO Sr Unsecured

UNITED MEXICAN STATES US91086QBF46 23-Jan-2046 3000 FIXED 4.60 92.50 92.50 5.09 BBB+/A3/BBB+ MEXICO Sr Unsecured

VALE OVERSEAS LIMITED US91911TAM53 11-Jan-2022 2250 FIXED 4.38 90.62 90.62 6.20 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

VALE OVERSEAS LIMITED US91911TAH68 21-Nov-2036 2500 FIXED 6.88 81.00 81.00 8.88 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

VALE OVERSEAS LIMITED US91911TAK97 10-Nov-2039 1750 FIXED 6.88 79.07 79.07 9.02 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

VALE SA US91912EAA38 11-Sep-2042 1500 FIXED 5.63 70.19 70.19 8.45 BBB/Baa2/BBB+ BRAZIL Sr Unsecured

YAPI VE KREDI BANKASI XS0874840688 22-Jan-2020 500 FIXED 4.00 93.52 93.52 5.72 -/Baa3/BBB TURKEY Sr Unsecured



October 5, 2015 USD INDIA INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ADANI PORTS AND SPECIAL USY00130CZ88 29-Jul-2020 650 FIXED 3.50 100.44 100.44 3.40 BBB-/Baa3/BBB- INDIA Sr Unsecured

AE ROTOR HOLDING BV XS0907891047 28-Mar-2018 647 FIXED 4.97 102.65 102.65 3.86 -/Baa3/- INDIA Sr Unsecured

AXIS BANK/DUBAI US05463EAC21 21-May-2020 750 FIXED 3.25 100.89 100.89 3.04 BBB-/Baa3/BBB- INDIA Sr Unsecured

BANK OF INDIA LONDON USY06865AA04 21-Sep-2018 500 FIXED 3.63 102.17 102.17 2.85 BBB-/Baa3/- INDIA Sr Unsecured

BANK OF INDIA/JERSEY XS1227592703 6-May-2020 750 FIXED 3.13 99.69 100.06 3.11 BBB-/Baa3/- INDIA Sr Unsecured

BHARAT PETROLEUM CORP XS1227064430 8-May-2025 500 FIXED 4.00 97.93 98.69 4.17 -/Baa3/BBB- INDIA Sr Unsecured

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

BHARTI AIRTEL LTD USY0889VAA80 10-Jun-2025 1000 FIXED 4.38 100.26 100.26 4.34 BBB-/Baa3/BBB- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS0813393849 7-Aug-2017 500 FIXED 4.00 103.50 103.50 2.05 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS1050464996 2-Oct-2019 500 FIXED 3.88 104.12 104.12 2.78 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS1209864229 1-Apr-2020 500 FIXED 2.75 99.41 99.82 2.79 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS1165130219 12-Aug-2020 500 FIXED 2.75 99.18 99.65 2.83 BBB-/Baa3/- INDIA Sr Unsecured

EXPORT-IMPORT BK INDIA XS0872917660 14-Jan-2023 750 FIXED 4.00 101.84 101.84 3.71 BBB-/Baa3/- INDIA Sr Unsecured

HDFC BANK LTD/BAH XS0897434949 6-Mar-2018 500 FIXED 3.00 101.46 101.74 2.25 BBB-/Baa3/- INDIA Sr Unsecured

ICICI BANK LTD/DUBAI US45112FAG19 18-Mar-2020 700 FIXED 3.50 102.01 102.01 3.01 BBB-/Baa3/BBB- INDIA Sr Unsecured

ICICI BANK LTD/DUBAI XS1274011102 12-Aug-2020 500 FIXED 3.13 99.84 100.26 3.07 BBB-/Baa3/- INDIA Sr Unsecured

IDBI BANK LTD/DIFC DUBAI XS0832492267 26-Mar-2018 500 FIXED 4.38 102.78 102.78 3.20 BB+/Baa3/BBB- INDIA Sr Unsecured

INDIAN RAILWAY FINANCE C XS0836520717 10-Oct-2017 300 FIXED 3.42 102.12 102.40 2.19 BBB-/Baa3/BBB- INDIA Sr Unsecured

INDIAN RAILWAY FINANCE C XS1016035476 26-Feb-2019 500 FIXED 3.92 103.65 104.01 2.67 BBB-/Baa3/BBB- INDIA Sr Unsecured

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

OIL INDIA LTD XS1057074871 17-Apr-2019 500 FIXED 3.88 103.16 103.51 2.82 -/Baa2/BBB- INDIA Sr Unsecured

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

ONGC VIDESH LTD XS0922882344 7-May-2023 500 FIXED 3.75 98.02 98.02 4.06 BBB-/Baa2/- INDIA Sr Unsecured

ONGC VIDESH LTD XS1079848369 15-Jul-2024 750 FIXED 4.63 103.07 103.75 4.11 BBB-/Baa2/- INDIA Sr Unsecured

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

RELIANCE INDUSTRIES LTD USY72596BU56 28-Jan-2025 1000 FIXED 4.13 99.54 99.54 4.18 BBB+/Baa2/- INDIA Sr Unsecured

RELIANCE INDUSTRIES LTD USY72570AM99 10-Feb-2045 750 FIXED 4.88 90.38 90.38 5.54 BBB+/Baa2/- INDIA Sr Unsecured

STATE BANK INDIA/LONDON USU85528AB04 1-Aug-2017 1250 FIXED 4.13 103.54 103.54 2.12 BBB-/Baa3/BBB- INDIA Sr Unsecured

STATE BANK INDIA/LONDON USY81636AC94 18-Apr-2018 1000 FIXED 3.25 102.12 102.12 2.38 BBB-/Baa3/BBB- INDIA Sr Unsecured

STATE BANK INDIA/LONDON USY81647AA02 17-Apr-2019 750 FIXED 3.62 103.30 103.30 2.63 BBB-/Baa3/BBB- INDIA Sr Unsecured

SYNDICATE BANK XS0841358103 12-Apr-2018 500 FIXED 4.13 102.90 103.24 2.78 BBB-/Baa3/- INDIA Sr Unsecured

SYNDICATE BANK/LONDON XS1073127901 4-Dec-2019 400 FIXED 3.88 102.35 102.81 3.15 BBB-/Baa3/- INDIA Sr Unsecured

UNION BANK OF INDIA HK XS0819566182 22-Aug-2017 350 FIXED 4.63 103.89 103.89 2.49 BBB-/Baa3/- INDIA Sr Unsecured

UNION BANK OF INDIA HK XS0923436264 25-Oct-2018 350 FIXED 3.63 102.00 102.45 2.78 BBB-/Baa3/- INDIA Sr Unsecured



October 5, 2015 USD SUKUK


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ADCB ISLAMIC FINANCE CAY XS0708308845 22-Nov-2016 500 FIXED 4.07 103.25 103.25 1.15 A/A1u/A+ UNITED ARAB EMIRATES Sr Unsecured

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

EMAAR SUKUK LTD XS0805885349 18-Jul-2019 500 FIXED 6.40 112.17 112.17 2.97 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured

EMAAR SUKUK LTD XS0586840588 3-Aug-2016 500 FIXED 8.50 105.60 106.27 0.83 BBB-/Ba1/- UNITED ARAB EMIRATES Sr Unsecured

HONG KONG SUKUK USY35527AA11 18-Sep-2019 1000 FIXED 2.01 100.84 101.31 1.66 AAA/Aa1/- HONG KONG Unsecured

HONG KONG SUKUK 2015 LTD XS1226268735 3-Jun-2020 1000 FIXED 1.89 100.26 100.70 1.74 AAA/Aa1/- HONG KONG Secured

IDB TRUST SERVICES LTD XS0939694138 4-Jun-2018 1000 FIXED 1.54 100.63 101.02 1.14 AAA/Aaa/AAA SUPRANATIONAL Sr Unsecured

MALAYSIA SOVEREIGN SUKUK USY5749LAA99 22-Apr-2025 1000 FIXED 3.04 95.87 96.51 3.48 A-/A3/- MALAYSIA Unsecured

MALAYSIA SOVEREIGN SUKUK USY5749LAB72 22-Apr-2045 500 FIXED 4.24 91.45 93.11 4.67 A-/A3/- MALAYSIA Unsecured

OOREDOO TAMWEEL LTD XS0999501538 3-Dec-2018 1250 FIXED 3.04 102.72 103.26 1.97 A-/A2/A+ QATAR Sr Unsecured

ISLAMIC REP OF PAKISTAN XS1147732553 3-Dec-2019 1000 FIXED 6.75 102.32 103.15 5.88 B-/B3/- PAKISTAN Sr Unsecured

PERUSAHAAN PENERBIT SBSN USY68616AA22 21-Nov-2018 1000 FIXED 4.00 104.05 104.56 2.47 BB+/Baa3/BBB- INDONESIA Sr Unsecured

PERUSAHAAN PENERBIT SBSN US71567RAC07 10-Sep-2024 1500 FIXED 4.35 98.38 98.38 4.57 (P)BB+/Baa3/BBB- INDONESIA Sr Unsecured

PERUSAHAAN PENERBIT SBSN US71567RAB24 15-Mar-2019 1500 FIXED 6.13 109.88 110.52 2.89 BB+/Baa3/BBB- INDONESIA Sr Unsecured

PERUSAHAAN PENERBIT SBSN US71567RAA41 21-Nov-2022 1000 FIXED 3.30 92.61 93.37 4.39 BB+/Baa3/BBB- INDONESIA Sr Unsecured

PETRONAS GLOBAL SUKUK LT USY68868AA92 18-Mar-2020 1250 FIXED 2.71 99.71 99.71 2.78 A-/A1/- MALAYSIA Sr Unsecured





SAUDI ELEC GLOBAL SUKUK XS1054250318 8-Apr-2044 1000 FIXED 5.50 99.94 99.94 5.50 AA-/A1/AA- SAUDI ARABIA Sr Unsecured

SAUDI ELEC GLOBAL SUKUK XS1054250235 8-Apr-2024 1500 FIXED 4.00 103.81 103.81 3.48 AA-/A1/AA- SAUDI ARABIA Sr Unsecured

SHARJAH SUKUK LTD XS1106137687 17-Sep-2024 750 FIXED 3.76 104.02 104.76 3.15 A/A3/- UNITED ARAB EMIRATES Sr Unsecured



SUKUK FUNDING NO3 LTD XS0993959583 3-Dec-2018 750 FIXED 4.35 105.07 105.61 2.49 BBB-/Baa3/- UNITED ARAB EMIRATES Sr Unsecured

WAKALA GLOBAL SUKUK BHD USY9485PAB86 6-Jul-2021 800 FIXED 4.65 109.58 110.05 2.74 A-/A3/- MALAYSIA Sr Unsecured

WAKALA GLOBAL SUKUK BHD USY9485PAA04 6-Jul-2016 1200 FIXED 2.99 101.24 101.40 1.10 A-/A3/- MALAYSIA Sr Unsecured



October 5, 2015 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


ABN AMRO BANK NV XS1218821756 16-Apr-2025 1250 FIXED 1.00 93.78 94.22 1.66 A/A2/A NETHERLANDS Sr Unsecured

ANGLO AMERICAN CAPITAL XS0923361827 29-Apr-2021 750 FIXED 2.50 83.09 84.34 5.88 BBB-/Baa2/BBB UNITED KINGDOM Sr Unsecured

AT&T INC XS1196373507 5-Sep-2023 1250 FIXED 1.30 95.14 95.64 1.90 BBB+/Baa1/A- UNITED STATES Sr Unsecured

BANK OF AMERICA CORP XS1209863254 26-Mar-2025 750 FIXED 1.38 94.34 94.78 1.99 A-/Baa1/A UNITED STATES Sr Unsecured

BANKIA SA ES0413307093 25-Sep-2025 1000 FIXED 1.00 94.98 95.69 1.47 A/A1u/A- SPAIN Secured

BARCLAYS PLC XS1116480697 1-Apr-2022 1000 FIXED 1.50 97.78 98.19 1.80 BBB/Baa3/A UNITED KINGDOM Sr Unsecured

BERKSHIRE HATHAWAY INC XS1200670955 16-Mar-2023 750 FIXED 0.75 94.93 95.38 1.41 AA /*-/Aa2/A+ UNITED STATES Sr Unsecured

BHP BILLITON FINANCE LTD XS1225004461 28-Oct-2022 650 FIXED 0.75 93.50 94.20 1.63 A+/A1/A+ AUSTRALIA Sr Unsecured

BLACKROCK INC XS1117297785 6-May-2025 700 FIXED 1.25 93.88 94.62 1.87 AA-/A1/- UNITED STATES Sr Unsecured

BMW FINANCE NV XS1168962063 21-Jan-2025 750 FIXED 1.00 92.58 93.21 1.80 A+/A2/- GERMANY Sr Unsecured

BNP PARIBAS XS1190632999 17-Feb-2025 1500 FIXED 2.38 94.49 95.03 2.99 BBB/Baa2/A FRANCE Subordinated

BP CAPITAL MARKETS PLC XS1190973559 16-Feb-2023 1250 FIXED 1.11 96.36 96.83 1.57 A/A2/- UNITED KINGDOM Sr Unsecured

BPCE SA FR0012633345 12-Mar-2025 375 FIXED 2.25 92.77 93.15 3.10 BBB/Baa3/A- FRANCE Subordinated

BRISTOL-MYERS SQUIBB CO XS1226748439 15-May-2025 575 FIXED 1.00 95.14 95.66 1.49 A+/A2/A- UNITED STATES Sr Unsecured

CARREFOUR SA XS1179916017 3-Jun-2025 750 FIXED 1.25 94.85 95.50 1.76 BBB+/NR/BBB+ FRANCE Sr Unsecured

CITIGROUP INC XS1173792059 28-Jan-2025 1250 FIXED 1.75 97.58 98.02 1.98 A-/Baa1/A UNITED STATES Sr Unsecured

COCA-COLA CO/THE XS1197832915 9-Mar-2023 1500 FIXED 0.75 96.04 96.50 1.25 AA/Aa3/A+ UNITED STATES Sr Unsecured

CRED SUIS GP FUN LTD XS1218287230 14-Apr-2022 2250 FIXED 1.25 95.75 96.16 1.88 BBB+/Baa2/A SWITZERLAND Sr Unsecured

CREDIT AGRICOLE LONDON XS1169630602 19-Jan-2022 1500 FIXED 0.88 96.77 97.09 1.36 A/A2/A FRANCE Sr Unsecured

CREDIT AGRICOLE LONDON FR0012534931 13-Feb-2022 700 FIXED 0.89 97.25 97.55 1.29 A/A2/- FRANCE Sr Unsecured

CREDIT AGRICOLE LONDON FR0012770261 9-Jun-2022 500 FIXED 1.16 98.48 98.79 1.35 A/A2/- FRANCE Sr Unsecured

DANONE SA FR0012432912 14-Jan-2025 750 FIXED 1.13 95.87 96.46 1.54 A-/Baa1/- FRANCE Sr Unsecured

DEUTSCHE BANK AG DE000DB7XJJ2 17-Feb-2025 1250 FIXED 2.75 93.47 94.05 3.51 BBB-/Ba1/A- GERMANY Subordinated

DEUTSCHE BANK AG DE000DB7XJP9 17-Mar-2025 1500 FIXED 1.13 91.25 91.81 2.09 BBB+/A3/A GERMANY Sr Unsecured

EDP FINANCE BV XS1222590488 22-Apr-2025 750 FIXED 2.00 91.15 91.93 2.98 BB+/Baa3/BBB- PORTUGAL Sr Unsecured

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

COUPON0.00 93.37 93.63 1.17 -/Baa2/BBB+ AUSTRIA Sr Unsecured

GE CAPITAL EURO FUNDING XS1169353254 21-Jan-2022 1000 FIXED 0.80 97.93 98.28 1.08 AA+/A1/- UNITED STATES Sr Unsecured

GLENCORE FINANCE EUROPE XS1202846819 17-Mar-2021 1250 FIXED 1.25 77.37 78.41 6.02 BBB/Baa2/- SWITZERLAND Sr Unsecured

GLENCORE FINANCE EUROPE XS1110430193 18-Jan-2022 700 FIXED 1.63 76.86 78.00 5.92 BBB/Baa2/- SWITZERLAND Sr Unsecured

GLENCORE FINANCE EUROPE XS1202849086 17-Mar-2025 750 FIXED 1.75 74.56 75.92 5.01 BBB/Baa2/- SWITZERLAND Sr Unsecured

GOLDMAN SACHS GROUP INC XS1173845436 26-Jul-2022 1000 FIXED 1.38 97.82 98.17 1.66 A-/A3/A UNITED STATES Sr Unsecured

IBERDROLA INTL BV XS1171541813 27-Jan-2023 600 FIXED 1.13 96.26 96.81 1.59 BBB/Baa1/BBB+ SPAIN Sr Unsecured

INTESA SANPAOLO SPA XS1197351577 4-Mar-2022 1500 FIXED 1.13 94.84 95.21 1.93 BBB-/Baa1/BBB+ ITALY Sr Unsecured

JPMORGAN CHASE & CO XS1174469137 27-Jan-2025 1500 FIXED 1.50 97.53 97.99 1.74 A/A3/A+ UNITED STATES Sr Unsecured

LLOYDS BANK PLC XS1167204699 13-Jan-2025 1000 FIXED 1.25 96.51 96.97 1.60 A/A1/A+ UNITED KINGDOM Sr Unsecured



October 5, 2015 EUR INVESTMENT GRADE ISSUES


Amount (Mio)

Coupon


Indic.

Offer

Offer Yield

%

Credit Rating


MACQUARIE BANK LTD XS1169353338 20-Jan-2022 500 FIXED 1.13 96.48 96.91 1.65 A/A2/A AUSTRALIA Sr Unsecured

MCDONALD'S CORP XS1237271009 26-May-2022 800 FIXED 1.13 98.50 98.99 1.29 A-/A3/BBB+ UNITED STATES Sr Unsecured

METRO AG XS1203941775 19-Mar-2025 600 FIXED 1.50 93.32 94.03 2.21 BBB-/Baa3u/BBB- GERMANY Sr Unsecured

MORGAN STANLEY XS1180256528 30-Jan-2025 1500 FIXED 1.75 97.49 98.02 1.98 A-/A3/A UNITED STATES Sr Unsecured

ROCHE FINANCE EUROPE BV XS1195056079 25-Feb-2025 1000 FIXED 0.88 96.07 96.63 1.26 AA/A1/- SWITZERLAND Sr Unsecured

SANTANDER ISSUANCES XS1201001572 18-Mar-2025 1500 FIXED 2.50 91.67 92.29 3.47 BBB-/Baa2/BBB+ SPAIN Subordinated

SAP SE DE000A14KJF5 1-Apr-2025 600 FIXED 1.00 96.34 96.93 1.35 A/A2/- GERMANY Sr Unsecured

SOCIETE GENERALE XS1195574881 27-Feb-2025 1250 FIXED 2.63 93.90 94.56 3.31 -/Baa3/A- FRANCE Subordinated

STATOIL ASA XS1190624111 17-Feb-2023 1000 FIXED 0.88 96.96 97.44 1.24 AA-/Aa2/- NORWAY Sr Unsecured

TOTAL CAPITAL INTL SA XS1139315581 19-Mar-2025 850 FIXED 1.38 96.78 97.45 1.67 AA-/Aa1/- FRANCE Sr Unsecured

VOLKSWAGEN INTL FIN NV XS1167644407 16-Jan-2023 1000 FIXED 0.88 87.18 87.89 2.73 A /*-/A2/- GERMANY Sr Unsecured


Documents

mashreq...Saudi Arabia’snet foreign assets dropped to the lowest level in more than two years in August, as the world’slargest crude exporter grappled with oil prices below USD50