mashreq Fixed Income Trading Daily Bond Market Update
Sunday, November 02, 2014
Market Update • BOJ surprisingly announced expansion in bond purchases followed by GPIF’s plans to double equities allocation
The Governor of BOJ Haruhiko Kuroda on Friday surprised the markets by announcing an expansion in the bank’s bond buying program under its unprecedented monetary stimulus. BOJ’s plan to expand bond buying came just two days after the Fed announced an end to monthly bond purchases. The BOJ will buy assets from government debt to real-estate investment trusts and plans to expand the monetary base by 80 trillion yen (USD 713 billion) a year, up from a previous 60 trillion to 70 trillion yen. A few hours later, the Government Pension Investment Fund, under Takahiro Mitani, said it would put half its holdings in local and foreign stocks, effectively doubling the allocation to equities. GPIF set allocation targets of 25% each for Japanese and overseas equities, up from 12% each. The pension fund will reduce domestic bonds to 35% of assets from 60%. The two major announcements caused a significant drop in yen, which tumbled to its weakest level in almost 7 years. The yen touched 112.48 per dollar, the lowest since December 2007, before ending the month of October down 2.4% at 112.32. This was yen’s fourth straight month of decline versus the dollar. The pension fund announcement boosted Japanese equities and the Nikkei-225 Stock Average surged 4.8% on Friday. The Topix index soared the most in a year and erased all its YTD losses in just one day. (Bloomberg) • US equities reach record high, closing the month of October on a positive note
US equities rallied and ended the month of October, one of the most volatile in 6 years, with positive performance. Strong corporate earnings and improving US economic data provided a boost to equities in the last week of October and took both the S&P 500 and the Dow Jones Industrial indices to all-time highs. The S&P 500 index posted a return of 2.72% during the last week and closed at 2018. The index is up 8.4% since sinking to a 6-month low on 15th October. The DJIA was up 3.5% for the week, its best weekly return since January 2013. (Bloomberg) • Oil prices remain under pressure
Brent crude posted a sixth weekly loss, the longest losing streak since 2002, as OPEC boosted production to a 14-month high amid a global surplus. West Texas Intermediate posted the biggest monthly drop in more than two years. Brent fell 9.3% in October, which is the biggest monthly decline since May 2012. Brent for December settlement slid 38 cents, or 0.4% to USD 85.86/bbl. WTI for December delivery declined 58 cents, or 0.7%, to USD 80.54/bbl. (Bloomberg) • US treasury yields inch up on Fed’s hawkish tone
The US treasury yields rose after the hawkish tone in the FOMC announcement. The two-year yield rose 11 bps last week to 0.50%, rising the most since July 2011, after the Fed ended its bond purchases and noted labor-market gains. The five-year yields reached a three-week high of 1.63%, while the benchmark 10-year yield climbed seven bps to 2.335%. (Bloomberg) • Kurdistan eyes debt financing
The Kurdistan Regional Government is sounding out investors about a potential debt financing. Kurdish officials led by the deputy prime minister were in London this week holding private talks with fixed-income accounts, according to investors. Deutsche Bank and Goldman Sachs arranged the meetings, the investors added. Kurdistan, a semi-autonomous region of northern Iraq, needs money to meet a growing security bill, to pay public-sector employees and to fund much-needed infrastructure development. (Zawya) • Egypt signs $350 mln in oil, power financing deals with Saudi Arabia
Egypt signed $350 million worth of financing agreements with Saudi Arabia on Saturday aimed at upgrading its power grid and securing imports of petroleum products as it seeks to end its worst energy crisis in decades. Two loan agreements signed on Saturday worth a total of about $100 million will be invested in two electricity stations that are expected to boost the capacity of the national grid. A further $250 million in assistance will come in the form of petroleum products. (Bloomberg) Financal Results Update • Emaar's malls unit posts 55% jump in Q3 net profit
Emaar Malls Group (EMG), a unit of Emaar Properties that listed on the emirate's main stock market in October, reported a 55.2% rise in third-quarter net profit on Thursday. The retail and malls unit of Dubai's largest developer made a quarterly profit of AED321.18mn ($87.5mn), up from AED206.97mn in the corresponding period of 2013. Quarterly revenue was AED649.88mn versus AED542.74mn a year ago. (Bloomberg) • Saudi Arabia’s Kingdom Holding Q3 Net Profit Rises 20.5%
Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 20.5 per cent rise in third-quarter net profit on Thursday, on the back of higher investment profits. Kingdom made a net profit of SR265 million ($70.6 million) in the three months ended September 30, compared to SR219.9 million in the same period a year earlier, it said in a bourse statement. It attributed the rise to an increase in profits from investments and to lower finance charges. (Bloomberg) • Turkiye Halk Bankasi reduced full year profit forecast on the back of rising loan losses
Turkiye Halk Bankasi, Turkey’s biggest publicly traded state bank, cut its 2014 profit forecast as a loan valued at 1.08 billion liras (USD 490 million) became non-performing. The bank forecasts a 15% contraction in profit this year, compared with previous guidance, Elvan Oztabak, head of investor relations, said on the lender’s earnings call last week. The bank reported profit of 601 million liras for the third quarter, narrowly beating analysts’ estimates. Halkbank used 132 million liras of its free provisions to cover 20% of a loan made to electricity grid operator Osmangazi Elektrik Dagitim AS and said that it expects to set aside more provisions, increasing the ratio to 50 percent next quarter. Halkbank’s non-performing loan ratio rose by more than 1 percentage point to 3.7% in the third quarter, compared with an industry average of 2.9%. (Bloomberg) New Issues Update • China Construction Bank to conduct investor meetings
China Construction Bank (Asia) Corporation Limited, rated A2 (stable) by Moody's and A (stable) by Fitch, has appointed Deutsche Bank and HSBC to arrange a series of fixed income investor meetings in Europe commencing on Wednesday 5 November 2014. (Lead Manager) • JSW Steel to conduct roadshows for a new bond issue
JSW Steel Limited, expected to be rated Ba1 (Stable) by Moody’s and BB+ (Stable) by Fitch, has mandated banks to arrange a series of fixed income investor meetings in Hong Kong, Singapore, and London commencing 3rd November. A Regulation S USD denominated senior unsecured notes offering may follow subject to market conditions. The Notes are expected to be rated Ba1 by Moody’s and BB+ by Fitch. (Lead Manager) In a note on Friday, rating agency Fitch Inc. assigned a BB+ rating with a stable outlook on the bond. “JSW Steel benefits from its low cost base due to its low conversion costs (cost to convert raw materials to finished products). The company’s efficient operations are reflected in its strong profitability. Fitch expects JSW Steel’s financial profile to improve over the near to medium term, supported by higher production volumes following expanded capacity and better profitability,” Fitch said in the note. (Bloomberg) • Indiabulls readies for an inaugural bond sale
Century Limited, a Jersey wholly owned subsidiary of Indiabulls Real Estate Limited has mandated Deutsche Bank as the Sole Bookrunner and Lead Manager to arrange fixed income investor meetings in Asia and Europe commencing on October 31,2014. A Reg S offering of US-dollar fixed rate senior notes may follow, subject to market conditions. Moody’s and Fitch have assigned the proposed US dollar denominated guaranteed notes a provisional rating of B1 and B+ respectively. (Lead Manager) Roadshow Schedule Fri Oct 31st : Singapore Mon Nov 3rd : Hong Kong Tue Nov 4th : London • MTN Group may issue a bond this week
MTN Group (BBB/Baa2/-), a leading multinational mobile operator headquartered in Johannesburg, South Africa, may issue a dollar bond this week following the roadshow which commenced on October 27th. As per the lead arrangers, MTN may raise USD 500 – 750 million with a 7 – 10 year term from the bond sale. (Lead Manager) DIFC Investment’s roadshow is happening today in Abu Dhabi and Dubai. • Mubadala GE Capital Ltd. may issue a bond this week
Mubadala GE Capital Ltd’s roadshow ended on the October 31st and a dollar issue is expected this week. Rating Update • S&P raises credit rating outlook on Ras Al Khaimah to stable
Months after tagging Ras Al Khaimah’s credit rating with a negative outlook, Standard & Poor’s has raised the outlook to stable and said the emirate is improving the reliability of its economic data. “We view the authorities’ progress and long-term commitment to strengthen the emirate of Ras Al Khaimah’s government institutions and address data shortcomings as a positive development,” the agency said in a report late Friday. The agency now rates RAK as “stable” with its A/A-1 ratings affirmed. • S&P revises outlook on Jordan
On Oct. 31, 2014, Standard & Poor's Ratings Services revised its outlook on the Hashemite Kingdom of Jordan to stable from negative. At the same time, the rating agency affirmed the long- and short-term foreign and local currency sovereign credit ratings on Jordan at 'BB-/B'. (Bloomberg)
Page 1
CREDIT MARKETS
bps
Spread
iTraxx Europe
SWAPS Change
Change
USD
Day
YTD
Last
1d Chg
Last
EUR 1d Chg
Last
AED 1d Chg
65.079
-3.085
-5.172
2-Year
0.708
0.021
0.218
-0.011
1.075
0.010
353.232
-11.746
66.597
5-Year
1.757
0.032
0.437
-0.027
2.275
0.020
CDX North America IG
63.925
-1.643
1.577
10-Year
2.481
0.033
1.065
-0.014
3.450
0.020
CDX North America HY
343.579
-7.902
36.425
30-Year
3.057
0.028
1.810
0.008
N/A
N/A
Source: Bloomberg
iTraxx Europe Crossover
iTraxx SovX Western Europe iTraxx SovX CEEMEA
32.804
N/A
-30.779
218.718
N/A
38.790
67.083
-2.418
-20.119
155.173
-8.162
26.550
iTraxx Europe Senior Financial iTraxx Europe Sub Financial Source: Bloomberg
CDS
MISCELLANEOUS Change
bps
Spread
Day
Emirate of Abu Dhabi 5Y
55.500
0.000
Change
Last
Change
Change
Day
YTD (%)
2,018.05
23.40
9.18
17,390.52
195.10
4.91
4,629.46
84.07
37.38
YTD 0.500
S&P 500
Emirate of Dubai 5Y
165.000
-5.000
-55.000
Dow Jones Industrial Avg
Kingdom of Bahrain 5Y
190.000
N/A
-43.000
DFM General Index
State of Qatar CDS 5Y
65.500
0.000
5.500
ADX General Index
Kingdom of Saudi Arabia 5Y
60.500
N/A
0.500
Qatar Exchange Index
4,945.09
83.64
15.26
13,660.23
161.37
31.61 17.57
Lebanese Republic 5Y
355.000
N/A
-40.000
TASI
10,034.92
-47.04
Republic of Turkey 5Y
173.500
-2.500
-71.500
Spot Gold
1,172.94
-25.91
-2.39
Arab Republic of Egypt 5Y
255.000
N/A
-335.000
Spot Silver
16.16
-0.34
-17.01
WTI Crude
80.54
-0.58
-13.14
Source: Bloomberg
Source: Bloomberg
MUTUAL FUNDS
Last (NAV)
Change
Change
1 Month
1 Year
Mashreq Al-Islami Income Fund
15.13037
-0.10%
5.94%
Mashreq Arab Tigers Fund
20.39870
-5.51%
25.30%
Makaseb Income Fund
12.66019
-1.01%
4.39%
Source: Bloomberg
Page 2
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Abu Dhabi Govt Int'L
XS0422754258
08-Apr-19
1500
100/1
100
Arab Republic Of Egypt
XS0505265859
29-Apr-20
1000
100/1
100
USD
Fixed
6.750
119.25
121.25
1.74
AA /Aa2 /AA
USD
Fixed
5.750
103.00
107.00
4.30
B- /Caa1 /B-
Arab Republic Of Egypt
XS0505478684
30-Apr-40
500
100/1
Bahrain (CBB Int.) (S)
XS0708899272
22-Nov-18
750
100/1
100
USD
Fixed
6.875
99.00
103.00
6.63
B- /Caa1 /B-
100
USD
Fixed
6.273
115.13
116.63
1.98
Commonwealth Of Bahamas
USP06518AF40
16-Jan-24
300
BBB /- /-
200/1
100
USD
Fixed
5.750
106.00
108.00
4.67
BBB /Baa2 /-
Dubai Government (S)
XS0463422161
03-Nov-14
Dubai Government (S)
XS0463422088
03-Nov-14
2500
500/100
100
AED
FRN
4.421
99.50
100.50
-172.80
Not Rated
1250
100/1
100
USD
Fixed
6.396
99.38
100.38
-37.87
Dubai Government (S)
XS0778097088
Not Rated
02-May-17
600
200/1
100
USD
Fixed
4.900
109.00
110.00
0.84
Not Rated
Dubai Government (S) Dubai Government (S)
XS0778097674
02-May-22
650
200/1
100
USD
Fixed
6.450
119.25
120.25
3.37
Not Rated
XS0880424337
30-Jan-23
750
200/1
100
USD
Fixed
3.875
100.38
101.38
3.68
Not Rated
Dubai Govt Int'L Bonds
XS0546426528
05-Oct-15
500
100/1
100
USD
Fixed
6.700
105.50
106.00
0.17
Not Rated
Dubai Govt Int'L Bonds
XS0546428144
05-Oct-20
750
100/1
100
USD
Fixed
7.750
124.00
126.00
2.93
Not Rated
Dubai Govt Int'L Bonds
XS0640032594
22-Jun-21
500
100/1
100
USD
Fixed
5.591
112.25
113.25
3.35
Not Rated
Dubai Dof Sukuk Ltd (S)
XS1062038143
30-Apr-29
750
200/1
100
USD
Fixed
5.000
100.63
101.63
4.84
Not Rated
Dubai Govt Int'L Bonds
XS0880597603
30-Jan-43
500
200/1
100
USD
Fixed
5.250
94.88
96.88
5.47
Not Rated
Gabonese Republic
XS0333225000
12-Dec-17
185
100/1
100
USD
Fixed
8.200
111.88
113.88
3.45
BB- /- /BB-
Gabonese Republic
XS1003557870
12-Dec-24
1500
200/0.001
100
USD
Fixed
6.375
105.38
107.38
5.42
BB- /- /BB-
Govt Of Bermuda
USG10367AB96
06-Feb-24
750
200/1
100
USD
Fixed
4.854
104.75
106.75
3.97
AA- /A1 /A+
Islamic Rep Of Pakistan
USY8793YAK83
31-Mar-16
500
100/1
100
USD
Fixed
7.125
101.13
103.13
4.79
B- /Caa1 /-
Islamic Rep Of Pakistan
USY8793YAM40
01-Jun-17
750
100/1
100
USD
Fixed
6.875
101.38
103.38
5.45
B- /Caa1 /-
Islamic Rep Of Pakistan
XS1056560763
15-Apr-19
1000
200/1
100
USD
Fixed
7.250
103.63
104.63
6.05
B- /Caa1 /-
Islamic Rep Of Pakistan
XS1056560920
15-Apr-24
1000
200/1
100
USD
Fixed
8.250
104.75
105.75
7.39
B- /Caa1 /-
Islamic Rep Of Pakistan
USY8793YAL66
31-Mar-36
300
100/1
100
USD
Fixed
7.875
92.38
94.38
8.45
B- /Caa1 /-
Ivory Coast
XS1089413089
23-Jul-24
750
200/1
100
USD
Fixed
5.375
95.38
97.38
5.73
- /B1 /B
Ivory Coast
XS0496488395
31-Dec-32
2519
100/1
100
USD
Step Cpn
5.750
95.63
97.63
6.10
- /- /B
Kingdom Of Bahrain
XS0498952679
31-Mar-20
1250
100/1
100
USD
Fixed
5.500
108.25
109.75
3.50
BBB /NR /BBB
Kingdom Of Bahrain
XS0794901727
05-Jul-22
1500
200/1
100
USD
Fixed
6.125
112.25
113.75
4.02
BBB /- /BBB
Kingdom Of Bahrain
XS0956406135
01-Aug-23
1500
200/1
100
USD
Fixed
6.125
112.25
113.75
4.23
BBB /- /BBB
Kingdom Of Bahrain
XS1110833123
19-Sep-44
1250
200/1
100
USD
Fixed
6.000
102.88
104.38
5.69
BBB /- /BBB
Kingdom Of Jordan
XS0557127353
12-Nov-15
750
200/1
100
USD
Fixed
3.875
99.63
101.63
2.25
BB- /B1 /-
Kingdom Of Morocco
XS0307883891
27-Jun-17
500
50/1
100
EUR
Fixed
5.375
109.00
111.00
1.13
BBB- /Ba1u /BBB-
Kingdom Of Morocco
XS0546649822
05-Oct-20
1000
50/1
100
EUR
Fixed
4.500
109.38
111.38
2.41
BBB- /- /BBB-
Security Name
Currency
Credit Rating S&P /Moody /Fitch
Sovereign
Page 3
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Kingdom Of Morocco
XS0850020586
11-Dec-22
1500
200/1
100
USD
Fixed
4.250
100.38
102.38
3.90
BBB- /- /BBB-
Kingdom Of Morocco
XS1079233810
19-Jun-24
1000
100/1
100
EUR
Fixed
3.500
101.63
103.63
3.06
BBB- /- /BBB-
Kingdom Of Morocco
US617726AG97
11-Dec-42
750
200/1
100
USD
Fixed
5.500
100.13
103.13
5.28
BBB- /- /BBB-
Lebanese Republic
XS0493540297
09-Mar-20
1200
1/1
100
USD
Fixed
6.375
102.88
105.88
5.10
B- /NR /B
Malays Govt (S)
USY9485PAA04
06-Jul-16
1200
250/1
100
USD
Fixed
2.991
102.63
103.63
0.80
A- /A3 /-
Malays Govt (S)
USY9485PAB86
06-Jul-21
800
250/1
100
USD
Fixed
4.646
110.00
111.50
2.75
A- /A3 /-
Mongolia Intl Bond
US60937GAA40
05-Jan-18
500
200/1
100
USD
Fixed
4.125
93.63
96.13
5.47
B+ /B2 /B+
Mongolia Intl Bond
US60937GAB23
05-Dec-22
1000
200/1
100
USD
Fixed
5.125
88.13
90.63
6.64
B+ /B2 /B+
Provincia De Buenos Aire
XS0546539486
05-Oct-15
1050
100/1
100
USD
Fixed
11.750
94.13
96.63
15.79
CCC- /Caa2 /-
Rak Capital (S)
XS0568993918
28-Jan-16
400
100/1
100
USD
Fixed
5.239
105.13
106.13
0.26
A /- /A
Rak Capital (S)
XS0981184541
21-Oct-18
500
200/1
100
USD
Fixed
3.297
102.88
104.88
2.01
A /- /A
Republic of Angola
XS0814512223
16-Aug-19
1000
250/1
100
USD
Fixed
7.000
105.88
107.88
5.13
BB- /Ba2 /-
Republic Of Azerbaijan
XS1044540547
18-Mar-24
1250
200/1
100
USD
Fixed
4.750
103.63
105.13
4.09
- /Baa3 /BBB-
Republic Of Congo
XS0334989000
30-Jun-29
427
0.893/0.893
100
USD
Step Cpn
3.500
93.13
94.63
6.02
- /- /B+
Republic Of Ghana
XS0323760370
04-Oct-17
531
100/1
100
USD
Fixed
8.500
104.88
106.88
5.89
B- /B2 /B
Republic Of Ghana
XS0956935398
07-Aug-23
1000
200/0.001
100
USD
Fixed
7.875
99.50
101.50
7.63
B- /B2 /B
Republic Of Ghana
XS1108847531
18-Jan-26
1000
200/1
100
USD
Fixed
8.125
99.63
101.63
7.90
B- /B2 /B
Republic of Indonesia (S)
USY68616AA22
21-Nov-18
1000
200/1
100
USD
Fixed
4.000
102.50
104.50
2.81
BB+ /Baa3 /BBB-
Republic of Indonesia (S)
US71567RAB24
15-Mar-19
1500
200/1
100
USD
Fixed
6.125
110.50
112.00
3.16
BB+ /Baa3 /BBB-
Republic of Indonesia (S)
US71567RAA41
21-Nov-22
1000
200/1
100
USD
Fixed
3.300
94.75
96.25
3.85
BB+ /Baa3 /BBB-
Republic Of Indonesia
USY20721BD05
15-Apr-23
1500
200/1
100
USD
Fixed
3.375
95.25
96.75
3.83
BB+ /Baa3 /BBBBB+ /Baa3 /BBB-
Security Name
Republic Of Indonesia
USY20721BJ74
15-Jan-24
2000
200/1
100
USD
Fixed
5.875
113.13
114.63
3.96
Republic of Indonesia / Perusah (S) Republic Of Indonesia
US71567RAC07
10-Sep-24
1500
200/1
100
USD
Fixed
4.350
99.63
101.13
4.21
- /Baa3 /BBB-
USY20721BB49
17-Jan-42
2250
200/1
100
USD
Fixed
5.250
100.50
102.00
5.11
BB+ /Baa3 /BBB-
Republic Of Indonesia
USY20721BE87
15-Apr-43
1500
200/1
100
USD
Fixed
4.625
92.75
94.25
5.01
BB+ /Baa3 /BBB-
Republic Of Indonesia
USY20721BK48
15-Jan-44
2000
200/1
100
USD
Fixed
6.750
122.13
123.63
5.17
BB+ /Baa3 /BBB-
Republic Of Kenya
XS1028951850
24-Jun-19
500
200/1
100
USD
Fixed
5.875
103.25
104.75
4.72
B+ /- /B+
Republic Of Kenya
XS1028952403
24-Jun-24
1500
200/1
100
USD
Fixed
6.875
106.13
107.63
5.83
B+ /- /B+
Republic of Mozambique
XS0969351450
11-Sep-20
850
200/1
100
USD
Fixed
6.305
98.88
100.88
6.12
- /B1 /-
Republic Of Namibia
XS0686701953
03-Nov-21
500
200/1
100
USD
Fixed
5.500
107.50
109.00
4.01
- /Baa3 /BBB-
Republic Of Nigeria
XS0944707651
12-Jul-18
500
200/1
100
USD
Fixed
5.125
101.75
103.75
4.02
BB- /- /BB-
Republic Of Nigeria
XS0584435142
28-Jan-21
500
200/1
100
USD
Fixed
6.750
107.63
109.63
4.93
BB- /- /BB-
Republic Of Nigeria
XS0944707222
12-Jul-23
500
200/1
100
USD
Fixed
6.375
105.50
107.50
5.29
BB- /- /BB-
Page 4
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Republic Of Rwanda
XS0925613217
02-May-23
400
200/1
100
USD
Fixed
6.625
102.75
104.75
5.91
B /- /B+
Republic Of Senegal
XS0625251854
13-May-21
500
200/1
100
USD
Fixed
8.750
113.88
115.88
5.79
B+ /B1 /-
Republic Of Senegal
XS1090161875
30-Jul-24
500
200/1
100
USD
Fixed
6.250
98.00
100.00
6.25
B+ /B1 /-
Republic Of Seychelles
XS0471464023
01-Jan-26
169
0.1/0.1
100
USD
Step Cpn
5.000
96.75
99.75
7.62
- /- /B+
Republic Of Slovenia
XS0982708926
18-Feb-19
1500
200/1
100
USD
Fixed
4.125
104.50
106.00
2.64
A- /Ba1 /BBB+
Republic Of Slovenia
XS0982709221
18-Feb-24
2000
200/1
100
USD
Fixed
5.250
107.38
108.88
4.09
A- /Ba1 /BBB+
Republic Of South Africa
XS0250007498
05-Apr-16
750
50/1
100
EUR
Fixed
4.500
104.38
105.88
0.33
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AD62
23-Jun-17
141
1/1
100
USD
Fixed
8.500
115.25
116.75
1.94
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AM61
27-May-19
2000
100/1
100
USD
Fixed
6.875
114.38
115.88
3.11
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AN45
09-Mar-20
2000
100/1
100
USD
Fixed
5.500
108.88
110.38
3.36
BBB- /Baa1 /BBB
Zar Sov Capital Fund (S)
XS1113141441
24-Jun-20
500
200/1
100
USD
Fixed
3.903
100.00
101.50
3.60
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AL88
30-May-22
1000
100/1
100
USD
Fixed
5.875
112.38
113.88
3.75
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AQ75
17-Jan-24
1500
100/1
100
USD
Fixed
4.665
103.38
104.88
4.02
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AR58
16-Sep-25
2000
200/1
100
USD
Fixed
5.875
110.88
113.88
4.26
BBB- /Baa1 /BBB BBB- /(P)Baa1 /BBB
Security Name
Credit Rating S&P /Moody /Fitch
Republic Of South Africa
XS1090107159
24-Jul-26
500
100/1
100
EUR
Fixed
3.750
102.75
105.75
3.15
Republic Of South Africa
US836205AP92
08-Mar-41
750
100/1
100
USD
Fixed
6.250
115.75
118.75
4.97
BBB- /Baa1 /BBB
Republic Of South Africa
US836205AS32
24-Jul-44
1000
200/1
100
USD
Fixed
5.375
101.75
104.75
5.06
BBB- /(P)Baa1 /BBB
Republic Of Sri Lanka
USY2029SAE47
22-Jan-15
500
100/1
100
USD
Fixed
7.400
100.13
101.63
-0.21
B+ /- /BB-
Republic Of Sri Lanka
USY8137FAA67
14-Jan-19
1000
200/1
100
USD
Fixed
6.000
105.25
106.75
4.22
B+ /B1 /BB-
Republic Of Sri Lanka
USY8137FAB41
11-Apr-19
500
200/1
100
USD
Fixed
5.125
102.00
103.50
4.25
B+ /B1 /BB-
Republic Of Sri Lanka
USY2029SAF12
04-Oct-20
1000
100/1
100
USD
Fixed
6.250
105.63
107.63
4.75
B+ /B1 /BB-
Republic Of Sri Lanka
USY2029SAG94
27-Jul-21
1000
200/1
100
USD
Fixed
6.250
104.63
107.63
4.90
B+ /B1 /BB-
Republic Of Sri Lanka
USY2029SAH77
25-Jul-22
1000
200/1
100
USD
Fixed
5.875
102.38
105.38
5.02
B+ /B1 /BB-
Republic of Turkey Hazine M. (S)
XS0975124180
10-Oct-18
1250
200/1
100
USD
Fixed
4.557
104.88
105.88
2.96
- /Baa3 /BBB-
Republic Of Turkey
US900123AX87
05-Jun-20
2000
2/1
100
USD
Fixed
7.000
115.63
117.13
3.59
NR /Baa3 /BBB-
Republic Of Turkey
XS0503454166
18-May-20
2000
50/1
100
EUR
Fixed
5.125
111.50
113.00
2.57
NR /Baa3 /BBB-
Republic Of Turkey
US900123CA66
23-Mar-23
1500
200/1
100
USD
Fixed
3.250
92.88
94.38
4.05
- /Baa3 /BBB-
Republic Of Turkey
XS1057340009
11-Apr-23
1000
100/1
100
EUR
Fixed
4.125
105.75
107.25
3.13
- /Baa3 /BBB-
Republic Of Turkey
US900123CF53
22-Mar-24
2500
200/1
100
USD
Fixed
5.750
110.00
111.50
4.25
- /Baa3 /BBB-
Republic Of Turkey
US900123BG46
30-May-40
2000
100/1
100
USD
Fixed
6.750
118.50
121.50
5.22
NR /Baa3 /BBB-
Republic Of Turkey
US900123CB40
16-Apr-43
1500
200/1
100
USD
Fixed
4.875
94.88
97.88
5.02
- /Baa3 /BBB-
Republic Of Turkey (S)
XS0831353361
26-Mar-18
1500
200/1
100
USD
Fixed
2.803
98.63
100.13
2.76
NR /Baa3 /BBB-
Page 5
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Republic Of Venezuela
US922646AT10
15-Aug-18
Republic Of Zambia
XS0828779594
20-Sep-22
753
1/1
100
USD
Fixed
13.625
83.00
88.00
18.12
CCC+ /Caa1 /B
750
200/1
100
USD
Fixed
5.375
94.38
96.88
5.87
Republic Of Zambia
XS1056386714
14-Apr-24
B+ /- /B
1000
200/1
100
USD
Fixed
8.500
112.88
115.38
6.31
B+ /- /B
Sharjah Sukuk Ltd (S)
XS1106137687
State Of Qatar
XS0615235537
17-Sep-24
750
200/1
100
USD
Fixed
3.764
102.38
103.88
3.30
A /A3 /-
20-Jan-17
2000
200/1
100
USD
Fixed
3.125
104.25
105.25
0.73
AA /Aa2 /-
State Of Qatar
XS0423038875
09-Apr-19
1000
100/1
100
USD
Fixed
6.550
118.25
119.75
1.88
AA /Aa2 /-
State Of Qatar
XS0468534580
20-Jan-20
2500
100/1
100
USD
Fixed
5.250
113.13
114.63
2.26
AA /Aa2 /-
State Of Qatar
XS0615236006
20-Jan-22
2000
200/1
100
USD
Fixed
4.500
110.13
111.63
2.71
AA /Aa2 /-
State Of Qatar
XS0113419690
15-Jun-30
1400
10/1
100
USD
Fixed
9.750
162.00
164.50
4.11
AA /Aa2 /-
State Of Qatar
XS0468535637
20-Jan-40
1000
100/1
100
USD
Fixed
6.400
126.75
129.75
4.43
AA /Aa2 /-
State Of Qatar
XS0615236188
20-Jan-42
1000
200/1
100
USD
Fixed
5.750
117.38
120.38
4.45
AA /Aa2 /-
State Of Qatar (S)
XS0801656256
18-Jan-18
2000
200/1
100
USD
Fixed
2.099
101.25
102.25
1.38
AA /Aa2 /-
State Of Qatar (S)
XS0801656330
18-Jan-23
2000
200/1
100
USD
Fixed
3.241
101.25
102.75
2.86
AA /Aa2 /-
Tunisia
US066716AG65
16-Jul-19
485
200/1
100
USD
Fixed
1.686
98.38
100.38
1.60
Not Rated
Security Name
Tunisia (Banque Centrale de.)
XS0222293382
22-Jun-20
400
50/1
100
EUR
Fixed
4.500
102.75
104.75
3.55
NR /Ba3 /WD
Tunisia (Banque Centrale de.)
US066716AB78
19-Sep-27
150
1/1
100
USD
Fixed
8.250
114.75
116.75
6.33
NR /Ba3 /WD
United Rep Of Tanzania
XS0896119897
09-Mar-20
600
200/1
100
USD
FRN
6.329
106.88
109.38
4.37
Not Rated
Diversified Aabar Investments Pjsc (C)
XS0632138961
27-May-16
1250
100/100
100
EUR
Fixed
4.000
113.00
116.00
-5.65
Not Rated
Dubai Holding Comm Op
XS0285303748
01-Feb-17
500
50/50
100
GBP
Fixed
6.000
101.75
103.25
4.43
NR /WR /WD
IPIC
XS0860583672
30-Nov-15
750
200/1
100
USD
Fixed
1.750
100.50
101.50
0.35
AA /Aa2 /AA
IPIC
XS0558268628
15-Nov-15
1000
250/1
100
USD
Fixed
3.125
101.88
102.88
0.32
AA /Aa2 /AA
IPIC
XS0605558856
14-May-16
1250
100/1
100
EUR
Fixed
4.875
106.25
107.25
0.11
AA /Aa2 /AA
IPIC
XS0701035320
01-Mar-17
1500
200/1
100
USD
Fixed
3.750
105.25
106.25
1.02
AA /Aa2 /AA
IPIC
XS0860583912
30-May-18
800
100/1
100
EUR
Fixed
2.375
105.75
106.75
0.46
AA /Aa2 /AA
IPIC
XS0558268891
15-Nov-20
1500
250/1
100
USD
Fixed
5.000
112.38
113.38
2.59
AA /Aa2 /AA
IPIC
XS0605559821
14-Mar-21
1250
100/1
100
EUR
Fixed
5.875
126.88
128.38
1.21
AA /Aa2 /AA
IPIC
XS0701035676
01-Mar-22
1500
200/1
100
USD
Fixed
5.500
116.38
117.38
2.85
AA /Aa2 /AA
IPIC
XS0860584308
30-May-23
850
100/1
100
EUR
Fixed
3.625
114.38
115.38
1.68
AA /Aa2 /AA
IPIC
XS0701227075
01-Nov-41
750
200/1
100
USD
Fixed
6.875
134.25
136.25
4.53
AA /Aa2 /AA
Kuwait Projects Co
XS0457137841
17-Oct-16
500
100/1
100
USD
Fixed
8.875
111.75
113.25
1.93
BBB- /Baa3 /-
Kuwait Projects Co
XS1026105806
05-Feb-19
500
200/1
100
USD
Fixed
4.800
104.38
105.88
3.31
BBB- /Baa3 /-
Kuwait Projects Co
XS0526235535
15-Jul-20
500
100/1
100
USD
Fixed
9.375
123.75
126.75
4.07
BBB- /Baa3 /-
Page 6
Fixed Income Trading November 2, 2014
Security Name
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Mubadala
XS0613313104
20-Apr-16
750
200/1
100
USD
Fixed
3.750
103.75
104.75
0.48
AA /Aa2 /AA
Mubadala
XS0426993571
06-May-19
500
250/1
100
USD
Fixed
7.625
124.00
125.00
1.82
AA /Aa2 /AA
Mubadala
XS0619200990
20-Apr-21
750
200/1
100
USD
Fixed
5.500
116.13
117.13
2.60
AA /Aa2 /AA
Mubadala
XS1062852253
28-Apr-22
750
200/1
100
USD
Fixed
3.250
101.88
102.88
2.82
AA /Aa2 /AA
Mumtalakat
XS0521476118
30-Jun-15
750
100/1
100
USD
Fixed
5.000
101.50
103.00
0.41
BBB /- /BBB
Financial Institutions Abu Dhabi Comm. Bk. (S)
XS0708308845
22-Nov-16
500
200/1
100
USD
Fixed
4.071
105.13
106.13
1.04
A /A1u /A+
Abu Dhabi Comm. Bk.
XS0897453907
06-Mar-18
750
200/1
100
USD
Fixed
2.500
100.13
101.63
1.99
A /A1u /A+
Abu Dhabi Comm. Bk.
XS1040257062
04-Mar-19
750
200/1
100
USD
Fixed
3.000
101.13
102.63
2.36
A /NR /A+
Abu Dhabi Comm. Bk.
XS1110651012
16-Sep-19
600
200/1
100
USD
Fixed
2.750
99.75
101.25
2.48
A /NR /A+
Abu Dhabi Comm. Bk.
XS0897453493
06-Mar-23
750
200/1
100
USD
Fixed
4.500
101.75
103.25
4.04
A- /NR /A
Abu Dhabi Comm. Bk.
AU3CB0221414
28-May-19
250
10/10
100
AUD
Fixed
4.750
99.88
101.38
4.41
A /- /A+
Abu Dhabi Islm. Bank (S)
XS0556042405
04-Nov-15
750
100/1
100
USD
Fixed
3.745
102.00
103.50
0.24
- /A2 /A+
Abu Dhabi Islm. Bank (S)
XS0711035286
30-Nov-16
500
200/1
100
USD
Fixed
3.780
104.00
105.50
1.09
- /A2 /A+
Access Bank Plc
XS0807677496
25-Jul-17
350
200/1
100
USD
Fixed
7.250
99.38
101.38
6.68
BB- /- /B
Access Bank Plc
XS1078208334
24-Jun-21
400
200/1
100
USD
Variable
9.250
100.75
102.75
8.51
B /- /B-
ADIB Tier 1 (S)
XS0851081660
Perpetual
1000
200/1
100
USD
Variable
6.375
103.00
104.50
5.10
Not Rated
African Bank Limited
XS0638008051
15-Jun-16
350
200/1
100
USD
Flat Trading
6.000
59.25
79.25
24.06
- /Caa2 /-
African Bank Limited
XS0751016865
24-Feb-17
350
200/1
100
USD
Flat Trading
8.125
59.88
79.88
20.35
- /Caa2 /-
African Export-Import Ba
XS0650262875
27-Jul-16
500
200/1
100
USD
Fixed
5.750
103.13
105.13
2.69
NR /Baa2 /BBB-
African Export-Import Ba
XS0938043766
04-Jun-18
500
200/1
100
USD
Fixed
3.875
97.75
99.75
3.95
NR /Baa2 /BBB-
African Export-Import Ba
XS1091688660
29-Jul-19
500
200/1
100
USD
Fixed
4.750
99.13
101.13
4.48
- /Baa2 /BBB-
AK Lease
XS0914394688
17-Apr-18
250
200/1
100
USD
Fixed
4.125
98.00
100.00
4.12
- /- /BBB-
Akbank
USM0300LAA46
22-Jul-15
1000
100/1
100
USD
Fixed
5.125
101.00
103.00
0.90
- /Baa3 /BBB-
Akbank
USM0300LAC02
09-Mar-18
500
150/1
100
USD
Fixed
6.500
106.63
109.63
3.43
- /Baa3 /BBB-
Akbank
USM0375YAK49
24-Oct-22
500
150/1
100
USD
Fixed
5.000
98.25
101.25
4.81
- /Baa3 /BBB-
Akbank
USM0375YAJ75
24-Oct-17
500
150/1
100
USD
Fixed
3.875
100.00
102.00
3.16
- /Baa3 /BBB-
Albaraka Turk Katilim Ba (S)
XS1082151868
30-Jun-19
350
200/1
100
USD
Fixed
6.250
99.88
101.88
5.78
BB /- /-
Albaraka Turk Katilim (S)
XS0927211754
07-May-23
200
200/1
100
USD
Fixed
7.750
98.10
100.1
7.72
Not Rated
Al Hilal Bank (S)
XS0977488294
08-Oct-18
500
200/1
100
USD
Fixed
3.267
102.50
104.50
2.07
- /A1 /A+
Al Hilal Bank Tier 1 (S)
XS1073217561
Perpetual
500
200/1
100
USD
Variable
5.500
100.25
102.25
4.95
Not Rated
Alternatifbank As
XS1089556358
22-Jul-19
250
200/1
100
USD
Fixed
3.125
98.50
100.50
3.01
- /- /A
Page 7
Fixed Income Trading November 2, 2014
Security Name
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Axis Bank/Dubai
XS0463466028
30-Sep-15
350
100/1
100
USD
Fixed
5.250
101.63
103.63
1.21
BBB- /Baa2 /BBB-
Axis Bank/Dubai
US05463EAA64
02-May-16
500
100/1
100
USD
Fixed
4.750
102.38
104.38
1.76
BBB- /Baa2 /BBB-
Axis Bank/Dubai
US05463EAB48
05-Sep-17
750
200/1
100
USD
Fixed
5.125
106.00
107.50
2.37
BBB- /Baa2 /BBB-
Banco Daycoval Sa
XS1046809171
19-Mar-19
500
150/1
100
USD
Fixed
5.750
101.50
103.50
4.85
BB+ /Baa3 /BBB-
Bank Asya Tier 2 (S)
XS0907295942
28-Mar-23
250
200/1
100
USD
Variable
7.500
57.00
63.00
24.02
- /Ca /-
Bank Muscat Saog
XS0908549685
26-Mar-18
500
200/1
100
USD
Fixed
2.500
99.50
101.50
2.04
A- /A1 /A-
Bank of Bahrain & Kuwait
XS0553706135
28-Oct-15
500
100/1
100
USD
Fixed
4.500
101.75
103.25
1.17
- /Baa2 /BBB
Bank Of Baroda/London
XS0483734298
07-Oct-15
350
100/1
100
USD
Fixed
4.750
101.75
103.25
1.21
- /Baa3 /BBB-
Bank Of Baroda/London
XS0594008517
24-Aug-16
500
200/1
100
USD
Fixed
5.000
104.00
105.50
1.89
- /Baa3 /BBB-
Bank Of Baroda/London
USY04342AA28
23-Jul-19
1000
200/1
100
USD
Fixed
4.875
105.00
106.50
3.37
- /Baa3 /BBB-
Bank Of Baroda/London
XS0301888615
25-May-22
300
100/1
100
USD
Variable
6.625
102.50
105.00
4.53
NR /Ba2 /B+
Bank Of Ceylon
USY0646EAR37
03-May-17
500
200/1
100
USD
Fixed
6.875
104.25
106.75
4.00
- /B1 /BB-
Bank Of Ceylon
XS0914798268
16-Apr-18
500
200/1
100
USD
Fixed
5.325
100.00
102.50
4.53
- /- /BB-
Bank Of India London
XS0498932721
30-Sep-15
750
100/1
100
USD
Fixed
4.750
101.75
103.25
1.13
BBB- /Baa3 /-
Bank Of India London
USY06865AA04
21-Sep-18
500
200/1
100
USD
Fixed
3.625
100.13
102.63
2.90
BBB- /Baa3 /-
Bank Of India London
XS0592238876
16-Feb-21
500
200/1
100
USD
Fixed
6.250
110.25
112.25
4.02
BBB- /Baa3 /-
Bank Saudi Fransi (S)
XS0784910431
22-May-17
750
200/1
100
USD
Fixed
2.947
101.75
103.75
1.44
A /- /A
Bawag P.S.K.
XS0987169637
30-Oct-23
300
100/100
100
EUR
Fixed
8.125
117.75
118.75
5.43
- /Ba2 /-
Banque Morocaine Du Comm
XS0998123037
27-Nov-18
300
200/1
100
USD
Fixed
6.250
103.75
104.75
4.94
- /Ba1 /-
Burgan Bank
XS0545106592
29-Sep-20
400
100/1
100
USD
Fixed
7.875
113.63
115.63
4.80
BBB /Ba1 /-
Burgan Tier 1 Financing
XS1106874198
Perpetual
500
200/1
100
USD
Variable
7.250
98.38
100.38
7.15
Not Rated
Canara Bank London
XS0595649608
09-Sep-16
350
200/1
100
USD
Fixed
5.125
102.88
105.88
1.87
- /Baa3 /BBB-
Cbq Finance Ltd
XS1079720212
24-Jun-19
750
200/1
100
USD
Fixed
2.875
100.75
101.75
2.47
A- /A1 /-
Charming Light Investmen
XS1104029027
03-Sep-19
600
200/1
100
USD
Fixed
3.750
97.88
99.88
3.78
- /Baa1 /A-
Commercial Bank Of Dubai
XS0933999863
21-May-18
500
200/1
100
USD
Fixed
3.375
101.50
103.00
2.49
- /Baa1 /A-
Commercial Bank of Qatar
XS0466365110
18-Nov-14
1000
100/1
100
USD
Fixed
5.000
99.13
100.63
-10.88
A- /A1 /-
Commercial Bank of Qatar
XS0771860003
11-Apr-17
500
200/1
100
USD
Fixed
3.375
102.88
104.88
1.33
A- /A1 /-
Commercial Bank of Qatar
XS0466365383
18-Nov-19
600
100/1
100
USD
Fixed
7.500
119.13
121.13
2.96
BBB+ /Baa1 /-
Credit Bank of Moscow
XS0924078453
13-Nov-18
500
200/1
100
USD
Fixed
8.700
87.00
90.00
11.90
- /NR /BB-
Credit Bank of Moscow
XS0879105558
01-Feb-18
500
200/1
100
USD
Fixed
7.700
96.38
99.38
7.91
BB- /B1 /BB
Dib Tier 1 Sukuk Ltd (S)
XS0902330769
Perpetual
1000
200/1
100
USD
Variable
6.250
101.25
103.25
5.40
Not Rated
Diamond Bank Plc
XS1069387923
21-May-19
200
200/1
100
USD
Fixed
8.750
97.38
99.88
8.78
B /- /B
Doha Bank
XS0757032445
14-Mar-17
500
200/1
100
USD
Fixed
3.500
103.25
104.75
1.45
A- /A2 /A
Dubai Islamic Bank (S)
XS0787130540
30-May-17
500
200/1
100
USD
Fixed
4.752
105.38
107.38
1.80
- /Baa1 /A
Page 8
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Eastern & Southern Afric
XS0998947500
06-Dec-18
300
200/1
100
USD
Fixed
6.375
102.50
104.50
5.14
- /Ba1 /BB
Eastern & Southern Afric
XS0998947500
06-Dec-18
300
200/1
100
USD
Fixed
6.375
102.50
104.50
5.14
- /Ba1 /BB
Ebn Finance Co Bv
XS1093771639
14-Aug-21
250
200/1
100
USD
Variable
8.750
99.88
101.88
8.26
B- /- /-
Emirates Bank
XS0272489187
31-Oct-16
83
100/1
100
USD
FRN
1.433
93.75
98.75
2.07
NR /Baa3 /A
Emirates Bank
XS0765257141
28-Mar-17
1000
200/1
100
USD
Fixed
4.625
105.00
106.50
1.84
- /Baa1 /A+
Emirates Islamic Bank (S)
XS0731642491
18-Jan-17
500
200/1
100
USD
Fixed
4.718
105.25
106.75
1.59
- /Baa1 /A+
Emirates Islamic Bank (S)
XS0803231827
11-Jan-18
500
200/1
100
USD
Fixed
4.147
104.50
106.00
2.19
- /Baa1 /A+
Emirates NBD
XS0910935021
28-Mar-23
750
200/1
100
USD
Variable
4.875
103.13
104.63
3.42
- /NR /A
Emirates NBD Tier 1
XS0935833292
Perpetual
1000
200/1
100
USD
Variable
5.750
96.63
98.63
6.10
Not Rated
Security Name
Emirates Nbd 2014 Tier 1
XS1111114135
Perpetual
500
200/1
100
USD
Variable
6.375
99.88
101.88
5.99
Not Rated
Emirates Nbd Pjsc
AU3CB0220861
08-May-19
400
10/10
100
AUD
Fixed
5.750
103.00
105.00
4.51
- /Baa1 /A+
Export Credit Bank Of Tu
XS1028943089
23-Sep-21
500
200/1
100
USD
Fixed
5.000
99.75
101.75
4.70
BB+ /Baa3 /BBB-
Export-Import Bk India
XS0813393849
07-Aug-17
500
200/1
100
USD
Fixed
4.000
103.00
105.00
2.12
BBB- /Baa3 /-
Export-Import Bk India
XS1050464996
02-Oct-19
500
200/1
100
USD
Fixed
3.875
101.63
103.63
3.07
BBB- /Baa3 /-
Export-Import Bk India
XS0872917660
14-Jan-23
750
200/1
100
USD
Fixed
4.000
99.38
100.88
3.87
BBB- /Baa3 /-
First Bank of Nigeria
XS0957590689
07-Aug-20
300
200/1
100
USD
Variable
8.250
98.38
101.38
7.81
B /- /B-
First Bank of Nigeria
XS1090370104
23-Jul-21
450
200/1
100
USD
Variable
8.000
97.00
99.50
8.12
B /- /B-
Fidelity Bank Plc
XS0928527257
09-May-18
300
200/1
100
USD
Fixed
6.875
93.25
95.75
8.29
B /- /B
Finansbank As
XS0849733273
01-Nov-17
350
200/1
100
USD
Fixed
5.150
100.63
103.63
3.85
- /Ba2 /BBB-
Finansbank As
USM4R36CAA80
11-May-16
500
200/1
100
USD
Fixed
5.500
101.13
104.13
2.70
- /Ba2 /BBB-
Finansbank As
XS1063442484
30-Apr-19
500
200/1
100
USD
Fixed
6.250
102.75
105.75
4.81
- /Ba2 /BBB-
First Gulf Bank
XS0840538994
09-Oct-17
650
200/1
100
USD
Fixed
2.862
102.25
103.25
1.72
- /A2 /A+
First Gulf Bank (S)
XS0654587996
02-Aug-16
650
200/1
100
USD
Fixed
3.797
103.63
105.13
0.83
- /A2 /A+
First Gulf Bank (S)
XS0731930797
18-Jan-17
500
200/1
100
USD
Fixed
4.046
104.75
106.25
1.17
- /A2 /A+
Firstrand Bank Ltd
XS0635404477
09-Jun-16
500
200/1
100
USD
Fixed
4.375
102.88
104.38
1.59
BBB- /Baa1 /BBB
Gazprombk (Gpb Finance)
XS0779213460
03-May-19
500
200/1
100
USD
Fixed
7.250
99.13
102.13
6.69
BB+ /B1 /BB+
Gazprombk (Gpb Finance)
XS1040726587
05-Sep-19
750
200/1
100
USD
Fixed
4.960
92.75
95.75
5.98
BBB- /- /BBB-
Gazprom (Gaz Capital Sa)
XS1038646078
26-Feb-21
750
100/1
100
EUR
Fixed
3.600
94.13
97.13
4.12
BBB- /Baa1 /BBB
Gazprom (Gaz Capital Sa)
XS0805570354
19-Jul-22
1000
200/1
100
USD
Fixed
4.950
93.50
96.50
5.51
BBB- /Baa1 /BBB
Gazprombk (Gpb Finance)
XS0848137708
Perpetual
1000
200/1
100
USD
Variable
7.875
93.63
96.63
9.02
- /NR /-
GIC Funding Ltd
XS0859236092
28-Nov-17
500
200/1
100
USD
Fixed
3.250
101.88
103.38
2.11
- /A2 /-
GIC Funding Ltd
CH0198380237
16-Nov-15
300
5/5
100
CHF
Fixed
2.750
101.13
102.63
0.20
- /A2 /-
Page 9
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Guaranty Trust Bank
XS0628652884
19-May-16
500
200/1
100
USD
Fixed
7.500
103.25
105.25
3.95
BB- /- /B+
Guaranty Trust Bank
XS0992162635
08-Nov-18
400
200/1
100
USD
Fixed
6.000
99.00
101.00
5.72
BB- /- /B+
Gulf International Bank
XS0863496633
11-Dec-17
500
200/1
100
USD
Fixed
2.375
99.50
101.50
1.87
BBB+ /A3 /A
Haitong Intl Fin 2014
XS1107172535
11-Sep-19
600
200/1
100
USD
Fixed
3.990
99.00
101.00
3.76
BBB /- /-
Hdfc Bank Ltd/Bah
XS0897434949
06-Mar-18
500
200/1
100
USD
Fixed
3.000
99.13
101.13
2.64
BBB- /Baa2 /-
Huarong Finance Co Ltd
XS1086081707
17-Jul-17
300
200/1
100
USD
Fixed
3.000
99.38
100.88
2.66
BBB+ /Baa1 /A
Huarong Finance Co Ltd
XS1088292815
17-Jul-19
1200
200/1
100
USD
Fixed
4.000
99.63
101.13
3.73
BBB+ /Baa1 /A
Icd Sukuk Co Ltd (S)
XS1069869839
21-May-20
700
200/1
100
USD
Fixed
3.508
97.63
99.63
3.58
Not Rated
Icd Funding Ltd
XS1069870415
21-May-24
300
200/1
100
USD
Fixed
4.625
99.38
101.38
4.45
Not Rated
Icici Bank Ltd/Dubai
US45112FAC05
21-Feb-18
1000
200/1
100
USD
Fixed
4.700
104.63
106.13
2.74
BBB- /Baa2 /BBB-
Icici Bank Ltd/Dubai
US45112FAE60
22-May-19
1000
200/1
100
USD
Fixed
4.800
105.63
107.13
3.11
BBB- /Baa2 /BBB-
Icici Bank Ltd/Dubai
US45112FAG19
18-Mar-20
500
200/1
100
USD
Fixed
3.500
99.75
101.25
3.24
BBB- /Baa2 /BBB-
IDBI Bank
XS0832492267
26-Mar-18
500
200/1
100
USD
Fixed
4.375
101.50
103.00
3.43
BB+ /Baa3 /BBB-
IDBI Bank
XS0908349912
25-Jan-19
500
200/1
100
USD
Fixed
3.750
98.75
100.25
3.68
BB+ /Baa3 /BBB-
IDBI Bank
XS1048474396
25-Sep-19
300
200/1
100
USD
Fixed
5.000
103.50
105.00
3.87
BB+ /Baa3 /BBB-
IDBI Bank
XS1128264758
23-Apr-20
350
200/1
100
USD
Fixed
4.125
99.25
100.75
3.97
- /Baa3e /BBB-
Indian Overseas Bank/Hk
XS0615783239
19-Oct-16
500
200/1
100
USD
Fixed
5.000
104.63
105.63
2.05
BBB- /(P)Baa3 /-
Indian Overseas Bank/Hk
XS0773015853
21-Feb-18
500
200/1
100
USD
Fixed
4.625
103.50
105.00
3.02
BBB- /Baa3 /-
Int. Bank of Azerbaijan
XS1076436218
11-Jun-19
500
200/1
100
USD
Fixed
5.625
98.13
100.13
5.59
- /Ba3 /BB
Investcorp Sa
XS0847495248
01-Nov-17
250
200/1
100
USD
Fixed
8.250
107.25
109.75
4.72
- /Ba2 /BB
Security Name
Investec Bank Ltd
XS0807715098
24-Jul-17
300
200/1
100
USD
Fixed
3.875
100.25
102.25
3.01
- /Baa1 /BBB-
Itau Unibanco Hldg Sa/Ky
US46556MAB81
22-Jan-21
1250
100/1
100
USD
Fixed
5.750
105.38
106.88
4.47
- /Baa3 /BBB
Kuveyt Turk (S)
XS0698260758
31-Oct-16
350
200/1
100
USD
Fixed
5.875
104.50
106.00
2.75
- /- /BBB
Kt Kira Sert Varlik (S)
XS1079236169
26-Jun-19
500
200/1
100
USD
Fixed
5.162
102.63
104.13
4.17
- /- /BBB
Mashreqbank
XS0283928264
24-Jan-17
354
100/100
100
USD
FRN
1.359
93.38
97.38
2.56
BBB /Ba2 /A-
National Bank of Egypt
XS0531270378
05-Aug-15
600
100/1
100
USD
Fixed
5.250
98.00
103.00
1.23
- /Caa1 /B-
National Bk Of Abu Dhabi
XS0497249341
25-Mar-15
750
100/1
100
USD
Fixed
4.250
100.38
101.88
-0.54
AA- /Aa3 /AA-
National Bk Of Abu Dhabi
XS0763531406
27-Mar-17
750
200/1
100
USD
Fixed
3.250
103.75
104.75
1.23
AA- /Aa3 /AA-
National Bk Of Abu Dhabi
AU3CB0206068
07-Mar-18
300
10/10
100
AUD
Fixed
5.000
102.50
103.50
3.87
AA- /Aa3 /AA-
National Bk Of Abu Dhabi
AU3CB0219392
19-Mar-19
400
10/10
100
AUD
Fixed
4.750
101.63
102.63
4.09
AA- /Aa3 /AA-
National Bk Of Abu Dhabi
XS0815939656
13-Aug-19
750
200/1
100
USD
Fixed
3.000
102.25
103.25
2.28
AA- /Aa3 /AA-
National Savings Bank
USY62526AA99
18-Sep-18
750
200/1
100
USD
Fixed
8.875
112.38
114.38
4.76
B+ /- /BB-
Nile Finance Ltd
XS0531270378
05-Aug-15
600
100/1
100
USD
Fixed
5.250
100.88
102.88
1.39
- /Caa1 /B-
Qatar Islamic Bank (S)
XS0545395765
07-Oct-15
750
100/1
100
USD
Fixed
3.856
102.38
103.38
0.20
- /- /A
Page 10
Fixed Income Trading November 2, 2014
Security Name
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Qatar Islamic Bank (S)
XS0841096497
10-Oct-17
750
200/1
100
USD
Fixed
2.500
101.00
102.50
1.62
- /- /A
Qatar National Bank
XS0559355135
16-Nov-15
1500
200/1
100
USD
Fixed
3.125
101.88
102.88
0.33
A+ /Aa3 /A+
Qatar National Bank
XS0748305017
22-Feb-17
1000
200/1
100
USD
Fixed
3.375
103.25
104.75
1.27
A+ /Aa3 /A+
Qatar National Bank
XS0854469599
14-Feb-18
1000
200/1
100
USD
Fixed
2.125
99.25
100.75
1.89
A+ /Aa3 /A+
QIIB Sukuk Funding Ltd (S)
XS0843912808
18-Oct-17
700
200/1
100
USD
Fixed
2.688
101.88
102.88
1.68
- /A3 /A
Rakfunding Cayman Ltd
XS1078355986
24-Jun-19
500
200/1
100
USD
Fixed
3.250
100.88
102.38
2.70
- /Baa1 /BBB+
Russian Agricultural Bank
XS0796426228
27-Dec-17
1300
200/1
100
USD
Fixed
5.298
96.50
98.50
5.82
- /Ba1 /BBB-
Saudi British Bank
XS0559277743
12-Nov-15
600
100/100
100
USD
Fixed
3.000
101.88
102.88
0.18
A /- /A
Sberbank (Sb Cap Sa)
XS0799357354
28-Jun-19
1000
200/1
100
USD
Fixed
5.180
96.88
98.88
5.45
- /Baa2 /BBB
Sberbank (Sb Cap Sa)
XS0897427570
04-Mar-18
550
300/1
100
TRY
Fixed
7.400
84.63
86.63
12.41
- /Baa2 /BBB
Sberbank (Sb Cap Sa)
XS0848530977
29-Oct-22
2000
200/1
100
USD
Fixed
5.125
88.88
90.88
6.61
- /Ba1 /BBB-
Sberbank (Sb Cap Sa)
XS0935311240
23-May-23
1000
200/1
100
USD
Fixed
5.250
87.13
89.13
6.96
- /- /BBB-
Sberbank (Sb Cap Sa)
XS1032750165
26-Feb-24
1000
200/1
100
USD
Variable
5.500
89.13
91.13
7.97
- /- /BBB-
SIB Sukuk Co. Ltd (S)
XS0625554836
25-May-16
400
200/1
100
USD
Fixed
4.715
104.88
105.88
0.91
BBB+ /- /BBB+
SIB Sukuk Co. Ltd (S)
XS0916902769
16-Apr-18
500
200/1
100
USD
Fixed
2.950
101.88
102.88
2.08
BBB+ /- /BBB+
State Bank India/London
USU85528AB04
01-Aug-17
1250
200/1
100
USD
Fixed
4.125
103.25
104.75
2.32
BBB- /Baa3 /BBB-
State Bank India/London
USY81636AC94
18-Apr-18
1000
200/1
100
USD
Fixed
3.250
100.38
101.88
2.68
BBB- /Baa3 /BBB-
State Bank India/London
USY81647AA02
17-Apr-19
750
200/1
100
USD
Fixed
3.622
101.25
102.75
2.96
BBB- /Baa3 /BBB-
State Bank India/London
USY81647AB84
17-Apr-24
500
200/1
100
USD
Fixed
4.875
103.63
105.13
4.21
BBB- /Baa3 /BBB-
State Bank Of India
XS0287244627
Perpetual
400
100/1
100
USD
Variable
6.439
97.75
100.75
6.11
BB /B1 /B
State Bank Of India
XS0307996586
Perpetual
225
100/1
100
USD
Variable
7.140
99.63
102.63
6.05
BB /B1 /-
Syndicate Bank/London
XS0620328392
06-Nov-16
500
200/1
100
USD
Fixed
4.750
102.25
105.25
2.06
BBB- /Baa3 /-
Syndicate Bank
XS0841358103
12-Apr-18
500
200/1
100
USD
Fixed
4.125
101.63
103.13
3.16
BBB- /Baa3 /-
Tamweel (S)
XS0734046815
18-Jan-17
300
200/1
100
USD
Fixed
5.154
105.25
107.25
1.79
- /Baa1 /A
Tc Ziraat Bankasi As
XS1083936028
03-Jul-19
750
200/1
100
USD
Fixed
4.250
97.63
99.63
4.34
- /Baa3 /BBB-
Turkiye Finans Varlik Kiralama (S)
XS0922143382
02-May-18
500
200/1
100
USD
Fixed
3.950
98.25
100.25
3.87
- /- /BBB
Turkiye Finans Varlik Kiralama (S)
XS1057852912
24-Apr-19
500
200/1
100
USD
Fixed
5.375
101.63
103.63
4.47
- /- /BBB
Turkiye Garanti Bankasi
USM8931TAE93
13-Sep-17
600
200/1
100
USD
Fixed
4.000
100.13
102.13
3.21
- /Baa3 /BBB-
Turkiye Garanti Bankasi
XS1057541838
17-Oct-19
750
200/1
100
USD
Fixed
4.750
100.38
102.38
4.21
- /Baa3 /BBB-
Turkiye Garanti Bankasi
USM8931TAF68
13-Sep-22
750
200/1
100
USD
Fixed
5.250
100.38
102.38
4.88
- /Baa3 /BBB-
Turkiye Garanti Bankasi
XS0935802495
23-May-18
175
200/1
100
AUD
Fixed
5.500
97.63
99.63
5.61
- /Baa3 /BBB-
Turkiye Halk Bankasi
XS0806482948
19-Jul-17
750
200/1
100
USD
Fixed
4.875
101.75
103.75
3.41
- /Baa3 /BBB-
Turkiye Halk Bankasi As
XS1069383856
04-Jun-19
500
200/1
100
USD
Fixed
4.750
99.13
101.13
4.47
- /Baa3 /BBB-
Turkiye Halk Bankasi
XS0882347072
05-Feb-20
750
200/1
100
USD
Fixed
3.875
94.38
96.38
4.66
- /Baa3 /BBB-
Page 11
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Turkiye Is Bankasi A.S
XS0852697712
07-Nov-17
500
200/1
100
USD
Fixed
Turkiye Is Bankasi A.S
XS0982644774
21-Apr-19
500
200/1
100
USD
Fixed
3.875
99.25
101.75
3.26
- /Baa3 /BBB-
5.500
102.13
104.63
4.35
Turkiye Is Bankasi A.S
XS1079527211
25-Jun-21
750
200/1
100
USD
- /Baa3 /BBB-
Fixed
5.000
98.50
100.50
4.91
- /Baa3 /BBB-
Turkiye Is Bankasi A.S
XS0847042024
24-Oct-22
1000
200/1
100
Turkiye Sinai Kalkinma B
XS1117601796
30-Oct-19
350
200/1
100
USD
Fixed
6.000
98.13
100.63
5.90
- /Ba2 /BB+
USD
Fixed
5.375
100.00
102.00
4.92
- /Baa3 /BBB-
Turkiye Vakiflar Bankasi
XS0916347759
15-Apr-18
600
200/1
100
USD
Fixed
3.750
97.13
99.13
4.02
- /Baa3 /BBB-
Turkiye Vakiflar Bankasi
XS0987355939
31-Oct-18
500
Turkiye Vakiflar Bankasi
XS1077629225
17-Jun-19
500
200/1
100
USD
Fixed
5.000
100.75
102.75
4.24
- /Baa3 /BBB-
100/1
100
EUR
Fixed
3.500
98.38
100.38
3.41
Turkiye Vakiflar Bankasi
XS0849728190
01-Nov-22
- /Baa3 /BBB-
900
200/1
100
USD
Fixed
6.000
96.88
98.88
6.18
- /Ba2 /BB+
Union Bank Of India Hk
XS0819566182
Union Bank Of India Hk
XS0923436264
22-Aug-17
350
200/1
100
USD
Fixed
4.625
103.63
105.13
2.71
BBB- /Baa3 /-
25-Oct-18
350
200/1
100
USD
Fixed
3.625
100.50
102.00
3.09
Union Bank Of India Hk
XS1062051161
BBB- /Baa3 /-
28-Oct-19
350
200/1
100
USD
Fixed
4.500
102.38
103.88
3.64
BBB- /Baa3 /-
Vnesheconombank(Veb) VTB Bank
XS0524610812
09-Jul-20
1600
100/1
100
USD
Fixed
6.902
100.25
103.25
6.21
BBB- /- /BBB
XS0842078536
17-Oct-22
1500
200/1
100
USD
Fixed
6.950
94.00
97.00
7.46
BB+ /Ba2 /WD
VTB Bank Yapi Ve Kredi Bankasi As
XS0772509484
12-Apr-17
2000
200/1
100
USD
Fixed
6.000
98.50
101.50
5.33
- /Baa3 /WD
XS0994815016
03-Dec-18
500
200/1
100
USD
Fixed
5.250
102.00
103.50
4.30
- /Baa3 /BBB
Yapi Ve Kredi Bankasi As
XS1028938915
22-Oct-19
500
200/1
100
USD
Fixed
5.125
100.25
101.75
4.73
- /Baa3 /BBB
Yapi Ve Kredi Bankasi
XS0874840688
22-Jan-20
500
200/1
100
USD
Fixed
4.000
95.13
96.63
4.74
- /Baa3 /BBB
Yapi Ve Kredi Bankasi
XS0861979440
06-Dec-22
1000
200/1
100
USD
Fixed
5.500
94.75
96.25
6.09
- /Ba2 /BBB-
Zenith Bank Plc
XS1057929645
22-Apr-19
500
200/1
100
USD
Fixed
6.250
97.88
99.88
6.28
BB- /- /B+
Security Name
Real Estate / Tourism Aldar Sukuk (S)
XS0993959583
03-Dec-18
750
200/1
100
USD
Fixed
4.348
103.63
105.13
3.00
BB+ /Ba2 /-
China Os Grand Ocean Fin
XS0996662853
23-Jan-19
400
200/1
100
USD
Fixed
5.125
101.38
102.88
4.37
BBB- /Baa2 /BBB
Coca-Cola Icecek Uretim
XS0975576165
01-Oct-18
500
200/1
100
USD
Fixed
4.750
105.38
106.88
2.88
- /Baa3 /BBB
Country Garden Hldg Co
USG24524AH67
04-Apr-21
750
200/1
100
USD
Fixed
7.250
97.88
99.38
7.37
BB+ /Ba2 /-
Country Garden Hldg Co
USG24524AG84
10-Jan-23
750
200/1
100
USD
Fixed
7.500
97.50
99.00
7.66
BB+ /Ba2 /-
Damac (S)
XS1054932154
09-Apr-19
650
200/1
100
USD
Fixed
4.970
94.63
96.13
5.98
BB /- /-
Dar Al-Arkan Internation (S)
XS0485326754
18-Feb-15
450
100/1
100
USD
Fixed
10.750
100.00
102.00
3.67
B+ /WR /-
Dar Al-Arkan Sukuk Co Lt (S)
XS0997146203
25-Nov-16
300
200/1
100
USD
Fixed
5.750
98.75
100.75
5.36
B+ /- /-
Dar Al-Arkan Sukuk Co Lt (S)
XS0937237831
24-May-18
450
200/1
100
USD
Fixed
5.750
97.50
99.50
5.91
B+ /- /-
Dar Al-Arkan Sukuk Co Lt (S)
XS1072498006
28-May-19
400
200/1
100
USD
Fixed
6.500
98.75
100.75
6.31
B+ /- /-
Dip Sukuk Ltd (S)
XS1035007530
20-Feb-19
300
200/1
100
USD
Fixed
4.291
100.25
102.25
3.72
BB+ /- /-
Edcon Pty Ltd
XS0596919026
01-Mar-18
250
150/1
100
USD
Fixed
9.500
80.25
83.25
16.20
B- /B3 /-
Edcon Pty Ltd
XS0888936118
01-Mar-18
300
100/1
100
EUR
Fixed
9.500
80.88
83.88
15.92
B- /B3 /-
Page 12
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Edcon Pty Ltd
XS0596918135
01-Mar-18
317
100/1
100
EUR
Edcon Holdings Pty Ltd
XS0982713173
30-Jun-19
425
100/1
100
EUR
Fixed
9.500
80.88
83.88
15.92
B- /B3 /-
Fixed
13.375
46.13
51.13
35.53
CCC- /Caa2 /-
Emaar (S)
XS0586840588
03-Aug-16
500
200/1
100
USD
Fixed
8.500
110.63
112.63
1.17
BBB- /Ba1 /-
Emaar (S)
XS0805885349
18-Jul-19
500
200/1
Emaar Mall Group Sukuk (S)
XS1075401726
18-Jun-24
750
200/1
100
USD
Fixed
6.400
112.75
114.75
3.01
BBB- /Ba1 /-
100
USD
Fixed
4.564
102.13
103.63
4.10
BBB- /Baa2 /-
Franshion Brilliant Ltd
XS1038803190
19-Mar-19
500
200/1
100
USD
Fixed
5.750
102.38
104.38
4.63
BBB- /Ba1 /BBB-
Golden Eagle Retail Grou
USG3958RAB53
21-May-23
Jafz Sukuk Ltd (S)
XS0794821453
19-Jun-19
400
200/1
100
USD
Fixed
4.625
90.50
92.50
5.75
BBB- /Baa3 /BBB-
650
200/1
100
USD
Fixed
7.000
113.50
116.00
3.25
Maf Global Securities
XS0800825845
- /Ba1 /BB-
05-Jul-19
500
200/1
100
USD
Fixed
5.250
107.63
109.63
3.02
BBB /- /BBB
Maf (S) Maf Global Securities
XS0742399198
07-Feb-17
400
200/1
100
USD
Fixed
5.850
107.50
109.50
1.55
BBB /- /BBB
XS1064799841
07-May-24
500
200/1
100
USD
Fixed
4.750
102.13
103.63
4.28
BBB /- /BBB
Maf Global Securities
XS0939678792
Perpetual
500
200/1
100
USD
Variable
7.125
108.75
110.75
4.17
BB+ /- /BB+
Marfrig Holding Europe B
USN54468AC22
20-Sep-21
51
200/1
100
USD
Fixed
11.250
110.88
113.38
7.75
B+ /B2 /B
Nakheel Sukuk (S)
XS0624017371
25-Aug-16
4390
500/10
100
AED
Fixed
10.000
109.13
111.13
3.59
Not Rated
Qatari Diar
XS0527351570
21-Jul-15
1000
100/1
100
USD
Fixed
3.500
101.00
102.50
0.00
AA /Aa2 /-
Qatari Diar
XS0527351653
21-Jul-20
2500
100/1
100
USD
Fixed
5.000
111.75
113.25
2.50
AA /Aa2 /-
Shimao Ppty Hldng Ltd
XS0872804207
14-Jan-20
800
200/1
100
USD
Fixed
6.625
98.25
101.25
6.28
BB- /Ba3 /BB+
Shimao Ppty Hldng Ltd
XS1013209017
22-Jan-21
600
200/1
100
USD
Fixed
8.125
104.25
106.25
6.68
BB- /Ba3 /BB+
Sino Ocean Lnd Trs Fin I
XS1089807025
30-Jul-19
500
200/1
100
USD
Fixed
4.625
98.50
100.50
4.51
BBB- /Baa3 /BBB-
Sino Ocean Lnd Trs Fin I
XS1090864528
30-Jul-24
700
200/1
100
USD
Fixed
6.000
100.13
102.13
5.71
BBB- /Baa3 /BBBB+ /B1 /BB-
Security Name
Credit Rating S&P /Moody /Fitch
Sunac China Holdings Ltd
XS0909370651
05-Apr-18
500
200/1
100
USD
Fixed
9.375
104.00
105.50
7.52
Vrg Linhas Aereas Sa
USP98079AB59
12-Feb-23
35
200/1
100
USD
Fixed
10.750
105.38
107.38
9.17
B- /- /B-
Xinyuan Real Estate
XS0998964935
06-Jun-19
200
200/1
100
USD
Fixed
13.000
95.13
96.63
14.01
B+ /- /B+
Telecommunications / IT Bahrain Telecom.
XS0927183441
01-May-20
519
200/1
100
USD
Fixed
4.250
99.38
100.88
4.07
BB+ /- /BBB-
Banglalink Digital Comm
USY0629LAA53
06-May-19
300
200/1
100
USD
Fixed
8.625
103.88
105.88
7.08
B+ /B1 /-
Bharti Airtel Internatio
XS1028954953
20-May-21
750
100/1
100
EUR
Fixed
3.375
105.13
106.63
2.27
BBB- /Baa3 /BBB-
Bharti Airtel
USN1384FAA32
11-Mar-23
1500
200/1
100
USD
Fixed
5.125
105.13
106.63
4.18
BBB- /Baa3 /BBB-
Bharti Airtel Internatio
USN1384FAB15
20-May-24
1000
200/1
100
USD
Fixed
5.350
106.88
108.38
4.27
BBB- /Baa3 /BBB-
Etisalat
XS1077881743
18-Jun-19
500
200/1
100
USD
Fixed
2.375
100.25
101.25
2.09
AA- /Aa3 /A+
Etisalat
XS1077883012
18-Jun-24
500
200/1
100
USD
Fixed
3.500
101.88
102.88
3.15
AA- /Aa3 /A+
Etisalat
XS1077882121
18-Jun-21
1200
100/1
100
EUR
Fixed
1.750
102.25
103.25
1.24
AA- /Aa3 /A+
Page 13
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Etisalat
XS1077882394
18-Jun-26
1200
100/1
Helios Towers Finance Nl
XS1081230879
15-Jul-19
250
200/1
100
EUR
Fixed
2.750
105.25
106.25
2.14
AA- /Aa3 /A+
100
USD
Fixed
8.375
93.25
95.75
9.51
MTS International
XS0921331509
30-May-23
500
B /- /B
200/1
100
USD
Fixed
5.000
87.75
90.75
6.42
BBB- /Baa3 /BB+
Qatar Telecom
XS0549116290
14-Oct-16
Qatar Telecom
XS0432791571
10-Jun-19
1000
200/1
100
USD
Fixed
3.375
103.38
104.38
1.09
A- /A2 /A+
600
100/1
100
USD
Fixed
7.875
122.88
124.38
2.26
Qatar Telecom
XS0549116530
A- /A2 /A+
16-Feb-21
1000
200/1
100
USD
Fixed
4.750
107.75
109.75
3.03
A- /A2 /A+
Qatar Telecom Qatar Telecom
XS0866438475
21-Feb-23
1000
200/1
100
USD
Fixed
3.250
96.38
98.88
3.41
A- /A2 /A+
XS0551307100
19-Oct-25
750
200/1
100
USD
Fixed
5.000
107.25
109.75
3.90
A- /A2 /A+
Qatar Telecom
XS0880134258
31-Jan-28
500
200/1
100
USD
Fixed
3.875
95.38
97.88
4.08
A- /A2 /A+
Qatar Telecom
XS0881740384
31-Jan-43
500
200/1
100
USD
Fixed
4.500
97.63
100.13
4.49
A- /A2 /A+
Naspers
USN5946FAA59
28-Jul-17
700
100/1
100
USD
Fixed
6.375
107.50
109.50
2.74
- /Baa3 /BB+
Naspers
USN5946FAB33
18-Jul-20
1000
200/1
100
USD
Fixed
6.000
108.00
110.00
4.02
- /Baa3 /BB+
Rolta LLC
USU77587AA83
16-May-18
127
200/1
100
USD
Fixed
10.750
104.25
106.75
8.49
BB- /- /BB-
Rolta Americas Llc
USU77583AA79
24-Jul-19
373
200/1
100
USD
Fixed
8.875
99.25
101.25
8.54
BB- /- /BB-
Telecom Italia Spa
XS0195160329
24-Jun-19
850
50/50
100
GBP
Fixed
6.375
107.50
109.00
4.19
BB+ /Ba1 /BBB-
Telemar Norte Leste Sa
USP9037HAL70
23-Oct-20
1787
100/1
100
USD
Fixed
5.500
96.50
98.50
5.80
BB+ /Ba1 /BB+
Turk Telekomunikasyon As
XS1028952155
19-Jun-19
500
200/1
100
USD
Fixed
3.750
98.38
100.38
3.66
BBB- /- /BBB-
Turk Telekomunikasyon As
XS1028951264
19-Jun-24
500
200/1
100
USD
Fixed
4.875
98.38
100.38
4.82
BBB- /- /BBB-
Oi Sa
USP18445AG42
10-Feb-22
1500
200/1
100
USD
Fixed
5.750
93.50
95.50
6.54
BB+ /Ba2 /BB+
Vimpelcom Holdings
XS0889401054
13-Feb-19
600
200/1
100
USD
Fixed
5.200
95.00
98.00
5.73
BB /Ba3 /-
Vimpelcom Holdings Bv
XS0889401724
13-Feb-23
1000
200/1
100
USD
Fixed
5.950
89.63
92.63
7.14
BB /Ba3 /-
Ajecorp Bv
USN01766AA73
14-May-22
450
150/1
100
USD
Fixed
6.500
92.00
94.00
7.56
BB /- /BB+
Afren Plc
USG01283AD52
01-Feb-16
253
200/1
100
USD
Fixed
11.500
102.88
105.38
6.87
B+ /- /B+ B+ /- /B+
Security Name
Industrials / Energy
Afren Plc
USG01283AF01
08-Apr-19
250
200/1
100
USD
Fixed
10.250
103.13
105.63
8.32
Afren Plc
USG01283AG83
09-Dec-20
360
200/1
100
USD
Fixed
6.625
92.25
94.75
7.72
B+ /- /B+
Anglogold Holdings Plc
US03512TAD37
30-Jul-20
1250
1/1
100
USD
Fixed
8.500
106.38
108.38
6.42
BB+ /Baa3 /-
Anglogold Holdings Plc
US03512TAA97
15-Apr-20
700
1/1
100
USD
Fixed
5.375
97.25
99.25
5.54
BB+ /Baa3 /-
Anglogold Holdings Plc
US03512TAC53
01-Aug-22
750
1/1
100
USD
Fixed
5.125
93.63
95.63
5.83
BB+ /Baa3 /-
Anglogold Holdings Plc
US03512TAB70
15-Apr-40
300
1/1
100
USD
Fixed
6.500
93.13
95.13
6.91
BB+ /Baa3 /-
Bharat Petroleum (BPCL)
XS0848436365
25-Oct-22
500
200/1
100
USD
Fixed
4.625
100.38
103.38
4.12
- /Baa3 /BBB-
China Automation Group
XS0615048260
20-Apr-16
192
200/1
100
USD
Fixed
7.750
101.25
103.25
4.74
BB- /Ba3 /-
Page 14
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
China Construct Bk Asia
XS1100009874
20-Aug-24
750
200/1
100
USD
Variable
China Hongqiao Group
XS1081333921
26-Jun-17
400
200/1
100
USD
Fixed
China Oil And Gas Group
USG2115XAA66
25-Apr-18
350
200/1
100
USD
Cimento Tupi Sa
USP9159EAA03
11-May-18
150
2/1
100
Cimpor Financial Opertns
USN20137AD23
17-Jul-24
750
200/1
100
Citic Ltd
XS0758793342
21-Jan-18
1100
200/1
Security Name
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
4.250
99.13
101.13
3.99
- /Baa1 /A-
7.625
102.25
104.25
5.86
BB /- /BB
Fixed
5.250
101.63
103.63
4.12
BB+ /Ba1 /-
USD
Fixed
9.750
97.13
100.13
9.69
B /- /B
USD
Fixed
5.750
95.75
97.75
6.06
BB /- /BB
100
USD
Fixed
6.875
110.50
112.50
2.78
BBB+ /A3 /BBB+ /A3 /-
Citic Ltd
XS0912154381
10-Apr-20
500
200/1
100
USD
Fixed
6.375
111.38
113.38
3.64
Cliffs Natural Resources
US18683KAA97
15-Mar-20
400
2/1
100
USD
Fixed
5.900
82.00
88.00
8.75
BB- /Ba2 /-
Cnpc General Capital Ltd
USG22004AF54
14-May-17
750
200/1
100
USD
FRN
1.133
98.63
100.63
0.88
A+ /A1 /A+
Cnpc General Capital Ltd
USG22004AG38
14-May-19
750
200/1
100
USD
Fixed
2.750
98.50
100.50
2.63
A+ /A1 /A+
Colbun Sa
USP2867KAE66
10-Jul-24
500
200/1
100
USD
Fixed
4.500
99.75
101.75
4.27
BBB- /- /BBB
Dana Gas (C) (S)
XS0914266415
31-Oct-17
364
45/0.01
100
USD
Fixed
7.000
86.63
93.63
9.47
Not Rated
Dana Gas (S)
XS0914266845
31-Oct-17
425
45/0.01
100
USD
Fixed
9.000
89.38
93.38
11.65
Not Rated
DEWA
XS0504040725
22-Apr-15
1000
100/1
100
USD
Fixed
8.500
103.00
104.00
-0.07
- /Baa2 /WD
DEWA
XS0551313926
21-Oct-16
500
100/1
100
USD
Fixed
6.375
108.13
110.13
1.14
- /Baa2 /WD
DEWA
XS0551313686
21-Oct-20
1500
100/1
100
USD
Fixed
7.375
121.63
123.63
3.02
- /Baa2 /WD
DEWA (S)
XS0897680558
05-Mar-18
1000
200/1
100
USD
Fixed
3.000
101.63
103.63
1.87
BBB /- /-
Dolphin Energy Ltd
USM28368AA21
15-Jun-19
772
100/1
100
USD
Fixed
5.888
109.25
110.75
3.35
- /A1 /A+
Dolphin Energy Ltd
USM28368AB04
15-Dec-21
1300
200/1
100
USD
Fixed
5.500
113.75
115.25
3.09
- /A1 /A+
Doric Nimrod Air 2012-1A
US258258AA01
30-Nov-22
393
200/1
100
USD
Fixed
5.125
104.50
106.00
4.24
- /A3 /-
Dp World Ltd (C)
XS1078764302
19-Jun-24
1000
200/200
100
USD
Fixed
1.750
105.88
107.38
0.95
- /Baa3 /BBB-
DP World
XS0308427581
02-Jul-37
1750
100/10
100
USD
Fixed
6.850
114.38
115.88
5.60
NR /Baa3 /BBB-
DP World (S)
XS0307408152
02-Jul-17
1500
100/10
100
USD
Fixed
6.250
108.88
110.38
2.21
NR /Baa3 /BBB-
Emirates Airlines
XS0632833553
08-Jun-16
1000
200/1
100
USD
Fixed
5.125
104.63
106.13
1.23
Not Rated
Emirates Airlines
XS0885065887
06-Feb-25
750
200/1
100
USD
Fixed
4.500
99.38
100.88
4.39
Not Rated
Emirates Airlines (S)
XS0904232310
19-Mar-23
805
200/1
100
USD
Fixed
3.875
99.25
100.75
3.77
Not Rated
Eskom Holdings Soc Ltd
XS0579851949
26-Jan-21
1750
200/1
100
USD
Fixed
5.750
101.88
103.88
5.02
BBB- /Baa3 /-
Eskom Holdings Soc Ltd
XS0958072240
06-Aug-23
1000
200/1
100
USD
Fixed
6.750
106.63
108.63
5.49
BBB- /Baa3 /-
Exim Sukuk Malaysia (S)
XS0981802738
19-Feb-19
300
200/1
100
USD
Fixed
2.874
100.13
102.13
2.35
- /A3 /A-
Fibria Overseas Finance
US31572UAE64
12-May-24
600
2/1
100
USD
Fixed
5.250
100.63
102.63
4.90
BB+ /Ba1 /BBB-
Gazprom (Gaz Capital Sa)
XS0974126186
25-Sep-20
500
100/1
100
GBP
Fixed
5.338
97.13
100.13
5.31
BBB- /Baa1 /BBB
Gazprombk (Gpb Finance)
XS0975320879
28-Dec-23
750
200/1
100
USD
Variable
7.496
93.75
96.75
8.44
- /NR /BB-
Gems Mea Sukuk Ltd (S)
XS0995041539
Perpetual
200
150/1
100
USD
Variable
12.000
116.88
118.88
6.61
Not Rated
General Electric
XS0880289292
30-Jan-43
700
200/1
100
USD
Fixed
4.625
97.63
99.63
4.65
AA+ /A1 /-
Page 15
Fixed Income Trading November 2, 2014
Security Name
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
84
2/1
100
USD
Fixed
7.500
102.00
104.50
5.48
- /B3 /B-
1000
200/1
100
USD
Fixed
4.875
90.00
92.50
6.42
BB+ /Ba1 /-
550
200/1
100
USD
Fixed
8.000
97.13
99.63
8.09
B /- /B
22-Jan-15
500
100/1
100
USD
Fixed
4.750
99.00
101.00
0.13
- /Baa3 /BBB-
02-Aug-21
500
200/1
100
USD
Fixed
5.625
106.38
109.38
4.02
- /Baa3 /BBB-
01-Aug-23
500
200/1
100
USD
Fixed
5.750
108.13
110.13
4.34
- /Baa3 /BBB-
XS0602696618
30-Mar-16
200
200/1
100
USD
Fixed
4.406
102.00
104.00
1.52
BBB- /Baa3 /BBB-
XS0836520717
10-Oct-17
300
200/1
100
USD
Fixed
3.417
100.25
103.25
2.27
BBB- /Baa3 /BBB-
USL5828LAA72
16-Jul-24
500
200/1
100
USD
Fixed
5.250
96.50
98.50
5.45
BBB- /- /BBB-
ISIN Code
Maturity
Gol Finance
US38045UAC45
03-Apr-17
Gold Fields Orogen Hold
XS0547082973
07-Oct-20
Greenko Dutch Bv
USN3700LAA37
01-Aug-19
Indian Oil Corp Ltd
XS0480289189
Indian Oil Corp Ltd
XS0654493823
Indian Oil Corp Ltd
XS0955024236
Indian Railway Finance C Indian Railways Finance Co. Klabin Finance Sa
Outst. Amnt (Mn)
Credit Rating S&P /Moody /Fitch
Kuwait Energy
XS1086694111
04-Aug-19
250
200/1
100
USD
Fixed
9.500
102.25
104.25
8.39
B- /- /B-
Maoye International Hold
USG5804GAE47
19-May-17
300
200/1
100
USD
Fixed
7.750
100.75
103.75
6.13
BB /Ba2 /-
Masisa
USP6460HAA34
05-May-19
300
200/1
100
USD
Fixed
9.500
103.38
106.38
7.79
BB- /- /BB
MBPS
XS0559155717
15-Nov-15
194
200/1
100
USD
Fixed
11.250
97.38
100.38
6.12
B- /- /BB-
Millenium Offshore Services
USY53653AA28
15-Feb-18
225
200/1
100
USD
Fixed
9.500
106.00
109.00
2.48
B /B2 /BBB- /Baa3 /BBB-
Minsur Sa
USP6811TAA36
07-Feb-24
450
150/1
100
USD
Fixed
6.250
109.63
111.63
4.69
Nakilat Inc
USY62014AB48
31-Dec-33
274
100/1
100
USD
Fixed
6.267
112.13
115.13
5.03
A+ /A1 /A-
Nitrogenmuvek Vegyipari
XS0928972909
21-May-20
200
200/1
100
USD
Fixed
7.875
100.75
102.75
7.26
BB- /- /BB-
Norilsk Nickel OJSC
XS0922134712
30-Apr-18
750
200/1
100
USD
Fixed
4.375
97.88
99.88
4.41
BBB- /Baa2 /BBB-
Norilsk Nickel OJSC
XS0982861287
28-Oct-20
1000
200/1
100
USD
Fixed
5.550
98.63
100.63
5.43
BBB- /Baa2 /BBB-
Novolipetsk Steel OJSC
XS0808632847
19-Feb-18
708
200/1
100
USD
Fixed
4.450
95.00
97.50
5.29
BB+ /Baa3 /BBB-
Novolipetsk Steel OJSC
XS0783934325
26-Sep-19
471
200/1
100
USD
Fixed
4.950
94.50
97.00
5.66
BB+ /Baa3 /BBB-
NTPC Ltd
XS0245398226
02-Mar-16
300
100/1
100
USD
Fixed
5.875
103.50
105.50
1.67
BBB- /- /BBB-
NTPC Ltd
XS0648477593
14-Jul-21
500
200/1
100
USD
Fixed
5.625
108.00
110.00
3.91
BBB- /- /BBB-
NTPC Ltd
XS0835676353
03-Oct-22
500
200/1
100
USD
Fixed
4.750
102.25
104.25
4.11
BBB- /- /BBB-
Office Cherifien Des Pho
XS1061043011
25-Apr-24
1250
200/1
100
USD
Fixed
5.625
104.25
105.75
4.86
BBB- /- /BBB-
Office Cherifien Des Pho
XS1061043367
25-Apr-44
600
200/1
100
USD
Fixed
6.875
108.88
110.38
6.11
BBB- /- /BBB-
Oil India Ltd
XS1057074871
17-Apr-19
500
200/1
100
USD
Fixed
3.875
101.25
103.25
3.09
- /Baa2 /BBB-
Oil India Ltd
XS1056232322
17-Apr-24
500
200/1
100
USD
Fixed
5.375
106.00
108.00
4.33
- /Baa2 /BBB-
Ongc Videsh Ltd
XS0927643030
07-May-18
300
200/1
100
USD
Fixed
2.500
98.13
99.63
2.61
BBB- /Baa2 /-
Ongc Videsh Ltd
XS1084957155
15-Jul-19
750
200/1
100
USD
Fixed
3.250
99.25
100.75
3.08
BBB- /Baa2 /-
Ongc Videsh Ltd
XS0922882344
07-May-23
500
200/1
100
USD
Fixed
3.750
96.63
98.13
4.01
BBB- /Baa2 /-
Ongc Videsh Ltd
XS1079848369
15-Jul-24
750
200/1
100
USD
Fixed
4.625
101.38
102.88
4.26
BBB- /Baa2 /-
Petrobras Global Finance
US71647NAJ81
17-Mar-17
1400
2/1
100
USD
FRN
2.595
100.00
101.50
1.95
BBB- /Baa2 /BBB
Page 16
Fixed Income Trading November 2, 2014 Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
17-Mar-20
500
2/1
100
17-Mar-17
1600
2/1
100
USD
FRN
3.115
100.38
101.88
2.74
BBB- /Baa2 /BBB
USD
Fixed
3.250
100.00
101.50
2.59
17-Mar-20
1500
2/1
BBB- /Baa2 /BBB
100
USD
Fixed
4.875
100.75
102.25
4.40
BBB- /Baa2 /BBB
US71645WAR25
27-Jan-21
5250
US71647NAF69
20-May-23
3500
2/1
100
USD
Fixed
5.375
101.63
103.13
4.79
BBB- /Baa2 /BBB
2/1
100
USD
Fixed
4.375
94.63
96.13
4.94
Petrobras Global Finance
US71647NAM11
17-Mar-24
2500
BBB- /Baa2 /BBB
2/1
100
USD
Fixed
6.250
105.38
106.88
5.31
BBB- /Baa2 /BBB
Petrobras Global Finance
US71647NAK54
17-Mar-44
Petroleos De Venezuela S
USP7807HAK16
02-Nov-17
1000
2/1
100
USD
Fixed
7.250
109.88
111.38
6.39
BBB- /Baa2 /BBB
6150
0.1/0.1
100
USD
Fixed
8.500
75.25
77.25
18.78
PLN Indonesia
US71568QAA58
22-Nov-21
CCC+ /- /B
1000
200/1
100
USD
Fixed
5.500
104.63
107.13
4.32
BB /Baa3 /BBB-
Power Grid Corp Of India
XS0875759184
Puma Intl Financing
XS1022807090
17-Jan-23
500
200/1
100
USD
Fixed
3.875
95.88
98.38
4.11
BBB- /- /BBB-
01-Feb-21
1000
200/1
100
USD
Fixed
6.750
101.13
103.13
5.90
Ras Laffan Lng 3
USM8222MAB83
30-Sep-16
- /Ba3 /BB
284
250/1
100
USD
Fixed
5.832
104.25
106.25
2.45
A /Aa3 /A+
Ras Laffan Lng Ii
USM8221WAA91
Reliance Holding
USU75888AA26
30-Sep-20
867
250/1
100
USD
Fixed
5.298
107.25
109.25
3.55
A /Aa3 /A+
19-Oct-20
1000
250/1
100
USD
Fixed
4.500
104.00
106.00
3.38
BBB+ /Baa2 /-
Reliance Holding Reliance Holding
USU75888AC81
14-Feb-22
1500
250/1
100
USD
Fixed
5.400
108.13
110.13
3.79
BBB+ /Baa2 /-
USU75888AB09
19-Oct-40
500
250/1
100
USD
Fixed
6.250
111.63
113.63
5.28
BBB+ /Baa2 /-
Rural Electrification
XS0579361428
25-Jan-16
500
100/1
100
USD
Fixed
4.250
101.63
103.13
1.66
- /Baa3 /BBB-
Sabic Capital I Bv
XS0554434240
02-Nov-15
1000
200/1
100
USD
Fixed
3.000
101.25
102.75
0.23
A+ /A1 /A+
Sabic Capital II Bv
XS0971431613
03-Oct-18
1000
200/1
100
USD
Fixed
2.625
100.25
101.75
2.16
A+ /A1 /A+
Sabic Capital I Bv
XS0995811741
20-Nov-20
750
100/1
100
EUR
Fixed
2.750
107.63
109.13
1.18
A+ /A1 /A+
Security Name
ISIN Code
Maturity
Petrobras Global Finance
US71647NAL38
Petrobras Global Finance
US71647NAG43
Petrobras Global Finance
US71647NAH26
Petrobras Intl Fin Co Petrobras Global Finance
Samarco Mineracao Sa
USP84050AC02
26-Sep-24
500
200/1
100
USD
Fixed
5.375
99.50
101.00
5.24
BBB- /- /BBB
Sasol Financing Int
US803865AA25
14-Nov-22
1000
200/1
100
USD
Fixed
4.500
101.63
103.13
4.04
BBB /Baa1 /-
Saudi Electricity Co (S)
XS0764883806
03-Apr-17
500
200/1
100
USD
Fixed
2.665
102.88
103.88
1.03
AA- /A1 /AA-
Saudi Electricity Co (S)
XS0767862914
03-Apr-22
1250
200/1
100
USD
Fixed
4.211
106.25
107.25
3.11
AA- /A1 /AA-
Saudi Electricity Co (S)
XS0908512410
08-Apr-23
1000
200/1
100
USD
Fixed
3.473
101.00
102.00
3.20
AA- /A1 /AA-
Saudi Elec Global Sukuk (S)
XS1054250235
08-Apr-24
1500
200/1
100
USD
Fixed
4.000
104.75
105.75
3.29
AA- /A1 /AA-
Saudi Electricity Co (S)
XS0911024635
08-Apr-43
1000
200/1
100
USD
Fixed
5.060
101.75
102.75
4.88
AA- /A1 /AA-
Saudi Elec Global Sukuk (S)
XS1054250318
08-Apr-44
1000
200/1
100
USD
Fixed
5.500
108.75
109.75
4.87
AA- /A1 /AA-
Schahin Ii Finan Co Spv
USG785ARAA65
25-Sep-22
675
200/10
100
USD
Fixed
5.875
94.00
96.00
6.52
BBB- /Baa3 /BBB-
Shanghai Elc Grp Glb Inv
XS1092649620
14-Aug-19
500
200/1
100
USD
Fixed
3.000
99.88
101.88
2.58
A /A2 /A
Srilankan Airlines Ltd
XS1080090126
27-Jun-19
175
200/1
100
USD
Fixed
5.300
99.50
101.50
4.93
B+ /- /-
Syndicate Bank/London
XS1073127901
04-Dec-19
400
200/1
100
USD
Fixed
3.875
98.75
100.75
3.71
BBB- /Baa3 /-
Page 17
Fixed Income Trading November 2, 2014
Security Name
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
TAQA
XS0272948554
27-Oct-16
1000
100/1
100
USD
Fixed
5.875
108.25
109.75
0.90
A- /A3 /-
TAQA
XS0717839525
13-Mar-17
750
200/1
100
USD
Fixed
4.125
105.25
106.75
1.21
A- /A3 /-
TAQA
XS0328390702
25-Oct-17
500
100/1
100
USD
Fixed
6.165
111.38
112.88
1.71
A- /A3 /-
TAQA
XS0863523972
12-Jan-18
750
200/1
100
USD
Fixed
2.500
100.75
102.25
1.77
A- /A3 /-
TAQA
XS0380056183
01-Aug-18
500
100/1
100
USD
Fixed
7.250
117.63
119.13
1.93
A- /A3 /-
TAQA
XS0452300402
16-Sep-19
500
100/1
100
USD
Fixed
6.250
116.75
118.25
2.27
A- /A3 /-
TAQA
XS0717839871
13-Dec-21
750
200/1
100
USD
Fixed
5.875
116.88
118.38
2.99
A- /A3 /-
TAQA
XS0863524277
12-Jan-23
1250
200/1
100
USD
Fixed
3.625
100.13
101.63
3.39
A- /A3 /-
TAQA
XS1017435352
06-May-24
750
200/1
100
USD
Fixed
3.875
101.00
102.50
3.56
A- /A3 /-
TAQA
XS0272949016
27-Oct-36
912
100/1
100
USD
Fixed
6.500
125.75
127.25
4.53
A- /A3 /-
Tata Steel
XS1092182606
31-Jan-20
500
200/1
100
USD
Fixed
4.850
102.13
103.63
4.07
BB /- /BB+
Tata Steel
XS1090889947
31-Jul-24
1000
200/1
100
USD
Fixed
5.950
101.13
102.63
5.59
BB /- /BB+
Topaz Marine Sa
USL90608AA56
01-Nov-18
350
200/1
100
USD
Fixed
8.625
99.13
102.13
7.98
B- /B3 /-
Transnet Soc Ltd
XS0590902325
10-Feb-16
750
200/1
100
USD
Fixed
4.500
102.63
104.13
1.20
BBB- /A3 /-
Transnet Soc Ltd
XS0809571739
26-Jul-22
1000
200/1
100
USD
Fixed
4.000
95.63
97.13
4.44
BBB- /A3 /BBB
Tullow Oil Plc
USG91235AA22
01-Nov-20
650
200/1
100
USD
Fixed
6.000
93.75
95.75
6.88
BB- /B2 /-
Tullow Oil Plc
USG91235AB05
15-Apr-22
650
200/1
100
USD
Fixed
6.250
90.63
92.63
7.56
BB- /B2 /-
Tupras-Turkiye Petrol Ra
XS0849020556
02-May-18
700
200/1
100
USD
Fixed
4.125
98.88
100.38
4.01
- /Ba1 /BBB-
Vale Overseas Limited
US91911TAM53
11-Jan-22
2250
2/1
100
USD
Fixed
4.375
100.75
102.25
4.01
A- /Baa2 /BBB+
Vedanta Resources Plc
USG9328DAF71
07-Jun-16
750
200/1
100
USD
Fixed
6.750
103.50
105.50
3.17
BB /Ba3 /WD
Vedanta Resources Plc
USG9328DAH38
31-Jan-19
1200
200/1
100
USD
Fixed
6.000
100.88
102.88
5.23
BB /Ba3 /WD
Vedanta Resources Plc
USG9328DAG54
07-Jun-21
900
200/1
100
USD
Fixed
8.250
108.38
110.38
6.30
BB /Ba3 /WD
Vedanta Resources Plc
USG9328DAJ93
31-May-23
500
200/1
100
USD
Fixed
7.125
101.00
103.00
6.66
BB /Ba3 /WD
Videocon Industries Ltd (C)
XS0566786546
16-Dec-15
194
100/100
100
USD
Fixed
6.750
86.50
89.50
17.48
Not Rated
Waha Aerospace
XS0528721623
28-Jul-20
900
100/1
100
USD
Fixed
3.925
104.63
106.13
2.76
AA /Aa2 /AA
Yancoal Intl Res Dev
USY97279AA45
16-May-17
450
200/1
100
USD
Fixed
4.461
97.38
99.88
4.51
BB+ /Ba2 /BB+
Yancoal Intl Res Dev
USY97279AB28
16-May-22
550
200/1
100
USD
Fixed
5.730
92.25
94.75
6.63
BB+ /Ba2 /BB+
Yingde Gases Invstmt Ltd
USG9844KAA72
22-Apr-18
425
200/1
100
USD
Fixed
8.125
102.75
104.75
6.57
BB- /Ba3 /BB
Yingde Gases Invstmt Ltd
USG9844KAB55
28-Feb-20
250
200/1
100
USD
Fixed
7.250
98.38
100.38
7.16
BB- /Ba3 /BB
Zoomlion Hk Spv Co Ltd
USY9896RAB79
20-Dec-22
600
200/1
100
USD
Fixed
6.125
93.88
95.88
6.79
BB /- /BB+
Page 18
Fixed Income Trading November 2, 2014
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Abn Amro Bank Nv
XS0619547838
27-Apr-22
595
200/1
100
USD
Abn Amro Bank Nv
XS0827817650
13-Sep-22
1500
200/1
100
USD
Bank Of Scotland Plc
XS0066120915
15-May-21
500
10/10
100
GBP
Barclays
XS0322792010
Perpetual
117
100/1
100
USD
Barclays
XS0397801357
Perpetual
3000
50/1
100
GBP
Barclays Bank Plc
US06740L8C27
21-Nov-22
3000
200/1
100
Barclays Bank Plc
US06739FHK03
10-Apr-23
1000
200/1
100
Citigroup Inc
XS0180008905
18-Nov-15
250
1/1
Commerzbank Ag
XS0101360161
30-Aug-19
150
Commerzbank Ag
DE000CB83CF0
16-Mar-21
1250
Credit Agricole
FR0010772244
Perpetual
1350
Credit Agricole
FR0010533554
Perpetual
Credit Agricole Sa
USF22797RT78
Perpetual
Credit Europe Bank NV
XS0878492791
24-Jan-23
Goldman Sachs Group Inc
XS0212249014
15-Dec-15
Jaguar Land Rover Automo
USG50027AB03
Security Name
Value at Maturity
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Fixed
6.250
111.88
113.88
4.08
BBB- /Baa3 /A-
Variable
6.250
108.00
110.00
2.60
BBB- /NR /A-
Fixed
9.375
129.25
130.25
4.01
BBB- /Baa2 /BBB+
Variable
7.434
110.50
113.00
3.03
BB /Ba1 /BBB-
Variable
14.000
128.63
131.63
5.93
BB /Ba1 /BBB-
USD
Fixed
7.625
108.63
110.63
5.94
BB+ /NR /BBB-
USD
Variable
7.750
108.25
110.25
4.49
BB+ /NR /BBB-
100
GBP
Fixed
5.500
102.75
104.75
0.88
A- /Baa2 /A
10/10
100
GBP
Fixed
6.625
108.25
110.25
4.23
BB /Ba2 /BBB-
100/100
100
EUR
Fixed
7.750
121.38
123.38
3.57
BB /Ba2 /BBB-
2/2
100
USD
Fixed
9.750
100.00
102.00
-3.88
BB+ /Ba2 /BBB-
500
2/2
100
USD
Fixed
7.375
101.13
103.13
0.53
BB+ /Ba2 /BBB-
1750
200/1
100
USD
Variable
7.875
103.13
104.63
7.18
BB /NR /BB+
400
200/1
100
USD
Variable
8.000
102.25
105.25
6.17
- /B1 /B+
600
1/1
100
GBP
Fixed
5.250
103.63
104.63
1.04
A- /Baa1 /A
15-May-21
410
150/1
100
USD
Fixed
8.125
107.25
111.25
3.14
BB /Ba2 /BBBBB- /NR /-
Currency
Coupon Type
Various Developed Market Issues
KBC Bank NV
BE6248510610
25-Jan-23
1000
200/200
100
USD
Variable
8.000
110.75
112.25
3.92
Lloyds Bank Plc
XS0517466198
07-Sep-15
75
1/0.1
100
GBP
Fixed
5.375
101.75
103.75
0.88
A /A1 /A
Lloyds Bank Plc
US53947QAA58
14-Sep-20
2000
100/1
100
USD
Fixed
6.500
114.75
116.75
3.33
BBB- /Baa2 /BBB+
Lloyds Bank Plc
XS0717735582
16-Dec-21
466
1/1
100
GBP
Variable
10.750
115.38
116.38
2.67
BBB- /Baa3 /BBB+
Macquarie Bank Ltd
US55608YAA38
07-Apr-21
1000
2/1
100
USD
Fixed
6.625
112.75
115.75
3.83
BBB /Baa2 /A-
Macquarie Bank Ltd
XS0543111768
21-Sep-20
600
50/50
100
EUR
Fixed
6.000
116.00
119.00
2.49
BBB /Baa2 /A-
Bank Of America Corp
XS0191960896
12-Dec-14
350
1/1
100
GBP
Fixed
5.750
98.75
100.75
-1.37
A- /Baa2 /A
Mizuho Group
XS0803109270
18-Jul-22
1500
200/1
100
USD
Fixed
4.200
102.50
105.50
3.38
A /A2 /-
Morgan Stanley
XS0236338504
30-Nov-15
325
50/1
100
GBP
Fixed
5.125
102.38
104.38
0.99
A- /Baa2 /A
Morgan Stanley
XS0531922465
10-Aug-20
1500
50/50
100
EUR
Fixed
5.375
122.63
123.63
1.12
A- /Baa2 /A
Morgan Stanley
US61747WAF68
25-Jan-21
2592
100/1
100
USD
Fixed
5.750
113.63
115.63
2.98
A- /Baa2 /A
Natixis
USF6483LHM57
Perpetual
186
100/1
100
USD
Variable
10.000
115.88
118.88
4.13
BB+ /Ba2 /BBB-
Natl Westminster Bank
XS0090254722
07-Sep-21
300
10/10
100
GBP
Fixed
6.500
110.13
112.13
4.40
BB+ /Ba2 /BBB-
Prudential Plc
XS0873630742
Perpetual
700
200/1
100
USD
Fixed
5.250
100.63
102.63
4.41
A- /Baa1 /BBB+
Rabobank Nederland
XS0826634874
14-Sep-22
1000
100/1
100
EUR
Fixed
4.125
113.00
115.00
2.04
A- /A2 /A+
Rabobank Nederland
XS0583302996
Perpetual
2000
100/1
100
USD
Variable
8.375
106.13
108.13
3.48
- /- /BBB
Page 19
Fixed Income Trading November 2, 2014
Security Name
ISIN Code
Maturity
Outst. Amnt (Mn)
Min Piece/ Incr. (000)
Value at Maturity
Currency
Coupon Type
Coupon %
Indic. Bid
Indic. Offer
Offer Yield %
Credit Rating S&P /Moody /Fitch
Rabobank Nederland
XS0703303262
Perpetual
2000
100/1
100
USD
Variable
8.400
109.13
111.13
3.94
- /- /BBB
Royal Bk Of Scotland Plc
XS0356705219
09-Apr-18
2000
50/1
100
EUR
Fixed
6.934
112.75
114.75
2.39
BB+ /Ba2 /BBB-
Royal Bk Of Scotland Plc
XS0753308559
16-Mar-22
2132
1/1
100
USD
Variable
9.500
113.13
115.13
2.84
BB+ /NR /BBB-
Royal Bk Scotlnd Grp Plc
US780099CE50
15-Dec-22
2250
2/1
100
USD
Fixed
6.125
107.25
109.25
4.74
BB /Ba3 /BBB-
Societe Generale
XS0503530874
17-Dec-15
350
50/50
100
GBP
Fixed
3.875
101.25
103.25
0.94
A /A2 /A
Societe Generale
XS0454569863
Perpetual
1000
2/2
100
USD
Fixed
8.750
101.63
103.63
0.20
BB+ /Ba2 /-
Standard Chartered Plc
XS0874014722
11-Jan-23
2000
200/1
100
USD
Fixed
3.950
96.38
98.38
4.19
BBB+ /A3 /A+
UBS AG
CH0214139930
22-May-23
1500
200/1
100
USD
Variable
4.750
100.13
102.13
4.09
BBB /NR /BBB+
Unicredit Spa
XS0849517650
31-Oct-22
1500
100/1
100
EUR
Fixed
6.950
116.50
118.50
4.18
BB+ /Ba2 /BBB
Unicredit Spa
XS0925177130
02-May-23
750
200/1
100
USD
Variable
6.375
104.13
106.13
4.46
BB+ /Ba2 /BBB
Egypt T Bills Egypt 3M T Bills
N/A
11-Jul-14
2500
500/25
100
EGP
Zero Cpn
N/A
96.96
97.43
8.46
B/B2/B+
Egypt 6M T Bills
N/A
10-Oct-14
3000
500/25
100
EGP
Zero Cpn
N/A
93.94
94.83
8.75
B/B2/B+
Egypt 9M T Bills
N/A
09-Jan-15
3500
500/25
100
EGP
Zero Cpn
N/A
91.00
92.26
8.98
B/B2/B+
Egypt 1Y T Bills
N/A
10-Apr-15
4000
500/25
100
EGP
Zero Cpn
N/A
88.37
89.95
8.96
B/B2/B+
(C) Denotes a Convertible bond (S) Denotes a Sukuk * Offer Yield adjusted for tax
Page 20
