mashreq fixed income daily - 8 july 2015

mashreqFixed Income Trading

Daily Market Update

Market Update

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Iran talks drag on with deadline pushed to Friday

Diplomats missed another deadline for a nuclear deal with Iran and may prolong talks until the end of the week or beyond, as they spar over an arms

embargo and what would happen if the accord is breached. World powers extended until July 10 the interim arrangement that freezes Iran’s most

sensitive nuclear work in exchange for limited relief from sanctions. While the negotiators in Vienna are playing down talk of deadlines, the timetable for

review by the US Congress means that any further easing of the curbs will be delayed by at least a month if a final agreement isn’t reached by Friday

morning. All sides say they’re closer than ever to a deal after 11 straight days of high-level talks in the Austrian capital. For energy-rich Iran, an

agreement would speed its return to world oil markets and the international financial system. The world powers say any deal must restrict the Islamic

Republic’s ability to pursue nuclear weapons. The biggest remaining disputes are over Iranian demands to lift a United Nations arms embargo, and

agreement over a mechanism that would allow the renewal of sanctions in case Iran violates the deal, Russian Foreign Minister Sergei Lavrov told

reporters. Iran is also seeking “snap-back” arrangements so that it can resume uranium enrichment if the other side breaks its promises. Western

diplomats say that a UN arms embargo and restrictions on Iran’s missile program will have to remain. A senior US official said that while it would be a

“tragedy” for talks to collapse after two years, failure is a real possibility if Iran refuses to meet the terms needed for a strong and durable deal. French

Foreign Minister Laurent Fabius said that disagreements also remain over limits on Iran’s nuclear research and development. (Bloomberg)

Wednesday, July 08, 2015

Chinese equities’ rout deepens, forcing additional policy response

China’s benchmark stock index fell to a three-month low on concern a raft of measures to stabilize equities is failing to stop the bear-market rout as

traders unwind margin bets at a record pace. The Shanghai Composite Index plunged as much as 8.2%, the most since 2007, before recovering some

of the losses. It is currently trading at 3,503, down almost 6% for the day. The latest attempts to stem declines, which include a wave of Chinese

companies halting trading in their shares and regulators unveiling measures to prop up the value of small-cap stocks, have so far failed to convince

investors that valuations are cheap enough after a 28% drop in the Shanghai Composite from this year’s high on June 12. The measures follow stock

purchases by state-directed funds and interest-rate cuts by the central bank in recent weeks. State-backed China Securities Finance Corp. is seeking at

least 500 billion yuan (USD81 billion) in liquidity to support the stock market, according to people familiar with the matter. It’s aiming to raise funds

from the People’s Bank of China and the interbank market, according to sources. The final amount has yet to be set and may be far higher. The PBOC

said Wednesday it will provide ample liquidity to the company, joining other arms of the government in measures to stem the selling. Traders cut 98.3

billion yuan (USD15.8 billion) worth of shareholdings purchased with borrowed money on the Shanghai exchange on Tuesday, an 8.5% drop from the

previous day that’s the biggest on record. At least 1,301 companies have halted trading on mainland Chinese exchanges, locking up USD2.6 trillion of

shares, or about 40% of China’s market capitalization. The China Financial Futures Exchange raised margin requirements for sell orders on CSI 500

index futures, while the central bank will provide “ample liquidity” to the stock market. China Securities Finance Corp. said it will buy more shares of

small- and mid-cap companies. The government also ordered state-owned firms not to cut holdings in their listed companies. (Bloomberg)

Greece given Sunday deadline to agree to the bailout terms, otherwise risk an exit from Eurozone

European leaders set a Sunday deadline for Greece to accept a rescue, saying otherwise they will take the unprecedented step of propelling the country

out of the euro. At a Brussels summit, Greece’s anti-austerity government was ordered to make new economic reform proposals that could earn it

another aid package and head off financial ruin. Tsipras said after the summit that Greece had outlined its new proposals. “We have only a few days left

to find a solution,” German Chancellor Angela Merkel told reporters late Tuesday after euro- area leaders met in Brussels. She conceded that she is “not

especially optimistic.” “We have a Grexit scenario prepared in detail,” European Commission President Jean-Claude Juncker said. “Our inability to find

agreement may lead to the bankruptcy of Greece and the insolvency of its banking system,” European Union President Donald Tusk said. “If someone

has any illusions that it will not be so, they are naive.” Euro-zone finance ministers will hold a conference call Wednesday to weigh Greece’s new aid

request and call for an evaluation by the commission. By 8:30 a.m. on Friday, Greece must spell out how it will make the economy more competitive

and save money in the process, which would require it to stomach many of the reforms that Tsipras’s left-leaning Syriza party has resisted since coming

to power in January. Expert assessment of that package would feed into a final set of meetings, culminating in summits of both euro-zone leaders and

the broader 28-nation EU on Sunday. (Bloomberg)

UAE Cabinet approves draft law on bankruptcy, WAM reports

The draft law aims to regulate accumulated debts, eases restructuring of companies as well as support troubled businesses, according to state-run WAM

news agency earlier this week. It was stated that “the draft law aims to mitigate risk of bankruptcy and ensure a safe and attractive business

environment in the UAE that nurtures and supports investments.” Furthermore the draft law has been prepared after detailed studies with federal and

local entities as well as international consultancies in the field of bankruptcy and financial restructure. (Bloomberg)

Arabtec replaces senior management

Arabtec Holding has replaced senior management team as part of streamlining business and has accepted resignations of CFO Iyad Abdal Rahim, Chief

HR & Administration Officer Yazan Hatamleh, and General Council Wassel Al Fakhoury, according to statement posted on Dubai stock market. Ravi

Murthy is appointed as acting CFO. Resignations are a part of group reorganization to consolidate business functions and save costs, the company said.

It will “continue implementing its strategy aiming to increase productivity and operational efficiency to win new projects”. The construction company,

which helped build the Burj Khalifa, the world’s tallest tower in Dubai, reported a first-quarter loss of 279.8 million dirhams (USD76 million) compared

with a 137.9 million-dirham profit in the same period last year, as direct costs rose 28%. (Arabtec and Bloomberg)


Daily Market Update

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Large speculators trimmed their short positions in Treasuries

Hedge funds, which proved to be experts on getting the Treasury market wrong earlier this year, are becoming better at getting it right. Large

speculators including hedge funds trimmed their short positions in 10-year notes to almost zero last week, according to the Commodity Futures Trading

Commission. Investors who dropped their bets on bonds falling are reaping the reward as the market rises in July following a three-month rout.

Greece’s struggle to stay in the euro currency bloc and tumbling Chinese shares are driving demand for the relative safety of US debt. Treasuries

surged Monday, with 10-year yields falling 10 basis points, the steepest decline since June 29th. US government securities started the week with a rally

after Greece voted on Sunday to reject spending cuts that its creditors are demanding, increasing concern the nation will be forced out of the euro.

Speculators called Treasuries wrong earlier this year, increasing their net short position in 10-year notes to 261,282 contracts on the Chicago Board of

Trade in the week ended December 30th. It was the biggest wager against Treasuries since May 2010. The 10-year yield slumped 53 basis points in

January, the biggest monthly decline since August 2011. Investors reduced their shorts in early February, and 10- year yields climbed 35 basis points

that month, the biggest increase in a year and a half. (Bloomberg)

Moody's: Indian base metal industry to benefit from rising demand, raw material availability

Moody's Investors Service says that India's (Baa3 positive) base metals industry will benefit from increased demand, easing restrictions on raw material

availability, and relatively low production costs. Moody's analysis is contained in its just-published report "Base Metals -- India: Rising Demand, Better

Access to Raw Materials to Benefit Domestic Industry", by Alan Greene, a Moody's Vice President -- Senior Credit Officer. "We expect India's

consumption of base metals to increase by 8%-10% annually over the next three years, driven primarily by demand from three sectors: power,

construction and automotive," says Greene. "Our projections reflect domestic GDP growth--forecast at 7.5% in fiscal year 2016 and 7.6% in fiscal 2017-

-and the government's efforts to boost infrastructure spending." Moody's notes that India's installed capacity for all three base metals--aluminium,

copper, and zinc-- is sufficient to meet demand growth, having grown sharply over the past decade. However, the aluminium sector will become

oversupplied as large expansion projects come online over the next three years. That means aluminium manufacturers will continue to rely on exports

to maintain high utilization rates, but increased demand for copper and zine will absorb some excess capacity, says the rating agency. (Bloomberg)


Energy junk bonds resume slide as oil price comes under pressure

A slide in oil prices is bringing pain to the junk-bond market, as speculative-grade energy securities have tumbled more than 3% percent in just two

weeks, dragging down the entire US market, according to Bank of America Merrill Lynch index data. Yields on the debt have climbed to an average

9.34%, the highest since February and approaching levels that indicate investors view the typical security at high risk of default. Demand for the debt is

evaporating as the latest slump in oil revives concern that high-yield energy companies will struggle to service the record USD120 billion they borrowed

in the past three years to finance production during the shale boom. Crude has dropped to levels last seen in April, falling to USD52.33 a barrel from

USD61.43 on June 10. The extra yield investors demand to hold high-yield energy company debt rather than government securities rose to 860 basis

points on Tuesday, up from 760 basis points a month ago, Bloomberg data show. That’s approaching the 10 percentage- point limit considered

distressed. (Bloomberg)

USD20 billion economic package needed to cushion the impact of GST hike in 2017

Etsuro Honda, who advises Japanese PM on economic matters, said that it would be difficult for the BOJ to taper its record monetary stimulus before a

planned sales-tax hike in 2017 and the government may need to compile a 2.5 trillion yen (USD20 billion) economic package to cushion the blow to

households. He said the government would need to “take a cautious approach” after an increase in the levy last year sparked a recession. Tapering

before April 2017 “is a bit hard to imagine,” said Honda. “The BOJ will have to judge whether it can taper by looking at the degree of deceleration after

the tax hike. When the economy is slowing, it can’t start tapering.” An increase in the tax from 5% to 8% in April last year sparked two quarters of

economic contraction, even after Abe unveiled a 5.5 trillion yen stimulus package in December 2013. The next planned move would take the levy to

10%. Honda was instrumental in persuading Abe last year to postpone the next hike by 18 months to April 2017. (Bloomberg)

Auto sales in China slump for first time in two years

China’s passenger-vehicle sales fell for the first time in more than two years as the nation’s economic growth slowed and a stock-market rout dented

buying sentiment. Retail deliveries of cars, multipurpose vehicles and SUVs fell 3.2% in June from a year earlier to 1.43 million units, the China

Passenger Car Association said Wednesday on its website. Carmakers including Volkswagen AG and General Motors Co., which count China as their

largest market, have cut prices to defend market share as demand slows and domestic rivals lure increasingly value-conscious customers with cheaper

sport- utility vehicles. (Bloomberg)

Citigroup projects a rebound in MENA bond issuance during H2 2015

Citigroup sees Middle East bond sales rebounding from their slowest start since 2012 as companies rush to lock in cheap interest rates before next year.

“We’ll see good volumes in the Middle East for the rest of the year as people look to refinance maturities coming up in 2016 and take advantage of

current rates,” Iman Abdel Khalek, the bank’s director of Middle East debt capital markets, said by phone. “We’ll probably end up with higher volumes

than last year.” Sales in the MENA region, which extends from Morocco to Iran, have fallen 18% to USD24.3 billion this year from a year earlier,

according to data compiled by Bloomberg. About USD40 billion was raised in the region in 2014, according to the data. Many regional borrowers this

year have opted for loan deals instead of bonds with rates near-record lows. With about USD20 billion in maturities due next year, Abdel Khalek expects

issuers to refinance in the second half or early next year. Deals from North African countries will also help boost issuance levels, she said. (Bloomberg)


Daily Market Update

Change Change USD EUR AED

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

iTraxx Europe 81.295 2.180 18.295 2-Year 0.816 -0.026 0.119 -0.004 1.295 0.012

iTraxx Europe Crossover 351.277 10.961 5.692 5-Year 1.647 -0.054 0.453 0.004 2.336 -0.025

CDX North America IG 70.958 -0.485 4.837 10-Year 2.316 -0.065 1.055 -0.056 3.624 -0.002

CDX North America HY 354.212 -4.070 -2.742 30-Year 2.795 -0.065 1.552 -0.083 N/A N/A

iTraxx SovX Western Europe 31.855 2.285 3.990 Source: Bloomberg

iTraxx SovX CEEMEA 319.885 3.540 4.465

iTraxx Europe Senior Financial 100.521 3.226 33.086

iTraxx Europe Sub Financial 196.571 8.326 47.705

Source: Bloomberg

Change Change Last Change

bps Spread Day YTD YTD (%)

Emirate of Abu Dhabi 5Y 59.790 1.260 -3.750 S&P 500 2,081.34 1.09

Emirate of Dubai 5Y 203.530 5.750 -23.365 Dow Jones Industrial Avg 17,776.91 -0.26

Kingdom of Bahrain 5Y 276.655 8.685 34.915 DFM General Index 4,006.52 6.16

State of Qatar CDS 5Y 61.270 1.290 0.000 ADX General Index 4,715.91 4.13

Kingdom of Saudi Arabia 5Y 63.280 1.320 -3.430 Qatar Exchange Index 11,915.95 -3.01

Lebanese Republic 5Y 354.960 0.010 -40.115 TASI 9,081.73 8.98

Republic of Turkey 5Y 227.014 4.437 42.621 Spot Gold 1,149.81 -2.92

Arab Republic of Egypt 5Y 329.160 -3.505 47.380 Spot Silver 14.86 -5.42

Source: Bloomberg WTI Crude 51.66 -3.02

Brent Crude 56.00 -2.32

Source: Bloomberg

Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.51612 -0.03% 4.20%

Mashreq Al-Islami Arab Tigers 19.12510 -4.52% -2.75%

Makaseb Income Fund 13.01734 0.24% 1.77%

Source: Bloomberg


-20.18

-49.63

-5.45

-0.21

-0.67

MUTUAL FUNDS

-0.85

Last (NAV)

-8.63

bps

CDS MISCELLANEOUS

CREDIT MARKETS SWAPS

Change

Day

93.33

-34.87

12.58

Fixed Income Trading

July 8, 2015

Security Name ISIN Code MaturityOutst. Amnt

(Mn)

Min Piece/

Incr. (000)

Value at

MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer

Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abu Dhabi Govt Int'L XS0422754258 08-Apr-19 1500 100/1 100 USD Fixed 6.750 116.50 118.50 1.64 AA /Aa2 /AA

Arab Republic Of Egypt XS0505265859 29-Apr-20 1000 100/1 100 USD Fixed 5.750 103.38 104.88 4.60 B- /B3 /B

Arab Republic Of Egypt XS1245432742 11-Jun-25 1500 200/1 100 USD Fixed 5.875 95.75 97.25 6.25 B- /B3 /B

Arab Republic Of Egypt XS0505478684 30-Apr-40 500 100/1 100 USD Fixed 6.875 96.25 97.75 7.07 B- /B3 /B

Bahrain (CBB Int.) (S) XS0708899272 22-Nov-18 750 100/1 100 USD Fixed 6.273 110.88 112.38 2.42 BBB- /- /-

Commonwealth Of Bahamas USP06518AF40 16-Jan-24 300 200/1 100 USD Fixed 5.750 107.63 109.63 4.38 BBB /Baa2 /-

Dubai Government (S) XS0778097088 02-May-17 600 200/1 100 USD Fixed 4.900 105.75 106.75 1.12 Not Rated

Dubai Government (S) XS0778097674 02-May-22 650 200/1 100 USD Fixed 6.450 118.75 119.75 3.20 Not Rated

Dubai Government (S) XS0880424337 30-Jan-23 750 200/1 100 USD Fixed 3.875 102.75 103.75 3.31 Not Rated

Dubai Govt Int'L Bonds XS0546426528 05-Oct-15 500 100/1 100 USD Fixed 6.700 101.38 101.88 -1.22 Not Rated

Dubai Govt Int'L Bonds XS0546428144 05-Oct-20 750 100/1 100 USD Fixed 7.750 121.50 123.50 2.88 Not Rated

Dubai Govt Int'L Bonds XS0640032594 22-Jun-21 500 100/1 100 USD Fixed 5.591 112.25 113.25 3.13 Not Rated

Dubai Dof Sukuk Ltd (S) XS1062038143 30-Apr-29 750 200/1 100 USD Fixed 5.000 102.75 103.75 4.63 Not Rated

Dubai Govt Int'L Bonds XS0880597603 30-Jan-43 500 200/1 100 USD Fixed 5.250 89.25 91.25 5.90 Not Rated

Ethiopia XS1151974877 11-Dec-24 1000 200/1 100 USD Fixed 6.625 98.13 100.13 6.61 B /B1 /B

Emirate of Ras Al Khaimah (S) XS1210507650 31-Mar-25 1000 200/1 100 USD Fixed 3.094 97.88 98.88 3.23 - /- /A

Gabonese Republic XS0333225000 12-Dec-17 161 100/1 100 USD Fixed 8.200 105.38 107.38 4.93 B+ /- /B+

Gabonese Republic XS1003557870 12-Dec-24 1500 200/0.001 100 USD Fixed 6.375 94.25 96.25 6.92 B+ /- /B+

Gabonese Republic XS1245960684 16-Jun-25 500 200/1 100 USD Fixed 6.950 97.13 99.13 7.07 B+ /Ba3 /B+

Govt Of Bermuda USG10367AB96 06-Feb-24 750 200/1 100 USD Fixed 4.854 105.13 107.13 3.87 A+ /A1 /WD

Islamic Rep Of Pakistan USY8793YAK83 31-Mar-16 500 100/1 100 USD Fixed 7.125 101.25 103.25 2.50 B- /B3 /-

Islamic Rep Of Pakistan USY8793YAM40 01-Jun-17 750 100/1 100 USD Fixed 6.875 103.00 105.00 4.09 B- /B3 /-

Islamic Rep Of Pakistan XS1056560763 15-Apr-19 1000 200/1 100 USD Fixed 7.250 103.75 105.75 5.53 B- /B3 /-

Islamic Rep Of Pakistan (S) XS1147732553 03-Dec-19 1000 200/1 100 USD Fixed 6.750 101.25 103.25 5.90 B- /B3 /-

Islamic Rep Of Pakistan XS1056560920 15-Apr-24 1000 200/1 100 USD Fixed 8.250 107.88 109.88 6.74 B- /B3 /-

Islamic Rep Of Pakistan USY8793YAL66 31-Mar-36 300 100/1 100 USD Fixed 7.875 96.75 98.75 8.00 B- /B3 /-

Ivory Coast XS1089413089 23-Jul-24 750 200/1 100 USD Fixed 5.375 93.38 95.38 6.05 - /B1 /B

Ivory Coast XS1196517434 03-Mar-28 1000 200/1 100 USD Fixed 6.375 97.38 99.38 6.45 - /B1 /B

Ivory Coast XS0496488395 31-Dec-32 2519 100/1 100 USD Step Cpn 5.750 93.75 95.75 6.34 - /- /B

Kingdom Of Bahrain XS0498952679 31-Mar-20 1250 100/1 100 USD Fixed 5.500 108.13 109.63 3.28 BBB- /NR /BBB-

Kingdom Of Bahrain XS0794901727 05-Jul-22 1500 200/1 100 USD Fixed 6.125 110.75 112.25 4.09 BBB- /- /BBB-

Kingdom Of Bahrain XS0956406135 01-Aug-23 1500 200/1 100 USD Fixed 6.125 110.75 112.25 4.31 BBB- /- /BBB-

Sovereign


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Kingdom Of Bahrain XS1110833123 19-Sep-44 1250 200/1 100 USD Fixed 6.000 92.75 94.25 6.44 BBB- /- /BBB-

Kingdom Of Jordan XS0557127353 12-Nov-15 750 200/1 100 USD Fixed 3.875 99.13 101.13 0.53 BB- /B1 /-

Kingdom Of Morocco XS0307883891 27-Jun-17 500 50/1 100 EUR Fixed 5.375 106.75 108.75 0.86 BBB- /Ba1u /BBB-

Kingdom Of Morocco XS0546649822 05-Oct-20 1000 50/1 100 EUR Fixed 4.500 109.00 111.00 2.25 BBB- /- /BBB-

Kingdom Of Morocco XS0850020586 11-Dec-22 1500 200/1 100 USD Fixed 4.250 101.88 103.88 3.65 BBB- /- /BBB-

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

Kingdom Of Morocco US617726AG97 11-Dec-42 750 200/1 100 USD Fixed 5.500 100.25 103.25 5.27 BBB- /- /BBB-

Lebanese Republic XS0493540297 09-Mar-20 1200 1/1 100 USD Fixed 6.375 103.25 105.25 5.09 B- /NR /B

Lebanese Republic XS1196417569 26-Feb-25 800 1/1 100 USD Fixed 6.200 100.25 102.25 5.89 B- /- /B

Lebanese Republic XS1196419854 26-Feb-30 1400 1/1 100 USD Fixed 6.650 101.38 103.38 6.29 B- /NR /B

Malays Govt (S) USY9485PAA04 06-Jul-16 1200 250/1 100 USD Fixed 2.991 101.25 102.25 0.68 A- /A3 /-

Malays Govt (S) USY9485PAB86 06-Jul-21 800 250/1 100 USD Fixed 4.646 110.38 111.88 2.50 A- /A3 /-

Malaysia Sovereign Sukuk (S) USY5749LAA99 22-Apr-25 1000 200/1 100 USD Fixed 3.043 99.50 101.00 2.92 A- /A3 /-

Malaysia Sovereign Sukuk (S) USY5749LAB72 22-Apr-45 500 200/1 100 USD Fixed 4.236 95.88 97.38 4.39 A- /A3 /-

Mongolia Intl Bond US60937GAA40 05-Jan-18 500 200/1 100 USD Fixed 4.125 95.00 97.50 5.21 B+ /B2 /B+

Mongolia Intl Bond US60937GAB23 05-Dec-22 1000 200/1 100 USD Fixed 5.125 89.25 91.75 6.55 B+ /B2 /B+

Provincia De Buenos Aire XS0546539486 05-Oct-15 676 100/1 100 USD Fixed 11.750 99.88 102.38 1.58 CCC- /Caa2 /-

Rak Capital (S) XS0568993918 28-Jan-16 400 100/1 100 USD Fixed 5.239 102.00 103.00 -0.21 A /- /A

Rak Capital (S) XS0981184541 21-Oct-18 500 200/1 100 USD Fixed 3.297 102.63 104.63 1.84 A /- /A

Republic of Angola XS0814512223 16-Aug-19 1000 250/1 100 USD Fixed 7.000 97.50 99.50 7.14 B+ /Ba2 /-

Republic Of Azerbaijan XS1044540547 18-Mar-24 1250 200/1 100 USD Fixed 4.750 101.00 102.50 4.40 - /Baa3 /BBB-

Republic Of Congo XS0334989000 30-Jun-29 409 1/1 100 USD Step Cpn 4.000 90.00 91.50 6.53 - /- /B+

Republic Of Ghana XS0323760370 04-Oct-17 531 100/1 100 USD Fixed 8.500 102.75 104.75 6.18 B- /B3 /B

Republic Of Ghana XS0956935398 07-Aug-23 1000 200/0.001 100 USD Fixed 7.875 90.13 92.13 9.28 B- /B3 /B

Republic Of Ghana XS1108847531 18-Jan-26 1000 200/1 100 USD Fixed 8.125 90.50 92.50 9.25 B- /B3 /B

Republic of Indonesia (S) USY68616AA22 21-Nov-18 1000 200/1 100 USD Fixed 4.000 103.13 105.13 2.40 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAB24 15-Mar-19 1500 200/1 100 USD Fixed 6.125 110.88 112.38 2.57 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAA41 21-Nov-22 1000 200/1 100 USD Fixed 3.300 93.63 95.13 4.07 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BD05 15-Apr-23 1500 200/1 100 USD Fixed 3.375 94.25 95.75 4.02 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BJ74 15-Jan-24 2000 200/1 100 USD Fixed 5.875 110.00 111.50 4.25 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAC07 10-Sep-24 1500 200/1 100 USD Fixed 4.350 97.88 99.38 4.43 (P)BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BG36 15-Jan-25 2000 200/1 100 USD Fixed 4.125 97.63 99.13 4.24 BB+ /Baa3 /BBB-

Republic of Indonesia USY7133MAC39 05-May-25 1100 200/1 100 USD Fixed 4.250 92.88 94.38 4.98 BB+ /Baa3 /BBB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic of Indonesia (S) US71567RAD89 28-May-25 2000 200/1 100 USD Fixed 4.325 97.00 98.50 4.51 - /(P)Baa3 /BBB-

Republic Of Indonesia USY20721BB49 17-Jan-42 2250 200/1 100 USD Fixed 5.250 96.50 98.00 5.39 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BE87 15-Apr-43 1500 200/1 100 USD Fixed 4.625 89.88 91.38 5.22 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BK48 15-Jan-44 2000 200/1 100 USD Fixed 6.750 115.88 117.38 5.53 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BM04 15-Jan-45 2000 200/1 100 USD Fixed 5.125 94.75 96.25 5.38 BB+ /Baa3 /BBB-

Republic of Indonesia USY7133MAB55 05-May-45 500 200/1 100 USD Fixed 5.375 86.88 88.38 6.24 BB+ /Baa3 /BBB-

Republic Of Kazakhstan XS1120709669 14-Oct-24 1500 200/1 100 USD Fixed 3.875 93.25 94.75 4.58 BBB /Baa2 /BBB+

Republic Of Kazakhstan XS1120709826 14-Oct-44 1000 200/1 100 USD Fixed 4.875 84.38 85.88 5.89 BBB /Baa2 /BBB+

Republic Of Kenya XS1028951850 24-Jun-19 750 200/1 100 USD Fixed 5.875 102.25 103.75 4.82 B+ /- /B+

Republic Of Kenya XS1028952403 24-Jun-24 2000 200/1 100 USD Fixed 6.875 100.00 101.50 6.65 B+ /- /B+

Republic of Mozambique XS0969351450 11-Sep-20 850 200/1 100 USD Fixed 6.305 90.38 92.38 8.14 - /B1 /-

Republic Of Namibia XS0686701953 03-Nov-21 500 200/1 100 USD Fixed 5.500 107.13 108.63 3.94 - /Baa3 /BBB-

Republic Of Nigeria XS0944707651 12-Jul-18 500 200/1 100 USD Fixed 5.125 98.25 100.25 5.03 B+ /- /BB-

Republic Of Nigeria XS0584435142 28-Jan-21 500 200/1 100 USD Fixed 6.750 101.25 103.25 6.05 B+ /- /BB-

Republic Of Nigeria XS0944707222 12-Jul-23 500 200/1 100 USD Fixed 6.375 98.13 100.13 6.35 B+ /- /BB-

Republic Of Rwanda XS0925613217 02-May-23 400 200/1 100 USD Fixed 6.625 99.50 101.50 6.38 B+ /- /B+

Republic Of Senegal XS0625251854 13-May-21 500 200/1 100 USD Fixed 8.750 110.50 112.50 6.17 B+ /B1 /-

Republic Of Senegal XS1090161875 30-Jul-24 500 200/1 100 USD Fixed 6.250 95.75 97.75 6.58 B+ /B1 /-

Republic Of Seychelles XS0471464023 01-Jan-26 169 0.1/0.1 100 USD Step Cpn 7.000 96.25 99.25 7.79 - /- /B+

Republic Of Slovenia XS0982708926 18-Feb-19 1500 200/1 100 USD Fixed 4.125 103.50 105.00 2.66 A- /Baa3 /BBB+

Republic Of Slovenia XS0982709221 18-Feb-24 2000 200/1 100 USD Fixed 5.250 108.50 110.00 3.87 A- /Baa3 /BBB+

Republic Of South Africa XS0250007498 05-Apr-16 750 50/1 100 EUR Fixed 4.500 102.00 103.50 -0.23 BBB- /Baa2 /BBB

Republic Of South Africa US836205AD62 23-Jun-17 141 1/1 100 USD Fixed 8.500 112.88 114.38 1.01 BBB- /Baa2 /BBB

Republic Of South Africa US836205AM61 27-May-19 2000 100/1 100 USD Fixed 6.875 113.13 114.63 2.86 BBB- /Baa2 /BBB

Republic Of South Africa US836205AN45 09-Mar-20 2000 100/1 100 USD Fixed 5.500 108.13 109.63 3.25 BBB- /Baa2 /BBB

Zar Sov Capital Fund (S) XS1113141441 24-Jun-20 500 200/1 100 USD Fixed 3.903 100.88 102.38 3.38 BBB- /Baa2 /BBB

Republic Of South Africa US836205AL88 30-May-22 1000 100/1 100 USD Fixed 5.875 110.13 111.63 3.93 BBB- /Baa2 /BBB

Republic Of South Africa US836205AQ75 17-Jan-24 1500 100/1 100 USD Fixed 4.665 101.50 103.00 4.24 BBB- /Baa2 /BBB

Republic Of South Africa US836205AR58 16-Sep-25 2000 200/1 100 USD Fixed 5.875 108.63 111.63 4.44 BBB- /Baa2 /BBB

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

Republic Of South Africa US836205AP92 08-Mar-41 750 100/1 100 USD Fixed 6.250 111.25 114.25 5.23 BBB- /Baa2 /BBB

Republic Of South Africa US836205AS32 24-Jul-44 1000 200/1 100 USD Fixed 5.375 98.13 101.13 5.30 BBB- /Baa2 /BBB

Republic Of Sri Lanka USY8137FAA67 14-Jan-19 1000 200/1 100 USD Fixed 6.000 102.00 103.50 4.90 B+ /B1 /BB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic Of Sri Lanka USY8137FAB41 11-Apr-19 500 200/1 100 USD Fixed 5.125 99.13 100.63 4.94 B+ /B1 /BB-

Republic Of Sri Lanka USY8137FAC24 03-Jun-25 650 200/1 100 USD Fixed 6.125 98.00 99.50 6.19 - /B1 /BB-e

Republic Of Sri Lanka USY2029SAF12 04-Oct-20 1000 100/1 100 USD Fixed 6.250 102.00 104.00 5.36 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAG94 27-Jul-21 1000 200/1 100 USD Fixed 6.250 99.75 102.75 5.70 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAH77 25-Jul-22 1000 200/1 100 USD Fixed 5.875 96.75 99.75 5.92 B+ /B1 /BB-

Republic of Turkey Hazine M. (S) XS0975124180 10-Oct-18 1250 200/1 100 USD Fixed 4.557 104.38 105.38 2.81 - /Baa3 /BBB-

Republic Of Turkey US900123AX87 05-Jun-20 2000 2/1 100 USD Fixed 7.000 113.63 115.13 3.60 NR /Baa3 /BBB-

Republic Of Turkey XS0503454166 18-May-20 2000 50/1 100 EUR Fixed 5.125 110.63 112.13 2.44 NR /Baa3 /BBB-

Republic Of Turkey US900123CA66 23-Mar-23 1500 200/1 100 USD Fixed 3.250 92.75 94.25 4.13 - /Baa3 /BBB-

Republic Of Turkey XS1057340009 11-Apr-23 1000 100/1 100 EUR Fixed 4.125 105.75 107.25 3.06 - /Baa3 /BBB-

Republic Of Turkey US900123CF53 22-Mar-24 2500 200/1 100 USD Fixed 5.750 107.75 109.25 4.45 - /Baa3 /BBB-

Republic Of Turkey US900123CJ75 14-Apr-26 1500 200/1 100 USD Fixed 4.250 94.88 96.38 4.68 - /Baa3 /BBB-

Hazine Mustesarligi Varl (S) XS1141043296 25-Nov-24 1000 200/1 100 USD Fixed 4.489 97.75 99.25 4.59 - /Baa3 /BBB-

Republic Of Turkey US900123BG46 30-May-40 2000 100/1 100 USD Fixed 6.750 113.50 116.50 5.52 NR /Baa3 /BBB-

Republic Of Turkey US900123CB40 16-Apr-43 3000 200/1 100 USD Fixed 4.875 89.38 92.38 5.41 - /Baa3 /BBB-

Republic Of Turkey (S) XS0831353361 26-Mar-18 1500 200/1 100 USD Fixed 2.803 98.88 100.38 2.66 NR /Baa3 /BBB-

Republic Of Venezuela US922646AT10 15-Aug-18 753 1/1 100 USD Fixed 13.625 66.88 72.88 27.11 CCC /Caa3 /CCC

Republic of Vietnam (Socialist) USY9384RAA87 19-Nov-24 1000 200/1 100 USD Fixed 4.800 99.38 101.38 4.62 BB- /B1 /-

Republic Of Zambia XS0828779594 20-Sep-22 750 200/1 100 USD Fixed 5.375 83.63 86.13 7.94 B /- /B

Republic Of Zambia XS1056386714 14-Apr-24 1000 200/1 100 USD Fixed 8.500 98.00 100.50 8.41 B /- /B

Sharjah Sukuk Ltd (S) XS1106137687 17-Sep-24 750 200/1 100 USD Fixed 3.764 104.13 105.63 3.06 A /A3 /-

State Of Qatar XS0615235537 20-Jan-17 2000 200/1 100 USD Fixed 3.125 103.00 104.00 0.49 AA /Aa2 /-

State Of Qatar XS0423038875 09-Apr-19 1000 100/1 100 USD Fixed 6.550 115.88 117.38 1.74 AA /Aa2 /-



State Of Qatar XS0113419690 15-Jun-30 1400 10/1 100 USD Fixed 9.750 163.25 165.75 3.90 AA /Aa2 /-



State Of Qatar (S) XS0801656256 18-Jan-18 2000 200/1 100 USD Fixed 2.099 101.50 102.50 1.09 AA /Aa2 /-

State Of Qatar (S) XS0801656330 18-Jan-23 2000 200/1 100 USD Fixed 3.241 102.75 104.25 2.61 AA /Aa2 /-

Tunisia US066716AG65 16-Jul-19 485 200/1 100 USD Fixed 1.686 99.00 101.00 1.43 Not Rated

Tunisia (Banque Centrale de.) XS0222293382 22-Jun-20 400 50/1 100 EUR Fixed 4.500 102.38 104.38 3.52 NR /Ba3 /WD

Tunisia (Banque Centrale de.) US066716AB78 19-Sep-27 150 1/1 100 USD Fixed 8.250 115.88 117.88 6.14 NR /Ba3 /WD


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

United Rep Of Tanzania XS0896119897 09-Mar-20 600 200/1 100 USD FRN 6.397 100.13 102.63 5.80 Not Rated

Mumtalakat Sukuk Holding (S) XS1143085014 25-Nov-21 600 200/1 100 USD Fixed 4.000 99.75 101.25 3.78 BBB- /- /BBB-

Dubai Holding Comm Op XS0285303748 01-Feb-17 500 50/50 100 GBP Fixed 6.000 102.25 103.75 3.48 NR /WR /WD

IPIC XS0860583672 30-Nov-15 750 200/1 100 USD Fixed 1.750 99.75 100.75 -0.18 AA /Aa2 /AA

IPIC XS0558268628 15-Nov-15 1000 250/1 100 USD Fixed 3.125 100.25 101.25 -0.47 AA /Aa2 /AA

IPIC XS0605558856 14-May-16 1250 100/1 100 EUR Fixed 4.875 103.38 104.38 -0.30 AA /Aa2 /AA

IPIC XS0701035320 01-Mar-17 1500 200/1 100 USD Fixed 3.750 103.38 104.38 1.05 AA /Aa2 /AA

IPIC XS0860583912 30-May-18 800 100/1 100 EUR Fixed 2.375 104.75 105.75 0.37 AA /Aa2 /AA

IPIC XS0558268891 15-Nov-20 1500 250/1 100 USD Fixed 5.000 111.13 112.13 2.56 AA /Aa2 /AA

IPIC XS0605559821 14-Mar-21 1250 100/1 100 EUR Fixed 5.875 123.38 124.88 1.30 AA /Aa2 /AA

IPIC XS0701035676 01-Mar-22 1500 200/1 100 USD Fixed 5.500 114.00 115.00 2.99 AA /Aa2 /AA

IPIC XS0860584308 30-May-23 850 100/1 100 EUR Fixed 3.625 113.63 114.63 1.63 AA /Aa2 /AA

IPIC XS0701227075 01-Nov-41 750 200/1 100 USD Fixed 6.875 135.63 137.63 4.44 AA /Aa2 /AA

Kuwait Projects Co XS0457137841 17-Oct-16 500 100/1 100 USD Fixed 8.875 107.13 108.63 1.96 BBB- /Baa3 /-

Kuwait Projects Co XS1026105806 05-Feb-19 500 200/1 100 USD Fixed 4.800 104.50 106.00 3.01 BBB- /Baa3 /-

Kuwait Projects Co XS0526235535 15-Jul-20 500 100/1 100 USD Fixed 9.375 124.75 127.75 3.32 BBB- /Baa3 /-

Mubadala XS0613313104 20-Apr-16 750 200/1 100 USD Fixed 3.750 101.63 102.63 0.36 AA /Aa2 /AA

Mubadala XS0426993571 06-May-19 500 250/1 100 USD Fixed 7.625 119.63 120.63 1.99 AA /Aa2 /AA



Yasar Holdings XS1132450427 06-May-20 250 200/1 100 USD Fixed 8.875 104.13 106.63 7.06 - /B2 /B

Zagrebacki Holding Doo XS0309688918 10-Jul-17 300 50/50 100 EUR Fixed 5.500 94.75 96.25 7.59 B /Ba2 /-

Abu Dhabi Comm. Bk. (S) XS0708308845 22-Nov-16 500 200/1 100 USD Fixed 4.071 103.13 104.13 1.02 A /A1u /A+

Abu Dhabi Comm. Bk. XS0897453907 06-Mar-18 750 200/1 100 USD Fixed 2.500 100.25 101.75 1.82 A /A1u /A+

Abu Dhabi Comm. Bk. XS1040257062 04-Mar-19 750 200/1 100 USD Fixed 3.000 101.13 102.63 2.24 A /NR /A+

Abu Dhabi Comm. Bk. XS1110651012 16-Sep-19 600 200/1 100 USD Fixed 2.750 99.75 101.25 2.43 A /NR /A+

Adcb Finance Cayman Ltd XS1199968998 10-Mar-20 750 200/1 100 USD Fixed 2.625 99.00 100.50 2.51 A /- /A+

Abu Dhabi Comm. Bk. XS0897453493 06-Mar-23 750 200/1 100 USD Fixed 4.500 102.25 103.75 3.93 A- /NR /A

Abu Dhabi Comm. Bk. AU3CB0221414 28-May-19 250 10/10 100 AUD Fixed 4.750 101.88 103.38 3.80 A /- /A+

Abu Dhabi Islm. Bank (S) XS0556042405 04-Nov-15 750 100/1 100 USD Fixed 3.745 99.88 101.38 -0.60 - /A2 /A+

Diversified

Financial Institutions


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abu Dhabi Islm. Bank (S) XS0711035286 30-Nov-16 500 200/1 100 USD Fixed 3.780 102.25 103.75 1.05 - /A2 /A+

Access Bank Plc XS0807677496 25-Jul-17 350 200/1 100 USD Fixed 7.250 97.88 99.88 7.31 B+ /- /B

Access Bank Plc XS1078208334 24-Jun-21 400 200/1 100 USD Variable 9.250 94.63 96.63 10.31 B- /- /B-

ADIB Tier 1 (S) XS0851081660 Perpetual 1000 200/1 100 USD Variable 6.375 104.13 105.63 4.50 Not Rated

Africa Finance Corp XS1225008538 29-Apr-20 750 200/1 100 USD Fixed 4.375 100.38 102.38 3.83 - /A3 /-

African Bank Limited XS0638008051 15-Jun-16 350 200/1 100 USD Flat Trading 6.000 62.88 82.88 28.77 - /Caa2 /-

African Bank Limited XS0751016865 24-Feb-17 350 200/1 100 USD Flat Trading 8.125 65.38 85.38 21.59 - /Caa2 /-

African Export-Import Ba XS0650262875 27-Jul-16 500 200/1 100 USD Fixed 5.750 102.25 104.25 1.64 NR /Baa2 /BBB-

African Export-Import Ba XS0938043766 04-Jun-18 500 200/1 100 USD Fixed 3.875 99.13 101.13 3.46 NR /Baa2 /BBB-

African Export-Import Ba XS1091688660 29-Jul-19 700 200/1 100 USD Fixed 4.750 101.13 103.13 3.91 - /Baa2 /BBB-

AK Lease XS0914394688 17-Apr-18 250 200/1 100 USD Fixed 4.125 98.25 100.25 4.03 - /- /BBB-

Akbank USM0300LAA46 22-Jul-15 1000 100/1 100 USD Fixed 5.125 98.50 100.50 -14.45 - /Baa3 /BBB-

Akbank USM0375YAJ75 24-Oct-17 500 150/1 100 USD Fixed 3.875 100.13 102.13 2.90 - /Baa3 /BBB-

Akbank USM0300LAC02 09-Mar-18 500 150/1 100 USD Fixed 6.500 106.13 108.13 3.28 - /Baa3 /BBB-

Akbank Tas XS1111101314 24-Jan-20 500 200/1 100 USD Fixed 4.000 96.50 98.50 4.37 - /Baa3 /BBB-

Akbank USM0375YAK49 24-Oct-22 500 150/1 100 USD Fixed 5.000 98.50 100.50 4.92 - /Baa3 /BBB-

Akbank XS1210422074 31-Mar-25 500 200/1 100 USD Fixed 5.125 95.13 96.63 5.58 - /Baa3 /BBB-

Albaraka Turk Katilim Ba (S) XS1082151868 30-Jun-19 350 200/1 100 USD Fixed 6.250 100.50 102.50 5.54 BB /- /-

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

Al Hilal Bank (S) XS0977488294 08-Oct-18 500 200/1 100 USD Fixed 3.267 101.75 103.75 2.07 - /A1 /A+

Al Hilal Bank Tier 1 (S) XS1073217561 Perpetual 500 200/1 100 USD Variable 5.500 101.13 103.13 4.63 Not Rated

Ahli United Bank XS1133289832 Perpetual 400 200/1 100 USD Variable 6.875 102.75 104.75 5.73 Not Rated

Alternatifbank As XS1089556358 22-Jul-19 250 200/1 100 USD Fixed 3.125 99.25 101.25 2.79 - /- /A+

Astra Sedaya Finance Pt XS1210971682 01-Apr-18 300 200/1 100 USD Fixed 2.875 99.00 100.50 2.68 - /Baa3 /BBB-

Axis Bank/Dubai XS0463466028 30-Sep-15 350 100/1 100 USD Fixed 5.250 99.13 101.13 0.16 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAA64 02-May-16 500 100/1 100 USD Fixed 4.750 100.75 102.75 1.29 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAB48 05-Sep-17 750 200/1 100 USD Fixed 5.125 104.75 106.25 2.13 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAC21 21-May-20 750 200/1 100 USD Fixed 3.250 98.88 100.88 3.05 BBB- /Baa3 /BBB-

Axis Bank/Singapore XS0308100667 28-Jun-22 60 100/1 100 USD Variable 7.125 102.75 105.25 4.31 - /Ba2 /-

Banco Daycoval Sa XS1046809171 19-Mar-19 500 150/1 100 USD Fixed 5.750 102.50 104.50 4.41 BB+ /Baa3 /BBB-

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

Banco Do Brasil XS0955552178 25-Jul-18 1000 100/1 100 EUR Fixed 3.750 101.63 103.63 2.50 BBB- /Baa2 /BBB

Banco Industr E Comrcl XS0552649021 25-Oct-15 400 100/1 100 USD Fixed 5.250 99.13 101.13 1.35 - /Baa3 /-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Bank Asya Tier 2 (S) XS0907295942 28-Mar-23 250 200/1 100 USD Variable 7.500 71.75 78.75 17.66 - /C /-

Bk Of Moscow (Kuznetski) XS0236336045 25-Nov-15 300 100/1 100 USD Variable 5.967 96.00 101.00 3.24 - /B1 /WD

Bank Muscat Saog XS0908549685 26-Mar-18 500 200/1 100 USD Fixed 2.500 98.88 100.88 2.16 A- /A1 /A-

Bank of Bahrain & Kuwait XS0553706135 28-Oct-15 500 100/1 100 USD Fixed 4.500 100.13 101.63 -0.91 - /Baa3 /BBB-

Bank Of Baroda/London XS0483734298 07-Oct-15 350 100/1 100 USD Fixed 4.750 99.63 101.13 0.07 - /Baa3 /BBB-

Bank Of Baroda/London XS0594008517 24-Aug-16 500 200/1 100 USD Fixed 5.000 102.38 103.88 1.50 - /Baa3 /BBB-

Bank Of Baroda/London USY04342AA28 23-Jul-19 1000 200/1 100 USD Fixed 4.875 106.00 107.50 2.89 - /Baa3 /BBB-

Bank Of Baroda/London XS0301888615 25-May-22 300 100/1 100 USD Variable 6.625 102.38 104.88 3.90 NR /Ba2 /B+

Bank Of Ceylon USY0646EAR37 03-May-17 500 200/1 100 USD Fixed 6.875 101.50 104.00 4.54 - /B1 /BB-

Bank Of Ceylon XS0914798268 16-Apr-18 500 200/1 100 USD Fixed 5.325 98.75 101.25 4.83 - /- /BB-

Bank Of China US06120TAA60 13-Nov-24 3000 200/1 100 USD Fixed 5.000 101.63 103.13 4.58 BBB+ /Baa3 /BBB+

Bank Of China XS1122780106 Perpetual 39940 2000/10 100 CNY Variable 6.750 104.25 106.25 5.08 BB- /Ba2 /-

Bank Of India London XS0498932721 30-Sep-15 750 100/1 100 USD Fixed 4.750 99.50 101.00 0.24 BBB- /Baa3 /-

Bank Of India London USY06865AA04 21-Sep-18 500 200/1 100 USD Fixed 3.625 101.13 103.13 2.60 BBB- /Baa3 /-

Bank Of India/Jersey XS1227592703 06-May-20 750 200/1 100 USD Fixed 3.125 97.63 99.63 3.21 BBB- /Baa3 /-

Bank Of India London XS0592238876 16-Feb-21 500 200/1 100 USD Fixed 6.250 111.50 113.50 3.57 BBB- /Baa3 /-

Bank Of India/Jersey XS0294208235 Perpetual 85 100/1 100 USD Variable 6.994 101.00 103.00 5.15 B+ /B3 /-

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

Bank Saudi Fransi (S) XS0784910431 22-May-17 750 200/1 100 USD Fixed 2.947 101.38 103.38 1.11 A /- /A

Bawag P.S.K. XS0987169637 30-Oct-23 300 100/100 100 EUR Fixed 8.125 122.13 123.13 4.69 - /Ba1 /-

Banque Marocaine Du Comm XS0998123037 27-Nov-18 300 200/1 100 USD Fixed 6.250 104.63 105.63 4.44 - /Ba1 /-

Bbk XS1207170736 24-Mar-20 400 200/1 100 USD Fixed 3.500 98.13 99.13 3.70 - /Baa3 /BBB-

Burgan Bank XS0545106592 29-Sep-20 400 100/1 100 USD Fixed 7.875 113.63 115.63 4.48 BBB /Ba1 /-

Burgan Tier 1 Financing XS1106874198 Perpetual 500 200/1 100 USD Variable 7.250 99.25 101.25 6.90 Not Rated

Canara Bank London XS0595649608 09-Sep-16 350 200/1 100 USD Fixed 5.125 101.13 104.13 1.53 - /Baa3 /BBB-

Cbq Finance Ltd XS1079720212 24-Jun-19 750 200/1 100 USD Fixed 2.875 101.88 102.88 2.11 A- /A1 /-

Charming Light Investmen XS1104029027 03-Sep-19 1100 200/1 100 USD Fixed 3.750 99.50 101.50 3.36 - /Baa1 /A-

China Overseas Finance XS0984184316 29-Oct-18 500 200/1 100 USD Fixed 3.375 100.00 102.00 2.74 BBB+ /Baa1 /BBB+

Citic Securities Fin Mtn XS1130968453 30-Oct-19 650 200/1 100 USD Fixed 3.500 99.75 101.25 3.19 BBB+ /Baa1 /-

Commercial Bank Of Dubai XS0933999863 21-May-18 500 200/1 100 USD Fixed 3.375 101.63 103.13 2.24 - /Baa1 /A-

Commercial Bank of Qatar XS0771860003 11-Apr-17 500 200/1 100 USD Fixed 3.375 102.13 104.13 0.99 A- /A1 /-

Commercial Bank of Qatar XS0466365383 18-Nov-19 600 100/1 100 USD Fixed 7.500 118.50 120.50 2.50 BBB+ /Baa1 /-

Credit Bank of Moscow XS0924078453 13-Nov-18 500 200/1 100 USD Fixed 8.700 87.63 90.63 12.19 - /NR /BB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Credit Bank of Moscow XS0879105558 01-Feb-18 500 200/1 100 USD Fixed 7.700 96.38 99.38 7.97 BB- /B1 /BB

Diamond Bank Plc XS1069387923 21-May-19 200 200/1 100 USD Fixed 8.750 95.13 97.63 9.49 B /- /B

Doha Bank XS0757032445 14-Mar-17 500 200/1 100 USD Fixed 3.500 102.25 103.75 1.23 A- /A2 /A+

Dubai Islamic Bank (S) XS0787130540 30-May-17 500 200/1 100 USD Fixed 4.752 103.63 105.63 1.71 - /Baa1 /A

Dib Sukuk Ltd (S) XS1241110300 03-Jun-20 750 200/1 100 USD Fixed 2.921 98.75 100.25 2.87 - /Baa1 /A

Dib Tier 1 Sukuk Ltd (S) XS0902330769 Perpetual 1000 200/1 100 USD Variable 6.250 102.38 104.38 4.94 Not Rated

Dib Tier 1 Sukuk 2 Ltd (S) XS1167284436 Perpetual 1000 200/1 100 USD Variable 6.750 104.25 106.25 5.43 Not Rated

Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 102.75 104.75 4.84 - /Ba1 /BB

Ebn Finance Co Bv XS1093771639 14-Aug-21 250 200/1 100 USD Variable 8.750 91.50 93.50 10.75 B- /- /-

Emirates Bank XS0272489187 31-Oct-16 83 100/1 100 USD FRN 1.478 93.75 98.75 2.45 NR /Baa3 /A

Emirates Bank XS0765257141 28-Mar-17 1000 200/1 100 USD Fixed 4.625 103.25 104.75 1.80 - /Baa1 /A+

Emirates Islamic Bank (S) XS0731642491 18-Jan-17 500 200/1 100 USD Fixed 4.718 103.25 104.75 1.55 - /Baa1 /A+

Emirates Islamic Bank (S) XS0803231827 11-Jan-18 500 200/1 100 USD Fixed 4.147 103.25 104.75 2.19 - /Baa1 /A+

Emirates Nbd Pjsc XS1138457590 19-Nov-19 1000 200/1 100 USD Fixed 3.250 100.00 101.50 2.88 - /Baa1 /A+

Emirates Nbd Pjsc XS1227814883 06-May-20 350 200/1 100 USD Fixed 3.000 99.25 100.75 2.83 - /Baa1 /A+

Emirates NBD XS0910935021 28-Mar-23 750 200/1 100 USD Variable 4.875 103.63 105.13 2.90 - /NR /A

Emirates NBD Tier 1 XS0935833292 Perpetual 1000 200/1 100 USD Variable 5.750 100.00 102.00 5.17 Not Rated

Emirates Nbd 2014 Tier 1 XS1111114135 Perpetual 500 200/1 100 USD Variable 6.375 101.50 103.50 5.59 Not Rated

Emirates Nbd Pjsc XS1207079499 23-Mar-22 550 100/1 100 EUR Fixed 1.750 94.13 95.63 2.46 - /Baa1 /A+

Emirates Nbd Pjsc AU3CB0220861 08-May-19 400 10/10 100 AUD Fixed 5.750 104.38 106.38 3.93 - /Baa1 /A+

Export Credit Bank Of Tu XS1028943089 23-Sep-21 500 200/1 100 USD Fixed 5.000 100.00 102.00 4.62 BB+ /Baa3 /BBB-

Export-Import Bk India XS0813393849 07-Aug-17 500 200/1 100 USD Fixed 4.000 102.38 104.38 1.84 BBB- /Baa3 /-

Export-Import Bk India XS1050464996 02-Oct-19 500 200/1 100 USD Fixed 3.875 102.63 104.63 2.71 BBB- /Baa3 /-

Export-Import Bk India XS1165130219 12-Aug-20 500 200/1 100 USD Fixed 2.750 97.38 99.38 2.88 BBB- /Baa3 /-

Export-Import Bk India XS0872917660 14-Jan-23 750 200/1 100 USD Fixed 4.000 100.25 101.75 3.73 BBB- /Baa3 /-

First Bank of Nigeria XS0957590689 07-Aug-20 300 200/1 100 USD Variable 8.250 93.00 96.00 9.78 B- /- /B-

First Bank of Nigeria XS1090370104 23-Jul-21 450 200/1 100 USD Variable 8.000 90.50 93.00 10.15 B- /- /B-

Fidelity Bank Plc XS0928527257 09-May-18 300 200/1 100 USD Fixed 6.875 90.00 92.50 9.97 B /- /B

Finansbank As XS0849733273 01-Nov-17 350 200/1 100 USD Fixed 5.150 99.13 102.13 4.17 - /Ba2 /BBB-

Finansbank As USM4R36CAA80 11-May-16 500 200/1 100 USD Fixed 5.500 99.38 102.38 2.57 - /Ba2 /BBB-

Finansbank As XS1063442484 30-Apr-19 500 200/1 100 USD Fixed 6.250 99.63 102.63 5.47 - /Ba2 /BBB-

First Gulf Bank XS0840538994 09-Oct-17 650 200/1 100 USD Fixed 2.862 101.63 102.63 1.66 - /A2 /A+


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

First Gulf Bank (S) XS0654587996 02-Aug-16 650 200/1 100 USD Fixed 3.797 101.63 103.13 0.83 - /A2 /A+

First Gulf Bank (S) XS0731930797 18-Jan-17 500 200/1 100 USD Fixed 4.046 103.00 104.50 1.06 - /A2 /A+

First Gulf Bank XS1193304596 24-Feb-20 750 200/1 100 USD Fixed 2.625 98.75 100.25 2.57 - /A2 /A+

Firstrand Bank Ltd XS0635404477 09-Jun-16 500 200/1 100 USD Fixed 4.375 101.75 103.25 0.80 BBB- /Baa2 /BBB

Gazprombk (Gpb Finance) XS0779213460 03-May-19 500 200/1 100 USD Fixed 7.250 93.88 97.88 7.90 BB- /B2 /BB

Gazprombk (Gpb Finance) XS1040726587 05-Sep-19 750 200/1 100 USD Fixed 4.960 90.38 94.38 6.52 BB+ /- /BB+

Gazprombk (Gpb Finance) XS0975320879 28-Dec-23 750 200/1 100 USD Variable 7.496 81.63 86.63 12.35 - /NR /B+

Gazprombk (Gpb Finance) XS0848137708 Perpetual 1000 200/1 100 USD Variable 7.875 76.13 79.13 17.64 - /NR /-

GIC Funding Ltd XS0859236092 28-Nov-17 500 200/1 100 USD Fixed 3.250 101.38 102.88 2.01 - /A2 /-

GIC Funding Ltd CH0198380237 16-Nov-15 300 5/5 100 CHF Fixed 2.750 99.88 101.38 -1.16 - /A2 /-

Guaranty Trust Bank XS0628652884 19-May-16 500 200/1 100 USD Fixed 7.500 101.25 103.25 3.61 B+ /- /B+

Guaranty Trust Bank XS0992162635 08-Nov-18 400 200/1 100 USD Fixed 6.000 95.25 97.25 6.94 B+ /- /B+

Gulf International Bank XS0863496633 11-Dec-17 500 200/1 100 USD Fixed 2.375 99.00 101.00 1.95 BBB+ /A3 /A

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

Haitong Intl Fin 2015 XS1170096454 29-Jul-20 700 200/1 100 USD Fixed 4.200 99.13 101.13 3.95 BBB /- /-

Hdfc Bank Ltd/Bah XS0897434949 06-Mar-18 500 200/1 100 USD Fixed 3.000 100.13 102.13 2.17 BBB- /Baa3 /-

Huarong Finance Co Ltd XS1086081707 17-Jul-17 300 200/1 100 USD Fixed 3.000 100.13 101.63 2.17 BBB+ /Baa1 /A

Huarong Finance Co Ltd XS1088292815 17-Jul-19 1200 200/1 100 USD Fixed 4.000 101.13 102.63 3.30 BBB+ /Baa1 /A

Icd Sukuk Co Ltd (S) XS1069869839 21-May-20 700 200/1 100 USD Fixed 3.508 98.50 100.50 3.39 Not Rated

Icd Funding Ltd XS1069870415 21-May-24 300 200/1 100 USD Fixed 4.625 98.75 100.75 4.52 Not Rated

Icici Bank Ltd/Dubai US45112FAC05 21-Feb-18 1000 200/1 100 USD Fixed 4.700 104.50 106.00 2.31 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAE60 22-May-19 1000 200/1 100 USD Fixed 4.800 105.75 107.25 2.80 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAG19 18-Mar-20 700 200/1 100 USD Fixed 3.500 101.25 102.75 2.87 BBB- /Baa3 /BBB-

IDBI Bank XS0832492267 26-Mar-18 500 200/1 100 USD Fixed 4.375 102.25 103.75 2.92 BB+ /Baa3 /BBB-

IDBI Bank XS0908349912 25-Jan-19 500 200/1 100 USD Fixed 3.750 99.88 101.38 3.33 BB+ /Baa3 /BBB-

IDBI Bank XS1048474396 25-Sep-19 300 200/1 100 USD Fixed 5.000 103.88 105.38 3.61 BB+ /Baa3 /BBB-

IDBI Bank XS1128264758 23-Apr-20 350 200/1 100 USD Fixed 4.125 100.50 102.00 3.66 BB+ /Baa3 /BBB-

Indian Overseas Bank/Hk XS0615783239 19-Oct-16 500 200/1 100 USD Fixed 5.000 103.00 104.00 1.81 BB+ /(P)Ba1 /-

Indian Overseas Bank/Hk XS0773015853 21-Feb-18 500 200/1 100 USD Fixed 4.625 102.88 104.38 2.87 BB+ /Ba1 /-

Ind & Comm Bk Chn/Dubai XS1237348070 26-May-20 500 200/1 100 USD Fixed 2.625 98.25 99.75 2.68 - /A1 /-

Int. Bank of Azerbaijan XS1076436218 11-Jun-19 500 200/1 100 USD Fixed 5.625 96.00 98.00 6.21 - /Ba3 /BB

Investcorp Sa XS0847495248 01-Nov-17 250 200/1 100 USD Fixed 8.250 106.00 108.50 4.34 - /Ba2 /BB

Investec Bank Ltd XS0807715098 24-Jul-17 300 200/1 100 USD Fixed 3.875 100.50 102.50 2.61 - /Baa2 /BBB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Itau Unibanco Hldg Sa/Ky US46556MAB81 22-Jan-21 1250 100/1 100 USD Fixed 5.750 104.38 105.88 4.53 - /Baa3 /BBB-

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

Kuveyt Turk (S) XS0698260758 31-Oct-16 350 200/1 100 USD Fixed 5.875 103.38 104.88 2.06 - /- /BBB

Kuveyt Turk (S) XS1079236169 26-Jun-19 500 200/1 100 USD Fixed 5.162 103.25 104.75 3.86 - /- /BBB

Mashreqbank XS0283928264 24-Jan-17 354 100/100 100 USD FRN 1.402 94.25 98.25 2.56 BBB /Ba2 /A-

Mubadala Ge Capital Ltd US62476BAA89 10-Nov-19 500 200/1 100 USD Fixed 3.000 98.38 100.38 2.91 - /Baa2 /A

National Bank of Egypt XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 95.63 100.63 -3.71 - /B3 /B

National Bk Of Abu Dhabi XS0763531406 27-Mar-17 750 200/1 100 USD Fixed 3.250 102.63 103.63 1.11 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0206068 07-Mar-18 300 10/10 100 AUD Fixed 5.000 103.75 104.75 3.12 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0219392 19-Mar-19 400 10/10 100 AUD Fixed 4.750 103.63 104.63 3.40 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS0815939656 13-Aug-19 750 200/1 100 USD Fixed 3.000 102.38 103.38 2.13 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1186986904 11-Feb-20 750 200/1 100 USD Fixed 2.250 98.88 99.88 2.28 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1243334668 Perpetual 750 200/1 100 USD Variable 5.250 101.13 102.63 4.65 BBB- /Baa3 /-

National Bank of Kuwait Tier 1 XS1206972348 Perpetual 700 200/1 100 USD Variable 5.750 101.25 102.75 5.19 - /Baa3 /-

National Savings Bank USY62526AA99 18-Sep-18 750 200/1 100 USD Fixed 8.875 107.13 109.13 5.69 B+ /- /BB-

Nile Finance Ltd XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 98.50 100.50 -1.90 - /B3 /B

Noor Sukuk Co Ltd (S) XS1224417847 28-Apr-20 500 200/1 100 USD Fixed 2.788 98.00 99.50 2.90 - /- /A-

Qatar Islamic Bank (S) XS0545395765 07-Oct-15 750 100/1 100 USD Fixed 3.856 100.13 101.13 -0.80 - /- /A+

Qatar Islamic Bank (S) XS0841096497 10-Oct-17 750 200/1 100 USD Fixed 2.500 101.13 102.63 1.31 - /- /A+

Qatar National Bank XS0559355135 16-Nov-15 1500 200/1 100 USD Fixed 3.125 100.13 101.13 -0.10 A+ /Aa3 /AA-

Qatar National Bank XS0748305017 22-Feb-17 1000 200/1 100 USD Fixed 3.375 102.25 103.75 1.03 A+ /Aa3 /AA-

Qatar National Bank XS0854469599 14-Feb-18 1000 200/1 100 USD Fixed 2.125 99.63 101.13 1.68 A+ /Aa3 /AA-

QIIB Sukuk Funding Ltd (S) XS0843912808 18-Oct-17 700 200/1 100 USD Fixed 2.688 101.63 102.63 1.51 - /A2 /A+

Rakfunding Cayman Ltd XS1078355986 24-Jun-19 800 200/1 100 USD Fixed 3.250 99.88 101.38 2.88 - /Baa1 /BBB+

Russian Agricultural Bank XS0796426228 27-Dec-17 1300 200/1 100 USD Fixed 5.298 97.13 99.13 5.68 - /Ba2 /BB+

Russian Agricultural Bank XS0955232854 25-Jul-18 1300 200/1 100 USD Fixed 5.100 94.13 96.63 6.33 - /Ba2 /BB+

Saudi British Bank XS0559277743 12-Nov-15 600 100/100 100 USD Fixed 3.000 100.13 101.13 -0.33 A /- /A

Sberbank (Sb Cap Sa) XS0799357354 28-Jun-19 1000 200/1 100 USD Fixed 5.180 95.38 97.38 5.93 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0897427570 04-Mar-18 550 300/1 100 TRY Fixed 7.400 85.63 87.63 13.06 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0848530977 29-Oct-22 2000 200/1 100 USD Fixed 5.125 84.88 86.88 7.49 - /Ba2 /BB+

Sberbank (Sb Cap Sa) XS0935311240 23-May-23 1000 200/1 100 USD Fixed 5.250 79.88 81.88 8.45 - /- /BB+

Sberbank (Sb Cap Sa) XS1032750165 26-Feb-24 1000 200/1 100 USD Variable 5.500 82.50 84.50 10.77 - /- /BB+

SIB Sukuk Co. Ltd (S) XS0625554836 25-May-16 400 200/1 100 USD Fixed 4.715 102.50 103.50 0.69 BBB+ /- /BBB+


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

SIB Sukuk Co. Ltd (S) XS0916902769 16-Apr-18 500 200/1 100 USD Fixed 2.950 101.13 102.13 2.15 BBB+ /- /BBB+

State Bank India/London USU85528AB04 01-Aug-17 1250 200/1 100 USD Fixed 4.125 102.88 104.38 1.93 BBB- /Baa3 /BBB-

State Bank India/London USY81636AC94 18-Apr-18 1000 200/1 100 USD Fixed 3.250 101.13 102.63 2.26 BBB- /Baa3 /BBB-

State Bank India/London USY81647AA02 17-Apr-19 750 200/1 100 USD Fixed 3.622 101.88 103.38 2.67 BBB- /Baa3 /BBB-

State Bank India/London USY81647AB84 17-Apr-24 500 200/1 100 USD Fixed 4.875 105.38 106.88 3.94 BBB- /Baa3 /BBB-

State Bank Of India XS0287244627 Perpetual 400 100/1 100 USD Variable 6.439 101.25 104.25 4.02 BB /B1 /B

State Bank Of India XS0307996586 Perpetual 225 100/1 100 USD Variable 7.140 102.13 105.13 4.38 BB /B1 /-

Syndicate Bank/London XS0620328392 06-Nov-16 500 200/1 100 USD Fixed 4.750 101.00 104.00 1.68 BBB- /Baa3 /-

Syndicate Bank XS0841358103 12-Apr-18 500 200/1 100 USD Fixed 4.125 102.75 104.25 2.52 BBB- /Baa3 /-

Tamweel (S) XS0734046815 18-Jan-17 300 200/1 100 USD Fixed 5.154 103.13 105.13 1.72 - /Baa1 /A

Tc Ziraat Bankasi As XS1083936028 03-Jul-19 750 200/1 100 USD Fixed 4.250 98.75 100.75 4.04 - /Baa3 /BBB-

Turkiye Finans Varlik Kiralama (S) XS0922143382 02-May-18 500 200/1 100 USD Fixed 3.950 99.13 101.13 3.52 - /- /BBB

Turkiye Finans Varlik Kiralama (S) XS1057852912 24-Apr-19 500 200/1 100 USD Fixed 5.375 102.63 104.63 4.04 - /- /BBB

Turkiye Garanti Bankasi USM8931TAE93 13-Sep-17 600 200/1 100 USD Fixed 4.000 100.25 102.25 2.92 - /Baa3 /BBB-

Turkiye Garanti Bankasi XS1057541838 17-Oct-19 750 200/1 100 USD Fixed 4.750 100.38 102.38 4.13 - /Baa3 /BBB-

Turkiye Garanti Bankasi USM8931TAF68 13-Sep-22 750 200/1 100 USD Fixed 5.250 100.50 102.50 4.83 - /Baa3 /BBB-

Turkiye Garanti Bankasi XS0935802495 23-May-18 175 200/1 100 AUD Fixed 5.500 99.75 101.75 4.83 - /Baa3 /BBB-

Turkiye Halk Bankasi XS0806482948 19-Jul-17 750 200/1 100 USD Fixed 4.875 101.88 103.88 2.89 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1069383856 04-Jun-19 500 200/1 100 USD Fixed 4.750 100.00 102.00 4.19 - /Baa3 /BBB-

Turkiye Halk Bankasi XS0882347072 05-Feb-20 750 200/1 100 USD Fixed 3.875 95.38 97.38 4.52 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1188073081 11-Feb-21 500 200/1 100 USD Fixed 4.750 97.75 99.75 4.80 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0852697712 07-Nov-17 500 200/1 100 USD Fixed 3.875 99.50 102.00 2.98 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0982644774 21-Apr-19 500 200/1 100 USD Fixed 5.500 102.75 105.25 3.99 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS1079527211 25-Jun-21 750 200/1 100 USD Fixed 5.000 99.13 101.13 4.78 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0847042024 24-Oct-22 1000 200/1 100 USD Fixed 6.000 98.75 101.25 5.79 - /Ba2 /BB+

Turkiye Is Bankasi A.S XS0808632250 10-Oct-18 750 200/1 100 USD Fixed 3.750 99.13 100.13 3.71 - /Baa3 /BBB-

Turkiye Sinai Kalkinma B XS1117601796 30-Oct-19 350 200/1 100 USD Fixed 5.375 101.00 103.00 4.60 - /Baa3 /BBB-

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

Turkiye Vakiflar Bankasi XS0916347759 15-Apr-18 600 200/1 100 USD Fixed 3.750 98.25 100.25 3.65 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0987355939 31-Oct-18 500 200/1 100 USD Fixed 5.000 101.38 103.38 3.90 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS1077629225 17-Jun-19 500 100/1 100 EUR Fixed 3.500 99.88 101.88 2.99 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0849728190 01-Nov-22 900 200/1 100 USD Fixed 6.000 97.25 99.25 6.13 - /Ba2 /BB+

Turkiye Vakiflar Bankasi XS1175854923 03-Feb-25 500 200/1 100 USD Variable 6.875 97.88 99.88 6.90 - /Ba3 /BB+


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Union Bank Of India Hk XS0819566182 22-Aug-17 350 200/1 100 USD Fixed 4.625 103.50 105.00 2.19 BBB- /Baa3 /-

Union Bank Of India Hk XS0923436264 25-Oct-18 350 200/1 100 USD Fixed 3.625 101.50 103.00 2.67 BBB- /Baa3 /-

Union Bank Of India Hk XS1062051161 28-Oct-19 350 200/1 100 USD Fixed 4.500 104.50 106.00 3.00 BBB- /Baa3 /-

Vnesheconombank(Veb) XS0524610812 09-Jul-20 1600 100/1 100 USD Fixed 6.902 95.25 98.25 7.33 BB+ /- /BBB-

VTB Bank XS0592794597 22-Feb-18 698 200/1 100 USD Fixed 6.315 98.13 101.13 5.84 BB+ /Ba1 /WD

VTB Bank XS0772509484 12-Apr-17 2000 200/1 100 USD Fixed 6.000 98.25 101.25 5.24 - /Ba1 /WD

VTB Bank XS0842078536 17-Oct-22 1500 200/1 100 USD Fixed 6.950 87.50 90.50 8.74 BB- /Ba3 /WD

Yapi Ve Kredi Bankasi As XS0994815016 03-Dec-18 500 200/1 100 USD Fixed 5.250 102.50 104.00 3.98 - /Baa3 /BBB

Yapi Ve Kredi Bankasi As XS1028938915 22-Oct-19 550 200/1 100 USD Fixed 5.125 101.25 102.75 4.41 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0874840688 22-Jan-20 500 200/1 100 USD Fixed 4.000 96.75 98.25 4.43 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0861979440 06-Dec-22 1000 200/1 100 USD Fixed 5.500 96.50 98.00 5.84 - /Ba2 /BBB-

Zenith Bank Plc XS1057929645 22-Apr-19 500 200/1 100 USD Fixed 6.250 95.63 97.63 6.97 B+ /- /B+

Aldar Sukuk (S) XS0993959583 03-Dec-18 750 200/1 100 USD Fixed 4.348 104.50 106.00 2.49 BBB- /Baa3 /-

China Os Grand Ocean Fin XS0996662853 23-Jan-19 400 200/1 100 USD Fixed 5.125 102.38 103.88 3.94 BBB- /Baa2 /BBB

Coca-Cola Icecek Uretim XS0975576165 01-Oct-18 500 200/1 100 USD Fixed 4.750 104.88 106.38 2.67 - /Baa3 /BBB

Country Garden Hldg Co USG24524AJ24 27-May-19 550 200/1 100 USD Fixed 7.875 103.38 105.38 6.28 BB+ /Ba1 /BB+

Country Garden Hldg Co USG24524AH67 04-Apr-21 750 200/1 100 USD Fixed 7.250 97.63 100.13 7.21 BB+ /Ba1 /-

Country Garden Hldg Co USG24524AG84 10-Jan-23 750 200/1 100 USD Fixed 7.500 97.00 99.00 7.68 BB+ /Ba1 /-

Damac (S) XS1054932154 09-Apr-19 650 200/1 100 USD Fixed 4.970 93.00 94.50 6.65 BB /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0997146203 25-Nov-16 300 200/1 100 USD Fixed 5.750 100.38 102.38 3.95 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0937237831 24-May-18 450 200/1 100 USD Fixed 5.750 100.63 102.63 4.76 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS1072498006 28-May-19 400 200/1 100 USD Fixed 6.500 102.38 104.38 5.24 B+ /- /-

Delhi International Airp XS1165980274 03-Feb-22 289 200/1 100 USD Fixed 6.125 100.00 102.00 5.75 BB /Ba1 /-

Difc Sukuk (S) XS1120403313 12-Nov-24 700 200/1 100 USD Fixed 4.325 99.50 101.00 4.19 BBB- /- /-

Dip Sukuk Ltd (S) XS1035007530 20-Feb-19 300 200/1 100 USD Fixed 4.291 101.38 103.38 3.29 BB+ /- /-

Edcon Ltd XS0596919026 01-Mar-18 250 150/1 100 USD Fixed 9.500 72.88 75.88 21.99 CCC- /Caa1 /-

Edcon Ltd XS0888936118 01-Mar-18 300 100/1 100 EUR Fixed 9.500 73.13 76.13 21.84 CCC- /Caa1 /-

Edcon Ltd XS0596918135 01-Mar-18 317 100/1 100 EUR Fixed 9.500 73.00 76.00 21.92 CCC- /Caa1 /-

Edcon Holdings Ltd XS0982713173 30-Jun-19 425 100/1 100 EUR Flat Trading 13.375 30.63 35.63 55.00 C /Ca /-

Emaar (S) XS0586840588 03-Aug-16 500 200/1 100 USD Fixed 8.500 105.50 107.50 1.37 BBB- /Ba1 /-

Emaar (S) XS0805885349 18-Jul-19 500 200/1 100 USD Fixed 6.400 111.50 113.50 2.83 BBB- /Ba1 /-

Emaar Mall Group Sukuk (S) XS1075401726 18-Jun-24 750 200/1 100 USD Fixed 4.564 102.38 103.88 4.04 BBB- /Baa2 /-

Real Estate / Tourism


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

FlyDubai (S) XS1137967409 26-Nov-19 500 200/1 100 USD Fixed 3.776 101.25 102.75 3.10 Not Rated

Franshion Brilliant Ltd XS1038803190 19-Mar-19 500 200/1 100 USD Fixed 5.750 104.50 106.50 3.84 BBB- /Baa3 /BBB-

Greenland Glb Invst XS1122384685 17-Oct-17 500 200/1 100 USD Fixed 3.500 99.13 101.13 2.98 BBB /Baa3 /BBB-

Indiabulls - Century Ltd XS1118059200 12-Nov-19 175 200/1 100 USD Fixed 10.250 93.13 95.63 11.55 B+ /B1 /B+

Jafz Sukuk Ltd (S) XS0794821453 19-Jun-19 650 200/1 100 USD Fixed 7.000 112.75 114.75 3.00 - /Ba1 /BBB-

King Power Capital Ltd XS1125289626 03-Nov-19 300 200/1 100 USD Fixed 3.875 101.13 103.13 3.09 BBB /Baa3 /-

King Power Capital Ltd XS1125272143 03-Nov-24 700 200/1 100 USD Fixed 5.625 103.88 105.88 4.83 BBB /Baa3 /-

Lodha Developers Intl Lt XS1148395582 13-Mar-20 200 200/1 100 USD Fixed 12.000 99.25 101.25 11.63 - /Ba3 /B+

Maf Global Securities XS0800825845 05-Jul-19 500 200/1 100 USD Fixed 5.250 107.13 109.13 2.81 BBB /- /BBB

Maf (S) XS0742399198 07-Feb-17 400 200/1 100 USD Fixed 5.850 104.75 106.75 1.50 BBB /- /BBB

Maf Global Securities XS1064799841 07-May-24 500 200/1 100 USD Fixed 4.750 102.63 104.13 4.18 BBB /- /BBB

Maf Global Securities XS0939678792 Perpetual 500 200/1 100 USD Variable 7.125 107.50 109.50 4.02 BB+ /- /BB+

Marfrig Holding Europe B USN54468AC22 20-Sep-21 51 200/1 100 USD Fixed 11.250 101.88 104.38 9.94 B+ /B2 /B+

Nakheel Sukuk (S) XS0624017371 25-Aug-16 4390 500/10 100 AED Fixed 10.000 105.50 107.50 3.13 Not Rated

Qatari Diar XS0527351570 21-Jul-15 1000 100/1 100 USD Fixed 3.500 99.00 100.50 -12.59 AA /Aa2 /-

Qatari Diar XS0527351653 21-Jul-20 2500 100/1 100 USD Fixed 5.000 110.88 112.38 2.37 AA /Aa2 /-

Shimao Ppty Hldng Ltd XS0872804207 14-Jan-20 800 200/1 100 USD Fixed 6.625 97.13 99.13 6.85 BB- /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1013209017 22-Jan-21 600 200/1 100 USD Fixed 8.125 100.38 102.38 7.49 BB- /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1157365070 10-Feb-22 1100 200/1 100 USD Fixed 8.375 99.63 101.63 8.00 BB- /Ba3 /BB+

Sino Ocean Lnd Trs Fin I XS1089807025 30-Jul-19 500 200/1 100 USD Fixed 4.625 100.63 102.63 3.92 BBB- /Baa3 /BBB-

Sino Ocean Lnd Trs Fin I XS1090864528 30-Jul-24 700 200/1 100 USD Fixed 6.000 101.63 103.63 5.49 BBB- /Baa3 /BBB-

Sunac China Holdings Ltd XS0909370651 05-Apr-18 500 200/1 100 USD Fixed 9.375 97.38 98.88 9.84 B /B2 /BB-

Vrg Linhas Aereas Sa USP98079AB59 12-Feb-23 35 200/1 100 USD Fixed 10.750 84.50 86.50 13.66 B /- /B-

Xinyuan Real Estate XS0998964935 06-Jun-19 200 200/1 100 USD Fixed 13.000 92.13 95.13 14.67 B- /- /B

Bahrain Telecom. XS0927183441 01-May-20 519 200/1 100 USD Fixed 4.250 100.25 101.75 3.85 BB+ /- /BBB-

Bharti Airtel Ltd USY0889VAA80 10-Jun-25 1000 200/1 100 USD Fixed 4.375 99.38 100.88 4.26 BBB- /Baa3 /BBB-

Banglalink Digital Comm USY0629LAA53 06-May-19 300 200/1 100 USD Fixed 8.625 101.00 103.00 7.70 BB- /B1 /-

Bharti Airtel Internatio XS1028954953 20-May-21 750 100/1 100 EUR Fixed 3.375 104.50 106.00 2.27 BBB- /Baa3 /BBB-

Bharti Airtel USN1384FAA32 11-Mar-23 1500 200/1 100 USD Fixed 5.125 104.88 106.38 4.14 BBB- /Baa3 /BBB-

Bharti Airtel Internatio USN1384FAB15 20-May-24 1000 200/1 100 USD Fixed 5.350 106.63 108.13 4.24 BBB- /Baa3 /BBB-

Etisalat XS1077881743 18-Jun-19 900 200/1 100 USD Fixed 2.375 100.25 101.25 2.04 AA- /Aa3 /A+

Etisalat XS1077883012 18-Jun-24 500 200/1 100 USD Fixed 3.500 101.88 102.88 3.13 AA- /Aa3 /A+

Telecommunications / IT


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Etisalat XS1077882121 18-Jun-21 1200 100/1 100 EUR Fixed 1.750 101.50 102.50 1.31 AA- /Aa3 /A+

Etisalat XS1077882394 18-Jun-26 1200 100/1 100 EUR Fixed 2.750 105.63 106.63 2.07 AA- /Aa3 /A+

Helios Towers Finance Nl XS1081230879 15-Jul-19 250 200/1 100 USD Fixed 8.375 86.88 89.38 11.77 B /- /B

Mtn Mauritius Invstments XS1128996425 11-Nov-24 750 200/1 100 USD Fixed 4.755 99.50 101.50 4.56 BBB /Baa2 /-

MTS International XS0921331509 30-May-23 500 200/1 100 USD Fixed 5.000 88.13 91.13 6.45 BB+ /Ba1 /BB+

Qatar Telecom XS0549116290 14-Oct-16 1000 200/1 100 USD Fixed 3.375 102.13 103.13 0.87 A- /A2 /A+

Qatar Telecom XS0432791571 10-Jun-19 600 100/1 100 USD Fixed 7.875 120.50 122.00 2.01 A- /A2 /A+

Qatar Telecom XS0549116530 16-Feb-21 1000 200/1 100 USD Fixed 4.750 107.50 109.50 2.90 A- /A2 /A+

Qatar Telecom XS0866438475 21-Feb-23 1000 200/1 100 USD Fixed 3.250 95.38 97.88 3.57 A- /A2 /A+

Qatar Telecom XS0551307100 19-Oct-25 750 200/1 100 USD Fixed 5.000 106.63 109.13 3.91 A- /A2 /A+

Qatar Telecom XS0880134258 31-Jan-28 500 200/1 100 USD Fixed 3.875 94.38 96.88 4.20 A- /A2 /A+

Qatar Telecom XS0881740384 31-Jan-43 500 200/1 100 USD Fixed 4.500 98.38 100.88 4.44 A- /A2 /A+

Millicom Intl Cellular XS1204091588 15-Mar-25 500 200/1 100 USD Fixed 6.000 96.38 98.38 6.22 - /Ba2 /BB+

Naspers USN5946FAA59 28-Jul-17 700 100/1 100 USD Fixed 6.375 105.50 107.50 2.58 - /Baa3 /BB+

Naspers USN5946FAB33 18-Jul-20 1000 200/1 100 USD Fixed 6.000 108.25 110.25 3.74 - /Baa3 /BB+

Oi Sa USP18445AG42 10-Feb-22 1500 200/1 100 USD Fixed 5.750 86.63 88.63 8.01 BB+ /Ba2 /BB+

Ottawa Holdings Pte Ltd USY6589AAA44 16-May-18 365 200/1 100 USD Fixed 5.875 77.25 79.25 15.12 BB- /B2 /-

Reliance Communication XS1216623022 06-Nov-20 300 200/1 100 USD Fixed 6.500 100.25 102.25 6.00 - /Ba3 /BB-

Rolta LLC USU77587AA83 16-May-18 127 200/1 100 USD Fixed 10.750 91.38 94.88 12.94 BB- /- /BB-

Rolta Americas Llc USU77583AA79 24-Jul-19 373 200/1 100 USD Fixed 8.875 81.75 84.75 13.95 BB- /- /BB-

Tbg Global Pte Ltd XS1165340883 10-Feb-22 350 200/1 100 USD Fixed 5.250 96.13 98.13 5.59 BB /- /BB

Telecom Italia Spa XS0195160329 24-Jun-19 850 50/50 100 GBP Fixed 6.375 108.25 109.75 3.68 BB+ /Ba1 /BBB-

Telemar Norte Leste Sa USP9037HAL70 23-Oct-20 1787 100/1 100 USD Fixed 5.500 91.50 93.50 6.99 BB+ /Ba1 /BB+

Turk Telekomunikasyon As XS1028952155 19-Jun-19 500 200/1 100 USD Fixed 3.750 99.00 101.00 3.48 BBB- /- /BBB-

Turk Telekomunikasyon As XS1028951264 19-Jun-24 500 200/1 100 USD Fixed 4.875 98.63 100.63 4.79 BBB- /- /BBB-

Vimpelcom Holdings XS0889401054 13-Feb-19 571 200/1 100 USD Fixed 5.200 94.50 96.50 6.30 BB /Ba3 /-

Vimpelcom Holdings Bv XS0889401724 13-Feb-23 983 200/1 100 USD Fixed 5.950 87.50 89.50 7.81 BB /Ba3 /-

Ajecorp Bv USN01766AA73 14-May-22 450 150/1 100 USD Fixed 6.500 73.13 75.13 11.92 BB- /- /BB

Afren Plc USG01283AD52 01-Feb-16 253 200/1 100 USD Defaulted 11.500 43.88 46.38 223.10 D /- /C

Afren Plc USG01283AF01 08-Apr-19 250 200/1 100 USD Defaulted 10.250 42.88 45.38 37.45 D /- /C

Afren Plc USG01283AG83 09-Dec-20 360 200/1 100 USD Defaulted 6.625 43.13 45.63 24.45 D /- /C

Industrials / Energy


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Anglogold Holdings Plc US03512TAD37 30-Jul-20 1250 1/1 100 USD Fixed 8.500 108.63 110.63 4.05 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAA97 15-Apr-20 700 1/1 100 USD Fixed 5.375 99.63 101.63 4.98 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAC53 01-Aug-22 750 1/1 100 USD Fixed 5.125 95.00 97.00 5.65 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAB70 15-Apr-40 300 1/1 100 USD Fixed 6.500 91.88 93.88 7.02 BB+ /Baa3 /-

Bharat Petroleum (BPCL) XS0848436365 25-Oct-22 500 200/1 100 USD Fixed 4.625 101.88 103.88 4.01 - /Baa3 /BBB-

Bharat Petroleum Corp XS1227064430 08-May-25 500 200/1 100 USD Fixed 4.000 95.88 97.88 4.27 - /Baa3 /BBB-

China Automation Group XS0615048260 20-Apr-16 72 200/1 100 USD Fixed 7.750 98.75 100.75 6.72 B+ /B1 /-

China Construct Bk Asia XS1100009874 20-Aug-24 750 200/1 100 USD Variable 4.250 100.50 102.50 3.59 - /Baa2 /A-

China Hongqiao Group XS1081333921 26-Jun-17 400 200/1 100 USD Fixed 7.625 98.00 100.00 7.62 BB /- /BB

China Hongqiao Group XS1132125946 03-May-18 300 200/1 100 USD Fixed 6.875 96.00 98.00 7.67 BB /- /BB

Chinalco Finance XS1150454822 11-Dec-19 500 200/1 100 USD Fixed 3.625 101.38 102.88 2.93 - /A1 /-

China Oil And Gas Group USG2115XAA66 25-Apr-18 350 200/1 100 USD Fixed 5.250 98.13 100.13 5.20 BB+ /Ba1 /-

China Oil And Gas Group XS1132375897 07-May-20 300 200/1 100 USD Fixed 5.000 96.00 98.00 5.48 BB+ /Ba1 /-

Cnpc General Capital Ltd XS1143051115 25-Nov-17 300 200/1 100 USD FRN 1.177 98.38 100.38 1.02 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143073788 25-Nov-17 500 200/1 100 USD Fixed 1.950 98.38 100.38 1.79 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143081963 25-Nov-19 700 200/1 100 USD Fixed 2.700 98.75 100.75 2.52 AA- /Aa3 /A+

Cimento Tupi Sa USP9159EAA03 11-May-18 185 2/1 100 USD Defaulted 9.750 43.00 46.00 42.64 D /- /C

Cimpor Financial Opertns USN20137AD23 17-Jul-24 750 200/1 100 USD Fixed 5.750 81.00 83.00 8.49 BB- /- /BB

Citic Ltd XS0758793342 21-Jan-18 1100 200/1 100 USD Fixed 6.875 109.00 111.00 2.37 BBB+ /A3 /-

Citic Ltd XS0912154381 10-Apr-20 500 200/1 100 USD Fixed 6.375 111.50 113.50 3.28 BBB+ /A3 /-

Cliffs Natural Resources US18683KAA97 15-Mar-20 327 2/1 100 USD Fixed 5.900 40.25 45.25 27.32 CCC+ /B3 /-

Cnpc General Capital Ltd USG22004AF54 14-May-17 750 200/1 100 USD FRN 1.175 98.38 100.38 0.98 A+ /A1 /A+

Cnpc General Capital Ltd USG22004AG38 14-May-19 750 200/1 100 USD Fixed 2.750 98.88 100.88 2.51 A+ /A1 /A+

Colbun Sa USP2867KAE66 10-Jul-24 500 200/1 100 USD Fixed 4.500 99.00 101.00 4.36 BBB- /- /BBB

Dana Gas (C) (S) XS0914266415 31-Oct-17 364 45/0.01 100 USD Fixed 7.000 78.75 85.75 14.37 Not Rated

Dana Gas (S) XS0914266845 31-Oct-17 425 45/0.01 100 USD Fixed 9.000 82.38 86.38 16.19 Not Rated

DEWA XS0551313926 21-Oct-16 500 100/1 100 USD Fixed 6.375 104.63 106.63 1.14 - /Baa2 /WD

DEWA XS0551313686 21-Oct-20 1500 100/1 100 USD Fixed 7.375 119.88 121.88 2.88 - /Baa2 /WD

DEWA (S) XS0897680558 05-Mar-18 1000 200/1 100 USD Fixed 3.000 100.75 102.75 1.93 BBB /- /-

Dolphin Energy Ltd USM28368AA21 15-Jun-19 657 100/1 100 USD Fixed 5.888 108.00 109.50 3.29 - /A1 /A+

Dolphin Energy Ltd USM28368AB04 15-Dec-21 1300 200/1 100 USD Fixed 5.500 113.25 114.75 2.96 - /A1 /A+

Doric Nimrod Air 2012-1A US258258AA01 30-Nov-22 365 200/1 100 USD Fixed 5.125 104.50 106.00 4.17 - /A3 /-

Dp World Ltd (C) XS1078764302 19-Jun-24 1000 200/200 100 USD Fixed 1.750 107.38 108.88 0.72 - /Baa3 /BBB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

DP World XS0308427581 02-Jul-37 1750 100/10 100 USD Fixed 6.850 109.25 110.75 5.97 NR /Baa3 /BBB-

DP World (S) XS0307408152 02-Jul-17 1500 100/10 100 USD Fixed 6.250 106.88 108.38 1.91 NR /Baa3 /BBB-

Dp World Ltd XS1234270921 18-May-20 500 200/1 100 USD Fixed 3.250 99.00 100.50 3.14 - /Baa3 /BBB-

Emirates Airlines XS0632833553 08-Jun-16 1000 200/1 100 USD Fixed 5.125 101.88 103.38 1.38 Not Rated

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

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

Emirates Airlines (S) XS1203164782 31-Mar-25 898 200/1 100 USD Fixed 2.471 98.88 100.38 2.43 Not Rated

Eskom Holdings Soc Ltd XS0579851949 26-Jan-21 1750 200/1 100 USD Fixed 5.750 97.50 99.50 5.86 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS0958072240 06-Aug-23 1000 200/1 100 USD Fixed 6.750 100.13 102.13 6.41 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS1187065443 11-Feb-25 1250 200/1 100 USD Fixed 7.125 100.25 102.25 6.80 BB+ /Ba1 /-

Exim Sukuk Malaysia (S) XS0981802738 19-Feb-19 300 200/1 100 USD Fixed 2.874 99.63 101.63 2.40 - /A3 /A-

Fibria Overseas Finance US31572UAE64 12-May-24 600 2/1 100 USD Fixed 5.250 99.88 101.88 4.98 BBB- /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0276455937 22-Mar-17 500 50/1 100 EUR Fixed 5.136 101.38 102.88 3.35 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0805570354 19-Jul-22 1000 200/1 100 USD Fixed 4.950 89.63 92.63 6.26 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0974126186 25-Sep-20 500 100/1 100 GBP Fixed 5.338 90.13 95.13 6.45 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS1038646078 26-Feb-21 750 100/1 100 EUR Fixed 3.600 90.88 93.88 4.86 BB+ /Ba1 /BBB-

Gems Mea Sukuk Ltd (S) XS0995041539 Perpetual 200 150/1 100 USD Variable 12.000 113.38 115.38 6.80 Not Rated

General Electric XS0880289292 30-Jan-43 700 200/1 100 USD Fixed 4.625 98.50 100.50 4.41 AA+ /A1 /-

Global Liman Isletmeleri XS1132825099 14-Nov-21 250 200/1 100 USD Fixed 8.125 89.13 91.63 9.93 - /B1 /BB-

Gol Finance US38045UAC45 03-Apr-17 84 2/1 100 USD Fixed 7.500 98.88 101.38 6.63 - /B3 /B-

Gold Fields Orogen Hold XS0547082973 07-Oct-20 1000 200/1 100 USD Fixed 4.875 90.75 93.25 6.41 BB+ /Ba1 /-

Greenko Dutch Bv USN3700LAA37 01-Aug-19 550 200/1 100 USD Fixed 8.000 92.13 94.63 9.63 B /- /B

Indian Oil Corp Ltd XS0654493823 02-Aug-21 500 200/1 100 USD Fixed 5.625 108.13 111.13 3.57 - /Baa3 /BBB-

Indian Oil Corp Ltd XS0955024236 01-Aug-23 500 200/1 100 USD Fixed 5.750 108.75 110.75 4.17 - /Baa3 /BBB-

Indian Railway Finance C XS0602696618 30-Mar-16 200 200/1 100 USD Fixed 4.406 100.25 102.25 1.26 BBB- /Baa3 /BBB-

Indian Railways Finance Co. XS0836520717 10-Oct-17 300 200/1 100 USD Fixed 3.417 100.00 103.00 2.04 BBB- /Baa3 /BBB-

Jsw Steel Ltd XS1133588233 12-Nov-19 500 200/1 100 USD Fixed 4.750 93.63 95.63 5.90 - /Ba1 /BB+

Klabin Finance Sa USL5828LAA72 16-Jul-24 500 200/1 100 USD Fixed 5.250 96.63 98.63 5.44 BBB- /- /BBB-

Kuwait Energy Plc XS1086694111 04-Aug-19 250 200/1 100 USD Fixed 9.500 97.50 99.50 9.65 B- /- /B-

Maoye International Hold USG5804GAE47 19-May-17 300 200/1 100 USD Fixed 7.750 97.50 100.50 7.45 BB- /Ba3 /-

Masisa USP6460HAA34 05-May-19 300 200/1 100 USD Fixed 9.500 98.88 101.88 8.90 BB- /- /BB

Millenium Offshore Services USY53653AA28 15-Feb-18 225 200/1 100 USD Fixed 9.500 102.00 105.00 6.14 B+ /B2 /-

Minsur Sa USP6811TAA36 07-Feb-24 450 150/1 100 USD Fixed 6.250 108.75 110.75 4.71 BBB- /Baa3 /BBB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Nakilat Inc USY62014AB48 31-Dec-33 267 100/1 100 USD Fixed 6.267 114.63 117.63 4.81 A+ /A1 /A-

Nitrogenmuvek Vegyipari XS0928972909 21-May-20 200 200/1 100 USD Fixed 7.875 94.50 96.50 8.77 B+ /- /BB-

Norilsk Nickel OJSC XS0922134712 30-Apr-18 750 200/1 100 USD Fixed 4.375 99.13 101.13 3.94 BBB- /Ba1 /BBB-

Norilsk Nickel OJSC XS0982861287 28-Oct-20 1000 200/1 100 USD Fixed 5.550 98.25 100.75 5.38 BBB- /Ba1 /BBB-

Novolipetsk Steel OJSC XS0808632847 19-Feb-18 708 200/1 100 USD Fixed 4.450 96.00 98.00 5.28 BB+ /Ba1 /BBB-

Novolipetsk Steel OJSC XS0783934325 26-Sep-19 471 200/1 100 USD Fixed 4.950 94.13 96.63 5.86 BB+ /Ba1 /BBB-

NTPC Ltd XS0245398226 02-Mar-16 300 100/1 100 USD Fixed 5.875 100.88 102.88 1.37 BBB- /- /BBB-

NTPC Ltd XS0648477593 14-Jul-21 500 200/1 100 USD Fixed 5.625 109.63 111.63 3.47 BBB- /- /BBB-

NTPC Ltd XS0835676353 03-Oct-22 500 200/1 100 USD Fixed 4.750 103.25 105.25 3.91 BBB- /- /BBB-

NTPC Ltd XS1143390679 26-Nov-24 500 200/1 100 USD Fixed 4.375 99.75 101.75 4.15 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043011 25-Apr-24 1250 200/1 100 USD Fixed 5.625 104.63 106.13 4.76 BBB- /- /BBB-

Office Cherifien Des Pho XS1221677120 22-Oct-25 1000 200/1 100 USD Fixed 4.500 95.38 96.88 4.89 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043367 25-Apr-44 600 200/1 100 USD Fixed 6.875 104.63 106.13 6.41 BBB- /- /BBB-

Oil India Ltd XS1057074871 17-Apr-19 500 200/1 100 USD Fixed 3.875 101.63 103.63 2.85 - /Baa2 /BBB-

Oil India Ltd XS1056232322 17-Apr-24 500 200/1 100 USD Fixed 5.375 106.75 108.75 4.17 - /Baa2 /BBB-

Oman Electricity XS1117297355 07-May-25 1000 200/1 100 USD Fixed 3.958 96.88 98.38 4.16 BBB+ /A3 /-

Ongc Videsh Ltd XS0927643030 07-May-18 300 200/1 100 USD Fixed 2.500 98.88 100.38 2.36 BBB- /Baa2 /-

Ongc Videsh Ltd XS1084957155 15-Jul-19 750 200/1 100 USD Fixed 3.250 99.88 101.38 2.88 BBB- /Baa2 /-

Ongc Videsh Ltd XS0922882344 07-May-23 500 200/1 100 USD Fixed 3.750 97.00 98.50 3.97 BBB- /Baa2 /-

Ongc Videsh Ltd XS1079848369 15-Jul-24 750 200/1 100 USD Fixed 4.625 102.13 103.63 4.14 BBB- /Baa2 /-

Petrobras Global Finance US71647NAJ81 17-Mar-17 1400 2/1 100 USD FRN 2.643 96.63 98.63 3.48 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAL38 17-Mar-20 500 2/1 100 USD FRN 3.163 93.38 95.38 4.24 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAL54 06-Oct-16 899 2/1 100 USD Fixed 6.125 99.88 103.88 2.89 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAG43 17-Mar-17 1600 2/1 100 USD Fixed 3.250 97.38 99.38 3.63 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAB55 15-Jan-19 2000 2/1 100 USD Fixed 3.000 91.75 93.75 4.96 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAH26 17-Mar-20 1500 2/1 100 USD Fixed 4.875 94.75 96.75 5.67 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAR25 27-Jan-21 5250 2/1 100 USD Fixed 5.375 94.75 97.75 5.86 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAF69 20-May-23 3500 2/1 100 USD Fixed 4.375 86.75 88.75 6.21 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAM11 17-Mar-24 2500 2/1 100 USD Fixed 6.250 96.75 98.75 6.44 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAK54 17-Mar-44 1000 2/1 100 USD Fixed 7.250 93.75 95.75 7.62 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAN93 5-Jun-2115 2500 2/1 100 USD Fixed 6.850 82.25 84.25 8.13 BBB- /Ba2 /BBB-

Petroleos De Venezuela S USP7807HAK16 02-Nov-17 6150 0.1/0.1 100 USD Fixed 8.500 63.63 66.13 29.82 CCC /- /CCC

PLN Indonesia US71568QAA58 22-Nov-21 1000 200/1 100 USD Fixed 5.500 104.38 106.88 4.25 BB /Baa3 /BBB-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Power Grid Corp Of India XS0875759184 17-Jan-23 500 200/1 100 USD Fixed 3.875 97.25 99.75 3.91 BBB- /- /BBB-

Pratama Agung XS1179926750 24-Feb-20 300 200/1 100 USD Fixed 6.250 94.75 96.75 7.08 BB- /- /BB-

Puma Intl Financing XS1022807090 01-Feb-21 1000 200/1 100 USD Fixed 6.750 100.63 102.63 5.92 - /Ba3 /BB

Ras Laffan Lng 3 USM8222MAB83 30-Sep-16 226 250/1 100 USD Fixed 5.832 102.25 104.25 2.26 A /Aa3 /A+

Ras Laffan Lng Ii USM8221WAA91 30-Sep-20 802 250/1 100 USD Fixed 5.298 107.13 109.13 3.37 A /Aa3 /A+

Reliance Holding USU75888AA26 19-Oct-20 1000 250/1 100 USD Fixed 4.500 105.25 107.25 3.00 BBB+ /Baa2 /-

Reliance Holding USU75888AC81 14-Feb-22 1500 250/1 100 USD Fixed 5.400 107.38 109.38 3.78 BBB+ /Baa2 /-

Reliance Industries Ltd USY72596BU56 28-Jan-25 1000 250/1 100 USD Fixed 4.125 97.88 99.38 4.20 BBB+ /Baa2 /-

Reliance Holding USU75888AB09 19-Oct-40 500 250/1 100 USD Fixed 6.250 110.50 112.50 5.34 BBB+ /Baa2 /-

Rural Electrification XS0579361428 25-Jan-16 500 100/1 100 USD Fixed 4.250 100.13 101.63 1.22 - /Baa3 /BBB-

Sabic Capital I Bv XS0554434240 02-Nov-15 1000 200/1 100 USD Fixed 3.000 99.50 101.00 -0.21 A+ /A1 /A+

Sabic Capital II Bv XS0971431613 03-Oct-18 1000 200/1 100 USD Fixed 2.625 100.63 102.13 1.94 A+ /A1 /A+

Sabic Capital I Bv XS0995811741 20-Nov-20 750 100/1 100 EUR Fixed 2.750 106.00 107.50 1.29 A+ /A1 /A+

Samarco Mineracao Sa USP84050AC02 26-Sep-24 500 200/1 100 USD Fixed 5.375 94.88 96.38 5.89 BBB- /- /BBB

Sasol Financing Int US803865AA25 14-Nov-22 1000 200/1 100 USD Fixed 4.500 100.75 102.25 4.14 BBB /Baa1 /-

Saudi Electricity Co (S) XS0764883806 03-Apr-17 500 200/1 100 USD Fixed 2.665 101.75 102.75 1.06 AA- /A1 /AA-



Saudi Elec Global Sukuk (S) XS1054250235 08-Apr-24 1500 200/1 100 USD Fixed 4.000 104.50 105.50 3.27 AA- /A1 /AA-


Saudi Elec Global Sukuk (S) XS1054250318 08-Apr-44 1000 200/1 100 USD Fixed 5.500 104.63 105.63 5.12 AA- /A1 /AA-

Schahin Ii Finan Co Spv USG785ARAA65 25-Sep-22 652 200/10 100 USD Fixed 5.875 36.00 43.00 21.80 CC /Ca /CC

Shanghai Elc Grp Glb Inv XS1092649620 14-Aug-19 500 200/1 100 USD Fixed 3.000 99.63 101.63 2.58 A /A2 /A

Srilankan Airlines Ltd XS1080090126 27-Jun-19 175 200/1 100 USD Fixed 5.300 94.25 99.25 5.51 B+ /- /-

Syndicate Bank/London XS1073127901 04-Dec-19 400 200/1 100 USD Fixed 3.875 101.25 103.25 3.08 BBB- /Baa3 /-

TAQA XS0272948554 27-Oct-16 1000 100/1 100 USD Fixed 5.875 105.00 106.50 0.83 A- /A3 /-

TAQA XS0717839525 13-Mar-17 750 200/1 100 USD Fixed 4.125 103.00 104.50 1.40 A- /A3 /-


TAQA XS0863523972 12-Jan-18 750 200/1 100 USD Fixed 2.500 100.00 101.50 1.88 A- /A3 /-

TAQA XS0380056183 01-Aug-18 500 100/1 100 USD Fixed 7.250 113.88 115.38 2.04 A- /A3 /-

TAQA XS0452300402 16-Sep-19 500 100/1 100 USD Fixed 6.250 114.00 115.50 2.34 A- /A3 /-

TAQA XS0717839871 13-Dec-21 750 200/1 100 USD Fixed 5.875 115.38 116.88 2.97 A- /A3 /-

TAQA XS0863524277 12-Jan-23 1250 200/1 100 USD Fixed 3.625 98.88 100.38 3.57 A- /A3 /-


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

TAQA XS1017435352 06-May-24 750 200/1 100 USD Fixed 3.875 99.25 100.75 3.77 A- /A3 /-


Tata Motors Ltd XS1121907676 30-Apr-20 500 200/1 100 USD Fixed 4.625 100.75 102.75 3.99 BB /Ba2 /-

Tata Steel XS1092182606 31-Jan-20 500 200/1 100 USD Fixed 4.850 99.88 101.38 4.51 BB /- /BB+

Tata Steel XS1090889947 31-Jul-24 1000 200/1 100 USD Fixed 5.950 98.50 100.00 5.95 BB /- /BB+

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

Transnet Soc Ltd XS0590902325 10-Feb-16 750 200/1 100 USD Fixed 4.500 100.75 102.25 0.63 BBB- /Baa2 /-

Transnet Soc Ltd XS0809571739 26-Jul-22 1000 200/1 100 USD Fixed 4.000 95.25 96.75 4.54 BBB- /Baa2 /BBB

Tullow Oil Plc USG91235AA22 01-Nov-20 650 200/1 100 USD Fixed 6.000 89.38 91.38 8.03 B+ /B3 /-

Transocean Inc US893830AK59 15-Apr-18 246 1/1 100 USD Fixed 7.375 102.88 104.88 5.44 BB+ /Ba1 /BBB-

Tullow Oil Plc USG91235AB05 15-Apr-22 650 200/1 100 USD Fixed 6.250 88.38 90.38 8.13 B+ /B3 /-

Tupras-Turkiye Petrol Ra XS0849020556 02-May-18 700 200/1 100 USD Fixed 4.125 100.13 101.63 3.51 - /Ba1 /BBB-

Vale Overseas Limited US91911TAM53 11-Jan-22 2250 2/1 100 USD Fixed 4.375 96.38 97.88 4.76 BBB /Baa2 /BBB+

Vedanta Resources Plc USG9328DAF71 07-Jun-16 750 200/1 100 USD Fixed 6.750 100.88 102.88 3.47 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAH38 31-Jan-19 1200 200/1 100 USD Fixed 6.000 91.00 93.00 8.31 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAG54 07-Jun-21 900 200/1 100 USD Fixed 8.250 95.50 97.50 8.80 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAJ93 31-May-23 500 200/1 100 USD Fixed 7.125 89.38 91.38 8.65 BB- /Ba3 /WD

Videocon Industries Ltd (C) XS0566786546 16-Dec-15 194 100/100 100 USD Fixed 6.750 81.00 86.00 45.17 Not Rated

Waha Aerospace XS0528721623 28-Jul-20 825 100/1 100 USD Fixed 3.925 103.63 105.13 2.83 AA /Aa2 /AA

Yancoal Intl Res Dev USY97279AA45 16-May-17 450 200/1 100 USD Fixed 4.461 96.25 98.75 5.18 BB /Ba2 /BB-

Yancoal Intl Res Dev USY97279AB28 16-May-22 550 200/1 100 USD Fixed 5.730 85.25 87.75 8.09 BB /Ba2 /BB-

Yingde Gases Invstmt Ltd USG9844KAA72 22-Apr-18 425 200/1 100 USD Fixed 8.125 91.38 95.38 10.06 BB- /B1 /BB

Yingde Gases Invstmt Ltd USG9844KAB55 28-Feb-20 250 200/1 100 USD Fixed 7.250 84.63 89.63 10.11 BB- /B1 /BB

Zoomlion Hk Spv Co Ltd USY9896RAB79 20-Dec-22 600 200/1 100 USD Fixed 6.125 85.13 87.13 8.49 B+ /- /BB-

Arcelik As XS0910932788 03-Apr-23 500 200/1 100 USD Fixed 5.000 94.88 96.88 5.50 BB+ /- /BB+

Arcelik As XS1109959467 16-Sep-21 350 100/1 100 EUR Fixed 3.875 99.38 101.38 3.62 BB+ /- /BB+

Car Inc XS1163232900 04-Feb-20 500 200/1 100 USD Fixed 6.125 98.50 100.50 6.00 BB+ /Ba1 /BB+

Cosco Finance 2011 XS0858461758 03-Dec-22 1000 200/1 100 USD Fixed 4.000 100.25 101.25 3.80 - /A1 /-

Golden Eagle Retail Group USG3958RAB53 21-May-23 400 200/1 100 USD Fixed 4.625 82.88 84.88 7.17 BB /Baa3 /BB+

Hikma Pharmaceuticals Pl XS1213834978 10-Apr-20 500 200/1 100 USD Fixed 4.250 98.88 100.88 4.04 BB+ /Ba1 /-

Noble Group USG6542TAE13 29-Jan-20 1209 100/1 100 USD Fixed 6.750 100.63 102.63 6.08 BBB- /Baa3 /BBB-

Miscellaneous


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abn Amro Bank Nv XS0619547838 27-Apr-22 595 200/1 100 USD Fixed 6.250 110.88 112.88 4.06 BBB- /Baa3 /A-

Abn Amro Bank Nv XS0827817650 13-Sep-22 1500 200/1 100 USD Variable 6.250 106.13 108.13 2.39 BBB- /NR /A-

Bank Of Scotland Plc XS0066120915 15-May-21 500 10/10 100 GBP Fixed 9.375 128.63 129.63 3.65 BBB /Baa2 /A-

Barclays XS0322792010 Perpetual 117 100/1 100 USD Variable 7.434 108.13 110.63 2.87 BB /Ba1 /BBB-

Barclays XS0397801357 Perpetual 3000 50/1 100 GBP Variable 14.000 128.88 131.88 4.89 BB /Ba1 /BBB-

Barclays Bank Plc US06740L8C27 21-Nov-22 3000 200/1 100 USD Fixed 7.625 112.38 114.38 5.24 BB+ /NR /BBB-

Barclays Bank Plc US06739FHK03 10-Apr-23 1000 200/1 100 USD Variable 7.750 107.00 109.00 4.23 BB+ /NR /BBB-

Citigroup Inc XS0180008905 18-Nov-15 250 1/1 100 GBP Fixed 5.500 99.75 101.75 0.59 A- /Baa1 /A

Commerzbank Ag XS0101360161 30-Aug-19 150 10/10 100 GBP Fixed 6.625 109.25 111.25 3.64 BB+ /Ba2 /BBB-

Commerzbank Ag DE000CB83CF0 16-Mar-21 1250 100/100 100 EUR Fixed 7.750 118.75 120.75 3.64 BB+ /Ba2 /BBB-

Credit Agricole FR0010533554 Perpetual 500 2/2 100 USD Fixed 7.375 101.13 103.13 -3.82 BB+ /Ba2 /BBB-

Credit Agricole Sa USF22797RT78 Perpetual 1750 200/1 100 USD Variable 7.875 101.25 102.75 7.44 BB /NR /BB+

Credit Europe Bank NV XS0878492791 24-Jan-23 400 200/1 100 USD Variable 8.000 99.38 102.38 6.96 - /B2 /B+

Deutsche Bank Ag US251525AP63 01-Apr-25 1500 200/1 100 USD Fixed 4.500 94.00 97.00 4.89 BBB- /Ba1 /A-

Goldman Sachs Group Inc XS0212249014 15-Dec-15 600 1/1 100 GBP Fixed 5.250 101.00 102.00 0.60 A- /A3 /A

Jaguar Land Rover Automo USG5002FAE63 15-Mar-20 500 200/1 100 USD Fixed 3.500 98.50 100.00 3.50 BB /Ba2 /-

Jaguar Land Rover Automo USG50027AB03 15-May-21 84 150/1 100 USD Fixed 8.125 109.25 110.75 0.14 BB /Ba2 /BB-

KBC Bank NV BE6248510610 25-Jan-23 1000 200/200 100 USD Variable 8.000 108.25 109.75 3.93 BBB- /NR /-

Lloyds Bank Plc XS0517466198 07-Sep-15 75 1/0.1 100 GBP Fixed 5.375 99.00 101.00 -0.84 A /A1 /A+

Lloyds Bank Plc US53947QAA58 14-Sep-20 2000 100/1 100 USD Fixed 6.500 115.00 117.00 2.93 BBB /Baa2 /A-

Lloyds Bank Plc XS0717735582 16-Dec-21 466 1/1 100 GBP Variable 10.750 112.38 113.38 1.27 BBB /Baa2 /A-

Macquarie Bank Ltd US55608YAA38 07-Apr-21 1000 2/1 100 USD Fixed 6.625 113.38 116.38 3.45 BBB /Baa2 /A-

Macquarie Bank Ltd XS0543111768 21-Sep-20 600 50/50 100 EUR Fixed 6.000 116.88 119.88 1.94 BBB /Baa2 /A-

Mizuho Group XS0803109270 18-Jul-22 1500 200/1 100 USD Fixed 4.200 101.38 104.38 3.49 A /A2 /-

Morgan Stanley XS0236338504 30-Nov-15 325 50/1 100 GBP Fixed 5.125 99.75 101.75 0.63 A- /A3 /A

Morgan Stanley XS0531922465 10-Aug-20 1500 50/50 100 EUR Fixed 5.375 120.38 121.38 1.04 A- /A3 /A

Morgan Stanley US61747WAF68 25-Jan-21 2592 100/1 100 USD Fixed 5.750 113.13 115.13 2.78 A- /A3 /A

Natixis USF6483LHM57 Perpetual 186 100/1 100 USD Variable 10.000 115.13 118.13 3.17 BB+ /Ba2 /BBB-

Natl Westminster Bank XS0090254722 07-Sep-21 300 10/10 100 GBP Fixed 6.500 111.88 113.88 3.92 BB+ /Ba2 /BBB

Prudential Plc XS0873630742 Perpetual 700 200/1 100 USD Fixed 5.250 99.00 101.00 4.85 A- /Baa1 /BBB+

Rabobank Nederland XS0826634874 14-Sep-22 1000 100/1 100 EUR Fixed 4.125 110.25 112.25 2.26 BBB+ /A3 /A

Rabobank Nederland XS0583302996 Perpetual 2000 100/1 100 USD Variable 8.375 103.50 105.50 2.98 - /- /BBB-

Various Developed Market Issues


July 8, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Rabobank Nederland XS0703303262 Perpetual 2000 100/1 100 USD Variable 8.400 106.63 108.63 3.81 - /- /BBB-

Royal Bk Of Scotland Plc XS0356705219 09-Apr-18 2000 50/1 100 EUR Fixed 6.934 110.50 112.50 2.19 BB+ /Ba2 /BBB

Royal Bk Of Scotland Plc XS0753308559 16-Mar-22 2132 1/1 100 USD Variable 9.500 109.25 111.25 2.62 BB+ /NR /BBB

Royal Bk Scotlnd Grp Plc US780099CE50 15-Dec-22 2250 2/1 100 USD Fixed 6.125 106.63 108.63 4.73 BB /Ba2 /BBB

Societe Generale XS0503530874 17-Dec-15 350 50/50 100 GBP Fixed 3.875 99.50 101.50 0.44 A /A2 /A

Standard Chartered Plc XS0874014722 11-Jan-23 2000 200/1 100 USD Fixed 3.950 97.38 99.38 4.05 BBB /A2 /A+

UBS AG CH0214139930 22-May-23 1500 200/1 100 USD Variable 4.750 99.88 101.88 4.04 BBB /NR /BBB+

Unicredit Spa XS0849517650 31-Oct-22 1500 100/1 100 EUR Fixed 6.950 114.13 116.13 4.32 BB /Ba1 /BBB

Unicredit Spa XS0925177130 02-May-23 750 200/1 100 USD Variable 6.375 103.50 105.50 4.27 BB /Ba1 /BBB

Egypt 3M T Bills N/A 06-Oct-15 3000 500/25 100 EGP Zero Cpn N/A 97.01 97.48 8.29 B/B2/B+

Egypt 6M T Bills N/A 05-Jan-16 3500 500/25 100 EGP Zero Cpn N/A 94.11 95.00 8.45 B/B2/B+

Egypt 9M T Bills N/A 29-Mar-16 4500 500/25 100 EGP Zero Cpn N/A 91.52 92.76 8.57 B/B2/B+

Egypt 1Y T Bills N/A 28-Jun-16 4500 500/25 100 EGP Zero Cpn N/A 88.91 90.49 8.60 B/B2/B+

(C) Denotes a Convertible bond

(S) Denotes a Sukuk

* Offer Yield adjusted for tax

Egypt T Bills


July 8, 2015

Contact:

Mashreq Fixed Income Trading

Mohammad Ahsan / Khizer Usmani / Zeeshan Ali / Usman Khan / Khurram Hussain / Yasmeen Rabbani / Shakoor Ahmed / Jean-Francois Bargiarelli

Sali Al Khatib

Telephone: +9714-2128822

For live prices, please visit our Bloomberg page MASH <GO>

General Disclaimer:

This note has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq Bank or its affiliates

to buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation

would be illegal. Certain assumptions may have been made in the analysis that resulted in any information and results/returns detailed therein. No representation is made that any

returns/results indicated would be achieved or that all assumptions in achieving these returns/results have been considered. Past performance is not necessarily indicative of future

results. Mashreq Bank does not warrant accuracy of the information provided herein and views expressed in this research reflect personal views of the analyst(s) which does not take

account of individual clients’ objectives, financial situations or needs. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory

advice to determine whether this investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances.

Mashreq Bank nor any of its related parties accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this memorandum and/or further

communication in relation thereto. Mashreq Bank does not accept any obligation to correct or update the information or opinions in it; however, opinions expressed are subject to change

without notice. This note is disseminated primarily electronically, and, in some cases, in printed form.

The above terms are indicative and do not constitute solicitation or an offer to sell to the public. This document is not intended to identify, represent or notify the conclusive terms and

conditions of any transaction, other material considerations and any possible risks, direct or indirect, would be involved in undertaking such a transaction. The interest of Mashreq Bank

may conflict with the interests of the investors in respect of any matter requiring its consent and Mashreq Bank will not be required to consider the interests of the investors in exercising

such rights.

mashreq fixed income daily - 8 july 2015

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