mashreq...playing field.”the group agreed on june 5 to retain its collective output target of 30...

mashreqFixed Income Trading

Daily Market Update

Market Update

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Tuesday, September 01, 2015

Islamic bond sales slowest since 2010 as resources turn liability

Sukuk sales are heading for the slowest quarter since 2010 as an emerging market sell-off and commodity prices at 16-year low prompt issuers to shelve

expansion plans. There have been USD2.8 billion of sales worldwide since the end of June, including just USD979 million in August, data compiled by

Bloomberg show. The last time quarterly issuance was less than USD5 billion was in the first three months of 2010. The sukuk pipeline is drying up as

companies defer expansion plans in response to plunging resource prices and concern over the impact of a US interest-rate increase. Shariah-compliant

bond yields have climbed to an eight-month high as China’s deepening economic slowdown prompted outflows from developing nation assets. The slowdown

in issuance comes as average yields on Shariah-compliant debt climbed 33 bps in the past three months to 3.16%, according to a Deutsche Bank AG index.

They rose to 3.23% last week, the highest since December. Sukuk offerings from the six-nation Gulf Cooperation Council are down 41% this year to USD6.9

billion, according to data compiled by Bloomberg. Worldwide issuance is down 26% to USD23.7 billion so far in 2015. (Bloomberg)

OPEC output rises as Iran pumps at fastest rate in 3 years

OPEC crude output increased this month as Iranian production climbed to the highest level in three years. Output by OPEC rose 108,000 barrels to 32.316

million a day in August, according to a Bloomberg survey of oil companies, producers and analysts. Last month’s total was revised 101,000 barrels higher to

32.208 million a day, because of changes to the Iraqi estimate. Brent crude, the benchmark for more than half the world’s oil, moved into a bull market

yesterday after OPEC said in a monthly publication it’s willing to talk to other global producers to achieve “fair prices,” adding that “this has to be on a level

playing field.” The group agreed on June 5 to retain its collective output target of 30 million barrels a day, a level that it exceeded for 15 months, according

to data compiled by Bloomberg. Brent for October settlement rose USD4.10, or 8.2%, to end the session at USD54.15 a barrel on the London-based ICE

Futures Europe exchange. It was the highest close since July 24. Iranian production climbed by 50,000 barrels a day to 2.9 million this month, the highest

since July 2012, when more sanctions were imposed on the Islamic republic to curb its nuclear program. Under an agreement Iran and six world powers

reached in Vienna last month, the US agreed to end efforts to limit Iran’s oil sales. The United Arab Emirates bolstered output by 150,000 barrels a day to

2.95 million barrels a day, the biggest gain this month. Production rose to meet increased demand in Japan and from the Abu Dhabi National Oil Co.’s

expanded Ruwais refinery. Iraqi production rose 5,000 barrels a day to 4.3 million this month, according to the survey. OPEC’s second-biggest producer is

pumping near the highest level in monthly Bloomberg data going back to 1989. Exports from the south of the country through the Persian Gulf rose while

pipeline closures reduced shipments from the north through the port of Ceyhan on Turkey’s Mediterranean coast. Saudi Arabia, OPEC’s top producer,

reduced output by 70,000 barrels a day to 10.5 million in August, the first decline since December. Fuel consumption in the Arabian peninsula peaks in the

summer months, when high temperatures lead to increased use of air conditioners. (Bloomberg)

German unemployment drops as economy brushes off global slowdown

German unemployment declined in August in a sign of confidence that Europe’s largest economy will continue growing. Joblessness fell a seasonally-adjusted

7,000 to 2.79 million, the Federal Labor Agency in Nuremberg said on Tuesday. Economists had predicted a drop of 4,000, after unemployment rose in July.

The jobless rate remained at 6.4 percent, the lowest level since German reunification. Germany’s economy is poised for “solid” growth, supported by both

external and domestic demand, the Bundesbank predicted on Aug. 17. Business confidence has improved in the past two months even as trade risks from

China’s economic slowdown mount. “The German labor market is very stable and robust,” said Johannes Gareis, an economist at Natixis SA in Frankfurt.

“Amid a global economy weakened by a trailing dynamic in China, domestic consumption is more important than ever, and this is where the labor market

acts as a crutch for the economy.” The number of people without work declined by about 3,000 in western Germany and about 3,000 in the eastern part of

the country, the data show. (Bloomberg)

France’s and UK’s manufacturing sectors contracted in August

France’s manufacturing industry shrank more than initially estimated in July, leaving Germany to take a greater share of the burden of driving the euro-area

recovery. Markit Economics said its Purchasing Managers’ Index for France fell to 48.3 from 49.6 in July, lower than the 48.6 reading reported on August 21.

In contrast, the German gauge rose more than estimated and was well above the 50 level that divides expansion and contraction. The report comes days

before European Central Bank policy makers meet in Frankfurt, where they’ll have to grapple with the impact of China’s economic slowdown and downside

risks to inflation. The Markit report showed that input costs at euro- region factories fell for the first time in six months and selling prices barely grew. The

overall euro-area measure was at 52.3 in August, below the initial reading of 52.4. In a positive sign, the gauge of new orders rose to the highest in more

than a year, while export demand also improved.

UK’s manufacturing growth also cooled in August as export orders fell for a fifth month. Markit Economics said companies blamed the decline in foreign

demand on the strong pound, weak sales in the euro area and the Chinese economic slowdown. The headline manufacturing index slipped to 51.5 from 51.9

in July. The report highlights a potential risk to Britain’s economy after net trade boosted economic growth by the most in four years in the second quarter.

While Bank of England Governor Mark Carney has said the time for an interest-rate increase is approaching, he’s also warned of external risks to Britain’s

economy. (Bloomberg)

China’s official factory gauge shrinks to lowest in 3 years

China’s official factory gauge fell to the lowest reading in three years as monetary easing failed to revive old growth drivers weighed by overcapacity and

sliding prices. The official PMI was 49.7 for August, matching the median estimate in a Bloomberg survey and down from 50 in July. Numbers below 50

indicate contraction, with small, medium and large enterprises all below that level last month. Reflecting the outperformance of services industries

throughout the economic slowdown, the non-manufacturing PMI reading for August was at 53.4, still signaling expansion. It dropped from 53.9 in July.

(Bloomberg)


Daily Market Update

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Macau GDP contracts 26.4% as casino slump threatens surplus

Macau’s economy dipped to its lowest since 2011 as high-end gamblers avoided the world’s largest casino market amid a widening crackdown on graft in

China. The city where gambling accounts for four-fifths of economic output saw GDP tumble 26.4% in the last quarter, according to government data

released on Monday. The drop worsened from 24.5% in the first quarter. The decline would take Macau’s GDP to about 77.5 billion patacas (USD9.7 billion)

at constant prices, making it the weakest since early 2011. The only Chinese city where casinos is legal, Macau has seen gross gaming revenue plunge 14

straight months due to the central government’s corruption crackdown that kept high-stakes bettors at bay. China’s slowing economy has further curbed

visits by mass market gamblers and tourists. While its economy fared worse than crisis and debt-laden Greece in recent months, Macau’s unemployment

rate has held steady below 2% and its government maintained a surplus. Still, the fiscal surplus of 8.63 billion patacas (USD1.1 billion) in the second quarter

has almost halved from a quarter earlier amid falling gaming taxes. (Bloomberg)

Indian economy grew at a slower than estimated pace

India’s GDP grew slower than estimated, boosting pressure on Prime Minister Narendra Modi to make more progress in overhauling Asia’s third-largest

economy. GDP rose 7% in the April-June quarter from a year earlier, after a 7.5% expansion the previous quarter, the Central Statistics Office said in a

statement in New Delhi on Monday. The median of 31 economist estimates in a Bloomberg survey was 7.4%. While India is expanding at a faster pace than

other major world economies, Modi’s government has said it can do better. The figure adds pressure on Modi to press ahead with far-reaching changes to

the economy. This week he stepped back from land reforms after opposition from farmers, and proposals to overhaul labor laws and implement a national

goods-and-services sales tax face delays. Asia’s third-biggest economy is projected to expand 7.5% in the current year, compared with China’s 6.8%, an

average 4.2% for emerging markets and 3.3% for advanced nations, the International Monetary Fund said in its forecast in July. (Bloomberg)

RBA holds rates as Aussie cushions China-led commodity drop

Reserve Bank of Australia left interest rates unchanged today as a declining currency cushions the impact of lower commodity prices and a weaker outlook

for key trading partner China. RBA Governor Glenn Stevens and his board kept the cash rate at a record-low 2%, as predicted by markets and economists

following reductions in May and February. “Most of the available information suggests that moderate expansion in the economy continues,” Stevens said of

Australia in his statement. “Equity markets have been considerably more volatile of late, associated with developments in China,” referring to the stock rout

in that country. Stevens altered his language on expectations for the Federal Reserve’s first rate increase to “the period ahead” from last month’s “later this

year.” (Bloomberg)

Hong Kong buys USD800 million to defend the currency peg

Hong Kong Monetary Authority stepped in for the first time in more than four months to prevent the city’s currency from breaking out of the strong end of

its pegged range against the US dollar. The HKMA said it bought USD800 million on Tuesday at HK$7.75 a dollar, the upper limit of a band that triggers

intervention. It last intervened in April, buying USD9.2 billion in total during the month. The HKMA “will monitor the market developments closely and

maintain the stability of the Hong Kong dollar,” it said in a statement. Hong Kong’s dollar is drawing funds as last month’s surprise yuan devaluation and the

prospect of higher US interest rates push currencies lower across Asia’s developing economies. The weakening of the yuan was followed by exchange-rate

shifts in Kazakhstan and Vietnam, making investors nervous about regime changes in other currencies. (Bloomberg)

World's riskiest debt returned the most in August despite a market selloff – Higher the Risk, Higher the Return

Ukraine’s dollar-denominated bonds returned 25% in August after a debt-restructuring deal with private creditors that gave better-than-expected terms to

investors. The accord was a necessary step to meet conditions for a USD40 billion International Monetary Fund-led aid package to help pull the war-torn

country out of recession. Ukraine outperformed amid a rout in riskier assets after China’s unexpected devaluation of the yuan sparked concern the world’s

second-biggest economy was slowing more than forecast. While stocks fell the most in three years and bonds slid from Brazil to South Africa, Ukraine, with

its 32% probability of default, beat the odds with a deal that included extending maturities by only four years and kept interest payments close to current

levels. Analysts who were underweight Ukrainian bonds were caught by surprise after the deal spurred a rally that sent USD2.6 billion of notes due July 2017

up 15 cents on the dollar to more than 70 cents. Greece’s sovereign bonds also returned over 20% during August. (Bloomberg)

China said to plan military overhaul as Xi solidifies power

President Xi Jinping is likely to announce this month the most sweeping overhaul of the Chinese military in at least three decades, moving it closer to a US-

style joint command structure, people familiar with the matter said. The blueprint would unify the army, navy, air force and strategic missile corps under one

command, said the people, who asked not to be identified because the proposal hasn’t been released. The plans call for thinning the ranks of officers and

traditional ground forces, helping elevate the role of the navy and air force, to better project force in a modern conflict, they said. It would also consolidate

the country’s seven military regions to as few as four, one of the people said. Xi is preparing to unveil the proposal in the wake of Thursday’s World War II

anniversary parade in Beijing, which will showcase his authority over the People’s Liberation Army and China’s growing clout in the region. The plan to mold

the military into a force that meets Xi’s goal of being “able to fight and win a modern war” has been delayed for months as anti-graft investigators swept up

dozens of current and retired generals, referring the PLA’s former top general to prosecutors in July. (Bloomberg)


PBOC said to impose reserve requirement on Yuan forwards trading

China’s central bank has reportedly moved to curb currency speculation, making it more expensive to bet on yuan weakness in the forwards market after an

August 11 devaluation sparked concern capital outflows would accelerate. The PBOC will impose a reserve requirement on financial institutions trading in

foreign-exchange forwards for clients, according to six people familiar with the matter. The changes, which take effect October 15, will mandate a deposit of

20% of sales to be held at zero interest and frozen for a year, said the people, who asked not to be identified because they aren’t authorized to speak

publicly. The PBOC has intervened to prop up the yuan since the devaluation, a policy that eats into its USD3.65 trillion of foreign-exchange reserves.

(Bloomberg)

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US based EM focused ETF’s lost over USD2.5 billion of assets last week

Investors in US exchange-traded funds that buy emerging-market stocks and bonds withdrew USD2.58 billion last week. The losses in August resulted in

wiping out this year’s inflows. Total redemptions from ETFs that invest across developing nations, as well as those that target specific countries, were the

highest since the start of 2014, according to data compiled by Bloomberg. August outflows reached USD5.84 billion. Withdrawals in the week ended August

28 compared with USD1.95 billion in the previous period, the data show. The last time outflows were greater was in the week of January 27, 2014, when the

total was USD4.46 billion. Stock funds lost USD2.39 billion and bond funds declined by USD182.7 million last week. The biggest change was in China and

Hong Kong, where funds shrank by USD588.1 million, compared with USD396.3 million of redemptions the previous week. Investors withdrew USD586.3

million from stock funds and USD1.8 million from bonds. India had the next-biggest change, with ETF investors redeeming USD345.7 million, compared with

USD110.9 million of outflows the previous week. (Bloomberg)

Moody's: Indian property developers will continue to face challenges

Moody's Investors Service says that India's largest property developers will continue to face a challenging operating environment over the next 12 months,

including weak cash flows, flat sales and stagnant prices. "At the same time, despite the difficulties, we expect solid economic growth in India in 2014-15 to

provide some support to housing sales, while the likely gradual easing of lending rates will also boost investor confidence and investment activity," says Vikas

Halan, a Moody's Vice President and Senior Credit Officer. "Cuts in interest rates by the Reserve Bank of India, if passed on by the banks, will filter down to

the property market, reducing the cost of borrowing for developers as well as buyers, and supporting demand," says Halan. With the challenges in the

operating environment, developers such as Indiabulls Real Estate Limited (B1 stable), Lodha Developers Private Limited (Ba3 negative), Unitech Limited

(unrated), DLF Limited (unrated) and Oberoi Realty Limited (unrated) will experience relatively more pressure on sales and cash flow because they operate

in Delhi and Mumbai, areas where prices are the highest. In contrast, developers in relatively affordable markets like Bengaluru, such as Brigade Enterprises

Limited (unrated), Prestige Estate Projects Limited (unrated) and Sobha Developers Limited (unrated), should fare better, owing to stable demand for

housing. (Bloomberg)

Glorious Property misses another loan repayments as sales drop

Glorious Property Holdings Ltd. said it’s selling assets to raise cash and negotiating with lenders to ease its financial burden after falling behind in servicing

10.5 billion yuan (USD1.6 billion) of loans. The Shanghai-based developer had failed to pay 1.82 billion yuan of principal and interest on 5.4 billion yuan of

debt as of June 30 when it consolidated its first-half results, according to a Hong Kong stock exchange filing late on Monday. The company has since missed

repaying another 1.2 billion yuan on 5.1 billion yuan of borrowings, it said. “Management is in active negotiation with these lenders to revise the repayment

schedules for those overdue loan principals and interests, and is therefore confident that the lenders of the borrowings will not enforce their rights of

immediate repayment,” Glorious said in its August 31 statement. Certain measures have been taken to mitigate the liquidity pressure and to improve its

financial position, including speeding up the collection of initial down payments and controlling administrative costs, it said. Glorious has USD300 million of

13% bonds that mature on October 25. The securities were trading at 72.357 cents on the dollar in Hong Kong, after losing almost 18 cents over the past

two months. The company’s shares have slumped 31% in that time. Moody’s Investors Service and Standard & Poor’s have both flagged bond default risks

this year after downgrading the developer’s notes in April. Glorious Property is controlled by tycoon Zhang Zhi Rong, who’s making a second attemptto take

the company private. (Bloomberg)

Sri Lanka holds rate after parliamentary elections

The Central Bank of Sri Lanka kept its standing lending facility rate at 7.5% and standing deposit facility rate at 6%, it said in a statement. Six of seven

economists in Bloomberg survey had predicted no change and one analyst forecast a 50 bps reduction in both benchmarks. (Bloomberg)

Earnings Update

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Ratings Update

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Fitch revises Shimao's outlook to positive and affirms rating at 'BB+'

Fitch Ratings has affirmed China-based Shimao Property Holdings Limited's Long-Term Issuer Default Rating (IDR) at 'BB+'. The Outlook is revised to

Positive from Stable. Fitch has also affirmed Shimao's senior unsecured rating and the ratings on its outstanding notes at 'BB+'. The Outlook revision reflects

Fitch's expectation that Shimao will achieve its target of generating positive net cash flow from operating activities in 2015, driven by a slower pace of land

acquisition. The ratings are supported by the home builder's strong execution track record, leadership in key regions and stable margins that are also higher

than that of its peers. (Bloomberg)

Fitch upgrades Sunac to 'BB' from 'BB-' with stable outlook

Fitch Ratings has upgraded China-based property developer Sunac China Holdings Limited's (Sunac) Long-Term Foreign-Currency Issuer Default Rating

(IDR) and its senior unsecured rating to 'BB' from 'BB'. The Outlook on the IDR is Stable. The upgrade is supported by Fitch's view that Sunac's contracted

sales of CNY40bn on attributable basis are sustainable, the company's low leverage and strong liquidity, its quality land bank, and its conservative expansion

plan. Sunac's rating is mainly constrained by its current low margin as well as uncertainties about its strategy to acquire land by taking stakes in companies

or projects. (Bloomberg)

S&P downgrades China Hongqiao to 'BB-'; outlook stable

Standard & Poor's Ratings Services said that it had lowered its long-term corporate credit rating on China-based aluminum producer China Hongqiao Group

Ltd. to 'BB-' from 'BB'. The outlook is stable. At the same time, S&P lowered its long-term issue rating on the company's senior unsecured notes to 'BB-'

from 'BB'. (Bloomberg)

Fitch affirms Azerbaijan at 'BBB-' with stable outlook

Fitch Ratings has affirmed Azerbaijan's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB-' with a Stable Outlook. The issue ratings

on Azerbaijan's senior unsecured foreign currency bonds have also been affirmed at 'BBB-'. The Country Ceiling has been affirmed at 'BBB-' and the Short-

term foreign currency IDR at 'F3'. (Bloomberg)

Rosneft second-quarter profit falls 22% as crude price declines

Rosneft, Russia’s largest oil producer, said profit fell 22% in the second quarter after crude prices slumped by almost half from a year earlier. Net income

declined to 134 billion rubles (USD2 billion) compared with 171 billion rubles a year earlier, the Moscow- based company said in a statement on its website.

That was higher than the 95.5 billion ruble estimate of five analysts surveyed by Bloomberg. Revenue dropped 8.6% from the second quarter of last year to

1.31 trillion rubles. Russian oil producers have benefited from lower service costs as crude, the country’s biggest export, weakens the ruble. Rosneft

increased drilling in the first half of the year as crude output fell 1.1% from the first six months of 2014. Natural gas output climbed 16% to 1.05 million

barrels of oil equivalent a day, pushing total oil and gas production to an average 5.175 million barrels a day in the first half. Net debt fell 7.9% in the second

quarter to USD39.9 billion, according to the statement. (Bloomberg)


Daily Market Update

Change Change USD EUR AED

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

iTraxx Europe 71.459 0.000 8.596 2-Year 0.862 -0.031 0.098 -0.039 1.531 -0.023

iTraxx Europe Crossover 322.962 0.000 -22.652 5-Year 1.609 -0.042 0.454 -0.014 2.451 -0.042

CDX North America IG 81.794 1.819 15.674 10-Year 2.230 -0.044 1.116 -0.014 3.700 -0.034

CDX North America HY 392.363 8.415 35.409 30-Year 2.686 -0.046 1.657 0.007 N/A N/A

iTraxx SovX Western Europe 22.340 0.000 -3.591 Source: Bloomberg

iTraxx SovX CEEMEA 276.210 0.000 -39.210

iTraxx Europe Senior Financial 81.195 0.000 13.759

iTraxx Europe Sub Financial 162.824 0.000 13.957

Source: Bloomberg

Change Change Last Change Change

bps Spread Day YTD Day YTD (%)

Emirate of Abu Dhabi 5Y 65.000 0.000 3.000 S&P 500 1,972.18 -4.21

Emirate of Dubai 5Y 200.000 0.000 -30.000 Dow Jones Industrial Avg 16,528.03 -7.27

Kingdom of Bahrain 5Y 285.000 0.000 30.000 DFM General Index 3,648.82 -3.32

State of Qatar CDS 5Y 59.191 0.000 -7.037 ADX General Index 4,461.35 -1.49

Kingdom of Saudi Arabia 5Y 85.000 0.000 20.000 Qatar Exchange Index 11,487.13 -6.50

Lebanese Republic 5Y 390.000 0.000 -5.000 TASI 7,522.47 -9.73

Republic of Turkey 5Y 266.500 3.500 86.500 Spot Gold 1,143.59 -3.44

Arab Republic of Egypt 5Y 345.000 #N/A N/A 65.000 Spot Silver 14.63 -6.91

Source: Bloomberg WTI Crude 47.41 -11.00

Brent Crude 52.34 -8.70

Source: Bloomberg

Last (NAV) Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.49970 -0.55% 2.36%

Makaseb Income Fund 12.96588 -0.99% 1.22%

Makaseb Arab Tigers Fund 13.66061 -12.86% -18.63%

Source: Bloomberg

8.66

0.00

-1.79

-1.81

MUTUAL FUNDS

-167.92

CDS MISCELLANEOUS

-16.69

-114.98

-13.74

-32.58

-76.43


CREDIT MARKETS SWAPS

Fixed Income Trading

September 1, 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 6.750 116.75 118.75 1.39 AA /Aa2 /AA

Arab Republic Of Egypt XS0505265859 29-Apr-20 1000 100/1 100 USD Fixed 5.750 102.50 104.00 4.78 B- /B3 /B

Arab Republic Of Egypt XS1245432742 11-Jun-25 1500 200/1 100 USD Fixed 5.875 96.50 98.00 6.15 B- /B3 /B

Arab Republic Of Egypt XS0505478684 30-Apr-40 500 100/1 100 USD Fixed 6.875 95.25 96.75 7.16 B- /B3 /B

Bahrain (CBB Int.) (S) XS0708899272 22-Nov-18 750 100/1 100 USD Fixed 6.273 110.13 111.63 2.49 BBB- /- /-

Commonwealth Of Bahamas USP06518AF40 16-Jan-24 300 200/1 100 USD Fixed 5.750 106.75 108.75 4.48 BBB- /Baa2 /-

Dubai Government (S) XS0778097088 02-May-17 600 200/1 100 USD Fixed 4.900 105.13 106.13 1.17 Not Rated

Dubai Government (S) XS0778097674 02-May-22 650 200/1 100 USD Fixed 6.450 118.38 119.38 3.20 Not Rated

Dubai Government (S) XS0880424337 30-Jan-23 750 200/1 100 USD Fixed 3.875 102.00 103.00 3.41 Not Rated

Dubai Govt Int'L Bonds XS0546426528 05-Oct-15 500 100/1 100 USD Fixed 6.700 100.38 100.88 -3.08 Not Rated

Dubai Govt Int'L Bonds XS0546428144 05-Oct-20 750 100/1 100 USD Fixed 7.750 120.88 122.88 2.88 Not Rated

Dubai Govt Int'L Bonds XS0640032594 22-Jun-21 500 100/1 100 USD Fixed 5.591 111.75 112.75 3.17 Not Rated

Dubai Dof Sukuk Ltd (S) XS1062038143 30-Apr-29 750 200/1 100 USD Fixed 5.000 101.75 102.75 4.72 Not Rated

Dubai Govt Int'L Bonds XS0880597603 30-Jan-43 500 200/1 100 USD Fixed 5.250 88.25 90.25 5.98 Not Rated

Ethiopia XS1151974877 11-Dec-24 1000 200/1 100 USD Fixed 6.625 94.13 96.13 7.20 B /B1 /B

Emirate of Ras Al Khaimah (S) XS1210507650 31-Mar-25 1000 200/1 100 USD Fixed 3.094 96.75 97.75 3.37 - /- /A

Gabonese Republic XS0333225000 12-Dec-17 161 100/1 100 USD Fixed 8.200 103.25 105.25 5.70 B+ /- /B+

Gabonese Republic XS1003557870 12-Dec-24 1500 200/0.001 100 USD Fixed 6.375 86.75 88.75 8.28 B+ /- /B+

Gabonese Republic XS1245960684 16-Jun-25 500 200/1 100 USD Fixed 6.950 89.38 91.38 8.25 B+ /Ba3 /B+

Govt Of Bermuda USG10367AB96 06-Feb-24 750 200/1 100 USD Fixed 4.854 103.63 105.63 4.06 A+ /A1 /WD

Islamic Rep Of Pakistan USY8793YAK83 31-Mar-16 500 100/1 100 USD Fixed 7.125 100.75 102.75 2.26 B- /B3 /-

Islamic Rep Of Pakistan USY8793YAM40 01-Jun-17 750 100/1 100 USD Fixed 6.875 102.88 104.88 3.94 B- /B3 /-

Islamic Rep Of Pakistan XS1056560763 15-Apr-19 1000 200/1 100 USD Fixed 7.250 102.13 104.13 5.96 B- /B3 /-

Islamic Rep Of Pakistan (S) XS1147732553 03-Dec-19 1000 200/1 100 USD Fixed 6.750 101.13 103.13 5.90 B- /B3 /-

Islamic Rep Of Pakistan XS1056560920 15-Apr-24 1000 200/1 100 USD Fixed 8.250 104.88 106.88 7.16 B- /B3 /-

Islamic Rep Of Pakistan USY8793YAL66 31-Mar-36 300 100/1 100 USD Fixed 7.875 93.50 95.50 8.33 B- /B3 /-

Ivory Coast XS1089413089 23-Jul-24 750 200/1 100 USD Fixed 5.375 89.75 91.75 6.62 - /B1 /B

Ivory Coast XS1196517434 03-Mar-28 1000 200/1 100 USD Fixed 6.375 92.50 94.50 7.08 - /B1 /B

Ivory Coast XS0496488395 31-Dec-32 2519 100/1 100 USD Step Cpn 5.750 89.63 91.63 6.96 - /- /B

Kingdom Of Bahrain XS0498952679 31-Mar-20 1250 100/1 100 USD Fixed 5.500 106.00 107.50 3.70 BBB- /NR /BBB-

Kingdom Of Bahrain XS0794901727 05-Jul-22 1500 200/1 100 USD Fixed 6.125 105.88 107.38 4.84 BBB- /- /BBB-

Kingdom Of Bahrain XS0956406135 01-Aug-23 1500 200/1 100 USD Fixed 6.125 106.00 107.50 4.97 BBB- /- /BBB-

Sovereign


September 1, 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 87.25 88.75 6.90 BBB- /- /BBB-

Kingdom Of Jordan XS0557127353 12-Nov-15 750 200/1 100 USD Fixed 3.875 99.00 101.00 -1.31 BB- /B1 /-

Kingdom Of Morocco XS0307883891 27-Jun-17 500 50/1 100 EUR Fixed 5.375 106.38 108.38 0.71 BBB- /Ba1u /BBB-

Kingdom Of Morocco XS0546649822 05-Oct-20 1000 50/1 100 EUR Fixed 4.500 108.25 110.25 2.34 BBB- /- /BBB-

Kingdom Of Morocco XS0850020586 11-Dec-22 1500 200/1 100 USD Fixed 4.250 99.88 101.88 3.95 BBB- /- /BBB-

Kingdom Of Morocco XS1079233810 19-Jun-24 1000 100/1 100 EUR Fixed 3.500 100.75 102.75 3.14 BBB- /- /BBB-

Kingdom Of Morocco US617726AG97 11-Dec-42 750 200/1 100 USD Fixed 5.500 97.88 100.88 5.44 BBB- /- /BBB-

Lebanese Republic XS0493540297 09-Mar-20 1200 1/1 100 USD Fixed 6.375 102.13 104.13 5.33 B- /NR /B

Lebanese Republic XS1196417569 26-Feb-25 800 1/1 100 USD Fixed 6.200 99.13 101.13 6.04 B- /- /B

Lebanese Republic XS1196419854 26-Feb-30 1400 1/1 100 USD Fixed 6.650 99.75 101.75 6.46 B- /NR /B

Malays Govt (S) USY9485PAA04 06-Jul-16 1200 250/1 100 USD Fixed 2.991 100.75 101.75 0.89 A- /A3 /-

Malays Govt (S) USY9485PAB86 06-Jul-21 800 250/1 100 USD Fixed 4.646 108.38 109.88 2.80 A- /A3 /-

Malaysia Sovereign Sukuk (S) USY5749LAA99 22-Apr-25 1000 200/1 100 USD Fixed 3.043 94.50 96.00 3.54 A- /A3 /-

Malaysia Sovereign Sukuk (S) USY5749LAB72 22-Apr-45 500 200/1 100 USD Fixed 4.236 92.75 94.25 4.59 A- /A3 /-

Mongolia Intl Bond US60937GAA40 05-Jan-18 500 200/1 100 USD Fixed 4.125 90.13 92.63 7.62 B+ /B2 /B+

Mongolia Intl Bond US60937GAB23 05-Dec-22 1000 200/1 100 USD Fixed 5.125 79.13 81.63 8.58 B+ /B2 /B+

Provincia De Buenos Aire XS0546539486 05-Oct-15 676 100/1 100 USD Fixed 11.750 98.25 100.75 3.14 CCC- /Caa2 /-

Rak Capital (S) XS0568993918 28-Jan-16 400 100/1 100 USD Fixed 5.239 101.25 102.25 -0.34 A /- /A

Rak Capital (S) XS0981184541 21-Oct-18 500 200/1 100 USD Fixed 3.297 102.25 104.25 1.89 A /- /A

Republic of Angola XS0814512223 16-Aug-19 1000 250/1 100 USD Fixed 7.000 96.13 98.13 8.01 B+ /Ba2 /-

Republic Of Azerbaijan XS1044540547 18-Mar-24 1250 200/1 100 USD Fixed 4.750 95.50 97.00 5.19 - /Baa3 /BBB-

Republic Of Congo XS0334989000 30-Jun-29 409 1/1 100 USD Step Cpn 4.000 86.00 87.50 7.73 - /- /B+

Republic Of Ghana XS0323760370 04-Oct-17 531 100/1 100 USD Fixed 8.500 102.00 104.00 6.42 B- /B3 /B

Republic Of Ghana XS0956935398 07-Aug-23 1000 200/0.001 100 USD Fixed 7.875 89.00 91.00 9.52 B- /B3 /B

Republic Of Ghana XS1108847531 18-Jan-26 1000 200/1 100 USD Fixed 8.125 88.75 90.75 9.65 B- /B3 /B

Republic of Indonesia (S) USY68616AA22 21-Nov-18 1000 200/1 100 USD Fixed 4.000 101.88 103.88 2.73 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAB24 15-Mar-19 1500 200/1 100 USD Fixed 6.125 109.13 110.63 2.93 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAA41 21-Nov-22 1000 200/1 100 USD Fixed 3.300 91.63 93.13 4.42 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BD05 15-Apr-23 1500 200/1 100 USD Fixed 3.375 91.75 93.25 4.43 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BJ74 15-Jan-24 2000 200/1 100 USD Fixed 5.875 107.00 108.50 4.64 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAC07 10-Sep-24 1500 200/1 100 USD Fixed 4.350 94.88 96.38 4.85 (P)BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BG36 15-Jan-25 2000 200/1 100 USD Fixed 4.125 94.63 96.13 4.64 BB+ /Baa3 /BBB-

Republic of Indonesia USY7133MAC39 05-May-25 1100 200/1 100 USD Fixed 4.250 88.13 89.63 5.66 BB+ /Baa3 /BBB-


September 1, 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 94.13 95.63 4.89 - /Baa3 /BBB-

Republic Of Indonesia XS1268430201 30-Jul-25 1250 100/1 100 EUR Fixed 3.375 94.88 96.38 3.82 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BB49 17-Jan-42 2250 200/1 100 USD Fixed 5.250 92.00 93.50 5.73 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BE87 15-Apr-43 1500 200/1 100 USD Fixed 4.625 84.88 86.38 5.60 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BK48 15-Jan-44 2000 200/1 100 USD Fixed 6.750 109.88 111.38 5.92 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BM04 15-Jan-45 2000 200/1 100 USD Fixed 5.125 90.88 92.38 5.66 BB+ /Baa3 /BBB-

Republic of Indonesia USY7133MAB55 05-May-45 500 200/1 100 USD Fixed 5.375 80.38 81.88 6.80 BB+ /Baa3 /BBB-

Republic Of Kazakhstan XS1120709669 14-Oct-24 1500 200/1 100 USD Fixed 3.875 91.13 92.63 4.89 BBB /Baa2 /BBB+

Republic Of Kazakhstan XS1263054519 21-Jul-25 2500 200/1 100 USD Fixed 5.125 97.50 99.00 5.26 BBB /Baa2 /BBB+

Republic Of Kazakhstan XS1120709826 14-Oct-44 1000 200/1 100 USD Fixed 4.875 80.88 82.38 6.19 BBB /Baa2 /BBB+

Republic Of Kazakhstan XS1263139856 21-Jul-45 1500 200/1 100 USD Fixed 6.500 96.13 97.63 6.68 BBB /Baa2 /BBB+

Republic Of Kenya XS1028951850 24-Jun-19 750 200/1 100 USD Fixed 5.875 99.63 101.13 5.54 B+ /- /B+

Republic Of Kenya XS1028952403 24-Jun-24 2000 200/1 100 USD Fixed 6.875 96.63 98.13 7.16 B+ /- /B+

Republic of Mozambique XS0969351450 11-Sep-20 850 200/1 100 USD Fixed 6.305 89.50 91.50 10.37 - /B2 /-

Republic Of Namibia XS0686701953 03-Nov-21 500 200/1 100 USD Fixed 5.500 105.75 107.25 4.15 - /Baa3 /BBB-

Republic Of Nigeria XS0944707651 12-Jul-18 500 200/1 100 USD Fixed 5.125 97.00 99.00 5.51 B+ /- /BB-

Republic Of Nigeria XS0584435142 28-Jan-21 500 200/1 100 USD Fixed 6.750 96.75 98.75 7.03 B+ /- /BB-

Republic Of Nigeria XS0944707222 12-Jul-23 500 200/1 100 USD Fixed 6.375 92.13 94.13 7.37 B+ /- /BB-

Republic Of Rwanda XS0925613217 02-May-23 400 200/1 100 USD Fixed 6.625 99.88 101.88 6.31 B+ /- /B+

Republic Of Senegal XS0625251854 13-May-21 500 200/1 100 USD Fixed 8.750 107.25 109.25 6.76 B+ /B1 /-

Republic Of Senegal XS1090161875 30-Jul-24 500 200/1 100 USD Fixed 6.250 92.50 94.50 7.09 B+ /B1 /-

Republic Of Seychelles XS0471464023 01-Jan-26 169 0.1/0.1 100 USD Step Cpn 7.000 95.50 98.50 7.89 - /- /BB-

Republic Of Slovenia XS0982708926 18-Feb-19 1500 200/1 100 USD Fixed 4.125 104.75 106.25 2.24 A- /Baa3 /BBB+

Republic Of Slovenia XS0982709221 18-Feb-24 2000 200/1 100 USD Fixed 5.250 109.75 111.25 3.69 A- /Baa3 /BBB+

Republic Of South Africa XS0250007498 05-Apr-16 750 50/1 100 EUR Fixed 4.500 101.25 102.75 -0.17 BBB- /Baa2 /BBB

Republic Of South Africa US836205AD62 23-Jun-17 141 1/1 100 USD Fixed 8.500 112.13 113.63 0.86 BBB- /Baa2 /BBB

Republic Of South Africa US836205AM61 27-May-19 2000 100/1 100 USD Fixed 6.875 111.88 113.38 3.05 BBB- /Baa2 /BBB

Republic Of South Africa US836205AN45 09-Mar-20 2000 100/1 100 USD Fixed 5.500 106.75 108.25 3.51 BBB- /Baa2 /BBB

Zar Sov Capital Fund (S) XS1113141441 24-Jun-20 500 200/1 100 USD Fixed 3.903 99.75 101.25 3.62 BBB- /Baa2 /BBB

Republic Of South Africa US836205AL88 30-May-22 1000 100/1 100 USD Fixed 5.875 107.88 109.38 4.26 BBB- /Baa2 /BBB

Republic Of South Africa US836205AQ75 17-Jan-24 1500 100/1 100 USD Fixed 4.665 99.63 101.13 4.50 BBB- /Baa2 /BBB

Republic Of South Africa US836205AR58 16-Sep-25 2000 200/1 100 USD Fixed 5.875 105.88 108.88 4.75 BBB- /Baa2 /BBB

Republic Of South Africa XS1090107159 24-Jul-26 500 100/1 100 EUR Fixed 3.750 98.63 101.63 3.57 BBB- /Baa2 /BBB


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic Of South Africa US836205AP92 08-Mar-41 750 100/1 100 USD Fixed 6.250 108.25 111.25 5.43 BBB- /Baa2 /BBB

Republic Of South Africa US836205AS32 24-Jul-44 1000 200/1 100 USD Fixed 5.375 95.13 98.13 5.50 BBB- /Baa2 /BBB

Republic Of Sri Lanka USY8137FAA67 14-Jan-19 1000 200/1 100 USD Fixed 6.000 101.13 102.63 5.14 B+ /B1 /BB-

Republic Of Sri Lanka USY8137FAB41 11-Apr-19 500 200/1 100 USD Fixed 5.125 98.25 99.75 5.20 B+ /B1 /BB-

Republic Of Sri Lanka USY8137FAC24 03-Jun-25 650 200/1 100 USD Fixed 6.125 96.63 98.13 6.38 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAF12 04-Oct-20 1000 100/1 100 USD Fixed 6.250 100.25 102.25 5.73 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAG94 27-Jul-21 1000 200/1 100 USD Fixed 6.250 98.63 101.63 5.92 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAH77 25-Jul-22 1000 200/1 100 USD Fixed 5.875 95.75 98.75 6.10 B+ /B1 /BB-

Republic of Turkey Hazine M. (S) XS0975124180 10-Oct-18 1250 200/1 100 USD Fixed 4.557 104.00 105.00 2.86 - /Baa3 /BBB-

Republic Of Turkey US900123AX87 05-Jun-20 2000 2/1 100 USD Fixed 7.000 111.63 113.13 3.94 NR /Baa3 /BBB-

Republic Of Turkey XS0503454166 18-May-20 2000 50/1 100 EUR Fixed 5.125 110.38 111.88 2.42 NR /Baa3 /BBB-

Republic Of Turkey US900123CA66 23-Mar-23 1500 200/1 100 USD Fixed 3.250 90.50 92.00 4.51 - /Baa3 /BBB-

Republic Of Turkey XS1057340009 11-Apr-23 1000 100/1 100 EUR Fixed 4.125 104.50 106.00 3.22 - /Baa3 /BBB-

Republic Of Turkey US900123CF53 22-Mar-24 2500 200/1 100 USD Fixed 5.750 105.63 107.13 4.73 - /Baa3 /BBB-

Republic Of Turkey US900123CJ75 14-Apr-26 1500 200/1 100 USD Fixed 4.250 93.00 94.50 4.92 - /Baa3 /BBB-

Hazine Mustesarligi Varl (S) XS1141043296 25-Nov-24 1000 200/1 100 USD Fixed 4.489 96.00 97.50 4.83 - /Baa3 /BBB-

Republic Of Turkey US900123BG46 30-May-40 2000 100/1 100 USD Fixed 6.750 109.25 112.25 5.81 NR /Baa3 /BBB-

Republic Of Turkey US900123CB40 16-Apr-43 3000 200/1 100 USD Fixed 4.875 85.75 88.75 5.69 - /Baa3 /BBB-

Republic Of Turkey (S) XS0831353361 26-Mar-18 1500 200/1 100 USD Fixed 2.803 98.50 100.00 2.80 NR /Baa3 /BBB-

Republic Of Venezuela US922646AT10 15-Aug-18 753 1/1 100 USD Fixed 13.625 55.88 61.88 35.48 CCC /Caa3 /CCC

Republic of Vietnam (Socialist) USY9384RAA87 19-Nov-24 1000 200/1 100 USD Fixed 4.800 95.38 97.38 5.16 BB- /B1 /-

Republic Of Zambia XS0828779594 20-Sep-22 750 200/1 100 USD Fixed 5.375 78.75 81.25 9.03 B /- /B

Republic Of Zambia XS1056386714 14-Apr-24 1000 200/1 100 USD Fixed 8.500 89.88 92.38 9.83 B /- /B

Republic Of Zambia XS1267081575 30-Jul-27 1250 200/1 100 USD Fixed 8.970 90.50 93.00 10.04 B /- /B

Sharjah Sukuk Ltd (S) XS1106137687 17-Sep-24 750 200/1 100 USD Fixed 3.764 103.38 104.88 3.14 A /A3 /-

State Of Qatar XS0615235537 20-Jan-17 2000 200/1 100 USD Fixed 3.125 102.50 103.50 0.58 AA /Aa2 /-

State Of Qatar XS0423038875 09-Apr-19 1000 100/1 100 USD Fixed 6.550 116.25 117.75 1.47 AA /Aa2 /-



State Of Qatar XS0113419690 15-Jun-30 1400 10/1 100 USD Fixed 9.750 162.38 164.88 3.92 AA /Aa2 /-



State Of Qatar (S) XS0801656256 18-Jan-18 2000 200/1 100 USD Fixed 2.099 101.38 102.38 1.08 AA /Aa2 /-


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

State Of Qatar (S) XS0801656330 18-Jan-23 2000 200/1 100 USD Fixed 3.241 103.13 104.63 2.55 AA /Aa2 /-

Tunisia US066716AG65 16-Jul-19 485 200/1 100 USD Fixed 1.686 99.00 101.00 1.42 Not Rated

Tunisia (Banque Centrale de.) XS0222293382 22-Jun-20 400 50/1 100 EUR Fixed 4.500 101.25 103.25 3.74 NR /Ba3 /WD

Tunisia (Banque Centrale de.) US066716AB78 19-Sep-27 150 1/1 100 USD Fixed 8.250 113.63 115.63 6.37 NR /Ba3 /WD

United Rep Of Tanzania XS0896119897 09-Mar-20 600 200/1 100 USD FRN 6.397 98.13 100.63 6.25 Not Rated

Mumtalakat Sukuk Holding (S) XS1143085014 25-Nov-21 600 200/1 100 USD Fixed 4.000 99.13 100.63 3.88 BBB- /- /BBB-

Dubai Holding Comm Op XS0285303748 01-Feb-17 500 50/50 100 GBP Fixed 6.000 100.50 102.00 4.48 NR /WR /WD

IPIC XS0860583672 30-Nov-15 750 200/1 100 USD Fixed 1.750 99.63 100.63 -0.85 AA /Aa2 /AA

IPIC XS0558268628 15-Nov-15 1000 250/1 100 USD Fixed 3.125 99.75 100.75 -0.61 AA /Aa2 /AA

IPIC XS0605558856 14-May-16 1250 100/1 100 EUR Fixed 4.875 102.50 103.50 -0.16 AA /Aa2 /AA

IPIC XS0701035320 01-Mar-17 1500 200/1 100 USD Fixed 3.750 103.00 104.00 1.05 AA /Aa2 /AA

IPIC XS0860583912 30-May-18 800 100/1 100 EUR Fixed 2.375 103.88 104.88 0.57 AA /Aa2 /AA

IPIC XS0558268891 15-Nov-20 1500 250/1 100 USD Fixed 5.000 111.75 112.75 2.38 AA /Aa2 /AA

IPIC XS0605559821 14-Mar-21 1250 100/1 100 EUR Fixed 5.875 122.50 124.00 1.34 AA /Aa2 /AA

IPIC XS0701035676 01-Mar-22 1500 200/1 100 USD Fixed 5.500 113.75 114.75 2.98 AA /Aa2 /AA

IPIC XS0860584308 30-May-23 850 100/1 100 EUR Fixed 3.625 112.63 113.63 1.73 AA /Aa2 /AA

IPIC XS0701227075 01-Nov-41 750 200/1 100 USD Fixed 6.875 132.63 134.63 4.59 AA /Aa2 /AA

Kuwait Projects Co XS0457137841 17-Oct-16 500 100/1 100 USD Fixed 8.875 106.38 107.88 1.75 BBB- /Baa3 /-

Kuwait Projects Co XS1026105806 05-Feb-19 500 200/1 100 USD Fixed 4.800 102.63 104.13 3.51 BBB- /Baa3 /-

Kuwait Projects Co XS0526235535 15-Jul-20 500 100/1 100 USD Fixed 9.375 122.25 125.25 3.66 BBB- /Baa3 /-

Mubadala XS0613313104 20-Apr-16 750 200/1 100 USD Fixed 3.750 101.25 102.25 0.18 AA /Aa2 /AA

Mubadala XS0426993571 06-May-19 500 250/1 100 USD Fixed 7.625 118.50 119.50 2.08 AA /Aa2 /AA



Yasar Holdings XS1132450427 06-May-20 250 200/1 100 USD Fixed 8.875 103.00 105.50 7.32 - /B2 /B

Zagrebacki Holding Doo XS0309688918 10-Jul-17 300 50/50 100 EUR Fixed 5.500 95.00 96.50 7.58 B+ /Ba2 /-

Abu Dhabi Comm. Bk. (S) XS0708308845 22-Nov-16 500 200/1 100 USD Fixed 4.071 102.50 103.50 1.17 A /A1u /A+

Abu Dhabi Comm. Bk. XS0897453907 06-Mar-18 750 200/1 100 USD Fixed 2.500 100.00 101.50 1.88 A /A1u /A+

Abu Dhabi Comm. Bk. XS1040257062 04-Mar-19 750 200/1 100 USD Fixed 3.000 101.00 102.50 2.25 A /NR /A+

Abu Dhabi Comm. Bk. XS1110651012 16-Sep-19 600 200/1 100 USD Fixed 2.750 99.63 101.13 2.45 A /NR /A+

Adcb Finance Cayman Ltd XS1199968998 10-Mar-20 750 200/1 100 USD Fixed 2.625 98.63 100.13 2.59 A /- /A+

Diversified

Financial Institutions


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abu Dhabi Comm. Bk. XS0897453493 06-Mar-23 750 200/1 100 USD Fixed 4.500 101.38 102.88 4.05 A- /NR /A

Abu Dhabi Comm. Bk. AU3CB0221414 28-May-19 250 10/10 100 AUD Fixed 4.750 102.25 103.75 3.66 A /- /A+

Abu Dhabi Islm. Bank (S) XS0556042405 04-Nov-15 750 100/1 100 USD Fixed 3.745 99.38 100.88 -1.42 - /A2 /A+

Abu Dhabi Islm. Bank (S) XS0711035286 30-Nov-16 500 200/1 100 USD Fixed 3.780 101.75 103.25 1.14 - /A2 /A+

Access Bank Plc XS0807677496 25-Jul-17 350 200/1 100 USD Fixed 7.250 95.38 97.38 8.77 B+ /- /B

Access Bank Plc XS1078208334 24-Jun-21 400 200/1 100 USD Variable 9.250 84.75 86.75 13.83 B- /- /B-

ADIB Tier 1 (S) XS0851081660 Perpetual 1000 200/1 100 USD Variable 6.375 103.63 105.13 4.59 Not Rated

Africa Finance Corp XS1225008538 29-Apr-20 750 200/1 100 USD Fixed 4.375 99.13 101.13 4.10 - /A3 /-

African Bank Limited XS0638008051 15-Jun-16 350 200/1 100 USD Flat Trading 6.000 55.63 75.63 49.19 - /Caa2 /-

African Bank Limited XS0751016865 24-Feb-17 350 200/1 100 USD Flat Trading 8.125 59.00 79.00 26.39 - /Caa2 /-

African Export-Import Ba XS0650262875 27-Jul-16 500 200/1 100 USD Fixed 5.750 101.38 103.38 1.94 NR /Baa2 /BBB-

African Export-Import Ba XS0938043766 04-Jun-18 500 200/1 100 USD Fixed 3.875 98.00 100.00 3.87 NR /Baa2 /BBB-

African Export-Import Ba XS1091688660 29-Jul-19 700 200/1 100 USD Fixed 4.750 99.25 101.25 4.40 - /Baa2 /BBB-

AK Lease XS0914394688 17-Apr-18 250 200/1 100 USD Fixed 4.125 97.75 99.75 4.23 - /- /BBB-

Akbank USM0375YAJ75 24-Oct-17 500 150/1 100 USD Fixed 3.875 99.75 101.75 3.02 - /Baa3 /BBB-

Akbank USM0300LAC02 09-Mar-18 500 150/1 100 USD Fixed 6.500 105.13 107.13 3.51 - /Baa3 /BBB-

Akbank Tas XS1111101314 24-Jan-20 500 200/1 100 USD Fixed 4.000 95.38 97.38 4.67 - /Baa3 /BBB-

Akbank USM0375YAK49 24-Oct-22 500 150/1 100 USD Fixed 5.000 96.38 98.38 5.27 - /Baa3 /BBB-

Akbank XS1210422074 31-Mar-25 500 200/1 100 USD Fixed 5.125 93.00 94.50 5.88 - /Baa3 /BBB-

Albaraka Turk Katilim Ba (S) XS1082151868 30-Jun-19 350 200/1 100 USD Fixed 6.250 99.38 101.38 5.84 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 3.267 101.88 103.88 1.97 - /A1 /A+

Al Hilal Bank Tier 1 (S) XS1073217561 Perpetual 500 200/1 100 USD Variable 5.500 100.13 102.13 4.88 Not Rated

Ahli United Bank XS1133289832 Perpetual 400 200/1 100 USD Variable 6.875 101.38 103.38 6.03 Not Rated

Alternatifbank As XS1089556358 22-Jul-19 250 200/1 100 USD Fixed 3.125 98.25 100.25 3.06 - /- /A+

Astra Sedaya Finance Pt XS1210971682 01-Apr-18 300 200/1 100 USD Fixed 2.875 97.38 98.88 3.33 - /Baa3 /BBB-

Axis Bank/Dubai XS0463466028 30-Sep-15 350 100/1 100 USD Fixed 5.250 98.50 100.50 -1.38 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAA64 02-May-16 500 100/1 100 USD Fixed 4.750 100.25 102.25 1.32 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAB48 05-Sep-17 750 200/1 100 USD Fixed 5.125 104.38 105.88 2.11 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAC21 21-May-20 750 200/1 100 USD Fixed 3.250 98.50 100.50 3.13 BBB- /Baa3 /BBB-

Axis Bank/Singapore XS0308100667 28-Jun-22 60 100/1 100 USD Variable 7.125 101.88 104.38 4.58 - /Ba2 /-

Banco Daycoval Sa XS1046809171 19-Mar-19 500 150/1 100 USD Fixed 5.750 96.38 98.38 6.27 BB+ /Baa3 /BBB-

Bank Dhofar XS1233710380 Perpetual 300 200/1 100 USD Variable 6.850 98.88 100.88 6.63 Not Rated


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Banco Do Brasil XS0955552178 25-Jul-18 1000 100/1 100 EUR Fixed 3.750 97.50 99.50 3.93 BBB- /Baa3 /BBB

Banco Industr E Comrcl XS0552649021 25-Oct-15 400 100/1 100 USD Fixed 5.250 98.63 100.63 0.87 - /Baa3 /-

Bank Asya Tier 2 (S) XS0907295942 28-Mar-23 250 200/1 100 USD Variable 7.500 73.38 80.38 17.27 - /C /-

Bk Of Moscow (Kuznetski) XS0236336045 25-Nov-15 300 100/1 100 USD Variable 5.967 95.88 100.88 2.05 - /B1 /WD

Bank Muscat Saog XS0908549685 26-Mar-18 500 200/1 100 USD Fixed 2.500 98.75 100.75 2.20 A- /A1 /BBB+

Bank of Bahrain & Kuwait XS0553706135 28-Oct-15 500 100/1 100 USD Fixed 4.500 99.38 100.88 -1.23 - /Baa3 /BBB-

Bank Of Baroda/London XS0483734298 07-Oct-15 350 100/1 100 USD Fixed 4.750 99.13 100.63 -1.87 - /Baa3 /BBB-

Bank Of Baroda/London XS0594008517 24-Aug-16 500 200/1 100 USD Fixed 5.000 101.88 103.38 1.49 - /Baa3 /BBB-

Bank Of Baroda/London USY04342AA28 23-Jul-19 1000 200/1 100 USD Fixed 4.875 105.38 106.88 2.99 - /Baa3 /BBB-

Bank Of Baroda/London XS0301888615 25-May-22 300 100/1 100 USD Variable 6.625 101.25 103.75 4.34 NR /Ba2 /B+

Bank Of Ceylon USY0646EAR37 03-May-17 500 200/1 100 USD Fixed 6.875 100.75 103.25 4.81 - /B1 /BB-

Bank Of Ceylon XS0914798268 16-Apr-18 500 200/1 100 USD Fixed 5.325 97.75 100.25 5.22 - /- /BB-

Bank Of China US06120TAA60 13-Nov-24 3000 200/1 100 USD Fixed 5.000 101.38 102.88 4.61 BBB+ /Baa3 /BBB+

Bank Of China XS1122780106 Perpetual 39940 2000/10 100 CNY Variable 6.750 103.88 105.88 5.13 BB- /Ba2 /-

Bank Of India London XS0498932721 30-Sep-15 750 100/1 100 USD Fixed 4.750 99.00 100.50 -1.87 BBB- /Baa3 /-

Bank Of India London USY06865AA04 21-Sep-18 500 200/1 100 USD Fixed 3.625 100.50 102.50 2.76 BBB- /Baa3 /-

Bank Of India/Jersey XS1227592703 06-May-20 750 200/1 100 USD Fixed 3.125 97.50 99.50 3.24 BBB- /Baa3 /-

Bank Of India London XS0592238876 16-Feb-21 500 200/1 100 USD Fixed 6.250 111.00 113.00 3.60 BBB- /Baa3 /-

Bank Of India/Jersey XS0294208235 Perpetual 85 100/1 100 USD Variable 6.994 100.75 102.75 5.16 B+ /B3 /-

Bank Of Sharjah XS1117297272 08-Jun-20 500 200/1 100 USD Fixed 3.374 97.00 98.50 3.72 - /- /BBB+

Bank Saudi Fransi (S) XS0784910431 22-May-17 750 200/1 100 USD Fixed 2.947 101.00 103.00 1.18 A /- /A

Bawag P.S.K. XS0987169637 30-Oct-23 300 100/100 100 EUR Fixed 8.125 124.50 125.50 4.34 - /Ba1 /-

Banque Marocaine Du Comm XS0998123037 27-Nov-18 300 200/1 100 USD Fixed 6.250 103.63 104.63 4.69 - /Ba1 /-

Bbk XS1207170736 24-Mar-20 400 200/1 100 USD Fixed 3.500 97.63 98.63 3.83 - /Baa3 /BBB-

Burgan Bank XS0545106592 29-Sep-20 400 100/1 100 USD Fixed 7.875 107.13 109.13 5.77 BBB /Ba1 /-

Burgan Tier 1 Financing XS1106874198 Perpetual 500 200/1 100 USD Variable 7.250 97.25 99.25 7.46 Not Rated

Canara Bank London XS0595649608 09-Sep-16 350 200/1 100 USD Fixed 5.125 100.63 103.63 1.51 - /Baa3 /BBB-

Cbq Finance Ltd XS1079720212 24-Jun-19 750 200/1 100 USD Fixed 2.875 101.63 102.63 2.15 A- /A1 /-

Charming Light Investmen XS1104029027 03-Sep-19 1100 200/1 100 USD Fixed 3.750 98.88 100.88 3.51 - /Baa1 /A-

China Overseas Finance XS0984184316 29-Oct-18 500 200/1 100 USD Fixed 3.375 99.25 101.25 2.96 BBB+ /Baa1 /BBB+

Citic Securities Fin Mtn XS1130968453 30-Oct-19 650 200/1 100 USD Fixed 3.500 98.50 100.00 3.50 BBB+ /Baa1 /-

Commercial Bank Of Dubai XS0933999863 21-May-18 500 200/1 100 USD Fixed 3.375 101.13 102.63 2.37 - /Baa1 /A-

Commercial Bank of Qatar XS0771860003 11-Apr-17 500 200/1 100 USD Fixed 3.375 101.75 103.75 1.01 A- /A1 /-


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Commercial Bank of Qatar XS0466365383 18-Nov-19 600 100/1 100 USD Fixed 7.500 116.88 118.88 2.72 BBB+ /Baa1 /-

Credit Bank of Moscow XS0924078453 13-Nov-18 500 200/1 100 USD Fixed 8.700 86.25 89.25 12.90 - /NR /BB-

Credit Bank of Moscow XS0879105558 01-Feb-18 500 200/1 100 USD Fixed 7.700 96.25 99.25 8.04 BB- /B1 /BB

Diamond Bank Plc XS1069387923 21-May-19 200 200/1 100 USD Fixed 8.750 89.00 91.50 11.62 B /- /B

Doha Bank XS0757032445 14-Mar-17 500 200/1 100 USD Fixed 3.500 101.88 103.38 1.26 A- /A2 /A+

Dubai Islamic Bank (S) XS0787130540 30-May-17 500 200/1 100 USD Fixed 4.752 103.38 105.38 1.61 - /Baa1 /A

Dib Sukuk Ltd (S) XS1241110300 03-Jun-20 750 200/1 100 USD Fixed 2.921 98.88 100.38 2.83 - /Baa1 /A

Dib Tier 1 Sukuk Ltd (S) XS0902330769 Perpetual 1000 200/1 100 USD Variable 6.250 102.75 104.75 4.78 Not Rated

Dib Tier 1 Sukuk 2 Ltd (S) XS1167284436 Perpetual 1000 200/1 100 USD Variable 6.750 104.25 106.25 5.39 Not Rated

Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 101.75 103.75 5.11 - /Ba1 /BB

Ebn Finance Co Bv XS1093771639 14-Aug-21 250 200/1 100 USD Variable 8.750 84.63 86.63 13.20 B- /- /-

Emirates Bank XS0272489187 31-Oct-16 83 100/1 100 USD FRN 1.497 93.13 98.13 3.16 NR /Baa3 /A

Emirates Bank XS0765257141 28-Mar-17 1000 200/1 100 USD Fixed 4.625 102.88 104.38 1.78 - /Baa1 /A+

Emirates Islamic Bank (S) XS0731642491 18-Jan-17 500 200/1 100 USD Fixed 4.718 102.75 104.25 1.58 - /Baa1 /A+

Emirates Islamic Bank (S) XS0803231827 11-Jan-18 500 200/1 100 USD Fixed 4.147 102.88 104.38 2.23 - /Baa1 /A+

Emirates Nbd Pjsc XS1138457590 19-Nov-19 1000 200/1 100 USD Fixed 3.250 100.00 101.50 2.87 - /Baa1 /A+

Emirates Nbd Pjsc XS1227814883 06-May-20 350 200/1 100 USD Fixed 3.000 98.63 100.13 2.97 - /Baa1 /A+

Emirates NBD XS0910935021 28-Mar-23 750 200/1 100 USD Variable 4.875 102.50 104.00 3.24 - /NR /A

Emirates NBD Tier 1 XS0935833292 Perpetual 1000 200/1 100 USD Variable 5.750 98.00 100.00 5.75 Not Rated

Emirates Nbd 2014 Tier 1 XS1111114135 Perpetual 500 200/1 100 USD Variable 6.375 99.75 101.75 5.97 Not Rated

Emirates Nbd Pjsc XS1207079499 23-Mar-22 550 100/1 100 EUR Fixed 1.750 93.63 95.13 2.57 - /Baa1 /A+

Emirates Nbd Pjsc AU3CB0220861 08-May-19 400 10/10 100 AUD Fixed 5.750 104.38 106.38 3.87 - /Baa1 /A+

Export Credit Bank Of Tu XS1028943089 23-Sep-21 500 200/1 100 USD Fixed 5.000 97.50 99.50 5.10 BB+ /Baa3 /BBB-

Export-Import Bk India XS0813393849 07-Aug-17 500 200/1 100 USD Fixed 4.000 101.88 103.88 1.94 BBB- /Baa3 /-

Export-Import Bk India XS1050464996 02-Oct-19 500 200/1 100 USD Fixed 3.875 102.13 104.13 2.80 BBB- /Baa3 /-

Export-Import Bk India XS1165130219 12-Aug-20 500 200/1 100 USD Fixed 2.750 97.00 99.00 2.97 BBB- /Baa3 /-

Export-Import Bk India XS0872917660 14-Jan-23 750 200/1 100 USD Fixed 4.000 99.63 101.13 3.82 BBB- /Baa3 /-

First Bank of Nigeria XS0957590689 07-Aug-20 300 200/1 100 USD Variable 8.250 80.50 83.50 15.46 B- /- /B-

First Bank of Nigeria XS1090370104 23-Jul-21 450 200/1 100 USD Variable 8.000 75.38 77.88 15.82 B- /- /B-

Fidelity Bank Plc XS0928527257 09-May-18 300 200/1 100 USD Fixed 6.875 83.13 85.63 13.42 B /- /B

Finansbank As XS0849733273 01-Nov-17 350 200/1 100 USD Fixed 5.150 98.63 101.63 4.35 - /Ba2 /BBB-

Finansbank As USM4R36CAA80 11-May-16 500 200/1 100 USD Fixed 5.500 99.00 102.00 2.54 - /Ba2 /BBB-

Finansbank As XS1063442484 30-Apr-19 500 200/1 100 USD Fixed 6.250 99.63 102.63 5.44 - /Ba2 /BBB-


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

First Gulf Bank XS0840538994 09-Oct-17 650 200/1 100 USD Fixed 2.862 101.50 102.50 1.65 - /A2 /A+

First Gulf Bank (S) XS0654587996 02-Aug-16 650 200/1 100 USD Fixed 3.797 101.25 102.75 0.77 - /A2 /A+

First Gulf Bank (S) XS0731930797 18-Jan-17 500 200/1 100 USD Fixed 4.046 102.50 104.00 1.11 - /A2 /A+

First Gulf Bank XS1193304596 24-Feb-20 750 200/1 100 USD Fixed 2.625 98.50 100.00 2.62 - /A2 /A+

Firstrand Bank Ltd XS0635404477 09-Jun-16 500 200/1 100 USD Fixed 4.375 101.38 102.88 0.60 BBB- /Baa2 /BBB

Gazprombk (Gpb Finance) XS0779213460 03-May-19 500 200/1 100 USD Fixed 7.250 95.13 99.13 7.52 BB- /B2 /BB

Gazprombk (Gpb Finance) XS1040726587 05-Sep-19 750 200/1 100 USD Fixed 4.960 90.38 94.38 6.58 BB+ /- /BB+

Gazprombk (Gpb Finance) XS0975320879 28-Dec-23 750 200/1 100 USD Variable 7.496 79.50 84.50 13.42 - /NR /B+

Gazprombk (Gpb Finance) XS0848137708 Perpetual 1000 200/1 100 USD Variable 7.875 76.13 79.13 18.14 - /NR /-

GIC Funding Ltd XS0859236092 28-Nov-17 500 200/1 100 USD Fixed 3.250 101.00 102.50 2.10 - /A2 /-

GIC Funding Ltd CH0198380237 16-Nov-15 300 5/5 100 CHF Fixed 2.750 99.38 100.88 -1.54 - /A2 /-

Guaranty Trust Bank XS0628652884 19-May-16 500 200/1 100 USD Fixed 7.500 99.75 101.75 4.95 B+ /- /B+

Guaranty Trust Bank XS0992162635 08-Nov-18 400 200/1 100 USD Fixed 6.000 90.38 92.38 8.79 B+ /- /B+

Gulf International Bank XS0863496633 11-Dec-17 500 200/1 100 USD Fixed 2.375 99.00 101.00 1.92 BBB+ /A3 /A

Haitong Intl Fin 2014 XS1107172535 11-Sep-19 600 200/1 100 USD Fixed 3.990 98.50 100.50 3.85 BBB /- /-

Haitong Intl Fin 2015 XS1170096454 29-Jul-20 700 200/1 100 USD Fixed 4.200 98.75 100.75 4.03 BBB /- /-

Hdfc Bank Ltd/Bah XS0897434949 06-Mar-18 500 200/1 100 USD Fixed 3.000 99.63 101.63 2.33 BBB- /Baa3 /-

Huarong Finance Co Ltd XS1086081707 17-Jul-17 300 200/1 100 USD Fixed 3.000 99.50 101.00 2.45 BBB+ /Baa1 /A

Huarong Finance Co Ltd XS1088292815 17-Jul-19 1200 200/1 100 USD Fixed 4.000 100.25 101.75 3.51 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 98.13 100.13 4.61 Not Rated

Icici Bank Ltd/Dubai US45112FAC05 21-Feb-18 1000 200/1 100 USD Fixed 4.700 103.88 105.38 2.44 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAE60 22-May-19 1000 200/1 100 USD Fixed 4.800 105.13 106.63 2.90 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAG19 18-Mar-20 700 200/1 100 USD Fixed 3.500 100.25 101.75 3.08 BBB- /Baa3 /BBB-

IDBI Bank XS0832492267 26-Mar-18 500 200/1 100 USD Fixed 4.375 101.75 103.25 3.05 BB+ /Baa3 /BBB-

IDBI Bank XS0908349912 25-Jan-19 500 200/1 100 USD Fixed 3.750 99.63 101.13 3.39 BB+ /Baa3 /BBB-

IDBI Bank XS1048474396 25-Sep-19 300 200/1 100 USD Fixed 5.000 103.75 105.25 3.60 BB+ /Baa3 /BBB-

IDBI Bank XS1128264758 23-Apr-20 350 200/1 100 USD Fixed 4.125 100.25 101.75 3.71 BB+ /Baa3 /BBB-

Indian Overseas Bank/Hk XS0615783239 19-Oct-16 500 200/1 100 USD Fixed 5.000 102.38 103.38 1.95 BB+ /(P)Ba1 /-

Indian Overseas Bank/Hk XS0773015853 21-Feb-18 500 200/1 100 USD Fixed 4.625 102.25 103.75 3.04 BB+ /Ba1 /-

Ind & Comm Bk Chn/Dubai XS1237348070 26-May-20 500 200/1 100 USD Fixed 2.625 97.63 99.13 2.82 - /A1 /-

Int. Bank of Azerbaijan XS1076436218 11-Jun-19 500 200/1 100 USD Fixed 5.625 92.25 94.25 7.40 - /Ba3 /BB

Investcorp Sa XS0847495248 01-Nov-17 250 200/1 100 USD Fixed 8.250 104.63 107.13 4.74 - /Ba2 /BB


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Investec Bank Ltd XS0807715098 24-Jul-17 300 200/1 100 USD Fixed 3.875 100.50 102.50 2.51 - /Baa2 /BBB-

Itau Unibanco Hldg Sa/Ky US46556MAB81 22-Jan-21 1250 100/1 100 USD Fixed 5.750 97.63 99.13 5.94 - /Ba1 /BBB-

Korea Exchange Bank XS1120608713 14-Oct-24 300 200/1 100 USD Fixed 4.250 100.63 102.63 3.90 BBB /Baa2 /BBB

Kuveyt Turk (S) XS0698260758 31-Oct-16 350 200/1 100 USD Fixed 5.875 103.13 104.63 1.82 - /- /BBB

Kuveyt Turk (S) XS1079236169 26-Jun-19 500 200/1 100 USD Fixed 5.162 102.13 103.63 4.12 - /- /BBB

Mashreqbank XS0283928264 24-Jan-17 354 100/100 100 USD FRN 1.420 94.75 98.75 2.36 BBB /Ba2 /A-

Mubadala Ge Capital Ltd US62476BAA89 10-Nov-19 500 200/1 100 USD Fixed 3.000 98.25 100.25 2.94 - /Baa2 /A

National Bk Of Abu Dhabi XS0763531406 27-Mar-17 750 200/1 100 USD Fixed 3.250 102.38 103.38 1.07 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0206068 07-Mar-18 300 10/10 100 AUD Fixed 5.000 103.63 104.63 3.07 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0219392 19-Mar-19 400 10/10 100 AUD Fixed 4.750 103.63 104.63 3.35 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS0815939656 13-Aug-19 750 200/1 100 USD Fixed 3.000 102.25 103.25 2.14 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1186986904 11-Feb-20 750 200/1 100 USD Fixed 2.250 99.00 100.00 2.25 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1243334668 Perpetual 750 200/1 100 USD Variable 5.250 101.00 102.50 4.66 BBB- /Baa3 /-

National Bank of Kuwait Tier 1 XS1206972348 Perpetual 700 200/1 100 USD Variable 5.750 101.63 103.13 5.10 - /Baa3 /-

National Savings Bank USY62526AA99 18-Sep-18 750 200/1 100 USD Fixed 8.875 106.00 108.00 5.96 B+ /- /BB-

National Savings Bank USY62526AB72 10-Sep-19 250 200/1 100 USD Fixed 5.150 95.13 97.13 5.96 B+ /- /BB-

Noor Sukuk Co Ltd (S) XS1224417847 28-Apr-20 500 200/1 100 USD Fixed 2.788 97.75 99.25 2.96 - /- /A-

Qatar Islamic Bank (S) XS0545395765 07-Oct-15 750 100/1 100 USD Fixed 3.856 99.63 100.63 -2.75 - /- /A+

Qatar Islamic Bank (S) XS0841096497 10-Oct-17 750 200/1 100 USD Fixed 2.500 100.75 102.25 1.41 - /- /A+

Qatar National Bank XS0559355135 16-Nov-15 1500 200/1 100 USD Fixed 3.125 99.88 100.88 -1.19 A+ /Aa3 /AA-

Qatar National Bank XS0748305017 22-Feb-17 1000 200/1 100 USD Fixed 3.375 101.75 103.25 1.14 A+ /Aa3 /AA-

Qatar National Bank XS0854469599 14-Feb-18 1000 200/1 100 USD Fixed 2.125 99.50 101.00 1.71 A+ /Aa3 /AA-

QIIB Sukuk Funding Ltd (S) XS0843912808 18-Oct-17 700 200/1 100 USD Fixed 2.688 101.50 102.50 1.49 - /A2 /A+

Rakfunding Cayman Ltd XS1078355986 24-Jun-19 800 200/1 100 USD Fixed 3.250 99.25 100.75 3.04 - /Baa1 /BBB+

Russian Agricultural Bank XS0796426228 27-Dec-17 1300 200/1 100 USD Fixed 5.298 98.00 100.00 5.29 - /Ba2 /BB+

Russian Agricultural Bank XS0955232854 25-Jul-18 1300 200/1 100 USD Fixed 5.100 95.00 97.50 6.05 - /Ba2 /BB+

Saudi British Bank XS0559277743 12-Nov-15 600 100/100 100 USD Fixed 3.000 99.75 100.75 -0.90 A /- /A

Sberbank (Sb Cap Sa) XS0799357354 28-Jun-19 1000 200/1 100 USD Fixed 5.180 97.38 99.38 5.36 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0897427570 04-Mar-18 550 300/1 100 TRY Fixed 7.400 83.38 85.38 14.58 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0848530977 29-Oct-22 2000 200/1 100 USD Fixed 5.125 83.63 85.63 7.78 - /Ba2 /BB+

Sberbank (Sb Cap Sa) XS0935311240 23-May-23 1000 200/1 100 USD Fixed 5.250 80.75 82.75 8.32 - /- /BB+

Sberbank (Sb Cap Sa) XS1032750165 26-Feb-24 1000 200/1 100 USD Variable 5.500 80.63 82.63 11.72 - /- /BB+

SIB Sukuk Co. Ltd (S) XS0625554836 25-May-16 400 200/1 100 USD Fixed 4.715 102.00 103.00 0.58 BBB+ /- /BBB+


September 1, 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 2.950 101.00 102.00 2.16 BBB+ /- /BBB+

State Bank India/London USU85528AB04 01-Aug-17 1250 200/1 100 USD Fixed 4.125 102.38 103.88 2.04 BBB- /Baa3 /BBB-

State Bank India/London USY81636AC94 18-Apr-18 1000 200/1 100 USD Fixed 3.250 100.63 102.13 2.41 BBB- /Baa3 /BBB-

State Bank India/London USY81647AA02 17-Apr-19 750 200/1 100 USD Fixed 3.622 101.50 103.00 2.74 BBB- /Baa3 /BBB-

State Bank India/London USY81647AB84 17-Apr-24 500 200/1 100 USD Fixed 4.875 105.13 106.63 3.96 BBB- /Baa3 /BBB-

State Bank Of India XS0287244627 Perpetual 400 100/1 100 USD Variable 6.439 101.25 104.25 3.83 BB /B1 /B

State Bank Of India XS0307996586 Perpetual 225 100/1 100 USD Variable 7.140 102.38 105.38 4.03 BB /B1 /-

Syndicate Bank/London XS0620328392 06-Nov-16 500 200/1 100 USD Fixed 4.750 100.50 103.50 1.73 BBB- /Baa3 /-

Syndicate Bank XS0841358103 12-Apr-18 500 200/1 100 USD Fixed 4.125 101.88 103.38 2.77 BBB- /Baa3 /-

Tamweel (S) XS0734046815 18-Jan-17 300 200/1 100 USD Fixed 5.154 102.63 104.63 1.73 - /Baa1 /A

Tc Ziraat Bankasi As XS1083936028 03-Jul-19 750 200/1 100 USD Fixed 4.250 97.38 99.38 4.43 - /Baa3 /BBB-

Turkiye Finans Varlik Kiralama (S) XS0922143382 02-May-18 500 200/1 100 USD Fixed 3.950 98.00 100.00 3.95 - /- /BBB

Turkiye Finans Varlik Kiralama (S) XS1057852912 24-Apr-19 500 200/1 100 USD Fixed 5.375 101.38 103.38 4.36 - /- /BBB

Turkiye Garanti Bankasi USM8931TAE93 13-Sep-17 600 200/1 100 USD Fixed 4.000 99.63 101.63 3.16 - /Baa3 /BBB

Turkiye Garanti Bankasi XS1057541838 17-Oct-19 750 200/1 100 USD Fixed 4.750 99.13 101.13 4.45 - /Baa3 /BBB

Turkiye Garanti Bankasi USM8931TAF68 13-Sep-22 750 200/1 100 USD Fixed 5.250 98.00 100.00 5.25 - /Baa3 /BBB

Turkiye Garanti Bankasi XS0935802495 23-May-18 175 200/1 100 AUD Fixed 5.500 98.75 100.75 5.19 - /Baa3 /BBB

Turkiye Halk Bankasi XS0806482948 19-Jul-17 750 200/1 100 USD Fixed 4.875 100.88 102.88 3.28 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1069383856 04-Jun-19 500 200/1 100 USD Fixed 4.750 98.38 100.38 4.64 - /Baa3 /BBB-

Turkiye Halk Bankasi XS0882347072 05-Feb-20 750 200/1 100 USD Fixed 3.875 93.63 95.63 4.99 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1188073081 11-Feb-21 500 200/1 100 USD Fixed 4.750 95.25 97.25 5.34 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0852697712 07-Nov-17 500 200/1 100 USD Fixed 3.875 98.88 101.38 3.21 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0982644774 21-Apr-19 500 200/1 100 USD Fixed 5.500 100.88 103.38 4.48 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS1079527211 25-Jun-21 750 200/1 100 USD Fixed 5.000 97.25 99.25 5.15 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0847042024 24-Oct-22 1000 200/1 100 USD Fixed 6.000 95.38 97.88 6.37 - /Ba2 /BB+

Turkiye Is Bankasi A.S XS0808632250 10-Oct-18 750 200/1 100 USD Fixed 3.750 98.00 99.00 4.10 - /Baa3 /BBB-

Turkiye Sinai Kalkinma B XS1117601796 30-Oct-19 350 200/1 100 USD Fixed 5.375 99.38 101.38 5.00 - /Baa3 /BBB-

Turkiye Sinai Kalkinma B XS1219733752 22-Apr-20 350 200/1 100 USD Fixed 5.125 97.38 99.38 5.28 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0916347759 15-Apr-18 600 200/1 100 USD Fixed 3.750 97.00 99.00 4.16 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0987355939 31-Oct-18 500 200/1 100 USD Fixed 5.000 99.88 101.88 4.35 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS1077629225 17-Jun-19 500 100/1 100 EUR Fixed 3.500 98.13 100.13 3.46 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0849728190 01-Nov-22 900 200/1 100 USD Fixed 6.000 94.88 96.88 6.55 - /Ba2 /BB+

Turkiye Vakiflar Bankasi XS1175854923 03-Feb-25 500 200/1 100 USD Variable 6.875 95.13 97.13 7.65 - /Ba3 /BB+


September 1, 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 4.625 102.88 104.38 2.34 BBB- /Baa3 /-

Union Bank Of India Hk XS0923436264 25-Oct-18 350 200/1 100 USD Fixed 3.625 100.88 102.38 2.83 BBB- /Baa3 /-

Union Bank Of India Hk XS1062051161 28-Oct-19 350 200/1 100 USD Fixed 4.500 104.00 105.50 3.08 BBB- /Baa3 /-

Vnesheconombank(Veb) XS0524610812 09-Jul-20 1600 100/1 100 USD Fixed 6.902 95.50 98.50 7.27 BB+ /- /BBB-

VTB Bank XS0592794597 22-Feb-18 698 200/1 100 USD Fixed 6.315 98.88 101.88 5.49 BB+ /Ba1 /WD

VTB Bank XS0772509484 12-Apr-17 2000 200/1 100 USD Fixed 6.000 98.88 101.88 4.77 - /Ba1 /WD

VTB Bank XS0842078536 17-Oct-22 1500 200/1 100 USD Fixed 6.950 86.25 89.25 9.03 BB- /Ba3 /WD

Yapi Ve Kredi Bankasi As XS0994815016 03-Dec-18 500 200/1 100 USD Fixed 5.250 101.25 102.75 4.33 - /Baa3 /BBB

Yapi Ve Kredi Bankasi As XS1028938915 22-Oct-19 550 200/1 100 USD Fixed 5.125 99.38 100.88 4.89 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0874840688 22-Jan-20 500 200/1 100 USD Fixed 4.000 95.00 96.50 4.90 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0861979440 06-Dec-22 1000 200/1 100 USD Fixed 5.500 93.88 95.38 6.30 - /Ba2 /BBB-

Zenith Bank Plc XS1057929645 22-Apr-19 500 200/1 100 USD Fixed 6.250 90.25 92.25 8.78 B+ /- /B+

Aldar Sukuk (S) XS0993959583 03-Dec-18 750 200/1 100 USD Fixed 4.348 104.38 105.88 2.45 BBB- /Baa3 /-

China Os Grand Ocean Fin XS0996662853 23-Jan-19 400 200/1 100 USD Fixed 5.125 100.75 102.25 4.40 BBB- /Baa2 /BBB

Coca-Cola Icecek Uretim XS0975576165 01-Oct-18 500 200/1 100 USD Fixed 4.750 103.63 105.13 2.99 - /Baa3 /BBB

Country Garden Hldg Co USG24524AJ24 27-May-19 550 200/1 100 USD Fixed 7.875 103.88 105.88 6.08 BB+ /Ba1 /BB+

Country Garden Hldg Co USG24524AH67 04-Apr-21 750 200/1 100 USD Fixed 7.250 98.75 101.25 6.89 BB+ /Ba1 /-

Country Garden Hldg Co USG24524AG84 10-Jan-23 750 200/1 100 USD Fixed 7.500 97.75 99.75 7.54 BB+ /Ba1 /-

Damac (S) XS1054932154 09-Apr-19 650 200/1 100 USD Fixed 4.970 93.50 95.00 6.55 BB /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0997146203 25-Nov-16 300 200/1 100 USD Fixed 5.750 100.38 102.38 3.74 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0937237831 24-May-18 450 200/1 100 USD Fixed 5.750 99.25 101.25 5.25 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS1072498006 28-May-19 400 200/1 100 USD Fixed 6.500 100.88 102.88 5.63 B+ /- /-

Delhi International Airp XS1165980274 03-Feb-22 289 200/1 100 USD Fixed 6.125 100.25 102.25 5.70 BB /Ba1 /-

Difc Sukuk (S) XS1120403313 12-Nov-24 700 200/1 100 USD Fixed 4.325 99.25 100.75 4.22 BBB- /- /-

Dip Sukuk Ltd (S) XS1035007530 20-Feb-19 300 200/1 100 USD Fixed 4.291 101.13 103.13 3.33 BB+ /- /-

Edcon Ltd XS0596919026 01-Mar-18 250 150/1 100 USD Fixed 9.500 70.25 73.25 24.44 CCC- /Caa1 /-

Edcon Ltd XS0888936118 01-Mar-18 300 100/1 100 EUR Fixed 9.500 69.88 72.88 24.70 CCC- /Caa1 /-

Edcon Ltd XS0596918135 01-Mar-18 317 100/1 100 EUR Fixed 9.500 70.00 73.00 24.62 CCC- /Caa1 /-

Edcon Holdings Ltd XS0982713173 30-Jun-22 3 100/1 137.8511045 EUR Pay-In-Kind 5.000 26.75 31.75 23.12 C /Ca /-

Emaar (S) XS0586840588 03-Aug-16 500 200/1 100 USD Fixed 8.500 104.75 106.75 1.08 BBB- /Ba1 /-

Emaar (S) XS0805885349 18-Jul-19 500 200/1 100 USD Fixed 6.400 111.00 113.00 2.83 BBB- /Ba1 /-

Emaar Mall Group Sukuk (S) XS1075401726 18-Jun-24 750 200/1 100 USD Fixed 4.564 102.50 104.00 4.02 BBB- /Baa2 /-

Real Estate / Tourism


September 1, 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 3.776 102.00 103.50 2.89 Not Rated

Franshion Brilliant Ltd XS1038803190 19-Mar-19 500 200/1 100 USD Fixed 5.750 103.13 105.13 4.18 BBB- /Baa3 /BBB-

Greenland Glb Invst XS1122384685 17-Oct-17 500 200/1 100 USD Fixed 3.500 97.38 99.38 3.81 BBB- /Baa3 /BBB-

Indiabulls - Century Ltd XS1118059200 12-Nov-19 175 200/1 100 USD Fixed 10.250 93.75 96.25 11.39 B+ /B1 /B+

Jafz Sukuk Ltd (S) XS0794821453 19-Jun-19 650 200/1 100 USD Fixed 7.000 112.00 114.00 3.06 - /Ba1 /BBB-

King Power Capital Ltd XS1125289626 03-Nov-19 300 200/1 100 USD Fixed 3.875 100.13 102.13 3.32 BBB /Baa3 /-

King Power Capital Ltd XS1125272143 03-Nov-24 700 200/1 100 USD Fixed 5.625 102.25 104.25 5.04 BBB /Baa3 /-

Lodha Developers Intl Lt XS1148395582 13-Mar-20 200 200/1 100 USD Fixed 12.000 96.63 98.63 12.40 - /Ba3 /B+

Maf Global Securities XS0800825845 05-Jul-19 500 200/1 100 USD Fixed 5.250 106.63 108.63 2.86 BBB /- /BBB

Maf (S) XS0742399198 07-Feb-17 400 200/1 100 USD Fixed 5.850 104.38 106.38 1.32 BBB /- /BBB

Maf Global Securities XS1064799841 07-May-24 500 200/1 100 USD Fixed 4.750 102.25 103.75 4.23 BBB /- /BBB

Maf Global Securities XS0939678792 Perpetual 500 200/1 100 USD Variable 7.125 106.00 108.00 4.38 BB+ /- /BB+

Marfrig Holding Europe B USN54468AC22 20-Sep-21 51 200/1 100 USD Fixed 11.250 102.00 104.50 9.87 B+ /B2 /B+

Nakheel Sukuk (S) XS0624017371 25-Aug-16 4390 500/10 100 AED Fixed 10.000 105.50 107.50 2.20 Not Rated

Qatari Diar XS0527351653 21-Jul-20 2500 100/1 100 USD Fixed 5.000 110.88 112.38 2.30 AA /Aa2 /-

Shimao Ppty Hldng Ltd XS0872804207 14-Jan-20 800 200/1 100 USD Fixed 6.625 98.38 100.38 6.49 BB /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1013209017 22-Jan-21 600 200/1 100 USD Fixed 8.125 101.00 103.00 7.31 BB /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1157365070 10-Feb-22 1100 200/1 100 USD Fixed 8.375 100.88 102.88 7.71 BB /Ba3 /BB+

Sino Ocean Lnd Trs Fin I XS1089807025 30-Jul-19 500 200/1 100 USD Fixed 4.625 100.00 102.00 4.07 BBB- /Baa3 /BBB-

Sino Ocean Lnd Trs Fin I XS1090864528 30-Jul-24 700 200/1 100 USD Fixed 6.000 99.38 101.38 5.80 BBB- /Baa3 /BBB-

Sunac China Holdings Ltd XS0909370651 05-Apr-18 500 200/1 100 USD Fixed 9.375 101.63 103.13 8.01 B /B2 /BB

Vrg Linhas Aereas Sa USP98079AB59 12-Feb-23 35 200/1 100 USD Fixed 10.750 85.38 87.38 13.49 B- /- /B-

Xinyuan Real Estate XS0998964935 06-Jun-19 200 200/1 100 USD Fixed 13.000 87.25 90.25 16.56 B- /- /B

Bahrain Telecom. XS0927183441 01-May-20 519 200/1 100 USD Fixed 4.250 98.88 100.38 4.16 BB+ /- /BBB-

Bharti Airtel Ltd USY0889VAA80 10-Jun-25 1000 200/1 100 USD Fixed 4.375 98.88 100.38 4.33 BBB- /Baa3 /BBB-

Banglalink Digital Comm USY0629LAA53 06-May-19 300 200/1 100 USD Fixed 8.625 99.38 101.38 8.18 BB- /B1 /-

Bharti Airtel Internatio XS1028954953 20-May-21 750 100/1 100 EUR Fixed 3.375 104.50 106.00 2.24 BBB- /Baa3 /BBB-

Bharti Airtel USN1384FAA32 11-Mar-23 1500 200/1 100 USD Fixed 5.125 104.50 106.00 4.19 BBB- /Baa3 /BBB-

Bharti Airtel Internatio USN1384FAB15 20-May-24 1000 200/1 100 USD Fixed 5.350 106.00 107.50 4.31 BBB- /Baa3 /BBB-

Etisalat XS1077881743 18-Jun-19 900 200/1 100 USD Fixed 2.375 99.88 100.88 2.13 AA- /Aa3 /A+

Etisalat XS1077883012 18-Jun-24 500 200/1 100 USD Fixed 3.500 101.88 102.88 3.12 AA- /Aa3 /A+

Etisalat XS1077882121 18-Jun-21 1200 100/1 100 EUR Fixed 1.750 101.63 102.63 1.28 AA- /Aa3 /A+

Telecommunications / IT


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Etisalat XS1077882394 18-Jun-26 1200 100/1 100 EUR Fixed 2.750 107.13 108.13 1.91 AA- /Aa3 /A+

Helios Towers Finance Nl XS1081230879 15-Jul-19 250 200/1 100 USD Fixed 8.375 80.38 82.88 14.28 B /- /B

Mtn Mauritius Invstments XS1128996425 11-Nov-24 750 200/1 100 USD Fixed 4.755 99.38 101.38 4.57 BBB /Baa2 /-

MTS International XS0921331509 30-May-23 500 200/1 100 USD Fixed 5.000 86.00 89.00 6.85 BB+ /Ba1 /BB+

Qatar Telecom XS0549116290 14-Oct-16 1000 200/1 100 USD Fixed 3.375 101.50 102.50 1.11 A- /A2 /A+

Qatar Telecom XS0432791571 10-Jun-19 600 100/1 100 USD Fixed 7.875 119.75 121.25 1.99 A- /A2 /A+

Qatar Telecom XS0549116530 16-Feb-21 1000 200/1 100 USD Fixed 4.750 108.25 110.25 2.71 A- /A2 /A+

Qatar Telecom XS0866438475 21-Feb-23 1000 200/1 100 USD Fixed 3.250 95.63 98.13 3.54 A- /A2 /A+

Qatar Telecom XS0551307100 19-Oct-25 750 200/1 100 USD Fixed 5.000 106.63 109.13 3.90 A- /A2 /A+

Qatar Telecom XS0880134258 31-Jan-28 500 200/1 100 USD Fixed 3.875 94.25 96.75 4.21 A- /A2 /A+

Qatar Telecom XS0881740384 31-Jan-43 500 200/1 100 USD Fixed 4.500 97.50 100.00 4.50 A- /A2 /A+

Millicom Intl Cellular XS1204091588 15-Mar-25 500 200/1 100 USD Fixed 6.000 93.13 95.13 6.70 - /Ba2 /BB+

Naspers USN5946FAA59 28-Jul-17 700 100/1 100 USD Fixed 6.375 104.88 106.88 2.64 - /Baa3 /BB+

Naspers USN5946FAB33 18-Jul-20 1000 200/1 100 USD Fixed 6.000 105.75 107.75 4.22 - /Baa3 /BB+

Naspers USN5946FAC16 21-Jul-25 1200 200/1 100 USD Fixed 5.500 99.38 101.38 5.31 BBB- /Baa3 /BB+

Oi Sa USP18445AG42 10-Feb-22 1500 200/1 100 USD Fixed 5.750 71.75 73.75 11.66 BB+ /Ba2 /BB

Ottawa Holdings Pte Ltd USY6589AAA44 16-May-18 365 200/1 100 USD Fixed 5.875 64.38 66.38 23.33 B+ /B2 /-

Reliance Communication XS1216623022 06-Nov-20 300 200/1 100 USD Fixed 6.500 100.75 102.75 5.88 - /Ba3 /BB-

Rolta LLC USU77587AA83 16-May-18 127 200/1 100 USD Fixed 10.750 67.50 72.50 25.39 BB- /- /BB-

Rolta Americas Llc USU77583AA79 24-Jul-19 373 200/1 100 USD Fixed 8.875 60.00 65.00 22.94 BB- /- /BB-

Tbg Global Pte Ltd XS1165340883 10-Feb-22 350 200/1 100 USD Fixed 5.250 94.13 96.13 5.98 BB /- /BB

Telecom Italia Spa XS0195160329 24-Jun-19 850 50/50 100 GBP Fixed 6.375 108.38 109.88 3.55 BB+ /Ba1 /BBB-

Telemar Norte Leste Sa USP9037HAL70 23-Oct-20 1787 100/1 100 USD Fixed 5.500 79.38 81.38 10.25 BB+ /Ba1 /BB

Turk Telekomunikasyon As XS1028952155 19-Jun-19 500 200/1 100 USD Fixed 3.750 97.63 99.63 3.85 BBB- /- /BBB-

Turk Telekomunikasyon As XS1028951264 19-Jun-24 500 200/1 100 USD Fixed 4.875 95.63 97.63 5.21 BBB- /- /BBB-

Vimpelcom Holdings XS0889401054 13-Feb-19 571 200/1 100 USD Fixed 5.200 95.13 97.13 6.14 BB /Ba3 /-

Vimpelcom Holdings Bv XS0889401724 13-Feb-23 983 200/1 100 USD Fixed 5.950 87.50 89.50 7.84 BB /Ba3 /-

Ajecorp Bv USN01766AA73 14-May-22 450 150/1 100 USD Fixed 6.500 67.00 69.00 13.72 BB- /- /BB

Afren Plc USG01283AD52 01-Feb-16 253 200/1 100 USD Defaulted 11.500 3.50 6.00 3,836.73 D /- /C

Afren Plc USG01283AF01 08-Apr-19 250 200/1 100 USD Defaulted 10.250 3.38 5.88 182.10 D /- /C

Afren Plc USG01283AG83 09-Dec-20 360 200/1 100 USD Defaulted 6.625 3.38 5.88 108.00 D /- /C

Anglogold Holdings Plc US03512TAD37 30-Jul-20 1250 1/1 100 USD Fixed 8.500 105.38 107.38 6.33 BB+ /Baa3 /-

Industrials / Energy


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Anglogold Holdings Plc US03512TAA97 15-Apr-20 700 1/1 100 USD Fixed 5.375 93.50 95.50 6.52 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAC53 01-Aug-22 750 1/1 100 USD Fixed 5.125 85.75 87.75 7.42 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAB70 15-Apr-40 300 1/1 100 USD Fixed 6.500 78.88 80.88 8.34 BB+ /Baa3 /-

Bharat Petroleum (BPCL) XS0848436365 25-Oct-22 500 200/1 100 USD Fixed 4.625 101.25 103.25 4.09 - /Baa3 /BBB-

Bharat Petroleum Corp XS1227064430 08-May-25 500 200/1 100 USD Fixed 4.000 95.75 97.75 4.29 - /Baa3 /BBB-

China Automation Group XS0615048260 20-Apr-16 72 200/1 100 USD Fixed 7.750 98.75 100.75 6.50 B+ /B1 /-

China Construct Bk Asia XS1100009874 20-Aug-24 750 200/1 100 USD Variable 4.250 99.38 101.38 3.87 - /Baa2 /A-

China Hongqiao Group XS1081333921 26-Jun-17 400 200/1 100 USD Fixed 7.625 95.13 97.13 9.37 BB- /- /BB

China Hongqiao Group XS1132125946 03-May-18 300 200/1 100 USD Fixed 6.875 91.88 93.88 9.52 BB- /- /BB

Chinalco Finance XS1150454822 11-Dec-19 500 200/1 100 USD Fixed 3.625 99.75 101.25 3.31 - /A1 /-

China Oil And Gas Group USG2115XAA66 25-Apr-18 350 200/1 100 USD Fixed 5.250 94.38 96.38 6.77 BB /Ba1 /-

China Oil And Gas Group XS1132375897 07-May-20 300 200/1 100 USD Fixed 5.000 90.13 92.13 7.00 BB /Ba1 /-

Cnpc General Capital Ltd XS1143051115 25-Nov-17 300 200/1 100 USD FRN 1.224 98.25 100.25 1.11 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143073788 25-Nov-17 500 200/1 100 USD Fixed 1.950 98.25 100.25 1.83 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143081963 25-Nov-19 700 200/1 100 USD Fixed 2.700 98.25 100.25 2.64 AA- /Aa3 /A+

Cimento Tupi Sa USP9159EAA03 11-May-18 185 2/1 100 USD Defaulted 9.750 37.88 40.88 51.73 D /- /C

Cimpor Financial Opertns USN20137AD23 17-Jul-24 750 200/1 100 USD Fixed 5.750 73.63 75.63 9.95 BB- /- /BB

Citic Ltd XS0758793342 21-Jan-18 1100 200/1 100 USD Fixed 6.875 107.38 109.38 2.78 BBB+ /A3 /-

Citic Ltd XS0912154381 10-Apr-20 500 200/1 100 USD Fixed 6.375 109.75 111.75 3.58 BBB+ /A3 /-

Cliffs Natural Resources US18683KAA97 15-Mar-20 327 2/1 100 USD Fixed 5.900 30.38 35.38 35.68 B /B3 /-

Cnpc General Capital Ltd USG22004AF54 14-May-17 750 200/1 100 USD FRN 1.209 98.25 100.25 1.08 A+ /A1 /A+

Cnpc General Capital Ltd USG22004AG38 14-May-19 750 200/1 100 USD Fixed 2.750 98.38 100.38 2.64 A+ /A1 /A+

Colbun Sa USP2867KAE66 10-Jul-24 500 200/1 100 USD Fixed 4.500 98.13 100.13 4.48 BBB- /- /BBB

Dana Gas (C) (S) XS0914266415 31-Oct-17 361 45/0.01 100 USD Fixed 7.000 81.50 88.50 13.21 Not Rated

Dana Gas (S) XS0914266845 31-Oct-17 400 45/0.01 100 USD Fixed 9.000 87.38 91.38 13.67 Not Rated

DEWA XS0551313926 21-Oct-16 500 100/1 100 USD Fixed 6.375 104.13 106.13 0.92 - /Baa2 /WD

DEWA XS0551313686 21-Oct-20 1500 100/1 100 USD Fixed 7.375 119.75 121.75 2.80 - /Baa2 /WD

DEWA (S) XS0897680558 05-Mar-18 1000 200/1 100 USD Fixed 3.000 101.00 103.00 1.77 BBB /- /-

Dolphin Energy Ltd USM28368AA21 15-Jun-19 657 100/1 100 USD Fixed 5.888 107.25 108.75 1.85 - /A1 /A+

Dolphin Energy Ltd USM28368AB04 15-Dec-21 1300 200/1 100 USD Fixed 5.500 112.63 114.13 3.01 - /A1 /A+

Doric Nimrod Air 2012-1A US258258AA01 30-Nov-22 365 200/1 100 USD Fixed 5.125 104.50 106.00 3.54 - /A3 /-

Dp World Ltd (C) XS1078764302 19-Jun-24 1000 200/200 100 USD Fixed 1.750 110.38 111.88 0.38 - /Baa3 /BBB-

DP World XS0308427581 02-Jul-37 1750 100/10 100 USD Fixed 6.850 108.13 109.63 6.05 NR /Baa3 /BBB-


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

DP World (S) XS0307408152 02-Jul-17 1500 100/10 100 USD Fixed 6.250 106.38 107.88 1.85 NR /Baa3 /BBB-

Dp World Ltd XS1234270921 18-May-20 500 200/1 100 USD Fixed 3.250 98.88 100.38 3.16 - /Baa3 /BBB-

Emirates Airlines XS0632833553 08-Jun-16 1000 200/1 100 USD Fixed 5.125 101.63 103.13 1.00 Not Rated

Emirates Airlines (S) XS0904232310 19-Mar-23 758 200/1 100 USD Fixed 3.875 101.38 102.88 3.05 Not Rated

Emirates Airlines XS0885065887 06-Feb-25 679 200/1 100 USD Fixed 4.500 100.50 102.00 4.03 Not Rated

Emirates Airlines (S) XS1203164782 31-Mar-25 898 200/1 100 USD Fixed 2.471 99.00 100.50 2.36 Not Rated

Eskom Holdings Soc Ltd XS0579851949 26-Jan-21 1750 200/1 100 USD Fixed 5.750 94.00 96.00 6.64 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS0958072240 06-Aug-23 1000 200/1 100 USD Fixed 6.750 95.88 97.88 7.10 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS1187065443 11-Feb-25 1250 200/1 100 USD Fixed 7.125 96.13 98.13 7.40 BB+ /Ba1 /-

Exim Sukuk Malaysia (S) XS0981802738 19-Feb-19 300 200/1 100 USD Fixed 2.874 99.00 101.00 2.57 - /A3 /A-

Fibria Overseas Finance US31572UAE64 12-May-24 600 2/1 100 USD Fixed 5.250 98.75 100.75 5.14 BBB- /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0276455937 22-Mar-17 500 50/1 100 EUR Fixed 5.136 101.50 103.00 3.11 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0805570354 19-Jul-22 1000 200/1 100 USD Fixed 4.950 88.75 91.75 6.45 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0974126186 25-Sep-20 500 100/1 100 GBP Fixed 5.338 88.50 93.50 6.88 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS1038646078 26-Feb-21 750 100/1 100 EUR Fixed 3.600 90.00 93.00 5.09 BB+ /Ba1 /BBB-

Gems Mea Sukuk Ltd (S) XS0995041539 Perpetual 200 150/1 100 USD Variable 12.000 113.50 115.50 6.57 Not Rated

General Electric XS0880289292 30-Jan-43 700 200/1 100 USD Fixed 4.625 97.88 99.88 4.63 AA+ /A1 /-

Global Liman Isletmeleri XS1132825099 14-Nov-21 250 200/1 100 USD Fixed 8.125 87.00 89.50 10.46 - /B1 /BB-

Gol Finance US38045UAC45 03-Apr-17 84 2/1 100 USD Fixed 7.500 96.25 98.75 8.35 - /B3 /B-

Gold Fields Orogen Hold XS0547082973 07-Oct-20 1000 200/1 100 USD Fixed 4.875 84.25 86.75 8.10 BB+ /Ba1 /-

Greenko Dutch Bv USN3700LAA37 01-Aug-19 550 200/1 100 USD Fixed 8.000 100.50 103.00 7.10 B /- /B

Indian Oil Corp Ltd XS0654493823 02-Aug-21 500 200/1 100 USD Fixed 5.625 107.50 110.50 3.64 - /Baa3 /BBB-

Indian Oil Corp Ltd XS0955024236 01-Aug-23 500 200/1 100 USD Fixed 5.750 108.25 110.25 4.21 - /Baa3 /BBB-

Indian Railway Finance C XS0602696618 30-Mar-16 200 200/1 100 USD Fixed 4.406 99.75 101.75 1.34 BBB- /Baa3 /BBB-

Indian Railways Finance Co. XS0836520717 10-Oct-17 300 200/1 100 USD Fixed 3.417 99.63 102.63 2.13 BBB- /Baa3 /BBB-

Jsw Steel Ltd XS1133588233 12-Nov-19 500 200/1 100 USD Fixed 4.750 86.50 88.50 8.03 - /Ba1 /BB+

Klabin Finance Sa USL5828LAA72 16-Jul-24 500 200/1 100 USD Fixed 5.250 94.13 96.13 5.81 BBB- /- /BBB-

Kuwait Energy Plc XS1086694111 04-Aug-19 250 200/1 100 USD Fixed 9.500 90.50 92.50 11.95 B- /- /B-

Maoye International Hldg USG5804GAE47 19-May-17 300 200/1 100 USD Fixed 7.750 92.88 95.88 10.43 B+ /B1 /-

Masisa USP6460HAA34 05-May-19 300 200/1 100 USD Fixed 9.500 97.00 100.00 9.49 BB- /- /BB

Millenium Offshore Services USY53653AA28 15-Feb-18 225 200/1 100 USD Fixed 9.500 102.00 105.00 5.84 B+ /B2 /-

Minsur Sa USP6811TAA36 07-Feb-24 450 150/1 100 USD Fixed 6.250 102.63 104.63 5.55 BBB- /Baa3 /BBB-

Nakilat Inc USY62014AB48 31-Dec-33 267 100/1 100 USD Fixed 6.267 112.88 115.88 4.36 A+ /A1 /A


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Nitrogenmuvek Vegyipari XS0928972909 21-May-20 200 200/1 100 USD Fixed 7.875 95.75 97.75 8.46 B+ /- /BB-

Noble Group Ltd XS0906440333 20-Mar-18 400 200/1 100 USD Fixed 3.625 81.75 83.75 11.12 BBB- /Baa3 /BBB-

Noble Group Ltd USG6542TAE13 29-Jan-20 1209 100/1 100 USD Fixed 6.750 82.38 84.38 11.35 BBB- /Baa3 /BBB-

Norilsk Nickel OJSC XS0922134712 30-Apr-18 750 200/1 100 USD Fixed 4.375 97.88 99.88 4.42 BBB- /Ba1 /BBB-

Norilsk Nickel OJSC XS0982861287 28-Oct-20 1000 200/1 100 USD Fixed 5.550 96.88 99.38 5.69 BBB- /Ba1 /BBB-

Novolipetsk Steel OJSC XS0808632847 19-Feb-18 708 200/1 100 USD Fixed 4.450 95.25 97.25 5.66 BB+ /Ba1 /BBB-

Novolipetsk Steel OJSC XS0783934325 26-Sep-19 471 200/1 100 USD Fixed 4.950 93.88 96.38 5.97 BB+ /Ba1 /BBB-

NTPC Ltd XS0245398226 02-Mar-16 300 100/1 100 USD Fixed 5.875 100.25 102.25 1.32 BBB- /- /BBB-

NTPC Ltd XS0648477593 14-Jul-21 500 200/1 100 USD Fixed 5.625 108.75 110.75 3.58 BBB- /- /BBB-

NTPC Ltd XS0835676353 03-Oct-22 500 200/1 100 USD Fixed 4.750 103.13 105.13 3.91 BBB- /- /BBB-

NTPC Ltd XS1143390679 26-Nov-24 500 200/1 100 USD Fixed 4.375 99.63 101.63 4.16 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043011 25-Apr-24 1250 200/1 100 USD Fixed 5.625 102.25 103.75 5.08 BBB- /- /BBB-

Office Cherifien Des Pho XS1221677120 22-Oct-25 1000 200/1 100 USD Fixed 4.500 93.75 95.25 5.11 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043367 25-Apr-44 600 200/1 100 USD Fixed 6.875 102.63 104.13 6.55 BBB- /- /BBB-

Oil India Ltd XS1057074871 17-Apr-19 500 200/1 100 USD Fixed 3.875 101.13 103.13 2.96 - /Baa2 /BBB-

Oil India Ltd XS1056232322 17-Apr-24 500 200/1 100 USD Fixed 5.375 106.50 108.50 4.19 - /Baa2 /BBB-

Oman Electricity XS1117297355 07-May-25 1000 200/1 100 USD Fixed 3.958 93.38 94.88 4.62 BBB+ /A3 /-

Ongc Videsh Ltd XS0927643030 07-May-18 300 200/1 100 USD Fixed 2.500 98.50 100.00 2.50 BBB- /Baa2 /-

Ongc Videsh Ltd XS1084957155 15-Jul-19 750 200/1 100 USD Fixed 3.250 99.50 101.00 2.97 BBB- /Baa2 /-

Ongc Videsh Ltd XS0922882344 07-May-23 500 200/1 100 USD Fixed 3.750 96.50 98.00 4.06 BBB- /Baa2 /-

Ongc Videsh Ltd XS1079848369 15-Jul-24 750 200/1 100 USD Fixed 4.625 101.75 103.25 4.18 BBB- /Baa2 /-

Petrobras Global Finance US71647NAJ81 17-Mar-17 1400 2/1 100 USD FRN 2.643 94.38 96.38 5.12 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAL38 17-Mar-20 500 2/1 100 USD FRN 3.163 85.25 87.25 6.43 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAL54 06-Oct-16 899 2/1 100 USD Fixed 6.125 97.63 101.63 4.57 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAG43 17-Mar-17 1600 2/1 100 USD Fixed 3.250 94.38 96.38 5.74 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAB55 15-Jan-19 2000 2/1 100 USD Fixed 3.000 86.25 88.25 6.98 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAH26 17-Mar-20 1500 2/1 100 USD Fixed 4.875 86.63 88.63 7.91 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAR25 27-Jan-21 5250 2/1 100 USD Fixed 5.375 86.13 89.13 7.88 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAF69 20-May-23 3500 2/1 100 USD Fixed 4.375 77.75 79.75 7.93 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAM11 17-Mar-24 2500 2/1 100 USD Fixed 6.250 86.63 88.63 8.12 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAK54 17-Mar-44 1000 2/1 100 USD Fixed 7.250 80.88 82.88 8.91 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAN93 5-Jun-2115 2500 2/1 100 USD Fixed 6.850 75.50 77.50 8.84 BBB- /Ba2 /BBB-

Petroleos De Venezuela S USP7807HAK16 02-Nov-17 6150 0.1/0.1 100 USD Fixed 8.500 67.63 70.13 49.07 CCC /- /CCC


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

PLN Indonesia US71568QAA58 22-Nov-21 1000 200/1 100 USD Fixed 5.500 100.75 103.25 4.89 BB /Baa3 /BBB-

Power Grid Corp Of India XS0875759184 17-Jan-23 500 200/1 100 USD Fixed 3.875 96.75 99.25 3.99 BBB- /- /BBB-

Pratama Agung XS1179926750 24-Feb-20 300 200/1 100 USD Fixed 6.250 94.50 96.50 7.18 BB- /- /BB-

Puma Intl Financing XS1022807090 01-Feb-21 1000 200/1 100 USD Fixed 6.750 100.25 102.25 6.01 - /Ba3 /BB

Ras Laffan Lng 3 USM8222MAB83 30-Sep-16 226 250/1 100 USD Fixed 5.832 101.38 103.38 0.26 A /Aa3 /A+

Ras Laffan Lng Ii USM8221WAA91 30-Sep-20 802 250/1 100 USD Fixed 5.298 106.00 108.00 2.15 A /Aa3 /A+

Reliance Holding USU75888AA26 19-Oct-20 1000 250/1 100 USD Fixed 4.500 104.75 106.75 3.07 BBB+ /Baa2 /-

Reliance Holding USU75888AC81 14-Feb-22 1500 250/1 100 USD Fixed 5.400 107.38 109.38 3.75 BBB+ /Baa2 /-

Reliance Industries Ltd USY72596BU56 28-Jan-25 1000 250/1 100 USD Fixed 4.125 97.75 99.25 4.22 BBB+ /Baa2 /-

Reliance Holding USU75888AB09 19-Oct-40 500 250/1 100 USD Fixed 6.250 110.25 112.25 5.36 BBB+ /Baa2 /-

Rural Electrification XS0579361428 25-Jan-16 500 100/1 100 USD Fixed 4.250 99.75 101.25 1.06 - /Baa3 /BBB-

Sabic Capital I Bv XS0554434240 02-Nov-15 1000 200/1 100 USD Fixed 3.000 99.25 100.75 -1.55 A+ /A1 /A+

Sabic Capital II Bv XS0971431613 03-Oct-18 1000 200/1 100 USD Fixed 2.625 100.00 101.50 2.12 A+ /A1 /A+

Sabic Capital I Bv XS0995811741 20-Nov-20 750 100/1 100 EUR Fixed 2.750 105.63 107.13 1.33 A+ /A1 /A+

Samarco Mineracao Sa USP84050AC02 26-Sep-24 500 200/1 100 USD Fixed 5.375 89.63 91.13 6.70 BBB- /- /BBB

Sasol Financing Int US803865AA25 14-Nov-22 1000 200/1 100 USD Fixed 4.500 98.50 100.00 4.50 BBB /Baa1 /-

Saudi Electricity Co (S) XS0764883806 03-Apr-17 500 200/1 100 USD Fixed 2.665 101.50 102.50 1.07 AA- /A1 /AA-



Saudi Elec Global Sukuk (S) XS1054250235 08-Apr-24 1500 200/1 100 USD Fixed 4.000 103.88 104.88 3.34 AA- /A1 /AA-


Saudi Elec Global Sukuk (S) XS1054250318 08-Apr-44 1000 200/1 100 USD Fixed 5.500 101.63 102.63 5.32 AA- /A1 /AA-

Schahin Ii Finan Co Spv USG785ARAA65 25-Sep-22 652 200/10 100 USD Fixed 5.875 30.00 38.00 37.26 CC /Ca /CC

Shanghai Elc Grp Glb Inv XS1092649620 14-Aug-19 500 200/1 100 USD Fixed 3.000 99.00 101.00 2.73 A /A2 /A

Srilankan Airlines Ltd XS1080090126 27-Jun-19 175 200/1 100 USD Fixed 5.300 92.63 97.63 6.00 B+ /- /-

Syndicate Bank/London XS1073127901 04-Dec-19 400 200/1 100 USD Fixed 3.875 100.50 102.50 3.24 BBB- /Baa3 /-

TAQA XS0272948554 27-Oct-16 1000 100/1 100 USD Fixed 5.875 104.13 105.63 0.94 A- /A3 /-

TAQA XS0717839525 13-Mar-17 750 200/1 100 USD Fixed 4.125 102.50 104.00 1.47 A- /A3 /-


TAQA XS0863523972 12-Jan-18 750 200/1 100 USD Fixed 2.500 99.50 101.00 2.06 A- /A3 /-

TAQA XS0380056183 01-Aug-18 500 100/1 100 USD Fixed 7.250 112.88 114.38 2.13 A- /A3 /-

TAQA XS0452300402 16-Sep-19 500 100/1 100 USD Fixed 6.250 112.88 114.38 2.48 A- /A3 /-

TAQA XS0717839871 13-Dec-21 750 200/1 100 USD Fixed 5.875 113.00 114.50 3.30 A- /A3 /-


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

TAQA XS0863524277 12-Jan-23 1250 200/1 100 USD Fixed 3.625 97.88 99.38 3.72 A- /A3 /-

TAQA XS1017435352 06-May-24 750 200/1 100 USD Fixed 3.875 97.88 99.38 3.96 A- /A3 /-


Tata Motors Ltd XS1121907676 30-Apr-20 500 200/1 100 USD Fixed 4.625 98.75 100.75 4.44 BB /Ba2 /-

Tata Steel XS1092182606 31-Jan-20 500 200/1 100 USD Fixed 4.850 99.00 100.50 4.72 BB /- /BB+

Tata Steel XS1090889947 31-Jul-24 1000 200/1 100 USD Fixed 5.950 92.88 94.38 6.80 BB /- /BB+

Topaz Marine Sa USL90608AA56 01-Nov-18 350 200/1 100 USD Fixed 8.625 92.50 95.50 10.32 B- /B3 /-

Transnet Soc Ltd XS0590902325 10-Feb-16 750 200/1 100 USD Fixed 4.500 100.25 101.75 0.48 BBB- /Baa2 /-

Transnet Soc Ltd XS0809571739 26-Jul-22 1000 200/1 100 USD Fixed 4.000 93.38 94.88 4.88 BBB- /Baa2 /BBB

Tullow Oil Plc USG91235AA22 01-Nov-20 650 200/1 100 USD Fixed 6.000 72.75 74.75 12.84 B+ /B3 /-

Transocean Inc US893830AK59 15-Apr-18 246 1/1 100 USD Fixed 7.375 97.38 99.38 7.64 BB+ /Ba1 /BBB-

Tullow Oil Plc USG91235AB05 15-Apr-22 650 200/1 100 USD Fixed 6.250 71.75 73.75 12.13 B+ /B3 /-

Tupras-Turkiye Petrol Ra XS0849020556 02-May-18 700 200/1 100 USD Fixed 4.125 99.50 101.00 3.73 - /Ba1 /BBB-

Vale Overseas Limited US91911TAM53 11-Jan-22 2250 2/1 100 USD Fixed 4.375 91.88 93.38 5.63 BBB /Baa2 /BBB+

Vedanta Resources Plc USG9328DAF71 07-Jun-16 750 200/1 100 USD Fixed 6.750 96.50 98.50 8.81 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAH38 31-Jan-19 1200 200/1 100 USD Fixed 6.000 84.50 86.50 10.83 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAG54 07-Jun-21 900 200/1 100 USD Fixed 8.250 84.75 86.75 11.45 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAJ93 31-May-23 500 200/1 100 USD Fixed 7.125 76.50 78.50 11.37 BB- /Ba3 /WD

Videocon Industries Ltd (C) XS0566786546 16-Dec-15 194 100/100 100 USD Fixed 6.750 84.25 89.25 48.86 Not Rated

Waha Aerospace XS0528721623 28-Jul-20 750 100/1 100 USD Fixed 3.925 103.75 105.25 1.87 AA /Aa2 /AA

Yancoal Intl Res Dev USY97279AA45 16-May-17 450 200/1 100 USD Fixed 4.461 97.00 99.50 4.77 BB /Ba2 /BB-

Yancoal Intl Res Dev USY97279AB28 16-May-22 550 200/1 100 USD Fixed 5.730 86.25 88.75 7.92 BB /Ba2 /BB-

Yingde Gases Invstmt Ltd USG9844KAA72 22-Apr-18 425 200/1 100 USD Fixed 8.125 79.38 83.38 16.10 BB- /B2 /BB

Yingde Gases Invstmt Ltd USG9844KAB55 28-Feb-20 250 200/1 100 USD Fixed 7.250 68.38 73.38 15.75 BB- /B2 /BB

Zoomlion Hk Spv Co Ltd USY9896RAB79 20-Dec-22 600 200/1 100 USD Fixed 6.125 82.25 84.25 9.13 B+ /- /BB-

Arcelik As XS0910932788 03-Apr-23 500 200/1 100 USD Fixed 5.000 91.75 93.75 6.04 BB+ /- /BB+

Arcelik As XS1109959467 16-Sep-21 350 100/1 100 EUR Fixed 3.875 97.00 99.00 4.06 BB+ /- /BB+

Car Inc XS1163232900 04-Feb-20 500 200/1 100 USD Fixed 6.125 98.00 100.00 6.12 BB+ /Ba1 /BB+

Cosco Finance 2011 XS0858461758 03-Dec-22 1000 200/1 100 USD Fixed 4.000 98.13 99.13 4.14 - /A1 /-

Golden Eagle Retail Group USG3958RAB53 21-May-23 400 200/1 100 USD Fixed 4.625 76.75 78.75 8.42 BB /Ba1 /BB+

Hikma Pharmaceuticals Pl XS1213834978 10-Apr-20 500 200/1 100 USD Fixed 4.250 98.75 100.75 4.07 BB+ /Ba1 /-

Miscellaneous

Various Developed Market Issues


September 1, 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 6.250 110.38 112.38 4.10 BBB- /Baa3 /A-

Abn Amro Bank Nv XS0827817650 13-Sep-22 1500 200/1 100 USD Variable 6.250 104.63 106.63 2.86 BBB- /NR /A-

Bank Of Scotland Plc XS0066120915 15-May-21 500 10/10 100 GBP Fixed 9.375 126.88 127.88 3.83 BBB /Baa2 /A-

Barclays XS0322792010 Perpetual 117 100/1 100 USD Variable 7.434 107.38 109.88 2.93 BB /Ba1 /BBB-

Barclays XS0397801357 Perpetual 3000 50/1 100 GBP Variable 14.000 128.88 131.88 4.61 BB /Ba1 /BBB-

Barclays Bank Plc US06740L8C27 21-Nov-22 3000 200/1 100 USD Fixed 7.625 112.75 114.75 5.15 BB+ /NR /BBB-

Barclays Bank Plc US06739FHK03 10-Apr-23 1000 200/1 100 USD Variable 7.750 106.88 108.88 4.11 BB+ /NR /BBB-

Citigroup Inc XS0180008905 18-Nov-15 250 1/1 100 GBP Fixed 5.500 99.13 101.13 0.07 A- /Baa1 /A

Commerzbank Ag XS0101360161 30-Aug-19 150 10/10 100 GBP Fixed 6.625 108.63 110.63 3.71 BB+ /Ba2 /BBB-

Commerzbank Ag DE000CB83CF0 16-Mar-21 1250 100/100 100 EUR Fixed 7.750 120.13 122.13 3.30 BB+ /Ba2 /BBB-

Credit Agricole FR0010533554 Perpetual 500 2/2 100 USD Fixed 7.375 100.00 102.00 -7.90 BB+ /Ba2 /BBB-

Credit Agricole Sa USF22797RT78 Perpetual 1750 200/1 100 USD Variable 7.875 101.50 103.00 7.39 BB /NR /BB+

Credit Europe Bank NV XS0878492791 24-Jan-23 400 200/1 100 USD Variable 8.000 101.00 104.00 6.17 - /B2 /B+

Deutsche Bank Ag US251525AP63 01-Apr-25 1500 200/1 100 USD Fixed 4.500 94.63 97.63 4.81 BBB- /Ba1 /A-

Goldman Sachs Group Inc XS0212249014 15-Dec-15 600 1/1 100 GBP Fixed 5.250 100.38 101.38 0.34 A- /A3 /A

Jaguar Land Rover Automo USG5002FAE63 15-Mar-20 500 200/1 100 USD Fixed 3.500 96.00 97.50 4.11 BB /Ba2 /-

Jaguar Land Rover Automo USG50027AB03 15-May-21 84 150/1 100 USD Fixed 8.125 109.25 110.75 -1.33 BB /Ba2 /BB-

KBC Bank NV BE6248510610 25-Jan-23 1000 200/200 100 USD Variable 8.000 108.88 110.38 3.44 BBB- /NR /-

Lloyds Bank Plc XS0517466198 07-Sep-15 75 1/0.1 100 GBP Fixed 5.375 98.38 100.38 -28.72 A /A1 /A+

Lloyds Bank Plc US53947QAA58 14-Sep-20 2000 100/1 100 USD Fixed 6.500 114.25 116.25 2.99 BBB /Baa2 /A-

Lloyds Bank Plc XS0717735582 16-Dec-21 466 1/1 100 GBP Variable 10.750 110.75 111.75 1.44 BBB /Baa2 /A-

Macquarie Bank Ltd US55608YAA38 07-Apr-21 1000 2/1 100 USD Fixed 6.625 111.00 114.00 3.82 BBB /Baa2 /A-

Macquarie Bank Ltd XS0543111768 21-Sep-20 600 50/50 100 EUR Fixed 6.000 115.63 118.63 2.08 BBB /Baa2 /A-

Mizuho Group XS0803109270 18-Jul-22 1500 200/1 100 USD Fixed 4.200 101.50 104.50 3.46 A /A2 /-

Morgan Stanley XS0236338504 30-Nov-15 325 50/1 100 GBP Fixed 5.125 99.25 101.25 -0.06 A- /A3 /A

Morgan Stanley XS0531922465 10-Aug-20 1500 50/50 100 EUR Fixed 5.375 119.50 120.50 1.09 A- /A3 /A

Morgan Stanley US61747WAF68 25-Jan-21 2592 100/1 100 USD Fixed 5.750 112.25 114.25 2.88 A- /A3 /A

Natixis USF6483LHM57 Perpetual 186 100/1 100 USD Variable 10.000 114.38 117.38 3.13 BB+ /Ba2 /BBB-

Natl Westminster Bank XS0090254722 07-Sep-21 300 10/10 100 GBP Fixed 6.500 110.63 112.63 4.09 BB+ /Ba2 /BBB

Prudential Plc XS0873630742 Perpetual 700 200/1 100 USD Fixed 5.250 98.75 100.75 4.94 A- /Baa1 /BBB+

Rabobank Nederland XS0826634874 14-Sep-22 1000 100/1 100 EUR Fixed 4.125 110.38 112.38 2.20 BBB+ /A3 /A

Rabobank Nederland XS0583302996 Perpetual 2000 100/1 100 USD Variable 8.375 102.88 104.88 2.82 - /- /BBB-

Rabobank Nederland XS0703303262 Perpetual 2000 100/1 100 USD Variable 8.400 106.50 108.50 3.54 - /- /BBB-


September 1, 2015


(Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Royal Bk Of Scotland Plc XS0356705219 09-Apr-18 2000 50/1 100 EUR Fixed 6.934 111.00 113.00 1.77 BB+ /Ba2 /BBB

Royal Bk Of Scotland Plc XS0753308559 16-Mar-22 2132 1/1 100 USD Variable 9.500 108.50 110.50 2.49 BB+ /NR /BBB

Royal Bk Scotlnd Grp Plc US780099CE50 15-Dec-22 2250 2/1 100 USD Fixed 6.125 106.63 108.63 4.71 BB /Ba2 /BBB

Societe Generale XS0503530874 17-Dec-15 350 50/50 100 GBP Fixed 3.875 99.13 101.13 -0.05 A /A2 /A

Societe Generale USF8586CH211 14-Apr-25 1500 200/1 100 USD Fixed 4.250 94.63 96.63 4.69 BBB /Baa3 /A-

Standard Chartered Plc XS0874014722 11-Jan-23 2000 200/1 100 USD Fixed 3.950 95.75 97.75 4.31 BBB /A2 /A+

UBS AG CH0214139930 22-May-23 1500 200/1 100 USD Variable 4.750 100.63 102.63 3.71 BBB /NR /BBB+

Unicredit Spa XS0849517650 31-Oct-22 1500 100/1 100 EUR Fixed 6.950 115.75 117.75 4.04 BB /Ba1 /BBB

Unicredit Spa XS0925177130 02-May-23 750 200/1 100 USD Variable 6.375 103.75 105.75 4.07 BB /Ba1 /BBB

Egypt 3M T Bills N/A 20-Oct-15 2500 500/25 100 EGP Zero Cpn N/A 96.98 97.45 8.39 B/B2/B+

Egypt 6M T Bills N/A 19-Jan-16 3500 500/25 100 EGP Zero Cpn N/A 94.03 94.92 8.59 B/B2/B+

Egypt 9M T Bills N/A 12-Apr-16 3500 500/25 100 EGP Zero Cpn N/A 91.45 92.68 8.67 B/B2/B+

Egypt 1Y T Bills N/A 12-Jul-16 4000 500/25 100 EGP Zero Cpn N/A 88.80 90.37 8.71 B/B2/B+

French Discount T-Bill FR0121811709 11-Dec-14 0 100/1 100 EUR Zero Cpn N/A 99.50 100.00 0 - /- /NR

French Discount T-Bill FR0122005723 02-Apr-15 0 100/1 100 EUR Zero Cpn N/A 99.50 100.00 -- - /- /NR

German Treasury Bill DE0001119261 10-Dec-14 0 100/1 100 EUR Zero Cpn N/A 99.50 100.00 0 - /- /NR

German Treasury Bill DE0001119212 25-Mar-15 0 100/1 100 EUR Zero Cpn N/A 99.51 100.01 -- - /- /NR

Australia T-Bill AU2CLT051245 05-Dec-14 0 100/5 100 AUD Zero Cpn N/A 99.13 99.63 -- - /- /NR

(C) Denotes a Convertible bond

(S) Denotes a Sukuk

* Offer Yield adjusted for tax

Egypt T Bills


September 2, 2015

Contact:

Mashreq Fixed Income Trading

Mohammad Ahsan / Khizer Usmani / Zeeshan Ali / 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.

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