league tables - · pdf fileleague tables project finance international 24 january 2007 issue...

http://www.pfie.com 24 January 2007 | pfi | 51

LEAGUETABLES

PROJECTFINANCEINTERNATIONAL24 JANUARY 2007ISSUE 353

Introduction 52Bank MLAs 56Bond lead managers 73Monolines 74Advisers 75

Contents

52 | pfi | 24 January 2007 http://www.pfie.com

PF debt up toUS$210bnT

he Thomson Financial SecuritiesData (SDC)/Project Finance Inter-national annual league tablesshow debt raised in the sectorwas US$210bn last year, up fromUS$166bn in 2005, US$114.5bnin 2004 and US$101bn in 2003.Part of this rise can be put downto the fall in the dollar, increasingthe dollar amount for debt raised

outside the US. But this obviously does not account solelyfor a doubling in the size of the market over three years.

Bank lending once again led the rise – up from US$140.3in 2005 to US$180.6bn in 2006. This jump was due to adoubling in size of both the Americas and the Asia-Pacif-ic project finance loan markets. The Americas increasedfrom US$20.9bn in 2005 to US$44bn in 2006. Asia-Pacif-ic increased from US$24.9bn in 2005 to US$39.2bn in2006.

The EMEA loan market, a stellar performer in growthterms in 2005, having nearly doubled to US$94.3bn, was still very healthy at US$97.4bn in 2006 but was a vol-ume, not a growth, story. Similarly, the Middle East loan

PF market toppedUS$30bn in 2006 –just above the 2005figure.

In the Americas,the top three sectorsall doubled in size –power, oil and gas and transporta-tion. Loans in the USmore than doubledfrom US$13bn toUS$28.4bn. CreditSuisse kept its top

slot in the table but was joined in the Top 10 by fellowinvestment banks Goldman Sachs in second place andLehman Brothers in sixth. In Asia-Pacific, State Bank ofIndia remained top and India jumped to second in thecountry table. Australia had a standard good projectfinance year at US$10.6bn, top of the Asia-Pacific coun-tries. Interestingly, transportation was the top sector inthis region.

In EMEA, transportation was top too, helped by theFrench road deals. France was top of the country tablesfor the first time, followed closely by the new Middle Eaststar, Saudi Arabia, and then the UK. The previous year'sstar, Spain, slipped slightly and Qatar fell back into thepack.

While the loan market continues to grow in the proj-ect finance sphere, the bond market continues to stag-nate at around US$30bn pa. Last year's number wasUS$28.7bn, up from US$26bn in 2005, US$28.6bn in2004 and US$32.2bn in 2003.

Clearly, the bond market is still a very useful source of liquidity but the loan market has benefited most fromthe current liquid markets. If credit tightens, however, thepercentage of bonds to loans should grow again. Thebond numbers werehelped in 2006 bysome mega UK pri-vate finance initiative(PFI) deals that finallyachieved financialclose. The UK waswell ahead of the nextcountry in this table.

Activity in themonoline market,however, jumpedmore than fourfoldafter a very poor 2005

2006 League Tables

The 12thThomsonFinance proj-ect financeleague tables,the only reli-able and con-sistent guideto the globalprojectfinance mar-ket, show newdebt issued inthe sector ris-ing aboveUS$200bn forthe first timein 2006 toUS$210bn.The rise wasdue to growthin theAmericas andAsia-Pacificloan markets.

1 - Royal Bankof Scotland (1)

2 - Calyon (4)

3 - Mizuho (5)

4 - SG (3)

5 - ABN AMRO (18)

6 - BNPParibas (2)

7 - BBVA (19)

8 - WestLB (8)

9 - State Bankof India (21)

10 - Mitsubishi UFJ (7)

GLOBALTOP 10 FOR LOANS(2005 POSITION IN BRACKETS)

1 - Credit Suisse (4)

2 - Citigroup (1)

3 - Deutsche (11)

4 - Lehman Brothers (2)

5 - HSBC(27)

6 - Goldman Sachs (3)

7 - Royal Bankof Scotland (–)

8 - Barclays Capital (23)

9 - Morgan Stanley (21)

10 - CBA (–)

GLOBALTOP 10 FOR BONDS(2005 POSITION IN BRACKETS)

24 January 2007 | pfi | 53http://www.pfie.com

While the loan marketcontinues to grow,the bond market stagnates

– up to US$18.7bn in 2006 from a meagre US$4.3bn in2005. The PFI and infrastructure markets around the world helped with deals such as Barts, Allenby, Golden Ears, Ostregion and Melbourne Convention Centre.

Royal Bank of Scotland kept its top slot in the loanstable, courtesy again of its performance at home in theEMEA market where its volumes were twice the size ofthe next bank, SG. Calyon and Mizuho had good years allaround the globe and moved up to second and third, fromfourth and fifth respectively in 2005. ABN AMRO jumpedinto the Top 10 due to its work on Yansab in Saudi Ara-bia, while BBVA replaced Caja Madrid as the Spanish bankin the Top 10 and State Bank of India came in at numbernine.

Credit Suisse headed the bond tables, with Citi drop-ping from first to second and Deutsche climbing to thirdon the back of a strong PFI mega deal performance inEurope and Australia. Ambac was the leading monolineahead of MBIA, FSA and XL.

Power, transportation and oil and gas stayed at the topof the loans sector again in 2006, but there was a strongshowing from petrochemicals. This year could be a turnyear with the oil price now finally dipping and the petro-chemical build-out perhaps slowing. The power andinfrastructure sectors could be even more to the forefrontthis year.

On the bond side, oil and gas was again top, followedby PFI style deals and infrastructure. Again, oil and gascould slip in 2007. The US leapt to the top of the loan tablecountry numbers helped by a mix of deals across a mixof sectors. France, Saudi Arabia, the UK, Spain and Aus-tralia all topped US$10bn.

On the advisory side, PFI has been publishing figureson mandates won and mandates reaching financial closefor some time. But for the first time, a financial close tablehas been published. This shows SMBC ahead on theback of some strong Middle East and Asia-Pacific mandatesfollowed by Ernst & Young, Aramco's internal adviser onRabigh.

Last year's leadadviser, HSBC, keptaround the US$10bnmark but droppedfrom first to fourthbehind PwC. Ernst &Young was againahead on the man-dates won table, aheadof PwC and State Bankof India. The numberof advisory mandateswon globally in 2006rose slightly to 692from 677 in 2005.

1 - SMBC

2 - Ernst & Young

3 - PwC

4 - HSBC

5 - SG

6 - Citigroup

7 - KPMG

8 - Royal Bankof Canada

9 - Investec

10 - BNPParibas

GLOBALTOP 10 FOR ADVISORIES(2005 POSITION IN BRACKETS)

The league tables arecompiled from returnssent in fromcommercial banks andfinancial advisers. Onlybusiness conducted inthe project financesector is included in thetables. The submissionsare checked by ProjectFinance International(PFI) and ThomsonFinancial Securities Data(TFSD) staff in London,New York andSingapore/Manila. Thetables are presented in aregional form and thenglobal tables arecalculated from theregional figures.

On the loans side,only lead-arrangingmandates are credited inthe tables. The accredita-tion is worked out onthe following basis. Ifone bank lead-arrangesa US$500m projectfinance loan, it receivesa US$500m credit, if twoarrange a US$500mloan, they receive aUS$250m credit, if four,US$125m each, and soon. The credits areadded up and the leaguetables are produced.

On some deals, anindividual bank’ssubmitted figure mightbe lower in thepublished version of theleague table or it mightincrease. To ensure thetables are marketaccurate, some banksmight be added to thetable even if they had notclaimed for a mandatedlead-arranging role,

while others might notbe credited even if theyhave claimed.

This year theevaluation of leadarranging roles hasbeen much stricter toinclude only mandatedlead arrangers. This isbecause many deals arenow syndicated beforethe final underwriting isclosed. In the Americas,the mandated leadarranger category issimilar to the TFSDbookrunner category.

Overall the tables areonly concerned withmeasuring theperformance of thosewho arrange deals, notnecessarily their final un-derwriting commitmentor final take.

The deals countingtowards a bank’s totalare detailed in theregional sections withthe relevant amountsper deal. From thesedetails the country andsector league tables aredrawn up. The process isvery similar on the bondleague table. The tablesmeasure the activitiesonly of lead managers.

On the advisory side,the table is split intothree sections: privatesector mandates,government orgovernment-ownedsponsor advisorymandates and advice tobidders in a competition.Only financial advisorymandates are included.The table measuresmandates won last year

in these sectors andranks advisersaccordingly in the totalcolumn. In addition,there is a figurecalculated for allmandates being workedon by a firm in theoverall column.

The advisorysubmissions arechecked by thereporters for accuracyto ensure they aremandates won last yearand not claimed for inprevious years. Thistable is limited toadvisory mandatesabove US$20m.

In addition there isthe table of advisorymandates reachingfinancial close last year.For the first time thisyear the table is rankedregionally and globallyby the total amount offunds raised by beachfinancial adviser.

The 2006 leaguetables will now go up onthe Thomson DealsProject Finance web site.To ease the league tableprocess in 2007, it isworth keeping PFI andTFSD staff up to datewith genuine projectfinance deals during theyear. Contact PFI’s RodMorrison (London 44207 369 7570) or TFSD’sMichelle Tan (New York001 973 645 9710) orTFSD’s Carina Causon(Manila 00 632 878 5867)if there are concernsregarding the tables andongoing 2007 datacollection.

Methodology


Americas Total project finance loan volume for the Americas in2006 more than doubled that of 2005, coming in atUS$44bn spread across 116 deals. Nearly half of thosedeals, about US$20.5bn, came from the power sector,while US$11.4bn were oil and gas transactions andUS$6.5bn were transportation-related financings.

Credit Suisse dominated the league tables for the sec-ond year in a row for the Americas, with more thanUS$3.5bn in loans and about the same amount in bonds.The bank remains the biggest player in Term B poweracquisition financings and led a handful of these deals in2006, including LSP Gen Finance, Plum Point, ColetoCreek, and Boston Generating.

Citigroup dropped from third in 2005 to 13th, withmost deals done outside the US and no participation inthe booming infrastructure and Term B business seg-ments until the year-end Alinda Roads bond deal. Gold-man, by contrast, was all over these transactions andmoved from eighth in 2005 to an impressive second in2006.

BNP Paribas was a big mover, from 11th to fourth, aswas Calyon, moving from ninth to fifth. Both shops con-tinued to build on their strength in the energy sector anddid a significant amount of work in Latin America.Mizuho remained solid, falling just one place from thirdto second, also with a very strong showing in LatinAmerica deals.

The impact of the large infrastructure deals on the mar-ket might not be immediately apparent, but deals suchas the US$4.1bn Indiana Toll Road (ITR) transaction didcreate a few rising stars on the tables, including DEPFA,which moved from non-existent in 2005 to the 14th in2006 after also arranging deals such as Canada's GoldenEars Bridge and Pocahontas Parkway as well as the ITRtransaction.

Lehman Brothers' switch to arranging more loansthan bonds in the Americas in 2006 was also notable.Lehman came in at sixth in loans, up from 17th the pre-vious year. Lehman's deals in 2006 varied from sizeablepipeline and oil sands transactions to the US$1.6bnfinancing package for Tenaska Power Fund's acquisitionof assets from Constellation Energy.

In the bond market, Lehman was not as active as previ-ous years in the Americas, and CSFB was able to steal the top

slot based largely onoil and gas transac-tions such as CheniereEnergy's massiveUS$2.03bn Sabine PassLNG refinancing and aUS$1bn deal for OPTICanada's oil sands.

Advisories in theAmericas were again

dominated by Ernst & Young, which won the most man-dates for the second consecutive year. PwC was rightbehind, up to second in 2006 from third. The biggest storyin advisories was ABN AMRO, which did not appear at allin 2005 but claimed third position in 2006 based large-ly on the extent of its work in Canadian PPP transactions.A total of 90 advisories were won for the Americas,down only slightly from 102 in 2005.

Asia-PacificPF activity in Asia Pacific is definitely back. A recordUS$39.213bn worth of project financing facilities wereregistered in 2006. This is a significant 82.6% jump fromthe previous year’s US$21.474bn volume after an adjust-ment. The 2006 figures also broke 2004's recordUS$35.942bn volume, making it the busiest PF year todate.

Somehow, it seems that optimism does pay, despitesome political hurdles still to overcome. The buoyant mar-ket saw huge facilities emerging from India, which is fastbecoming the major market in the region next to Aus-tralia. The massive 30mtpa Reliance refinery project inGujarat raised US$2bn from the debt market from some52 financial institutions. India also saw other big projectssuch as the Reliance gas transportation or pipeline proj-ect and the Bharat Oman refinery.

India is now the second busiest market in the region,closing 34 deals worth US$8.9bn and taking a 22.7%share; but Australia managed to keep its position as thebiggest with 41 deals completed valued at US$10.65bn,a chunky 27.2% share.

Some 32 deals worth US$4.646bn, including PPP proj-ects and the Emobile deal, helped Japan become the thirdbusiest. The Philippines was a surprising fourth as it con-tinued to experience lacklustre interest in its asset sales.Nonetheless, the US$3.4bn Mirant acquisition deal attract-ed back investor interest. South Korea, which continuesto offer PPP projects, completes the top 5 markets.

SBI Capital retained its crown for the second consecu-tive year as top arranger in the region. India's domesticmarket is flourishing and this upwards trend is expectedto continue in the next five years. Its infrastructure alonerequires some US$350m of investment in the latest five-year development plan, and SBI Capital is in an advanta-geous position – as are the Chinese banks in China, SouthKorean banks inSouth Korea andJapanese banks inJapan – three othermarkets whose localcurrency fundingrequirements makeit tough for the inter-national banks tocompete.

2006 League Tables

PF activity in Asia Pacific isdefinitely back.

1 - Credit Suisse (1)

2 - Goldman Sachs (8)

3 - Mizuho (2)

4 - BNPParibas (11)

5 - Calyon (9)

AMERICAS TOP 5 LOAN ARRANGERS(2005 POSITION IN BRACKETS)

1 - State Bankof India (1)

2 - Calyon (6)

3 - Mitsubishi UFJ (8)

4 - Mizuho (4)

5 - SMBC(10)

ASIA PACIFIC TOP 5 LOAN ARRANGERS(2005 POSITION IN BRACKETS)


France was the stellarperformer in theregion in 2006 mainlydue to its road deals

Nonetheless, Calyon has made it as the second placedarranger last year. It was able to participate in dealsthroughout the region, including Japan, South Korea,India and Australasia. Indeed, it beat the Australianbanks, which usually dominate the top five positions.

The three major Japanese banks are now occupying thenext three positions. They were active not just becauseof the domestic markets but because they are stretchingout into other markets as well – such as Australia, thePhilippines, India and Singapore.

Among Australian banks, only NAB and ANZ are in thetop 10. KDB, Standard Chartered Bank and HSBC makeup the rest of top 10. On the sector side, transportationled the deals, with power second and oil and gas third.The bond market is still to take off in Asia. Project bondsremain limited to the Australia and Malaysian markets.

The advisory table sees SBI Capital emerging as the topadviser with 45 mandates won last year. While these weremainly domestic projects, it won’t be long before the likesof E&Y (second), PwC (third), Macquarie (fourth), HSBC(fifth) and others will challenge SBI's comfortable posi-tion.

The new year might see more gencos put on sale as inSingapore and the Philippines, but Indonesia, Thailand,Laos and Vietnam are keen to have new greenfield proj-ects developed. The Mirant sale is expected to be con-cluded and the complete financing for the Tangguh LNGproject will be in place. India and Australia are most like-ly to remain busy.

Europe, Middle East & AfricaGrowth in the EMEA project finance markets was sub-dued in 2006 but this does not mean the market itself wasin the doldrums. Indeed, it is perhaps an achievement thatthe 2005 number of US$94.4bn was surpassed in 2006.Volumes grew to US$97.4bn, now very close to theUS$100bn mark. Will this be reached in 2007? Perhaps.

This would depend on the Middle East markets con-tinuing to supply a solid base of US$30bn of loans per yearas they have in the past two years. The power and petro-chemical sectors continue to have strong pipelines into2007, with some mega IWPP and refinery/petrochemicalschemes due into the market this year. But a lot willdepend on Saudi Arabia, the new home of project financein the regions following the tail-off in activity in Qatar.

Aside from the Middle East, there was good deal flowacross the EMEA region in 2006 – in Europe, the Middle

East and even Africa. The latter contributed nearlyUS$5bn to the total, which must be a minor record initself.

France was the stellar performer in the region in 2006due mainly to its road deals. Spain slipped back a littlebut kept above the US$10bn mark, but volumes in Italymore than halved. With more economic cutbacks inthat country, Italy might not recover for some time.Activity in Germany will probably go the other way, how-ever – up as in 2006.

Saudi Arabia and the UK will remain the stalwarts ofthe market in 2007, although in truth there are few bigUK deals on the horizon right now.

The transportation sector overtook the power sectorin EMEA for the first time, at US$27.4bn compared withUS$26.6bn. Power could be heading for a come-back asthe staple project finance activity in EMEA. Oil and gasprices are slipping, so that sector could drop. But powerprojects across Continental Europe, the Middle East andAfrica are now progressing – whether traditional IPP ornew renewable developments.

There are still a few more mega petrochemical andrefinery schemes in the Middle East to keep that sector'snumbers up, perhaps for another year.

On the advisory side, SMBC had a very strong year, sim-ply on the back of two mega mandates in the Middle East– Rabigh in Saudi Arabia and Nakilat LNG shipping inQatar. The Singapore office of the bank had an importantrole in both. As usual, the market was split among theaccountants and a whole range of PFI-related deals andinternational bank advisers such as HSBC and SG. Ernst& Young came second in the table due to its work help-ing Aramco with Rabigh.

The advisory tables do show some interesting facts. BNPParibas, for example, had by far the most private sectormandates and closed three landmark deals. HSBC had agood mix of private and public mandates while Citigroupand Calyon chose tofocus on the privateside. The latter twoscored some impor-tant wins in 2006 butgiven the time delayof projects, did notfeature as high in thetables. This year willbe different.

Volumes grew to US$97.4bn, now very close to the U$100bn mark. Will this be reached in 2007?

1 - Royal Bankof Scotland (1)

2 - SG (3)

3 - BBVA (19)

4 - Calyon (4)

5 - ABN AMRO (13)

EMEA TOP 5 LOAN ARRANGERS(2005 POSITION IN BRACKETS)

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2006 League Tables

1 RBS 13,236.7 7.3 66

2 Calyon 8,664.4 4.8 60

3 Mizuho Financial 7,722.8 4.3 54

4 SG 7,028.5 3.9 34

5 ABN AMRO 6,276.3 3.5 18

6 BNPParibas 5,930.3 3.3 47

7 BBVA 5,790.6 3.2 32

8 WestLB 5,436.4 3.0 36

9 State Bankof India 5,365.2 3.0 27

10 Mitsubishi UFJ 4,425.5 2.5 47

11 Credit Suisse 4,246.0 2.4 14

12 HSBC 4,125.2 2.3 26

13 Dexia 4,009.0 2.2 39

14 Goldman Sachs 4,004.7 2.2 14

15 SMBC 3,674.7 2.0 33

16 Santander Investment 3,448.4 1.9 30

17 DresdnerKleinwort 3,447.7 1.9 7

18 Citigroup 3,217.7 1.8 20

19 Natixis 3,184.2 1.8 20

20 HSH Nordbank 2,943.5 1.6 35

21 Standard Chartered 2,891.2 1.6 24

22 ING 2,876.4 1.6 21

23 Barclays Capital 2,693.2 1.5 13

24 Depfa 2,383.0 1.3 14

25 RBCCapital Markets 2,199.0 1.2 14

26 JPMorgan 2,195.9 1.2 7

27 Lehman Brothers 2,152.3 1.2 9

28 UniCredit Group 2,095.7 1.2 22

29 Caja Madrid 1,934.8 1.1 22

30 National Australia Bank 1,819.0 1.0 14

31 Bankof Scotland 1,766.6 1.0 21

32 Banco Espirito Santo 1,733.4 1.0 16

33 Caixa Geral de Depositos 1,722.9 1.0 17

34 Fortis 1,678.0 0.9 19

35 Gulf International Bank 1,500.7 0.8 14

36 Korea Development Bank 1,435.9 0.8 11

37 KBCBancassurance 1,288.7 0.7 12

38 ANZ 1,258.1 0.7 19

39 Lloyds TSB 1,252.6 0.7 4

40 Caixa d'Estalvis yPensions 1,135.7 0.6 2

41 BayernLB 1,123.1 0.6 13

42 Arab Petroleum Investment 1,099.2 0.6 6

43 KfW IPEXBank 1,059.4 0.6 8

44 Kookmin Bank 981.6 0.5 6

45 CBA 980.4 0.5 11

46 Morgan Stanley 974.3 0.5 4

47 IKB Deutsche Industriebank 898.6 0.5 5

48 Industrial & Comm BankChina 826.9 0.5 2

49 NordLB 787.4 0.4 15

50 Banco Comercial Portugues 776.1 0.4 7

51 Ahorro Corporacion Financiera 757.8 0.4 4

52 Banque Al Saudi Al Fransi 757.2 0.4 4

53 Bankof Nova Scotia 733.3 0.4 9

54 Bilbao Bizkaia Kutxa 703.3 0.4 1

55 Saudi British Bank 682.9 0.4 3

56 MCCCapitalia 586.5 0.3 11

57 Shinhan Bank 568.6 0.3 2

58 UOB 568.0 0.3 5

59 Investec 518.0 0.3 8

60 TD Securities 517.4 0.3 4

61 Saudi Hollandi Bank 505.3 0.3 3

62 Banque Misr 484.7 0.3 3

63 Nordea 476.6 0.3 4

64 Banco de Sabadell 473.1 0.3 7

65 DBS 472.2 0.3 4

66 Arab Banking Corporation 448.6 0.3 5

67 Merrill Lynch 425.0 0.2 2

68 Banca Intesa 409.6 0.2 6

69 Wachovia 400.0 0.2 1

70 Bancof America Securities 390.3 0.2 3

71 DZBank 390.0 0.2 6

72 Standard Bank 388.0 0.2 4

73 China Development Bank 375.4 0.2 2

74 DnB NOR BANKASA 368.7 0.2 5

75 QatarNational Bank 362.1 0.2 5

76 Credit Mutuel 355.5 0.2 2

77 WestpacBanking 352.9 0.2 7

78 BankAl Bilad 343.5 0.2 1

=78 IslamicDevelopment Bank 343.5 0.2 1

=78 Riyadh Bank 343.5 0.2 1

=78 Sumitomo Trust & Banking 343.5 0.2 1

82 Export Development Corp of CA 341.9 0.2 5

83 Consolidated Eurofinance 337.6 0.2 2

84 Saudi American Bank 326.2 0.2 2

85 Allied Irish Banks 323.4 0.2 6

86 Fubon Financial 310.8 0.2 1

=86 Fuhwa Financial 310.8 0.2 1

=86 Ta Chong Bank 310.8 0.2 1

=86 Taishin International Bank 310.8 0.2 1

90 Bankof Ireland 296.5 0.2 4

91 Bankof China 286.6 0.2 2

92 Commercial Bankof Qatar 284.0 0.2 4

93 Arab Bank 283.8 0.2 4

94 OCBC 279.4 0.2 2

95 Infrastructure DevFinance 273.7 0.2 4

96 NIB Capital 267.0 0.2 3

97 LandesbankHessen-Thueringen 260.7 0.1 1

98 BMO Capital Markets 259.0 0.1 3

99 Dubai IslamicBank 250.0 0.1 1

=99 Emirates Bank International 250.0 0.1 1

Mandated No ofarrangers US$ (m) % deals


GLOBAL MANDATED LEAD ARRANGERS


101 National Bankof Egypt 228.6 0.1 2

102 Unit Trust of India 221.3 0.1 2

103 Suncorp Metway 216.8 0.1 3

104 Aozora Bank 207.6 0.1 1

105 CoBankACB 206.6 0.1 4

106 Krung Thai Bank 200.3 0.1 1

=106 Siam CityBank 200.3 0.1 1

=106 TMB Bank 200.3 0.1 1

109 BankMuscat Al Ahli Al Omani 189.9 0.1 3

110 Development Bankof Japan 181.1 0.1 3

111 ICICI Bank 176.9 0.1 2

112 Caixa de Galicia 171.4 0.1 1

=112 Instituto de Credito Oficial 171.4 0.1 1

114 Rabobank 161.2 0.1 1

115 Mashreq Bank 155.1 0.1 2

116 LandesbankBaden-Wurttemberg 152.4 0.1 1

117 Rashid Hussain 148.8 0.1 1

118 NedcorBank 143.3 0.1 1

119 Banco de Valencia 141.7 0.1 1

120 IDBI 135.7 0.1 1

121 Shinkin Central Bank 121.2 0.1 1

122 Agricultural Bankof China 107.7 0.1 1

=122 China Construction Bank 107.7 0.1 1

=122 Export Import Bankof ROC 107.7 0.1 1

125 Caja de Castilla la Mancha 106.5 0.1 2

126 Woori Financial 100.0 0.1 1

127 Commerzbank 97.9 0.1 2

128 Banca IMI 92.4 0.1 2

129 Abu Dhabi Commercial 89.1 0.1 2

130 BankAl-Jazira 87.5 0.1 1

131 Arab African International Bk 85.7 0.1 1

=131 Continental International Bank 85.7 0.1 1

133 Commercial Intl Bank 83.6 0.1 1

134 Banco Portugues de Invest SGPS 82.8 0.1 3

135 SunTrust Banks 80.0 0.0 1

136 Commercial Bankof Kuwait 78.1 0.0 1

=136 Hypo-bank 78.1 0.0 1

=136 National Bankof Greece 78.1 0.0 1

139 Banco de Oro Universal Bank 77.1 0.0 2

140 Bankof Baroda 76.9 0.0 1

141 Oman Arab BankSAO 75.0 0.0 1

142 National Commerical Bank 74.3 0.0 1

143 Investkredit Bank 72.4 0.0 1

144 Banco PopularEspanol 62.3 0.0 1

145 CIBC 58.7 0.0 1

146 Greenstone Farm Credit 57.8 0.0 1

147 CaterpillarFinancial Services 55.3 0.0 1

148 National Bankof Oman 46.9 0.0 1

=148 Oman International BankSAOG 46.9 0.0 1

150 Deutsche Bank 46.0 0.0 1

151 Hessesische LandesbankGiro 45.3 0.0 1

152 Bankof Philippine Islands 43.8 0.0 1

153 Macquarie Bank 42.5 0.0 1

154 Bankof Bahrain & Kuwait 38.5 0.0 1

155 Turkiye VakiflarBankasi TAO 37.0 0.0 1

156 DEG-Deutsche Finanz 30.0 0.0 1

157 Banco Portugues de Negocios 28.8 0.0 1

158 Nederlandse Fin.-Maat. 28.6 0.0 1

159 INBURSA 27.1 0.0 1

160 Rothschild 25.0 0.0 1

161 Caixa d'Estalvis de Catalunya 18.8 0.0 1

162 BankBukopin 16.9 0.0 1

=162 Para Global Investindo 16.9 0.0 1

164 Ahli United Bank 14.9 0.0 1

=164 British Arab Commercial Bank 14.9 0.0 1

=164 First Gulf Bank 14.9 0.0 1

=164 National Bankof Abu Dhabi 14.9 0.0 1

=164 United Arab Bank 14.9 0.0 1

Total 180,609.4 100.0 541



GLOBAL MANDATED LEAD ARRANGERS CONTINUED


2006 League Tables

United States of America 28,453.8

France 16,128.6

Saudi Arabia 15,305.0

United Kingdom 14,783.6

Spain 11,034.8

Australia 10,651.4

India 8,919.0

Canada 6,509.9

Qatar 4,720.5

Japan 4,646.4

Germany 3,990.9

Italy 3,852.7

Brazil 3,750.6

Philippines 3,696.0

Portugal 3,553.4

South Korea 3,510.3

Oman 3,148.2

Mexico 2,979.5

Kuwait 2,500.0

United Arab Emirates 2,104.0

Nigeria 1,691.2

Egypt 1,584.7

Malaysia 1,498.3

Singapore 1,469.5

Taiwan 1,404.1

Angola 1,400.0

Bahrain 1,204.0

Greece 1,145.8

Republicof Ireland 1,072.4

China 1,017.7

Bulgaria 959.2

Cyprus 942.5

Kazakhstan 920.0

South Africa 871.9

Denmark 818.7

Hong Kong 699.5

Trinidad and Tobago 687.1

Poland 661.9

Indonesia 641.8

Peru 601.7

Laos 600.9

Chile 561.9

Austria 500.3

Netherlands 483.6

Czech Republic 363.9

Zambia 356.8

Belgium 342.6

Venezuela 334.0

Thailand 271.8

Russian Federation 235.1

Azerbaijan 175.0

Turkey 148.0

New Zealand 140.5

Haiti 134.0

Norway 127.4

Ghana 125.0

Fiji 46.0

Mauritania 42.5

Armenia 30.0

Hungary 23.4

Burkina Faso 20.0

Croatia 16.7

Total 180,609.4

Country Volume (US$m) Country Volume (US$m)

GLOBAL LOANS BY COUNTRY

Power 57,105.5

Transportation 44,595.6

Oil & Gas 26,371.5

Petrochemicals 20,259.8

Leisure & Property 17,254.0

Industry 4,227.0

Water& Sewerage 3,821.0

Mining 3,307.1

Telecommunications 3,137.3

Waste & Recycling 320.5

Agriculture & Forestry 210.1

Total 180,609.4

Sector Volume (US$m)

GLOBAL LOANS BYSECTOR


1 Credit Suisse 3,547.3 8.1 10 LSPGen Finance Co LLC (United States; 415.5), Plum Point EnergyAssociates (United States, 187.5),

Christina Lake Oil Sands (Canada, 375.0), Central Illinois Energy (United States, 87.5), Coleto CreekPower

(United States, 522.5), Hawkeye Renewables (United States, 233.3), Christina Lake Oil Sands (Canada, 200.0),

Tenaska Inc(United States, 329.0), OPTICanada Inc(Canada, 147.0), Boston Generating Llc(United States, 1,050.0)

2 Goldman Sachs 3,331.1 7.6 10 LSPGen Finance Co LLC (United States, 415.5), Astoria Generating Acquisition (United States, 237.5), Plum

Point EnergyAssociates (United States, 187.5), BC2 Maple Ridge Wind LLC (United States, 87.8), Coleto Creek

Power (United States, 522.5), Hawkeye Renewables (United States, 233.3), Northeast Biofuels (United States,

54.3), NE Energy (United States, 213.8), Tenaska Inc (United States, 329.0), Boston Generating Llc (US, 1,050.0)

3 Mizuho Financial 3,015.9 6.9 19 Southern Pines EnergyCenter (United States, 115.0), Usiminas (Brazil, 100.0), Aragonne Mesa Wind Farm

(United States, 46.7), Espadarte Sul FPSO (Brazil, 210.0), North America Capital Holding (United States,

161.7), Jujo-Tecominoacan Oil Recovery (Mexico, 29.8), Sabine Pass LNG Terminal (United States, 300.0),

SweetwaterWind Farm Co (United States, 114.2), Buena Vista Energy, LLC (United States, 19.3), Antamina

(Peru, 58.7), PDET (Brazil, 327.6), GSG LLC (United States, 30.0), J-POWER USA Development Co Ltd (United

States, 185.0), CedarCreekWind EnergyLLC (United States, 144.4), Pemex-Exploracion yProduccion (Mexico,

600.0), Lone StarWind LLC (United States, 233.3), Metor (Venezuela, 167.0), AlleghenyRidge Wind Farm LLC

(United States, 76.1), BBWP1 LLC (United States, 97.2)

4 BNPParibas 2,349.8 5.3 14 Revap (Brazil, 123.4), Astoria Generating Acquisition (United States, 237.5), Casa Berardi Gold (Canada, 56.7),

GorewayThermal Plant (Canada, 187.3), Indiana Toll Road (United States, 585.7), ConnacherOil & Gas Ltd

(Canada, 51.0), Dolores Gold-Silver (Mexico, 75.0), Northern StarGeneration LLC (United States, 139.0), OPTI

Canada Inc (Canada, 161.6), Wolverine Coal Ltd (Canada, 67.0), BFE Operating Co (United States, 230.0),

ConnacherOil & Gas Ltd (Canada, 195.0), Porto Primavera Transmissora (Brazil, 91.6), Energia Azteca

(Mexico, 149.0)

5 Calyon 2,338.8 5.3 17 Revap (Brazil, 123.4), TrinityCoal (United States, 90.0), WindsorFinancial Group LLC (United States, 32.4),

Odessa PowerProject (United States, 46.8), Iberdrola Ingeniera y (Mexico, 21.2), Atlantic LNG (Trinidad &

Tobago, 238.6), AESEastern EnergyLP (United States, 175.0), Northeast Biofuels LP (United States, 54.3),

Alunorte Aluminum Refinery (Brazil, 77.5), Empresa Electrica Guacolda SA (Chile, 133.0), Tenaska Inc (United

States, 329.0), LowerWilgat LLC (United States, 76.7), Thermal North America Inc (United States, 185.0),

Falcon Resources (United States, 45.5), Energia Azteca (Mexico, 149.0), Empresa Guacolda SA (Chile, 390.0),

Iberdrola Ingenieria y (Mexico, 171.4)

6 Lehman Brothers 2,018.5 4.6 8 Christina Lake Oil Sands (Canada, 375.0), Rockies Express Pipeline (United States, 400.0), Trigen Sempra LLC

(United States, 70.0), CIT Group Inc (United States, 320.5), Northern StarGeneration LLC(United States, 139.0),

Christina Lake Oil Sands (Canada, 200.0), Tenaska Inc(United States, 329.0), Thermal North America (US, 185.0)

7 RBS 1,873.4 4.3 11 OPTI Canada Inc (Canada, 21.5), Indiana Toll Road (United States, 585.7), Rockies Express Pipeline (United

States, 400.0), Canaport LNG (Canada, 151.2), OPTI Canada Inc (Canada, 161.6), Spindle Hill Energy (United

States, 29.6), Constellation EnergyPartners (United States, 200.0), LowerWilgat LLC (United States, 76.7),

Cerro Corona Copper& Gold (Peru, 50.0), OPTI Canada Inc (Canada, 147.0), Cannon Falls Natural Gas-

(United States, 50.2)

8 ABN AMRO 1,756.8 4.0 8 GorewayThermal Plant (Canada, 187.3), Brookfield Wind Power (Canada, 53.6), Rio do Fogo Wind Farm

(Brazil, 32.1), Brasil PCH (Brazil, 474.1), Marlim Leste Oil Field (Brazil, 750.0), Antamina (Peru, 58.7), ESPRA

(Brazil, 29.6), Iberdrola Ingenieria y (Mexico, 171.4)

9 WestLB 1,691.7 3.8 9 ASAlliances Biofuels (United States, 275.0), LSPGen Finance Co LLC (United States, 415.5), Cascade Green

Ethanol (United States, 100.0), White EnergyCorp (United States, 57.8), NE Energy (United States, 213.8),

Alunorte Aluminum Refinery (77.5), Buffalo Gap (United States, 106.7), White EnergyCorp (United States,

298.5), OPTI Canada Inc (Canada, 147.0)

10 HSH Nordbank 1,459.1 3.3 15 Mars Hill Wind (United States, 42.0), Aragonne Mesa Wind Farm (United States, 46.7), UPCWind Acquisition

(United States, 172.0), Spindle Hill Energy (United States, 29.6), SweetwaterWind Farm Co (United States,

114.2), Buena Vista Energy, LLC (United States, 19.3), GSG LLC (United States, 30.0), Terrawinds Resources

Corp (Canada, 117.0), CedarCreekWind EnergyLLC (United States, 144.4), Mars Hill Wind (United States,

70.0), Cannon Falls Natural Gas- (United States, 50.2), FortistarRenewables Group LLC (United States, 97.5),

AlleghenyRidge Wind Farm LLC (United States, 76.1), BBWP1 LLC (United States, 97.2), White CreekWind LLC


Lead manager Volume (U$Sm) % No ofdeals Deals

AMERICAS MANDATED LEAD ARRANGERS


2006 League Tables

11 BBVA 1,402.5 3.2 10 Mexico CityAirport (Mexico, 27.1), Indiana Toll Road (United States, 585.7), Iberdrola Ingenieria y (Mexico,

21.2), TermoFortaleza (Brazil, 43.3), Thames WaterChilean Utilities (Chile, 0.1), RedesurElectricity (Peru,

40.7), Canaport LNG (Canada, 151.2), Antamina (Peru, 58.7), Concesionaria Mexiquense (Mexico, 303.1),

Iberdrola Ingenieria y (Mexico, 171.4)

12 Dexia 1,326.4 3.0 6 Indiana Toll Road (United States, 585.7), InvenergyWind Turbines (United States, 120.0), Golden Ears Bridge

(Canada, 454.7), Jujo-Tecominoacan Oil Recovery (Mexico, 29.8), Spindle Hill Energy (United States, 29.6),

Buffalo Gap (United States, 106.7)

13 Citigroup 1,219.9 2.8 8 Mexico CityAirport (Mexico, 27.1), Rockies Express Pipeline (United States, 400.0), Digicel Trinidad & Tobago

(Trinidad & Tobago, 28.6), Digicel Haiti (Haiti, 134.1), Entegra PowerGroup (United States, 350.0), Antamina

(Peru, 58.7), Cerro Corona Copper& Gold (Peru, 50.0), Iberdrola Ingenieria y (Mexico, 171.4)

14 Depfa 1,215.2 2.8 4 Indiana Toll Road (United States, 585.7), Golden Ears Bridge (Canada, 454.7), Pocahontas Parkway

Association (United States, 136.0), Puerto Terrestre de los Andes (Chile, 38.9)

15 Santander Investment 1,194.3 2.7 10 Revap (Brazil, 123.4), Indiana Toll Road (United States, 585.7), Iberdrola Ingenieria y (Mexico, 21.2), Termo

Fortaleza (Brazil, 43.3), Thames WaterChilean Utilitiess (Chile, 0.1), Canaport LNG (Canada, 151.2), ATE II

Transmissora de Energia (Brazil, 10.3), White EnergyCorp (United States, 57.8), Jujo-Tecominoacan Oil

Recovery (Mexico, 29.8), Iberdrola Ingenieria y (Mexico, 171.4)

16 JPMorgan 942.8 2.1 3 Rockies Express Pipeline (United States, 400.0), NE Energy (United States, 213.8), Tenaska Inc


17 UniCredit Group 896.5 2.0 9 MeadowbankMining Corp (Canada, 75.9), BC2 Maple Ridge Wind LLC (United States, 87.8), Digicel Trinidad &

Tobago (Trinidad & Tobago, 28.6), Pocahontas ParkwayAssociation (United States, 135.9), Forest Wind Creek

Farm (United States, 249.5), Airtricity Inc (United States, 58.3), Buffalo Gap (United States, 106.7), Sand Bluff

Wind Farm (United States, 132.0), Airtricity Inc (United States, 21.7)

18 Morgan Stanley 840.5 1.9 3 LSPGen Finance Co LLC (United States, 415.5), Astoria Generating Acquisition (United States, 237.5), Plum

Point EnergyAssociates (United States, 187.5)

19 BayernLB 829.5 1.9 9 Aragonne Mesa Wind Farm (United States, 46.7), North America Capital Holding (United States, 161.7),

SweetwaterWind Farm Co (United States, 114.2), Buena Vista Energy, LLC (United States, 19.2), Airtricity Inc

(United States, 58.3), GSG LLC (United States, 30.0), CedarCreekWind EnergyLLC (United States, 144.4), Lone

StarWind LLC (United States, 233.3), Airtricity Inc (United States, 21.7)

20 SG 817.8 1.9 5 Revap (Brazil, 123.4), MeadowbankMining Corp (Canada, 75.9), Sabine Pass LNG Terminal (United States,

300.0), Hereford Fuel Ethanol Plant (United States, 253.5), Cambridge Ethanol Plant (United States, 65.0)

21 RBCCapital Markets 796.0 1.8 6 OPTI Canada Inc (Canada, 21.4), GorewayThermal Plant (Canada, 187.3), Aquarion Co (United States, 225.0),

Brookfield Wind Power (Canada, 53.6), OPTI Canada Inc (Canada, 161.6), OPTI Canada Inc (Canada, 147.0)

22 Fortis 714.9 1.6 6 Odessa PowerProject (United States, 46.8), Brookfield Wind Power (Canada, 53.7), BC2 Maple Ridge Wind LLC

(United States, 87.8), LowerWilgat LLC (United States, 76.6), ScurryCountyWind (United States, 216.7), Lone

StarWind LLC (United States, 233.3)

23 Bankof Nova Scotia 708.3 1.6 8 Opti Canada Inc (Canada, 21.4), GorewayThermal Plant (Canada, 187.3), Brookfield Wind Power (Canada,

53.6), Digicel Trinidad & Tobago (Trinidad & Tobago, 28.6), OPTI Canada Inc (Canada, 161.6), Antamina (Peru,

58.7), Cero Corona Copper& Gold (Peru, 50.0), OPTI Canada Inc (Canada, 147.0)

24 ING 693.3 1.6 5 Odessa PowerProject (United States, 46.8), Pine Prairie EnergyCenter (United States, 80.0), PRA-1FSO (Brazil,

189.0), Sabine Pass LNG Terminal (United States, 300.0), Alunorte Aluminum Refinery (Brazil, 77.5)

25 Mitsubishi UFJ 603.8 1.4 5 Revap (Brazil, 123.4), Cabiunas Investment Co Ltd (Brazil, 83.4), Morris Cogen (United States, 55.0), AES

Eastern EnergyLP (United States, 175.0), Metor (Venezuela, 167.0)

26 Caja Madrid 585.7 1.3 1 Indiana Toll Road (United States, 585.7)

27 TD Securities 517.4 1.2 4 OPTI Canada Inc (Canada, 21.5), GorewayThermal Plant (Canada, 187.3), OPTI Canada Inc (Canada, 161.6),

OPTI Canada Inc (Canada, 147.0)

28 Merrill Lynch 425.0 1.0 2 Astoria Generating Acquisition (United States, 250.0), Plum Point EnergyAssociates, (United States, 175.0)

29 Wachovia 400.0 0.9 1 Rockies Express Pipeline (United States, 400.0),

30 HSBC 327.1 0.7 2 Mexico CityAirport (Mexico, 27.1), Sabine Pass LNG Terminal (United States, 300.0)

31 KfW IPEXBank 325.5 0.7 2 AUMIntegrated Petrochemical (Trinidad & Tobago, 248.0), Alunorte Aluminum Refinery (Brazil, 77.5)

32 Bancof America 313.3 0.7 2 Pine Prairie EnergyCenter (United States, 80.0), Hawkeye Renewables (United States, 233.3)

33 Lloyds TSB 300.0 0.7 1 Sabine Pass LNG Terminal (United States, 300.0)


AMERICAS MANDATED LEAD ARRANGERS CONTINUED


34 Barclays Capital 289.6 0.7 2 MeadowbankMining Corp (Canada, 75.9), NE Energy (United States, 213.6)

35 BMO Capital Markets 259.0 0.6 3 Brookfield Wind Power (Canada, 53.6), Canaport LNG (Canada, 151.2), Northeast Biofuels LP (US, 54.3)

36 SMBC 246.8 0.6 2 Revap (Brazil, 123.4), CalPeakPowerLLC (United States, 123.4)

37 DresdnerKleinwort 225.0 0.5 1 Aquarion Co (United States, 225.0)

38 NordLB 207.3 0.5 4 Odessa PowerProject (United States, 46.8), Green EnergyLibramiento (Mexico, 80.4), Airtricity Inc (US, 80.0)

39 CoBankACB 206.6 0.5 4 Odessa PowerProject (United States, 46.8), Pine Prairie EnergyCenter (United States, 80.0), Spindle Hill

Energy (United States, 29.6), Cannon Falls Natural Gas- (United States, 50.2)

40 Caixa Geral de Depositos 194.5 0.4 2 TermoFortaleza (Brazil, 43.3), Canaport LNG (Canada, 151.2)

41 Bankof Ireland 190.3 0.4 2 Digicel Trinidad & Tobago (Trinidad & Tobago, 28.6), North America Capital Holding (United States, 161.7)

42 Export Development Corp of CA 177.6 0.4 2 Digicel Trinidad & Tobago (Trinidad & Tobago, 28.6), Energia Azteca (Mexico, 149.0)

43= Caixa de Galicia 171.4 0.4 1 Iberdrola Ingenieria y (Mexico, 171.4)

43= Instituto de Credito Oficial 171.4 0.4 1 Iberdrola Ingenieria y (Mexico, 171.4)

45 Capitalia SpA 148.9 0.3 2 Tocantins Highway Integration (Brazil, 106.2), State of Para Bridges (Brazil, 42.7)

46 Banco Espirito Santo 136.0 0.3 1 Pocahontas ParkwayAssociation (United States, 136.0)

47 Standard Chartered 123.4 0.3 1 Revap (Brazil, 123.4)

48 Allied Irish Banks 108.4 0.3 3 Digicel Trinidad & Tobago (Trinidad & Tobago, 28.6), Spindle Hill Energy (United States, 29.6), Cannon Falls

Natural Gas- (United States, 50.2)

49 SunTrust Banks 80.0 0.2 1 Pine Prairie EnergyCenter (United States, 80.0)

50= Banco Comercial Portugues 58.7 0.1 1 Antamina (Peru, 58.7)

50= CIBCWorld Markets 58.7 0.1 1 Antamina (Peru, 58.7)

52 Greenstone Farm Credit 57.8 0.1 1 White EnergyCorp (United States, 57.8)

53 Commerzbank 54.3 0.1 1 Northeast Biofuels LP (United States, 54.3)

54 Nederlandse Fin.-Maat. 28.6 0.1 1 Digicel Trinidad & Tobago (Trinidad & Tobago, 28.6)

55 INBURSA 27.1 0.1 1 Mexico CityAirport (Mexico, 27.1)

56 Standard BankGroup 12.5 0.0 1 El Chanate Gold Co (Mexico, 12.5)

Total 44,012.3 100.0 116


AMERICAS MANDATED LEAD ARRANGERS CONTINUED

Power 20,573.8

Oil & Gas 11,439.3



Mining 1,675.3

Industry 1,360.0

Water& Sewerage 450.0

Telecommunications 334.5

Total 44,012.3


AMERICAS LOANS BYSECTOR

United States of America 28,453.8

Canada 6,509.9

Brazil 3,750.6

Mexico 2,979.5

Trinidad and Tobago 687.1

Peru 601.7

Chile 561.9

Venezuela 334.0

Haiti 134.0

Total 44,012.3

Country Volume (US$m)

AMERICAS LOANS BY COUNTRY


2006 League Tables

1 State Bankof India 5,365.2 13.7 27 Madhucon Agra Jaipur (India, 45.1), Hazira Steel Plate Plant (India, 135.7), Second Vivekananda Bridge

(India, 91.1), Bharat Oman Refineries Ltd (India, 1451.6), Petronet LNG Expansion (India, 366.6), Central UP

Gas Co (India, 14.8), Krishnagiri ThopurTollroad (India, 101.4), Mundra Port and Special (India, 123.7),

Reliance Petroleum Ltd (India, 76.9), Jas Toll Road Company (India, 40.9), JSW Steel Ltd (India, 193.5), L&T

Transportation (India, 34.1), Malegaon Manmad Kopargaon (India, 13.3), Mawana Sugars Ltd (India, 71.3),

Swarna TollwayPvt Ltd (India, 88.9), Balaji Tollways Ltd (India, 24.4), Mumbai NasikExpressway (India,

147.7), Jallandhar to AmritsarToll Rd (India, .35.7), Lucknow - SitapurExpressway (India, 46.5), Raipur-

Aurang Road (India, 43.5), Indu Navayuga Infra Projects (India, 59.1), TrichyTollwayPvt Ltd (India, 120.2),

Tamil Nadu (DK) Expressways (India, 49.8), TrichyThanjavurExpressways (India, 56.7), Adani Agri Logistics Ltd

(India, 108.7), Reliance Gas Transportation (India, 1556.0), L&T Vadodara Bharuch Tollway (India, 267.9)

2 Calyon 2,290.7 5.8 14 Uijongbu LRTCo. (South Korea, 86.1), Reliance Petroleum Ltd (India, 76.9), Transfield Services Ltd (Australia, 67.5),

eMobile Ltd (Japan, 207.6), Millmerran PowerProject (Australia, 72.3), BraemarPowerStation (Australia, 141.6),

BLCPPowerLtd (Thailand, 25.9), Asia ContainerTerminal Hldgs (Hong Kong, 40.7), RiverCityMotorwayGroup

(Australia, 305.6), Mirant Asia-Pacific Ltd (Philippines, 43.8), Swiss II Power (Australia, 187.8), Hanjin Pacific

Corp (South Korea, 100.0), ConnectEast Group (Australia, 234.9), Tokyo Crimson EnergyHldg Corp (Philippines, 700.0)

3 Mitsubishi UFJ 2,140.5 5.5 29 Reliance Petroleum Ltd (India, 76.9), Atsumi Wind PowerPlant (Japan, 10.9), Chochi Wind PowerPlant (Japan,

14.5), Dampier-BunburyGas Pipeline (Australia, 42.8), Daisen Wind PowerPlant (Japan, 19.7), Houhoku

Wind Farm (Japan, 21.9), Minamiawaji Wind Farm (Japan, 32.8), Odanosawa Wind Farm (Japan, 12.1),

Haneda International Airport (Japan, 81.2), Betsukai-cho Wste Dsposl Plnt (Japan, 25.8), eMobile Ltd (Japan,

207.6), Food waste Biomass PowerPlant (Japan, 18.7), Food Waste Disposal Plant (Japan, 30.6), Hizen Wind

PowerPlant (Japan, 13.6), Kotoura Wind PowerPlant (Japan, 16.6), LoyYang B (Australia, 88.2), Soya Misaki

Wind Farm (Japan, 73.9), Suzu Wind PowerPlant (Japan, 12.7), Diet Parliament Office Bldg (Japan, 698.6),

Mine Prison PFI (Japan, 131.1), Brisbane Airport Corp (Australia, 73.2), Integra Mining Ltd (Australia, 67.0),

BLCPPowerLtd (Thailand, 25.9), Mirant Asia-Pacific Ltd (Philippines, 43.8), Kyoto PrimarySchool (Japan,

30.5), Togo Town ElementarySchool (Japan, 7.7), TM Energy [Australia] Pty Ltd (Australia, 40.8), Chiba Police

Headquarter (Japan, 144.0), Dalrymple BayCoal Terminal Co (Australia, 77.6)

4 Mizuho Financial 2,132.2 5.4 22 Reliance Petroleum Ltd (India, 76.9), Aduchi Oshima Wind Farm (Japan, 34.9), Diet Parliament Office Bldg

(Japan, 121.2), Satomi Wind Farm (Japan, 10.1), Haneda International Airport (Japan, 81.2), eMobile Ltd

(Japan, 207.6), Millmerran PowerProject (Australia, 72.3), Nagasaki City Library (Japan, 12.1), SembCorp

Cogen Pte Ltd (Singapore, 47.2), Osaka Urban Infrastructure (Japan, 78.0), Kagoshima University (Japan, 15.5),

Cairn Energy India Pty Ltd (India, 100.0), Sendai Astro Observatory (Japan, 34.8), EpicEnergy [Australia] Pty Ltd

(Australia, 38.1), Hanjin PacificCorp (South Korea, 100.0), TM Energy [Australia] Pty Ltd (Australia, 40.8),

Manila North Tollways Corp (Philippines, 96.0), Manila North Tollways Corp (Philippines, 33.4), Dalrymple Bay

Coal Terminal Co (Australia, 77.6), Reliance Rail Consortium (Australia, 70.4), Kanto ICCard Interoperation

(Japan, 84.3), Tokyo Crimson EnergyHldg Corp (Philippines, 700.0)

5 SMBC 1,950.8 5.0 17 Hin Leong Trading[Pte]Ltd (Singapore, 85.6), Reliance Petroleum Ltd (India, 76.9), Hachiryu Wind PowerPlant

(Japan, 51.3), Diet Parliament Office Bldg (Japan, 121.2), Haneda International Airport (Japan, 81.2), eMobile

Ltd (Japan, 207.6), Millmerran PowerProject (Australia, 72.3), Amagasaki no Mori Sports Center (Japan, 9.0),

Cairn Energy India Pty Ltd (India, 100.0), BLCPPowerLtd (Thailand, 25.9), USJ Co Ltd (Japan, 156.6), Mirant

Asia-Pacific Ltd (Philippines, 43.8), EpicEnergy[Australia]Pty Ltd (Australia, 38.1), Higashiosaka Shiyoubou

PFI (Japan, 30.9), Tangguh LNG TankerProject (Indonesia, 80.0), Reliance Rail Consortium (Australia, 70.4),

Tokyo Crimson EnergyHldg Corp (Philippines, 700.0)

6 NAB 1,701.3 4.3 12 Hope Downs Mgmt Svcs Pty Ltd (Australia, 90.9), Campus Living Macquarie (Australia, 13.9), Dampier-

BunburyGas Pipeline (Australia, 42.8), LoyYang B (Australia, 88.2), Bluewaters PowerStation (Australia,

99.4), RiverCityMotorwayGroup (Australia, 305.6), NRG Flinders (Australia, 99.2), Alinta Cogeneration

[Pinjarra] (Australia, 375.5), ConnectEast Group (Australia, 234.9), Reliance Rail Consortium (Australia, 70.4),

Coogee Resources Ltd (Australia, 92.7), Hallett Wind Farm (Australia, 188.0)

7 KDB 1,360.9 3.5 10 Pyongtaek I-Port CompanyLtd (South Korea, 172.7), Uijongbu LRT Co. (South Korea, 86.1), Daejeon 5 Schools

(South Korea, 30.1), Mokpo CitySewerage (South Korea, 63.9), YoungdukCitySewerage (South Korea, 43.7),

Wangsimni Railroad Station (South Korea, 115.6), Kyoungjoo Sewage System (South Korea, 105.6), Pyong

Taek4 Schools (South Korea, 35.5), KPower (South Korea, 575.0), PyongtaekGrain Port (South Korea, 132.6)


ASIA PACIFIC MANDATED LEAD ARRANGERS


8 Standard Chartered 1,306.8 3.3 12 Uijongbu LRT Co. (South Korea, 86.1), Hin Leong Trading[Pte]Ltd (Singapore, 85.6), Titan Chemicals Corp Bhd

(Malaysia, 458.3), Reliance Petroleum Ltd (India, 76.9), Qenos Pty Ltd (Australia, 142.9), Cairn Energy India Pty

Ltd (India, 100.0), Asia ContainerTerminal Hldgs (Hong Kong, 40.7), Shinan/Jeju Wind PowerCompany (South

Korea, 27.0), Apexindo Pratama Duta TbkPT (Indonesia, 37.5), Energi Sengkang (Indonesia, 100.0), Energi

Sengkang (Indonesia, 48.0), MDFT (Malaysia, 103.8)

9 HSBC 1,263.8 3.2 9 Ocean Park (Hong Kong, 178.9), Reliance Petroleum Ltd (India, 76.9), Millmerran PowerProject (Australia,

72.3), SembCorp Cogen Pte Ltd (Singapore, 47.2), Horizon Singapore Terminals (Singapore, 171.0), Asia

ContainerTerminal Hldgs (Hong Kong, 40.7), RiverCityMotorwayGroup (Australia, 305.6), Mirant Asia-Pacific

Ltd (Philippines, 43.8), Optimal Olefins[Malaysia] Sdn (Malaysia, 327.5)

10 ANZ 1,158.7 3.0 17 LionOre Australia Pty Ltd (Australia, 112.2), Dampier-BunburyGas Pipeline (Australia, 42.8), EmperorGold

Mines Ltd (Fiji, 46.0), Santos Borrowing Base Facility (Indonesia, 65.0), Transfield Services Ltd (Australia,

67.5), LoyYang B (Australia, 88.2), Millmerran PowerProject (Australia, 72.3), BraemarPowerStation

(Australia, 141.6), BLCPPowerLtd (Thailand, 25.9), Western Areas NL (Australia, 62.7), Maryvale Wood

Infrastructure (Australia, 101.4), Tangguh LNG TankerProject (Indonesia, 80.0), Tuaropaki PowerCo Ltd (New

Zealand, 140.5), Ballarat East Gold Mine (Australia, 37.6), TM Energy[Australia]Pty Ltd (Australia, 40.8),

Glennies CreekCoal Mine (Australia, 22.6), MIM Holdings Ltd-OakyCreek (Australia, 11.8)

11 ING 1,120.9 2.9 6 Keppel Seghers Tuas Waste-to- (Singapore, 32.5), eMobile Ltd (Japan, 207.6), Mirant Asia-Pacific Ltd

(Philippines, 43.8), MDFT (Malaysia, 103.8), Manila North Tollways Corp (Philippines, 33.4), Tokyo Crimson

EnergyHldg Corp (Philippines, 700.0)

12 WestLB 1,020.2 2.6 11 Hin Leong Trading[Pte]Ltd (Singapore, 85.6), Titan Chemicals Corp Bhd (Malaysia, 148.8), Reliance Petroleum

Ltd (India, 76.9), Dampier-BunburyGas Pipeline (Australia, 42.8), Millmerran PowerProject (Australia, 72.3),

Brisbane Airport Corp (Australia, 73.2), BLCPPowerLtd (Thailand, 25.9), Bluewaters PowerStation (Australia,

107.2), RiverCityMotorwayGroup (Australia, 305.6), Mirant Asia-Pacific Ltd (Philippines, 43.8), Epic

Energy[Australia]Pty Ltd (Australia, 38.1)

13 BNPParibas 992.0 2.5 10 Hope Downs Mgmt Svcs Pty Ltd (Australia, 90.9), Reliance Petroleum Ltd (India, 76.9), Dampier-BunburyGas

Pipeline (Australia, 42.8), LoyYang B (Australia, 88.2), SembCorp Cogen Pte Ltd (Singapore, 47.2), Australian

Railroad Grp (Australia, 241.5), BLCPPowerLtd (Thailand, 25.9), Mirant Asia-Pacific Ltd (Philippines, 43.8),

Hanjin PacificCorp (South Korea, 100.0), ConnectEast Group (Australia, 234.9)

14 Kookmin Bank 981.6 2.5 6 Uijongbu LRT Co. (South Korea, 86.1), Pusan Kimhae LRT Project Co (South Korea, 468.7), Incheon North Port

(South Korea, 122.7), Jeonju Sewage Pipe Co Ltd (South Korea, 126.9), Nonsan Sewage Pipe Co Ltd (South

Korea, 37.0), Masan Sewage Pipe Co Ltd (South Korea, 140.1)

15 CBA 828.3 2.1 10 Dampier-BunburyGas Pipeline (Australia, 42.8), Transfield Services Ltd (Australia, 67.5), Australian Zircon NL

(Australia, 34.6), LoyYang B (Australia, 88.2), AED Oil Ltd (Australia, 26.7), Australian Railroad Grp (Australia,

241.5), Long BayPrison Hospital (Australia, 67.5), ConnectEast Group (Australia, 234.9), JackHills Iron Ore

(Australia, 18.6), BMA Gold Twin Hill Refinancing (Australia, 6.1)

16 Industrial & Comm BankChina 826.9 2.1 2 Hynix-ST SemiconductorCorp (China, 750.0), Reliance Petroleum Ltd (India, 76.9)

17 RBS 819.2 2.1 9 Hope Downs Mgmt Svcs Pty Ltd (Australia, 90.9), Reliance Petroleum Ltd (India, 76.9), Transfield Services Ltd

(Australia, 67.5), eMobile Ltd (Japan, 207.6), Millmerran PowerProject (Australia, 72.3), Cairn Energy India Pty

Ltd (India, 100.0), Long BayPrison Hospital (Australia, 67.5), Mirant Asia-Pacific Ltd (Philippines, 43.8),

Coogee Resources Ltd (Australia, 92.7)

18 ABN AMRO 787.1 2.0 6 Reliance Petroleum Ltd (India, 76.9), Cairn Energy India Pty Ltd (India, 100.0), BLCPPowerLtd (Thailand, 25.9),

RiverCityMotorwayGroup (Australia, 305.6), Mirant Asia-Pacific Ltd (Philippines, 43.8), ConnectEast Group

(Australia, 234.9)

19 KBCBancassurance 575.5 1.5 8 Reliance Petroleum Ltd (India, 76.9), Lake Bonney2 Wind Farm (Australia, 57.4), Millmerran PowerProject

(Australia, 72.3), Lake Bonney1 Wind Farm Co (Australia, 17.9), BLCPPowerLtd (Thailand, 25.9), Epic

Energy[Australia]Pty Ltd (Australia, 38.1), Swiss II Power (Australia, 187.8), NRG Flinders (Australia, 99.2)

20 Shinhan Bank 568.6 1.5 2 Pusan Kimhae LRT Project Co (South Korea, 468.7), Hanjin PacificCorp (South Korea, 100.0)

21 UOB 568.0 1.5 5 Millmerran PowerProject (Australia, 72.3), SembCorp Cogen Pte Ltd (Singapore, 47.2), Epic

Energy[Australia]Pty Ltd (Australia, 38.1), Marina BaySands (Singapore, 175.6), ConnectEast Group

(Australia, 234.9)


ASIA PACIFIC MANDATED LEAD ARRANGERS CONTINUED


2006 League Tables

22 Goldman Sachs 539.8 1.4 3 eMobile Ltd (Japan, 207.6), USJ Co Ltd (Japan, 156.6), Marina BaySands (Singapore, 175.6)

23 DBS 472.2 1.2 4 Ocean Park (Hong Kong, 178.9), Reliance Petroleum Ltd (India, 76.9), Asia ContainerTerminal Hldgs (Hong

Kong, 40.7), Marina BaySands (Singapore, 175.6)

24 SG 397.4 1.0 6 Dampier-BunburyGas Pipeline (Australia, 42.8), Lake Bonney2 Wind Farm (Australia, 57.4), Lake Bonney1

Wind Farm Co (Australia, 17.9), Cairn Energy India Pty Ltd (India, 100.0), Bluewaters PowerStation (Australia,

99.4), Tangguh LNG TankerProject (Indonesia, 80.0)

25 Fortis 363.4 0.9 6 Reliance Petroleum Ltd (India, 76.9), Millmerran PowerProject (Australia, 72.3), BLCPPowerLtd (Thailand,

25.9), Mirant Asia-Pacific Ltd (Philippines, 43.8), TM Energy[Australia]Pty Ltd (Australia, 40.8), MDFT

(Malaysia, 103.8)

26 UniCredit Group 355.5 0.9 3 Reliance Petroleum Ltd (India, 76.9), Mirant Asia-Pacific Ltd (Philippines, 43.8), ConnectEast Group (Australia,

234.9)

27 WestpacBanking 352.9 0.9 7 Dampier-BunburyGas Pipeline (Australia, 42.8), Transfield Services Ltd (Australia, 67.5), AED Oil Ltd

(Australia, 26.7), Brisbane Airport Corp (Australia, 73.2), CalEnergyGas[Australia]Ltd (Australia, 34.3), Epic

Energy[Australia]Pty Ltd (Australia, 38.1), Reliance Rail Consortium (Australia, 70.4)

28 Fubon Financial 310.8 0.8 1 Taiwan High Speed Rail Corp (Taiwan, 310.8)

=28 Fuhwa Financial 310.8 0.8 1 Taiwan High Speed Rail Corp (Taiwan, 310.8)

=28 Ta Chong Bank 310.8 0.8 1 Taiwan High Speed Rail Corp (Taiwan, 310.8)

=28 Taishin International Bank 310.8 0.8 1 Taiwan High Speed Rail Corp (Taiwan, 310.8)

32 OCBC 279.4 0.7 2 Marina BaySands (Singapore, 175.6), MDFT (Malaysia, 103.8)

33 Infrastructure DevFinance 273.7 0.7 4 L&T Western Andhra Tollways (India, 60.1), Western UttarPradesh Tollway (India, 85.0), Kumarapalyam

Tollways Limited (India, 74.9), Salem Tollways Limited (India, 53.7)

34 China Development Bank 267.7 0.7 1 East Asia Power [EAP] (China, 267.7)

35 Dexia 263.0 0.7 3 Lake Bonney2 Wind Farm (Australia, 57.4), Lake Bonney1 Wind Farm Co (Australia, 17.9), Swiss II Power

(Australia, 187.8)

36 JPMorgan 251.3 0.6 2 eMobile Ltd (Japan, 207.6), Mirant Asia-Pacific Ltd (Philippines, 43.8)

37 Unit Trust of India 221.3 0.6 2 Hindustan Oil Exloration (India, 100.0), Krishnapatnam Port Co Ltd (India, 121.3)

38 Citigroup 219.8 0.6 3 Reliance Petroleum Ltd (India, 76.9), Dampier-BunburyGas Pipeline (Australia, 42.8), Cairn Energy India Pty

Ltd (India, 100.0)

39 Suncorp Metway 216.8 0.6 3 Lake Bonney2 Wind Farm (Australia, 57.4), BraemarPowerStation (Australia, 141.6), Lake Bonney1 Wind

Farm Co (Australia, 17.9)

40 Aozora Bank 207.6 0.5 1 eMobile Ltd (Japan, 207.6)

41 Krung Thai Bank 200.3 0.5 1 South East Asia EnergyCo Ltd (Laos, 200.3)

=41 Siam CityBank 200.3 0.5 1 South East Asia EnergyCo Ltd (Laos, 200.3)

=41 TMB Bank 200.3 0.5 1 South East Asia EnergyCo Ltd (Laos, 200.3)

44 Development Bankof Japan 181.1 0.5 3 Amagasaki no Mori Sports Center (Japan, 9.0), Kagoshima University (Japan, 15.5), USJ Co Ltd (Japan, 156.6)

45 Bankof China 178.9 0.5 1 Ocean Park (Hong Kong, 178.9)

46 ICICI Bank 176.9 0.5 2 Reliance Petroleum Ltd (India, 76.9), Cairn Energy India Pty Ltd (India, 100.0)

47 DnB NOR BANKASA 165.6 0.4 2 Hin Leong Trading [Pte] Ltd (Singapore, 85.6), Tangguh LNG TankerProject (Indonesia, 80.0)

48 Bankof Scotland 158.3 0.4 3 IsaacPlains Coal Mine (Australia, 24.0), CalEnergyGas [Australia] Ltd (Australia, 34.3), Cairn Energy India Pty

Ltd (India, 100.0)

49 KfW IPEXBank 157.4 0.4 2 Reliance Petroleum Ltd (India, 76.9), Changbin Wind Farm (Taiwan, 80.5)

50 Banca Intesa 149.2 0.4 2 Reliance Petroleum Ltd (India, 76.9), Millmerran PowerProject (Australia, 72.3)

51 Rashid Hussain 148.8 0.4 1 Titan Chemicals Corp Bhd (Malaysia, 148.8)

52 Barclays Capital 142.8 0.4 2 Dampier-BunburyGas Pipeline (Australia, 42.8), Cairn Energy India Pty Ltd (India, 100.0)

53 IDBI 135.7 0.4 1 Hazira Steel Plate Plant (India, 135.7)

54 Shinkin Central Bank 121.2 0.3 1 Diet Parliament Office Bldg (Japan, 121.2)

55 Credit Suisse 110.8 0.3 2 Integra Mining Ltd (Australia, 67.0), Mirant Asia-Pacific Ltd (Philippines, 43.8),

56 DZBank 109.4 0.3 2 Reliance Petroleum Ltd (India, 76.9), Keppel Seghers Tuas Waste-to- (Singapore, 32.5)

57 Woori Financial 100.0 0.3 1 Hanjin PacificCorp (South Korea, 100.0)

58 Natixis 81.3 0.2 2 Mirant Asia-Pacific Ltd (Philippines, 43.8), Apexindo Pratama Duta TbkPT (Indonesia, 37.5)

59 IKB Deutsche Industriebank 80.5 0.2 1 Changbin Wind Farm (Taiwan, 80.5)





Power 9,937.5

Oil & Gas 6,604.4



Telecommunications 1,868.2

Industry 1,331.3

Mining 817.5

Water& Sewerage 543.2

Agriculture & Forestry 210.1


Total 39,213.1


ASIA PACIFIC LOANS BYSECTOR

Australia 10,651.4

India 8,919.0

Japan 4,646.4

Philippines 3,696.0

South Korea 3,510.3

Malaysia 1,498.3

Singapore 1,469.5

Taiwan 1,404.1

China 1,017.7

Hong Kong 699.5

Indonesia 641.8

Laos 600.9

Thailand 271.8

New Zealand 140.5

Fiji 46.0

Total 39,213.1

Country Volume (US$m)

ASIA PACIFIC LOANS BY COUNTRY

60 DresdnerKleinwort 77.6 0.2 1 Dalrymple BayCoal Terminal Co (Australia, 77.6)

61 Banco de Oro Universal Bank 77.1 0.2 2 Mirant Asia-Pacific Ltd (Philippines, 43.8), Manila North Tollways Corp (Philippines. 33.4)

62 Bancof America 76.9 0.2 1 Reliance Petroleum Ltd (India, 76.9)

=62 Bankof Baroda 76.9 0.2 1 Reliance Petroleum Ltd (India, 76.9)

=62 BayernLB 76.9 0.2 1 Reliance Petroleum Ltd (India, 76.9)

=62 HSH Nordbank 76.9 0.2 1 Reliance Petroleum Ltd (India, 76.9)

=62 Mashreq Bank 76.9 0.2 1 Reliance Petroleum Ltd (India, 76.9)

67 Investec 75.3 0.2 5 Campus Living Macquarie (Australia, 13.9), IsaacPlains Coal Mine (Australia, 24.0), Wedgetail Exploration NL

(Australia, 3.4), GorodokPtyLtd (Australia, 15.1), Laverton Gold (Australia, 18.9)

68 Bankof Philippine Islands 43.8 0.1 1 Mirant Asia-Pacific Ltd (Philippines, 43.8)

69 MCCCapitalia 38.4 0.1 1 Danieli FarEast Co Ltd (Thailand, 19.2)

70 BankBukopin 16.9 0.0 1 Cahaya FajarKaltim (Indonesia, 16.9)

=70 Para Global Investindo 16.9 0.0 1 Cahaya FajarKaltim (Indonesia, 16.9)

Total 39,213.1 100.0 153




2006 League Tables

1 RBS 10,544.1 10.8 46 Equate Petrochemicals (Kuwait, 78.1), Aromatics Oman LLC (Oman, 75.0), Eiffarie s.a.s. (France, 1,397.3),

Brenda MorayFirth Field (United Kingdom, 295.0), Synergen (Ireland, 70.0), APRR (France, 429.9), SANEF

(France, 868.1), Ahafo Gold Project (Ghana, 25.0), IVPC6 (Italy, 124.2), Tejo Energia CCGT PowerPlant

(Portugal, 207.0), DerryBrien Wind Farm Project (Ireland, 30.5), Caens Hospital (France, 66.8), Renomar

(Spain, 54.5), IVPC4 (Italy, 228.0), IVPC2000 (Italy, 198.8), Al-Hidd IWPP(Bahrain, 200.7), Stirling Gateway

(United Kingdom, 191.0), Ricigliano Grottole Windfarm (Italy, 160.7), Quesos Forlasa SA (Spain, 18.8),

Hermes Airports Ltd (Cyprus, 198.1), Tasnee Ethane/Propane Plant (Saudi Arabia, 251.9), Plaza de Castilla

Interchange (Spain, 43.9), Nakilat Inc (Qatar, 133.8), Autobahn Tank& Rast Holding (Germany, 514.4), West

Lothian Prison Project (United Kingdom, 201.1), Argyll & Bute schools PFI (United Kingdom, 28.9), Madrid 407

Sociedad (Spain, 62.7), E18 Kristiansand-Grimstad (31.9), Themis (France, 129.4), Renomar (Spain, 141.7),

Lewisham Grouped Schools PFI (United Kingdom, 48.6), Peterborough Schools Project (United Kingdom,

56.1), Qalhat LNG (Oman, 98.3), RugeleyCoal Fired (United Kingdom, 152.0), Madrid Calle 30 (Spain, 72.4),

Universityof Wales Accomodation (United Kingdom, 67.2), Newcastle Airport Refinancing (United Kingdom,

363.8), London CityAirport (United Kingdom, 454.2), Cornwall Waste-to-EnergyPlant (United Kingdom,

191.3), NSIP [Holdings]Limited (United Kingdom, 42.0), Addiewell Prison Ltd (United Kingdom, 196.2),

Autovia del Erema (Spain, 73.5), Bridgend Corporation SA (Spain, 505.0), Tynagh EnergyLimited (Ireland,

239.6), FXEnergyPoland (Poland, 25.0), TrinergyWind Portfolio (Italy, 1,501.7)

2 SG 5,813.3 6.0 23 Equate Petrochemicals (Kuwait, 78.1), Aromatics Oman LLC (Oman, 75.0), Sonangol Sinopec International

(Angola, 107.7), Eiffarie s.a.s. (France, 1,397.3), WightlinkLtd (United Kingdom, 141.3), KMG Kashagan B.V.

(Kazakhstan, 266.7), APRR (France, 429.9), Ahafo Gold Project (Ghana, 25.0), Fujairah Independent Water

(United Arab Emirates, 500.0), Caens Hospital (France, 66.8), Renomar (Spain, 54.5), Hermes Airports Ltd

(Cyprus, 198.1), Energia Cartagena SRL (Spain, 77.2), Qatargas 3 (Qatar, 38.5), Tasnee Ethane/Propane Plant

(Saudi Arabia, 251.9), Nakilat Inc (Qatar, 133.8), Autobahn Tank& Rast Holding (Germany, 514.4), SOCAR-

ZabarMarshall Block (Azerbaijan, 87.5), SoharRefineryCo (Oman, 92.3), Renomar (Spain, 141.7), BonnyGas

Transport Ltd (Bermuda, 134.5), Maritza East III PowerCo (Bulgaria, 959.2), NSIP [Holdings]Limited (UK, 42.0)

3 BBVA 4,388.1 4.5 22 Equate Petrochemicals (Kuwait, 78.1), Eiffarie s.a.s. (France, 1,397.3), Metrocall SA (Spain, 32.5), Interbiak

(Spain, 703.4), APRR (France, 429.9), Engasa Eolica (Spain, 50.8), Acciona Eolica Castilla la Man (Spain, 26.8),

Renomar (Spain, 54.5), N25 Waterford Bypass Scheme (Ireland, 148.8), Nea Odos S.A. (Greece, 133.0), Plaza

de Castilla Interchange (Spain, 43.9), Grupo Enersis (Portugal, 253.1), E18 Kristiansand-Grimstad (Norway,

31.9), EHN Rosenthal GmbH (Germany, 60.8), Ibereolica Lubian SAU (Spain, 60.5), Renomar (Spain, 141.7),

Generg SA[Investimentos E] (Portugal, 7.6), Acciona Eolica Castilla la Man (Spain, 66.2), Metro Ligero Pozuelo

(Spain, 286.0), Azores SCUT Shadow Toll Road (Portugal, 159.3), NortheolicSierra Tineo S.L. (Spain, 187.0),

EUFER Renovables Ibericas 2004 (Spain, 35.0)

4 Calyon 4,035.0 4.1 29 Equate Petrochemicals (Kuwait, 78.1), Aquiris SA (Belgium, 342.5), Rabigh RefineryExpansion Co (Saudi

Arabia, 343.5), Aromatics Oman LLC (Oman, 75.0), Sonangol Sinopec International (Angola, 107.7), Ras Abu

Fontas Project (Qatar, 80.9), OPTIMEP4 (France, 161.6), Ahafo Gold Project (Ghana, 25.0), DerryBrien Wind

Farm Project (Ireland, 30.5), Acciona Eolica Castilla la Man (Spain, 26.8), Renomar (Spain, 54.5), Qatargas 3

(Qatar, 38.5), Pamplona-Lagrono Motorway (Spain, 205.1), SeaserSpA (Italy, 14.3), Tasnee Ethane/Propane

Plant (Saudi Arabia, 251.9), Vinci CarParks (France, 209.3), Nakilat Inc (Qatar, 133.8), EHN Rosenthal GmbH

(Germany, 60.8), Autostrada Wielkopolska SA (Poland, 316.8), SoharRefineryCo (Oman, 92.3), Renomar

(Spain, 141.7), Macquarie Motorways Group (United Kingdom, 486.2), AESBarqa SAOC(Oman, 319.3),

Operation Gcin amanzi (South Africa, 48.6), Qalhat LNG (Oman, 98.3), HydroOGK(Russian Fed, 42.9), Rugeley

Coal Fired (United Kingdom, 152.0), Acciona Eolica Castilla la Man (Spain, 66.2), Q-Chem[QatarPetro Phillips]

(Qatar, 30.9)

5 ABN AMRO 3,732.4 3.8 4 Equate Petrochemicals (Kuwait, 78.1), Caens Hospital (France, 66.8), Yanbu Petrochemical Complex (Saudi

Arabia, 3,500.0), SOCAR-ZabarMarshall Block (Azerbaijan, 87.5)

6 DresdnerKleinwort 3,145.1 3.2 5 Eiffarie s.a.s (France, 1,397.3), APRR (France, 429.9), Moto Service Station Business (United Kingdom, 576.1),

Macquarie Motorways Group (United Kingdom, 486.2), Stagecoach Group PLC-London Bus (UK, 255.5)


EMEA MANDATED LEAD ARRANGERS


7 Natixis 3,103.0 3.2 18 SanlucarSolar (Spain, 67.0), Equate Petrochemicals (Kuwait, 78.1), Aromatics Oman LLC (Oman, 75.0),

Sonangol Sinopec International (Angola, 107.7), Eiffarie s.a.s (France, 1,397.3), KomyAluminum Cyprus Ltd

(Cyprus, 75.0), OPTIMEP4 ( France, 161.6), APRR (France, 429.9), Quesos Forlasa SA (Spain, 18.8), La Lora II

Energia SL (Spain, 93.8), Newlincs Development Ltd (United Kingdom, 43.0), Agrupacion Eolica (France,

88.4), Mana Gold Mine (Burkina Faso, 20.0), Reims Tram System (France, 32.3), Enersis (France, 58.6),

Eurowatt Energias Renovables (France, 58.0), SanlucarSolar(Spain, 30.7), Parque Eolico La Boga (Spain, 267.7)

8 WestLB 2,724.5 2.8 16 Milenio SolarS.A. (Spain, 87.8), Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi

Arabia, 343.5), Lumwana Mining Company (Zambia, 63.7), Oriel Resources (Kazakhstan, 60.0), Sharq

Polyethylene Expansion (Saudi Arabia, 486.0), WightlinkLtd (United Kingdom, 141.3), IzmirAirport Int'l

Terminal (Turkey, 37.0), Hermes Airports Ltd (Cyprus, 198.1), Tasnee Ethane/Propane Plant (Saudi Arabia,

251.9), Autobahn Tank& Rast Holding (Germany, 514.4), Venice MOSE (Italy, 77.0), Marchwood PowerLtd

(United Kingdom, 94.2), SecondaryMarket (United Kingdom, 76.3), Luzentia SolarPV (Spain, 118.4), Andasol

2 S.A. (Spain, 96.9)

9 BNPParibas 2,588.5 2.7 23 Milenio SolarS.A. (Spain, 87.8), Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi

Arabia, 343.5), Sonangol Sinopec International (Angola, 107.7), KMG Kashagan B.V. (Kazakhstan, 266.7),

KomyAluminum Cyprus Ltd (Cyprus, 75.0), National Petrochem (Saudi Arabia, 74.3), Egypt Power (Egypt,

95.0), IVPC4 (Italy, 228.0), IVPC2000 (Italy, 198.8), Qatargas 3 (38.5), Nakilat Inc (Qatar, 133.8), Tranvia de

Parla Tramway (Spain, 87.6), Q7 Farshore Wind Farm (Netherlands, 161.2), SoharRefineryCo (Oman, 92.3),

Venice MOSE (Italy, 77.0), HydroOGK(Russian Fed, 42.9), BonnyGas Transport Ltd (Bermuda, 134.5), Sabadell

Police Station (Spain, 42.4),Q-Chem[QatarPetro Phillips] (Qatar, 30.9), CIRF (Italy, 69.7), Voreas Wind Farm

(Italy, 26.0), Andasol 2 S.A. (Spain, 96.9)

10 Mizuho Financial 2,574.7 2.6 13 Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi Arabia, 518.5), Aromatics Oman

LLC (Oman, 75.0), Sharq Polyethylene Expansion (Saudi Arabia, 486.0), WightlinkLtd (United Kingdom,

141.3), Al-Hidd IWPP(Bahrain, 200.7), Nakilat Inc (Qatar, 133.8), Moto Service Station Business (United

Kingdom, 520.9), SoharRefineryCo (Oman, 92.3), Qalhat LNG (Oman, 98.3), Oman Gas Co (Oman, 46.9),

RugeleyCoal Fired (United Kingdom, 152.0), Q-Chem [QatarPetro,Phillips] (Qatar, 30.9)

11 HSBC 2,534.3 2.6 15 Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5), Aromatics Oman

LLC (Oman, 75.0), Ras Abu Fontas Project (Qatar, 80.9), Egyptian FertiliserExpansion (Egypt, 85.7), SANEF

(France, 868.1), Morayshire Wind PowerProject (United Kingdom, 64.7), Sidi KrirGeneration Co Ltd (Egypt,

83.6), Qatargas 3 (Qatar, 38.5), Tasnee Ethane/Propane Plant (Saudi Arabia, 251.9), Nakilat Inc (Qatar, 133.8),

Heveil (France, 146.2), Majid Al Futtaim Group of Cos (Saudi Arabia, 150.0), Q-Chem [QatarPetro,Phillips]

(Qatar, 30.9), Bradford BSF Project (United Kingdom, 103.5)

12 Dexia 2,419.6 2.5 30 Milenio SolarS.A. (Spain, 87.8), Birmingham Schools PFI (United Kingdom, 78.6), Majadahonda Hospital

(Spain, 97.6), Eoliennes de Marne et Moselle (France, 39.9), Saint Germain en Laye CarPark (France, 8.6),

Norwich Schools PFI (United Kingdom, 75.1), M6 Motorway (Hungary, 23.4), Minatec (France, 22.2), Serreria

UTE (Spain, 24.5), Tilleroyes CenterCare (France, 25.7), Sistemas Medioambientales (Spain, 27.6), Oldham

Schools PFI (United Kingdom, 118.2), Vinci CarParks (France, 209.3), Nakilat Inc (Qatar, 133.8), ExeterPFI

schools project (United Kingdom, 23.6), Heveil (France, 146.2), SDCSD (France, 9.1), Q7 Farshore Wind Farm

(Netherlands, 161.2), Themis (France, 129.4), StraznyVrch Wind Mill Farm (Czech Republic, 10.9), Glasgow

ACADSProject (United Kingdom, 401.1), Sonitherm (France, 38.5), Dorset Street Lighting Scheme (United

Kingdom, 61.2), Vedene Waste to EnergyPlant (France, 24.9), La Magascona Photovoltaic (Spain, 112.3),

Horta & Sant Andreu Police (Spain, 24.6), Luzentia SolarPV (Spain, 118.4), Autovia Pinares (Spain, 36.2),

INSEPRestoration (France, 53.0), Andasol 2 S.A. (Spain, 96.9)

13 Barclays Capital 2,260.8 2.3 9 Egyptian FertiliserExpansion (Egypt, 85.7), SANEF (France, 868.1), Fujairah Independent Water (United Arab

Emirates, 500.0), Copenhagen Airports (Denmark, 409.3), Richfield Development (Ireland, 17.3), Tappaghan

Wind Farm (United Kingdom, 39.4), Nakilat Inc (Qatar, 133.8), Bristol BSF Project (United Kingdom, 113.1),

Marchwood PowerLtd (United Kingdom, 94.2)


EMEA MANDATED LEAD ARRANGERS CONTINUED


2006 League Tables

14 Santander Investment 2,254.1 2.3 20 Equate Petrochemicals (Kuwait, 78.1), Acciona Eolica Castilla la Man (Spain, 26.8), Renomar (Spain, 54.5),

Castelleon Airport (Spain, 41.1), Viastur (Spain, 50.2), N25 Waterford Bypass Scheme (Ireland, 148.8),

Vallecas Hospital (Spain, 144.9), Nea Odos S.A. (Greece, 133.0), Autovia del Turia (Spain, 58.8), EHN

Rosenthal GmbH (Germany, 60.8), Renomar (Spain, 141.7), Macquarie Motorways Group (United Kingdom,

486.2), Becosa Eolica La Valdibia SA (Spain, 14.3), Madrid Calle 30 (Spain, 72.4), Acciona Eolica Castilla la

Man (Spain, 66.2), Autovia del Erema (Spain, 73.5), La Magascona Photovoltaic (Spain, 122.6), Metro Ligero

Pozuelo (Spain, 286.0), Azores SCUT Shadow Toll Road (Portugal, 159.3), EUFER Renovables Ibericas 2004

(Spain, 35.0)

15 Citigroup 1,778.0 1.8 9 Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5), Sharq

Polyethylene Expansion (Saudi Arabia, 486.0), Egyptian FertiliserExpansion (Egypt, 85.7), KMG Kashagan B.V.

(Kazakhstan, 266.7), Qatargas 3 (Qatar, 38.5), Nakilat Inc (Qatar, 133.8), Unicem Project (Nigeria, 211.2),

BonnyGas Transport Ltd (Bermuda, 134.5)

16 Mitsubishi UFJ 1,681.2 1.7 13 Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5), Aromatics Oman

LLC (Oman, 75.0), Sharq Polyethylene Expansion (Saudi Arabia, 486.0), Ras Abu Fontas Project (Qatar, 80.9),

Morayshire Wind PowerProject (United Kingdom, 64.7), Englefield (United Kingdom, 120.3), Earlsburn

Windfarm (United Kingdom, 43.1), Qatargas 3 (Qatar, 38.5), Nakilat Inc (Qatar, 133.8), SoharRefineryCo

(Oman, 92.3), Marchwood PowerLtd (United Kingdom, 94.2), Q-Chem[QatarPetro,Phillips] (Qatar, 30.9)

17 Bankof Scotland 1,608.3 1.7 18 Fife Second School Scheme (United Kingdom, 90.1), Viastur (Spain, 50.2), Richfield Development (Ireland,

17.3), Camden Social Housing PFI (United Kingdom, 83.7), Autovia del Turia (Spain, 58.8), Northfleet

Operations Centre (United Kingdom, 72.1), Parla Hospital (Spain, 55.0), Hexham General Hospital (United

Kingdom, 45.6), Henares Hospital (Spain, 104.7), Islington Housing Project (United Kingdom, 112.8), Bonny

Gas Transport Ltd (Bermuda, 134.5), Bow ValleyPetroleum[UK]Ltd (United Kingdom, 150.0), ManchesterNHS

LIFT Scheme (United Kingdom, 55.3), SecondaryMarket (United Kingdom, 152.4), Lancashire BSF Project

(United Kingdom, 148.5), ManchesterNHSLIFT Scheme (United Kingdom, 19.8), Project Echo (France, 87.0),

South Ayrshire Schools PFI (United Kingdom, 170.3)

18 Banco Espirito Santo 1,597.4 1.6 15 Tejo Energia CCGT PowerPlant (Portugal, 207.0), Biocarburantes Castilla La Man (Spain, 46.6), Quesos Forlasa

SA (Spain, 18.8), AENOR (Portugal, 168.0), Grupo Enersis (Portugal, 253.1), SIRESP (Portugal, 28.8),

Macquarie Motorways Group (United Kingdom, 486.2), SMIF GSLNo 2 (United Kingdom, 59.2), Penamacor2

Windfarm (Portugal, 37.1), Penamacor3B Windfarm (Portugal, 39.7), Pebble Hydro (Portugal, 56.4),

SecondaryMarket (United Kingdom, 76.3), FCPorto (Portugal, 23.8), MAFOMEDESWindfarm (Portugal, 11.6),

Sabugal Windfarm (Portugal, 84.9)

19 Caixa Geral de Depositos 1,528.3 1.6 15 Tejo Energia CCGT PowerPlant (Portugal, 207.0), Parque Eolico da P.S. (Portugal, 164.2), Biomasas de Puente

Genil SL (Spain, 18.8), Viastur (Spain, 50.2), Quesos Forlasa SA (Spain, 18.8), AENOR (Portugal, 168.0),

Autovia del Turia (Spain, 58.8), Grupo Enersis (Portugal, 253.1), SIRESP (Portugal, 28.8), Enersis (France,

58.6), Eurowatt Energias Renovables (France, 58.0), Pebble Hydro (Portugal, 56.4), Windfarm Guijo I and

Guijo II (Spain, 59.2), Azores SCUT Shadow Toll Road (Portugal, 159.3), Global3 Combi, SL (Spain, 169.1)

20 Gulf International Bank 1,500.7 1.5 14 Al-Zamil Petrochemical Company (Saudi Arabia, 87.5), Equate Petrochemicals (Kuwait, 78.1), Rabigh Refinery

Expansion Co (Saudi Arabia, 343.5), Aromatics Oman LLC (Oman, 75.0), Ras Abu Fontas Project (Qatar, 80.9),

Al-Hidd IWPP(Bahrain, 200.7), Nakilat Inc (Qatar, 133.8), SoharRefineryCo (Oman, 92.3), Majid Al Futtaim

Group of Cos (Saudi Arabia, 150.0), Qalhat LNG (Oman, 98.3), EnergySpring LNG Carrier Ltd (Oman, 68.0),

Oman Gas Co (Oman, 46.9), Q-Chem[QatarPetro,Phillips] (Qatar, 30.9), STAR Cement Co [LLC] (United Arab

Emirates, 14.9)

21 SMBC 1,477.2 1.5 14 Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5), Slough Schools

PFI (United Kingdom, 98.1), Midlothian Schools Project (United Kingdom, 83.0), Egypt Power (Egypt, 95.0),

Sandwell PFI Housing Project (United Kingdom, 67.8), Al-Hidd IWPP(Bahrain, 200.7), Bristol NHSLIFT

Scheme (United Kingdom, 22.9), Qatargas 3 (Qatar, 38.5), Nakilat Inc (Qatar, 133.8), Bristol BSF Project

(United Kingdom, 113.1), BonnyGas Transport Ltd (Bermuda, 134.5), Maesteg PFISchools (United Kingdom,

37.4), Q-Chem[QatarPetro,Phillips] (Qatar, 30.9)




22 Standard Chartered 1,461.1 1.5 11 Equate Petrochemicals (Kuwait, 78.1), Aromatics Oman LLC (Oman, 75.0), Lumwana Mining Company

(Zambia, 63.7), Sonangol Sinopec International (Angola, 107.7), Fujairah Independent Water (United Arab

Emirates, 500.0), Al-Hidd IWPP(Bahrain, 200.7), Qatargas 3 (Qatar, 38.5), Nakilat Inc (Qatar, 133.8), Qalhat

LNG (Oman, 98.3), BonnyGas Transport Ltd (Bermuda, 134.6), Q-Chem[QatarPetro,Phillips] (Qatar, 30.9)

23 HSH Nordbank 1,407.5 1.5 19 Dean Energieanlangen GMBH (Germany, 9.4), Geosol Solarstromkraftwerke (Germany, 12.0), Windpark

Luebesse Suelteuelitz (Germany, 38.2), IPEM[Rubis et Cie] (Italy, 105.6), WindparkHermannsburg GMBH

(Germany, 34.4), WindparkGross Welle Holding (Germany, 77.8), GHF WindparkMuencheberg (Germany,

19.3), Momerstroff Wind Farm (France, 14.9), WIndparkOldenrode (Germany, 52.7), Societe d'Exploitation

Parc (France, 33.6), B+T Umwelt GmbH (Germany, 172.2), PacrEoilien de Col (France, 23.6), BonnyGas

Transport Ltd (Bermuda, 134.6), Wharrels Hill Windfarm (United Kingdom, 13.5), Ridgeside Investments Ltd

(France, 68.2), Ibersol Erste (Spain, 37.2), Infraserve Waste to Energy (Germany, 427.5), Windpark

JaenickendorferHeide (Germany, 88.9), Burg-Madel Prison Project (Germany, 43.7)

24 RBCCapital Markets 1,403.1 1.4 8 Birmingham Schools PFI (United Kingdom, 78.6), Copenhagen Airports (Denmark, 409.3), Project Alpha

(United Kingdom, 128.7), Madrid 407 Sociedad (Spain, 62.7), Lewisham Grouped Schools PFI (United

Kingdom, 48.6), Pterborough Schools Project (United Kingdom, 56.1), Stagecoach Group PLC-London Bu

(United Kingdom, 255.5), Newcastle Airport Refinancing (United Kingdom, 363.8)

25 Caja Madrid 1,349.1 1.4 21 SanlucarSolar, S.A. (Spain, 67.0), Tejo Energia CCGT PowerPlant (Portugal, 207.0), C16 Eje Lobregat [Puig-

Berga] (Spain, 262.5), Acciona Eolica Castilla la Man (Spain, 26.8), Renomar (Spain, 54.5), Quesos Forlasa SA

(Spain, 18.8), Ecoparc2 Waste Treatment (Spain, 70.5), Plaza de Castilla Interchange (Spain, 43.9), Parque

Eolico La Carracha (Spain, 26.4), Parque Eolico Plana de Jarreta (Spain, 26.3), Hospital del Sureste (Spain,

92.9), EHN Rosenthal GmbH (Germany, 60.8), Renomar (Spain, 141.7), Becosa Eolica La Valdibia SA (Spain,

14.3), Tirme (Spain, 25.2), Generg SA[Investimentos E] (Portugal, 7.6), Acciona Eolica Castilla la Man (Spain,

66.2), SanlucarSolar, S.A. (Spain, 30.7), Autovia Pinares (Spain, 36.2), Ecoparc1 (Spain, 58.6), Explotaciones

Hidricas del Cin (Spain, 11.4)

26 Depfa 1,167.8 1.2 10 Acque SpA (Italy, 324.8), Gateshead Council Schools Proj (United Kingdom, 45.4), Rochdale Schools Project

(United Kingdom, 89.1), E18 Kristiansand-Grimstad (Norway, 31.8), Latina WaterProject (Italy, 44.5),

Northwood MoD PFIAccommodatio (United Kingdom, 370.9), Minimetro Perugia (Italy, 11.3), Sabadell Police

Station (Spain, 42.4), Angus Council Schools Project (United Kingdom, 104.3), Bradford BSF Project (United

Kingdom, 103.5)

27 Caixa d'Estalvis yPensions 1,135.7 1.2 2 SANEF (France, 868.1), Parque Eolico La Boga (Spain, 267.7)

28 Arab Petroleum Investment 1,099.2 1.1 6 Equate Petrochemicals (Kuwait, 78.1), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5), Aromatics Oman

LLC (Oman, 75.0), Sharq Polyethylene Expansion (Saudi Arabia, 486.0), Egyptian FertiliserExpansion (Egypt,


29 ING 1,062.1 1.1 10 Equate Petrochemicals (Kuwait, 78.1), Majadahonda Hospital (Spain, 97.6), Sonangol Sinopec International

(Angola, 107.7), Project Alpha (United Kingdom, 128.7), Hermes Airports Ltd (Cyprus, 198.1), Qalhat LNG

(Oman, 98.3), RugeleyCoal Fired (United Kingdom, 152.0), BonnyGas Transport Ltd (Bermuda, 134.5), Q-

Chem[QatarPetro,Phillips] (Qatar, 30.9), Autovia Pinares (Spain, 36.2)

30 JPMorgan 1,001.8 1.0 2 SANEF (France, 868.1), Nakilat Inc (Qatar, 133.8)

31 Lloyds TSB 952.6 1.0 3 Kent Rail Depots (United Kingdom, 228.0), PFISeniorFunding Refinancing (United Kingdom, 536.4),

AESDraxHoldings Ltd (United Kingdom, 188.2)

32 UniCredit Group 843.7 0.9 10 SibenikWind Farm (Croatia, 16.7), Thermaiki Odos (Greece, 204.7), Oriel Resources (Kazakhstan, 60.0),

Earlsburn Windfarm (United Kingdom, 43.1), Viridis I Limited EnergyNorge (United Kingdom, 61.8), Labe

PapirPaperMill (Czech Republic, 176.5), Parque Eolico La Carracha (Spain, 26.4), Parque Eolico Plana de

Jarreta (Spain, 26.3), RugeleyCoal Fired (United Kingdom, 152.0), SecondaryMarket (United Kingdom, 76.3)

33 IKB Deutsche Industriebank 818.1 0.8 4 NETCO 3G GMBH (Austria, 355.6), STEAG-EVN Walsum 10 (Germany, 260.7), First Solar (Germany, 129.5),

TETRON (Austria, 72.4)

34 Ahorro Corporacion Financiera 757.8 0.8 4 Majadahonda Hospital (Spain, 97.6), Pamplona - Lagrono Motorway (Spain, 205.1), Metro Ligero Pozuelo

(Spain, 286.0), Global3 Combi, SL (Spain, 169.1)

35 Banque Al Saudi Al Fransi 757.2 0.8 4 Al-Zamil Petrochemical Company (Saudi Arabia, 87.5), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5),

National Petrochem (Saudi Arabia 74.3), Tasnee Ethane/Propane Plant (Saudi Arabia, 251.9)




2006 League Tables

36 Banco Comercial Portugues 717.4 0.7 6 Thermaiki Odos (Greece, 204.7), Parque Eolico da Guarda (Portugal, 6.5), AENOR (Portugal, 168.0), Grupo

Enersis (Portugal, 253.1), SIRESP (Portugal, 28.8), Pebble Hydro (Portugal, 56.4)

37 KBCBancassurance 713.3 0.7 4 Sonangol Sinopec International (Angola, 107.7), AESFifoots Point[AESCorp] (United Kingdom, 46.0), Tynagh

EnergyLimited (Ireland, 239.6), Basell Orlen Polyolefins sp zo (Poland, 320.0)

38 Bilbao Bizkaia Kutxa 703.3 0.7 1 Interbiak (Spain, 703.4)

39 Saudi British Bank 682.9 0.7 3 Al-Zamil Petrochemical Company (Saudi Arabia, 87.5), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5),

Tasnee Ethane/Propane Plant (Saudi Arabia, 251.9)

40 Fortis 599.7 0.6 7 Equate Petrochemicals (Kuwait, 78.1), Lumwana Mining Company (Zambia, 55.3), Nea Odos S.A. (Greece,

133.0), Nakilat Inc (Qatar, 133.8), HydroOGK(Russian Fed, 74.6), Marchwood PowerLtd (United Kingdom,


41 Credit Suisse 587.9 0.6 2 Nakilat Inc (Qatar, 133.8), London CityAirport Ltd (United Kingdom, 454.2)

42 NordLB 580.2 0.6 11 North Pickenham Windfarm (United Kingdom, 27.6), Windfarm Unseburg (Germany, 28.2), North Ayrshire

Schools Project (United Kingdom, 151.7), Windfarm Hakenstedt II (Germany, 30.4), Windfarm Wilsickow II

(Germany, 18.4), Wiltshire Caring Homes (United Kingdom, 8.1), Bindoo Windfarm (Ireland, 77.9), East

Ayrshire Schools Project (United Kingdom, 160.7), Tournafulla Windfarm Phase 1 (Ireland, 16.0), Bin

Mountain Windfarm (United Kingdom, 17.5), Burg-Madel Prison Project (Germany, 43.7)

43 KfW IPEXBank 576.5 0.6 4 Equate Petrochemicals (Kuwait, 78.1), IzmirAirport Int'l Terminal (Turkey, 37.0), Al-Hidd IWPP(Bahrain,

200.7), STEAG-EVN Walsum 10 (Germany, 260.7)

44 Saudi Hollandi Bank 505.3 0.5 3 Al-Zamil Petrochemical Company (Saudi Arabia, 87.5), Rabigh RefineryExpansion Co (Saudi Arabia, 343.5),

National Petrochem (Saudi Arabia, 74.3)

45 Banque Misr 484.7 0.5 3 Egyptian FertiliserExpansion (Egypt, 85.7), Mopco FertiliserPlant (Egypt, 254.0), Egyptian LinearAlkyl

Benzene (Egypt, 145.0)

46 Nordea 476.6 0.5 4 Labe PapirPaperMill (Czech Republic, 176.5), Nakilat Inc (Qatar, 133.8), E18 Kristiansand-Grimstad (Norway,

31.9), BonnyGas Transport Ltd (Bermuda, 134.5)

47 Banco de Sabadell 473.1 0.5 7 Milenio SolarS.A. (Spain, 87.8), Renomar (Spain, 54.5), Quesos Forlasa SA (Spain, 18.8), Renomar (Spain,

141.7), Becosa Eolica La Valdibia SA (Spain, 14.3), Windfarm Guijo I and Guijo II (Spain, 59.2), Andasol 2 S.A.

(Spain, 96.9)

48 Arab Banking Corporation 448.6 0.5 5 Al-Zamil Petrochemical Company (Saudi Arabia, 87.5), Equate Petrochemicals (Kuwait, 78.1), Aromatics Oman

LLC(Oman 75.0), National Petrochem (Saudi Arabia, 74.3), Nakilat Inc (Saudi Arabia, 133.8)

49 Investec 442.7 0.5 3 Neotel (South Africa, 143.3), Trans African Concessions (South Africa, 237.3), Richards BayCoal Terminal

(South Africa, 62.1)

50 MCCCapitalia 399.2 0.4 8 Calabria WaterSystem (Italy, 144.5), GestiparkGiulio Cesare Srl (Italy, 13.2), SeaserSpA (Italy, 14.3), Cinecitta

Centro Commerciale (Italy, 37.0), CIRF (Italy, 69.7), Longano Eolica SpA (Italy, 13.3), ERG CESA Eolica (Italy,

72.1), EUFER Renovables Ibericas 2004 (Spain, 35.0)

51 Standard Bank 375.5 0.4 3 Lumwana Mining Company (Zambia, 63.7), Trans African Concessions (South Africa, 237.3), HydroOGK

(Russian Fed, 74.6)

52 QatarNational Bank 362.1 0.4 5 Equate Petrochemicals (Kuwait, 78.1), Ras Abu Fontas Project (Qatar, 80.9), Qatargas 3 (Qatar, 38.5), Nakilat

Inc (Qatar, 133.8), Q-Chem[QatarPetro,Phillips] (Qatar, 30.9)

53 Credit Mutuel 355.5 0.4 2 Vinci CarParks (France, 209.3), Heveil (France, 146.2)

54 BankAl Bilad 343.5 0.4 1 Rabigh RefineryExpansion Co (Saudi Arabia, 343.5)

=54 IslamicDevelopment Bank 343.5 0.4 1 Rabigh RefineryExpansion Co (Saudi Arabia, 343.5)

=54 Riyadh Bank 343.5 0.4 1 Rabigh RefineryExpansion Co (Saudi Arabia, 343.5)

=54 Sumitomo Trust & Banking 343.5 0.4 1 Rabigh RefineryExpansion Co (Saudi Arabia, 343.5)

58 Consolidated Eurofinance 337.6 0.4 2 Thermaiki Odos (Greece, 204.7), Nea Odos S.A. (Greece, 133.0)

59 Saudi American Bank 326.2 0.3 2 National Petrochem (Saudi Arabia, 74.3), Tasnee Ethane/Propane Plant (Saudi Arabia, 251.9)

60 Commercial Bankof Qatar 284.0 0.3 4 Ras Abu Fontas Project (Qatar, 80.9), Qatargas 3 (Qatar, 38.5), Nakilat Inc (Qatar, 133.8), Q-Chem[Qatar

Petro,Phillips] (Qatar, 30.9)

61 Arab Bank 283.8 0.3 4 Equate Petrochemicals (Kuwait, 78.1), Aromatics Oman LLC (Oman, 75.0), Qatargas 3 (Qatar, 38.5), Sohar

RefineryCo (Oman, 92.3)

62 DZBank 280.6 0.3 4 Equate Petrochemicals (Kuwait, 78.1), IzmirAirport Int'l Terminal (Turkey, 37.0), BonnyGas Transport Ltd

(Bermuda, 134.5), Q-Chem[QatarPetro,Phillips] (Qatar, 30.9)




63 NIB Capital NV 267.0 0.3 3 Bangorand CumberPFISchools (United Kingdom, 72.0), BonnyGas Transport Ltd (Bermuda, 134.5), Central

Berkshire WTE Plant (United Kingdom, 60.5)

64 LandesbankHessen-Thueringen 260.7 0.3 1 STEAG-EVN Walsum 10 (Germany, 260.7)

65 Banca Intesa 260.4 0.3 4 Equate Petrochemicals (Kuwait, 78.1), SeaserSpA (Italy, 14.3), Qalhat LNG (Oman, 98.3), CIRF (Italy, 69.7)

66 Dubai IslamicBank 250.0 0.3 1 Jebel Ali Refinery (United Arab Emirates, 250.0)

=66 Emirates Bank International 250.0 0.3 1 Jebel Ali Refinery (United Arab Emirates, 250.0)

68 National Bankof Egypt 228.6 0.2 2 Sidi KrirGeneration Co Ltd (Egypt, 83.6), Egyptian LinearAlkyl Benzene (Egypt, 145.0)

69 BayernLB 216.7 0.2 3 Equate Petrochemicals (Kuwait, 78.1), Sonangol Sinopec International (Angola, 107.7), Q-Chem [Qatar


70 Allied Irish Banks 215.0 0.2 3 Barnet & Enfield Street Lights (United Kingdom, 84.7), Bioverda (Ireland, 36.1), Marchwood PowerLtd

(United Kingdom, 94.2)

71 DnB NOR BANKASA 203.1 0.2 3 Qatargas 3 (Qatar, 38.5), Nakilat Inc (Qatar, 133.8), Q-Chem [QatarPetro,Phillips] (Qatar, 30.9)

72 BankMuscat Al Ahli Al Omani 189.9 0.2 3 Aromatics Oman LLC (Oman, 75.0), EnergySpring LNG Carrier Ltd (Oman, 68.0), Oman Gas Co (Oman, 46.9)

73 Export Development Corp of CA 164.3 0.2 3 Equate Petrochemicals (Kuwait, 78.1), Lumwana Mining Company (Zambia, 55.3), Q-Chem [Qatar


74 Rabobank 161.2 0.2 1 Q7 Farshore Wind Farm (Netherlands, 161.2)

75 LandesbankBaden-Wurttemberg 152.4 0.2 1 RZR IIWaste to Energy(Germany, 152.4)

76 CBA 152.0 0.2 1 RugeleyCoal Fired (United Kingdom, 152.0)

77 NedcorBank 143.3 0.2 1 Neotel (South Africa, 143.4)

78 Banco de Valencia 141.7 0.2 1 Renomar (Spain, 141.7)

79 Goldman Sachs 133.8 0.1 1 Nakilat Inc (Qatar, 133.8)

=79 Lehman Brothers 133.8 0.1 1 Nakilat Inc (Qatar, 133.8)

=79 Morgan Stanley 133.8 0.1 1 Nakilat Inc (Qatar, 133.8)

82 NAB 117.7 0.1 2 Viridis I Limited EnergyNorge (United Kingdom, 61.8), Bio EnergyUK(United Kingdom, 55.9)

83 Agricultural Bankof China 107.7 0.1 1 Sonangol Sinopec International (Angola, 107.7)

=83 Bankof China 107.7 0.1 1 Sonangol Sinopec International (Angola, 107.7)

=83 China Construction Bank 107.7 0.1 1 Sonangol Sinopec International (Angola, 107.7)

=83 China Development Bank 107.7 0.1 1 Sonangol Sinopec International (Angola, 107.7)

=83 Export Import Bankof ROC 107.7 0.1 1 Sonangol Sinopec International (Angola, 107.7)

88 Caja de Castilla la Mancha 106.5 0.1 2 Quesos Forlasa SA (Spain, 18.8), Tranvia de Parla Tramway (Spain, 87.6)

89 Bankof Ireland 106.2 0.1 2 Garrett Anderson Hospital (United Kingdom, 79.0), Rivendell Leisure Limited (United Kingdom, 27.2)

90 ANZ 99.3 0.1 2 Bio EnergyUK(United Kingdom, 99.3)

91 Banca IMI 92.4 0.1 2 Equate Petrochemicals (Kuwait, 78.1), SeaserSpA (Italy, 14.3)

92 Abu Dhabi Commercial Bank 89.1 0.1 2 National Petrochem (Saudi Arabia, 74.3), STAR Cement Co [LLC] (United Arab Emirates, 14.9)

93 BankAl-Jazira 87.5 0.1 1 Al-Zamil Petrochemical Company (Saudi Arabia, 87.5)

94 Arab African International Bk 85.7 0.1 1 Egyptian FertiliserExpansion (Egypt, 85.7)

=94 Continental International Bank 85.7 0.1 1 Egyptian FertiliserExpansion (Egypt, 85.7)

96 Commercial Intl Bank (Egypt) 83.6 0.1 1 Sidi KrirGeneration Co Ltd (Egypt, 83.6)

97 Banco Portugues de Invest SGPS 82.8 0.1 3 Quesos Forlasa SA (Spain, 18.8), Pebble Hydro (Portugal, 56.4), Generg SA[Investimentos E] (Portugal, 7.6)

98 Commercial Bankof Kuwait 78.1 0.1 1 Equate Petrochemicals (Kuwait, 78.1)

98 Hypo-bank 78.1 0.1 1 Equate Petrochemicals (Kuwait, 78.1)

98 Korea Development Bank 78.1 0.1 1 Equate Petrochemicals (Kuwait, 78.1)

98 Mashreq Bank 78.1 0.1 1 Equate Petrochemicals (Kuwait, 78.1)

98 National Bankof Greece 75.0 0.1 1 Aromatics Oman LLC (Oman, 75.0)

=98 Oman Arab BankSAO 75.0 0.1 1 Aromatics Oman LLC (Oman, 75.0)

104 National Commerical Bank 74.3 0.1 1 National Petrochem (Saudi Arabia, 74.3)

105 Investkredit Bank 72.4 0.1 1 TETRON (Austria, 72.4)

106 Banco PopularEspanol 62.3 0.1 1 Hospital del Tajo (Spain, 62.3)

107 CaterpillarFinancial Services 55.3 0.1 1 Lumwana Mining Company (Zambia, 55.3)

108 National Bankof Oman 46.9 0.1 1 Oman Gas Co (Oman 46.9)

=108 Oman International BankSAOG 46.9 0.1 1 Oman Gas Co (Oman 46.9)




2006 League Tables


Power 26,594.3



Oil & Gas 8,327.9

Water& Sewerage 2,827.8

Industry 1,535.7

Telecommunications 934.6

Mining 814.3


Total 97,383.9


EMEA LOANS BYSECTOR

France 16,128.6

Saudi Arabia 15,305.0

United Kingdom 14,783.6

Spain 11,034.8

Qatar 4,720.5

Germany 3,990.9

Italy 3,852.7

Portugal 3,553.4

Oman 3,148.2

Kuwait 2,500.0

United Arab Emirates 2,104.0

Nigeria 1,691.2

Egypt 1,584.7

Angola 1,400.0

Bahrain 1,204.0

Greece 1,145.8

Republicof Ireland 1,072.4

Bulgaria 959.2

Cyprus 942.5

Kazakhstan 920.0

South Africa 871.9

Denmark 818.7

Poland 661.9

Austria 500.3

Netherlands 483.6

Czech Republic 363.9

Zambia 356.8

Belgium 342.6

Russian Federation 235.1

Azerbaijan 175.0

Turkey 148.0

Norway 127.4

Ghana 125.0

Mauritania 42.5

Armenia 30.0

Hungary 23.4

Burkina Faso 20.0

Croatia 16.7

Total 97,383.9

Country Volume (US$m) Country Volume (US$m)

EMEA LOANS BY COUNTRY

110 Deutsche Bank 46.0 0.1 1 AESFifoots Point[AESCorp] (United Kingdom, 46.0)

111 Hessesische LandesbankGiro 45.3 0.1 1 Gateshead Council Schools Proj (United Kingdom, 45.4)

112 Commerzbank 43.7 0.0 1 Burg-Madel Prison Project (Germany, 43.7)

113 Macquarie Bank 42.5 0.0 1 Tasiast Gold Mines (Mauritania, 42.5)

114 Bankof Bahrain & Kuwait 38.5 0.0 1 Qatargas 3 (Qatar, 38.5)

115 Turkiye VakiflarBankasi TAO 37.0 0.0 1 IzmirAirport Int'l Terminal (Turkey, 37.0)

116 DEG-Deutsche Finanz 30.0 0.0 1 Zvartnots Airprt PassngrTerm. (Armenia, 30.0)

117 Banco Portugues de Negocios 28.8 0.0 1 SIRESP (Portugal, 28.8)

118 Bankof Nova Scotia 25.0 0.0 1 Ahafo Gold Project (Ghana, 25.0)

=118 Rothschild 25.0 0.0 1 Ahafo Gold Project (Ghana, 25.0)

120 Caixa d'Estalvis de Catalunya 18.8 0.0 1 Quesos Forlasa SA (Spain, 18.8)

121 Ahli United Bank 14.9 0.0 1 STAR Cement Co [LLC] (United Arab Emirates, 14.9)

=121 British Arab Commercial Bank 14.9 0.0 1 STAR Cement Co [LLC] (United Arab Emirates, 14.9)

=121 First Gulf Bank 14.9 0.0 1 STAR Cement Co [LLC] (United Arab Emirates, 14.9)

=121 National Bankof Abu Dhabi 14.9 0.0 1 STAR Cement Co [LLC] (United Arab Emirates, 14.9)

=121 United Arab Bank 14.9 0.0 1 STAR Cement Co [LLC] (United Arab Emirates, 14.9)

Total 97,383.9 100.0 272




1 Credit Suisse 6 4,155 Southern StarCentral Gas Pipeline (US, 430), Rentech (US, 50), Sabine Pass LNG (US, 2000), Mirant Trinidad

Investments (Trinidad, Power, US$100m), OPTI Canada (Canada, 1000), Nakilat (Qatar, 575)

2 Citigroup 5 2,989 Allenby (UK, 1499), Cerro Verde (Peru, 90), Alinda Roads (US, 496), Canadian Natural Resources (Canada,

700), DBNGP(Australia, 204)

3 Deutsche 4 2,778 Barts (UK, 943), Melbourne Convention Centre (Australia, 393), Ostregion (Austria, 1284), Essen Proton

(Germany, 158)

4 Lehman Brothers 4 1,880 Southern StarCentral Gas Pipeline (US, 430), USShipping (US, 100), Nakilat (Qatar, 575), Rasgas 2&3 (Qatar, 775)

5 HSBC 2 1,860 Allenby (UK, 1499), Toluca Toll Road (Mexico, 361)

6 Goldman Sachs 3 1,784 WindsorFinancing (US, 321), SyndeyAirport refi (Australia, 688), Rasgas 2&3 (Qatar, 775)

7 Royal Bankof Scotland 3 1,709 Birmingham Hospital (UK, 1200), Arsenal FCrefi (UK, infra, 256), DBCT (Australia, 253)

8 Barclays Capital 4 1,392 InspirED Education (UK, 652), NewHospitals (UK, 280), DBNGP(Australia, 204), Arsenal FCrefi (UK, 256)

9 Morgan Stanley 3 1,319 Barts (UK, 943), Santo Domingo Toll Road (Dominican Republic, 163), Concessionaria IIRSA Norte (Peru, 213)

10 CBA 4 1,080 Perth Airport (Australia, 133), Rock& Rubble (Australia, 590), Newcastle MaterHospital (Australia, 104), DBCT

(Australia, 253)

11 BNPParibas 3 985 Bison Wind (US, 206), Energia Azteca VIII (Mexico, 179), Rio Polimeros (Brazil, 600)

12 Royal Bankof Canada 3 815 Catalyst Universityof Sheffied (UK, 290), Highlands schools (UK, 297), HighwayManagement (UK, 228)

13 JPMorgan 1 700 Canadian Natural Resources (Canada, 700)

14 Macquarie 1 688 SydneyAirport (Australia, 688)

15 HVB 1 593 Breeze Two (Germany, 593)

16 Bankof Scotland 2 575 Swindon hospital refi (UK, 315), Limerick road (Ireland, 260)

17 Dexia 1 561 M6 refi (Hungary, 561)

18 Westpac 3 535 Perth Airport (Australia, 133), Brisbane Airport (Australia, 298), Newcastle MaterHospital (Australia, 104)

19 ABN Amro 6 492 Access Roads Edmonton (Canada, 136), PCH (Brazil, 83), NSW Schools project 2 (Australia, 94),

Energia Azteca (Mexico, 179)

20 Calyon 2 449 WindsorFinancing (US, 321), Wygen Funding (US, 128)

21 Dresdner 2 413 NewHospital (UK, 280), Alte Libe (Germany, 133)

22 BBVA 1 361 Toluca Toll Road (Mexico, 361)

23 Aseambankers 1 260 Segari EnergyVentures (Malaysia, 260)

24 ANZ 1 104 Adelaide airport (Australia, 104)

25 ING 1 100 Ajman (UAE, 100)

26 CIMB 1 96 Penang Bridge Extension (Malaysia, 96)

Total 28,673

Lead manager No ofdeals Volume (U$Sm) Deals

NON RECOURSE PROJECT BONDS (EXCLUDES CORPORATES, SECURITISATION, CPS, MUNIS AND TAX EXEMPT BONDS)


2006 League Tables

Oil & Gas 9,074

Social infrastructure 8,574

Infrastructure 6,780

Power 2,453

Mining 680

Petrochemicals 600

Leisure & Property 512

Total 28,673


BONDS BYSECTOR

Ambac 10 6,052 DBNGP(Australia, 408), Allenby (UK,

1499), Barts (UK, 943), Highlands

schools (UK, 297), Alte Liebe

(Germany, 133), Golden Ears (Canada,

578), Ajman (UAE, 100), Ostregion

(Austria, 1284), Arsenal FCrefi (UK,

512), Brisbane Airport refi (Australia, 298)

MBIA 7 4,894 Allenby (UK, 1499), Toluca Toll road

(Mexico, 722), Swindon hospital refi

(UK, 315), Limerick road (Ireland, 260),

SydneyAirport refi (Australia, 1376),

Toluca (Mexico, 722)

FSA 9 3,439 NewHospital (UK, 560), Barts (UK,

943), Catalyst Universityof Sheffield

(UK, 290), HighwayManagement (UK,

228), M6 refi (Hungary, 561), Perth

Airport (Australia, 266), Melbourne

Convention centre (Australia, 393),

Newcastle Meterhospital (Australia,

104), NSW Schools 2 (Australia, 94)

XLCapital 6 3,144 InspirED Education (UK, 652), DBCT

(Australia, 506), Golden Ears (Canada,

578), Camino (Spain, 403), E18

(Norway, 509), Alinda (USA, 496)

FGIC 1 1,200 Birmingham Hospital (UK, 1200)

Total 18,729

No ofdeals Volume (US$m) Deals

GLOBAL MONOLINE UNDERWRITINGS

UK 8,938

USA 4,482

Australia 4,263

Qatar 2,700

Canada 2,536

Austria 1,284

Mexico 1,080

Germany 884

Brazil 683

Hungary 561

Malaysia 356

Peru 303

Ireland 260

Dominican Republic 163

Trinidad & Tobago 100

UAE 100

Total 28,673


BONDS BY COUNTRY


1 Ernst & Young 18 104 25 147 329

2 PwC 7 83 38 128 324

3 SBI Capital Markets 25 19 1 45 55

4 KPMG 1 13 29 43 93

5 HSBC 13 5 23 41 51

6 BNPParibas 28 3 5 36 61

7 Macquarie 0 0 23 23 23

8 Grant Thornton 0 18 4 22 43

9 Taylorde Jongh 10 7 1 18 40

10 Espirito Santo Investment 8 3 6 17 37

11 TASC 4 8 4 16 35

12 Citigroup 16 0 0 16 16

13 SG 1 4 11 16 16

14 Dexia 7 0 7 14 14

15 Royal Bankof Canada 11 0 0 11 11

16 ABN AMRO 8 0 2 10 17

17 Natixis 1 1 8 10 16

18 Project Financing 2 7 1 10 13

Solutions

19 International Advisory& 5 0 4 9 15

Finance

20 Royal Bankof Scotland 3 2 4 9 15

21 Calyon 9 0 0 9 9

22 ING 1 4 3 8 8

23 BankMuscat 5 2 0 7 7

24 Greengate 5 0 0 5 8

25 National Bankof Greece 0 3 1 4 11

26 Investec 2 0 2 4 4

27 Mizuho 1 1 0 2 5

28 ANZInvestment Bank 0 1 1 2 4

29 DEPFA 0 2 0 2 4

30 BBVA 1 1 0 2 3

31 Banca Intesa 1 1 0 2 2

32 SMBC 1 0 1 2 2

33 CorpacPartners 1 0 0 1 1

34 Lehman Brothers 1 0 0 1 1


Total 196 292 204 692(677)Key

1 - Privately owned sponsors

2 - Government or government owned sponsors

3 – Bidders in a competition

1 2 3 Total Overall

GLOBALADVISORY MANDATES WON IN 2006

1 SMBC 17,109

2 Ernst & Young 15,804

3 PwC 14,235

4 HSBC 9,687

5 SG 7,215

6 Citigroup 4,818

7 KPMG 4,317

8 Royal Bankof Canada 2,859

9 Investec 2,835

10 BNPParibas 2,517

11 Grant Thornton 2,383

12 Macquarie 2,175

13 BBVA 1,450

14 Deutsche 1,326

15 Espirito Santo International 945

16 Dexia 778

17 SBI Capital Markets 760

18 ING 727

19 TASC 555

20 Calyon 499

21 Natixis 395

22 Shinkin Central Bank 350

23 SNCLavalin Capital 320

24 CorpacPartners 310

25 Mizuho 273

26 NordLB 110

Advisor Volume (US$m)

GLOBALADVISORIES CLOSED


2006 League Tables

1 SBI Capital Markets 25 19 1 45 55

2 Ernst & Young 8 20 3 31 63

3 PwC 3 21 5 29 61

4 Macquarie 0 0 17 17 17

5 HSBC 3 0 3 6 7

6 KPMG 0 5 0 5 26


Finance

8 Citigroup 3 0 0 3 3

9 ANZInvestment Bank 0 1 1 2 4

10 SMBC 1 0 1 2 2

11 CorpacPartners 1 0 0 1 1

12 DEPFA 0 1 0 1 1



15 Mizuho 0 0 0 0 3

Total 47 67 32 146 (146)Key




1 2 3 Total Overall

ASIA PACIFIC ADVISORY MANDATES WON IN 2006

1 PwC 7 3,687 Long Bayhospital (2, 130), Railcorp rolling stock

(2, 1,882), NHDPphase 111 (2, 229), Panipat

expressway (2, 22), House of Representatives

(2, 956), Sendai Astronomical (2, 33), Mine City

prison (2, 435)

2 SMBC 2 3,009 Tangguh LNG (1, 2650), Universal Terminal (1, 359)

3 Ernst & Young 3 2,425 NSW schools (2, 97), NSBT (2, 2110), Indore and

Kondhall highways (3, 218)

4 SBI Capital 7 760 Lucknow road (3, 100), Thanjavur road (3, 87),

Markets Vadodara road (3, 274), JalandharAmristar road

(3, 52), Mumbai Manmad Kopargaon road (3, 22),

Ulundupet road (3, 166), Raipur road (3, 59)

5 Shinkin Central 1 350 House of Councillors Building (3, 350)

6 KPMG 1 340 Melbourne convention (2, 340)

7 CorpacPartners 1 310 Bluewaters Unit 1 (1, 310)

8 Mizuho 2 273 Tokyo Airport (1, 240), Sendai Astronomical (1, 33)

9 Citigroup 1 154 Gulf Cogen (1, 154)

10 Banca Intesa 1 80 Galoc (1, 80)

11 Macquarie 2 73 Gyeonggi school (3, 46), Ashyang school (3, 27)

Key




No of Volumedeals (US$m) Deals

ASIA PACIFIC ADVISORY MANDATES CLOSED IN 2006

1 Ernst & Young 3 15 0 18 30

2 PwC 1 13 1 15 33

3 ABN AMRO 8 0 2 10 10


5 KPMG 1 0 6 7 10

6 Dexia 7 0 0 7 7


8 HSBC 1 0 3 4 5


10 Citigroup 3 0 0 3 3

11 Espirito Santo Int. 1 0 2 3 3

12 ING 0 0 2 2 2

13 Mizuho 1 1 0 2 2



16 SG 1 0 0 1 1

Total 43 31 16 90 (102)Key – 1 - Privately owned sponsors



1 2 3 Total Overall

AMERICAS ADVISORY MANDATES WON IN 2006

1 HSBC 1 1,500 Sabine Pas refi (1, 1,500)

2 KPMG 2 1,107 TermoFortaleza (2, 225), Golden Ears (2, 882)

3 Citigroup 1 1,080 Canaport LNG (1, 1,080)

4 PwC 3 1,073 Golden Ears (3, 882), Carretera Irapuato (2, 70),

Carretera Queretaro (2, 121)

5 Ernst & Young 1 882 Golden Ears (3, 882)

6 Macquarie 2 405 Detroit Windsor refi (1, 55), Delphi (1, 350)

7 Dexia 2 330 Ilrsa Norte (1, 250), Marcel Laniado de Wind

Hydroplant (1, 80)

8 Deutsche 1 225 TermoFortaleza (1,225)

9 NordLB 1 110 Green EnergyLibramiento (1,110)

Key





AMERICAS ADVISORY MANDATES CLOSED IN 2006


1 Ernst & Young 7 69 22 98 236

2 PwC 3 49 32 84 230

3 KPMG 0 8 23 31 57


5 HSBC 9 5 17 31 39

6 Grant Thornton 0 18 4 22 43

7 TASC 4 8 4 16 35

8 SG 0 4 11 15 15

9 Espirito Santo Investment 7 3 4 14 34

10 Project Financing Solutions 2 7 1 10 13

11 Natixis 1 1 8 10 16

12 Citigroup 10 0 0 10 10



15 Calyon 9 0 0 9 9


17 BankMuscat 5 2 0 7 7

18 Dexia 0 0 7 7 7


Finance

21 ING 1 4 1 6 6

22 Macquarie 0 0 6 6 6

23 National Bankof Greece 0 3 1 4 11

24 Investec 2 0 2 4 4

25 BBVA 1 1 0 2 3



28 DEPFA 0 1 0 1 3

29 Lehman Brothers 1 0 0 1 1

30 ABN AMRO 0 0 0 0 7

Total 106 194 156 456 (433)Key




1 2 3 Total Overall

EMEA ADVISORY MANDATES WON IN 2006


2006 League Tables

1 SMBC 2 14,100 Petrorabigh (1, 9,800), Nakilat (1, 4,300)

2 Ernst & Young 22 12,497 Petrorabigh (1, 9800), Scoutmoorwind (1, 135), CHSF(2, 420), Central Berkshire waste (2, 72), Midlothian schools (2, 78), Stobhill hospital (2, 414),

Norfolkschools (2, 76), North Ayrshire schools (2, 182), South Ayrshire schools (2, 148), Peterborough schools (2, 99), Slough schools (2, 98), Salford

schools (2, 76), Ashton Lift (2, 30), North Staffs Lift (2, 30), Birmingham Lift (2, 74), Avon health refi (2, 124), Argyll & Bute 2 (2, 70), Lancashire BSF (2,

150), St Helens Lift (2, 32), Bradford Lift (2, 25), Chelmsford care (2, 26), GovPFI refi (2, 338)

3 PwC 34 9,475 Alert MoD refi (1, 115), Newcastle Airport refi (1, 570), Cyprus Airport (2, 650), Majadahonda hospital (2, 298), Allenby(2, 3,086), Schools refi (2, 78),

Univesityof Wales (2, 68), Rochdale schools (2, 88), BangorAcademy(2, 50), Stirling schools (2, 193), St Barts (2, 2,169) Birmingham hospital (2,

1,104), Swindon hospital refi (2, 160), Camden housing (2, 42), Oldham housing (2, 198), Sandwell housing (2, 77), Addiewell prison (2, 203), Enfield

street lighting (2, 40), Leeds street lighting (2, 212), Dorset street lighting (2, 58), Barnet street lighting (2, 84), Cornwall waste (2, 320), Northumberland

waste (2, 198), NIwastewater (2, 200), Prison Burg-Madel (3, 133). E18 (3, 568), Hospital Militar (3, 35), Argyll & Bute 2 (3, 70), South Ayrshire schools

(3, 148), Hull Life (3, 21), ManchesterLift (3, 78), LeicesterLift (3, 29), Wandsworth housing (3, 47), M1 (3, 85)

4 HSBC 9 8,187 CHSF(3, 420), RAFB2 (2, 647), Oman Aromatics (1, 1,570), Bristol BSF (3, 289), Caen hospital (3, 121), SEPC(1, 2,500), Fujairah (2, 1,490), Al Waha

(1, 1,000), A4 (1, 150)

5 SG 6 7,215 Equate (1, 2500), Fujairah (3, 1490), Gautrain (3, 1814), N25 (3, 293), SoharRefinery refi (1, 646), N4 (1, 472)

6 ABN AMRO 2 5,650 Cyprus Airport (1, 650), Yansab (1, 5,000)

7 Citigroup 3 3,584 Allenby(3, 3,086), Calabarcement (1, 428), Ringsend (1, 70)

8 KPMG 10 2,870 Wigan Lift (2, 85), Sandwell housing (3, 77), LeicesterLift (2, 38), M1 (2, 85), HolyCross school (2, 60), Pacos de Ferreira (2, 466), Bradford BSF(3, 210),

Northwood (2, 360), LimerickTunnel (2, 209), Ost (2, 1,280)

9 Royal Bank 8 2,859 Peterborough schools (3, 124), Lewisham schools (3, 108), Dalraida Water (3, 330), Gateshead schools (3, 226), Sheffield university (3, 323),

of Canada EDL(1, 113), Trinergy (1, 1446), ENER-G (1, 189)

10 Investec 2 2,835 St Barts (3, 2,169), St Helens (3, 666)

11 BNPParibas 3 2,517 Hidd (2, 1250), M6 Duna (1, 587), BGT (1 680)

12 Grant Thornton 19 2,383 Bridgend schools (2, 46), Bristol BSF (2, 289), East Ayrhsire schools (2, 143), Stirling schools (3, 193), Brentwood hospital (3, 48), Kent Police (2, 69),

Garrett Anderson health (3, 52), Liverpool Lift (2, 32), Highlands schools 2 (3, 258), Northampton residential (2, 53), Leeds street lighting (3, 212),

South Lanarkshire schools (2, 617), Lewisham schools (2, 108), Bradford Lift (2, 25), Hull Lift (2, 13), Sheffield Lift (2, 12), East Lancashire Lift (2, 31),

Lancashire BSF(3, 150), Arras hospital (2, 32)

13 Macquarie 6 1,697 Birmingham schools (3, 155), Barnet street lighting (3, 84), Wightlinkrefi (1, 225), M6 refi (1, 1,030), Swindon hospital refi (1, 160), St Helens Lift (3, 43)

14 BBVA 1 1,450 Ionia Odos (3, 1450)

15 Deutsche 3 1,101 Protone Therapy(3, 178), ErSol (1, 163), Bonaventura (3, 760)

16 Espirito Santo 3 945 N4 (2, 472), Aenor (1, 503), Neopistas (1, 22)

17 ING 2 727 Ajman wastewater (1, 140), M6 Duna (2, 587)

18 TASC 3 555 431 Highway(1, 350), Section 18 (1, 180), Swissport Israel (1, 25)

19 Calyon 2 499 Camfin/Archimede (1, 179), SKH (Algeria, 320)

20 Dexia 2 448 Q7 (1, 291), Themis prison (3, 157)

21 Natixis 1 395 Eiffage (3, 395)

22 SNCLavalin Cap 1 320 SKH (Algeria, 320)

Key





EMEA ADVISORY MANDATES CLOSED IN 2005

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