ISLAMIC CAPITAL MARKETS - Bloomberg Finance L.P. · 2018. 3. 26. · Bloomberg Prelim Islamic...

ISLAMIC CAPITAL MARKETS LEAGUE TABLES Q1 2018 PreliminaryAs of 26 March 2018

The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans, bonds, equity and M&A transactions; according to Bloomberg standards.

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Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.

MANAGER RANKINGS

ISLAMIC CAPITAL MARKETS

DATA SUBMISSIONS AND QUERIES

Americas

EMEA

Asia-Pacific

Contact Email Phone

Q1 2018 PRELIMINARY AS OF 26 MARCH 2018

© 2018 Bloomberg Finance L.P. All rights reserved.

Paul Bandong +1 609 279 5187 [email protected]

Sami Arafeh +971 4 4492349 [email protected]

Xin Yu Chen +65 6212 1123 [email protected]

http://www.bloomberg.com/

Bloomberg PrelimIslamicCapitalMarkets|Q12018

BloombergLeagueTableReports Page1

Sukuk&IslamicFinancing

Sukuk&IslamicFinancing

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

HSBC 1 10.521 2,161 12 2 11.911 -1.390

CIMB 2 10.109 2,076 34 4 9.404 0.705

Citi 3 8.331 1,711 6 15 1.499 6.832

StandardCharteredBank 4 7.980 1,639 9 1 12.043 -4.063

JPMorgan 5 5.406 1,110 4 15 1.499 3.907

DubaiIslamicBank 6 5.343 1,098 6 7 5.068 0.275

RHB 7 4.797 985 15 10 3.546 1.251

SumitomoMitsuiFinancial 8 4.485 921 2 22 0.420 4.065

Maybank 9 4.125 847 18 5 8.001 -3.876

CreditAgricoleCIB 10 3.724 765 1 - - 3.724

MitsubishiUFJFinancialGroupInc

10 3.724 765 1 21 0.798 2.926

BankofChina 10 3.724 765 1 31 0.121 3.603

Industrial&CommBankofChina

10 3.724 765 1 - - 3.724

MizuhoFinancial 10 3.724 765 1 22 0.420 3.304

AbuDhabiIslamicBank 15 3.213 660 3 19 0.910 2.303

AmInvestmentBankBhd 16 3.027 622 34 6 7.678 -4.651

SharjahIslamicBank 17 1.826 375 2 20 0.840 0.986

EmiratesNBDPJSC 18 1.557 320 4 13 2.612 -1.055

FirstAbuDhabiBankPJSC 19 1.534 315 3 3 11.177 -9.643

KenangaInvestmentBankBhd 20 1.244 255 7 - - 1.244

TOTAL 100% 20,541 78 100%

ThistableconsistsofIslamicfinancingandSukukissuances.Thisexcludesbondswithwarrants,credit-linkedsecurities,andstructurednotes.Thereisaminimumthresholdof12monthsformaturities,callorputperiods,andUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Government66%

Financials17%

Industrials6%

Others11%

Sukuk&IslamicFinancing:RankingsHistory

Sukuk&IslamicFinancing:IndustryBreakdown

66%

17%

6%

11%

HSBC

CIMB Ci

ti

StandardCharteredBank

JPMorgan

DubaiIslamicBank

5

10

MarketShare(%

)

0

15

2018 2017 2016



GlobalSukuk

GlobalSukuk

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CIMB 1 16.108 2,076 34 4 10.095 6.013

HSBC 2 10.830 1,396 11 2 12.785 -1.955


RHB 4 7.643 985 15 10 3.676 3.967

Citi 5 7.340 946 5 13 1.609 5.731

StandardCharteredBank 6 6.782 874 8 1 12.927 -6.145

Maybank 7 6.573 847 18 5 8.589 -2.016

AbuDhabiIslamicBank 8 5.120 660 3 - - 5.120



JPMorgan 11 2.679 345 3 13 1.609 1.070



KenangaInvestmentBankBhd

14 1.982 255 7 - - 1.982

KuwaitFinanceHouse 15 1.978 255 2 12 2.055 -0.077

BankABC 16 1.288 166 2 16 1.239 0.049

NoorBank 17 1.268 164 3 24 0.338 0.930


Natixis 18 1.212 156 1 - - 1.212

GulfInternationalBankBSC 18 1.212 156 1 - - 1.212

TOTAL 100% 12,891 77 100%

ThistableconsistsofgloballysyndicatedSukukissuances.Thisexcludesbondswithwarrantsandstructurednotes.Thereisaminimumthresholdof12monthsformaturities,callorputperiodsandUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Government48%

Financials27%

Industrials8%

Materials8%

Others9%

GlobalSukuk:ManagerRankingsHistory

GlobalSukuk:IndustryBreakdown

48%

27%

8%

8%

9%

CIMB

HSBC

DubaiIslamicBank

RHB Ci

ti


5

10

15

MarketShare(%

)

0

20

2018 2017 2016



InternationalSukuk

InternationalSukuk

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

HSBC 1 13.892 1,191 6 1 18.193 -4.301


Citi 3 11.035 946 5 10 2.290 8.745

CIMB 4 10.689 917 4 8 2.886 7.803




JPMorgan 8 4.028 345 3 10 2.290 1.738



KuwaitFinanceHouse 11 2.974 255 2 9 2.405 0.569

BankABC 12 1.936 166 2 13 1.763 0.173

NoorBank 13 1.907 164 3 21 0.481 1.426


Natixis 14 1.822 156 1 - - 1.822


NationalCommercialBank 17 1.516 130 1 - - 1.516

AlkhairInternationalIslamicBankBhd

18 0.729 63 1 - - 0.729

GoldmanSachs 18 0.729 63 1 - - 0.729

DeutscheBank 18 0.729 63 1 5 6.925 -6.196

TOTAL 100% 8,575 11 100%

ThistableconsistsofinternationalSukukissuances.Thisexcludesbondswithwarrants,domesticSukuk,credit-linkedsecuritiesandstructurednotes.Thereisaminimumthresholdof12monthsformaturities,callorputperiodsandUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Government61%

Financials32%

ConsumerDiscretionary7%

InternationalSukuk:ManagerRankingsHistory

InternationalSukuk:IndustryBreakdown

61%

32%

7%

HSBC

DubaiIslamicBank Ci

ti

CIMB


AbuDhabiIslamicBank

5

10

15

MarketShare(%

)

0

20

2018 2017 2016



USDollarInternationalSukuk

USDollarInternationalSukuk

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

HSBC 1 13.892 1,191 6 1 19.340 -5.448


Citi 3 11.035 946 5 10 2.435 8.600

CIMB 4 10.689 917 4 8 3.067 7.622




JPMorgan 8 4.028 345 3 10 2.435 1.593



KuwaitFinanceHouse 11 2.974 255 2 9 2.556 0.418

BankABC 12 1.936 166 2 12 1.875 0.061

NoorBank 13 1.907 164 3 20 0.511 1.396


Natixis 14 1.822 156 1 - - 1.822




18 0.729 63 1 - - 0.729

GoldmanSachs 18 0.729 63 1 - - 0.729

DeutscheBank 18 0.729 63 1 5 7.362 -6.633

TOTAL 100% 8,575 11 100%

ThistableconsistsofInternationalSukukissuancesdenominatedinUSD.Thisexcludesbondswithwarrants,DomesticSukuk,credit-linkedsecuritiesandstructurednotes.Thereisaminimumthresholdof18monthsformaturities,callorputperiodsandUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Government61%

Financials32%


USDollarInternationalSukuk:ManagerRankingsHistory

USDollarInternationalSukuk:IndustryBreakdown

61%

32%

7%

HSBC

DubaiIslamicBank Ci

ti

CIMB


AbuDhabiIslamicBank

5

10

15

MarketShare(%

)

0

20

2018 2017 2016



DomesticSukuk

DomesticSukuk

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CIMB 1 26.873 1,160 30 2 27.140 -0.267

RHB 2 22.829 985 15 4 12.367 10.462

Maybank 3 19.633 847 18 3 25.865 -6.232



5 5.919 255 7 - - 5.919

HSBC 6 4.746 205 5 - - 4.746

AffinHwangCapital 7 3.544 153 5 - - 3.544

MandiriSekuritasPT 8 0.463 20 7 9 0.132 0.331

IndoPremierSecurities 8 0.463 20 7 9 0.132 0.331

BahanaSecurities 10 0.298 13 4 - - 0.298

DanareksaSekuritasPT 10 0.298 13 4 - - 0.298

PublicBankBerhad 12 0.196 8 2 - - 0.196

TrimegahSecurities 13 0.165 7 3 9 0.132 0.033

DBSGroup 13 0.165 7 3 9 0.132 0.033

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 4,315 66 100%

ThistableconsistsofdomesticSukukissuances.Thisexcludesbondswithwarrants,reverseconvertibles,syntheticconvertiblesandstructurednotes.Thereisaminimumthresholdof12monthsformaturities,callorputperiodsandUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Government23%

Industrials22%

Materials22%

Financials19%

Utilities8%

Others6%

DomesticSukuk:ManagerRankingsHistory

DomesticSukuk:IndustryBreakdown

23%

22%

22%

19%

8%

6%

CIMB RH

B

Maybank

AmInvestmentBankBhd


HSBC

10

20

30

40

MarketShare(%

)

0

45

2018 2017 2016



GCCSukuk

GCCSukuk

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

StandardCharteredBank 1 17.818 677 6 3 10.750 7.068

DubaiIslamicBank 2 13.094 498 4 5 9.235 3.859

HSBC 3 11.449 435 3 1 11.255 0.194



KuwaitFinanceHouse 6 6.711 255 2 6 7.576 -0.865

Citi 7 5.001 190 2 7 7.215 -2.214

JPMorgan 8 4.869 185 2 7 7.215 -2.346


BankABC 10 3.290 125 1 9 5.556 -2.266

NoorBank 11 3.224 123 2 16 1.515 1.709


Nomura 13 1.645 63 1 - - 1.645


13 1.645 63 1 - - 1.645

GoldmanSachs 13 1.645 63 1 - - 1.645

DeutscheBank 13 1.645 63 1 - - 1.645


BNPParibas 17 1.579 60 1 - - 1.579

- - - - - - - -

- - - - - - - -

TOTAL 100% 3,799 6 100%

ThistableconsistsofSukukissuancesbyissuersfromBahrain,Kuwait,Oman,Qatar,SaudiArabiaandtheUnitedArabEmirates.Thisexcludesbondswithwarrantsandcredit-linkedsecurities.Thereisaminimumthresholdof18monthsformaturities,callorputperiodsandUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Financials58%

Government26%


GCCSukuk:ManagerRankingsHistory

GCCSukuk:IndustryBreakdown

58%26%

16%


DubaiIslamicBank

HSBC

SharjahIslamicBank

FirstAbuDhabiBankPJSC

KuwaitFinanceHouse

10

20

30

MarketShare(%

)

0

35

2018 2017 2016



MalaysianRinggitSukuk

MalaysianRinggitIslamicSukuk

Q12018 Q12017

Firm RankMkt

Share(%)Volume(MYR

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CIMB 1 31.127 6,335 61 2 27.914 3.213

Maybank 2 23.538 4,791 47 3 26.732 -3.194

RHB 3 22.409 4,561 47 4 10.655 11.754

AmInvestmentBankBhd 4 10.969 2,233 30 1 28.338 -17.369


5 4.914 1,000 7 - - 4.914

HSBC 6 3.931 800 5 - - 3.931

AffinHwangCapital 7 2.948 600 5 - - 2.948

PublicBankBerhad 8 0.165 34 2 - - 0.165

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 20,352 90 100%

ThistableconsistsofSukukissuancesdenominatedinMalaysianRinggit.Thisexcludesbondswithwarrants.Thereisaminimumthresholdof12monthsformaturities,callorputperiods,andUSD50MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Utilities26%

Materials19%

Industrials18%

Government17%

Financials16%

Others4%

MalaysianRinggitIslamicSukuk:ManagerRankingsHistory

MalaysianRinggitIslamicSukuk:IndustryBreakdown

26%

19%

18%

17%

16%

4%

CIMB

Maybank

RHB

AmInvestmentBankBhd


HSBC

10

20

30

40

MarketShare(%

)

0

50

2018 2017 2016



EMEAIslamicFinancing:Bookrunner

EMEAIslamicFinancing(Bookrunner)

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)



1 10.000 765 1 - - 10.000

BankofChina 1 10.000 765 1 - - 10.000


1 10.000 765 1 - - 10.000

JPMorgan 1 10.000 765 1 - - 10.000

HSBC 1 10.000 765 1 - - 10.000

SumitomoMitsuiFinancial 1 10.000 765 1 - - 10.000

Citi 1 10.000 765 1 - - 10.000

StandardCharteredBank 1 10.000 765 1 - - 10.000

MizuhoFinancial 1 10.000 765 1 - - 10.000

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 7,650 1 100%

ThistableconsistsofIslamicfinancingwithamarketofsyndicationintheEMEAregion.Thisexcludesbilateralloans.Thereisaminimumthresholdof3monthsformaturities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.

Government96%

Others4%

EMEAIslamicFinancing:BookrunnerRankingsHistory

EMEAIslamicFinancing:IndustryBreakdown

96%

4%

CreditAgricoleCIB


BankofChina


JPMorgan

HSBC

SumitomoMitsuiFinancial

Citi


MizuhoFinancial

5

10

MarketShare(%

)

0

15

2018 2017 2016



EMEAIslamicFinancing:MandatedLeadArranger

EMEAIslamicFinancing(MandatedLeadArranger)

Q12018 Q12017

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)



1 8.333 638 1 - - 8.333

BankofChina 1 8.333 638 1 - - 8.333


1 8.333 638 1 - - 8.333

JPMorgan 1 8.333 638 1 - - 8.333

HSBC 1 8.333 638 1 3 12.651 -4.318

GoldmanSachs 1 8.333 638 1 - - 8.333

SumitomoMitsuiFinancial 1 8.333 638 1 - - 8.333

Citi 1 8.333 638 1 - - 8.333

StandardCharteredBank 1 8.333 638 1 - - 8.333

BNPParibas 1 8.333 638 1 - - 8.333

MizuhoFinancial 1 8.333 638 1 - - 8.333

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 7,650 1 100%


Government96%

Others4%

EMEAIslamicFinancing:MandatedLeadArrangerRankingsHistory


96%

4%

CreditAgricoleCIB


BankofChina


JPMorgan

HSBC

GoldmanSachs

SumitomoMitsuiFinancial

Citi


BNPParibas

MizuhoFinancial

2

4

6

8

MarketShare(%

)

0

10

2018 2017 2016



EMEAIslamicFinancing:AdministrativeAgent

EMEAIslamicFinancing(AdministrativeAgent)

Q12018 Q12017

Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

MizuhoFinancial 1 95.925 7,650 1 - - 95.925

AbuDhabiIslamicBank 2 4.075 325 1 3 4.348 -0.273

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 7,975 2 100%


Government96%

Others4%

EMEAIslamicFinancing:AdministrativeAgentRankingsHistory


96%

4%

MizuhoFinancial

AbuDhabiIslamicBank

MarketShare(%

)

0

100

2018 2017 2016

Bloomberg – League Tables Criteria

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.

General Guidelines

Credit is based on the total amount of the offering sold to the public. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless full, explicit breakdown of bookrunning is provided by an involved party. Regional and local tables are identified based on factors such as currency, market of issuer and/or country of risk/incorporation.

Fixed Income

All transactions must have a maturity/call/put option of minimum 18 months. Make-whole call and provisional call/put are exempted from this rule. Note: Criteria may vary for some local and/or regional tables. USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche. Self-led transactions are included. New money portions of exchange offers are eligible for credit.

Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: Criteria may vary for some local and/or regional tables.

Equities-Linked

Equity-linked transactions: Convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/puttable in 12 months or longer are included. Make-whole call, provisional call and provisional put are exempted from this rule. Convertible bonds with attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond.

Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-IPO convertible instruments, certain lower hierarchy titles, i.e. Jr Bookrunner.

Equities

Equity market transactions: Initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings.

Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarchy titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional tables.

Bloomberg – League Tables Criteria

Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.

Loans

Includes executed syndicated loans transactions. Full credit is awarded to the banks satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers. Credit is allocated to amended or amended and restated transactions, where each modification is 100% at the lender’s option and not as a result of events already built into the original credit agreement. Credit is awarded for the following structural changes only: maturity extensions of three months or more, incremental basis for increased in deal size, reduction in pricing, full release of security.

Exclusions: Bilateral transactions, transactions with a maturity of less than three months, loans withdrawn prior to signing, amended or restated securitizations, receivable and guarantee facilities.

US Municipals

Standard published tables will award deal credit based on true economic credit as reported by the issuer or the bookrunner. In absence of reported economic credit, 100% will be assigned to the bookrunner.

Dollar value of credit will be assigned based on the percentage allocation reported for economic credit (or designated by the user in a custom table) and applied against the total par value of the bonds issued. Zero coupon bonds (CABS) or intermediate appreciation bonds (convertible CABs) will be included at the market value (accreted value) on the interest accrual date.

All debt issued by municipal issuers will be eligible for league credit. Taxable and tax-exempt debt is eligible for league credit unless a table includes specific tax type criteria. “Tax-exempt” is defined as federally tax-exempt and includes bonds subject to AMT and bonds designated as Bank Qualified.

Each table is provided in three formats. “Economic Credit” displays rankings based on true economic credit allocations of applicable deals. “Left Lead” assigns 100% credit to the bookrunner and 0% to all other syndicate participants. “Deal Count” displays rankings based on deal quantity rather than aggregate economic credit amounts. A “deal” refers to the aggregate series within an issuance led by a particular underwriter or syndicate. For example: a $50 million issuance is split into three series- a $10 million Series A, a $20 million Series B, and a $20 million Series C. Bank 1 is the underwriter of Series A & B, while Bank 2 is the underwriter of Series C. Bank 1 would have one “deal” worth $30 million, and Bank 2 would have one “deal” worth $20 million.

Exclusions: Derivatives, private placements, variable rate preferred securities, municipal commercial paper, and remarketings are excluded from municipal league table eligibility.

The full version of Bloomberg’s League table Standards & Guidelines can be accessed and subscribed to on the Reports tab on

LEAG<GO>.

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