06 PFILeagueTables2010 47-84.pdf - The Global Clearinghouse

http://www.pfie.com 13 January 2011 | pfi | 47PROJECTFINANCEINTERNATIONAL13 JANUARY 2011ISSUE 448LEAGUETABLESContentsIntroduction 48Bank MLAs 53Bond lead managers 75Multilaterals 77Advisers 81

48 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesPF getsa 54% liftThe global project finance loan marketreached US$208.1bn last year, up fromUS$139.2bn in 2009 but not yet back tothe giddy heights attained in 2007 and2008 of US$220bn and US$250bn respectively.Add in the bond market contributionof US$19.8bn and the commercial projects fundingmarket reached US$227.9bn, up by US$80.5bn, or 54%,from US$147.4bn in 2009. There was more good news onthe multilateral finance front, which overlaps the commercialfinance sector, where activity shot up in theemerging markets by a third to US$27bn.Of course, the market circa 2010 has its own characteristicsthat makes comparisons with previous yearsimprecise and to some extent misleading. The predominanceof the Indian market is important to note straightaway, and makes up one-quarter of the global loanstotal. Indian loan volumes rose from US$29.9bn in 2009to US$54.8bn in 2010. Indian banks are already startingto wonder if they can continue to fund their domesticmarket in this way. International banks started to participatein Indian deals in 2010, but only in a toe-in-thewater kind of way.There was one other single event to note. The refinancingof the Taiwan high-speed rail project added a furtherUS$12bn to the loans total in one project hit, an eventthat will not be repeated. The result was that the Asianloans total reached US$98.7bn, up from US$56.6bn in2009. Nevertheless, even accounting for the domestic Indiandeals and the Taiwan refi, the Asian markets arebecoming as important to the global projects market asthey were before the late 1990s Asian crisis. Local banksare playing a growing role too, across the region.The Americas loan market felt more active in 2010 butvolumes grew by just US$5bn to US$25.5bn. The USrenewables sector started to recover but not quite to theThe globalprojectfinance loanmarket stageda recovery lastyear, makingup more thanhalf of the dipinevitablyexperiencedin 2009. Inaddition, therewere big risesin the projectfinancebond andmultilateralprojectfinancemarkets.levels seen before the crash. Still, the pipeline is strongand the mix of the US and very healthy Canadian marketis a good bet for 2011. In Latin America, muchdepends on Brazil and whether funders other thanBNDES can be encouraged to lend to schemes. Interestingly,local bank finance in the LatAm region is growingin importance.The EMEA region posted US$83.9bn last year, up fromUS$62.5bn in 2009. However, this region could suffer fromthe various austerity packages being put in place. The fearfor banks now will probably not be lack of bank liquiditybut a smaller number of projects. The MEA part ofEMEA will probably become a focus. Volumes in the MiddleEast remained at around US$15bn last year but therewere few projects. This year, activity will pick up a lot.Africa and Eastern Europe could be in for more activitytoo.It is interesting that the alternative forms of debtfinance for the projects finance market had a goodyear last year. Bond issuance was down to a bare US$8.5bnin 2009 but rose back to US$19.7bn last year, led by theUS and Canada, those attractive-looking marketsmentioned earlier. There was a healthy spread of emergingmarket bonds too. The projects bond market, outsidethe US and Canada, is still trying to get over the collapseof the monolines. Competitively funding long-datedinfrastructure paper is still a problem. But maybe themarket is resolving this issue by itself. Certainly, it hasin Canada.The multilateral market tables present some importantconclusions. Banks are still risk-averse, despite the endof the credit crunch per se, and multilaterals – whetherthrough direct loans or export cover – are still vital tomany deals. The last couple of years has seen the returnof multi-sourced financing packages in the emerging marketsand indeed, even in some developed markets. The

http://www.pfie.com13 January 2011 | pfi| 49Multilateral activity inprojects in theemerging worldjumpedMethodologyThe league tables are compiledfrom returns sent in fromcommercial banks and financialadvisers. Only businessconducted in the projectfinance sector is included inthe tables. The submissionsare checked by Project FinanceInternational (PFI) and ThomsonFinancial Securities Data(TFSD) staff in London, NewYork and Singapore/Manila.The tables are presented in aregional form and then globaltables are calculated from theregional figures.On the loans side, only leadarrangingmandates are creditedin the tables. Theaccreditation is worked out onthe following basis. If onebank lead-arranges a US$500mproject finance loan, itreceives a US$500m credit, iftwo arrange a US$500m loan,they receive US$250m credits,if four, US$125m each, and soon. The credits are added upand the league tables are produced.On some deals, an individualbank's submitted figure mightbe lower in the published versionof the league table or itmight increase. To ensure thetables are market-accurate,some banks might be added tothe table even if they had notclaimed for a mandated leadarrangingrole, while othersmight not be credited even ifthey have claimed.The evaluation of leadarrangingroles has been mademuch stricter to include onlyinitial mandated leadarrangers. In the Americas, themandated lead arranger categoryis similar to the TFSDbookrunner category. Recentyears have seen more andmore club deals emerge. Onthese, each bank in the club isgiven equal credit.Overall, the tables areonly concerned with measuringthe performance of thosethat arrange deals, notnecessarily their final underwritingcommitment or finaltake.The deals counting towardsa bank's total are detailed inthe regional sections, with therelevant amounts per deal.From these details the countryand sector league tables aredrawn up. The process is verysimilar on the bond leaguetable. The tables measure theactivities only of lead managers.On the advisory side, thetable is split into three sections:private sector mandates,government or governmentownedsponsor advisory mandates,and advice to bidders ina competition. Only financialadvisory mandates are included.The table measures mandateswon last year in thesesectors and ranks advisersaccordingly in the total column.In addition, there is a figurecalculated for all mandatesbeing worked on by a firm inthe overall column.The advisory submissionsare checked by the reportersfor accuracy to ensure they aremandates won last year andnot claimed for in previousyears. This table is limited toadvisory mandates aboveUS$20m. In addition, there is atable of advisory mandatesreaching financial close lastyear. The table is rankedregionally and globally by thetotal amount of funds raisedby each financial adviser.For the third year, a new setof tables has been included tomeet the evolving needs of theproject finance market – formultilaterals. These tablesmeasure the involvement ofmultilaterals in projectfinance deals in the emergingmarkets, whether throughexport credit guarantees ordirect lending tranches. Loansto projects in the developedworld are included in theirown developed world multilateraltable. It is likely, as thecredit crunch takes hold, thatthe multilaterals – or internationaldevelopmental financeinstitutions (IDFIs) – willbecome ever more important.The 2010 league tables willnow go on the Thomson DealsProject Finance website. Toease the league table processin 2011, it is worth keeping PFIand TFSD staff up to date.Contact PFI's Rod Morrison(London 44 207 369 7570),TFSD's Carina Israel (Manila 00632 878 5867) and StephenAngelides (London 44 207 5421991) if there are concernsregarding the tables and ongoing2011 data collection.credit boom made arranging life much easier but that hasnow gone.Multilateral involvement in projects in the emergingworld jumped to US$27bn in 2010 from US$20.5bn in2009. Leading the way, institutional wise, were the Germans,given their involvement in Nord Stream 1 followedby the Japanese, the Chinese and then, perhaps surprisinglythe South Koreans. It is likely the South Koreans,given the level of activity of their EPC contractors rightnow, will rise up this table in 2011.Multilateral activity in the developed world, however,dropped by US$2.5bn to US$12.4bn. There is a clearlogic to this, however. The multilaterals stepped into dealsin 2009 when the credit crunch was at it worse but theirinvolvement now is perhaps not needed so much asbank liquidity returns.The advisory tables make grim reading. The number ofadvisories won in 2010, which shows up the project financepipeline of deals, dropped from 488 to 411. While advisorieswon rose in both the Americas and Asia-Pacific, interestingly,they dropped off in EMEA, by 106 to 231. The slowdown inthe PPP/PFI markets in countries such as the UK would haveplayed an important part in this decline.SBI Capital once again topped the loans list, and withIDBI, Axis and IDFC made up the four Indian banks in theglobal top 10. Bank of Taiwan came in at number twogiven its one-off high-speed refinancing. The French, asin 2009, showed well in the global loans list, with BNPParibas, Credit Agricole and SG all in the top 10. TwoJapanese rounded out the top 10, MUFJ and SMBC. MUFJhad a particularly good year, topping by some way in theAmericas loans table.

http://www.pfie.com13 January 2011 | pfi| 51The EMEA loan marketshowed stronggrowth as it recoveredfrom 2009MULTILATERAL TOP 5(2009 POSITION IN BRACKETS)1 - KfW/Hermes (7)2 - JBIC (1)3 - China Exim/Sinosure (3)4 - Kexim/KEIC (8)5 - Sace (4)with two deals theprior year.Devastated by anearthquake in 2010,Chile only managedone deal worthUS$120m, down fromthe prior year’sUS$1.6bn and seven deals.Barclays dominated in Americas bonds in 2010, withdeals that included the Chicago Parking Meters transactionand SteelRiver Transmission, as well as two deals forTerra-Gen Power. The Americas were second only toAustralia in bond issuance, with Canada and the US in thenumber two and three slots, respectively. Large Canadianhospital financings including McGill and CRCHUMmade a significant dent in the bond tables, a trend thatshould continue.AMERICAS TOP 5 LOAN ARRANGERS(2009 POSITION IN BRACKETS)1 - MUFJ (2)2 - Credit Agricole (1)3 - SMBC (9)4 - ING (7)5 - Scotiabank (30)Asia-PacificAsia-Pacific, and specifically India, is leading the pack. Theyear 2010 could be the best year yet for the region. Totalvalue of transactions registered in 2010 amounted to arecord US$98.7bn, an impressive 74.3% jump from theprevious year’s US$56.6bn. It is also the first time in morethan 10 years that the region beats the Americas andEMEA in terms of volume.After a half sluggish 2009, the markets bounced rightback into an array of activities, brushing away the dustfrom the global financial crisis. Some of the countries evenenjoyed an upgrade in their sovereign credit ratingsduring the year.The optimism towards the end of 2009 was carried forwardin 2010 and while other regions remained fragileand struggling, the Asia-Pacific region bloomed and registereda new record for the limited recourse financings.Year after year, and for the sixth straight year, SBICapital is staying strong as it continues to top the leaguetables of mandated lead arrangers. Not only is it leadingthe Asia-Pacific region, but it is also the global toparranger for the second straight year. It is followed byBank of Taiwan, but the next four banks in the Top 10are all Indian, namely IDBI, Axis Bank, IDFC, and ICICI,which was nowhere in the prior year’s table.Their presence at the top indicates the huge fundingrequirements in the country for its much needed infrastructuredevelopment. It is India’s time now, but the governmentwill need toaddress soon the concernsof banks – bothdomestic banks,which could be overstretchedby now;and foreign banks,which will be neededAsia Pacific,andspecificallyIndia, isleading thepack.to fill the fundinggap, but they remaincautious.The other banks inthe Top 10 are KDB,which remains verymuch a domesticbank; BTMU, whichhas started lendingASIA PACIFIC TOP 5LOAN ARRANGERS(2009 POSITION IN BRACKETS)1 - SBI Capital (1)2 - Bank of Taiwan (-)3 - IDBI (2)4 - Axis Bank (4)5 - IDFC (3)into India; and Australian banks NAB and CBA.India is one country that surely is consistent and continuesto defy sceptics. It remains the biggest market, producing138 deals worth a massive US$54.8bn and that isa significant 55.5% of transactions in the region. Australiastayed busy too, with 32 deals amounting to US$14.6bn.The Newcastle coal loader project, the Port of Brisbaneand the Peninsula Link toll road were the standout projects.They provided lending opportunities not only for thefour domestic banks but also the Europeans and a constantlygrowing selection of Asian banks.The third-largest market, albeit not exactly a verybusy one, was Taiwan. It boasts of one huge US$12bn dealthat was raised to refinance its high-speed rail project. Laosis back in the fourth spot after being absent in 2009. Theall-Thai bank deal for the Hongsa lignite power plantboosted its position. Macau is next in line, largely due tothe refinancing of the casino resort project.Thailand too had a good year, with a number of powerdeals. In South Korea, PPP deals have returned. About 31transactions were completed, keeping KDB and Wooribusy. Indonesia, Singapore and the Philippines also registereda few significant transactions, and more transactionsare expected to be completed in the New Year.With the fast-rising economic growth comes a greaterdemand for power and infrastructure. The power sectorhas been the strongest sector for many years now and islikely to be so in 2011. Some US$37bn worth of deals weresigned last year, followed by transportation with US$26bn.Demand for expressways and ports have kept the sectorbusy. The two sectors – power and transportation –accounted for 63.8% of total transactions, more than halfof the total business in 2010. The third busiest sector wastelecoms, largely due to the development of 3G servicesin India and financings involving telecom towers.EMEAThe EMEA loan market showed strong growth in 2010 asit recovered from the dip in 2009. Volumes were up toUS$83.9bn from US$62.5bn in 2009. But, as ever, there aremixed signals moving into 2011. The projects market, asidefrom the credit crunch era, when all the talk was about liquidity,is driven by economic growth and economic growthin the eurozone is not expected to be brilliant for sometime. The period of stimulus, too, has quickly turned intoan era of austerity and budget cutbacks.

52 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA TOP 5 LOAN ARRANGERS(2009 POSITION IN BRACKETS)1 - BNP Paribas (2)2 - Credit Agricole (1)3 - SG (5)4 - Santander (4)5 - Dexia (16)So markets such asUK PFI and projectmarkets in countries onthe edge of the eurozonewill hit the buffersin 2011. But in theirwake will come othernew opportunities. Thepush for renewables continues. Last year year saw two offshorewind farms financed in northern Europe. Lowrisk renewable energy projects, not offshore wind, couldreplace the PFI gap. Meanwhile, infra banks are likely tobe kept busy with a stream of infra M&A opportunitiessupplied by utilities keen to sell to infra funds.Ever-rising oil and gas prices will encourageprojects in Africa, the Middle East and Eastern Europe.The Middle East had a quiet time in financial closing termsin 2010 with just a handful of deals being financed –although one was the monster Jubail refinery scheme.This is likely to change in 2011 as Middle East market volumesrise towards the US$30bn pa mark seen a fewyears ago. In 2009 and 2010, the figure was US$15bn. Butmuch of the work done in those years will bear fruit thisyear.One not verygood sign,however,was the bigdip inadvisorymandateswon in 2010.One not very good sign, however, was the big dip inadvisory mandates won in 2010 – down by 106 to 231. Thisis probably a result of the drop in the highly active PFImarkets for deals in the less than US$100m range.BNP Paribas had a strong year again on the loans side,although not that great on the advisory side. Credit Agricolecame in second on loans and scored one huge hit onthe advisories side – Jubail. SG made it an all-French topthree in EMEA loans. Santander came in fourth, leadinga tight bunch including a resurrected Dexia, in fifth, Uni-Credit, Caja Madrid, Natixis – which scored some big advisoryhits too – BBVA and ING.Spain, despite its economic problems, topped thecountry table, a feat that might be difficult to repeat goingforward. The UK came in second with Saudi Arabia third.Expect the Middle East to figure more strongly this year.Bond market activity was not that great across the regionin 2010, with the UK having US$3.2bn of mainly ROSCOlinkedbonds and Italy having a Sace-guaranteed solarbond. And that, for all the bond talk across EMEA, was it.RBC had a strong year in EMEA and Canada. It toppedthe advisories closed table with a range of deals followedby SG, Credit Agricole and Standard Chartered, which alltransacted big single ticket projects during the year.Make our stories workharder for you, with aPFI reprintpfı 27 January 2010 Issue 425AmericasTHOMSON REUTERS PROJECT FINANCE INTERNATIONALPROJECT FINANCE INTERNATIONAL27 January 2010/Issue 425/http://www.pfie.comColombians bank on hydrosTrAIL gets a bond refiAsia PacificLane Cove in receivershipNaga gets the nodEMEAIf we’ve singled out your company forpraise, why not let the world know with areprint? Reprints offer a credible andPortuguese moving againNYU seeks bond banksPFI Awards Dinner 2009Al Qatrana - A case studyauthoritative endorsement of your company,and act as a powerful reinforcement for your sales message.For more information on how reprints will benefit you, contactAlison Swaisland, tel: +44(0) 20 7542 3245,email: alison.swaisland@thomsonreuters.com.THOMFeatures

http://www.pfie.com13 January 2011 | pfi| 53GLOBAL INITIAL MANDATED LEAD ARRANGERSMandated arrangers US$(m) % No of deals Mandated arrangers US$(m) % No of deals1 State Bank of India 21,136.9 10.2 552 Bank of Taiwan 12,005.1 5.8 13 IDBI 11,019.4 5.3 254 Axis Bank 8,512.2 4.1 245 BNP Paribas 8,338.5 4.0 696 Credit Agricole 7,614.5 3.7 827 IDFC 7,371.1 3.5 308 Mitsubishi UFJ Financial 6,000.5 2.9 699 Societe Generale 5,487.4 2.6 5510 SMBC 4,589.7 2.2 4111 ING 4,125.1 2.0 4512 Santander 3,961.0 1.9 5013 ICICI Bank 3,627.1 1.7 614 Natixis 3,614.5 1.7 3815 UniCredit Group 3,455.9 1.7 5416 RBS 3,398.1 1.6 3117 Dexia SA 3,388.3 1.6 5218 BBVA 3,361.7 1.6 5219 Caja Madrid 2,934.7 1.4 3120 Mizuho Financial 2,672.7 1.3 2921 HSBC 2,627.1 1.3 2522 WestLB 2,445.3 1.2 3923 Caixa d'Estalvis y Pensions 1,980.1 1.0 2824 Barclays Capital 1,871.3 0.9 2525 Lloyds Banking 1,859.3 0.9 1926 KDB 1,854.5 0.9 2027 Intesa SanPaolo 1,821.8 0.9 1728 NAB 1,725.7 0.8 2229 Standard Chartered 1,721.3 0.8 2130 KfW Bankengruppe 1,636.9 0.8 1631 CBA 1,611.7 0.8 1732 Scotiabank-Bank of Nova Scotia 1,577.7 0.8 1633 ANZ 1,389.6 0.7 2034 Nord/LB 1,388.9 0.7 2835 Banco Espirito Santo 1,374.0 0.7 2236 Caixa Geral de Depositos 1,370.0 0.7 1337 Kasikornbank 1,362.0 0.7 1338 Bank of China 1,348.3 0.7 639 China Development Bank 1,335.1 0.6 540 Citi 1,264.3 0.6 1241 Bayern LB 1,222.0 0.6 1842 Instituto de Credito Oficial 1,180.7 0.6 1643 DBS 1,081.5 0.5 844 Rabobank 995.4 0.5 1845 Siam Commercial 936.0 0.5 1046 Deutsche Bank 929.4 0.5 947 KBC Group NV 919.3 0.4 1448 Export Development Canada 885.1 0.4 649 Westpac 863.9 0.4 1350 RBC Capital Markets 839.8 0.4 651 Bank of India 830.3 0.4 252 Corporacion Fin Colombiana 800.0 0.4 153 Banque Saudi Fransi 778.3 0.4 4=53 Natl Comml Bank Saudi Arabia 778.3 0.4 455 Banco de Sabadell 760.7 0.4 1456 ICBC 725.3 0.4 557 Yes Bank 680.5 0.3 758 DZ Bank 669.0 0.3 459 Saudi British Bank 666.9 0.3 360 Standard Bank 649.1 0.3 661 NIBC 637.8 0.3 1062 Commerzbank 630.8 0.3 663 Sberbank 628.7 0.3 364 Credit Mutuel 603.0 0.3 865 Triodos Bank 594.3 0.3 466 Landesbank Hessen-Thueringen 549.3 0.3 1067 VTB Capital 545.7 0.3 168 Krung Thai Bank 541.7 0.3 369 JP Morgan 531.9 0.3 370 Samba Leasing 530.8 0.3 371 OCBBC 521.0 0.3 572 Banco Popular Espanol SA 512.7 0.3 873 Bajaj Consultants 471.1 0.2 174 CoBank 467.3 0.2 875 DnB NOR BANK 454.8 0.2 976 Alinma Bank 453.3 0.2 377 BMO Capital Markets 452.8 0.2 378 Mediobanca 446.8 0.2 279 Banco Comercial Portugues 445.2 0.2 680 Bank of Ayudhya 431.7 0.2 281 Woori Financial 423.3 0.2 782 Bangkok Bank 417.9 0.2 383 TMB Bank 414.5 0.2 284 GE Capital 410.3 0.2 685 Garanti Bank 392.5 0.2 286 Yapi Ve Kredi Bankasi 392.4 0.2 387 National Bank of Abu Dhabi 382.6 0.2 288 Banco Portugues Investimento 366.9 0.2 489 Al Rajhi Banking & Investment 341.9 0.2 2=89 Arab National Bank 341.9 0.2 2=89 Riyadh Bank 341.9 0.2 2=89 Saudi Hollandi Bank 341.9 0.2 293 Nationwide Anglia Building Soc 330.1 0.2 594 European Arab Bank 326.0 0.2 395 Arab Petroleum Investment 325.8 0.2 296 Government Savings Bank of Thailand321.7 0.2 1=96 Siam City Bank 321.7 0.2 1=96 Thai Exim Bank 321.7 0.2 199 SEB Enskilda 316.6 0.2 5100 Investec 314.9 0.2 7101 Metropolitan Bank & Trust 303.7 0.2 1102 UOB 299.9 0.1 4103 Credit Suisse 298.9 0.1 4104 CIBC World Markets 290.4 0.1 5105 Bank of Ireland 287.8 0.1 6106 Arab Bank 275.8 0.1 2107 Bank of America Merrill Lynch 275.5 0.1 3108 KB Financial 256.0 0.1 1

54 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesGLOBAL INITIAL MANDATED LEAD ARRANGERS CONTINUEDMandated arrangers US$(m) % No of deals Mandated arrangers US$(m) % No of deals109 Groupe BPCE 249.9 0.1 3110 Nordea 249.7 0.1 4111 Bank Al-Jazira 247.5 0.1 1=111 Islamic Development Bank 247.5 0.1 1=111 Samba Financial 247.5 0.1 1=111 Saudi Investment Banking 247.5 0.1 1115 AK Bank 239.5 0.1 2116 Bancolombia 238.3 0.1 2117 BMPS 238.2 0.1 6118 BANIF 233.7 0.1 3119 ASN Bank 213.9 0.1 2120 Abbey National 210.4 0.1 1121 TSKB Menkul Degerler 187.5 0.1 1=121 Turkiye Is Bankasi 187.5 0.1 1123 Banco Nacional Ultramarino 175.0 0.1 1=123 Goldman Sachs 175.0 0.1 1=123 UBS 175.0 0.1 1126 Emirates NBD 170.0 0.1 1127 Development Bank of Japan 157.0 0.1 4128 Gulf International Bank 155.8 0.1 1129 National Bank of Canada 154.8 0.1 2130 Landesbank Baden-Wurttemberg 149.2 0.1 4131 Centrobanca 140.1 0.1 6132 Abu Dhabi Islamic Bank 137.5 0.1 1=132 Al Hilal Islamic Bank 137.5 0.1 1=132 Al Khaliji Commercial Bank 137.5 0.1 1=132 Arab Banking 137.5 0.1 1=132 Bank of Baroda 137.5 0.1 1=132 First Gulf Bank 137.5 0.1 1=132 Union National Bank of UAE 137.5 0.1 1139 L&T Infra Finance 129.8 0.1 2140 Turkiye Vakiflar Bankasi 126.5 0.1 1141 Banco De Oro Unibank 125.4 0.1 2142 Credito Valtellinese 123.1 0.1 4=142 Industry Funds Svcs 123.1 0.1 2144 Sumitomo Trust & Banking 113.7 0.1 2145 Canara Bank 110.1 0.1 1146 Itau Unibanco 108.9 0.1 2147 Banca Popolare di Milano 107.9 0.1 3148 MetLife Inc 102.5 0.1 2=148 Siemens Financial 102.5 0.1 2150 Caja Navarra 96.4 0.1 2151 Pohjola Bank 93.9 0.1 1152 Allied Irish Banks 91.2 0.0 1153 EFG Group 88.9 0.0 1=153 Piraeus Bank 88.9 0.0 1155 Bank Leumi Le Israel 86.0 0.0 1=155 Discount Bank & Trust 86.0 0.0 1=155 United Mizrahi Bank 86.0 0.0 1158 KeyBanc Capital Markets 84.7 0.0 2159 Ahli United Bank 84.4 0.0 1=159 Continental International Bank 84.4 0.0 1161 Shinkin Central Bank 74.6 0.0 1162 Caixa de Galicia 72.4 0.0 2163 Mitsubishi UFJ Lease & Finance 71.4 0.0 1164 Erste Group 70.6 0.0 2165 Macquarie 69.2 0.0 2166 Huntington Bancshares 68.8 0.0 1=166 PNC Financial Services 68.8 0.0 1168 Bendigo & Adelaide Bank 66.5 0.0 1169 Prudential Securities 65.8 0.0 1170 Banco do Brasil 63.6 0.0 1171 Handelsbanken Capital Markets 63.5 0.0 1172 SunTrust Banks 60.8 0.0 1173 Mega Financial 60.4 0.0 1174 Land Bank of Taiwan 59.3 0.0 1175 Banca Popolare Italiana 58.5 0.0 1176 Export-Import Bank of China 57.6 0.0 1177 HSH Nordbank 57.4 0.0 2178 Westbourne Capital 55.5 0.0 1179 RMB Holdings 54.5 0.0 2180 CaixaNova 53.8 0.0 2181 National Pension Fund 51.2 0.0 1182 Banobras SNC 50.9 0.0 1=182 Grupo Financiero Interacciones 50.9 0.0 1184 Resona Holdings 50.4 0.0 1185 Corporacion Andina de Fomento 50.0 0.0 1=185 Credicorp 50.0 0.0 1187 Caixa d'Estalvis de Catalunya 48.6 0.0 2188 Bank Central Asia 47.5 0.0 1=188 CIMB 47.5 0.0 1=188 Pan Indonesia Bank 47.5 0.0 1191 Banca Popolare di Verona-BSGSP 46.0 0.0 1192 Banca Agrileasing 45.6 0.0 2193 Bank of Philippine Islands 45.4 0.0 1=193 China Banking Corp 45.4 0.0 1=193 Security Bank & Trust 45.4 0.0 1196 Bankinter 43.2 0.0 2196 Monte de Piedad HuelvaySevilla 43.2 0.0 2196 Unicaja 43.2 0.0 2199 Mirae Asset Securities 43.1 0.0 1200 Caja de Castilla la Mancha 41.8 0.0 1201 Ahorro Corporacion Financiera 41.7 0.0 1202 IKB Deutsche Industriebank 38.7 0.0 1203 Meliorbanca SpA 35.6 0.0 1204 Cooperative Wholesale Society 33.9 0.0 1205 Caja Rural Credicoop Scdad 31.7 0.0 1206 Bancaja SA 30.7 0.0 1207 United Bank for Africa PLC 30.0 0.0 1208 Banca di Credito Coop Manzano 29.8 0.0 1=208 Cassa di Risparmio di Roma 29.8 0.0 1210 Aozora Bank 29.3 0.0 1210 Bank Communication 29.3 0.0 1210 Taiwan Business Bank 29.3 0.0 1213 Banca Popolare dell'Etruria 29.0 0.0 2214 PKO BP 28.7 0.0 1=214 Raiffeisen Zentralbank 28.7 0.0 1=214 Wielkopolski Bank Kredytowy 28.7 0.0 1

http://www.pfie.com13 January 2011 | pfi| 55GLOBAL INITIAL MANDATED LEAD ARRANGERS CONTINUEDMandated arrangers US$(m) % No of deals Mandated arrangers US$(m) % No of deals217 Caterpillar Financial 27.0 0.0 1218 Cassa di Risparmio di Parma 26.8 0.0 1219 Banco International del Peru 25.0 0.0 1220 Korea Finance Corporation 24.6 0.0 1221 Banco de Valencia 22.9 0.0 1=221 Caja de Ahorros Mediterraneo 22.9 0.0 1223 Cassa di Risparmio di Lucca 22.7 0.0 1224 OTP Bank 21.6 0.0 1225 Bank Negara Indonesia PT 16.0 0.0 1226 Banca Popolare Emilia Romagna 13.3 0.0 1=226 Cassa de Risparmio de Ferrara 13.3 0.0 1=226 Cassa di Risparmio di Bolzano 13.3 0.0 1=226 Cassa di Risparmio di Ravenna 13.3 0.0 1=226 ICCREA 13.3 0.0 1231 Kaiser 12.4 0.0 1232 Shiga Bank 10.6 0.0 1233 OSEO 7.1 0.0 1Total* 208,173.9 100.0 598GLOBAL LOANS BY COUNTRYNo ofNation US$m % dealsIndia 54,801.7 26.3 138Spain 17,376.1 8.4 67Australia 14,592.1 7.0 32United States of America 13,423.8 6.5 52United Kingdom 13,020.8 6.3 34Taiwan 12,064.4 5.8 2Saudi Arabia 10,000.2 4.8 4Switzerland 5,371.2 2.6 1France 5,350.7 2.6 22Italy 5,014.5 2.4 37Portugal 4,638.6 2.2 10Canada 4,318.1 2.1 21Brazil 3,058.7 1.5 7Laos 2,997.1 1.4 2Macau 2,905.1 1.4 2Thailand 2,818.4 1.4 13Russian Federation 2,753.6 1.3 5South Korea 2,714.9 1.3 31Indonesia 2,405.3 1.2 4Belgium 2,401.8 1.2 6Germany 2,132.6 1.0 8Turkey 1,719.8 0.8 5Mexico 1,709.9 0.8 7United Arab Emirates 1,650.0 0.8 3Netherlands 1,437.3 0.7 4Oman 1,361.1 0.7 2Singapore 1,307.8 0.6 1Philippines 1,173.7 0.6 4Egypt 1,012.5 0.5 1Ghana 1,002.0 0.5 4Colombia 960.0 0.5 2Republic of Ireland 779.2 0.4 5No ofNation US$m % dealsNigeria 777.0 0.4 4Sweden 728.6 0.4 3Japan 681.7 0.3 11Peru 615.0 0.3 4Norway 609.3 0.3 2Bahrain 600.0 0.3 1South Africa 510.0 0.2 1Israel 430.0 0.2 1Equatorial Guinea 400.0 0.2 1Zambia 400.0 0.2 1Dominican Republic 379.0 0.2 2Greece 375.9 0.2 3Czech Republic 357.5 0.2 6Guatemala 350.0 0.2 1Estonia 281.6 0.1 1Bolivia 253.0 0.1 1Democratic Republic of the Congo 250.0 0.1 1Bermuda 247.0 0.1 1Poland 228.7 0.1 3Denmark 219.9 0.1 1Ivory Coast 207.0 0.1 2China 153.6 0.1 2Romania 135.0 0.1 1Senegal 132.2 0.1 1Chile 120.0 0.1 1Cayman Islands 100.0 0.1 1Bhutan 92.6 0.0 1Bulgaria 90.6 0.0 2Latvia 89.5 0.0 1Hungary 86.5 0.0 1Total 208,173.9 100.0 598

56 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesGLOBAL LOANS BY SECTORSectorVolume (US$m)Power 73,300.4Transportation 52,315.4Oil & gas 25,950.8Leisure & property 13,824.2Telecommunications 13,382.7Petrochemicals 11,306.4Mining 8,857.7Industry 6,306.0Water & sewerage 1,577.5Waste & recycling 1,266.6Agriculture & forestry 86.3Total 208,173.9

http://www.pfie.com13 January 2011 | pfi| 57AMERICAS INITIAL MANDATED LEAD ARRANGERSLead manager Volume (U$Sm) % No of deals Deals1Mitsubishi UFJ Financial 3,284.8 12.9 41 New York Wind (United States, 19.8), Cedro Hill Windfarm (United States, 40.2), Arlington Valley Energy (UnitedGroupStates, 74.0), MT Falcon Hldg Co SAPI de CV (Mexico, 100.0), Keenan II (United States, 32.7), Chicontepec DrillingWells (Mexico, 80.0), Alta Wind I (United States, 65.8), Goshen II (United States, 74.7), Pacifico Coal-Fired Plant(Mexico, 136.5), P&M Drilling International BV (Brazil, 496.9), Tupi FPSO (Brazil, 266.7), AES Granite RidgeCogeneration (United States, 32.5), Hudson Ranch Geothermal (United States, 37.5), Central States Wind (UnitedStates, 42.5), Green Frontier Windpower LLC (United States, 62.9), Copper Mountain Mines Ltd (Canada, 81.0), IdahoWind Portfolio (United States, 80.8), Northland Power Income Fund (Canada, 91.2), Fortistar Methane 3 LLC (UnitedStates, 36.7), Alta Wind II (United States, 26.7), Alta Wind IV (United States, 17.7), Alta Wind III (United States, 27.0),Alta Wind V (United States, 29.7), Fowler Ridge Wind Farm Phse II (United States, 69.7), York Energy Centre (Canada,63.6), Comber Wind (Canada, 171.9), Wild Prairie Wind Portfolio (United States, 74.2), Mirant Marsh Landing LLC(United States, 65.0), Reliant Energy Channelview LP (United States, 52.5), ODN I & ODN II (Brazil, 63.6), ShepherdsFlat Wind Farm (United States, 69.3), Piedmont Green Power LLC (United States, 74.6), Saint Isidore A (Canada, 18.6),Windsor-Essex Parkway (Canada, 123.8), Ridgewood Renewable Power LLC (United States, 54.9), GWF/Tracy EnergyLLC (United States, 68.3), Top of the World Wind Energy (United States, 57.7), Cedar Creek II Wind Facility (UnitedStates, 34.9), Eimsley West (Canada, 18.9), Eimsley East (Canada, 19.1), Samarco Mineracao Upgrade (Brazil, 230.9)2Credit Agricole CIB 1,710.6 6.7 26 Nuevo Pemex Cogeneration (Mexico, 65.7), Arlington Valley Energy (United States, 74.0), Ruby Pipeline LLC (UnitedStates, 215.7), Sugar Camp Mine (United States, 97.8), Red Vial 4 Highway (Peru, 50.0), Alta Wind I (United States,65.8), HydroChile SA (Chile, 30.0), Bayonne Power Plant (United States, 84.4), Calvert Cliffs Nuclear Plant 3 (UnitedStates, 135.0), Central States Wind (United States, 42.5), Green Frontier Windpower LLC (United States, 62.9), SNC-Lavalin Innisfree McGill (Canada, 53.8), Women's College Hospital (Canada, 55.0), South Fraser Perimeter Road(Canada, 32.8), Alta Wind II (United States, 26.7), Alta Wind IV (United States, 17.7), Alta Wind III (United States,27.0), Alta Wind V (United States, 29.7), Foresight Energy LLC (United States, 68.8), Avenal Solar Holdings LLC (UnitedStates, 34.9), Mirant Marsh Landing LLc (United States, 65.0), Reliant Energy Channelview LP (United States, 52.5),ODN I & ODN II (Brazil, 63.6), Windsor-Essex Parkway (Canada, 123.8), Blythe Power Project LLC (United States, 62.3),Long Beach Superior Court (United States, 73.3)3Sumitomo Mitsui Finl Grp Inc 1,263.3 5.0 12 Grupo R Rig Purchase (Mexico, 26.1), MT Falcon Hldg Co SAPI de CV (Mexico, 100.0), Chicontepec Drilling Wells(Mexico, 80.0), Goshen II (United States, 74.7), Pacifico Coal-Fired Plant (Mexico, 136.5), Tupi FPSO (Brazil, 266.7),B2L Partnership (Canada, 46.0), SNC-Lavalin innisfree McGill (Canada, 53.8), Avenal Solar Holdings LLC (UnitedStates, 34.9), Minera San Cristobal SA (Bolivia, 253.0), Sao Paulo (Brazil, 130.0), King Edward VII Memorial Bldg(Bermuda, 61.8)4ING 1,197.0 4.7 22 Pueblo Viejo Dominicana Corp (Dominican Rep, 53.0), Arlington Valley Energy (United States, 74.0), Perryville GasStorage (United States, 62.5), Keenan II (United States, 32.7), Gulf Wind LLC (United States, 38.0), Hudson RanchGeothermal (United States, 37.5), Continental Dairy Farm Project (United States, 86.3), Idaho Wind Portfolio (UnitedStates, 80.8), Women's College Hospital (Canada, 55.0), South Fraser Perimeter Road (Canada, 32.8), Alta Wind II(United States, 26.7), Alta Wind IV (United States, 17.7), Alta Wind III (United States, 27.0), Alta Wind V (United States,29.7), Chilca-Marcona-Caraveli (Peru, 63.3), SG Resources Cavern 4 Project (United States, 60.8), York Energy Centre(Canada, 63.6), Mirant Marsh Landing LLC (United States, 65.0), ODN I & ODN II (Brazil, 63.6), Windsor-EssexParkway (Canada, 123.8), GWF/Tracy Energy LLC (United States, 68.3), Cedar Creek II Wind Facility (United States, 34.9)5Scotiabank-Bank of Nova Scotia 1,033.9 4.1 12 Pueblo Viejo Dominicana Corp (Dominican Rep, 53.0), Nuevo Pemex Cogeneration (Mexico, 65.7), Ruby Pipeline LLC(United States, 215.7), Highway 400 & 401 Service (Canada, 82.1), SNC-Lavalin Innisfree McGill (Canada, 53.8),YorkEnergy Centre (Canada, 63.6), Comber Wind (Canada, 171.9), Shepherds Flat Wind Farm (United States, 69.3),Ridgewood Renewable Power LLC (United States, 54.9),GWF/Tracy Energy LLC (United States, 68.3), Blythe PowerProject LLC (United States, 62.3), Long Beach Superior Court (United States, 73.3)6Mizuho Financial Group 1,030.8 4.0 12 MT Falcon Hldg Co SAPI de CV (Mexico, 100.0), J Power Sound Capital LLC (United States, 85.0), Chicontepec DrillingWells (Mexico, 80.0), Goshen II (United States, 74.7), Gulf Wind LLC (United States, 38.0), Tupi FPSO (Brazil, 266.7),Copper Mountain Mines Ltd (Canada, 81.0), South Trent Wind LLC (United States, 19.4), Northland Power IncomeFund (Canada, 91.2), Avenal Solar Holdings LLC (United States, 34.9), TCT Generation Holdings LLC (United States,125.0), Cedar Creek II Wind Facility (United States, 34.9)7Societe Generale 963.7 3.8 13 Grupo R Rig Purchase (Mexico, 26.1), Ruby Pipeline LLC (United States, 215.7), Calvert Cliffs Nuclear Plant 3 (UnitedStates, 135.0), Hudson Ranch Geothermal (United States, 37.5), Milford II Wind (United States, 49.4), Women'sCollege Hospital (Canada, 55.0), South Fraser Perimeter Road (Canada, 32.8), Fowler Ridge Wind Farm Phse II

58 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesAMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals(United States, 69.7),ODN I & ODN II (Brazil, 63.6), Windsor-Essex Parkway (Canada, 123.8), Top of the World WindEnergy (United States, 57.7), Cheves Hydro Plant (Peru, 62.5), Cedar Creek II Wind Facility (United States, 34.9)8Santander 916.0 3.6 13 Nuevo Pemex Cogeneration (Mexico, 65.7), Cedro Hill Windfarm (United States, 40.2), Ruby Pipeline LLC (UnitedStates, 215.7), Alta Wind I (United States, 65.8), Milford II Wind (United States, 49.4), Green Frontier Windpower LLC(United States, 62.9), South Fraser Perimeter Road (Canada, 32.8), Avenal Solar Holdings LLC (United States, 34.9),ODN I & ODN II (Brazil, 63.6), Shepherds Flat Wind Farm (United States, 69.3), Windsor-Essex Parkway (Canada,123.8), Glen Dhu Wind Energy LP (Canada, 57.0), Cedar Creek II Wind Facility (United States, 34.9)9WestLB AG 913.8 3.6 16 Arlington Valley Energy (United States, 74.0), Grupo R Rig Purchase (Mexico, 26.1), Perryville Gas Storage (UnitedStates, 62.5), HydroChile SA (Chile, 30.0), AES Granite Ridge Cogeneration (United States, 32.5), Bayonne PowerPlant (United States, 84.4), Hudson Ranch Geothermal (United States, 37.5), Amherstburg Solar Park (Canada, 29.8),Sociedad Portuaria Terminal de (Colombia, 80.0), Ontario Provincial Police (Canada, 52.8), Minera Y Metalurgica delBoleo (Mexico, 20.0), Mirant Marsh Landing LLC (United States, 65.0), ODN I & ODN II (Brazil, 63.6), Shepherds FlatWind Farm (United States, 69.3), Windsor-Essex Parkway (Canada, 123.8), Cheves Hydro Plant (Peru, 62.5)10 Corporacion Fin Colombiana 800.0 3.1 1 Ruta del Sol [Second Section] (Colombia, 800.0)11 UniCredit Group 772.4 3.0 12 Vantage Wind Energy LLC (United States, 61.9), Grupo R Rig Purchase (Mexico, 26.1), Ruby Pipeline LLC (UnitedStates, 215.7), Central States Wind (United States, 42.5), Peace Garden Wind Project (United States, 39.0), EndeavourGold Corp (Cayman Islands, 100.0), South Fraser Perimeter Road (Canada, 32.8), Avenal Solar Holdings LLC (UnitedStates, 34.9), Minera Y Metalurgica del Boleo (Mexico, 20.0), Wind Prairie Wind Portfolio (United States, 74.2), ODN I& ODN II (Brazil, 63.6), King Edward VII Memorial Bldg (Bermuda, 61.8)12 BBVA 627.2 2.5 12 Cedro Hill Windfarm (United States, 40.2), Grupo R Rig Purchase (Mexico, 26.1), HydroChile SA (Chile, 30.0), CentralStates Wind (United States, 42.5), Green Frontier Windpower LLC (United States, 62.9), Fowler Ridge Wind Farm PhseII (United States, 69.7), ODN I & ODN II (Brazil, 63.6), Shepherds Flat Wind Farm (United States, 69.3), Long BeachSuperior Court (United States, 73.3), Top of the World Wind Energy (United States, 57.7), Glen Dhu Wind Energy LP(Canada, 57.0), Cedar Creek II Wind Facility (United States, 34.9)13 BNP Paribas SA 606.0 2.4 8 Arlington Valley Energy (United States, 74.0), Crockett Cogeneration (United States, 30.0), Calvert Cliffs NuclearPlant 3 (United States, 135.0), SNC-Lavalin Innisfree McGill (Canada, 53.8), Reliant Energy Channelview LP (UnitedStates, 52.5), ODN I & ODN II (Brazil, 63.6), Windsor-Essex Parkway (Canada, 123.8), Long Beach Superior Court(United States, 73.3)14 Dexia SA 554.4 2.2 11 Cedro Hill Windfarm (United States, 40.2), Vantage Wind Energy LLC (United States, 61.9), Beech Ridge Energy LLC(United States, 54.0), Amherstburg Solar Park (Canada, 29.8), SNC-Lavalin Innisfree McGill (Canada, 53.8), MirantMarsh Landing LLC (United States, 65.0), Shepherds Flat Wind Farm (United States, 69.3), Saint Isidore A (Canada,18.6), Windsor-Essex Parkway (Canada, 123.8), Elmsley West (Canada, 18.9), Elmsley East (Canada, 19.1)15 Rabobank NV 552.2 2.2 10 Vantage Wind Energy LLC (United States, 61.9), Keenan II (United States, 32.7), Alta Wind I (United States, 65.8),Vantage Wind Energy LLC (United States, 185.7), Windstar Project (United States, 55.0), Alta Wind II (United States,26.7), Alta Wind IV (United States, 17.7), Alta Wind III (United States, 27.0), Alta Wind V (United States, 29.7), SunEdison Solar Portfolio (United States, 50.0)16 Nord/LB 544.4 2.1 10 New York Wind (United States, 19.8), Central States Wind (United States, 42.5), Idaho Wind Portfolio (United States,80.8), South Trent Wind LLC (United States, 19.4), SunE Sky 13th Sideroad LP (Canada, 34.6), SunE Sky Ryerse LP(Canada, 34.7), Starwood SSM1 (Canada, 75.2), Ontario Provincial Police (Canada, 52.8), Starwood SSM2 (Canada,132.6), Rollins Wind Facility (United States, 52.0)17 RBS 515.5 2.0 6 Ruby Pipeline LLC (United States, 215.7), Milford II Wind (United States, 49.4), SNC-Lavalin Innisfree McGill (Canada,53.8), Mirant Marsh Landing LLC (United States, 65.0), Shepherds Flat Wind Farm (United States, 69.3), Blythe PowerProject LLC (United States, 62.3)18 Natixis 471.0 1.8 8 Grupo R Rig Purchase (Mexico, 26.1), Keenan II (United States, 32.7), Alta Wind I (United States, 65.8), Calvert CliffsNuclear Plant 3 (United States, 135.0), Beech Ridge Energy LLC (United States, 54.0), SG Resources Cavern 4 Project(United States, 60.8), Avenal Solar Holdings LLC (United States, 34.9), King Edward VII Memorial Bldg (Bermuda, 61.8)19 CoBank ACB 467.3 1.8 8 Milford II Wind (United States, 49.4), Green Frontier Windpower LLC (United States, 62.9), Fortistar Methane 3 LLC(United States, 36.7), SG Resources Cavern 4 Project (United States, 60.8), Mirant Marsh Landing LLC (United States,65.0), Shepherds Flat Wind Farm (United States, 69.3), Ridgewood Renewable Power LLC (United States, 54.9),GWF/Tracy Energy LLC (United States, 68.3)20 BMO Capital Markets 452.8 1.8 3 Ruby Pipeline LLC (United States, 215.7), FCSS (Canada, 145.9), Northland Power Income Fund (Canada, 91.2)

http://www.pfie.com13 January 2011 | pfi| 59AMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals21 HSBC Holdings PLC 429.4 1.7 5 Nuevo Pemex Cogeneration (Mexico, 65.7), Jaguar Energy (Guatemala, 175.0), Chilca-Marcona-Caraveli (Peru,63.3), ODN I & ODN II (Brazil, 63.6), King Edward VII Memorial Bldg (Bermuda, 61.8)22 DZ Bank 420.0 1.6 1 OSX-1 FPSO (Brazil, 420.0)23 Banco Espirito Santo SA 363.7 1.4 8 Nuevo Pemex Cogeneration (Mexico, 65.7), Grupo R Rig Purchase (Mexico, 26.1), Gulf Wind LLC (United States, 38.0),HydroChile SA (Chile, 30.0), Milford II Wind (United States, 49.4), South Trent Wind LLC (United States, 19.4),Women's College Hospital (Canada, 55.0), Sociedad Portuaria Terminal de (Colombia, 80.0)24 General Electric Co 362.1 1.4 5 Bayonne Power Plant (United States, 84.4), Sandersville Power Plant (United States, 96.0), SG Resources Cavern 4Project (United States, 60.8), Reliant Energy Channelview LP (United States, 52.5), GWF/Tracy Energy LLC (UnitedStates, 68.3)25 Landesbank Hessen-Thueringen 344.4 1.4 6 Keenan II (United States, 32.7), Peace Garden Wind Project (United States, 39.0), SG Resources Cavern 4 Project(United States, 60.8), Wild Prairie Wind Portfolio (United States, 74.2), Shepherds Flat Wind Farm (United States,69.3), GWF/Tracy Energy LLC (United States, 68.3)26 Caja Madrid 325.8 1.3 4 Goshen II (United States, 74.7), Fowler Ridge Wind Farm Phse II (United States, 69.7), Windsor-Essex Parkway(Canada, 123.8), Top of the World Wind Energy (United States, 57.7)27 CIBC World Markets Inc 290.4 1.1 5 Pueblo Viejo Dominicana Corp (Dominican Rep, 53.0), Hudson Ranch Geothermal (United States, 37.5), NorthlandPower Income Fund (Canada, 91.2), SNC-Lavalin Innisfree McGill (Canada, 53.8), Ridgewood Renewable Power LLC(United States, 54.9)28 Citi 239.1 0.9 6 Alta Wind II (United States, 26.7), Alta Wind IV (United States, 17.7), Alta Wind III (United States, 27.0)Alta Wind V(United States, 29.7), Foresight Energy LLC (United States, 68.8), Shepherds Flat Wind Farm (United States, 69.3)29 Bancolombia SA 238.3 0.9 2 Jaguar Energy (Guatemala, 175.0), Chilca-Marcona-Caraveli (Peru, 63.3)30 Standard Chartered PLC 237.0 0.9 4 Pueblo Viejo Dominicana Corp (Dominican Rep, 53.0), GCL-Poly Energy Solar Project (United States, 50.0), SeaboardBarge-mounted Plant (Dominican Rep, 114.0), Minera y Metalurgica del Boleo (Mexico, 20.0)31 Lloyds Banking Group 234.3 0.9 4 Green Frontier Windpower LLC (United States, 62.9), Wild Prairie Wind Portfolio (United States, 74.2), Blythe PowerProject LLC (United States, 62.3), Cedar Creek II Wind Facility (United States, 34.9)32 Investec 233.1 0.9 4 Bayonne Power Plant (United States, 84.4), Hudson Ranch Geothermal (United States, 37.5), Fortistar Methane 3 LLC(United States, 36.7), Piedmont Green Power LLC (United States, 74.6)33 Bayerische Landesbank Giro 231.5 0.9 5 Gulf Wind LLC (United States, 38.0), Central States Wind (United States, 42.5), South Trent Wind LLC (United States,19.4), Shepherds Flat Wind Farm (United States, 69.3), Blythe Power Project LLC (United States, 62.3)34 Intesa SanPaolo 217.3 0.9 3 Bayonne Power Plant (United States, 84.4), ODN I & ODN II (Brazil, 63.6), Shepherds Flat Wind Farm (United States,69.3)35 RBC Capital Markets 201.9 0.8 3 York Energy Centre (Canada, 63.6), Mirant Marsh Landing LLC (United States, 65.0), Long Beach Superior Court(United States, 73.3)36 Banco de Sabadell 173.9 0.7 3 Fowler Ridge Wind Farm Phse II (United States, 69.7), Shepherds Flat Wind Farm (United States, 69.3), Cedar Creek IIWind Facility (United States, 34.9)37 National Bank of Canada 154.8 0.6 2 Northland Power Income Fund (Canada, 91.2), York Energy Centre (Canada, 63.6)38 Credit Suisse 135.0 0.5 1 Calvert Cliffs Nuclear Plant 3 (United States, 135.0)39 DnB NOR BANK ASA 126.1 0.5 2 ODN I & ODN II (Brazil, 63.6), Cheves Hydro Plant (Peru, 62.5)40 Barclays Capital 121.0 0.5 5 Alta Wind II (United States, 26.7), Alta Wind IV (United States, 17.7), Alta Wind III (United States, 27.0), Alta Wind V(United States, 29.7), Minera y Metalurgica del Boleo (Mexico, 20.0)41 Itau Unibanco 108.9 0.4 2 ODN I & ODN II (Brazil, 63.6), Ecosteel Gestao de Aguas (Brazil, 45.3)42 KfW Bankengruppe 105.8 0.4 2 Pueblo Viejo Dominicana Corp (Dominican Rep, 53.0), Ontario Provincial Police (Canada, 52.8)43 Siemens AG 102.5 0.4 2 Hudson Ranch Geothermal (United States, 37.5), Mirant Marsh Landing LLC (United States, 65.0)=43 MetLife Inc 102.5 0.4 2 Hudson Ranch Geothermal (United States, 37.5), Mirant Marsh Landing LLC (United States, 65.0)45 Deutsche Bank AG 93.1 0.4 2 New York Wind (United States, 19.8), Long Beach Superior Court (United States, 73.3)46 Allied Irish Banks PLC 91.2 0.4 1 Northland Power Income Fund (Canada, 91.2)47 KeyBanc Capital Markets Inc 84.7 0.3 2 Keenan II (United States, 32.7), Rollins Wind Facility (United States, 52.0)48 Huntington Bancshares Inc 68.8 0.3 1 Foresight Energy LLC (United States, 68.8)=48 PNC Financial Services Group 68.8 0.3 1 Foresight Energy LLC (United States, 68.8)50 Prudential Securities Inc 65.8 0.3 1 Alta Wind I (United States, 65.8)51 Caixa d'Estalvis y Pensions 65.7 0.3 1 Nuevo Pemex Cogeneration (Mexico, 65.7)=51 Export Development Canada 65.7 0.3 1 Nuevo Pemex Cogeneration (Mexico, 65.7)

60 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesAMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals53 Banco do Brasil SA 63.6 0.3 1 ODN I & ODN II (Brazil, 63.6)54 Nordea 62.5 0.2 1 Cheves Hydro Plant (Peru, 62.5)55 SunTrust Banks 60.8 0.2 1 SG Resources Cavern 4 Project (United States, 60.8)56 Commerzbank AG 57.8 0.2 2 New York Wind (United States, 19.8), Gulf Wind LLC (United States, 38.0)57 HSH Nordbank 57.4 0.2 2 Gulf Wind LLC (United States, 38.0), South Trent Wind LLC (United States, 19.4)58 Banobras SNC 50.9 0.2 1 Ixtapaluca Hospital (Mexico, 50.9)=58 Grupo Financiero Interacciones 50.9 0.2 1 Ixtapaluca Hospital (Mexico, 50.9)60 Corporacion Andina de Fomento 50.0 0.2 1 Red Vial 4 Highway (Peru, 50.0)=60 Credicorp 50.0 0.2 1 Red Vial 4 Highway (Peru, 50.0)62 Bank of Ireland 46.0 0.2 1 B2L Partnership (Canada, 46.0)63 Caixa Geral de Depositos 45.3 0.2 1 Ecosteel Gestao de Aguas (Brazil, 45.3)64 Landesbank Baden-Wurttemberg 32.7 0.1 1 Keenan II (United States, 32.7)65 CaixaNova 29.8 0.1 1 Amherstburg Solar Park (Canada, 29.8)66 Credit Mutuel SA 26.1 0.1 1 Grupo R Rig Purchase (Mexico, 26.1)=66 NIBC NV 26.1 0.1 1 Grupo R Rig Purchase (Mexico, 26.1)68 Banco International del Peru 25.0 0.1 1 Maple Energy Ethanol (Peru, 25.0)69 Standard Bank Group Ltd 20.0 0.1 1 Minera y Metalurgica del Boleo (Mexico, 20.0)Total* 25,534.5 100.0 100Proportional CreditSource: Thomson ReutersAMERICAS LOANS BY SECTORSectorVolume (US$m)Power 14,684.9Oil & gas 4,717.0Transportation 2,600.4Leisure & property 1,781.4Mining 1,208.8Petrochemicals 365.0Industry 90.7Agriculture & forestry 86.3Total 25,534.5AMERICAS LOANS BY COUNTRYNo ofNation US$m % dealsUnited States of America 13,423.8 52.6 52Canada 4,318.1 16.9 21Brazil 3,058.7 12.0 7Mexico 1,709.9 6.7 7Colombia 960.0 3.8 2Peru 615.0 2.4 4Dominican Republic 379.0 1.5 2Guatemala 350.0 1.4 1Bolivia 253.0 1.0 1Bermuda 247.0 1.0 1Chile 120.0 0.5 1Cayman Islands 100.0 0.4 1Total 25,534.5 100.0 100

http://www.pfie.com13 January 2011 | pfi| 61ASIA PACIFIC INITIAL MANDATED LEAD ARRANGERSLead manager Volume (U$Sm) % No of deals Deals1State Bank of India 21,136.9 21.4 55 OMPL (India, 810.8), Adani Power Ltd (India, 109.7), BSCPL Godhra Tollways Ltd (India, 117.1), Adhunik Power &Natural (India, 269.0), VPL (India, 432.2), Centennial Steel Company Ltd (India, 1,287.7), Cauvery Power Generation(India, 40.4), Gopalpur Ports Limited (India, 190.1), Jaypee Infratech Ltd (India, 438.3), Maxx Mobile CommunicationsLtd (India, 44.4), VPTL (India, 143.0), GPT Castings Ltd (India, 7.0), Prayagraj Power Generation Co (India, 129.7),Hinduja National Power Corp (India, 894.8), IOTUL (India, 222.2), L&T Uttaranchal Hydropower Ltd (India, 84.3), UtkalAlumina Intl Ltd (India, 349.8), Indus Towers Ltd (India, 290.5), RASIPL (India, 37.5), Chennai Network Infrastructure(India, 1,101.1), Essar Bulk Terminal [Salaya] (India, 132.9), Bharti Airtel Ltd (India, 994.4), Essar Oil Ltd (India,316.4), Hinduja National Power Corp (India, 119.1), Vedanta Aluminium Ltd (India, 1,076.7), Adani Power Ltd (India,431.3), Bareilly Highways Project Ltd (India, 308.1), Topworth Tollways[Satna] (India, 11.5), Adani Power Ltd (India,484.6), Bajaj Energy Power Ltd (India, 371.4), Birla Surya Limited (India, 208.3), Jas Toll Road Company (India, 60.8),Supreme Manor Wada Bhiwandi (India, 68.7), Videocon Telecommunications (India, 1,524.2), Adani Power Ltd(India, 100.0), HPCL Mittal Pipelines Ltd (India, 300.0), HPCL Mittal Energy Ltd (India, 187.5), Hinduja National PowerCorp (India, 44.9), Prayagraj Power Generation Co (India, 1,797.5), Simhapuri Energy Pvt Ltd (India, 260.4),Simhapuri Expressway Ltd (India, 220.3), Adani Power Ltd (India, 367.1), Essar Oil Ltd (India, 129.3), Petronet LNG Ltd(India, 1,448.1), Jindal India Thermal Power Ltd (India, 534.9), Meenakshi Energy Pvt Ltd (India, 263.8), SKS PowerGeneration (India, 296.9), SSTL (India, 585.6), DCCL (India, 92.5), Indore Dewas Tollways Ltd (India, 101.1), KSKMahanadi Power Co Ltd (India, 894.4), Mokama Munger Highway Ltd (India, 78.3), Space Theme Park India Ltd(India, 39.8), Chhapra Hajipur Expressways (India, 130.4), East North Interconnection Co (India, 155.9)2Bank of Taiwan 12,005.1 12.2 1 Taiwan High Speed Rail Corp (Taiwan, 12,005.1)3IDBI 11,019.4 11.2 25 TTML (India, 753.5), Coastal Andhra Power Ltd (India, 2,105.7), Aircel Ltd (India, 628.4), EOSIL (India, 261.5), IdeaCellular Ltd (India, 1,056.6), Utkal Alumina Intl Ltd (India, 349.8), GPGSL (India, 520.3), ITD-ITD CEM Joint Venture(India, 135.7), NBEIL (India, 216.2), Pipavav Shipyard Ltd (India, 82.7), Essar Oil Ltd (India, 316.4), GCTCPL (India,50.6), Reliance Cementation Pvt Ltd (India, 416.7), Aircel Ltd (India, 1,031.8), Dhamra Port Co Ltd (India, 135.8), GMRRajahmundry Energy Ltd (India, 562.0), Indus Towers Ltd (India, 486.4), Kalyan Infratech Pvt Ltd (India, 19.7), SuranaPower Ltd (India, 399.1), Meenakshi Energy Pvt Ltd (India, 263.8), NuPower Renewables Ltd (India, 26.7), CLP WindFarms[India]Pte Ltd (India, 42.2), CLP Wind Farms[Theni-II]Pte (India, 42.2), KSK Mahanadi Power Co Ltd (India,894.4), KSK Mahanadi Power Co Ltd (India, 221.0)4Axis Bank 8,512.2 8.6 24 Mahakaleshwar Tollways Pvt Ltd (India, 52.3), Jaypee Infratech Ltd (India, 438.3), Jhabua Power Ltd (India, 467.7),Abhijeet MADC Nagpur Energy (India, 151.2), Navayuga Dichpally Tollway (India, 42.4), Emco Energy Ltd (India,1,021.5), Ind Barath Energy Utkal Ltd (India, 532.4), Vadinar Power Co Ltd (India, 948.8), IVRCL Indore GujaratTollways (India, 251.3), CITPL (India, 72.5), Indiabulls Realtech Limited (India, 71.1), Indiabulls Realtech Limited(India, 1,096.5), Alaknanda Hydro Power Co Ltd (India, 107.9), Emco Energy Ltd (India, 42.5), Navayuga Udipi TollwayPvt Ltd (India, 105.9), Adani Power Ltd (India, 494.4), Beta Wind Farm Private Ltd (India, 280.3), Oriental NagpurConstruction (India, 138.9), Thrissur Expressway Ltd (India, 114.9), KSK Mahanadi Power Co Ltd (India, 894.4), GCEPL(India, 691.4), GMR OSE Hungund Hospet (India, 239.9), Haridwar Highways Project Ltd (India, 153.9), NSL TidongPower Gen Pte Ltd (India, 101.7)5IDFC 7,371.1 7.5 30 IOTUL (India, 222.2), Essar Power Hazira Ltd (India, 240.0), Green Infra Wind Energy (India, 72.7), Hathway Cable &Datacom Pvt (India, 22.0), IRB Pathankot Amritsar Toll (India, 203.4), IRB Jaipur Deoli Tollway (India, 198.1), IRBTalegaon Amravati Tollway (India, 106.0), IRB Goa Tollway Pvt Ltd (India, 67.0), Bharti Airtel Ltd (India, 994.4),Rayalseema Expressways Pvt Ltd (India, 158.9), Vodafone Essar Ltd (India, 426.4), Vaayu India Power Corporation(India, 180.3), Bhoruka Kumardhara Hydel Power (India, 20.0), ETTPL (India, 20.2), Monnet Power Co Ltd (India,818.8), Ashoka Belgaum Dharwad Tollway (India, 129.2), Delhi-Gurgaon Super (India, 345.2), Essar Power OrissaLimited (India, 56.8), Lanco Power Ltd (India, 335.6), Nandi Economic Corridor (India, 277.2), Nuziveedu RenewablePower (India, 38.5), Simhapuri Expressway Ltd (India, 220.3), Second Vivekananda Bridge (India, 70.1), VadinarPower Co Ltd (India, 163.0), Viom Networks Ltd (India, 111.9), Vodafone Essar Ltd (India, 1,445.1), CaparoEnergy[India]Ltd (India, 103.3), North Karanpura Transmission (India, 172.5), Talcher-II (India, 91.5), Jhajjar KTTransco Pte Ltd (India, 60.6)6ICICI Bank 3,627.1 3.7 6 Jaypee Infratech Ltd (India, 438.3), Maharashtra Border Checkpost (India, 248.2), Essar Oil Ltd (India, 316.4),Jaiprakash Power Ventures Ltd (India, 1,281.4), GMR Chennai Outer Ring Road (India, 154.7), Lanco Babandh PowerLimited (India, 1,188.2)7KDB 1,854.5 1.9 20 Ansan Jikimi Co Ltd (South Korea, 10.6), Daejun Ggumnamu Co Ltd (South Korea, 37.6), Gimpo Pure Water

62 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals7...ctd.Environment (South Korea, 97.3), Inje Tongil Village Co Ltd (South Korea, 80.1), Cheon An Waterway Road Ltd (SouthKorea, 56.7), Suwan Energy (South Korea, 212.5), Busan Pohang KangKun Co Ltd (South Korea, 62.4), HwacheonSteel Construction Co (South Korea, 88.7), Pureun Tongyeong Environment (South Korea, 84.4), Pyeongtaek EnergyService Co (South Korea, 501.6), Pureun Gwang Ju Environment (South Korea, 91.3), Miraesaeum2 Co Ltd (SouthKorea, 14.8), Busan E&E Co Ltd (South Korea, 70.5), Hongcheon-Inje Jikimi Co Ltd (South Korea, 57.3), Purun-Youngsan Co Ltd (South Korea, 89.3), Ulju Chong Chun Co Ltd (South Korea, 101.0), Chungnam Dormitory (SouthKorea, 0.8), Chungmu2 Co Ltd (South Korea, 83.3), Yeong Ju SMC Co Ltd (South Korea, 68.1), Yeo Su Clean Water CoLtd (South Korea, 46.3)8Mitsubishi UFJ Financial 1,594.9 1.6 18 SportsHub Pte Ltd (Singapore, 101.1), PT Cirebon Electric Power (Indonesia, 148.8), Paiton III Project (Indonesia,186.2), Hazelwood Power Fin Pty Ltd (Australia, 44.5), Southern Way Finance Pty Ltd (Australia, 73.3), Newcastle CoalInfr Grp (Australia, 137.1), Futamata Wind Farm (Japan, 96.3), Eurus Energy Aridagawa Corp (Japan, 19.8), LCT-MRENominees Pty Ltd (Australia, 79.6), Aust Pac Airports Melbourne (Australia, 77.0), Kanagawa Cancer Center PFI(Japan, 160.7), Loy Yang Power Projects (Australia, 29.3), Mine Social Rehabilitation (Japan, 17.6), WestNet RailHoldings No.1 (Australia, 89.0), Woodside Finance Ltd (Australia, 100.0), Hills Motorway Management Ltd (Australia,121.7), Jhajjar Power Ltd (India, 57.6), DBNGP Finance Co Pty Ltd (Australia, 55.5)9NAB 1,543.2 1.6 18 SportsHub Pte Ltd (Singapore, 150.0), Collgar (Australia, 49.6), Pyrenees Energy (Australia, 37.4), Southern WayFinance Pty Ltd (Australia, 73.3), Newcastle Coal Infr Grp (Australia, 137.1), Port of Portland Refinancing (Australia,29.9), TSIF-Borrowing Base Facility (Australia, 60.0), WSO Finance Pty Ltd (Australia, 67.5), Aust Pac AirportsMelbourne (Australia, 77.0), Aust Pac Airports Melbourne (Australia, 67.4), Inalco (Australia, 48.3), Loy Yang PowerProjects (Australia, 63.1), CAAP Financing Pty Ltd (Australia, 189.3), Western Energy Pty Ltd (Australia, 24.5), HillsMotorway Management Ltd (Australia, 121.7), Hope Downs Iron Ore Pty Ltd (Australia, 150.0), QPH Finance Co Pty Ltd(Australia, 141.8), DBNGP Finance Co Pty Ltd (Australia, 55.5)10 CBA 1,401.4 1.4 16 Collgar (Australia, 49.6), Pyrenees Energy (Australia, 37.4), Newcastle Coal Infr Grp (Australia, 137.1), QAL FinancePty Ltd (Australia, 176.0), PWCS (Australia, 88.6), TSIF-Borrowing Base Facility (Australia, 60.1), Ageis SecuritisationNominees (Australia, 68.2), WSO Finance Pty Ltd (Australia, 67.5), Aust Pac Airports Melbourne (Australia, 67.4),Aust Pac Airports Melbourne (Australia, 77.0), Phu Bia Mining Ltd (Laos, 25.5), WestNet Rail Holdings No.1(Australia, 89.0), Sydney Airport Fin Co Pty Ltd (Australia, 131.0), Hills Motorway Management Ltd (Australia, 121.7),Hope Downs Iron Ore Pty Ltd (Australia, 150.0), DBNGP Finance Co Pty Ltd (Australia, 55.5)11 ANZ 1,389.6 1.4 20 Collgar (Australia, 49.6), Pyrenees Energy (Australia, 37.4), Hazelwood Power Fin Pty Ltd (Australia, 44.5), SouthernWay Finance Pty Ltd (Australia, 73.3), Newcastle Coal Infr Grp (Australia, 137.1), TPG Telecom Ltd (Australia, 87.0),Port of Portland Refinancing (Australia, 29.9), TSIF-Borrowing Base Facility (Australia, 60.0), LCT-MRE Nominees PtyLtd (Australia, 79.6), WSO Finance Pty Ltd (Australia, 67.5), Aust Pac Airports Melbourne (Australia, 77.0), Aust PacAirports Melbourne (Australia, 67.4), Phu Bia Mining Ltd (Laos, 25.5), Inalco (Australia, 48.3), Loy Yang PowerProjects (Australia, 29.3), Western Energy Pty Ltd (Australia, 29.0), Woodside Finance Ltd (Australia, 100.0), HopeDowns Iron Ore Pty Ltd (Australia, 150.0), QPH Finance Co Pty Ltd (Australia, 141.8), DBNGP Finance Co Pty Ltd(Australia, 55.5)12 Kasikornbank 1,362.0 1.4 13 Hongsa Power Co Ltd (Laos, 321.7), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Thai National Power Co Ltd(Thailand, 110.0), Chachoengsao Cogeneration Co (Thailand, 75.7), Combined Heat and Power Co Ltd (Thailand,74.2), Industrial Cogen Co Ltd (Thailand, 71.9), Pathum Cogeneration Co Ltd (Thailand, 74.9), RIL Cogeneration Co Ltd(Thailand, 73.7), Saraburi A Cogeneration Co Ltd (Thailand, 74.1), Saraburi B Cogeneration Co Ltd (Thailand, 73.8),Natural Energy Dvlp Co Ltd (Thailand, 35.8), Amata B.Grimm Power 3 Ltd (Thailand, 156.5), Rojana Power Co Ltd(Thailand, 159.6)13 Bank of China 1,348.3 1.4 6 Karara Mining Ltd (Australia, 600.0), Venetian Orient Ltd (Macau, 175.0), Galaxy Entertainment Finance (Macau,288.8), Newcastle Coal Infr Grp (Australia, 137.1), Protelindo (Indonesia, 47.5), Woodside Finance Ltd (Australia,100.0)14 China Development Bank 1,335.1 1.4 5 Karara Mining Ltd (Australia, 600.0), GN Power (Philippines, 493.0), Newcastle Coal Infr Grp (Australia, 137.1),Protelindo (Indonesia, 47.5), Jhajjar Power Ltd (India, 57.6)15 Credit Agricole 1,259.5 1.3 14 SportsHub Pte Ltd (Singapore, 101.1), Paiton III Project (Indonesia, 186.2), Pyrenees Energy (Australia, 37.4), KSPC(Philippines, 23.3), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Hazelwood Power Fin Pty Ltd (Australia, 44.5),Newcastle Coal Infr Grp (Australia, 137.1), Protelindo (Indonesia, 47.5), TSIF-Borrowing Base Facility (Australia,60.0), WSO Finance Pty Ltd (Australia, 67.5), Woodside Finance Ltd (Australia, 100.0), Sydney Airport Fin Co Pty Ltd

http://www.pfie.com13 January 2011 | pfi| 63ASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals15 ...ctd. (Australia, 131.0), Hills Motorway Management Ltd (Australia, 121.7), QPH Finance Co Pty Ltd (Australia, 141.8)16 BNP Paribas 1,119.6 1.1 12 SportsHub Pte Ltd (Singapore, 101.1), Paiton III Project (Indonesia, 186.2), Venetian Orient Ltd (Macau, 175.0),Hazelwood Power Fin Pty Ltd (Australia, 44.5), Integra Mining Ltd (Australia, 26.5), Yeong Yang Wind Farm (SouthKorea, 31.2), Bentley Metal Mine (Australia, 14.0), Loy Yang Power Projects (Australia, 29.3), WestNet Rail HoldingsNo.1 (Australia, 89.0), Sydney Airport Fin Co Pty Ltd (Australia, 131.0), Hope Downs Iron Ore Pty Ltd (Australia, 150.0),QPH Finance Co Pty Ltd (Australia, 141.8)17 SMBC 1,097.3 1.1 11 SportsHub Pte Ltd (Singapore, 150.0), PT Cirebon Electric Power (Indonesia, 148.8), Paiton III Project (Indonesia,186.2), KSPC (Philippines, 23.3), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Southern Way Finance Pty Ltd(Australia, 73.3), Newcastle Coal Infr Grp (Australia, 137.1), Phu Bia Mining Ltd (Laos, 25.5), Loy Yang Power Projects(Australia, 29.3), Hills Motorway Management Ltd (Australia, 121.7), QPH Finance Co Pty Ltd (Australia, 141.8)18 DBS 1,081.5 1.1 8 SportsHub Pte Ltd (Singapore, 101.1), Venetian Orient Ltd (Macau, 175.0), Hazelwood Power Fin Pty Ltd (Australia,44.5), Galaxy Entertainment Finance (Macau, 288.8), Newcastle Coal Infr Grp (Australia, 137.1), Protelindo(Indonesia, 47.5), HPCL Mittal Energy Ltd (India, 187.5), Woodside Finance Ltd (Australia, 100.0)19 Siam Commercial Bank 936.0 1.0 10 Hongsa Power Co Ltd (Laos, 321.7), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Chachoengsao CogenerationCo (Thailand, 75.7), Combined Heat and Power Co Ltd (Thailand, 74.2), Industrial Cogen Co Ltd (Thailand, 71.9),Pathum Cogeneration Co Ltd (Thailand, 74.9), RIL Cogeneration Co Ltd (Thailand, 73.7), Saraburi A Cogeneration CoLtd (Thailand, 74.1), Saraburi B Cogeneration Co Ltd (Thailand, 73.8), Natural Energy Dvlp Co Ltd (Thailand, 35.8)20 West[ac 863.9 0.9 13 Collgar (Australia, 49.6), Hazelwood Power Fin Pty Ltd (Australia, 44.5), Integra Mining Ltd (Australia, 26.5), TPGTelecom Ltd (Australia, 87.0), TSIF-Borrowing Base Facility (Australia, 60.0), LCT-MRE Nominees Pty Ltd (Australia,79.6), WSO Finance Pty Ltd (Australia, 67.5), Aust Pac Airports Melbourne (Australia, 77.0), Aust Pac AirportsMelbourne (Australia, 67.4), Loy Yang Power Projects (Australia, 29.3), WestNet Rail Holdings No.1 (Australia, 89.0),Sydney Airport Fin Co Pty Ltd (Australia, 131.0), DBNGP Finance Co Pty Ltd (Australia, 55.5)21 Mizuho Financial 847.9 0.9 10 PTL (India, 70.6), PT Cirebon Electric Power (Indonesia, 148.8), Paiton III Project (Indonesia, 186.2), Ehime HospitalPartner Co (Japan, 30.2), Water Next Yokohama Ltd (Japan, 153.9), PFI Onojo Corp (Japan, 29.3), Loy Yang PowerProjects (Australia, 29.3), WestNet Rail Holdings No.1 (Australia, 89.0), Woodside Finance Ltd (Australia, 100.0), PFIKyodai Katsura Butsurikei (Japan, 10.6)22 HSBC 840.9 0.9 8 SportsHub Pte Ltd (Singapore, 150.0), Paiton III Project (Indonesia, 186.2), Pyrenees Energy (Australia, 37.4), MTPHPPO Manufacturing Co Ltd (Thailand, 60.4), Galaxy Entertainment Finance (Macau, 288.8), Yeong Yang Wind Farm(South Korea, 31.2), AEI/NBT Wind Farm Project (China, 29.3), Jhajjar Power Ltd (India, 57.6)23 Bank of India 830.3 0.8 2 Oriental Nagpur Construction (India, 138.9), GCEPL (India, 691.4)24 RBS 816.1 0.8 7 Utkal Alumina Intl Ltd (India, 349.8), Hazelwood Power Fin Pty Ltd (Australia, 44.5), Southern Way Finance Pty Ltd(Australia, 73.3), MVML (India, 110.1), Protelindo (Indonesia, 47.5), TSIF-Borrowing Base Facility (Australia, 60.0),Sydney Airport Fin Co Pty Ltd (Australia, 131.0)25 Yes Bank 680.5 0.7 7 Celebi Delhi Cargo Terminal (India, 41.0), Patna Highway Projects Limited (India, 181.7), Essar Bulk Terminal Paradip(India, 45.6), Essar Power Orissa Limited (India, 56.8), Farakka Raiganj Highways Ltd (India, 159.4), Raiganj DalkholaHighways Ltd (India, 71.3), Baharampore Farakka Highways (India, 124.8)26 ICBC 625.3 0.6 4 Venetian Orient Ltd (Macau, 175.0), Galaxy Entertainment Finance (Macau, 288.8), Newcastle Coal Infr Grp(Australia, 137.1), Western Energy Pty Ltd (Australia, 24.5)27 ING 580.2 0.6 4 PT Cirebon Electric Power (Indonesia, 148.8), Paiton III Project (Indonesia, 186.2), KSPC (Philippines, 23.3), CanadoilPlate Ltd (Thailand, 221.9)28 Natixis 577.3 0.6 5 SportsHub Pte Ltd (Singapore, 150.0), TPG Telecom Ltd (Australia, 87.0), WSO Finance Pty Ltd (Australia, 67.5),Sydney Airport Fin Co Pty Ltd (Australia, 131.0), QPH Finance Co Pty Ltd (Australia, 141.8)29 Krung Thai Bank 541.7 0.6 3 Hongsa Power Co Ltd (Laos, 321.7), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Rojana Power Co Ltd (Thailand,159.6),30 OCBC 521.0 0.5 5 SportsHub Pte Ltd (Singapore, 101.1), Venetian Orient Ltd (Macau, 175.0), MTP HPPO Manufacturing Co Ltd(Thailand, 60.4), Newcastle Coal Infr Grp (Australia, 137.1), Protelindo (Indonesia, 47.5)31 WestLB 514.2 0.5 7 SportsHub Pte Ltd (Singapore, 101.1), Collgar (Australia, 49.6), Pyrenees Energy (Australia, 37.4), Hazelwood PowerFin Pty Ltd (Australia, 44.5), Southern Way Finance Pty Ltd (Australia, 73.3), Ageis Securitisation Nominees (Australia,66.5), QPH Finance Co Pty Ltd (Australia, 141.8)32 Bajaj Consultants 471.1 0.5 1 MEP Toll Road Pvt Ltd (India, 471.1)33 Bank of Ayudhya 431.7 0.4 2 Hongsa Power Co Ltd (Laos, 321.7), Thai National Power Co Ltd (Thailand, 110.0)

64 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals34 Woori Financial 423.3 0.4 7 Yangsan Ecoline II (South Korea, 35.4), Jin Joo Ecoline (South Korea, 96.6), TY E&E (South Korea, 24.6), Mirae Corp(South Korea, 41.9), Humphreys SLQ One Co Ltd (South Korea, 73.4), Puren Saenggak Corp (South Korea, 49.0),Chuncheon Malgeun Mulgil Corp (South Korea, 102.5)35 Bangkok Bank 417.9 0.4 3 Hongsa Power Co Ltd (Laos, 321.7), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Natural Energy Dvlp Co Ltd(Thailand, 35.8)36 TMB Bank 414.5 0.4 2 Hongsa Power Co Ltd (Laos, 321.7), Canadoil Plate Ltd (Thailand, 92.8)37 Government Savings 321.7 0.3 1 Hongsa Power Co Ltd (Laos, 321.7)Bank of Thailand=37 Siam City Bank 321.7 0.3 1 Hongsa Power Co Ltd (Laos, 321.7)=37 Thai Exim Bank 321.7 0.3 1 Hongsa Power Co Ltd (Laos, 321.7)40 Standard Chartered 312.0 0.3 5 SportsHub Pte Ltd (Singapore, 101.1), MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), GN Power (Philippines,45.4), Protelindo (Indonesia, 47.5), Jhajjar Power Ltd (India, 57.6)41 BBVA 308.0 0.3 4 Pyrenees Energy (Australia, 37.4), Southern Way Finance Pty Ltd (Australia 73.3), QPH Finance Co Pty Ltd (Australia,141.8), DBNGP Finance Co Pty Ltd (Australia, 55.5)42 Metropolitan Bank & Trust 303.7 0.3 1 Panay Energy Development Corp (Philippines, 303.7)43 UOB 299.9 0.3 4 Hazelwood Power Fin Pty Ltd (Australia, 44.5), Newcastle Coal Infr Grp (Australia, 137.1), Loy Yang Power Projects(Australia, 29.3), WestNet Rail Holdings No.1 (Australia, 89.0)44 Scotiabank-Bank of Nova Scotia298.7 0.3 3 Aust Pac Airports Melbourne (Australia, 77.0), Woodside Finance Ltd (Australia, 100.0), Hills Motorway ManagementLtd (Australia, 121.7)45 Bank of America Merrill Lynch 275.5 0.3 3 Hazelwood Power Fin Pty Ltd (Australia, 44.5), Woodside Finance Ltd (Australia, 100.0), Sydney Airport Fin Co Pty Ltd(Australia, 131.0)46 KB Financial 256.0 0.3 1 Machang Bridge Co Ltd (South Korea, 256.0)47 Societe Generale 252.9 0.3 5 MTP HPPO Manufacturing Co Ltd (Thailand, 60.4), Hazelwood Power Fin Pty Ltd (Australia, 44.5), TPG Telecom Ltd(Australia, 87.0), Loy Yang Power Projects (Australia, 29.3), Gansu Guazhou Ganhekou No 8 (China, 31.7)48 KBC Group 203.7 0.2 3 Pyrenees Energy (Australia, 37.4), Newcastle Coal Infr Grp (Australia, 137.1), Loy Yang Power Projects (Australia,29.3)49 Barclays Capital 199.7 0.2 2 Venetian Orient Ltd (Macau, 175.0), Kanmantoo Copper & Gold Mine (Australia, 24.7)50 Banco Nacional Ultramarino 175.0 0.2 1 Venetian Orient Ltd (Macau, 175.0)=50 Citi 175.0 0.2 1 Venetian Orient Ltd (Macau, 175.0)=50 Goldman Sachs 175.0 0.2 1 Venetian Orient Ltd (Macau, 175.0)=50 UBS 175.0 0.2 1 Venetian Orient Ltd (Macau, 175.0)54 Development Bank of Japan 157.0 0.2 4 Gotemba Gakko Kyusyoku PFI Ltd (Japan, 10.1), Loy Yang Power Projects (Australia, 29.3), Mine Social Rehabilitation(Japan, 17.6), Woodside Finance Ltd (Australia, 100.0)55 Export Development Canada 137.1 0.1 1 Newcastle Coal Infr Grp (Australia, 137.1)=55 KfW Bankengruppe 137.1 0.1 1 Newcastle Coal Infr Grp (Australia, 137.1)57 Intesa SanPaolo 131.7 0.1 2 Woodside Finance Ltd (Australia, 100.0), Gansu Guazhou Ganhekou No 8 (China, 31.7)58 JP Morgan 131.0 0.1 1 Sydney Airport Fin Co Pty Ltd (Australia, 131.0)59 L&T Infra Finance 129.8 0.1 2 L&T Uttaranchal Hydropower Ltd (India, 84.3), Essar Bulk Terminal Paradip (India, 45.6)60 Banco De Oro Unibank 125.4 0.1 2 GN Power (Philippines, 45.4), STEAG State Power Inc (Philippines, 80.0)61 Industry Funds Svcs 123.1 0.1 2 WSO Finance Pty Ltd (Australia, 67.5), DBNGP Finance Co Pty Ltd (55.5)62 Credit Mutuel 121.5 0.1 2 Hazelwood Power Fin Pty Ltd (Australia, 44.5), Aust Pac Airports Melbourne (Australia, 77.0)63 Canara Bank 110.1 0.1 1 MVML (India, 110.1)64 DnB NOR BANK 100.0 0.1 1 Woodside Finance Ltd (Australia, 100.0)65 Shinkin Central Bank 74.6 0.1 1 Shimizu Bunka Jigyo Support KK (Japan, 74.6)66 Bank of Ireland 73.3 0.1 1 Southern Way Finance Pty Ltd (Australia, 73.3)=66 Santander 73.3 0.1 1 Southern Way Finance Pty Ltd (Australia, 73.3)68 Macquarie 69.2 0.1 2 Gold Coast University Car Park (Australia, 44.6), Kanmantoo Copper & Gold Mine (Australia, 24.7)69 Bendigo & Adelaide Bank 66.5 0.1 1 Ageis Securitisation Nominees (Australia, 66.5)70 Mega Financial 60.4 0.1 1 MTP HPPO Manufacturing Co Ltd (Thailand, 60.4)71 RBC Capital Markets 60.0 0.1 1 TSIF-Borrowing Base Facility (Australia, 60.0)72 Land Bank of Taiwan 59.3 0.1 1 Kuo Yang Environmental Science (Taiwan, 59.3)

http://www.pfie.com13 January 2011 | pfi| 65ASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals73 Export-Import Bank of China 57.6 0.1 1 Jhajjar Power Ltd (India, 57.6)74 Westbourne Capital 55.5 0.1 1 DBNGP Finance Co Pty Ltd (Australia, 55.5)75 Investec 54.8 0.1 2 Phu Bia Mining Ltd (Laos, 25.5), Loy Yang Power Projects (Australia, 29.3)76 National Pension Fund 51.2 0.1 1 Jeongok-Pocheon Residence (South Korea, 51.2)77 Resona Holdings 50.4 0.1 1 Suita Minami Senri PFI (Japan, 50.4)78 GE Capital 48.3 0.1 1 Inalco (Australia, 48.3)79 Bank Central Asia 47.5 0.1 1 Protelindo (Indonesia, 47.5)=79 CIMB 47.5 0.1 1 Protelindo (Indonesia, 47.5)=79 Pan Indonesia Bank 47.5 0.1 1 Protelindo (Indonesia, 47.5)82 Bank of Philippine Islands 45.4 0.1 1 GN Power (Philippines, 45.4)=82 China Banking Corp 45.4 0.1 1 GN Power (Philippines, 45.4)=82 Security Bank & Trust 45.4 0.1 1 GN Power (Philippines, 45.4)85 Dexia SA 44.6 0.1 1 Hazelwood Power Fin Pty Ltd (Australia, 44.6)=85 Lloyds Banking 44.6 0.1 1 Hazelwood Power Fin Pty Ltd (Australia, 44.6)=85 Nord/LB 44.6 0.1 1 Hazelwood Power Fin Pty Ltd (Australia, 44.6)88 Mirae Asset Securities 43.1 0.0 1 SMRT (South Korea, 43.1)89 Rabobank 31.7 0.0 1 Gansu Guazhou Ganhekou No 8 (China, 31.7)90 Aozora Bank Ltd 29.3 0.0 1 AEI/NBT Wind Farm Project (China, 29.3)=90 Bank Communications 29.3 0.0 1 Loy Yang Power Projects (Australia, 29.3)=90 Sumitomo Trust & Banking 29.3 0.0 1 Loy Yang Power Projects (Australia, 29.3)=90 Taiwan Business Bank 29.3 0.0 1 Loy Yang Power Projects (Australia, 29.3)94 Korea Finance Corporation 24.6 0.0 1 TY E&E (South Korea, 24.6)95 Bank Negara Indonesia 16.0 0.0 1 PT Benakat Barat Petroleum (Indonesia, 16.0)=95 Standard Bank 16.0 0.0 1 PT Benakat Barat Petroleum (Indonesia, 16.0)97 RMB Holdings 11.7 0.0 1 Bass Metals Ltd-Ast (Australia, 11.7)98 Shiga Bank 10.6 0.0 1 PFI Kyodai Katsura Butsurikei (Japan, 10.6)Total* 98,708.3 100.0 243Proportional CreditSource: Thomson ReutersASIA PACIFIC LOANS BY SECTORASIA PACIFIC LOANS BY COUNTRYSectorVolume (US$m)Power 36,951.2Transportation 26,009.3Telecommunications 12,562.2Leisure & property 5,640.1Industry 4,935.3Mining 4,136.5Oil & gas 3,817.1Petrochemicals 3,614.6Water & sewerage 982.7Waste & recycling 59.3Total 98,708.3No ofNation US$m % dealsIndia 54,801.7 55.5 138Australia 14,592.1 14.8 32Taiwan 12,064.4 12.2 2Laos 2,997.1 3.0 2Macau 2,905.1 2.9 2Thailand 2,818.4 2.9 13South Korea 2,714.9 2.8 31Indonesia 2,405.3 2.4 4Singapore 1,307.8 1.3 1Philippines 1,173.7 1.2 4Japan 681.7 0.7 11China 153.6 0.2 2Bhutan 92.6 0.1 1Total 98,708.3 100.0 243

66 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA INITIAL MANDATED LEAD ARRANGERSLead manager Volume (U$Sm) % No of deals Deals1 BNP Paribas 6,612.9 7.9 49 Exeltium Virtual Power Station (France, 354.4), Jubilee Oil Field Offshore (Ghana, 100.0), Castor Underground GasStorage (Spain, 88.7), RAVE High-Speed Rail Link (Portugal, 199.2), Flemish Schl Rvtlistion Prgram (Belgium, 215.4),Baobab Oilfield Development (Ivory Coast, 200.0), Eirgrid-Interconner (Ireland Rep, 316.0), II Primo PV (Italy, 46.2),Glenkerie Wind Farm (United Kingdom, 24.0), Nord Stream AG (Switzerland, 358.1), Turin Waste to Energy Plant(Italy, 583.9), Skarv Oil Field (Norway, 57.1), Bicker Fen/Walkway Wind Farm (United Kingdom, 33.1), TCA (Spain,47.2), Absoluvent SAS Wind (France, 41.0), Autopista de la Costa del Sol (Spain, 133.8), Kliplev-SonderborgMotorway (Denmark, 36.7), Lumwana Mining Company (Zambia, 100.0), Hill of Towie Wind (United Kingdom, 63.2),RAVE High-Speed Rail Link (Portugal, 24.3), DIRPA Srl (Italy, 268.0), Ebok-Okwok-OML 115 (Nigeria, 150.0), PerencoPetroleum Ltd (United Kingdom, 551.0), Garbadan PV (France, 33.3), Autopista del Sol (Spain, 133.8), Fujairah OilStorage (Utd Arab Em, 32.5), Ma'aden Phosphate Company (Saudi Arabia, 170.0), Porterbrook Acquisition (UnitedKingdom, 210.4), Devon Oil & Gas Assets (Ivory Coast, 7.0), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3),Moatize Tranship (Italy, 45.0), Flemish Bus Depots (Belgium, 38.4), EMAL (Utd Arab Em, 70.0), OML 26 Oil Field(Nigeria, 187.0), Solacor Electricidad Uno SA (Spain, 143.9), High Speed 1 Rail Sale (United Kingdom, 245.1), JubileeOil Field Offshore (Ghana, 38.9), Energy 21 PV Porfolio (Czech Republic, 48.9), A15 Maasvlakte-Vaanplein(Netherlands, 175.4), A12 Veenendaal to Utrecht PPP (Netherlands, 71.9), Endesa Gas Distribution (Spain, 106.0),Okoro Setu (Nigeria, 80.0), Green Hill Energy Ltd (United Kingdom, 44.5), Andromeda PV Srl (Italy, 143.9), Lavansol 1(France, 140.9), Thyssengas GmbH (Germany, 139.3), Aseng Production Co Ltd (Equatorial Guinea, 50.0), AntwerpStorage Terminal (Belgium, 109.6), Eupen and Kelmis Schools (Belgium, 48.9)2 Credit Agricole 4,644.4 5.5 42 Exeltium Virtual Power Station (France, 354.4), Egyptian Refinery Company (Egypt, 84.4), Helioenergy Solar Thermal(Spain, 21.6), Jubilee Oil Field Offshore (Ghana, 100.0), Castor Underground Gas Storage (Spain, 88.7), GSM-R(France, 95.7), Jubail Petrochemical Plant (Saudi Arabia, 155.8), II Primo PV (Italy, 46.2), Nord Stream AG(Switzerland, 358.1), Riyad Independent Power Plant (Saudi Arabia, 111.4), Skarv Oil Field (Norway, 57.1),Southmead Hospital (United Kingdom, 115.0), CEI Building Portfolio (France, 105.5), Caceres Photovoltaic Plant(France, 28.2), Hautes-Pyrenees Telecom (France, 48.1), Croix de Cuitot (France, 7.1), HSBC Rail Acquisition (UnitedKingdom, 332.7), Bogunchanskaya AluminumSmelter (Russian Fed, 65.0), Ebok-Okwok-OML 115 (Nigeria, 150.0),Perenco Petroleum Ltd (United Kingdom, 551.0), Gulf United Steel Co (Bahrain, 120.0), Helioenergy Solar Thermal(Spain, 21.6), Azurite Oil Field (Dem Rep Congo, 124.9), Porterbrook Acquisition (United Kingdom, 210.4), Barqa 3IPP (Oman, 88.0), Sohar 2 IPP (Oman, 82.2), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3), Nya KarolinskaSolna Hospital (Sweden, 63.5), Reggio Toll Roa (Italy, 26.8), Pamplona - Lagrono Motorway (Spain, 64.7),EMAL (UtdArab Em, 70.0), Tanquid Zweite Autobahn Tank (Germany, 42.8), SunEdison-Rovigo Solar Plant (Italy, 55.6), JubileeOil Field Offshore (Ghana, 38.9), Aioliki & Lakonias CCGT (Greece, 37.4), Endesa Gas Distribution (Spain, 106.0),Marseille Stadium (France, 123.9), Altice Blue One Expansion (France, 3.8), O3b Networks Satellite (South Africa,127.5), Heron II (Greece, 88.9),Islington BSF 2 (United Kingdom, 25.2), Thyssengas GmbH (Germany, 139.3)3 Societe Generale 4,270.8 5.1 37 Exeltium Virtual Power Station (France, 354.4), Thornton Bank Wind Farm (Belgium, 134.1), Egyptian RefineryCompany (Egypt, 84.4), Helioenergy Solar Thermal (Spain, 21.6), Castor Underground Gas Storage (Spain, 88.7),Jubail Petrochemical Plant (Saudi Arabia, 155.8), II Primo PV (Italy, 46.2), Nord Stream AG (Switzerland, 358.1), RiyadIndependent Power Plant (Saudi Arabia, 111.4), Skarv Oil Field (Norway, 57.1), Eje Diagonal (United Kingdom, 61.1),Southmead Hospital (United Kingdom, 115.0), GDF Curbans PV (France, 64.2), Autopista de la Costa del Sol (Spain,133.8), HSBC Rail Acquisition (United Kingdom, 332.7), Veronagest-Sicily PV Plant (Italy, 33.0), Perenco PetroleumLtd (United Kingdom, 551.0), Chalons en Champagne Center (France, 24.0), Garbadan PV (France, 33.3), Gulf UnitedSteel Co (Bahrain, 120.0), Autopista del Sol (Spain, 133.8), Helioenergy Solar Thermal (Spain, 21.6), La Faye EnergiesWind (France, 15.7), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3), Rocade de Tarbes Bypass (France, 98.0),Brunswick Rail Expansion (Russian Fed, 150.0), SunEdison-Rovigo Solar Plant (Italy, 55.6), Paris CCTV (France,173.9), CPE Lycees du Centre (France, 50.0), Jubilee Oil Field Offshore (Ghana, 38.9), A15 Maasvlakte-Vaanplein(Netherlands, 175.4), EHPAD Chalon sur Saone (France, 39.7), Murcia Tramway (Spain, 52.0), AES Solar Energy PVPortfolio (Italy, 69.1), Andromeda PV Srl (Italy, 143.9), Saelices Y Ampliacones PV (Spain, 30.3), T Solar CuencaCordoba PV (Spain, 35.8)4 Santander 2,971.7 3.5 36 Exeltium Virtual Power Station (France, 354.4), Helioenergy Solar Thermal (Spain, 21.6), Castor Underground GasStorage (Spain, 88.7), Puig de les Basses (Spain, 34.1), RAVE High-Speed Rail Link (Portugal, 199.2), GSM-R (France,95.7), Fotowatio Fiumicino PV Plant (Italy, 25.8), Eje Diagonal (Spain, 61.1), Barcelona Metro Line 9 Train (Spain,166.7), CEI Building Portfolio (France, 105.5), Pinhal Interior Shadow Toll (Portugal, 158.2), ENEOP 2 Windpark

http://www.pfie.com13 January 2011 | pfi| 67EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals4...ctd.(Spain, 81.0), Autopista de la Costa del Sol (Spain, 133.8), Castellon Zone 1 Ecopark (Spain, 22.6), Eolica delGuadiana SL (Spain, 32.9), UTE Teconma Azahar Ecodeco (Spain, 23.7), Badajoz Solar Thermal Plant (Spain, 65.5),RAVE High-Speed Rail Link (Spain, 24.3), Bajoz & Hornija Eolica SL (Spain, 21.9), Autopista del Sol (Spain, 133.8),Autovia del Pirineo A21 (Spain, 31.7), Helioenergy Solar Thermal (Spain, 21.6), Promociones Fotovolaticas (Spain,3.5), Concessio Estacions Aeroport (Spain, 163.7), Linea 9 Subway Station (Spain, 114.6), Esquilvent Eolic Farm(Spain, 46.5), Ibereolica Solar Moron SL (Spain, 44.5), SunEdison-Rovigo Solar Plant (Italy, 55.6), Barcelona MetroLine 9 Train (Spain, 116.9), High Speed 1 Rail Sale (United Kingdom, 245.1), Endesa Gas Distribution (Spain, 106.0),Murcia Tramway (Spain, 52.0), Manises Waste Treatment Plant (Spain, 30.8), Ute Los Hornillos Waste Mgmt (Spain,22.9), Saelices Y Ampliacones PV (Spain, 30.3), T Solar Cuenca Cordoba PV (Spain, 35.8)5 Dexia 2,789.4 3.3 40 Thornton Bank Wind Farm (Belgium, 134.1), Borkum West II Offshore (Germany, 79.8), Castor Underground GasStorage (Spain, 88.7), Puig de les Basses (Spain, 34.1), Flemish Schl Rvtlistion Prgram (Belgium, 215.4), GSM-R(France, 95.7), II Primo PV (Italy, 46.2), Birmingham Highways Mgt PFI (United Kingdom, 78.0), Eje Diagonal (Spain,61.0), Barcelona Metro Line 9 Train (Spain, 166.7), CEI Building Portfolio (France, 105.5), Rinza Industrial Dump(Spain, 18.8), Absoluvent SAS Wind (France, 41.0), Veronagest-Sicily PV Plant (Italy, 33.0), CPA Treatment (France,38.6), Garbadan PV (France, 33.0), Senior Schelde Invest (Belgium, 197.0), Tameside BSF 2 (United Kingdom, 53.9),Autovia del Pirineo A21 (Spain, 31.7), Majorca Desalination Plant (Spain, 32.7), Porterbrook Acquisition (UnitedKingdom, 210.4), Verdun sur Garonne's Bridge (France, 19.6), Pamplona - Lagrono Motorway (Spain, 64.7),Modifiers Lledoners Prison (Spain, 15.9), UTE Costa Brava (Spain, 25.7), Concessio Estacions Aeroport (Spain, 163.7),SunEdison-Rovigo Solar Plant (Italy, 55.6), Gesmat Toledo Waste Treatment (Spain, 32.6), Villanueva de la Serena PV(Spain, 24.1), UTE Red de Plataformas (Spain, 33.0), Southwark BSF 2 (United Kingdom, 41.5), Somerset BSF (UnitedKingdom, 50.1), Blackburn BSF 2 (United Kingdom, 45.5), Hesdinois Aquatic Center (France, 23.9), AES Solar EnergyPV Portfolio (Italy, 69.1), O3b Networks Satellite (South Africa, 127.5), Ealing BSF (United Kingdom, 16.4), OldhamBSF (United Kingdom, 31.1), Ibiza Hospital (Spain, 35.9), M45 Ring Road O'Donnell-NII (Spain, 118.2)6 UniCredit Group 2,683.4 3.2 42 Thiene-Schio Hospital (Italy, 58.4), Borkum West II Offshore (Germany, 79.8), Sakarya Distribution Grid (Turkey,150.0), Bandirma Port Privatization (Turkey, 78.4), Suvorovo Windfarm (Bulgaria, 23.8), Bodduso Wind (Italy, 48.6),II Primo PV (Italy, 46.2), Nord Stream AG (Switzerland, 358.1), Skarv Oil Field (Norway, 57.1), Monte MimianiWindfarm (Italy, 35.6), Sorgenia Solar Power (Italy, 47.8), Camas Energy Srl (Italy, 62.0), Veronagest-Sicily PV Plant(Italy, 33.0), CHP-2 Reconstruction (Latvia, 29.8), Rocchetta[Apulia]Wind Farm (Italy, 13.3), Solar Power Plant Veprek(Czech Rep, 129.3), Aero Rossa Wind Farm (italy, 26.8), Avelar Fotovoltaico (Italy, 20.4), Torchiarolo PV Plant (Italy,19.6), Ravenna Solar PV (Italy, 29.8), Apuseni Gold (Romania, 27.0), OAO Gazprom-Yuzhno-Russkoye (Russian Fed,107.3), ATO5 Toscana Costa (Italy, 22.7), Moatize Tranship (Italy, 45.0), Val Di Chineti Scpa (Italy, 47.4), RETA PVPortfolio (Czech Rep, 29.1), Brunswick Rail Expansion (Russian Fed, 150.0), SunEdison-Rovigo Solar Plant (Italy,55.6), 9REN-Five PV Portfolio (Italy, 34.4), ARGI (Italy, 31.6), Aioliki & Lakonias CCGT (Greece, 37.4), A15 Maasvlakte-Vaanplein (Netherlands, 175.4), Catania Photovoltaic Plant (Italy, 117.2), Daunia Savignano Srl (Italy, 30.6),Margonin Wind Farm (Poland, 13.9), Macchia Rotonda Srl (Italy, 74.2), Societa Agricola Solar Farm 4 (Italy, 53.9),Altice Blue One Expansion (France, 3.8), Valmontone Energia Srl (Italy, 38.7), Wind Park Viotias Kledros (Greece,34.5), Thyssengas GmbH (Germany, 139.3), Dundee Mining (Bulgaria, 66.8)7 Caja Madrid 2,608.9 3.1 27 Helioenergy Solar Thermal (Spain, 21.6), Castor Underground Gas Storage (Spain, 88.7), Nord Stream AG(Switzerland, 358.1), Barcelona Metro Line 9 Train (Spain, 166.7), Jumilla Solar PV (Spain, 10.6), Pinhal InteriorShadow Toll (Portugal, 158.2), ENEOP 2 Windpark (Portugal, 81.0), Autopista de la Costa del Sol (Spain, 133.8),Sagunto Second Expansion (Spain, 42.2), Badajoz Solar Thermal Plant (Spain, 65.5), UTE Hydraulic Infrastructure(Spain, 18.2), T Solar Autonoma (Spain, 3.3), Villavaliente Solar Dos SL (Spain, 15.1), Autopista del Sol (Spain, 133.8),Ecoparc del Besos S.A (Spain, 12.4), R-III/IV Radial Road Project (Spain, 486.1), Helioenergy Solar Thermal (Spain,21.6), Pamplona - Lagrono Motorway (Spain, 64.7), UTE Costa Brava (Spain, 25.7), Concessio Estacions Aeroport(Spain, 163.7), Linea 9 Subway Station (Spain, 114.6), Ibereolica Solar Moron SL (Spain, 44.5), Barcelona Metro Line9 Train (Spain, 116.9), Endesa Gas Distribution (Spain, 106.0), Centros Docentes Fundacion (Spain, 9.5), M45 RingRoad O'Donnell-NII (Spain, 118.2), Metro Barajas Linea 8 de Metro (Spain, 28.5)8 Natixis 2,566.1 3.1 25 Exeltium Virtual Power Station (France, 354.4), Castor Underground Gas Storage (Spain, 88.7), BirminghamHighways Mgt PFI (United Kingdom, 78.0), Skarv Oil Field (Norway, 57.1), CEI Building Portfolio (France, 105.5), Croixde Cuitot (France, 7.1), Ebok-Okwok-OML 115 (Nigeria, 150.0), Perenco Petroleum Ltd (United Kingdom, 551.0), LaCastilleja Solar PV (Spain, 27.8), Fujairah Oil Storage (Utd Arab Em, 32.5), Barqa 3 IPP (Oman, 88.0), Sohar 2 IPP

68 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals8...ctd.(Oman, 82.2), Minerva Messina Srl (Italy, 40.1), Nya Karolinska Solna Hospital (Sweden, 63.5), EMAL (Utd Arab Em,70.0), SunEdison-Rovigo Solar Plant (Italy, 55.6), 9REN-Five PV Portfolio (Italy, 34.4), Jubilee Oil Field Offshore(Ghana, 38.9), Endesa Gas Distribution (Spain, 106.0), Marseille Stadium (France, 123.9), Solucia Renovables 1 SL(Spain, 104.1), Linea Nueve Tramo Dos SA (Spain, 179.9), Etrion-Lazio/Apulia PV (Italy, 41.8), Aseng Production CoLtd (Equatorial Guinea, 50.0), Ibiza Hospital (Spain, 35.9)9 BBVA 2,426.5 2.9 36 GSM-R (France, 95.7), Barcelona Metro Line 9 Train (Spain, 166.7), Loures Hospital (Portugal, 28.4), TCA (Spain,47.2), Caceres Photovoltaic Plant (Spain, 28.2), Pinhal Interior Shadow Toll (Portugal, 158.2), ENEOP 2 Windpark(Portugal, 81.0), Autopista de la Costa del Sol (Spain, 133.8), Castellon Zone 1 Ecopark (Spain, 22.6), Eolica delGuadiana SL (Spain, 32.9), Kliplev-Sonderborg Motorway (Denmark, 36.7), UTE Teconma Azahar Ecodeco (Spain,23.7), Badajoz Solar Thermal Plant (Spain, 65.5), UTE Hydraulic Infrastructure (Spain, 18.2), Bajoz & Hornija Eolica SL(Spain, 21.9), Garbadan PV (France, 33.3), Autopista del Sol (Spain, 133.8), Ecoparc del Besos S.A (Spain, 12.4),Autovia del Pirineo A21 (Spain, 31.7), Puerta Maritima Ondara (Spain, 27.3), Promociones Fotovolaticas (Spain, 3.5),Nya Karolinska Solna Hospital (Sweden, 63.5), Val Di Chineti Scpa (Italy, 47.4), Concessio Estacions Aeroport (Spain,163.7), Linea 9 Subway Station (Spain, 114.6), Esquilvent Eolic Farm (Spain, 46.5), Ibereolica Solar Moron SL (Spain,44.5), Barcelona Metro Line 9 Train (Spain, 116.9), ARGI (Italy, 31.6), Endesa Gas Distribution (Spain, 106.0),Islington BSF 2 (United Kingdom, 25.2), Linea Nueve Tramo Dos SA (Spain, 179.9), Sociedad de Economia Mixta Los(Spain, 41.7), Comunidad Valenciana Waste (Spain, 41.4), Casega Water Utility (Spain, 173.9), Sistemas EnergeticsConesa SL (Spain, 27.3)10 ING 2,347.9 2.8 19 FPSO Sevan Voyageur Scheme (United Kingdom, 230.0), Castor Underground Gas Storage (Spain, 88.7), BoddusoWind (Italy, 48.6), Nord Stream AG (Switzerland, 358.1), HSBC Rail Acquisition (United Kingdom, 332.7), Stade GasPowered Plant (Germany, 71.4), R-III/IV Radial Road Project (Spain, 486.1), Fujairah Oil Storage (Utd Arab Em, 32.5),Apuseni Gold (Romania, 27.0), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3), FX Energy Gas Field (Poland,24.0), Endesa Gas Distribution (Spain, 106.0), Glas Dowr FPSO (Netherlands, 60.0), Altice Blue One Expansion(France, 3.8), O3b Networks Satellite (South Africa, 127.5), Aseng Production Co Ltd (Equatorial Guinea, 50.0), IbizaHospital (Spain, 35.9), Antwerp Storage Terminal (Belgium, 109.6), Eupen and Kelmis Schools (Belgium, 48.9)11 SMBC 2,229.1 2.7 18 Helioenergy Solar Thermal (Spain, 21.6), Flemish Schl Rvtlistion Prgram (Belgium, 215.4), GSM-R (France, 95.7),Jubail Petrochemical Plant (Saudi Arabia, 155.8), Nord Stream AG (Switzerland, 358.1), Fotowatio Fiumicino PV Plant(Italy, 25.8), Blackburn/Bolton BSF (United Kingdom, 28.3), Kliplev-Sonderborg Motorway (Denmark, 36.7), HSBCRail Acquisition (United Kingdom, 332.7), Gulf United Steel Co (Bahrain, 120.0), Helioenergy Solar Thermal (Spain,21.6), Porterbrook Acquisition (United Kingdom, 210.4), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3),Solacor Electricidad Uno SA (Spain, 143.9), Catania Photovoltaic Plant (Italy, 117.2), Somerset BSF (United Kingdom,50.1), Aseng Production Co Ltd (Equatorial Guinea, 50.0), Solaben Solar CSP (Spain, 138.5)12 RBS 2,066.5 2.5 18 Jubilee Oil Field Offshore (Ghana, 100.0), Jubail Petrochemical Plant (Saudi Arabia, 155.8), Nord Stream AG(Switzerland, 358.1), Southmead Hospital (United Kingdom, 114.9), Bridge North Sea Ltd (United Kingdom, 18.1),Norfolk/Suffolk Police (United Kingdom, 33.0), Belmarsh Prison (United Kingdom, 49.4), HSBC Rail Acquisition(United Kingdom, 332.7), Bogunchanskaya AluminumSmelter (Russian Fed, 65.0), Jacktel Accommdation Rig(Norway, 69.8), FX Energy Gas Field (Poland, 24.0), Corkermore Wind Farm/Breeze (Ireland Rep, 5.2), High Speed 1Rail Sale (United Kingdom, 245.1), A15 Maasvlakte-Vaanplein (Netherlands, 175.4), Endesa Gas Distribution (Spain,106.0), Glas Dowr FPSO (Netherlands, 60.0), Solucia Renovables 1 SL (Spain, 104.1), Aseng Production Co Ltd(Equatorial Guinea, 50.0)13 Caixa d'Estalvis y Pensions 1,914.4 2.3 27 Helioenergy Solar Thermal (Spain, 21.6), Castor Underground Gas Storage (Spain, 88.7), Puig de les Basses (Spain,34.1), Eje Diagonal (Spain, 61.1), Barcelona Metro Line 9 Train (Spain, 166.7), Rinza Industrial Dump (Spain, 18.7),Pinhal Interior Shadow Toll (Portugal, 158.2), Aeropuerto de la Region Murcia (Spain, 93.1), Sagunto SecondExpansion (Spain, 42.2), Badajoz Solar Thermal Plant (Spain, 65.5), UTE Hydraulic Infrastructure (Spain, 18.2), Bajoz& Hornija Eolica SL (Spain, 21.9), La Castilleja Solar PV (Spain, 27.8), Carport Sagunto SL (Spain, 25.0), Ecoparc delBesos S.A (Spain, 12.4), Helioenergy Solar Thermal (Spain, 21.6), Puerta Maritima Ondara (Spain, 27.3), ConcessioEstacions Aeroport (Spain, 163.7), Linea 9 Subway Station (Spain, 114.6), Esquilvent Eolic Farm (Spain, 46.5),Ibereolica Solar Moron SL (Spain, 44.5), Barcelona Metro Line 9 Train (Spain, 116.9), Endesa Gas Distribution (Spain,106.0), Linea Nueve Tramo Dos SA (Spain, 179.9), Sociedad de Economia Mixta Los (Spain, 41.7), Ute Los HornillosWaste Mgmt (Spain, 22.9), Casega Water Utility (Spain, 173.9)14 Lloyds Banking Group 1,580.4 1.9 14 Jubilee Oil Field Offshore (Ghana, 100.0), Glenkerie Wind Farm (United Kingdom, 24.0), Birmingham Highways Mgt

http://www.pfie.com13 January 2011 | pfi| 69EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals14 ...ctd. PFI (United Kingdom, 78.0), Bicker Fen/Walkway Wind Farm (United Kingdom, 33.1), Southmead Hospital (UnitedKingdom, 114.9), Norfolk/Suffolk Police (United Kingdom, 33.0), HSBC Rail Acquisition (United Kingdom, 332.7), Hillof Towie Wind (United Kingdom, 63.2), Essex BSF (United Kingdom, 133.9), Porterbrook Acquisition (UnitedKingdom, 210.4), Nya Karolinska Solna Hospital (Sweden, 63.5), High Speed 1 Rail Sale (United Kingdom, 245.1),Green Hill Energy Ltd (United Kingdom, 44.5), Solucia Renovables 1 SL (Spain, 104.1)15 Barclays Capital 1,550.7 1.9 18 Helioenergy Solar Thermal (Spain, 21.6), Jubail Petrochemical Plant (Saudi Arabia, 155.8), Eirgrid-Interconner(Ireland Rep, 316.0), Blackburn/Bolton BSF (United Kingdom, 28.3), Loures Hospital (Portugal, 28.4), Pinhal InteriorShadow Toll (Portugal, 158.2), ENEOP 2 Windpark (Portugal, 81.0), Belmarsh Prison (United Kingdom, 49.4), TamarNatural Gas Plant (Israel, 86.0), Bogunchanskaya AluminumSmelter (Russian Fed, 65.0), Carlisle HospitalsRefinancing (United Kingdom, 102.9), Rocchetta[Apulia]Wind Farm (Italy, 13.3), Tameside BSF 2 (United Kingdom,53.9), Helioenergy Solar Thermal (Spain, 21.6), Porterbrook Acquisition (United Kingdom, 210.1), Brent SocialHousing PFI 2 (United Kingdom, 75.8), Coventry Street Lighting (United Kingdom, 44.5), Jubilee Oil Field Offshore(Ghana, 38.9)16 Intesa SanPaolo 1,472.9 1.8 12 Exeltium Virtual Power Station (France, 354.4), Castor Underground Gas Storage (Spain, 88.7), GSM-R (France,95.7), Bodduso Wind (Italy, 48.6), Nord Stream AG (Switzerland, 358.1), Riyad Independent Power Plant (SaudiArabia, 111.4), Sagunto Second Expansion (Spain, 42.2), Stade Gas Powered Plant (Germany, 71.4), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3), Val Di Chineti Scpa (Italy, 47.4), Catania Photovoltaic Plant (Italy, 117.2),Daunia Savignano Srl (Italy, 30.6)17 KfW Bankengruppe 1,394.1 1.7 13 Thornton Bank Wind Farm (Belgium, 134.1), Egyptian Refinery Company (Egypt, 84.4), Borkum West II Offshore(Germany, 79.8), GSM-R (France, 95.7), Jubail Petrochemical Plant (Saudi Arabia, 155.8), Nord Stream AG(Switzerland, 358.1), Riyad Independent Power Plant (Saudi Arabia, 111.4), Barqa 3 IPP (Oman, 88.0), Sohar 2 IPP(Oman, 82.2), Nya Karolinska Solna Hospital (Sweden, 63.5), Tanquid Zweite Autobahn Tank (Netherlands, 42.8),A12 Veenendaal to Utrecht PPP (Netherlands, 71.9), Erste Puglia Portfolio PV (Italy, 26.5)18 HSBC 1,356.9 1.6 12 Egyptian Refinery Company (Egypt, 84.4), Jubail Petrochemical Plant (Saudi Arabia, 155.8), HSBC Rail Acquisition(United Kingdom, 332.7), Tamar Natural Gas Plant (Israel, 86.0), Dublin EastLink Toll Road (Ireland Rep, Rep 9.0),Barqa 3 IPP (Oman, 88.0), Sohar 2 IPP (Oman, 82.2), EMAL (Utd Arab Em, 70.0), Solacor Electricidad Uno SA (Spain,143.9), Jubilee Oil Field Offshore (Ghana, 38.9), O3b Networks Satellite (South Africa, 127.5), Solaben Solar CSP(Spain, 138.5)19 Caixa Geral de Depositos 1,324.7 1.6 12 RAVE High-Speed Rail Link (Portugal, 199.2), Sines Purified Terephthalic (Portugal, 539.3), Pinhal Interior ShadowToll (Portugal, 158.2), ENEOP 2 Windpark (Portugal, 81.0), RAVE High-Speed Rail Link (Portugal, 24.3), Vila Francade Xira Hospital (Portugal, 56.3), Aguas de Cascais (Portugal, 42.6), Pamplona - Lagrono Motorway (Spain, 64.7),Mafratlantico Vias Rodoviarias (Portugal, 85.1), Auto Estradas Do Norte Road (Portugal, 41.7), Centros DocentesFundacion (Spain, 9.5), Ute Los Hornillos Waste Mgmt (Spain, 22.9)20 Instituto de Credito Oficial 1,180.7 1.4 16 Castor Underground Gas Storage (Spain, 88.7), Barcelona Metro Line 9 Train (Spain, 166.7), TCA (Spain, 47.2),Aeropuerto de la Region Murcia (Spain, 93.1), Badajoz Solar Thermal Plant (Spain, 65.5), Bajoz & Hornija Eolica SL(Spain, 21.9), Pamplona - Lagrono Motorway (Spain, 64.7), Concessio Estacions Aeroport (Spain, 163.7), EsquilventEolic Farm (Spain, 46.5), Ibereolica Solar Moron SL (Spain, 44.5), Gesmat Toledo Waste Treatment (Spain, 32.6),Murcia Tramway (Spain, 52.0), Manises Waste Treatment Plant (Spain, 30.8), Linea Nueve Tramo Dos SA (Spain,179.9), Sociedad de Economia Mixta Los (Spain, 41.7), Comunidad Valenciana Waste (Spain, 41.4)21 Standard Chartered 1,172.4 1.4 12 Egyptian Refinery Company (Egypt, 84.4), Jubilee Oil Field Offshore (Ghana, 100.0), Jubail Petrochemical Plant (SaudiArabia, 155.8), Riyad Independent Power Plant (Saudi Arabia, 111.4), Lumwana Mining Company (Zambia, 100.0),Fujairah Oil Storage (Utd Arab Em, 32.5), Ma'aden Phosphate Company (Saudi Arabia, 170.0), Barqa 3 IPP (Oman,88.0), Sohar 2 IPP (Oman, 82.2), Zain Ghana (Ghana, 77.0), Jubilee Oil Field Offshore (Ghana, 38.9),Dakar-Diamniadio Tollway (Senegal, 132.2)22 Mitsubishi UFJ Financial 1,120.8 1.3 10 Exeltium Virtual Power Station (France, 354.4), Egyptian Refinery Company (Egypt, 84.4), Castor Underground GasStorage (Spain, 88.7), Jubail Petrochemical Plant (Saudi Arabia, 155.8), Bodduso Wind (Italy, 48.6), Skarv Oil Field(Norway, 57.1), Stade Gas Powered Plant (Germany, 71.3), A12 Veenendaal to Utrecht PPP (Netherlands, 71.9),Aseng Production Co Ltd (Equatorial Guinea, 50.0), Solaben Solar CSP (Spain, 138.5)23 WestLB 1,017.4 1.2 16 Egyptian Refinery Company (Egypt, 84.4), Castor Underground Gas Storage (Spain, 88.7), Eje Diagonal (Spain, 61.1),Mercurio Solar Tinajeros (Spain, 41.8), Aero Rossa Wind Farm (Italy, 26.8), Autovia del Pirineo A21 (Spain, 31.7),Minerva Messina Srl (Italy, 40.1), Apuseni Gold (Romania, 27.0), Val Di Chineti Scpa (Italy, 47.4), Tanquid Zweite

70 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals23 ...ctd. Autobahn Tank (Germany, 42.8), Endesa Gas Distribution (Spain, 106.0), Linea Nueve Tramo Dos SA (Spain, 179.9),Etrion-Lazio/Apulia PV (Italy, 41.8), Thyssengas GmbH (Germany, 139.3), Ute Los Hornillos Waste Mgmt (Spain,22.9), Ibiza Hospital (Spain, 35.9)24 Banco Espirito Santo 1,010.4 1.2 14 Egyptian Refinery Company (Egypt, 84.4), Castor Underground Gas Storage (Spain, 88.7), RAVE High-Speed Rail Link(Portugal, 199.2), Eje Diagonal (Spain, 61.1), Lourdes Hospital (Portugal, 28.4), Mercurio Solar Tinajeros (Spain,41.8), Pinhal Interior Shadow Toll (Portugal, 158.2), Aeropuerto de la Region Murcia (Spain, 93.1), ENEOP 2Windpark (Portugal, 81.0), RAVE High-Speed Rail Link (Portugal, 24.3), Vila Franca de Xira Hospital (Portugal, 69.7),Carport Sagunto SL (Spain, 25.0), Auto Estradas Do Norte Road (Portugal, 41.7), Margonin Wind Farm (Poland, 13.9)25 Bayern LB 990.5 1.2 13 Castor Underground Gas Storage (Spain, 88.7), GSM-R (France, 95.7), Nord Stream AG (Switzerland, 358.1), CologneUniversity Clinic (Germany, 38.7), Ajka Power (Hungary, 21.6), Kliplev-Sonderborg Motorway (Denmark, 36.7), LaCastilleja Solar PV (Spain, 27.8), Stade Gas Powered Plant (Germany, 71.4), Barqa 3 IPP (Oman, 88.0), Sohar 2 IPP(Oman, 82.2), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 24.6), Stribro PV (Czech Rep, 30.6), Erste PugliaPortfolio PV (Italy, 26.5)26 Citi 850.2 1.0 5 Jubail Petrochemical Plant (Saudi Arabia, 155.8), Perenco Petroleum Ltd (United Kingdom, 551.0), OAO Gazprom-Yuzhno-Russkoye (Utd Arab Em, 34.5), EMAL (Utd Arab Em, 70.0), Jubilee Oil Field Offshore (Ghana, 38.9)27 Deutsche Bank 836.3 1.0 7 Borkum West II Offshore (Germany, 79.8), Jubail Petrochemical Plant (Saudi Arabia, 155.8), Nord Stream AG(Switzerland, 358.1), EMAL (Utd Arab Em, 70.0), Lazio Megasol PV Plant (Italy, 42.0), Solucia Renovables 1 SL (Spain,104.1), Erste Puglia Portfolio PV (Italy, 26.5)28 Nord/LB 800.0 1.0 17 Plauerhagen Wind Farm (Germany, 29.6), Almatret Lleida Windfarm (Spain, 50.1), Apulia Solar Energy Plants (Italy,62.3), Barnsley BSF 2 (United Kingdom, 119.7), Barnsley BSF 3 (United Kingdom, 41.5), Ausleben WindfarmExtension (Germany, 10.0), Infigen France (France, 38.4), Brent Social Housing PFI 2 (United Kingdom, 75.8),Coventry Street Lighting (United Kingdom, 44.5), Southwark BSF 2 (United Kingdom, 41.5), Blackburn BSF 2 (UnitedKingdom, 45.5), Crighshane/Church Hill Wind (United Kingdom, 46.2), Derby BSF (United Kingdom, 37.4),Finsterwalde 1 Solar Farm (Germany, 59.5), Ealing BSF (United Kingdom, 16.4), Oldham BSF (United Kingdom, 31.1),Dromdeeveen Wind Farm (Ireland Rep, 50.7)29 Mizuho Financial 794.1 1.0 7 Jubail Petrochemical Plant (Saudi Arabia, 155.8), Gulf United Steel Co (Bahrain, 120.0), Stade Gas Powered Plant(Germany, 71.4), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3), Nya Karolinska Solna Hospital (Swede,63.5), Solacor Electricidad Uno SA (Spain, 137.6), Solaben Solar CSP (Spain, 138.5)30 Banque Saudi Fransi 778.3 0.9 4 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Riyad Independent Power Plant (Saudi Arabia, 111.4), Ma'adenPhosphate Company (Saudi Arabia, 94.4), Al Qurayyah IPP (Saudi Arabia, 325.0)=30 Natl Comml Bank Saudi Arabia 778.3 0.9 4 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Riyad Independent Power Plant (Saudi Arabia, 111.4), Ma'adenPhosphate Company (Saudi Arabia, 94.4), Al Qurayyah IPP (Saudi Arabia, 325.0)32 KBC 715.6 0.9 11 Thornton Bank Wind Farm (Belgium, 134.1), Egyptian Refinery Company (Egypt, 84.4), Flemish Schl RvtlistionPrgram (Belgium, 215.4), Skarv Oil Field (Norway, 57.1), Ajka Power (Hungary, 21.6), Bridge North Sea Ltd (UnitedKingdom, 18.1), FX Energy Gas Field (Poland, 24.0), Kutna Hora Solar (Czech Rep, 21.0), Drasov Solar (Czech Rep,19.1), A12 Veenendaal to Utrecht PPP (Netherlands, 71.9), Eupen and Kelmis Schools, (Belgium, 48.9)33 Export Development Canada 682.3 0.8 4 Jubail Petrochemical Plant (Saudi Arabia, 155.8), Riyad Independent Power Plant (Saudi Arabia, 111.4), Ma'adenPhosphate Company (Saudi Arabia, 170.0), High Speed 1 Rail Sale (United Kingdom, 245.1)34 Saudi British Bank 666.9 0.8 3 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Ma'aden Phosphate Company (Saudi Arabia, 94.4), Al QurayyahIPP (Saudi Arabia, 325.0)35 Sberbank 628.7 0.8 3 Moscow-St Petersburg Motorway (Russian Fed, 545.7), Bogunchanskaya AluminumSmelter (Russian Fed, 65.0),Asacha Gold Mine (Russian Fed, 18.0)36 Standard Bank 613.1 0.7 4 Nord Stream AG (Switzerland, 358.1), Lumwana Mining Company (Zambia, 100.0), Azurite Oil Field (Dem Rep Congo,124.9), Uquo Gas Field-Ikot Abassi (Nigeria, 30.0)37 NIBC 611.6 0.7 9 Borkum West II Offshore (Germany, 79.8), Birmingham Highways Mgt PFI (United Kingdom, 78.0), CologneUniversity Clinic (Germany, 38.7), Kliplev-Sonderborg Motorway (Denmark, 36.7), Second Bundle of Schools PPP(Ireland Rep, 36.0), Jacktel Accommdation Rig (Norway, 69.8), A15 Maasvlakte-Vaanplein (Netherlands, 175.4), GlasDowr FPSO (Netherlands, 60.0), Derby BSF (United Kingdom, 37.4)38 Triodos Bank 594.3 0.7 4 Pinos Puente Solar Plant (Spain, 569.0), Tenerife Solar PV (Spain, 15.4), Langa Del Duero PV (Spain, 5.3),Matapozuelos Ra Solar PV (Spain, 4.7)39 Banco de Sabadell 586.9 0.7 11 Castor Underground Gas Storage (Spain, 88.7), TCA (Spain, 47.2), Badajoz Solar Thermal Plant (Spain, 65.5), Bajoz &

http://www.pfie.com13 January 2011 | pfi| 71EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals39 ...ctd. Hornija Eolica SL (Spain, 21.9), Ecoparc del Besos S.A (Spain, 12.4), Puerta Maritima Ondara (Spain, 27.3), UTE CostaBrava (Spain, 25.7), Esquilvent Eolic Farm (Spain, 46.5), Ibereolica Solar Moron SL (Spain, 44.5), Linea Nueve TramoDos SA (Spain, 179.9), Sistemes Energetics Conesa SL (Spain, 27.3)40 RBC Capital Markets 577.9 0.7 2 HSBC Rail Acquisition (United Kingdom, 332.7), High Speed 1 Rail Sale (United Kingdom, 245.1)41 Commerzbank 573.0 0.7 4 Thornton Bank Wind Farm (Belgium, 134.1), Nord Stream AG (Switzerland, 358.1), Almatret Lleida Windfarm (Spain,50.1), Ytterberg Wind (Sweden, 30.7)42 VTB Capital 545.7 0.7 1 Moscow-St Petersburg Motorway (Russian Fed, 545.7)43 Samba Leasing 530.8 0.6 3 Riyad Independent Power Plant (Saudi Arabia, 111.4), Ma'aden Phosphate Company (Saudi Arabia, 94.4), AlQurayyah IPP (Saudi Arabia, 325.0)44 Banco Popular Espanol 512.7 0.6 8 Helioenergy Solar Thermal (Spain, 21.6), Castor Underground Gas Storage (Spain, 88.7), Pinhal Interior Shadow Toll(Portugal, 158.2), Eolica del Guadiana SL (Spain, 32.9), Autovia del Pirineo A21 (Spain, 31.7), Helioenergy SolarThermal (Spain, 21.6), Endesa Gas Distribution (Spain, 106.0), Murcia Tramway (Spain, 52.0)45 Credit Mutuel 455.4 0.5 5 Riyad Independent Power Plant (Saudi Arabia, 111.4), Barqa 3 IPP (Oman, 88.0), Sohar 2 IPP (Oman, 82.2), MarseilleStadium (France, 123.9), Aseng Production Co Ltd (Equatorial Guinea, 50.0)46 Alinma Bank 453.3 0.5 3 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Riyad Independent Power Plant (Saudi Arabia, 111.4), Ma'adenPhosphate Company (Saudi Arabia, 94.4)47 Mediobanca 446.8 0.5 2 Castor Underground Gas Storage (Spain, 88.7), Nord Stream AG (Switzerland, 358.1)48 Banco Comercial Portugues 445.2 0.5 6 RAVE High-Speed Rail Link (Portugal, 199.2), ENEOP 2 Windpark (Portugal, 81.0), RAVE High-Speed Rail Link(Portugal, 24.3), Mafratlantico Vias Rodoviarias (Portugal, 85.1), Auto Estradas Do Norte Road (Portugal, 41.7),Margonin Wind Farm (Poland, 13.9)49 Rabobank 411.5 0.5 7 Thornton Bank Wind Farm (Belgium, 134.1), Borkum West II Offshore (Germany, 79.8), WP Tholen (Netherlands,20.9), Infigen France (France, 38.4), Lazio Megasol PV Plant (Italy, 42.0), Crighshane/Church Hill Wind (UnitedKingdom, 46.2), Aseng Production Co Ltd (Equatorial Guinea, 50.0)50 JP Morgan 401.0 0.5 2 Jubail Petrochemical Plant (Saudi Arabia, 155.8), High Speed 1 Rail Sale (United Kingdom, 245.1)51 Garanti Bank 392.5 0.5 2 Boyabat Hydroelectric Power (Turkey, 187.5), Ankara Dogal Elektrik Uretim (Turkey, 205.0)52 Yapi Ve Kredi Bankasi 392.4 0.5 3 Bandirma Port Privatization (Turkey, 78.4), Boyabat Hydroelectric Power (Turkey, 187.5), Bagistas Hydro (Turkey, 126.5)53 National Bank of Abu Dhabi 382.6 0.5 2 Emirates Steel Plant (Utd Arab Em, 137.5), High Speed 1 Rail Sale (United Kingdom, 245.1)54 Banco Portugues Investimento 366.9 0.4 4 Pinhal Interior Shadow Toll (Portugal, 158.2), ENEOP 2 Windpark (Portugal, 81.0), Aguas de Cascais (Portugal, 42.6),Mafratlantico Vias Rodoviarias (Portugal, 85.1)55 Al Rajhi Banking & Investment 341.9 0.4 2 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Ma'aden Phosphate Company (Saudi Arabia, 94.4)=55 Arab National Bank 341.9 0.4 2 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Ma'aden Phosphate Company (Saudi Arabia, 94.4)=55 Riyadh Bank 341.9 0.4 2 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Ma'aden Phosphate Company (Saudi Arabia, 94.4)=55 Saudi Hollandi Bank 341.9 0.4 2 Jubail Petrochemical Plant (Saudi Arabia, 247.5), Ma'aden Phosphate Company (Saudi Arabia, 94.4)59 Nationwide Anglia Building Soc 330.1 0.4 5 Birmingham Highways Mgt PFI (United Kingdom, 78.0), Hull BSF (United Kingdom, 33.9), Barnsley BSF 2 (UnitedKingdom, 42.8), Barnsley BSF 3 (United Kingdom, 118.4), Cambridgeshire BSF (United Kingdom, 57.0)60 European Arab Bank 326.0 0.4 3 Jubail Petrochemical Plant (Saudi Arabia, 155.8), Barqa 3 IPP (Oman, 88.0), Sohar 2 IPP (Oman, 82.2)61 Arab Petroleum Investment 325.8 0.4 2 Jubail Petrochemical Plant (Saudi Arabia, 155.8), Ma'aden Phosphate Company (Saudi Arabia, 170.0)62 SEB Enskilda 316.6 0.4 5 Borkum West II Offshore (Germany, 79.8), Kliplev-Sonderborg Motorway (Denmark, 36.7), Nya Karolinska SolnaHospital (Sweden, 63.5), Ida Viru Oil (Estonia, 93.9), Tanquid Zweite Autobahn Tank (Germany, 42.8)63 Arab Bank 275.8 0.3 2 Jubail Petrochemical Plant (Saudi Arabia, 155.8), Gulf United Steel Co (Bahrain, 120.0)64 Groupe BPCE 249.9 0.3 3 Croix de Cuitot (France, 7.1), GDF Curbans PV (France, 64.2), Zoo de Vincennes PPP (France, 178.8)65 DZ Bank 249.0 0.3 3 Jacktel Accommdation Rig (Norway, 69.8), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 107.3), A12 Veenendaalto Utrecht PPP (Netherlands, 71.9)66 Bank Al-Jazira 247.5 0.3 1 Jubail Petrochemical Plant (Saudi Arabia, 247.5)=66 Islamic Development Bank 247.5 0.3 1 Jubail Petrochemical Plant (Saudi Arabia, 247.5)=66 Samba Financial 247.5 0.3 1 Jubail Petrochemical Plant (Saudi Arabia, 247.5)=66 Saudi Investment Banking 247.5 0.3 1 Jubail Petrochemical Plant (Saudi Arabia, 247.5)70 Scotiabank-Bank of Nova Scotia 245.1 0.3 1 High Speed 1 Rail Sale (United Kingdom, 245.1)71 AK Bank 239.5 0.3 2 OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 34.5), Ankara Dogal Elektrik Uretim (Turkey, 205.0)72 BMPS 238.2 0.3 6 Bodduso Wind (Italy, 48.6), Sorgenia Solar Power (Italy, 47.8), Camas Energy Srl (Italy, 62.0), Aero Rossa Wind Farm(Italy, 26.8), ATO5 Toscana Costa (Italy, 22.7), Daunia Savignano Srl (Italy, 30.6)

72 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals73 BANIF 233.7 0.3 3 Loures Hospital (Portugal, 28.4), Pinhal Interior Shadow Toll (Portugal, 158.2), Vila Franca de Xira Hospital (Portugal,47.1)74 DnB NOR BANK 228.7 0.3 6 CHP-2 Reconstruction (Latvia, 29.8), Modlikowice and Lukaszow Wind (Poland, 28.7), Nya Karolinska Solna Hospital(Sweden, 63.5), Kaphult Wind (Sweden, 32.3), Is Arenas/Bellariva Solar (Italy, 43.6), Ytterberg Wind (Sweden, 30.7)75 ASN Bank 213.9 0.3 2 Thornton Bank Wind Farm (Belgium, 134.1), Borkum West II Offshore (Germany, 79.8)76 Abbey National 210.4 0.3 1 Porterbrook Acquisition (United Kingdom, 210.4)=76 CBA 210.4 0.3 1 Porterbrook Acquisition (United Kingdom, 210.4)78 Landesbank Hessen-Thueringen 205.0 0.2 4 Borkum West II Offshore (Germany, 79.8), Norfolk/Suffolk Police (United Kingdom, 33.0), Belmarsh Prison (UnitedKingdom, 49.4), Tanquid Zweite Autobahn Tank (Germany, 42.8)79 TSKB Menkul Degerler 187.5 0.2 1 Boyabat Hydroelectric Power (Turkey, 187.5)=79 Turkiye Is Bankasi AS 187.5 0.2 1 Boyabat Hydroelectric Power (Turkey, 187.5)81 Nordea 187.2 0.2 3 CHP-2 Reconstruction (Latvia, 29.8), Nya Karolinska Solna Hospital (Sweden, 63.5), Ida Viru Oil (Estonia, 93.9)82 NAB 182.4 0.2 4 Southmead Hospital (United Kingdom, 114.9), Bridge North Sea Ltd (United Kingdom, 18.1), Bristol Leisure PFI(United Kingdom, 44.2), Corkermore Wind Farm/Breeze (Ireland Rep, 5.2)83 Emirates NBD 170.0 0.2 1 Ma'aden Phosphate Company (Saudi Arabia, 170.0)84 Bank of Ireland 168.6 0.2 4 Birmingham Highways Mgt PFI (United Kingdom, 78.0), Belmarsh Prison (United Kingdom, 49.4), Second Bundle ofSchools PPP (Ireland Rep, 36.0), Corkermore Wind Farm/Breeze (Ireland Rep, 5.2)85 Credit Suisse 163.9 0.2 3 Jubilee Oil Field Offshore (Ghana, 75.0), Jubilee Oil Field Offshore (Ghana, 38.9) El Avlle Boinas Carles Gold (Spain,50.0)86 Gulf International Bank 155.8 0.2 1 Jubail Petrochemical Plant (Saudi Arabia, 155.8)87 Centrobanca 140.1 0.2 6 Rocchetta[Apulia]Wind Farm (Italy, 13.3), Aero Rossa Wind Farm (Italy, 26.8), Torchiarolo PV Plant (Italy, 19.6),Aprilia Solar Srl (Italy, 15.7), ATO5 Toscana Costa (Italy, 22.7), Lazio Megasol PV Plant (Italy, 42.0)88 Abu Dhabi Islamic Bank 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)=88 Al Hilal Islamic Bank 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)=88 Al Khaliji Commercial Bank 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)=88 Arab Banking Corporation 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)=88 Bank of Baroda 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)=88 First Gulf Bank 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)=88 Union National Bank of UAE 137.5 0.2 1 Emirates Steel Plant (Utd Arab Em, 137.5)95 Turkiye Vakiflar Bankasi 126.5 0.2 1 Bagistas Hydro (Turkey, 126.5)96 Credito Valtellinese 123.1 0.2 4 Bodduso Wind (Italy, 48.6), Rocchetta[Apulia]Wind Farm (Italy, 13.3), Aero Rossa Wind Farm (Italy, 26.8), 9REN-FivePV Portfolio (Italy, 34.4)97 Landesbank Baden-Wurttemberg 116.5 0.1 3 Fotowatio PV Acquisition (Spain, 61.2), OAO Gazprom-Yuzhno-Russkoye (Russian Fed, 24.6), Stribro PV (CzechRepublic, 30.6)98 Banca Popolare di Milano 107.9 0.1 3 Ravenna Solar PV (Italy, 29.8), Val Di Chineti Scpa (Italy, 47.4), Daunia Savignano Srl (Italy, 30.6)99 ICBC 100.0 0.1 1 Lumwana Mining Company (Zambia, 100.0)100 Caja Navarra 96.4 0.1 2 Autovia del Pirineo A21 (Spain, 31.7), Pamplona - Lagrono Motorway (Spain, 64.7)101 Pohjola Bank 93.9 0.1 1 Ida Viru Oil (Estonia, 93.9)102 EFG Group 88.9 0.1 1 Heron II (Greece, 88.9)=102 Piraeus Bank 88.9 0.1 1 Heron II (Greece, 88.9)104 Bank Leumi Le Israel BM 86.0 0.1 1 Tamar Natural Gas Plant (Israel, 86.0)=104 Discount Bank & Trust 86.0 0.1 1 Tamar Natural Gas Plant (Israel, 86.0)=104 United Mizrahi Bank 86.0 0.1 1 Tamar Natural Gas Plant (Israel, 86.0)107 Ahli United Bank 84.4 0.1 1 Egyptian Refinery Company (Egypt, 84.4)=107 Continental International Bank 84.4 0.1 1 Egyptian Refinery Company (Egypt, 84.4)=107 Sumitomo Trust & Banking 84.4 0.1 1 Egyptian Refinery Company (Egypt, 84.4)110 Caixa de Galicia 72.4 0.1 2 Manises Waste Treatment Plant (Spain, 30.8), Sociedad de Economia Mixta Los (Spain, 41.7)111 Mitsubishi UFJ Lease & Finance 71.4 0.1 1 Stade Gas Powered Plant (Germany, 71.4)112 Erste Group 70.6 0.1 2 Ajka Power (Hungary, 21.6), Energy 21 PV Porfolio (Czech Republic, 48.9)113 Handelsbanken Capital Markets 63.5 0.1 1 Nya Karolinska Solna Hospital (Sweden, 63.5)114 Banca Popolare Italiana 58.5 0.1 1 Thiene-Schio Hospital (Italy, 58.4)

http://www.pfie.com13 January 2011 | pfi| 73EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUEDLead manager Volume (U$Sm) % No of deals Deals115 Caixa d'Estalvis de Catalunya 48.6 0.1 2 UTE Costa Brava (Spain, 25.7), Ute Los Hornillos Waste Mgmt (22.9)116 Banca Popolare di Verona-BSGSP 46.0 0.1 1 Termica Colleferro SpA (Italy, 46.0)117 Banca Agrileasing SpA 45.6 0.1 2 Aprilia Solar Srl (Italy, 15.7), Ravenna Solar PV (Italy, 29.9)118 Bankinter SA 43.2 0.1 2 Helioenergy Solar Thermal (Spain, 21.6), Helioenergy Solar Thermal (Spain, 21.6)=118 Monte de Piedad HuelvaySevilla 43.2 0.1 2 Helioenergy Solar Thermal (Spain, 21.6), Helioenergy Solar Thermal (Spain, 21.6)=118 Unicaja 43.2 0.1 2 Helioenergy Solar Thermal (Spain, 21.6), Helioenergy Solar Thermal (Spain, 21.6)121 RMB Holdings 42.8 0.1 1 Petra Diamonds Ltd (United Kingdom, 42.8)122 Caja de Castilla la Mancha 41.8 0.1 1 Mercurio Solar Tinajeros (Spain, 41.8)123 Ahorro Corporacion Financiera 41.7 0.1 1 Sociedad de Economia Mixta Los (Spain, 41.7)124 IKB Deutsche Industriebank 38.7 0.1 1 Cologne University Clinic (Germany, 38.7)125 Meliorbanca 35.6 0.0 1 Monte Mimiani Windfarm (Italy, 35.6)126 Cooperative Wholesale Society 33.9 0.0 1 Hull BSF (United Kingdom, 33.9)127 Caja Rural Credicoop Scdad 31.7 0.0 1 Autovia del Pirineo A21 (Spain, 31.7)128 Bancaja 30.7 0.0 1 Manises Waste Treatment Plant (Spain, 30.7)129 United Bank for Africa 30.0 0.0 1 Uquo Gas Field-Ikot Abassi (Nigeria, 30.0)130 Banca di Credito Coop Manzano 29.8 0.0 1 Ravenna Solar PV (Italy, 29.8)=130 Cassa di Risparmio di Roma 29.8 0.0 1 Ravenna Solar PV (Italy, 29.8)132 Banca Popolare dell'Etruria 29.0 0.0 2 Rocchetta[Apulia]Wind Farm (Italy, 13.3), Aprilia Solar Srl (Italy, 15.7)133 PKO BP 28.7 0.0 1 Modlikowice and Lukaszow Wind (Poland, 28.7)=133 Raiffeisen Zentralbank 28.7 0.0 1 Modlikowice and Lukaszow Wind (Poland, 28.7)=133 Wielkopolski Bank Kredytowy 28.7 0.0 1 Modlikowice and Lukaszow Wind (Poland, 28.7)136 Caterpillar Financial 27.0 0.0 1 Apuseni Gold (Romania, 27.0)=136 Investec 27.0 0.0 1 Apuseni Gold (Romania, 27.0)138 Cassa di Risparmio di Parma 26.8 0.0 1 Reggio Toll Roa (Italy, 26.8)139 CaixaNova 24.0 0.0 1 Villanueva de la Serena PV (Spain, 24.0)140 Banco de Valencia 22.9 0.0 1 Ute Los Hornillos Waste Mgmt (Spain, 22.9)=140 Caja de Ahorros Mediterraneo 22.9 0.0 1 Ute Los Hornillos Waste Mgmt (Spain, 22.9)142 Cassa di Risparmio di Lucca 22.7 0.0 1 ATO5 Toscana Costa (Italy, 22.7)143 OTP Bank 21.6 0.0 1 Ajka Power (Hungary, 21.6)144 Banca Popolare Emilia Romagna 13.3 0.0 1 Rocchetta[Apulia]Wind Farm (Italy, 13.3)=144 Cassa de Risparmio de Ferrara 13.3 0.0 1 Rocchetta[Apulia]Wind Farm (Italy, 13.3)=144 Cassa di Risparmio di Bolzano 13.3 0.0 1 Rocchetta[Apulia]Wind Farm (Italy, 13.3)=144 Cassa di Risparmio di Ravenna 13.3 0.0 1 Rocchetta[Apulia]Wind Farm (Italy, 13.3)=144 ICCREA 13.3 0.0 1 Rocchetta[Apulia]Wind Farm (Italy, 13.3)149 Kaiser 12.4 0.0 1 Ecoparc del Besos S.A (Spain, 12.4)150 OSEO 7.1 0.0 1 Croix de Cuitot (France, 7.1)Total* 83,931.2 100.0 255Proportional CreditSource: Thomson Reuters

74 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA LOANS BY SECTORSectorVolume (US$m)Transportation 23,705.7Power 21,664.3Oil & gas 17,416.7Petrochemicals 7,326.8Leisure & property 6,402.7Mining 3,512.5Industry 1,280.0Waste & recycling 1,207.3Telecommunications 820.5Water & sewerage 594.8Total 83,931.2EMEA LOANS BY COUNTRYNo ofNation US$m % dealsSpain 17,376.1 20.7 67United Kingdom 13,020.8 15.5 34Saudi Arabia 10,000.2 11.9 4Switzerland 5,371.2 6.4 1France 5,350.7 6.4 22Italy 5,014.5 6.0 37Portugal 4,638.6 5.5 10Russian Federation 2,753.6 3.3 5Belgium 2,401.8 2.9 6Germany 2,132.6 2.5 8Turkey 1,719.8 2.1 5United Arab Emirates 1,650.0 2.0 3Netherlands 1,437.3 1.7 4Oman 1,361.1 1.6 2Egypt 1,012.5 1.2 1Ghana 1,002.0 1.2 4Republic of Ireland 779.2 0.9 5Nigeria 777.0 0.9 4Sweden 728.6 0.9 3No ofNation US$m % dealsNorway 609.3 0.7 2Bahrain 600.0 0.7 1South Africa 510.0 0.6 1Israel 430.0 0.5 1Equatorial Guinea 400.0 0.5 1Zambia 400.0 0.5 1Greece 375.9 0.5 3Czech Republic 357.5 0.4 6Estonia 281.6 0.3 1Democratic Republic of the Congo 250.0 0.3 1Poland 228.7 0.3 3Denmark 219.9 0.3 1Ivory Coast 207.0 0.3 2Romania 135.0 0.2 1Senegal 132.2 0.2 1Bulgaria 90.6 0.1 2Latvia 89.5 0.1 1Hungary 86.5 0.1 1Total 83,931.2 100.0 255

http://www.pfie.com13 January 2011 | pfi| 75BONDS BY COUNTRYBONDS BY SECTORSectorVolume (US$m)SectorVolume (US$m)USA 4,905Australia 4,550Canada 4,521UK 3,276Indonesia 698Macau 600Dominican Republic 284Thailand 274Italy 260Philippines 160Peru 112India 110New Zealand 40Total 19,790Infrastructure 7,665Power 4,877Oil & gas 2,474Social infrastructure 2,174Mining 2,000Leisure 600NON RECOURSE PROJECT BONDSLead manager No of deals Volume (U$Sm) Deals1 RBS 4 1,884 Fortescue Minerals (Australia, Mining, 1000), Melco Crown (Macau, Leisure, 200), Angel (UK, Infrastructure,413), HSBC Rail (UK, Infrastructure, 271)2 Barclays Capital 8 1,770 Wayang Windu (Indonesia, Power, 116), Chicago parking (US, Infrastructure, 200), SteelRiver Transmission(USA, Power, 562), Alta Wind (USA, Power, 193), Eagle (USA, Infrastructure, 202), Terra-Gen Dixie Valley(USA, Power, 87), Porterbrook (UK, Infrastructure, 260), TrAIL (USA, Power, 150)3 JP Morgan 4 1,657 Chicago parking (USA, Infrastructure, 200), Fortescue Minerals (Australia, Mining, 1000), LBJ (USA,Infrastructure, 307), TrAIL (USA, Power, 150)4 RBC 5 1,525 407 (Canada, Infrastructure, 350), St Joseph’s (Social infrastructure, 370), HSBC Rail (UK, Infrastructure, 271),CRCHUM (Canada, Social Infrastructure, 424), 407 (Canada, Infrastructure, 110)5 Credit Suisse 6 1,335 Chicago parking (USA, Infrastructure, 200), Alta Wind (USA, Power, 193), AES Dominicana (Dominican Republic,Power, 142), Long Lake (Canada, Oil & Gas, 400), Coffeyville refi (USA, Oil & Gas, 250), TrAIL (USA, Power, 150)6 Deutsche 4 1,092 Santos (Australia, Oil & Gas, 500), Melco Crown (Macau, Leisure, 200), AES Dominicana (DominicanRepublic, Power, 142), Coffeyville refi (USA, Oil & Gas, 250)7 Lloyds 3 944 Angel (UK, Infrastructure, 413), HSBC Rail (UK, Infrastructure, 271), Porterbrook (UK, Infrastructure, 260)8 BNP Paribas 5 894 Sun Power (Italy, Power, 130), Huascacocha (Peru, Infrastructure, 112), Mountain Praire (USA, Power, 305),Terra-Gen Dixie Valley (USA, Power, 87), Porterbrook (UK, Infrastructure, 260)9 Bank of America 4 789 Manila Cavite (Philippines, Infrastructure, 80), Eagle (USA, Power, 202), Melco Crown (Macau, Leisure, 200),LBJ (USA, Infrastructure, 307)10 BMO Nesbitt Burns 3 664 407 (Canada, Infrastructure, 110), Coroner’s Complex (Canada, Social Infrastructure, 178), GTAA (Canada,Infrastructure, 376)11 Scotia 4 575 McGill Hospital (Canada, Social Infrastructure, 255), 407 (Canada, Infrastructure, 110), CAMH (Canada, SocialInfrastructure, 27), Royal Canadian Mounted Police (Canada, Social Infrastructure, 183)12 HSBC 4 518 TTM phase 2 (Thailand, Oil & Gas, 137), Mapex (India, Infrastructure, 70), EMAS (India, Infrastructure, 40),HSBC Rail (UK, Infrastructure, 271)13 Macquarie 1 500 Sydney Airport (Australia, Infrastructure, 500)14 UBS 1 500 Santos (Australia, Oil & Gas, 500)15 Standard Chartered 2 466 Wayang Windu (Indonesia, Power, 116), Star Energy (Indonesia, Power, 350)16 Goldman Sachs 1 413 Angel (UK, Infrastructure, 413)17 Westpac 4 385 Infratil (New Zealand, Infrastructure, 10), SPI (Australia, Power, 150), Melbourne Airport (Australia,Infrastructure, 100), M2 (Australia, Infrastructure, 125)18 Citigroup 2 368 Shepherds Flat (USA, Power, 175), Alta Wind (USA, Power, 193)19 Bank of Montreal 1 350 407 (Canada, Infrastructure, 350)

76 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesNON RECOURSE PROJECT BONDS CONTINUEDLead manager No of deals Volume (U$Sm) Deals20 Manulife 2 346 Boralex (Canada, Power, 182), Raleigh Wind (Canada, Power, 164)21 Casgrain 3 319 McGill Hospital (Canada, Social Infrastructure, 255), CAMH (Canada, Social Infrastructure, 27), Stoney Trail(Canada, Infrastructure, 37)21 Dexia 3 319 McGill Hospital (Canada, Social Infrastructure, 255), CAMH (Canada, Social Infrastructure, 27), Stoney Trail(Canada, Infrastructure, 37)23 CBA 2 275 SPI (Australia, Power, 150), M2 (Australia, Infrastructure, 125)24 ANZ 3 260 Infratil (New Zealand, Infrastructure, 10), Melbourne Airport (Australia, Infrastructure, 100), APA (Australia,Oil & Gas, 150)25 BTMU 1 175 Shepherds Flat (USA, Power, 175)25 WestLB 1 175 Shepherds Flat (USA, Power, 175)27 Aviva 2 173 Lewisham BSF (UK, Social infrastructure, 80), Camden BSF (UK, Social infrastructure, 93)28 NAB 1 150 APA (Australia, Oil & Gas, 150)29 National Financial 2 147 407 (Canada, Infrastructure, 110), Stoney Trail (Canada, Infrastructure, 37)30 Credit Agricole 1 142 Hatchet Ridge (USA, Power, 142)31 CIMB 1 137 TTM phase 2 (Thailand, Oil & Gas, 137)32 Societe Generale 1 130 Sun Power (Italy, Power, 130)33 Nomura 1 116 Wayang Windu (Indonesia, Power, 116)34 CIBC 1 110 407 (Canada, Infrastructure, 110)35 Standard Bank 1 80 Manila Cavite (Philipppines, Infrastructure, 80)36 Toronto Dominion 1 37 Stoney Trail (Canada, Infrastructure, 37)37 Metlife 1 25 SunPower (USA, Power, 25)37 John Hancock 1 25 SunPower (USA, Power, 25)39 First NZ Capital 1 10 Infratil (New Zealand, Infrastructure, 10)39 Forsyth Barr 1 10 Infratil (New Zealand, Infrastructure, 10)Total 19,790

http://www.pfie.com13 January 2011 | pfi| 77MULTILATERAL DEVELOPING COUNTRY PROJECT FINANCE DEALSIDFIProject Country Cost Debt involvement DetailsDungsam cement plant Bhutan 158 90 9 Exim Bank India provided a US$9m direct loan.Tupi FPSO Brazil 1,300 800 800 JBIC provided a US$480m direct loan and guaranteed a US$320m loan.Sevan Driller II vessel Brazil – 525 400 Sinosure and GIEK each guaranteed a US$200m loan.Odebrecht drillships Brazil 1,100 1,050 160 GIEK provided a US$160m direct loan.OSX-1 FPSO Brazil – 420 120 GIEK and Eksportfinans contributed to a US$420m direct loan.Chelopech mine Bulgaria 150 67 34 EBRD contributed to a US$67m direct loan.Cabeolica wind farm Cape Verde 84 59 59 EIB and AdDB provided direct loans of US$39m and US$20m respectively.Gansu Guazhou Ganhekou wind farm China 249 140 140 IFC provided a US$45m direct loan and guaranteed a US$95m B loan.Galaxy Resources lithium carbonate facility China – 105 53 China Development Bank provided a US$53m direct loan.Huadian hydropower plant China 558 412 412 China Exim bank provided a US$412m direct loan.Sociedad Portuaria Terminal de Colombia 302 160 151 IFC provided a US$25m direct loan and guaranteed US$117m of direct loans. IFC alsoprovided a US$9m direct mezanine loan.INA refinery modernisation Croatia – 275 275 EBRD provided a direct loan of US$197m and guaranteed a US$13m direct loan.Infrastructure Crisis Facility provided a US$66m direct loan.Viejo gold mine Dominican Republic 3,090 1,030 441 KfW, EDC and US Ex-Im Bank contributed to a US$1.03bn loan.Seaboard power plant Dominican Republic – 114 91 Finnvera, a Finnish export Credit guaranteed 80% of US$114m direct loan.Coca-Coda Sinclair hydro Ecuador 2,000 1,700 1,700 China Eximbank provided a US$1.7bn direct loan.Egyptian Refinery Company Egypt 3,600 2,600 2,408 Kexim, JBIC, EIB AfDB and KfW contributed to a US$2.4bn direct loan.Jaguar Energy power plant Guatemala 700 350 175 CABEI guaranteed a US$175m loan.Cerro de Hula wind energy plant Honduras 237 204 204 US Exim Bank and CABEI provided direct loans of US$159m and US$45m respectively.Himadri Chemicals & Industry India – 34 17 DEG contributed to a US$34m direct loan.Reliance Sasan power project India – 1,100 550 China Development bank and China Eximbank contributed to a US$1.1bn direct loan.Paiton III power expansion Indonesia 1,519 1,215 1,215 JBIC provided a US$730m direct loan and guaranteed a US$485m loan.PT Cirebon Electric Power Indonesia 850 595 595 JBIC and Kexim provided direct loans of US$214m and US$143m respectively, andguaranteed loans of US$143m and US$95m respectively.Ekibastuz 2 power station Kazakhastan – 775 385 EDB contributed to a US$775 direct loan.Riga CHP-2 power reconstruction Latvia – 206 206 EBRD provided a US$117m direct loan and guaranteed an US$89m loan.Eurus wind farm Mexico 600 375 229 IFC and IADB provided direct loans of US$71m and US$62m respectively. Proparco andDEG each provided a US$48m direct loan.MT Falcon wind farm acquisition Mexico 1,200 750 600 JBIC provided a US$450m direct loan, and partially guaranteed a US$300m loan.La Ventosa wind farm Mexico – 143 143 IFC, IDB, US Eximbank and World Bank's clean Technology Fund contributed to aUS$143m direct loan.Minera Boleo mine Mexico – 823 723 US Eximbank, EDC and KDB provided direct loans of US$419m, US$150m and US$90mrespectively. KDB also provided a subordinated loan of US$64m.San Jacinto-Tizate concession Nicaragua 149 77 77 CABEI, FMO and EDC each provided a US$20m direct senior loan. CABEI also guaranteed aUS$10m loan and FMO also provided a US$7m direct mezzanine loan.San Jacinto-Tizate geothermal Nicaragua 370 160 160 IFC provided a US$50m direct loan, IDB, Proparco, DEG, CABEI, OEeB and FMO contributedto a US$110m direct loan.O3b Networks satellite Nigeria 1,200 770 713 Coface guaranteed 95% of a US$510m loan. DBSA, AfDB, DEG, Proparco, FMO, IFC andEAIF contributed to a US$260m direct loan.Salalah IWPP Oman 1,000 762 400 Sinosure guaranteed a US$340m loan to which China Development Bank contributed. KfWprovided a US$60m direct loan.Barqa 3/Sohar 2 power projects Oman 1,700 1,275 956 Hermes and Kexim provided direct loans of US$637m and US$159m respectively. Keximalso guaranteed a US$160m direct loan.Maple Energy ethanol Peru 254 140 115 CAF provided a US$65m direct loan and IADB and FMO each provided US$25m directloans.Road Network 4 Peru 150 150 50 CAF provided a US$50m direct loan.Chicla-Marcona transmission line Peru 291 190 64 CIF and CAF contributed to a US$190m direct loan.GN Power Mariveles Philippines 1,000 720 493 China Development Bank provided a US$493m direct loan, which Sinosure guaranteed

78 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesMULTILATERAL DEVELOPING COUNTRY PROJECT FINANCE DEALS (CONTINUED)IDFIProject Country Cost Debt involvement DetailsNord Stream pipeline Russia 6,942 4,923 3,950 Hermes, UFK and SACE guaranteed of loans of US$2bn, US$1.3bn and US$631mrespectively. KfW contributed to an US$800m direct loan.Pulkovo airport Russia 1,515 919 615 EBRD, IFC, Eurasian Development Bank, Nordic Investment Bank and Black Sea Trade andDevelopment Bank provided direct loans of US$126m, US$88m, US$90m, US$44m andUS$19m respectively. EBRD and IFC also each guaranteed US$124m B loans.Brunswick Rail fleet expansion Russia 450 300 300 IFC provided a US$50m direct loan and guaranteed a US$50m loan. EBRD provided aUS$100m direct loan and guaranteed a US$100m loan.Khabarovsk oil refinery Russia 1,300 760 497 CESCE guaranteed a US$497m direct loan.MTS mobile networks Russia – 393 393 Finnvera guaranteed a US$393m direct loan.Tobolsk polypropylene plant Russia – 1,440 1,220 SACE and Hermes guaranteed direct loans of US$686m and US$534m respectively.PP11 power plant Saudi Arabia 2,000 1,500 570 US Ex-Im provided a US$400m direct loan. EDC and KfW each contributed to a US$600mdirect loan.Jubail refinery Saudi Arabia – 8,473 2,998 CESCE, KEIC, Coface, Kexim, Nexi and Hermes guaranteed loans of US$679m, US$677m,US$329m, US$244m, US$200m and US$75m respectively. Kexim, KfW, JBIC, EDC andIslamic Development Bank provided direct loans of US$299m, US$273m, US$200m,US$125m and US$120m respectively.DP World Dakar port Senegal – 132 110 AfDB, Proparco, IDC, FMO and EAIF contributed to a US$132m direct loan, which MIGApartially covered.Dakar-Diamniado toll road Senegal 303 82 65 IFC provided a US$30m direct loan. West African Development Bank and AfDB contributedto a US$52m direct loan.Williamson diamond mine South Africa 50 40 40 IFC provided a US$40m direct loan.SEDAS grid acquisition Turkey 620 325 225 EBRD and IFC provided direct loans of US$150m and US$75m respectively.PetroVietnam Nhon Vietnam 470 470 329 DBJ contributed to a US$470m direct loan of which Hermes and NEXI guaranteed directloans of US$295m and US$175m respectively.Kariba North hydropower project Zambia – 430 430 DBSA and China Exim bank provided direct loans of US$105m and US$325m respectively.Total 40,548 27,065

http://www.pfie.com13 January 2011 | pfi| 79MULTILATERAL DEVELOPING COUNTRY EXPOSURESIDFI Direct lending Guarantees Exposure Total debt1 KfW/Hermes/DEG/UFK 1,330 4,002 5,332 7,3362 JBIC/Nexi/DBJ 3,066 1,388 4,454 5,4833 China Eximbank/CDB/Sinosure 3,391 682 4,073 5,2724 KEIC/Kexim/KDB 1,455 1,123 2,578 4,9065 SACE – 1,316 1,316 1,5956 US Ex-Im 1,206 – 1,206 2,1117 CESCE – 1,176 1,176 2,6798 IFC/MIGA/Clean Tech Fund/ICF 629 441 1,070 1,2349 EBRD 724 326 1,050 1,27410 Coface/Proparco 111 790 901 1,54011 EIB 545 – 545 58712 EDC 527 – 527 1,11113 Finnvera – 484 484 50714 GIEK/Eksportfinans 280 200 480 1,73315 Eurasian Development Bank 475 – 475 90916 African Development Bank 300 – 300 32617 CABEI 73 185 258 43718 CAF 147 – 147 32519 DBSA 137 – 137 13920 IADB 131 – 131 18921 Islamic Development Bank 120 – 120 33922 FMO 115 – 115 13423 Noridc Investment Bank 44 – 44 6624 EAIF 43 – 43 4725 CIF 32 – 32 9526 Black Sea Trade and Development Bank 19 – 19 2827 West African Development Bank 17 – 17 2128 OeEB 15 – 15 2229 IDC 11 – 11 1330 Exim Bank India 9 – 9 90Total 14,952 12,113 27,065 40,548

80 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesMULTILATERAL EXPOSURE BY DEVELOPING COUNTRYMULTILATERAL EXPOSURE BY DEVELOPING COUNTRYCountry IDFI provision Debt1 Russia 6,975 8,7352 Saudi Arabia 3,568 9,9733 Egypt 2,408 2,6004 Indonesia 1,810 1,8105 Ecuador 1,700 1,7006 Mexico 1,695 2,0917 Brazil 1,480 2,7958 Oman 1,356 2,0379 Nigeria 713 77010 China 605 65711 India 567 1,13412 Dominican Republic 532 1,14413 Philippines 493 72014 Zambia 430 43015 Kazakhastan 385 775Country IDFI provision Debt16 Vietnam 329 47017 Croatia 275 27518 Nicaragua 237 23719 Peru 229 48020 Turkey 225 32521 Latvia 206 20622 Honduras 204 20423 Guatemala 175 35024 Senegal 175 21425 Colombia 151 16026 Cape Verde 59 5927 South Africa 40 4028 Bulgaria 34 6729 Bhutan 9 90Total 27,065 40,548MULTILATERAL DEVELOPED PROJECT FINANCE DEALSIDFIProject Country Cost Debt involvement DetailsChina First coal Australia 7,007 4,905 4,905 China Eximbank provided a US$4.9bn direct loan.Collgar wind farm Australia 679 439 191 EKF provided a US$191m direct loan.Gindalbie Karara iron ore Australia 1,900 1,200 600 China Development Bank contributed to a US$1.2bn direct loan.Thornton Bank wind farm Belgium 1,737 1,476 735 EIB provided a US$601m direct loan, of which EKF guaranteed US$60m, and KfW guaranteedUS$83m. KfW also provided US$134m.Copper Mountain mine Canada – 322 322 Nexi guaranteed a US$322m loan, of which JBIC provided US$160m.Estlink 2 power cable Finland 422 158 158 EIB and NIB provided direct loans of US$99m and US$59m respectively.GSM-R France 1,350 765 408 EIB provided a US$408m direct loan.Hylas satellite project France – 328 328 US Exim bank provided a US$216m direct loan, and Coface guranteed a US$112m loan.Borkum West II Germany 662 1,139 683 EIB partially guaranteed, and KfW contributed to, a US$1.1bn loan.Eirgrid Interconnector Ireland 770 632 385 EIB provided a US$385m direct loan.Montalto di Castro PV Italy 622 576 288 SACE guaranteed a US$288m bond, of which EIB provided US$144m.Erste Puglia PV Italy 102 79 26 KfW contributed to a US$79m direct loan.A12 road project Netherlands 483 352 232 EIB and KfW contributed to a US$352m direct loan.EDP Renovaveis Margonin wind farm Poland – 177 90 EBRD, contributed to a US$117m direct loan and EIB provided a US$60m direct loanPinhal Interior shadow toll road Portugal 1,853 1,581 396 EIB provided a US$396m direct loan.Poceirao to Caia HSR Portugal 1,900 880 760 EIB provided a US$760m direct loan.ENEOP 2 wind farm Portugal – 648 204 EIB provided a US$204m direct loan.Radiales toll roads refinancing Spain – 823 190 EIB provided a US$380m direct loan, guaranteed by commercial banks.Barcelona Metro Line 3 train Spain 3,247 1,987 520 EIB provided a US$520m direct loan.Karolinska hospital Sweden 1,775 675 605 EIB, Nordic Investment Bank and KfW provided direct loans of US$385m, US$200m andUS$20m respectively.Southmead hospital UK 1,049 892 381 EIB provided a US$381m direct loan.Barnsley BSF UK 196 77 77 EIB provided a US$77m direct loan.Total 20,111 12,484

http://www.pfie.com13 January 2011 | pfi| 81MULTILATERAL DEVELOPED COUNTRY EXPOSURESMULTILATERAL EXPOSURE BY DEVELOPED COUNTRYIDFI Direct lending Guarantees Exposure Total debt1 China Eximbank/CDB 5,505 – 5,505 6,1052 EIB 4,621 569 5,190 11,3003 KfW 324 83 407 7724 Nexi/JBIC 80 242 322 3225 Nordic Investment Bank 259 – 259 2826 EKF 191 60 251 5597 US Eximbank 216 – 216 2168 SACE – 192 192 3849 Coface – 112 112 11210 EBRD 30 – 30 59Total 11,226 1,258 12,484 20,111Country IDFI provision Debt1 Australia 5,696 6,5442 Portugal 1,360 3,1093 France 736 1,0934 Belgium 735 1,4765 Spain 710 2,8106 Germany 683 1,1397 Sweden 605 6758 UK 458 9699 Ireland 385 63210 Canada 322 32211 Italy 314 65512 Netherlands 232 35213 Finland 158 15814 Poland 90 177Total 12,484 20,111GLOBAL ADVISORY MANDATES WON IN 2010GLOBAL ADVISORIES CLOSED1 PWC 13 47 34 94 2642 Ernst & Young 6 50 18 74 2603 HSBC 20 2 19 41 414 SBI Capital 22 8 0 30 395 Taylor de Jongh 17 9 2 28 406 BNP Paribas 10 4 7 21 667 KPMG 3 15 1 19 198 Greengate 14 0 4 18 339 Credit Agricole 8 0 8 16 1610 TASC 11 2 2 15 3611 International Finance & Advisory 8 0 1 9 1012 Standard Chartered 6 1 0 7 1313 Alfen Consult 0 6 0 6 1914 Green Giraffe Energy Bankers 5 0 0 5 615 Citigroup 2 2 0 4 1516 ING 4 0 0 4 917 Project Financing Solutions 2 1 1 4 818 Natixis 0 0 4 4 419 SG 3 0 0 3 1120 Bank Muscat 3 0 0 3 420 Investec 0 0 3 3 422 DBS Bank 2 0 0 2 223 Azure Capital 1 0 0 1 1Total 160 147 104 411(488)Key1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competition1 2 3 Total OverallAdvisorVolume (US$m)1 PWC 12,1362 RBC 12,0333 Macquarie 11,6824 KPMG 9,9345 Standard Chartered 8,7646 HSBC 8,6727 SG 8,6008 Credit Agricole 8,5009 Riyad 7,50010 Deloitte 4,95811 Ernst & Young 4,70512 Natixis 4,60013 SBI Capital 4,04314 Credit Suisse 3,00015 Citigroup 2,82216 Bank Muscat 2,38617 Deutsche 2,30518 Goldman Sachs 2,28019 Investec 1,77320 Project Financing Solutions 1,72021 Green Giraffe Energy Bankers 1,20622 JP Morgan 80623 Taylor de Jongh 73624 DBS Bank 67725 BNP Paribas 49026 Alfren Consult 14

82 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesAMERICAS ADVISORY MANDATES WON IN 2010ASIA PACIFIC ADVISORY MANDATES WON IN 20101 PWC 3 11 5 19 412 Greengate 12 0 3 15 263 BNP Paribas 5 1 4 10 304 KPMG 1 7 0 8 85 HSBC 5 0 2 7 76 Taylor de Jongh 2 2 2 6 87 Credit Agricole 4 0 0 4 48 Ernst & Young 0 2 1 3 129 Investec 0 0 3 3 310 SG 2 0 0 2 311 ING 2 0 0 2 211 International Finance & Advisory 2 0 0 2 213 Green Giraffe Energy Bankers 1 0 0 1 1Total 39 23 20 82(62)Key – 1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competitionAMERICAS ADVISORY MANDATES CLOSED IN 20101 2 3 Total Overall1 Macquarie 6 5,780 Midwest Gaming (1, 445), Ridgewood (1, 348),Eagle (3, 1638), Sun Power (1, 125), CRCHUM(3, 424), LBJ (3, 2800)2 KPMG 7 5,530 King Edward IV Hospital (2, 283), Alberta schools(2, 253), Ixtapaluca hospital (3, 134), LBJ (2, 2800),Windsor Essex (2, 1200), St Joseph’s (2, 370), LongBeach Courthouse (3, 490)3 PWC 6 3,176 Forensic Services (2, 341), McGill (2, 1320), RCMP(2, 500), South Fraser (2, 715), Ottawa Cenvention(2, 180), Libramiento Sur de Celaya (2, 120)4 Credit Suisse 1 3,000 Ruby pipeline (1, 3000)5 RBC 3 2,944 CRCHUM (2,424), McGill (2, 1320), Windsor Essex(3, 1200)6 Investec 2 1,573 McGill (3, 1320), Alberta schools (3, 253)7 Ernst & Young 7 1,519 Impsa (1, 276), Brook University (2, 51), LongBeach Courthouse (2, 490), McGill Parking (2, 257),Ontario College (2, 28), Sunnybrook (2, 124), KingEdward IV Hospital (3, 283)8 HSBC 1 1,050 Odebrecht DSME (1, 1050)9 Deloitte 3 575 Stoney Trail (2, 157), Disraeli Bridge (2, 158),Women’s College Hospital (2, 260)10 BNP Paribas 1 490 Long Beach Courthouse (3, 490)11 Deutsche 3 148 Thunder Bay 1 (1, 41), Thunder Bay 2 (1, 54),Sky Power (1, 53)Key1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competitionNo of Volumedeals (US$m) Deals1 SBI Capital 22 8 0 30 392 Ernst & Young 1 16 2 19 592 PWC 2 14 3 19 594 Taylor de Jongh 5 1 0 6 95 HSBC 4 0 2 6 66 Standard Chartered 4 1 0 5 107 International Advisory & Finance 4 0 1 5 68 DBS Bank 2 0 0 2 29 SG 1 0 0 1 310 Azure Capital 1 0 0 1 110 Credit Agricole 1 0 0 1 110 Greengate 1 0 0 1 110 KPMG 0 1 0 1 110 Project Financing Solutions 0 1 0 1 115 ING 0 0 0 0 116 BNP Paribas 0 0 0 0 6Total 48 42 8 98(90)Key1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competition1 2 3 Total OverallASIA PACIFIC ADVISORY MANDATES CLOSED IN 20101 Macquarie 7 5,157 Gold Coast Parking (1, 76), Loy Yang refi (1, 470),SMRT telecoms (1, 73), Machang Bridg (1, 313),Q Holdings (3, 2245), DBNGP 5A (1, 480), SosaWonsi (3, 1500)2 SBI Capital 4 4,043 KSK Energy (1, 2698), Jindal Power phase 3(1, 686), Adhunik Power (1, 227), Visa Power (1, 432)3 PWC 4 2,554 Peninsula Link (2, 774), Fighter Wings (2, 345),Singapore Sports (2, 1365), Greenko Energy (3, 70)4 HSBC 2 1,845 Sports Hub (3, 1365), ST Aerospace (3, 480)5 Deutsche 1 1,365 Sports Hub (2, 1365)6 Standard Chartered 1 1,000 GN Power (1, 1000)7 DBS Bank 1 677 Universal Terminals (1, 677)8 KPMG 2 296 Arafat prison (2, 220), Gold Coast Parking (1, 76),9 Ernst & Young 2 262 Haridwar-Dehradun (2, 104), Muzaffamagar-Haridwar (2, 158)10 RBC 2 221 Electranet (1, 26), Adelaide Airport (1, 195)Key1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competitionNo of Volumedeals (US$m) Deals

http://www.pfie.com13 January 2011 | pfi| 83EMEA ADVISORY MANDATES WON IN 20101 PWC 8 22 26 56 1642 Ernst & Young 5 32 15 52 1893 HSBC 11 2 15 28 284 Taylor de Jongh 10 6 0 16 235 TASC 11 2 2 15 366 BNP Paribas 5 3 3 11 307 Credit Agricole 3 0 8 11 118 KPMG 2 7 1 10 109 Alfen Consult 0 6 0 6 1910 Citigroup 2 2 0 4 1511 Green Giraffe Energy Bankers 4 0 0 4 512 Natixis 0 0 4 4 413 Project Financing Solutions 2 0 1 3 714 Bank Muscat 3 0 0 3 415 Greengate 1 0 1 2 615 ING 2 0 0 2 617 Standard Chartered 2 0 0 2 318 International Finance & Advisory 2 0 0 2 219 SG 0 0 0 0 520 Investec 0 0 0 0 1Total 73 82 76 231(337)Key1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competition1 2 3 Total Overall

84 | pfi | 13 January 2011 http://www.pfie.com2010 League TablesEMEA ADVISORY MANDATES CLOSED IN 20101 RBC 11 8,868 Essex BSF (3, 133), Blackburn (3, 61), GSM (3, 1633), Southmead (2, 1042), Autovia Dei Camino (1, 117), Dragados SPL (1, 910),Karolinska (3, 1365), HS1 (3, 3400), Derby BSF (3, 70), Oldham BSF (3, 68), Ealing BSF (3, 69)2 SG 2 8,600 Nord Stream 1(1, 5000), ERC (1, 3600)3 Credit Agricole 1 8,500 Jubail (1, 8500)4 Standard Chartered 2 7,764 Ras Az Zawr smelter (1, 7500), Dakar Port (1, 264)5 Riyad 1 7,500 Ras Az Zawr (1, 7500)6 PWC 24 6,406 Gribskov school (3, 70), CEI (3, 230), Magdeburg school (3, 25), Barnsley BSF 2 (3, 94), Birmingham highways (3, 500), Brent housing(3, 215), Reading housing (3, 33), Flemish schools (2, 900), Marseille velodrome (2, 347), A12 (2, 375), A15 (2, 877), Vigo hospital(2, 423), Karolinska (2, 1365), Barnsley Lift 3 (2, 33), Belmarsh prison (2, 200), Coventry street lighting (2, 90), Doncaster Lift 2 (2, 33),Nottingham Lift 2 (2, 40), Nottingham street lighting (2, 74), Somerset BSF (2, 97), Southwark BSF (2, 80), Screggagh wind (1, 47),Barnsley BSF 3 (1, 238), Good Energy (1, 20)7 HSBC 4 5,777 Pico (1, 265), Southmeads (3, 1042), O3b (1, 595), Tamar (1, 215), E.On Italia (260), HSBC Rail (1, 3400)8 Natixis 3 4,600 Exeltium (1, 2257), Velodrome (3, 143), Emirates Steel (1, 2200)9 Deloitte 12 4,383 Solaria (1, 48), Barnsley BSF 2 (2, 94), Barnsley BSF 3 (2, 238), Birmingham highway (2, 500), Cambridge BSF (3, 64), William Morey(2, 45), Derby BSF (2, 70), Kilpev-Sonderborg (2, 221), Moscow-St Petersburg (3, 2132), Oldham BSF (2, 68), Celaya bypass (2, 122),Eirgrid (2, 781)10 KPMG 18 4,108 Bristol Lift 3 (2, 74), CEI (2, 230), Hull BSF (2, 66), E51 (3, 218), Leicester Lift (2, 11), Zoo de Vincennes (3, 215), Hautes-Pyrenees(3, 45), Two Counties Police (2, 110), Bristol Leisure (3, 46), HSL Poceirao-Caia (2, 2000), Cologne hospital (2, 87), Vila Franca (3, 200),Newby Lift (3, 9), Barking BSF (3, 48), Somerset BSF (3, 97), A12 (3, 375), Justiteel Schiphol (3, 96), RTE (3, 91)11 Ernst & Young 20 2,924 Ballybane (1, 32), Energy 21 (106), Bremervorden (2, 90), Verdun bridge (2, 30), Dijon tram (2, 68), Finchley Lift (2, 48), Lambeth Lift(2, 31), Tayside mental health (2, 147), North Staff Lift (2, 42), Nottingham Trent (2, 58), Oldham Lift (2, 20), Pulkovo Airport (2, 1534),Rochdale BSF (2, 71), Tameside 2 BSF (2, 124), Tarbes bypass (2, 49), Worcester library (2, 77), Mala Airport (2, 78), Blackpool BSF(3, 94), Lewisham BSF (3, 200), Tees Lift (3, 25)12 Citigroup 2 2,822 PP11 (2, 2085), Emal (1, 737)13 Bank Muscat 2 2,386 Barka 3/Sohar 2 (2, 1720), Octal Petrochemicals (1, 562), Renaissance Services (1, 104)14 Goldman Sachs 1 2,280 Angel (1, 1240), Endesa Gas (1, 1040)15 Project Financing Solutions 1 1,720 Barka 3/Sohar 2 (2, 1720)16 Green Giraffe Energy Bankers 1 1,206 C Power (1, 1206)17 JP Morgan 1 806 Porterbrook (1, 806)18 Deutsche 7 792 Origis 3 (1, 80), Pizzarotti (1, 74), Schuco Puglia (1, 103), Megasol (1, 149), Osa de la Vega (1, 75), Moscow-Minsk (1, 281),Cam Mestre (1, 30)19 Macquarie 2 745 De Lijn (2, 57), Irish schools 2 (3, 142), Thyssengas (3, 546)20 Taylor de Jongh 1 736 Emal (1, 736)21 Investec 1 200 Belmarsh (3, 200)22 Alfren Consult 1 14 Velbert schools (2, 14)Key1 - Privately owned sponsors2 - Government or government owned sponsors3 – Bidders in a competitionNo of Volumedeals (US$m) Deals