Worldwide investments in CLUSTER MUNITIONS

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Citigroup has underwritten bond issuances totalling approximately US$323 million for the companies since June 2012 (see table below). Holding company Orbital ATK Orbital ATK Orbital ATK Textron Textron Issuer Orbital ATK Inc Orbital ATK Inc Orbital ATK Inc Textron Inc Textron Inc Underwriting of bond issuances by Citigroup Est. Use of proceeds General Corporate Purposes, Refinance General Corporate Purposes, Refinance General Corporate Purposes, Refinance Refinancing, General Refinancing, General Total value participation Interest Maturity Issue date (US$ mln) of this bank rate date (US$ mln) 400 43 5.500 29-9-2015 1-10-2023 400 43 5.500 29-9-2015 1-10-2023 400 43 5.500 29-9-2015 1-10-2023 250 36 3.650 23-1-2014 1-3-2021 350 51 4.300 23-1-2014 1-3-2024 Textron Textron Inc General 350 22 3.875 23-10-2014 1-3-2025 Textron Textron Inc General 350 85 4.000 4-3-2016 15-3-2026 Source: Thomson Reuters Eikon, “Bond and share issue underwritings”, viewed March 2016; Bloomberg, “Bond and share issue underwritings”, viewed March 2016. 1.2.46 CNO Financial Group (United States) CNO Financial Group (United States) has made an estimated US$31 million available to the companies on the red flag list since June 2012. CNO Financial Group owns or manages bonds of the companies to the amount of US$31 million (see table below). Only holdings of at least 1.0% for US producers and 0.1% for Asian producers of the outstanding bonds at the most recent available filing date are included. Bond holdings managed by CNO Financial Group Holding company Country Total value (US$ mln) % Outstanding Filing date Textron United States 31 1.05 30-9-2015 Source: Thomson Reuters Eikon, “Bond ownership: most recent filings”, viewed March 2016; Bloomberg, “Aggregated Debt: most recent filings”, viewed March 2016. 74
1.2.47 Comerica (United States) Comerica (United States) has made an estimated US$35 million available to the companies on the red flag list since June 2012. Comerica provided loans totalling approximately US$35 million to the companies (see table below). The table shows all loans closed since June 2012. Holding company Orbital ATK Orbital ATK Orbital ATK Borrower Alliant Techsystems Inc Alliant Techsystems Inc Alliant Techsystems Inc Loans provided by Comerica Est. Use of Total value proceeds (US$ mln) participation of this bank Closing date Maturity date (US$ mln) Acquisition 1,010 18 1-11-2013 1-11-2018 Acquisition 700 12 1-11-2013 1-11-2018 Refinancing, General 150 5 24-6-2014 24-12-2018 Source: Thomson Reuters Eikon, “Loans”, viewed March 2016; Bloomberg, “Loans”, viewed March 2016. 1.2.48 Crédit Mutuel (France) Crédit Mutuel (France) has made an estimated US$30 million available to the companies on the red flag list since June 2012. Crédit Mutuel provided loans totalling approximately US$30 million to the companies (see table below). The table shows all loans closed since June 2012. Holding company Orbital ATK Orbital ATK Borrower Alliant Techsystems Inc Alliant Techsystems Inc Loans provided by Crédit Mutuel Est. Use of Total value proceeds (US$ mln) participation of this bank Closing date Maturity date (US$ mln) Acquisition 1,010 18 1-11-2013 1-11-2018 Acquisition 700 12 1-11-2013 1-11-2018 Source: Thomson Reuters Eikon, “Loans”, viewed March 2016; Bloomberg, “Loans”, viewed March 2016. 75
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June 2016 update Worldwide investme
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PAX (formerly IKV Pax Christi, the
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1.2.24 BB&T (United States) 61 1.2.
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1.2.130 Sealand Securities (China)
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2.2.29 NIBC (the Netherlands) 177 2
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9
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in place, financial institutions ha
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In the research period, these 158 f
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Worthy of mention here are two fina
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Methodology: Questions and Answers
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Sources Of Information For The Hall
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Summary Tables Hall of Shame The fo
Page 25 and 26: Financial institution in the Hall o
Page 27 and 28: Financial institution in the Hall o
Page 29 and 30: Country of origin of financial inst
Page 31 and 32: PFA Pension Denmark X X X X X PGGM
Page 33 and 34: NIBC The Netherlands X X X Nordea S
Page 35 and 36: Introduction Investing in Cluster M
Page 37 and 38: arise from two arguments: the contr
Page 39 and 40: We define a cluster munitions produ
Page 41 and 42: 1.1.3 Hanwha (South Korea) Hanwha C
Page 43 and 44: for surveillance and component test
Page 45 and 46: Textron argues that the weapon cont
Page 47 and 48: 1.2 The Investments 1.2.0 Introduct
Page 49 and 50: • Results The following contains
Page 51 and 52: Norinco Norinco Norinco Norinco Chi
Page 53 and 54: 1.2.8 AQR Capital Management (Unite
Page 55 and 56: 1.2.13 BancPlus (United States) Ban
Page 57 and 58: Orbital ATK Orbital ATK Inc General
Page 59 and 60: Norinco Norinco Norinco Norinco Nor
Page 61 and 62: 1.2.21 Bank of New York Mellon (Uni
Page 63 and 64: 1.2.24 BB&T (United States) BB&T (U
Page 65 and 66: 1.2.28 California First National Ba
Page 67 and 68: 1.2.32 Central Pacific Financial Co
Page 69 and 70: 1.2.35 China Development Bank (Chin
Page 71 and 72: 1.2.38 China Investment Securities
Page 73 and 74: 1.2.41 China Minsheng Banking (Chin
Page 75: 1.2.44 CITIC (China) CITIC (China)
Page 79 and 80: Hanwha Hanwha Hanwha Hanwha Corp Ha
Page 81 and 82: 1.2.56 Donghai Securities (China) D
Page 83 and 84: Eaton Vance owns or manages bonds o
Page 85 and 86: 1.2.65 Fifth Third Bancorp (United
Page 87 and 88: Shareholdings managed by Franklin R
Page 89 and 90: Goldman Sachs owns or manages share
Page 91 and 92: Hanwha Hanwha Hanwha Hanwha Corp Ha
Page 93 and 94: 1.2.79 Huatai Securities (China) Hu
Page 95 and 96: 1.2.82 Industrial and Commercial Ba
Page 97 and 98: Invesco owns or manages bonds of th
Page 99 and 100: 1.2.86 KB Financial Group (South Ko
Page 101 and 102: KeyCorp has underwritten bond issua
Page 103 and 104: 1.2.91 Kyobo AXA Investment Manager
Page 105 and 106: 1.2.95 LIG Group (South Korea) LIG
Page 107 and 108: 1.2.99 Manulife Financial (Canada)
Page 109 and 110: 1.2.103 Midas International Asset M
Page 111 and 112: Mitsubishi UFJ Financial has underw
Page 113 and 114: 1.2.108 National Pension Service (S
Page 115 and 116: 1.2.113 Northern Trust (United Stat
Page 117 and 118: 1.2.117 People’s Insurance Compan
Page 119 and 120: 1.2.120 Piper Jaffray (United State
Page 121 and 122: 1.2.123 Prudential (United Kingdom)
Page 123 and 124: Regions Financial has underwritten
Page 125 and 126: 1.2.129 Samsung Group (South Korea)
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1.2.132 Shenwan Hongyuan Group (Chi
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1.2.135 Siemens (Germany) Siemens (
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1.2.139 State Street (United States
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1.2.142 Sun Life Financial (Canada)
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1.2.145 T. Rowe Price (United State
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1.2.150 US Bancorp (United States)
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1.2.152 Viking Global Investors (Un
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Wells Fargo has underwritten bond i
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1.2.157 WisdomTree Investments (Uni
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financial institutions listed are o
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This means that “any loan or fina
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In September 2010, the FDC’s Admi
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2.1.10 Swedish Pension Fund AP7 (Sw
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2.1.14 A.S.R. (the Netherlands) A.S
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DNB’s Group Policy Corporate Soci
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2.1.25 Pensioenfonds Horeca & Cater
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In 2007, PME strengthened its own g
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2.1.35 Stichting Pensioenfonds Huis
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2.2 Runners-up Financial Institutio
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2.2.1 ABN Amro (the Netherlands) AB
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Retail investment funds are beyond
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2.2.9 Belfius (Belgium) Belfius is
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Since 2011, all investment recommen
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Deutsche Bank’s Policy on Cluster
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HSBC’s Defence Equipment Sector P
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2.2.24 KBC (Belgium) KBC Group is a
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How to gain a place in the Hall of
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2.2.36 Royal Bank of Scotland (Unit
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2.2.40 Stichting Pensioenfonds APF
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The policy only covers project fina
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2.3 Countries’ Best Practices 2.3
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“Also prohibited is the financing
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2.3.2 Ireland BACKGROUND Ireland wa
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2.3.3 Italy BACKGROUND Italy signed
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2 Direct financing within the meani
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COMMENTARY What does the legislatio
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A Dutch financial institution in vi
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The legislation was unanimously ado
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2.3.9 Spain BACKGROUND The Kingdom
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“Art. 35b Offences against the pr
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DISINVESTMENT - MINISTERIAL AND INT
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2.3.19 Croatia The Republic of Croa
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On 1 June 2011, a Ministry of Forei
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2.3.34 Rwanda The Republic of Rwand
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Conclusion and recommendations As t
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Funds following an index 789 A fund
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16 Article 1: “General Obligation
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34 Hanwha Corporation, “130 mm Mu
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61 Federal Procurement Data System,
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90 Textron Systems, “Textron Syst
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115 AFP, “S’pore says no to clu
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146 Fonds de Compensation, “Socia
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180 ABP, “Uitgesloten bedrijven e
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216 Delta Lloyd Asset Management,
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248 PenSam, written response to Pro
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283 PME, “De 10 PME Principes voo
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313 SPH, “Maatschappelijk Verantw
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342 Achmea, “Uitsluitingsbeleid
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374 La Banque Postale, “Registrat
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411 Commerzbank, written response t
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448 Ethias, “Resultaten 2014” (
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481 Intesa Sanpaolo, “About Us”
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514 New Zealand Superannuation Fund
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548 PKA, “Vi Tager Ansvar” (“
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583 Standard Chartered, “Defence
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616 UniCredit Group, “UniCredit P
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647 “Wet houdende regeling van ec
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672 Landmine & Cluster Munition Mon
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694 “Cluster Munitions Prohibitio
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717 Curia Vista, “Interdiction du
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Worldwide investments in CLUSTER MUNITIONS

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