LEAGUE TABLES

IN THIS SECTION 50 Introduction 81 Multilaterals

54 Loans 84 Advisors
75 Bonds
LOANS DOWN,
BONDS UP
THE GLOBAL PROJECT LOANS MARKET WAS DOWN LAST YEAR BY US$40.7BN TO US$236.4BN BUT PROJECT
BOND ISSUANCE WAS UP SLIGHTLY, BY US$8.3BN TO US$43.6BN. THE COMMERCIAL PROJECT FINANCE
MARKET, THEREFORE, DIPPED FROM US$310BN IN 2015 TO US$280BN IN 2016. MULTILATERAL ACTIVITY IN
THE EMERGING MARKETS WAS UP, HOWEVER, AND STEADY IN THE DEVELOPED WORLD.
The Thomson Reuters Project Finance International
(PFI) annual league tables are the most accurate
and comprehensive measure of project finance
activity across the globe in any given year. The tables
stretch back two decades and each year the data are
thoroughly checked by the Thomson Reuters data
teams across the world and PFI editorial staff.
In 2016, loan volumes dropped back by 14.7%
to US$236.4bn. That said, 2015 was a record high
at US$277.1bn but even 2014 reached US$260bn.
Volumes in 2013 were a more modest US$204bn.
The dip was not unexpected. A year ago we said of
the 2015 result, looking into 2016, it is difficult to
see these numbers being sustained. A main reason
for the fall was the expected dip in activity in the
Americas, which, as a market, had been racing ahead
following the domestic shale gas boom. A mix of
LNG export projects and gas-fired power stations
took the US market up to US$56.5bn in 2015.
In 2016, the US market fell back by 40% to
US$33.8bn. That said, the 2016 number still shows a
very healthy market but the froth has now definitely
come off. The mega LNG export deals have finally
disappeared and the power market has slowed down.
The PPP market is active and it will be interesting
to see if President Trump can boost infrastructure
spending in the short term, as he has promised.
The Americas market as a whole fell back by
US$37.4bn, or 40%, to US$55.9bn nearly all the
global loan market decline. Canada showed a big
dip too, halving from US$8.9bn to US$4.8bn. Latin
America was down from US$27.2bn to US$16.5bn,
with Brazil and Mexico slumping from US$17.3bn
in 2015 to US$5.2bn.
One bright spot was the emergence of Argentina,
which came in at US$2.4bn of debt raised. For the
Americas in 2017, prospects look decent there are
plenty of active sectors across the region but a return
to the heady years of 2015/16 are some way off.
Asia-Pacific fell back too in 2016 down
24.9% to US$57.2bn from US$76.2bn. One lumpy
US$12bn reason was that the mega Taiwanese rail
refinancing from 2015 did not appear. In addition,
the region had seen the large US$4bn Oyu Tolgoi
deal done in 2105.
There were few comparable mega deals in 2016
although the Japanese domestic market came to
the fore in the year, recording a total of US$9.4bn.
A mix of power, renewables and airports drove
activity up from US$3.2bn in 2015. Having
dominated the international loan markets for the
50 Project Finance International January 25 2017
last few years, Japanese banks now need to do
some work at home too.
Two other ongoing market reasons for the
Asian volume dip were the performance of the
two leading markets in the region Australia and
India. Australia was down US$1.2bn to US$24.3bn
while India was down US$8.1bn to US$8.5bn.
The Australian figure is still very respectable
and the market continues to thrive. For much of
the year it was quiet but in Q4 a range of large
deals were financed. India, despite the Modi
push, has still to regain its greenfield project
momentum from a few years ago. Many deals in
the Indian market are still refinancings.
The Europe, Middle East & Africa (EMEA)
market was the one regional market that did
rise in 2016, up 14% to US$15.1bn. This was due
to one of those lumpy factors in this case the
US$19bn Yamal LNG financing in Russia, which
was transacted in tranches over the year. Add
in the US$3bn for TCO in Kazakhstan and the
former Soviet Union countries showed well even
within the low oil price environment.
Neighbour Turkey, however, fell back from
US$10bn in 2015 to US$3.4bn last year. Saudi
Arabia fell back too, by US$5.1bn to US$7.9bn.
However, there were, as in 2015, few themes
in 2016 across the region apart from a lack of
greenfield financings aside from the offshore
wind sector in Northern Europe.
Activity in the global project bond market was
up in 2016, by 23.5% to US$43.6bn, after having
dropped 30% in the previous year from US$50bn
to US$35.3bn. There were few big themes in the
table, with volumes up in markets such as the US,
with US$13.6bn in issuance in 2016, and the UK at
US$4bn, and down a little in Canada at US$3.6bn.
Mexico was an important new market with US$2.7bn
but the Malaysia sukuk market halved to US$1.1bn.
Multilateral activity in the emerging markets
was up to US$20bn on the back of deals such as
Central Java, Liwa and Facility E. While the big
deals tend to hog the limelight, the multilateral
deal list published with the tables shows an
impressive range of small and medium-sized
deals financed across the globe. In the developed
country table, the UK showed up well as its
garnered EIB funds before the Brexit vote.
In the advisory tables, the number of new
mandates rose 71 to 425. However all this was
accounted for by a steep rise increase in EYs work in

Methodology
n 2016 TABLES The rules
The league tables are compiled from submissions sent
in from commercial banks and financial advisers. Only
transactions that are limited or non-recourse are included
in the tables. The submissions are checked by Project
Finance International (PFI) and Thomson Reuters staff
globally. The tables are presented in a regional form and
then global tables are calculated from the regional figures.
On the loans side, only lead-arranging mandates are
credited in the tables. League table credit is awarded on
a pro rata basis. If one bank lead-arranges a US$500m
project finance loan, it receives a US$500m credit, if two
arrange a US$500m loan, they receive US$250m credits,
if four, US$125m each, and so on. The credits are added
up and the league tables are produced.
On some deals, an individual banks submitted figure
might be lower in the published version of the league
table or it might increase. To ensure the tables are
market-accurate, some banks might be added to the
table even if they had not claimed for a mandated lead-
arranging role, while others might not be credited even if
they have claimed.
The evaluation of lead-arranging roles has been
made much stricter to include only initial mandated
lead arrangers. In the Americas, the mandated lead
arranger category is similar to the Thomson Reuters
bookrunner category. Recent years have seen more and
more club deals emerge. On these, each bank in the
club is given equal credit.
Overall, the tables are only concerned with measuring
the performance of those that arrange deals, not
necessarily their final underwriting commitment or
final take. The deals counting towards a banks total
are detailed in the regional sections, with the relevant
amounts per deal. From these details the country and
sector league tables are drawn up. The process is very
similar on the bond league table. The tables measure the
activities only of the senior lead managers.
Latin America. The advisories closed list once again
showed a healthy mix of advisory firms from mega
investment banks to commercial banks and down
to boutiques. The Yamal LNG financing saw Portland
Advisers, China Development Bank, Gazprombank
and Sberbank jumping to the top.
Japanese banks once again dominated the
loan tables. The market share of the big three
MUFG, SMBC and Mizuho rose slightly in 2016
from 13.5% to 14.4%, despite China Development
coming in second globally due to Yamal. The big
three French banks, with a market share 8.3%,
were joined in the Top 10 by Natixis.
Citigroup topped the project bond table, having
been in that position at half year, and RBC came
in second, the same as in 2015. MUFG moved up
to fourth. EY, PwC and Synergy Consulting were
again top of the advisory mandates won table,
while Societe Generale showed up well, once
again, in the advisory closed table.
Project Finance International January 25 2017
2016 LEAGUE TABLES
On the advisory side, the table is split into three
sections: private sector mandates, government or
government-owned sponsor advisory mandates, and
advice to bidders in a competition. Only financial
advisory mandates are included. The table measures
mandates won last year in these sectors and ranks
advisers accordingly in the total column. In addition,
there is a figure calculated for all mandates being
worked on by a firm in the overall column.
The advisory submissions are checked by the reporters
for accuracy to ensure they are mandates won last year
and not claimed for in previous years. This table is limited
to advisory mandates above US$20m. In addition, there
is a table of advisory mandates reaching financial close
last year. The table is ranked regionally and globally by the
total amount of funds raised by each financial adviser.
For the eighth year, a set of tables has been included
to meet the evolving needs of the project finance market
for multilaterals. These tables measure the involvement
of multilaterals in project finance deals in the emerging
markets, whether through export credit guarantees or direct
lending tranches. Loans to projects in the developed world
are included in their own developed world multilateral
table. It is likely, as the credit crunch takes hold, that the
multilaterals or international developmental finance
institutions (IDFIs) will become ever more important.
The 2016 league tables will now go on the
Thomson Reuters Deals Intelligence site (http://
dmi.thomsonreuters.com/). To ease the league table
process in 2016, it is worth keeping PFI and Thomson
Reuters staff up to-date.
Contact PFIs Rod Morrison (London 44 207 542
8329), Thomson Reuters Carina Israel (Manila 00 632
878 5867) and Alex Lembcke (London 44 207 542
6593) if there are concerns regarding the tables and
ongoing data collection.
The data team n
Americas
Project finance volume for 2016 came in
at US$55.9bn for the Americas, down from
US$93.2bn in 2015, as jumbo LNG transactions
disappeared and the race to bring more
generation online in PJM Interconnection cooled.
Of that total, US$33.8bn was done in the US,
a decrease from US$56.5bn in 2015. US volume
was more than seven times that of its closest
competitor nation in the Americas, Canada,
which saw more than US$4.8bn in deals booked,
down from US$8.8bn the previous year.
Chile moved up to third place in the Americas
from fifth place a year ago, with US$4.3bn booked
across 15 deals. The countrys aggressive power and
infrastructure plans boosted Chile to top the regions
countries by volume, putting it at 20th globally.
Chile was followed by Mexico with US$4bn and
Colombia with US$2.9bn. Colombian activity was
fuelled in part by the continuation of its large build-
51
 GLOBAL TOP 10 FOR LOANS out of highways, and numbers. Japanese GLOBAL TOP 10 FOR
(2015 POSITION IN BRACKETS) Argentina was spurred lenders were present ADVISORIES WON
(2015 POSITION IN BRACKETS)
1 - MUFG (1) by its new government in most of the
2 - China Development Bank () to raise US$2.4bn and regions main areas 1 - EY (2)
3 - SMBC (2) land in the sixth slot. of activity, including 2 - PwC (1)
4 - Mizuho (5) Highlighting the renewables, highways 3 - Synergy Consulting (3)
5 - Credit Agricole (6) impact of governmental and transmission. 4 - Societe Generale (15)
6 - Societe Generale (10) and macro forces, Banks such as 5 - Green Giraffe (7)
7 - BNP Paribas (9) Brazils fall from grace ING and Banco 6 - MUFG (9)
8 - ING (7) in project finance Santander also featured 7 - Credit Agricole (8)
9 - SBI Capital (4) markets continued, prominently, jumping 8 - SMBC (10)
10 - Natixis (13) with the country falling on the back of Mexicos 9 - BNP Paribas (18)
to seventh place in the pipeline expansion and 10 - TASC (14)
Americas from second in 2015, with US$1.2bn in deals renewables deals in that
booked, down from US$9.4bn. country and Chile. Grupo Bolivar and Bancolombia of
Power deals led activity for the Americas, with Colombia were the regions top local lenders, if you
US$32.8bn in transactions, down from US$39.1bn discount Santanders local subsidiaries, with the 4G
in the previous year. Power transactions were projects in Colombia offering up a number of deals for
spread over 148 deals versus 182 in 2015. A the banks.
total of US$11.8bn was done in the oil and gas The US again led the way internationally on
sector, down from US$31.3bn. The transportation bond volume, with US$13.6bn completed, up from
sector saw US$7.8bn in completed transactions, a US$10.8bn in 2015. Canadian issuance decreased to
decrease from more than US$13.6bn in 2015. US$3.6bn from US$4.9bn. Elsewhere in the Americas,
Mitsubishi UFJ led the Americas for the seventh a region-topping total of US$2.7bn was done in
consecutive year, with more than US$5.4bn in Mexico, putting the country in the fourth slot
completed transactions, down slightly from US$5.7bn globally and representing a huge jump considering it
in 2015. The bank completed 72 deals, representing was rather quiet on the bond front in 2015. Activity
9.7% of Americas loans, up from 6.2% last year. increased significantly as newly-minted Certificados
The bank remained extremely active in single de Capital de Desarrollo (CKDs) and other reforms
asset gas-fired and renewable transactions in the paved the way for fresh project finance capital.
US and Canada, which contributed most of its
activity, but also did a significant amount of oil Asia-Pacific
and gas lending throughout the Americas as well Financing activities in the Asia-Pacific region
as the occasional P3 transaction. declined dramatically by 24.9% in 2016 from
In Latin America the bank took large tickets a year earlier. A total of US$57.2bn of loan
and led some of the bigger deals in the region transactions were concluded during the year,
cementing its place atop the tables, lending down from US$76.26bn in 2015.
over US$100m to the Interchile and Mejillones- Delays in the implementation of PPP projects in
Cardones transmission deals in Chile as well the Philippines due to a general election held last
as participating in the Nueva Era and Carso year and delays in the Indonesian IPP programme
Gasoducto Norte pipeline financings in Mexico. due to a review of the power development plan
SMBC remained in the number two slot, with have contributed to the lower figures.
US$3.3bn in completed deals, and Santander remained Activity was relatively vibrant, particularly in the
in third place, with US$2.2bn done. Credit Agricole renewable space, but project sizes were generally
moved up to the number four slot from number six smaller, resulting in lower funding requirements.
and Mizuho fell from fourth place to fifth. The market is also expecting to see a number of IPPs
The year saw the major changes in Latin America being signed early in the new year.
of the past few years starting to show up in the SBI Capital was the top arranger last year, surging
league tables. Countries with aggressive growth back to the number one spot in the chart after giving
plans and reform strategies are starting to feature way the previous year to Bank of Taiwan, which had
more prominently, while banks that have positioned a one-off massive US$12bn train deal refinancing. In
themselves to make the most of them are reaping 2016, Indias largest
the rewards. bank emerged highest GLOBAL TOP 10 FOR
GLOBAL TOP 10 FOR BONDS Mexico in particular with 11 transactions ADVISORIES CLOSED
(2015 POSITION IN BRACKETS) (2015 POSITION IN BRACKETS)
saw the impact of the amounting to
1 - Citigroup (3) opening of its energy US$5,016.4bn, featuring 1 - Portland Advisers (34)
2 - RBC (2) sector, with US$4.09bn a number of significant 2 - Societe Generale (1)
3 - Societe Generale (9) landed across 16 deals in refinancing facilities 3 - China Development Bank ()
4 - MUFG (12) the loan market putting such as that of HPCL 3 - Gazprombank ()
5 - HSBC (1) it at 21st globally. Mittal Energy and Sasan 3 - Sberbank ()
6 - JP Morgan (11) The globes top Power, which tapped 6 - Macquarie (7)
7 - Santander (13) lenders all featured the 5/25 refinancing 7 - Deutsche (12)
8 - RBS (16) prominently in the scheme introduced by 8 - PwC (2)
9 - Goldman Sachs (15) region on the back Reserve Bank of India to 9 - MUFG (11)
10 - BNP Paribas (45) of the strong country help provide flexibility 10 - UBS (9)

52 Project Finance International January 25 2017

 2016 LEAGUE TABLES

MULTILATERAL TOP 5 FOR to developers, sewerage deals were ASIA PACIFIC TOP 5 FOR
EMERGING MARKETS especially with limited, with only two LOAN ARRANGERS
(2015 POSITION IN BRACKETS) (2015 POSITION IN BRACKETS)
suspended projects. deals worth US$762m.
1 - JBIC (1) The next top three Deals in the 1 - SBI Capital (2)
2 - Kexim (4) spots were dominated industrial sector 2 - Mizuho (6)
3 - IFC/MIGA (2) by the Japanese mega- were also subdued, 3 - MUFG (3)
4 - UKEF () banks: Mizuho Bank, with only one deal 4 - SMBC (5)
5 - IBD (5) MUFG and SMBC as worth US$591.7m 5 - CBA (7)
second, third and recorded. Mining,
MULTILATERAL TOP 5 FOR fourth busiest banks telecommunications and the waste and recycling
DEVELOPED MARKETS
(2015 POSITION IN BRACKETS)
respectively. All were sectors were also quiet, with a total of four deals
active in Indonesia, worth just over US$500m.
1 - EIB (1) Australia and the
2 - EFK (5) domestic Japanese EMEA
3 - JBIC (7) market, which saw The project finance loan market in the EMEA
4 - Finnvera (2) many renewable region was up 14% from US$108.2bn in 2015 to
5 - NIB (4) energy projects being US$123.3bn in 2016. The main reason was one
pursued. mega project, the US$19bn Yamal LNG financing
The four major Australia banks occupy the in Russia. Project bond issuance in the region
next four positions, CBA, NAB, Westpac and stood at US$16.6bn, compared with US$10.3bn
ANZ, in that order. French bank Credit Agricole last year. Russia topped the loan country table
was ninth and rounding out the top 10 is China due to Yamal, while the UK topped the bond
Development Bank with its two projects a country table. China Development Bank topped
bilateral for Shenhua Guohua in Indonesia and a the lending table, again due to that one deal,
syndicated loan for White Rock in Australia. followed by the Japanese, MUFG and SMBC, and
It is not surprising that Australia tops the deal the French, BNP Paribas and Credit Agricole.
table in the Asia-Pacific region considering that the The Gulf region accounted for US$27.2bn of
countrys two major states, NSW and Victoria, have the loan table, down slightly on 2015 where the
been very active in port and power asset sales and figure was US$28.5bn. Saudi Arabia was down from
transport infrastructure deals over the past year. US$13bn to US$7.9bn but Oman, Kuwait, UAE and
While the number of Australian deals was relatively Qatar showed up well. Turkey was down from
low at 33, the deals were nevertheless worth a massive US$10bn to US$3.4bn while FSU was boosted by the
US$24.3bn, which also put the country second on the Yamal and TCO deals, up to US$22.5bn.
global deal list after the United States. The African market halved from US$10.5bn down
Japan and India also had a good year, recording to US$5.2bn as Nigeria fell from US$4.2bn to just
51 and 50 deals respectively that were worth US$180m. This meant the emerging market part of
US$9.4bn and US$8.5bn. In Japan, the airport leasing the EMEA total was US$58.3bn, leaving US$65bn for
deals were the largest and the country is currently Europe exactly the same figure as last year.
experiencing a large number of solar deals. In India, The big theme in Europe last year was offshore
infrastructure deals are still the big ticket items. wind farms and deal activity in this sector is set to
Indonesia was the next biggest AP deal-maker continue into 2017. Elsewhere, there were fewer
with 10 deals worth US$6.5bn, and with oil and mega deals and the big infraco financings were
gas and power deals recording the most activity. not as predominant as in the past. There were a
New Zealand is climbing up the deal ladder thanks lot more deals in 2016, 387 compared with 329
to the countrys increased use of PPPs for schools, in 2015. There were also many small to medium-
prisons and roads. New Zealand registered three deals sized renewable deals, whether backing new
worth US$1.4bn. South Korea also recorded US$1.4bn projects or refinancings/M&A plays.
on the back of six deals largely in the small PPP sector. MUFG was top of the non-China Development Bank
The next highest deal-maker in the tables was table followed by SMBC, BNP Paribas, Credit Agricole,
Thailand with four deals worth US$513.2m. In the ING, Societe Generale, Sberbank, Natixis and NordLB.
rest of the Asia-Pacific, Vietnam, China, Mongolia Aside from CDB and Sberbank, the banks in the Top
and Taiwan had a quiet year, with a combined 10 all transacted a lot of deals. For its US$2.4bn total,
five deals worth slightly less than US$400m NordLB, for example, did 47 deals at an average of
As expected, the power sector was the busiest, with US$51.4m per deal. At the top, MUFG did 50 deals
102 deals worth US$31.7bn, while transportation for its US$5bn at an average of US$100m each. One
recorded 35 deals worth US$11.9bn. Oil and gas was surprise was that KfW IPEX dropped from eighth to
also a busy sector, with 13 deals worth US$4bn. 17th in the table.
AMERICAS TOP 5 FOR Leisure and property Bond activity was EMEA TOP 5 FOR
LOAN ARRANGERS recorded six deals up 61% to US$16.6bn LOAN ARRANGERS
(2015 POSITION IN BRACKETS) (2015 POSITION IN BRACKETS)
worth US$2bn while as institutional
1 - MUFG (1) the petrochemical investors became more 1 - China Development Bank ()
2 - SMBC (2) sector was subdued competitive once again 2 - MUFG (1)
3 - Santander (3) with only two deals and started to take part 3 - SMBC (2)
4 - Credit Agricole (6) worth US$862m. in bank deals with their 4 - BNP Paribas (5)
5 - Mizuho (4) Similarly, water and own tranches.. 5 - Credit Agricole (3)

Project Finance International January 25 2017 53

GLOBAL INITIAL MANDATED LEAD ARRANGERS
Mandated arrangers US$(m) % No of deals Mandated arrangers US$(m) % No of deals

1 Mitsubishi UFJ 14,458.6 6.1 152 66 Groupe BPCE 775.4 .3 13

2 China Development Bank 13,202.6 5.6 3 67 ICICI 772.0 .3 6
3 SMBC 11,359.9 4.8 112 68 Wells Fargo 762.4 .3 8
4 Mizuho Financial 7,676.3 3.2 65 69 Bancolombia 750.1 .3 3
5 Credit Agricole 7,389.7 3.1 79 70 DZ Bank 715.9 .3 9
6 Societe Generale 6,148.9 2.6 68 71 Axis Bank 706.9 .3 10
7 BNP Paribas 6,051.0 2.6 65 72 Commerzbank 657.4 .3 11
8 ING 5,772.9 2.4 66 73= Banque Saudi Fransi 629.5 .3 3
9 State Bank of India 5,277.5 2.2 12 73= Samba Financial 629.5 .3 3
10 Natixis 4,518.2 1.9 58 73= Saudi British Bank 629.5 .3 3
11 Commonwealth Bank of Australia 4,183.8 1.8 38 76 Nordea 620.5 .3 5
12 Santander 4,119.7 1.7 62 77 Agricultural Bank of China 600.2 .3 2
13 HSBC 3,745.2 1.6 31 78 Landesbank Hessen-Thueringen 599.9 .3 11
14 Nord/LB 3,359.2 1.4 66 79 Rizal Commercial Bank 584.0 .2 2
15 National Australia Bank 3,170.0 1.3 31 80 Credit Suisse 574.2 .2 3
16 Sberbank 2,997.8 1.3 3 81 CIT Group 571.1 .2 14
17 Intesa Sanpaolo 2,750.7 1.2 23 82 SunTrust Bank 570.2 .2 7
18 Citi 2,577.1 1.1 22 83 KBC Group 564.3 .2 6
19 ICBC 2,503.6 1.1 17 84 Alinma Bank 558.8 .2 2
20 Scotiabank 2,464.7 1.0 19 85 HSH Nordbank 536.3 .2 8
21 Bank of China Ltd 2,452.0 1.0 15 86 Credit Mutuel 535.3 .2 9
22 Gazprombank 2,412.4 1.0 5 87 UOB 528.3 .2 4
23 Bank of America Merrill Lynch 2,373.0 1.0 17 88 Swedbank 524.7 .2 3
24 UniCredit 2,354.5 1.0 30 89 US Bancorp 523.0 .2 1
25 KfW IPEX-Bank 2,301.7 1.0 24 90 Norinchukin Bank 521.1 .2 2
26 JP Morgan 2,101.9 .9 11 91 BMO Capital Markets 515.3 .2 7
27 National Bank of Kuwait 2,097.4 .9 2 92 Arab Banking Corporation 506.7 .2 3
28 Westpac Banking 2,010.4 .9 14 93 La Banque Postale 477.9 .2 11
29 Korea Development Bank 1,999.8 .8 18 94 Yes Bank 471.9 .2 7
30 Kuwait Finance House 1,990.0 .8 1 95 Danske Bank 458.1 .2 2
31 CaixaBank 1,942.0 .8 42 96 Banco Popular Espanol 432.9 .2 9
32 ANZ 1,941.6 .8 15 97 IDFC 428.6 .2 7
33 BBVA 1,941.3 .8 34 98 Banco De Oro 415.6 .2 1
34 Deutsche Bank 1,857.0 .8 14 99 Macquarie Group 407.9 .2 3
35 Standard Chartered 1,756.1 .7 15 100 Bank Muscat 398.3 .2 4
36 RBS 1,663.5 .7 18 101 Ziraat Bankasi 396.5 .2 2
37 CIBC 1,650.7 .7 19 102 Cassa Depositi e Prestiti 391.3 .2 3
38 SEB 1,622.6 .7 20 103 Landesbank Baden-Wurttemberg 386.9 .2 7
39 Rabobank 1,542.5 .7 26 104 GE Capital 385.6 .2 4
40 Development Bank of Japan 1,344.1 .6 7 105= Bank Mandiri 373.6 .2 4
41 Lloyds Bank 1,327.8 .6 11 105= Bank Negara Indonesia 373.6 .2 4
42 Banco de Sabadell 1,313.3 .6 32 105= Bank Rakyat Indonesia 373.6 .2 4
43 DNB ASA 1,313.1 .6 14 108 AK Bank 371.5 .2 2
44 Siemens Financial 1,292.4 .5 20 109= Bank Al Bilad 369.5 .2 1
45 Turkiye Garanti Bankasi 1,222.1 .5 13 109= Riyadh Bank 369.5 .2 1
46 DBS 1,211.6 .5 11 111 OCBC 365.0 .2 3
47 Bayerische Landesbank 1,208.6 .5 19 112 Jefferies 360.0 .2 1
48 Morgan Stanley 1,198.2 .5 7 113 Bank Dhofar 357.5 .2 4
49 ABN AMRO Bank 1,195.3 .5 10 114 TD Securities 336.8 .1 5
50 KeyBanc Capital Markets 1,170.6 .5 24 115 Unione di Banche Italiane 331.7 .1 6
51 RBC Capital Markets 1,149.9 .5 12 116 VTB Capital 331.4 .1 2
52 Sumitomo Mitsui Trust 1,112.3 .5 10 117 KfW Bankengruppe 324.7 .1 4
53 CoBank 1,108.0 .5 15 118 Bank Nederlandse Gemeenten 323.8 .1 5
54 Natl Comml Bank Saudi Arabia 1,094.7 .5 5 119 First Gulf Bank 323.6 .1 2
55 Bank of Philippine Islands 1,082.0 .5 3 120 Turkiye Is Bankasi 316.7 .1 3
56 Shinsei Bank 1,055.6 .4 17 121 BMPS 311.8 .1 9
57 Investec 1,033.0 .4 10 122 Unicaja 309.1 .1 7
58 Goldman Sachs 868.0 .4 4 123 Gulf International Bank 303.1 .1 2
59 China Construction Bank 863.8 .4 6 124 Al-Ahli United Bank 293.9 .1 2
60 Sociedades Bolivar 856.5 .4 3 125 DGZ-DekaBank 285.0 .1 4
61 Bankia 822.3 .3 15 126 Indusind-Bank 281.6 .1 6
62 Barclays 797.8 .3 8 127 Union National Bank of UAE 261.1 .1 1
63 Al Rajhi Bank 796.5 .3 2 128 Aresbank 250.0 .1 1
64 Bank of Communications 791.2 .3 4 129 Banco Estado 240.0 .1 3
65 Qatar National Bank 787.2 .3 3 130 National Bank of Canada Finl 234.9 .1 5

54 Project Finance International January 25 2017

 2016 LEAGUE TABLES

GLOBAL INITIAL MANDATED LEAD ARRANGERS CONTINUED

Mandated arrangers US$(m) % No of deals Mandated arrangers US$(m) % No of deals

131 Associated Banc-Corp 222.3 .1 7 =195 Yevraziyskiy Bank 65.0 0.0 1

132 China Petroleum Finance 218.3 .1 1 =197 Capital One Financial Corp 62.2 0.0 1
133 Old Mutual 215.0 .1 1 =197 Piper Jaffray Cos 62.2 0.0 1
=134 BBK BSC 214.3 .1 1 199 Portigon 59.8 0.0 2
=134 National Bank of Bahrain 214.3 .1 1 200 Banco de Chile 58.7 0.0 1
136 Banco de Credito e Inversiones 210.9 .1 3 201 Banca Popolare di Milano 58.4 0.0 2
137 Banco Portugues Investimento 208.6 .1 7 202 TMB Bank 58.3 0.0 1
138 Bicecorp 205.0 .1 3 =203 Banco Grupo Cajatres 57.9 0.0 1
139 China Banking Corp 196.0 .1 1 =203 Novacaixagalicia 57.9 0.0 1
140 Bpifrance 193.9 .1 6 205 ICCREA 57.6 0.0 3
141 Rand Merchant Bank 185.1 .1 2 206 Aozora Bank 55.3 0.0 1
142 OP-Pohjola Group Central Coop 182.9 .1 1 207 CDC Group 54.5 0.0 1
143 NH Investment & Securities 181.3 .1 1 =208 Oman Arab Bank 53.3 0.0 1
144 Liberbank 174.7 .1 5 =208 Sohar Bank 53.3 0.0 1
=145 Metropolitan Bank & Trust 168.4 .1 1 210 Banco Consorcio 52.8 0.0 1
=145 Security Bank Corp 168.4 .1 1 211 Dexia 52.3 0.0 1
147 IDBI Bank 164.4 .1 1 =212 Bank Nizwa 50.0 0.0 1
148 Desjardins Group 157.6 .1 4 =212 Bank of New York Mellon 50.0 0.0 1
149 Caixa Economica Federal 155.9 .1 1 =212 East-West United Bank 50.0 0.0 1
150 Nedbank Capital 153.6 .1 1 215 Triodos Bank 45.7 0.0 4
151 Banesco Banco Universal 153.2 .1 5 216 Korea Exchange Bank 43.5 0.0 1
152 Emerging Africa Infrastructure 148.8 .1 6 =217 Banco do Brasil 39.3 0.0 1
=153 Turkiye Vakiflar Bankasi 146.5 .1 1 =217 National Bank of Greece 39.3 0.0 1
=153 Yapi Ve Kredi Bankasi 146.5 .1 1 219 Alior Bank 38.0 0.0 2
155 National Bank of Abu Dhabi 144.7 .1 3 =220 Standard Bank 35.0 0.0 1
156 Kutxabank 143.1 .1 3 =220 Deutsche Investitions- und 35.0 0.0 1
157 Regions Financial 141.1 .1 1 222 Turkiye Halk Bankasi 34.5 0.0 1
158 Banca Popolare Emilia Romagna 134.9 .1 5 223 EFG Group 33.1 0.0 1
=159 Commercial Bank of Qatar 133.3 .1 1 224 First Financial 31.1 0.0 1
=159 Masraf Al Rayan 133.3 .1 1 225 Western Alliance Bancorp 30.8 0.0 1
161 ASN Bank 129.4 .1 2 226 Manufacturers & Traders Trust 30.6 0.0 1
162 Arab National Bank 128.1 .1 1 227 Banca Popolare di Bari 30.5 0.0 1
163 Banco Agrario de Colombia 120.0 .1 1 =228 BGEO Group 30.0 0.0 1
164 Malayan Banking 119.3 .1 1 =228 DEG bank 30.0 0.0 1
165 Arzan Finl Group 118.1 0.0 2 =228 Banco Cooperativo Espanol 29.9 0.0 1
166 Raiffeisen Bank International 111.4 0.0 2 =228 Bank of India 29.9 0.0 1
167 Alberta Treasury 111.3 0.0 3 232 Kommunekredit 26.5 0.0 1
168 KB Financial 109.6 0.0 1 233 BGFI Holding 26.0 0.0 1
169 Itau Unibanco 107.3 0.0 2 =234 Cathay United Bank 25.6 0.0 1
=170 Bankinter 103.7 0.0 2 =234 Entie Commercial Bank 25.6 0.0 1
=170 Erste Group 103.7 0.0 2 236 Banco Ceiss 25.2 0.0 2
172 Commercial Intl Bank 102.0 0.0 1 =237 CTBC Financial 23.0 0.0 1
173 Handelsbanken Capital Markets 99.8 0.0 1 =237 NIBC 23.0 0.0 1
174 Grupo Financiero Banorte-Ixe 94.5 0.0 2 239 Bank Ochrony Srodowiska 15.0 0.0 1
175 Mega Financial 88.9 0.0 3 240 Cajasur 13.3 0.0 1
176 Clean Energy Finance 88.6 0.0 1 241 European Arab Bank 12.0 0.0 1
177 Hana Financial 82.7 0.0 1 242 Tokyo Star Bank 10.3 0.0 2
178 Caja de Ahorros y M Zaragoza 82.3 0.0 2 243 Banca di Credito Cooperativo 8.2 0.0 1
179 Caterpillar Financial Services 80.0 0.0 1 244 Caixa Geral de Depositos 8.0 0.0 1
180 Banco Mare Nostrum 78.8 0.0 2 245 Oikocredit International 4.0 0.0 1
181 Bank of Ireland 77.1 0.0 1 Total* 236,455.8 100.0 770
182 Silicon Valley Bank 76.7 0.0 2
183 Caisse Nationale de Prevoyance 76.3 0.0 2 *Proportional Credit

184 Banco del Desarrollo 75.0 0.0 1 Source: Thomson Reuters

185 PNC Financial Services 73.5 0.0 2

186 Shinhan Financial 73.4 0.0 1
187 Kasikornbank 72.9 0.0 2
188 Alpha Bank 72.4 0.0 2
189 Allied Irish Banks 70.5 0.0 2
190 Hokuto Bank 69.9 0.0 2
=191 HDFC Bank 69.8 0.0 5
=191 Kotak Mahindra Bank 69.8 0.0 5
193 Credito Valtellinese 67.7 0.0 3
194 Caixa dEstalvis de Catalunya 65.7 0.0 4
=195 International Investment Bank 65.0 0.0 1

Project Finance International January 25 2017 55

GLOBAL LOANS BY COUNTRY
Nation US$(m) % No of deals Nation US$(m) % No of deals
United States of America 33,843.4 14.3 121
Peru 857.7 .4 4
Australia 24,319.0 10.3 33
Guinea 823.0 .3 1
Russian Federation 19,081.2 8.1 12
South Africa 644.3 .3 2
United Kingdom 18,141.4 7.7 72
Portugal 600.1 .3 5
Japan 9,191.4 3.9 50
Thailand 513.2 .2 4
India 8,583.8 3.6 50
Uzbekistan 500.0 .2 1
Saudi Arabia 7,965.3 3.4 3
Gabon 434.0 .2 2
Indonesia 7,005.4 3.0 11
Austria 432.1 .2 3
France 6,919.0 2.9 57
Egypt 340.5 .1 1
Sweden 6,369.8 2.7 9
Croatia 284.6 .1 1
Spain 6,002.4 2.5 36
Panama 270.0 .1 1
Oman 5,919.5 2.5 8
Jamaica 265.0 .1 1
Italy 5,006.3 2.1 35
Uruguay 260.0 .1 4
Norway 4,948.7 2.1 7
Tanzania 258.8 .1 1
Canada 4,872.4 2.1 30
Greece 204.1 .1 3
Chile 4,398.3 1.9 15
Mali 200.0 .1 1
Mexico 4,089.2 1.7 16
Iceland 191.5 .1 2
Germany 4,049.4 1.7 21
Nigeria 180.0 .1 2
Kuwait 3,980.0 1.7 1
Georgia 177.0 .1 2
Netherlands 3,968.7 1.7 16
Costa Rica 149.5 .1 1
Turkey 3,446.6 1.5 17
China 146.9 .1 3
United Arab Emirates 3,130.2 1.3 4
Guernsey 143.7 .1 1
Belgium 3,113.5 1.3 8
Poland 131.8 .1 2
Kazakhstan 3,000.0 1.3 1
El Salvador 117.7 0.0 1
Colombia 2,985.8 1.3 11
Vietnam 115.0 0.0 1
Qatar 2,965.0 1.3 2
Sierra Leone 109.0 0.0 1
Philippines 2,614.4 1.1 5
Dem Rep of the Congo 105.0 0.0 1
Ghana 2,435.0 1.0 3
Mongolia 90.0 0.0 1
Argentina 2,424.0 1.0 3
Guatemala 87.0 0.0 1
Bahrain 2,241.1 .9 2
Lesotho 84.0 0.0 1
Singapore 1,786.6 .8 2
Taiwan 76.9 0.0 1
Republic of Ireland 1,458.3 .6 16
Denmark 72.7 0.0 1
South Korea 1,416.5 .6 6
Macedonia 69.0 0.0 1
New Zealand 1,382.2 .6 2
Senegal 60.7 0.0 2
Brazil 1,282.0 .5 5
Uganda 59.3 0.0 4
Slovak Republic 1,077.8 .5 1
Lithuania 41.3 0.0 2
Jordan 968.9 .4 7
Cameroon 26.0 0.0 1
Finland 951.9 .4 5
Total 236,455.8 100.0 770

GLOBAL LOANS BY SECTOR

Sector Volume (US$m)
Power 110,915.8
Oil & Gas 44,311.6
Transportation 43,278.6
Petrochemicals 14,485.2
Leisure & Property 7,683.7
Industry 6,557.5
Mining 4,058.5
Water & Sewerage 3,371.1
Telecommunications 942.7
Waste & Recycling 851.1
Total 236,455.8

56 Project Finance International January 25 2017

 2016 LEAGUE TABLES

AMERICAS INITIAL MANDATED LEAD ARRANGERS

Lead manager Volume (US$m) % No of deals Deals

1 Mitsubishi UFJ 5,406.7 9.7 72 AIA Colchis (United States, 58.9), Alamo 7 (United States, 13.2), Atlantic Power (United States, 150.0), BIF III
Holtwood (United States, 65.0), Blythe Solar Holdings II (United States, 26.1), Blythe Solar Holdings (United
States, 26.2), Calpine Steamboat Holdings (United States, 124.7), Calumet Concession Partners (United States,
53.1), Carso Gasoducto Norte de Cv (Mexico, 60.0), CD Global Solar II ID Borrower (United States, 45.6), CED
California Holdings (United States, 43.0), Cedar Creek II Wind Facility (United States, 70.9), Cedro Hill Windfarm
(United States, 56.0), Cedro Hill Windfarm (United States, 0.1), Cedro Hill Windfarm (United States, 0.7), Central
El Campesino (Chile, 141.7), Cheniere Energy Partners (United States, 233.3), Cornerstone Natural Gas Co (United
States, 109.6), CPV Towantic (United States, 68.5), Dakota Access (United States, 147.1), DP World (Canada, 112.4),
EDF en Canada Solar Arnprior (Canada, 17.8), EDF en Canada Solar Arnprior (Canada, 19.0), Edgeconnex Chicago
Hldg (United States, 74.9), EFS Cogen Holdings I (United States, 204.2), Electra Wind (United States, 105.0),
Emerald State Solar (United States, 90.2), Fowler Ridge II Wind Farm (United States, 68.1), Goreway Station
Partnership (Canada, 112.9), Grand Valley 1 (Canada, 37.6), Green Racer Wind, (United States, 71.0), Grey
Highlands Clean Energy (Canada, 33.0), Heartland Wind I (United States, 37.1), Heartland Wind II (United States,
35.3), Impulsora Pipeline (Mexico, 31.8), Interchile Transmission (Chile, 128.5), KMC Thermo (United States, 40.0),
Kruger Energy Chatham (Canada, 75.1), Lackawanna Energy Center (United States, 82.7), Marshall Wind Energy
(United States, 35.0), Mehoopany Wind Energy (United States, 67.6), Mejilones-Cardones (Chile, 115.1), Midstream
de Mexico (Mexico, 97.1), MIP III Yellowtail Hldg (United States, 77.5), Mountain View Partners GP (Canada, 60.9),
Net Mexico Pipeline (United States, 111.5), Newark Energy Center (United States, 181.3), NextEra Cedar Point II and
E (Canada, 60.8), NR Capital General Partnership (Canada, 104.6), NSG Holdings (United States, 141.2), NTE
Carolinas (United States, 48.4), Rosamond I (United States, 38.5), Russell City Energy Center (United States,
123.9), SBL Holdco (United States, 43.5), Seigneurie de Beaupre II & III (Canada, 123.5), SLS Wind Development
(Canada, 22.9), Solar Star Projects (United States, 150.5), Southgate Solar (Canada, 26.8), SR Wind Development
(Canada, 27.5), Stardale Solar Project (Canada, 83.6), Sunderland Solar (Canada, 37.7), SunE Rutley (Canada,
38.9), SunE South Stormont (Canada, 69.7), Sune Welland Ridge (Canada, 48.2), Tenaska Pennsylvania Partners
(United States, 86.7), Total Sunpower El Pelicano (Chile, 49.9), Tsuga Pine Wind (United States, 40.3), Veresen Mid
(Canada, 35.4), Veresen Mid (Canada, 15.0), Virginia International Gateway (United States, 110.0), Voyager Wind I
Finance (United States, 88.2), WG Partners (United States, 175.0)
2 SMBC 3,385.1 6.1 44 Autopista Conexion Pacifico 1 (Colombia, 37.5), Autopistas del Nordeste C por (Colombia, 83.3), BIF III Holtwood
(United States, 65.0), Blythe Solar Holdings II (United States, 26.1), Blythe Solar Holdings (United States, 26.2),
Boulder Solar I Project (United States, 56.8), Central El Campesino (Chile, 141.7), Cheniere Corpus Christi Hldg
(United States, 87.5), Cheniere Energy Partners (United States, 233.3), Concesionaria Vial Sierra (Peru, 66.7),
Conexion Norte Highway (Colombia, 75.0), Coronal Tulare Holdings (United States, 72.9), CVSR HoldCo (United
States, 12.7), Dakota Access (United States, 147.1), Deepwater Wind Block Island (United States, 57.3), Desert
Sunlight (United States, 30.7), Edgeconnex Chicago Hldg (United States, 74.9), EE Waianae Solar Holdings
(United States, 71.2), Emerald State Solar (United States, 90.2), Etobicoke Gen Hosp Phase 1 (Canada, 26.4),
Fenix Power Peru (Peru, 182.9), GFS I CLASS B MEMBER (United States, 36.0), Glenfarne Grp Acq Project (Chile,
27.8), Goreway Station Partnership (Canada, 112.9), Impulsora Pipeline (Mexico, 31.8), Interchile Transmission
(Chile, 128.5), Lackawanna Energy Center (United States, 82.7), Long Beach Civic Center (United States, 213.0),
Luning Energy Holdings (Chile, 30.0), Marshall Wind Energy (United States, 35.0), Mejilones-Cardones (Chile,
115.1), Navajo Transitional Energy Co (United States, 57.5), NTE Carolinas (United States, 48.4), Parque Eolico
Cabo Leones (Chile, 46.1), Poinsettia Finance Ltd (Mexico, 166.7), Port City Water Partners (Canada, 84.7), Santiago
Solar Project (Chile, 39.5), SBL Holdco (United States, 43.5), Seigneurie de Beaupre II & III (Canada, 123.5),
Seneca College Expansion (Canada, 47.4), State Street Redevelopment (United States, 25.2), Total Sunpower El
Pelicano (Chile, 49.9), TransEd Partners GP (Canada, 29.1), Vista Ridge (United States, 145.8)
3 Santander 2,292.9 4.1 31 Arturo Merino Benitez Intl (Chile, 148.1), Bethel Wind Farm (United States, 169.2), Cedar Creek II Wind Facility
(United States, 70.9), Chapada do Piau II Holding (Brazil, 87.4), Concesionaria Autopista (Mexico, 244.8),
Concesionaria Tunel de (Mexico, 44.4), Concesionaria Vial Sierra (Peru, 66.7), Conipsa (Mexico, 7.5), Desert
Sunlight (United States, 30.7), Duoro Seas Shipping Project (Mexico, 105.7), Edgeconnex Chicago Hldg (United
States, 74.9), Fermaca Pipeline de Occidente (Mexico, 50.0), Fermaca Pipeline La Laguna (Mexico, 69.1), GFS I
CLASS B MEMBER (United States, 36.0), Impulsora Pipeline (Mexico, 31.8), Leeward Renewable Energy (United
States, 85.6), Mejilones-Cardones (Chile, 58.8), Mississippi Solar 2 (United States, 30.6), Net Mexico Pipeline
(United States, 75.5), North Star (United States, 56.6), Oaxaca I Wind (Mexico, 33.3), RE Roserock Holdings
(United States, 48.5), Red de Carreteras de Occidente (Mexico, 82.7), Refineria La Pampilla (Peru, 252.0),
Rosamond I (United States, 38.5), Santiago International Airport (Chile, 72.8), Santiago Occidente Hosp (Chile,
87.3), Serra Para (Brazil, 50.7), sPower FinCo 3 (United States, 17.0), sPower FinCo 3 (United States, 25.9), Tsuga
Pine Wind (United States, 40.3)
4 Credit Agricole 2,232.5 4.0 30 8point3 Energy Partners (United States, 50.0), Arturo Merino Benitez Intl (Chile, 68.8), Autopista Conexion
Pacifico 1 (Colombia, 37.5), Boulder Solar I Project (United States, 56.8), Calpine Steamboat Holdings (United
States, 124.7), Calumet Concession Partners (United States, 53.1), Central El Campesino (Chile, 141.7), Clean Energy
Future - Lordstow (United States, 64.9), Cornerstone Natural Gas Co (United States, 109.6), CPV Towantic (United
States, 68.5), Dakota Access (United States, 147.1), DP World (Canada, 112.4), Fiduciaria Corficolombiana

Project Finance International January 25 2017 57

AMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUED
Lead manager Volume (US$m) % No of deals Deals
(Colombia, 26.0), GFS I CLASS B MEMBER (United States, 36.0), Green Racer Wind, (United States, 71.0),
Heartland Wind I (United States, 37.1), Heartland Wind II (United States, 35.3), Interchile Transmission (Chile,
128.5), Leeward Renewable Energy (United States, 85.6), Mississippi Solar 2 (United States, 30.6), NTE Carolinas
(United States, 48.4), Parque Eolico Cabo Leones (Chile, 46.1), Poinsettia Finance Ltd (Mexico, 166.7), Santiago
International Airport (Chile, 72.8), Santiago Solar Project (Chile, 39.5), Total Sunpower El Pelicano (Chile, 49.9),
Tsuga Pine Wind (United States, 40.3), Vientos de Pastorale (Uruguay, 49.9), Vista Ridge (United States, 145.8),
Voyager Wind I Finance (United States, 88.2)
5 Mizuho Financial 2,101.4 3.8 26 Autopista Conexion Pacifico 1 (Colombia, 37.5), Boulder Solar I Project (United States, 56.8), Carso Gasoducto
Norte de Cv (Mexico, 60.0), Cheniere Corpus Christi Hldg (United States, 87.5), Cheniere Energy Partners (United
States, 233.3), Dakota Access (United States, 147.1), Elwood Energy (United States, 55.0), Emerald State Solar
(United States, 90.2), Fermaca Pipeline de Occidente (Mexico, 50.0), Fermaca Pipeline La Laguna (Mexico, 69.1),
Goreway Station Partnership (Canada, 112.9), Grande Prairie Wind (United States, 66.0), Mejilones-Cardones
(Chile, 115.1), NextEra Cedar Point II and E (Canada, 60.8), Poinsettia Finance Ltd (Mexico, 166.7), Rio Bravo I Solar
Project (United States, 62.5), Rio Bravo II Solar Project (United States, 62.6), Rosamond I (United States, 38.5),
SBL Holdco (United States, 43.5), Seigneurie de Beaupre II & III (Canada, 123.5), SoCore 2016 DG Portfolio (United
States, 37.6), Southgate Solar (Canada, 26.8), SunPower Construction Revolver (United States, 200.0), Veresen
Mid (Canada, 35.4), Veresen Mid (Canada, 15.0), Wildwood II Solar Project (United States, 48.0)
6 Citigroup 1,628.6 2.9 13 8point3 Energy Partners (United States, 50.0), Autopistas del Nordeste C por (Colombia, 83.3), Calumet
Concession Partners (United States, 53.1), Dakota Access (United States, 147.1), Desert Sunlight (United States,
30.7), EFS Cogen Holdings I (United States, 204.2), EFS Cogen Holdings I (United States, 509.4), ENAP Sipetrol
Argentina (Argentina, 50.0), Fiduciaria Corficolombiana (Colombia, 26.0), Mariah del Norte (United States, 170.0),
Newark Energy Center (United States, 181.3), Tenaska Pennsylvania Partners (United States, 86.7), Transportadora
de Energia de (Guatemala, 37.0)
7 Societe Generale 1,594.2 2.9 18 Broadview Energy Project (United States, 181.7), Castleton Commodities Intl (United States, 62.2), Cedar Creek II
Wind Facility (United States, 70.9), Central El Campesino (Chile, 141.7), Cheniere Energy Partners (United States,
233.3), Clean Energy Future - Lordstow (United States, 64.9), CPV Towantic (United States, 68.5), Dakota Access
(United States, 147.1), Deepwater Wind Block Island (United States, 57.3), Desert Sunlight (United States, 30.7),
Fowler Ridge II Wind Farm (United States, 68.1), Impulsora Pipeline (Mexico, 31.8), Lackawanna Energy Center
(United States, 82.7), Net Mexico Pipeline (United States, 75.5), Santiago International Airport (Chile, 72.8), Tsuga
Pine Wind (United States, 40.3), Vista Ridge (United States, 145.8), Western Interconnect (United States, 18.9)
8 ING 1,356.4 2.4 16 Calpine Steamboat Holdings (United States, 124.7), Calumet Concession Partners (United States, 53.1), Castleton
Commodities Intl (United States, 62.2), Cheniere Corpus Christi Hldg (United States, 87.5), Cornerstone Natural
Gas (United States, 109.6), CPV Towantic (United States, 68.5), Dakota Access (United States, 147.1), Fermaca
Pipeline de Occidente (Mexico, 50.0), Fermaca Pipeline La Laguna (Mexico, 69.1), Lackawanna Energy Center
(United States, 82.7), MIP III Yellowtail Hldg (United States, 77.5), Net Mexico Pipeline (United States, 75.5), NTE
Carolinas (United States, 48.4), RE Shire Holdings (United States, 30.8), Russell City Energy Center (United States,
123.9), Vista Ridge (United States, 145.8)
9 Bank of America Merrill Lynch 1,219.1 2.2 9 Atlantic Power (United States, 150.0), Castleton Commodities Intl (United States, 62.2), Cheniere Energy Partners
(United States, 233.3), Clean Energy Future - Lordstow (United States, 64.9), Dona Carmen PV Project (Chile,
20.0), Electra Wind (United States, 105.0), I-285/SR 400 (United States, 458.0), Mako Solar (United States, 39.0),
Tenaska Pennsylvania Partners (United States, 86.7)
10 Morgan Stanley 1,184.8 2.1 6 Broadview Energy Project (United States, 181.7), Cheniere Energy Partners (United States, 233.3), EFS Cogen
Holdings I (United States, 204.2), EFS Cogen Holdings I (United States, 509.4), Fluvanna Wind Energy (United
States, 37.4), Western Interconnect (United States, 18.9)
11 KeyBanc Capital Markets 1,170.6 2.1 24 Benson Creek Windfarm Hldg 1 (United States, 6.4), Broadview Energy Project (United States, 181.7), CD Global
Solar NC Borrower (United States, 52.3), Clean Energy Future - Lordstow (United States, 64.9), Deepwater Wind
Block Island (United States, 57.3), DESRI Portal Ridge Dvlp (United States, 17.2), Durbin Creek Prospector (United
States, 13.8), FR Comanche Holdings (United States, 64.8), Jett Creek Windfarm Hldg 1 (United States, 6.5),
Leeward Renewable Energy (United States, 85.6), Mako Solar (United States, 39.0), Navajo Transitional Energy Co
(United States, 57.5), NRG CA Fund (United States, 71.0), NTE Carolinas (United States, 48.4), RE Roserock
Holdings (United States, 59.7), SBL Holdco (United States, 43.5), sPower Beacon Solar Finco (United States, 48.6),
sPower FinCo 4 (United States, 59.7), sPower FinCo 4 (United States, 45.6), Spruce Manager Holding I (United
States, 37.7), True Green Capital Management (United States, 42.4), Tsuga Pine Wind (United States, 40.3),
Western Interconnect (United States, 18.9), Willow Springs Windfarm Hldg 1 (United States, 8.0)
12 CoBank 1,108.0 2.0 15 Calpine Steamboat Holdings (United States, 124.7), Deepwater Wind Block Island (United States, 57.3), Deerfield
Wind Energy (United States, 65.7), DESRI Portal Ridge Dvlp (United States, 73.7), Green Racer Wind, (United
States, 71.0), Marshall Wind Energy (United States, 35.0), Mehoopany Wind Energy (United States, 67.6), NTE
Carolinas (United States, 48.4), Russell City Energy Center (United States, 123.9), sPower Beacon Solar Finco
(United States, 48.6), sPower FinCo 4 (United States, 59.7), sPower FinCo 4 (United States, 45.6), SR Sunco II
(United States, 50.0), TerraForm IWG Acq Hldg II (United States, 91.1), Vista Ridge (United States, 145.8)
13 ICBC 1,066.3 1.9 9 Atlantic Power (United States, 150.0), Cheniere Energy Partners (United States, 233.3), Clean Energy Future -
Lordstow (United States, 64.9), CPV Towantic (United States, 68.5), Dakota Access (United States, 147.1), Newark
Energy Center (United States, 181.3), SBL Holdco (United States, 43.5), Tenaska Pennsylvania Partners (United

58 Project Finance International January 25 2017

 2016 LEAGUE TABLES

AMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals

States, 86.7), TerraForm IWG Acq Hldg II (United States, 91.1)

14 BNP Paribas 985.2 1.8 11 Central El Campesino (Chile, 141.7), Chapada do Piau II Holding (Brazil, 87.4), Dakota Access (United States, 147.1),
Dunor Energia SAPI de CV (Mexico, 79.4), Elgin Energy Center (United States, 40.0), Fermaca Pipeline de
Occidente (Mexico, 50.0), Fermaca Pipeline La Laguna (Mexico, 69.1), Lackawanna Energy Center (United States,
82.7), Serra Para (Brazil, 50.7), Solar Star Projects (United States, 150.5), Tenaska Pennsylvania Partners (United
States, 86.7)
15 HSBC 944.7 1.7 10 BIF III Holtwood (United States, 65.0), Cheniere Energy Partners (United States, 233.3), Deepwater Wind Block
Island (United States, 57.3), Duoro Seas Shipping Project (Mexico, 105.7), Fluvanna Wind Energy (United States,
37.4), LLOG Bluewater (United States, 169.0), Mariah del Norte (United States, 170.0), North Star (United States,
56.6), Veresen Mid (Canada, 35.4), Veresen Mid (Canada, 15.0)
16 Nord/LB 907.8 1.6 17 Blythe Solar Holdings II (United States, 26.1), Blythe Solar Holdings (United States, 26.2), CD Global Solar II ID
Borrower (United States, 45.6), CPV Towantic (United States, 68.5), Deerfield Wind Energy (United States, 65.7),
Fermaca Pipeline de Occidente (Mexico, 34.2), Fermaca Pipeline La Laguna (Mexico, 69.1), Fluvanna Wind Energy
(United States, 37.4), Heartland Wind I (United States, 37.1), Luning Energy Holdings (United States, 48.2), Net
Mexico Pipeline (United States, 75.5), RE Roserock Holdings (United States, 48.5), RE Shire Holdings (United
States, 30.8), sPower Beacon Solar Finco (United States, 48.6), sPower FinCo 4 (United States, 59.7), sPower
FinCo 4 (United States, 45.6), Sunflower Wind Project (United States, 141.0)
17 BBVA 896.3 1.6 12 Broken Bow Wind (United States, 16.4), Carso Gasoducto Norte de Cv (Mexico, 60.0), Concessionaire Transversal
del (Colombia, 106.5), Crofton Bluffs Wind (United States, 14.1), Dakota Access (United States, 147.1), Dunor
Energia SAPI de CV (Mexico, 79.4), Duoro Seas Shipping Project (Mexico, 105.7), ENAP Sipetrol Argentina
(Argentina, 50.0), Fowler Ridge II Wind Farm (United States, 68.1), Interchile Transmission (Chile, 128.5), Oaxaca I
Wind (Mexico, 33.3), Santiago Occidente Hosp (Chile, 87.3)
18 Rabobank 895.7 1.6 16 Balsam Lake Solar PV (Canada, 19.0), Bethel Wind Farm (United States, 169.2), Deerfield Wind Energy (United
States, 65.7), Desert Sunlight (United States, 30.7), Electra Wind (United States, 105.0), Fluvanna Wind Energy
(United States, 37.4), Invenergy Wind Operating I (United States, 62.5), RE Roserock Holdings (United States,
59.7), SoCore 2016 DG Portfolio (United States, 37.6), sPower Beacon Solar Finco (United States, 48.6), sPower
FinCo 3 (United States, 17.0), sPower FinCo 3 (United States, 25.9), sPower FinCo 4 (United States, 59.7), sPower
FinCo 4 (United States, 45.6), Springbok Land Co (United States, 21.0), TerraForm IWG Acq Hldg II (United States, 91.1)
19 CaixaBank 873.9 1.6 14 Arturo Merino Benitez Intl (Chile, 68.8), Autopista Conexion Pacifico 1 (Colombia, 37.5), Blythe Solar Holdings II
(United States, 26.1), Blythe Solar Holdings (United States, 26.2), Carso Gasoducto Norte de Cv (Mexico, 60.0),
Deepwater Wind Block Island (United States, 57.3), Desarrollos Elicos Mexicanos (Mexico, 87.0), Dunor Energia
SAPI de CV (Mexico, 79.4), Impulsora Pipeline (Mexico, 31.8), Midstream de Mexico (Mexico, 97.1), Net Mexico
Pipeline (United States, 75.5), NR Capital General Partnership (Canada, 104.6), Santiago International Airport
(Chile, 72.8), Vientos de Pastorale (Uruguay, 49.9)
20 Goldman Sachs 868.0 1.6 4 8point3 Energy Partners (United States, 50.0), Atlantic Power (United States, 150.0), Girardot Honda Puerto
Salgar (Colombia, 378.0), TPF Generation Holdings (United States, 290.0)
21 Sociedades Bolivar 856.5 1.5 3 Concessionaire Transversal del (Colombia, 106.5), Conexion Norte Highway (Colombia, 75.0), Santana-Mocoa-
Neiva Highway (Colombia, 675.0)
22 JP Morgan 845.6 1.5 4 8point3 Energy Partners (United States, 50.0), Castleton Commodities Intl (United States, 62.2), Cheniere Energy
Partners (United States, 233.3), Suzano Eligible Green Projects (Brazil, 500.0)
23 Natixis 811.7 1.5 12 CPV Towantic (United States, 68.5), Dakota Access (United States, 147.1), Fermaca Pipeline de Occidente (Mexico,
50.0), Fermaca Pipeline La Laguna (Mexico, 69.1), Fiduciaria Corficolombiana (Colombia, 26.0), Glenfarne Grp
Acq Project (Chile, 27.8), Interchile Transmission (Chile, 128.5), Invenergy Wind N America (United States, 100.0),
Invenergy Wind Operating I (United States, 62.5), Luning Energy Holdings (United States, 52.4), Luning Energy
Holdings (Chile, 30.0), Quintillion Subsea Hldg (United States, 50.0)
24 Scotiabank 762.4 1.4 10 BIF III Holtwood (United States, 65.0), Cheniere Corpus Christi Hldg (United States, 87.5), Concesionaria Vial
Sierra (Peru, 66.7), DP World (Canada, 112.4), Fenix Power Peru (Peru, 182.9), Kruger Energy Chatham (Canada,
96.7), Mountain View Partners GP (Canada, 60.9), PeruRail (Peru, 40.0), Veresen Mid (Canada, 35.4), Veresen
Mid (Canada, 15.0)
25 Bancolombia 750.1 1.3 3 Cesar-La Guajira Highway (Colombia, 0.1), Conexion Norte Highway (Colombia, 75.0), Santana-Mocoa-Neiva
Highway (Colombia, 675.0)
26 DNB ASA 746.5 1.3 10 Blythe Solar Holdings II (United States, 26.1), Blythe Solar Holdings (United States, 26.2), Central El Campesino
(Chile, 141.7), Dakota Access (United States, 147.1), Desert Sunlight (United States, 30.7), DP World (Canada, 112.4),
Emerald State Solar (United States, 90.2), Parque Eolico Cabo Leones (Chile, 46.1), Santiago Solar Project (Chile,
39.5), Tenaska Pennsylvania Partners (United States, 86.7)
27 Intesa Sanpaolo 669.0 1.2 7 Arturo Merino Benitez Intl (Chile, 68.8), Cheniere Energy Partners (United States, 233.3), Dakota Access (United
States, 147.1), Fermaca Pipeline de Occidente (Mexico, 34.2), Fermaca Pipeline La Laguna (Mexico, 69.1),
Millennium Parking Garages (United States, 43.8), Santiago International Airport (Chile, 72.8)
28 CIBC World Markets 598.3 1.1 9 Calumet Concession Partners (United States, 53.1), Kingston CT Privatization (Jamaica, 205.0), Kruger Energy
Chatham (Canada, 75.1), Millennium Parking Garages (United States, 43.8), Net Mexico Pipeline (United States,
75.5), SP Belle River Wind (Canada, 34.2), TerraForm Canada UTL Solar (Canada, 61.2), Veresen Mid (Canada,
35.4), Veresen Mid (Canada, 15.0)

Project Finance International January 25 2017 59

AMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUED
Lead manager Volume (US$m) % No of deals Deals
29 Siemens Financial 594.1 1.1 13 Broken Bow Wind (United States, 16.4), Green Racer Wind, (United States, 71.0), Heartland Wind I (United States,
37.1), Heartland Wind II (United States, 35.3), Millennium Parking Garages (United States, 43.8), Mississippi Solar
2 (United States, 30.6), NextEra Cedar Point II and E (Canada, 60.8), North Star (United States, 56.6), NTE
Carolinas (United States, 48.4), sPower Beacon Solar Finco (United States, 48.6), sPower FinCo 4 (United States,
59.7), sPower FinCo 4 (United States, 45.6), Tsuga Pine Wind (United States, 40.3)
30 Bayerische Landesbank 590.4 1.1 9 Blythe Solar Holdings II (United States, 26.1), Blythe Solar Holdings (United States, 26.2), CD Global Solar II ID
Borrower (United States, 45.6), Dakota Access (United States, 147.1), Deerfield Wind Energy (United States, 65.7),
Desert Sunlight (United States, 30.7), Grey Highlands Clean Energy (Canada, 33.0), Heartland Wind II (United
States, 35.3), Rocksprings Val Verde Wind (United States, 180.7)
31 Investec 587.5 1.1 5 Clean Energy Future - Lordstow (United States, 64.9), EFS Cogen Holdings I (United States, 204.2), RE Shire
Holdings (United States, 30.8), Spruce Manager Hldg I (United States, 37.7), Sunrun Financing (United States, 250.0)
32 CIT Group 571.1 1.0 14 Benson Creek Windfarm Hldg 1 (United States, 6.4), CD Global Solar NC Borrower (United States, 52.3), CPV
Towantic (United States, 68.5), Durbin Creek Prospector (United States, 13.8), Elgin Energy Center (United States,
40.0), FR Comanche Holdings (United States, 64.8), Jett Creek Windfarm Hldg 1 (United States, 6.5), KMC Thermo
(United States, 40.0), RE Roserock Holdings (United States, 48.5), sPower Beacon Solar Finco (United States,
48.6), sPower FinCo 4 (United States, 59.7), sPower FinCo 4 (United States, 45.6), T5@Kings Mountain VII (United
States, 68.5), Willow Springs Windfarm Hldg 1 (United States, 8.0)
33 SunTrust Banks 570.2 1.0 7 Clean Energy Future - Lordstow (United States, 64.9), Cornerstone Natural Gas Co (United States, 109.6), CPV
Towantic (United States, 68.5), Dakota Access (United States, 147.1), SBL Holdco (United States, 43.5), SR Sunco II
(United States, 50.0), Tenaska Pennsylvania Partners (United States, 86.7)
34 Wells Fargo 547.4 1.0 7 Atlantic Power (United States, 150.0), Castleton Commodities Intl (United States, 62.2), Dakota Access (United
States, 147.1), Lackawanna Energy Center (United States, 82.7), SBL Holdco (United States, 43.5), sPower FinCo 4
(United States, 16.2), sPower FinCo 4 (United States, 45.6)
35 US Bancorp 523.0 0.9 1 Madero Reserve de CV SOFOM (Mexico, 523.0)
36 Commonwealth Bank of Australia 517.8 0.9 6 Calumet Concession Partners (United States, 53.1), Castleton Commodities Intl (United States, 62.2), Cornerstone
Natural Gas Co (United States, 109.6), Lackawanna Energy Center (United States, 82.7), Seigneurie de Beaupre II
& III (Canada, 123.5), Tenaska Pennsylvania Partners (United States, 86.7)
37 RBC Capital Markets 517.2 0.9 7 Atlantic Power (United States, 150.0), Calumet Concession Partners (United States, 53.1), Goreway Station
Partnership (Canada, 112.9), Russell City Energy Center (United States, 123.9), Southgate Solar (Canada, 26.8),
Veresen Mid (Canada, 35.4), Veresen Mid (Canada, 15.0)
38 Deutsche Bank 491.6 0.9 4 8point3 Energy Partners (United States, 50.0), Dunor Energia SAPI de CV (Mexico, 79.4), Project North (United
States, 301.0), TerraForm Canada UTL Solar (Canada, 61.2)
39 Credit Suisse 433.3 0.8 2 Cheniere Energy Partners (United States, 233.3), SolarCity (United States, 200.0)
40 ABN AMRO Bank 400.2 0.7 3 Castleton Commodities Intl (United States, 62.2), Cheniere Energy Partners (United States, 233.3), NR Capital
General Partnership (Canada, 104.6)
41 Banco de Sabadell 388.6 0.7 9 Broken Bow Wind (United States, 16.4), Cedar Creek II Wind Facility (United States, 70.9), Crofton Bluffs Wind
(United States, 14.1), Fermaca Pipeline de Occidente (Mexico, 34.2), Fermaca Pipeline La Laguna (Mexico, 69.1),
Fiduciaria Corficolombiana (Colombia, 26.0), Fowler Ridge II Wind Farm (United States, 68.1), North Star (United
States, 56.6), Oaxaca I Wind (Mexico, 33.3)
42 Korea Development Bank 372.5 0.7 6 Autopistas del Nordeste C por (Colombia, 83.3), Fermaca Pipeline de Occidente (Mexico, 32.4), Southgate Solar
(Canada, 26.8), SP Belle River Wind (Canada, 34.2), Total Sunpower El Pelicano (Chile, 49.9), Vista Ridge (United
States, 145.8)
43 Jefferies 360.0 0.6 1 Panda Power Funds (United States, 360.0)
44 TD Securities 336.8 0.6 5 Dakota Access (United States, 147.1), Etobicoke Gen Hosp Phase 1 (Canada, 26.4), Goreway Station Partnership
(Canada, 112.9), Veresen Mid (Canada, 35.4), Veresen Mid (Canada, 15.0)
45 DZ Bank 335.3 0.6 3 Desert Sunlight (United States, 30.7), NR Capital General Partnership (Canada, 104.6), Solar Mosaic Rooftop
(United States, 200.0)
46 Macquarie Group 330.0 0.6 2 Orion Water Partners (United States, 200.0), WG Partners (United States, 130.0)
47 GE Capital 326.9 0.6 3 EFS Cogen Holdings I (United States, 204.2), Elgin Energy Center (United States, 40.0), Lackawanna Energy
Center (United States, 82.7)
48 KfW IPEX-Bank 323.2 0.6 4 Mountain View Partners GP (Canada, 60.9), NR Capital General Partnership (Canada, 104.6), Seigneurie de
Beaupre II & III (Canada, 123.5), SP Belle River Wind (Canada, 34.2)
49 Landesbank Hessen-Thueringen 311.9 0.6 6 Clean Energy Future - Lordstow (United States, 64.9), CPV Towantic (United States, 68.5), Desert Sunlight (United
States, 30.7), Heartland Wind I (United States, 37.1), Heartland Wind II (United States, 35.3), Net Mexico Pipeline
(United States, 75.5)
50 BMO Capital Markets 300.3 0.5 6 BIF III Holtwood (United States, 65.0), Russell City Energy Center (United States, 123.9), Southgate Solar (Canada,
26.8), SP Belle River Wind (Canada, 34.2), Veresen Mid (Canada, 35.4), Veresen Mid (Canada, 15.0)
51 Aresbank 250.0 0.5 1 Riverview Power (United States, 250.0)
52 Banco Estado 240.0 0.4 3 Interchile Transmission (Chile, 128.5), Mejilones-Cardones (Chile, 58.8), Rutas del Desierto Project (Chile, 52.8)
53 National Bank of Canada Finl 234.9 0.4 5 Cote-de-Beaupre Cmnty Wind (Canada, 49.4), South Canoe Wind (Canada, 100.9), SP Belle River Wind (Canada,
34.2), Veresen Mid (Canada, 35.4), Veresen Mid (Canada, 15.0)
54 KfW Bankengruppe 234.2 0.4 3 Fermaca Pipeline de Occidente (Mexico, 50.0), Fermaca Pipeline La Laguna (Mexico, 69.1), Mejilones-Cardones
(Chile, 115.1)

60 Project Finance International January 25 2017

 2016 LEAGUE TABLES

AMERICAS INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals
55 Associated Banc-Corp 222.3 0.4 7 Broken Bow Wind (United States, 16.4), Cedro Hill Windfarm (United States, 56.0), Cedro Hill Windfarm (United
States, 0.1), Cedro Hill Windfarm (United States, 0.7), Crofton Bluffs Wind (United States, 14.1), NTE Carolinas
(United States, 48.4), Tenaska Pennsylvania Partners (United States, 86.7)
56 Banco de Credito e Inversiones 210.9 0.4 3 Arturo Merino Benitez Intl (Chile, 79.3), Mejilones-Cardones (Chile, 58.8), Santiago International Airport (Chile, 72.8)
57 Bicecorp 205.0 0.4 3 Arturo Merino Benitez Intl (Chile, 79.3), Rutas del Desierto Project (Chile, 52.8), Santiago International Airport
(Chile, 72.8)
58 Barclays 204.2 0.4 1 EFS Cogen Holdings I (United States, 204.2)
59 NH Investment & Securities 181.3 0.3 1 Newark Energy Center (United States, 181.3)
60 National Australia Bank 165.4 0.3 3 Calumet Concession Partners (United States, 53.1), CPV Towantic (United States, 68.5), Millennium Parking
Garages (United States, 43.8)
61 Caixa Economica Federal 155.9 0.3 1 MGO Rodovias (Brazil, 155.9)
62 Regions Financial 141.1 0.3 1 NSG Holdings (United States, 141.1)
63 Desjardins 122.1 0.2 2 Mountain View Partners GP (Canada, 60.9), TerraForm Canada UTL Solar (Canada, 61.2)
64 Banco Agrario de Colombia 120.0 0.2 1 Magdalena River Improvement (Colombia, 120.0)
65 Alberta Treasury 111.3 0.2 3 Mountain View Partners GP (Canada, 60.9), Veresen Mid (Canada, 35.4), Veresen Mid (Canada, 15.0)
66 KB Financial Group 109.6 0.2 1 Cornerstone Natural Gas Co (United States, 109.6)
67 Itau Unibanco 107.3 0.2 2 Dona Carmen PV Project (Chile, 20.0), Santiago Occidente Hosp (Chile, 87.3)
68 Landesbank Baden-Wurttemberg 104.6 0.2 1 NR Capital General Partnership (Canada, 104.6)
69 Commerzbank 100.3 0.2 4 Cedro Hill Windfarm (United States, 56.0), Cedro Hill Windfarm (United States, 0.1), Cedro Hill Windfarm (United
States, 0.7), SBL Holdco (United States, 43.5)
70 Grupo Financiero Banorte-Ixe 94.5 0.2 2 Conipsa (Mexico, 7.5), Desarrollos Elicos Mexicanos (Mexico, 87.0)
71 Hana Financial 82.7 0.2 1 Lackawanna Energy Center (United States, 82.7)
72 Bankia 79.4 0.1 1 Dunor Energia SAPI de CV (Mexico, 79.4)
73 Silicon Valley Bank 76.7 0.1 2 Mako Solar (United States, 39.0), Spruce Manager Holding I (United States, 37.7)
74 Banco del Desarrollo 75.0 0.1 1 Conexion Norte Highway (Colombia, 75.0)
75 PNC Financial Services 73.5 0.1 2 FuelCell Energy Power Plant (United States, 30.0), SBL Holdco (United States, 43.5)
=76 Capital One Financial 62.2 0.1 1 Castleton Commodities Intl (United States, 62.2)
=76 Piper Jaffray 62.2 0.1 1 Castleton Commodities Intl (United States, 62.2)
78 Banco de Chile 58.7 0.1 1 Mejilones-Cardones (Chile, 58.7)
79 Banco Consorcio 52.8 0.1 1 Rutas del Desierto Project (Chile, 52.8)
80 Nordea 52.3 0.1 1 CD Global Solar NC Borrower (United States, 52.3)
81 Bank of New York Mellon 50.0 0.1 1 ENAP Sipetrol Argentina (Argentina, 50.0)
82 Korea Exchange Bank 43.5 0.1 1 SBL Holdco (United States, 43.5)
83 Sumitomo Mitsui Trust 34.2 0.1 1 SP Belle River Wind (Canada, 34.2)
84 Western Alliance Bancorp 30.8 0.1 1 RE Shire Holdings (United States, 30.8)
85 Manufacturers & Traders Trust 30.6 0.1 1 Mississippi Solar 2 (United States, 30.6)
86 DEG bank 30.0 0.1 1 Kingston CT Privatization (Jamaica, 30.0)
Total* 55,901.8 100.0 214

*Proportional Credit

Source: Thomson Reuters

AMERICAS LOANS BY SECTOR AMERICAS LOANS BY COUNTRY

Sector Volume (US$m) Nation US$m % No of deals
Power 32,882.5 United States of America 33,843.4 60.5 121
Oil & gas 11,885.5 Canada 4,872.4 8.7 30
Transportation 7,861.4 Chile 4,398.3 7.9 15
Water & sewerage 1,159.8 Mexico 4,089.2 7.3 16
Leisure & property 1,119.7 Colombia 2,985.8 5.3 11
Industry 500.0 Argentina 2,424.0 4.3 3
Petrochemicals 378.0 Brazil 1,282.0 2.3 5
Mining 115.0 Peru 857.7 1.5 4
Total 55,901.8 Panama 270.0 0.5 1
Jamaica 265.0 0.5 1
Uruguay 260.0 0.5 4
Costa Rica 149.5 0.3 1
El Salvador 117.7 0.2 1
Guatemala 87.0 0.2 1
Total 55,901.8 214

Project Finance International January 25 2017 61

ASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS
Lead manager Volume (US$m) % No of deals Deals
1 State Bank of India
2 Mitsubishi UFJ
3 Mizuho Financial
4 SMBC
5 Commonwealth Bank of
Australia
6 National Australia Bank
7 Westpac Banking
8 ANZ
9 Credit Agricole
10 China Development Bank
11 Korea Development Bank
12 Development Bank of
Japan
13 Bank of China
62
5,016.4 8.8 11 Gangavaram Port Ltd (India, 186.7), HPCL Mittal Energy Ltd (India, 704.0), Indian Oil Adani Gas Pte Ltd (India, 74.8),
Jharkhand Infrastructure (India, 72.0), KSK Mahanadi Power Co Ltd (India, 843.1), Meenakshi Energy Pvt Ltd (India,
501.9), NRSS XXIX Transmission Ltd (India, 335.0), Ramagundam Fertilizers and Che (India, 591.7), Sandla Wind
Project Pvt Ltd (India, 44.2), Sasan Power Ltd (India, 1,653.1), Tantia Raxaultollway Pvt Ltd (India, 9.7)
4,005.6 7.0 30 Aichi Road Concession (Japan, 182.8), AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia,
511.9), Banpong Utilities Co Ltd (Thailand, 58.3), Cameron LNG Vessel [MHI] (Japan, 192.0), Cameron LNG Vessel [SHI]
(Japan, 192.0), Canberra Metro Finance Pty Ltd (Australia, 78.3), Ethane Crystal LLC (India, 47.7), Fukushima Power
Project (Japan, 698.0), GK Green Power Otsuki (Japan, 15.0), GoldLinQ Securitisation Pty (Australia, 78.8), GS Coal
Pty Ltd (Australia, 31.1), GWI Acquisitions Pty Ltd (Australia, 60.9), Kalsel 1 Coal-Fired Plant (Indonesia, 81.8), Kansai
Airports (Japan, 333.2), Kobelco Power Moka Inc (Japan, 193.7), LCT-MRE Nominees Pty Ltd (Australia, 39.7), Lonsdale
Finance Pty Ltd (Australia, 182.1), Mirai Soden Samuraihama GK (Japan, 39.5), Mount Emerald Wind Farm (Australia,
53.2), Plenary Health Finance Co Pty (Australia, 60.7), Plenary Living[LEAP 2]Pty Ltd (Australia, 90.5), PT Bhimasena
Power Indonesia (Indonesia, 195.6), QAL Finance Pty Ltd (Australia, 115.7), QS MAPS Holdings No 4 Pty Ltd (Australia,
31.1), Sentinel Financing Pty Ltd (Australia, 90.5), Shunan Bulk Terminal (Japan, 35.4), SK E&S LNG Vessels (South
Korea, 76.0), Trans Thai-Malaysia [Malaysia] (Thailand, 65.0), TuasOne Pte Ltd (Singapore, 119.3)
3,883.1 6.8 25 Akita Katagami Wind Farm LLC (Japan, 67.9), AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd
(Australia, 511.9), Banpong Utilities Co Ltd (Thailand, 58.3), Eurus Otoyo Wind Farm Corp (Japan, 60.7), Evolution Rail
Finance Pty Ltd (Australia, 129.2), Fukushima Power Project (Japan, 698.0), GoldLinQ Securitisation Pty (Australia,
78.8), Gpd Sakura Solar Corporation (Japan, 111.5), High Speed Marine Transport (Japan, 84.0), Hiroshima Saintpine
GC Mega (Japan, 54.3), IC Card Sogo Riyo Center (Japan, 3.3), Kalsel 1 Coal-Fired Plant (Indonesia, 81.8), Kansai
Airports (Japan, 333.2), Karumai East Solar Llc (Japan, 100.4), Kobelco Power Moka Inc (Japan, 290.6), PT Bhimasena
Power Indonesia (Indonesia, 195.6), QS MAPS Holdings No 4 Pty Ltd (Australia, 31.1), Sendai Okura GD Daiichi Godo
(Japan, 115.7), Solar Power Minamisoma (Japan, 168.7), Solar Power Minamisoma-Haramac (Japan, 92.4), Tokachi
Solar Power Plant (Japan, 73.8), Tomoe Science Partners Co Ltd (Japan, 311.1), TuasOne Pte Ltd (Singapore, 119.3),
Yokohama Bay Link Corp (Japan, 55.6)
3,849.9 6.7 33 Aizu Solar Energy GK (Japan, 85.6), AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia,
511.9), Banpong Utilities Co Ltd (Thailand, 58.3), Binsar Natorang Energi (Indonesia, 46.7), Clare Solar Farm Fin Pty
Ltd (Australia, 66.8), Clean Energy Asia LLC (Mongolia, 90.0), Ethane Crystal LLC (India, 47.7), Eurus Higashiyurihara
Wind (Japan, 103.9), Fukushima Power Project (Japan, 698.0), GK Green Power Otsuki (Japan, 15.0), GS Coal Pty
Ltd (Australia, 31.1), GWI Acquisitions Pty Ltd (Australia, 60.9), Hiraizumi Solar Energy Godo (Japan, 31.8), Ise Total
Nanao Power Plant GK (Japan, 79.8), Kalsel 1 Coal-Fired Plant (Indonesia, 81.8), Kansai Airports (Japan, 333.2),
Karumai East Solar Llc (Japan, 100.4), Kobelco Power Moka Inc (Japan, 193.7), Lonsdale Finance Pty Ltd (Australia,
182.1), Mirai Soden Takahagi GK (Japan, 84.3), Musselroe Wind Farm Pty Ltd (Australia, 20.5), OR Solar Three (Japan,
44.9), Patrick Terminals Bidco Pty (Australia, 112.7), PHIA FinCo Pty Ltd (Australia, 37.0), PT Bhimasena Power
Indonesia (Indonesia, 195.6), Sapphire Wind Farm (Australia, 22.7), SK E&S LNG Vessels (South Korea, 76.0), Tempoku
Energy (Japan, 80.3), TQ APL Finance Co Pty Ltd (Australia, 145.7), Trans Thai-Malaysia [Malaysia] (Thailand, 65.0),
Transurban Queensland Fin Pty (Australia, 66.1), Woolnorth Wind Farm (Australia, 24.6)
2,485.3 4.3 20 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 511.9), Australian Gas Networks Ltd
(Australia, 36.9), C&G Health Infrastructure Tr (Australia, 138.0), Canberra Metro Finance Pty Ltd (Australia, 101.8),
First Gas Holdings Ltd (New Zealand, 191.9), GS Coal Pty Ltd (Australia, 31.1), GWI Acquisitions Pty Ltd (Australia,
60.9), Lonsdale Finance Pty Ltd (Australia, 204.9), Macarthur Water Pty Ltd (Australia, 57.0), Northern Territory
Airports (Australia, 62.7), Patrick Terminals Bidco Pty (Australia, 112.7), Plenary Living[LEAP 2]Pty Ltd (Australia,
90.5), QAL Finance Pty Ltd (Australia, 115.7), QS MAPS Holdings No 4 Pty Ltd (Australia, 32.6), Sapphire Wind Farm
(Australia, 59.9), Sentinel Financing Pty Ltd (Australia, 90.5), TQ APL Finance Co Pty Ltd (Australia, 161.0), Transurban
Queensland Fin Pty (Australia, 84.2), WCX M5 FinCo Pty Ltd (Australia, 285.0)
2,163.5 3.8 20 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 511.9), Clare Solar Farm Fin Pty Ltd
(Australia, 66.8), First Gas Holdings Ltd (New Zealand, 191.9), GS Coal Pty Ltd (Australia, 31.1), GWI Acquisitions
Pty Ltd (Australia, 60.9), Lonsdale Finance Pty Ltd (Australia, 182.1), Mount Emerald Wind Farm (Australia, 53.2),
Musselroe Wind Farm Pty Ltd (Australia, 20.5), Northern Territory Airports (Australia, 62.7), Patrick Terminals Bidco
Pty (Australia, 112.7), PHIA FinCo Pty Ltd (Australia, 37.0), Plenary Health Finance Co Pty (Australia, 60.7), Plenary
Living[LEAP 2]Pty Ltd (Australia, 90.5), QAL Finance Pty Ltd (Australia, 115.7), Sentinel Financing Pty Ltd (Australia,
90.5), Transurban Queensland Fin Pty (Australia, 66.1), WCX M5 FinCo Pty Ltd (Australia, 285.0), White Rock Wind
Farm Pty Ltd (Australia, 43.8), Woolnorth Wind Farm (Australia, 24.6)
2,010.4 3.5 14 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 511.9), Evolution Rail Finance Pty Ltd
(Australia, 129.2), First Gas Holdings Ltd (New Zealand, 191.9), LCT-MRE Nominees Pty Ltd (Australia, 39.7), Lonsdale
Finance Pty Ltd (Australia, 182.1), Northern Territory Airports (Australia, 62.7), NX2 LP (New Zealand, 120.1), Plenary
Health Finance Co Pty (Australia, 60.7), QAL Finance Pty Ltd (Australia, 115.7), TQ APL Finance Co Pty Ltd (Australia,
145.7), Transurban Queensland Fin Pty (Australia, 66.1), WCX M5 FinCo Pty Ltd (Australia, 285.0), White Rock Wind
Farm Pty Ltd (Australia, 43.8)
1,941.7 3.4 15 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 604.5), Canberra Metro Finance Pty
Ltd (Australia, 78.3), Ethane Crystal LLC (India, 47.7), First Gas Holdings Ltd (New Zealand, 205.9), GS Coal Pty Ltd
(Australia, 31.1), GWI Acquisitions Pty Ltd (Australia, 60.9), Lonsdale Finance Pty Ltd (Australia, 182.1), Mount Emerald
Wind Farm (Australia, 53.2), Northern Territory Airports (Australia, 62.7), NX2 LP (New Zealand, 120.1), Patrick
Terminals Bidco Pty (Australia, 112.7), Plenary Living[LEAP 2]Pty Ltd (Australia, 90.5), Sentinel Financing Pty Ltd
(Australia, 90.5), TQ APL Finance Co Pty Ltd (Australia, 145.7)
1,481.9 2.6 9 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 511.9), Ethane Crystal LLC (India,
47.7), GS Coal Pty Ltd (Australia, 31.1), Kansai Airports (Japan, 333.2), Plenary Health Finance Co Pty (Australia, 60.7),
Plenary Living[LEAP 2]Pty Ltd (Australia, 90.5), Transurban Queensland Fin Pty (Australia, 66.1), WCX M5 FinCo Pty
Ltd (Australia, 285.0)
1,362.8 2.4 2 PT Shenhua Guohua (Indonesia, 1,319.0), White Rock Wind Farm Pty Ltd (Australia, 43.8)
1,289.8 2.3 9 Binsar Natorang Energi (Indonesia, 54.0), Bitplex Co Ltd (South Korea, 55.8), Chitose Solar Power LLC (Japan, 93.8),
Green Air Co Ltd (South Korea, 158.5), GS Yeongyang Windpower Co Ltd (South Korea, 20.3), Kalsel 1 Coal-Fired Plant
(Indonesia, 102.9), Seoul Univ Med Hub Co Ltd (South Korea, 73.4), Shinbundang Railroad Ltd (South Korea, 655.2),
SK E&S LNG Vessels (South Korea, 76.0)
1,243.6 2.2 5 Fujimi Solar Energy LLC (Japan, 2.9), Fukushima Power Project (Japan, 698.0), Kansai Airports (Japan, 333.2), OR
Solar Eight LLC (Japan, 141.2), OR Solar Twelve LLC (Japan, 68.4)
1,214.5 2.1 9 Ausgrid Finance Pty Ltd (Australia, 339.0), Evolution Rail Finance Pty Ltd (Australia, 129.2), Lonsdale Finance Pty
Ltd (Australia, 182.1), Musselroe Wind Farm Pty Ltd (Australia, 20.5), Patrick Terminals Bidco Pty (Australia, 112.7),
Universal Terminal [S] Pte Ltd (Singapore, 218.3), Victoria Intl Container (Australia, 49.7), Well Harvest Winning
Alumina (Indonesia, 138.3), Woolnorth Wind Farm (Australia, 24.6)
Project Finance International January 25 2017
 2016 LEAGUE TABLES

ASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals

14 DBS 1,211.7 2.1 11 Ethane Crystal LLC (India, 47.7), Kalsel 1 Coal-Fired Plant (Indonesia, 81.8), Lonsdale Finance Pty Ltd (Australia, 182.1),
Patrick Terminals Bidco Pty (Australia, 112.7), PT Bhimasena Power Indonesia (Indonesia, 195.6), Star Energy Kakap
PSC (Indonesia, 22.0), TuasOne Pte Ltd (Singapore, 119.3), Universal Terminal [S] Pte Ltd (Singapore, 218.3), Victoria
Intl Container (Australia, 49.7), Well Harvest Winning Alumina (Indonesia, 138.3), Yunnan Zhongda Yanjin Power
(China, 44.3)
15 HSBC 1,161.4 2.0 9 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 511.9), Canberra Metro Finance Pty
Ltd (Australia, 78.3), Ethane Crystal LLC (India, 47.7), Evolution Rail Finance Pty Ltd (Australia, 129.2), PT Bumi
Suksesindo (Indonesia, 43.3), Trans Thai-Malaysia [Malaysia] (Thailand, 65.0), Trans Thai-Malaysia [Malaysia]
(Thailand, 12.0), Universal Terminal [S] Pte Ltd (Singapore, 218.3)
16 Societe Generale 1,118.2 2.0 11 Ausgrid Finance Pty Ltd (Australia, 511.9), Binsar Natorang Energi (Indonesia, 46.7), Canberra Metro Finance Pty
Ltd (Australia, 78.3), Ethane Crystal LLC (India, 47.7), GS Coal Pty Ltd (Australia, 31.1), HWF 2 Pty Ltd (Australia,
63.6), Lonsdale Finance Pty Ltd (Australia, 182.1), Mount Emerald Wind Farm (Australia, 53.2), PT Bumi Suksesindo
(Indonesia, 43.3), Royalla Hldg Australia Pty Ltd (Australia, 38.8), Sanchuan Energy Co Ltd (China, 21.5)
17 Bank of Philippine 1,082.0 1.9 3 Angat Hydropower Corp (Philippines, 253.4), Redondo Peninsula Energy (Philippines, 632.6), SN Aboitiz Power-
Islands Magat Inc (Philippines, 196.0)
18 BNP Paribas 1,066.2 1.9 10 Ausgrid Finance Pty Ltd (Australia, 511.9), Ethane Crystal LLC (India, 47.7), Formosa I Wind Power Co Ltd (Taiwan,
25.6), GS Coal Pty Ltd (Australia, 31.1), GWI Acquisitions Pty Ltd (Australia, 60.9), Lonsdale Finance Pty Ltd (Australia,
182.1), PT Bumi Suksesindo (Indonesia, 43.3), Sanchuan Energy Co Ltd (China, 21.5), SK E&S LNG Vessels (South
Korea, 76.0), Transurban Queensland Fin Pty (Australia, 66.1)
19 Scotiabank 984.1 1.7 5 Ausgrid Finance Pty Ltd (Australia, 511.9), Canberra Metro Finance Pty Ltd (Australia, 78.3), Lonsdale Finance Pty Ltd
(Australia, 182.1), TQ APL Finance Co Pty Ltd (Australia, 145.7), Transurban Queensland Fin Pty (Australia, 66.1)
20 Shinsei Bank 953.6 1.7 13 Atsuma Mega Solar Power (Japan, 38.7), Hayato Kirishima Mega Solar (Japan, 55.1), Ichinoseki Mega Solar Power
(Japan, 72.8), Inashiki Mega Solar Power (Japan, 50.2), Karumai East Solar Llc (Japan, 22.3), Kirishima Mega Solar
Power (Japan, 117.4), Mukaihama Biomass Plant (Japan, 2.0), Nippon Solar Services GK (Japan, 101.0), PT Bhimasena
Power Indonesia (Indonesia, 195.6), Suwa Mega Solar Power (Japan, 149.4), Takahagi Mega Solar Power (Japan, 66.6),
Takizawa Mega Solar Power (Japan, 21.6), X-Elio 10 Godo Gaisha (Japan, 61.0)
21 Bank of America Merrill 944.7 1.7 6 Ausgrid Finance Pty Ltd (Australia, 511.9), Ethane Crystal LLC (India, 47.7), GWI Acquisitions Pty Ltd (Australia, 60.9),
Lynch Lonsdale Finance Pty Ltd (Australia, 182.1), SK E&S LNG Vessels (South Korea, 76.0), Transurban Queensland Fin Pty
(Australia, 66.1)
22 ING 943.9 1.7 7 Ausgrid Finance Pty Ltd (Australia, 511.9), GS Coal Pty Ltd (Australia, 31.1), LCT-MRE Nominees Pty Ltd (Australia,
39.7), Lonsdale Finance Pty Ltd (Australia, 182.1), Nagi PV GK (Japan, 38.5), Oita Solar GK (Japan, 117.7), PV Keez Pte
Ltd (Vietnam, 23.0)
23 Natixis 868.2 1.5 5 Ausgrid Finance Pty Ltd (Australia, 511.9), Lonsdale Finance Pty Ltd (Australia, 182.1), Plenary Health Finance Co Pty
(Australia, 60.7), Plenary Living[LEAP 2]Pty Ltd (Australia, 90.5), PV Keez Pte Ltd (Vietnam, 23.0)
24 ICICI 772.0 1.4 6 Clean Solar Power [Dhar] Pvt (India, 21.1), Clean Wind Power [Ratlam] Pvt (India, 157.9), Haldia Energy Ltd (India,
422.2), KEC Bikaner Sikar (India, 27.0), PTC Energy Ltd (India, 82.3), Rajkot Gujarat Solar Energy (India, 61.4)
25 ICBC 765.8 1.3 5 AquaSure Finance Pty Ltd (Australia, 55.8), Ausgrid Finance Pty Ltd (Australia, 339.0), Evolution Rail Finance Pty Ltd
(Australia, 129.2), Lonsdale Finance Pty Ltd (Australia, 182.1), SDIC Hami Power Co Ltd (China, 59.6)
26 Axis Bank 706.9 1.2 10 Bhoruka Power Corp Ltd (India, 37.8), Coastal Gujarat Power Ltd (India, 143.0), Energon Power Resources Pvt (India,
40.8), JSW Jaigarh Port Ltd (India, 257.7), Mahabubnagar Solar Pks Pvt Ltd (India, 8.3), Nrthn Solaire Prakash Pvt Ltd
(India, 19.5), Ostro Madhya Wind Pvt Ltd (India, 72.5), Suryauday Solaire Prakash Pvt (India, 10.3), Tadas Wind Energy
Pvt Ltd (India, 33.2), Vyshali Energy Pvt Ltd (India, 83.8)
27 Bank of Communications 650.3 1.1 3 Ausgrid Finance Pty Ltd (Australia, 339.0), Evolution Rail Finance Pty Ltd (Australia, 129.2), Lonsdale Finance Pty Ltd
(Australia, 182.1)
28 Rizal Commercial 584.0 1.0 2 GNPower Dinginin Ltd Co (Philippines, 415.6), Light Rail Manila Corp (Philippines, 168.4)
Banking
29 UOB 528.3 .9 4 Evolution Rail Finance Pty Ltd (Australia, 129.2), NX2 LP (New Zealand, 120.1), Plenary Health Finance Co Pty
(Australia, 60.7), Universal Terminal [S] Pte Ltd (Singapore, 218.3)
30 Norinchukin Bank 521.1 .9 2 Ausgrid Finance Pty Ltd (Australia, 339.0), Lonsdale Finance Pty Ltd (Australia, 182.1)
31 Yes Bank 471.9 .8 7 Atria Wind Power (India, 28.7), Axis Wind Farms [MPR DAM] Pvt (India, 97.7), Brightsolar Renewable Energy (India,
9.6), Cleansolar Renewable Energy (India, 31.6), Globus Steel & Power Pte Ltd (India, 18.5), Hindupur Solar Parks Pvt
Ltd (India, 62.5), Kundli Manesar Expressway Ltd (India, 223.3)
32 China Construction Bank 461.8 .8 4 Lonsdale Finance Pty Ltd (Australia, 182.1), NX2 LP (New Zealand, 120.1), QAL Finance Pty Ltd (Australia, 115.7), White
Rock Wind Farm Pty Ltd (Australia, 43.8)
33 IDFC 428.6 .8 7 Andhra Expressway Ltd (India, 4.2), Gorakhpur Infrastructure Co (India, 21.5), Green Infra (India, 121.6), Kosi Bridge
Infrastructure Co (India, 14.8), Mukarba Chowk Panipat Toll (India, 237.2), Mumbai Nasik Expressway Ltd (India, 24.9),
Rajahmundry Expressway Ltd (India, 4.4)
34 Banco De Oro 415.6 .7 1 GNPower Dinginin Ltd Co (Philippines, 415.6)
35 CIBC World Markets 381.7 .7 5 LCT-MRE Nominees Pty Ltd (Australia, 39.7), Lonsdale Finance Pty Ltd (Australia, 182.1), Northern Territory Airports
(Australia, 62.7), QS MAPS Holdings No 4 Pty Ltd (Australia, 31.1), Transurban Queensland Fin Pty (Australia, 66.1)
=36 Bank Mandiri 373.6 .7 4 PT Ngawi Kertosono Jaya (Indonesia, 85.4), PT Prima Multi Terminal (Indonesia, 54.8), PT Solo Ngawi Jaya (Indonesia,
110.7), PT Trans Marga Jateng (Indonesia, 122.7)
=36 Bank Negara Indonesia 373.6 .7 4 PT Ngawi Kertosono Jaya (Indonesia, 85.4), PT Prima Multi Terminal (Indonesia, 54.8), PT Solo Ngawi Jaya (Indonesia,
110.7), PT Trans Marga Jateng (Indonesia, 122.7)
=36 Bank Rakyat Indonesia 373.6 .7 4 PT Ngawi Kertosono Jaya (Indonesia, 85.4), PT Prima Multi Terminal (Indonesia, 54.8), PT Solo Ngawi Jaya (Indonesia,
110.7), PT Trans Marga Jateng (Indonesia, 122.7)
39 OCBC 365.0 .6 3 GS Coal Pty Ltd (Australia, 31.1), PT Bhimasena Power Indonesia (Indonesia, 195.6), Well Harvest Winning Alumina
(Indonesia, 138.3)
40 Agricultural Bank of 339.0 .6 1 Ausgrid Finance Pty Ltd (Australia, 339.0)
China
41 Standard Chartered 315.6 .6 3 Ethane Crystal LLC (India, 47.7), Universal Terminal [S] Pte Ltd (Singapore, 218.3), Victoria Intl Container (Australia,
49.7)
42 Indusind-Bank-Ltd 281.6 .5 6 Hetero Wind Power [Pennar] (India, 28.3), Kiran Renewable Energy Pvt Ltd (India, 5.3), Maheshwaram Transmission
Ltd (India, 47.5), PTC Energy Ltd (India, 48.6), Renew Akshay Urja Pvt Ltd (India, 104.3), Welspun Renewables Energy
Pvt (India, 47.7)
43 Citi 271.0 .5 4 Ethane Crystal LLC (India, 47.7), GWI Acquisitions Pty Ltd (Australia, 60.9), Patrick Terminals Bidco Pty (Australia,
112.7), Victoria Intl Container (Australia, 49.7)

Project Finance International January 25 2017 63

ASIA PACIFIC INITIAL MANDATED LEAD ARRANGERS CONTINUED
Lead manager Volume (US$m) % No of deals Deals

44 Sumitomo Mitsui Trust 266.4 .5 3 AquaSure Finance Pty Ltd (Australia, 55.8), GK Green Power Otsuki (Japan, 15.0), PT Bhimasena Power Indonesia
(Indonesia, 195.6)
45 China Petroleum Finance 218.3 .4 1 Universal Terminal [S] Pte Ltd (Singapore, 218.3)
46 Intesa Sanpaolo 208.0 .4 2 Evolution Rail Finance Pty Ltd (Australia, 129.2), GoldLinQ Securitisation Pty (Australia, 78.8)
47 China Banking Corp 196.0 .3 1 SN Aboitiz Power-Magat Inc (Philippines, 196.0)
48 KfW IPEX-Bank 192.1 .3 3 GoldLinQ Securitisation Pty (Australia, 78.8), HWF 2 Pty Ltd (Australia, 63.6), Victoria Intl Container (Australia, 49.7)
=49 Metropolitan Bank & 168.4 .3 1 Light Rail Manila Corp (Philippines, 168.4)
Trust
=49 Security Bank 168.4 .3 1 Light Rail Manila Corp (Philippines, 168.4)
51 IDBI Bank 164.4 .3 1 Khed Sinnar Expressway Ltd (India, 164.4)
52 DZ Bank 120.1 .2 1 NX2 LP (New Zealand, 120.1)
53 Malayan Banking 119.3 .2 1 TuasOne Pte Ltd (Singapore, 119.3)
54 RBC Capital Markets 115.7 .2 1 QAL Finance Pty Ltd (Australia, 115.7)
55 JP Morgan 108.6 .2 2 Ethane Crystal LLC (India, 47.7), GWI Acquisitions Pty Ltd (Australia, 60.9)
56 Deutsche Bank 102.4 .2 1 GASJA 4 GK (Japan, 102.4)
57 KfW Bankengruppe 90.5 .2 1 Sentinel Financing Pty Ltd (Australia, 90.5)
58 Mega Financial 88.9 .2 3 Musselroe Wind Farm Pty Ltd (Australia, 20.5), White Rock Wind Farm Pty Ltd (Australia, 43.8), Woolnorth Wind Farm
(Australia, 24.6)
59 Clean Energy Finance 88.6 .2 1 Sapphire Wind Farm (Australia, 88.6)
60 BBVA 78.8 .1 1 GoldLinQ Securitisation Pty (Australia, 78.8)
61 Credit Mutuel 76.3 .1 2 AquaSure Finance Pty Ltd (Australia, 55.8), Musselroe Wind Farm Pty Ltd (Australia, 20.5)
62 Shinhan Financial 73.4 .1 1 Seoul Univ Med Hub Co Ltd (South Korea, 73.4)
63 Kasikornbank 72.9 .1 2 B Grimm Solar Power [Sakaeo] (Thailand, 14.7), Banpong Utilities Co Ltd (Thailand, 58.3)
64 Hokuto Bank 69.9 .1 2 Akita Katagami Wind Farm LLC (Japan, 67.9), Mukaihama Biomass Plant (Japan, 2.0)
=65 HDFC Bank 69.8 .1 5 Andhra Expressway Ltd (India, 4.2), Gorakhpur Infrastructure Co (India, 21.5), Kosi Bridge Infrastructure Co (India,
14.8), Mumbai Nasik Expressway Ltd (India, 24.9), Rajahmundry Expressway Ltd (India, 4.4)
=65 Kotak Mahindra Bank 69.8 .1 5 Andhra Expressway Ltd (India, 4.2), Gorakhpur Infrastructure Co (India, 21.5), Kosi Bridge Infrastructure Co (India,
14.8), Mumbai Nasik Expressway Ltd (India, 24.9), Rajahmundry Expressway Ltd (India, 4.4)
67 Siemens Financial 60.7 .1 1 Plenary Health Finance Co Pty (Australia, 60.7)
Services
68 TMB Bank 58.3 .1 1 Banpong Utilities Co Ltd (Thailand, 58.3)
69 Aozora Bank 55.3 .1 1 SGET Kamisu Mega Solar Godo (Japan, 55.3)
70 Investec 49.7 .1 1 Victoria Intl Container (Australia, 49.7)
71 Nord/LB 32.9 .1 2 Lakeland Solar & Storage Pty (Australia, 9.9), PV Keez Pte Ltd (Vietnam, 23.0)
72 First Financial 31.1 .1 1 QS MAPS Holdings No 4 Pty Ltd (Australia, 31.1)
73 Bank of India 29.9 .1 1 Welspun Renewables Energy Pvt (India, 29.9)
=74 Cathay United Bank 25.6 0.0 1 Formosa I Wind Power Co Ltd (Taiwan, 25.6)
=74 Entie Commercial Bank 25.6 0.0 1 Formosa I Wind Power Co Ltd (Taiwan, 25.6)
=76 NIBC 23.0 0.0 1 PV Keez Pte Ltd (Vietnam, 23.0)
=76 CTBC Financial Holding 23.0 0.0 1 PV Keez Pte Ltd (Vietnam, 23.0)
78 Tokyo Star Bank 10.3 0.0 2 Karatsushi Minato Furyoku (Japan, 4.6), Karatsushi Ohka Furyoku (Japan, 5.7)
Total* 57,241.5 100.0 169

*Proportional Credit

Source: Thomson Reuters

64 Project Finance International January 25 2017


ASIA PACIFIC LOANS BY SECTOR
Sector Volume (US$m)
Power 31,046.5
Transportation 17,046.6
Oil & Gas 4,040.2
Leisure & Property 2,016.3
Industry 1,006.7
Petrochemicals 862.5
Water & Sewerage 726.6
Mining 440.5
Waste & Recycling 55.6
Total 57,241.5
Project Finance International January 25 2017
2016 LEAGUE TABLES
ASIA PACIFIC AND JAPAN LOANS BY COUNTRY
Nation US$m % No of deals
Australia 24,319.0 42.5 33
Japan 9,191.5 16.1 50
India 8,583.8 15.0 50
Indonesia 7,005.5 12.2 11
Philippines 2,614.4 4.6 5
Singapore 1,786.6 3.1 2
South Korea 1,416.5 2.5 6
New Zealand 1,382.3 2.4 2
Thailand 513.2 .9 4
China 146.9 .3 3
Vietnam 115.0 .2 1
Mongolia 90.0 .2 1
Taiwan 76.9 .1 1
Total 57,241.5 165
65
EMEA INITIAL MANDATED LEAD ARRANGERS
Lead manager Volume (US$m) % No of deals Deals

1 China Development Bank 11,839.9 9.6 1 Yamal SPG (Russian Fed, 11,839.9)
2 Mitsubishi UFJ 5,046.4 4.1 50 A6 Hollandse brug en Almere (Netherlands, 33.8), Affinity Flying Training Svcs (United Kingdom, 97.1), Al Wathba Al
Allahamah (Utd Arab Em, 57.5), Alpha Trains Emil Sarl (Germany, 63.4), Amsterdam Courthouse (Netherlands, 136.8),
Assel Valley Wind Farm (United Kingdom, 26.0), Barka Independent Water (Oman, 68.4), Beatrice Offshore Windfarm
(United Kingdom, 162.2), Borealis Swedish Electricity (Sweden, 243.1), Brussels Airport Co (Belgium, 58.8), Cambrian
Wind Energy (United Kingdom, 68.6), Dhuruma Electricity Co (Saudi Arabia, 131.9), Dudgeon Offshore Wind (United
Kingdom, 213.2), Eeco Energy Efficiency Project (France, 39.8), Facility D IWPP (Qatar, 513.0), Falck Renewables Two Wind
(United Kingdom, 56.0), Fifth Bundle of Schools (Ireland-Rep, 53.8), Firebolt RB Holdings (United Kingdom, 127.1), Fixed
Wing Training [MFTS] (United Kingdom, 49.6), Greenwich BSF (United Kingdom, 108.1), Ibri Mega Gas Fired (Oman, 73.7),
Ital Gas Storage (Italy, 112.3), JLEAG Wind Limited (United Kingdom, 113.8), Kemsley Combined Heat and (United Kingdom,
88.8), Kilpilahti Power Plant (Finland, 31.9), Kirklees Social Housing PFI (United Kingdom, 50.7), LDV Harburnhead Limited
(United Kingdom, 59.4), Liwa Plastics Plant (Oman, 119.7), London City Airport (United Kingdom, 107.4), Lundin Petroleum
AB (Norway, 215.0), Magnetar Solar Portfolio (United Kingdom, 65.7), Manchester Airport Group (United Kingdom, 99.8),
N18 Motorway (Netherlands, 45.0), Nice Cote d Azur (France, 142.7), North Wales Waste (United Kingdom, 55.6), Norther
Offshore Wind Farm (Belgium, 65.1), Rabigh Independent Power (Saudi Arabia, 80.0), SAAone (Netherlands, 104.8), SGI
Gas Network (Italy, 63.1), Sheffield Road Maintenance PFI (United Kingdom, 51.7), Sohar Mega Gas Fired (Oman, 67.3),
Sonnedix six solar Pks of 57 (France, 104.1), TanQuid Zweite (Germany, 57.0), Tengizchevroil (Kazakhstan, 250.0),
Thermasol Extremadura Solar (Spain, 45.1), Velocita Energy Developments (United Kingdom, 110.4), Velocita Energy
Developments (United Kingdom, 75.8), Vitol Offshore Cape Three (Ghana, 84.5), W Browncastle Wind Energy (United
Kingdom, 57.3), Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
3 SMBC 4,124.9 3.4 35 A27/A1 Motorway (Netherlands, 73.0), Abellio GmbH (Germany, 71.2), Affinity Flying Training Svcs (United Kingdom, 97.1),
Al Wathba Al Allahamah (Utd Arab Em, 57.5), Amsterdam Courthouse (Netherlands, 136.8), Barka Independent Water
(Oman, 68.4), Beatrice Offshore Windfarm (United Kingdom, 162.2), Blackpool PFI Street Lighting (United Kingdom, 22.7),
Brussels Airport Co (Belgium, 58.8), Dhuruma Electricity Co (Saudi Arabia, 131.9), Dudgeon Offshore Wind (United
Kingdom, 213.2), Eeco Energy Efficiency Project (France, 39.8), Eneco Luchterduinen Wind Farm (Netherlands, 54.7),
Facility D IWPP (Qatar, 513.0), Firebolt RB Holdings Limited (United Kingdom, 117.5), Fixed Wing Training [MFTS] (United
Kingdom, 49.6), Fujeij Wind Farm Scheme (Jordan, 66.5), Gloucestershire Waste PFI (United Kingdom, 98.3), Humber
Gateway OFTO Scheme (United Kingdom, 37.9), Ibri Mega Gas Fired (Oman, 73.7), Liwa Plastics Plant (Oman, 204.1),
London City Airport (United Kingdom, 107.4), Lyon St-Exupery Privatization (France, 24.7), MEG 1 Offshore Wind (Germany,
153.3), N18 Motorway (Netherlands, 45.0), Norther Offshore Wind Farm (Belgium, 65.1), SGI Gas Network (Italy, 63.1), Sohar
Mega Gas Fired (Oman, 67.3), Steel Pipeline Manufacturing (Utd Arab Em, 24.7), Suomi Power Networks Oy (Sweden,
149.6), Teesside [MGT Power] (United Kingdom, 607.4), Tengizchevroil (Kazakhstan, 250.0), Total Gabon (Gabon, 56.7),
Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9), Zero Bypass (Slovak Rep, 22.1)
4 BNP Paribas 3,999.6 3.2 44 55.4MW Tages Grape PV (Italy, 42.1), A41 Toll Motorway (France, 68.4), Adven Oy (Finland, 78.3), Al Wathba Al Allahamah
(Utd Arab Em, 57.5), Alperia (Italy, 166.4), Andasol 1 & 2 Solar Thermal (Spain, 52.3), Antilope Renewable Wind Farm
(France, 150.2), Austria Gas Connect Stake Acq (Austria, 80.8), Beatrice Offshore Windfarm (United Kingdom, 162.2),
Borealis Swedish Electricity (Sweden, 243.1), Brussels Airport Co (Belgium, 58.8), Coriance Acquisition by FSI (France, 56.9),
Dudgeon Offshore Wind (United Kingdom, 213.2), Elandsfontein Expl & (South Africa, 30.0), Enaitinere SAU (Spain, 61.4),
Eneco Luchterduinen Wind Farm (Netherlands, 54.7), Euroports Netherlands (Netherlands, 54.4), Expansion of Cie des
Bauxites (Guinea, 118.3), Firebolt RB Holdings Limited (United Kingdom, 127.1), Geosel Underground Gas (France, 146.9),
Ibri Mega Gas Fired (Oman, 73.7), Infinis Landfill Gas (United Kingdom, 117.1), Liwa Plastics Plant (Oman, 204.1), Lundin
Petroleum AB (Norway, 215.0), Lyon St-Exupery Privatization (France, 24.7), Manchester Airport Group (United Kingdom,
99.8), Marche-en-Famenne Prison (Belgium, 75.5), Norther Offshore Wind Farm (Belgium, 65.1), Novillars Biomass Power
(France, 14.2), RusVinyl PVC Plant (Russian Fed, 144.8), SGI Gas Network (Italy, 63.1), Siccar Point Energy (United Kingdom,
75.0), Sociedad Concesionaria (Spain, 34.2), Sohar Mega Gas Fired (Oman, 67.3), Sonnedix Solar PV Portfolio (Italy, 36.3),
Suomi Power Networks Oy (Sweden, 152.8), Thermasol Extremadura Solar (Spain, 45.1), Total Gabon (Gabon, 56.7), Toul
Photovoltaic Solar (France, 26.0), Ventisei Wind Farm (Italy, 29.4), Veronagest SpA (Italy, 71.6), Vopak Oil Terminals Sale
(United Kingdom, 67.3), Vortex II Sarl (Spain, 76.9), Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
5 Credit Agricole 3,675.3 3.0 40 A41 Toll Motorway (France, 68.4), Adven Oy (Finland, 78.3), Akiem Locomotive Leasing Unit (France, 119.6), Alpha Trains
Emil Sarl (Germany, 63.4), Alpha Trains Emil Sarl (Germany, 40.8), Alum Bahrain Sixth Potline (Bahrain, 214.3), Amokasol
(Germany, 61.8), Bahrain LNG Import Terminal (Bahrain, 83.1), Bakermaat Snc (Netherlands, 68.1), Barka Independent
Water (Oman, 68.4), Borealis Swedish Electricity (Sweden, 243.1), Brussels Airport Co (Belgium, 58.8), Capital Stage Solar
PV (France, 53.0), Coriance Acquisition by FSI (France, 56.9), Dudgeon Offshore Wind (United Kingdom, 213.2), Edinburgh/
Midlothian Waste PFI (United Kingdom, 47.3), Expansion of Cie des Bauxites (Guinea, 118.3), Firebolt RB Holdings Limited
(United Kingdom, 127.1), Fixed Wing Training [MFTS] (United Kingdom, 49.6), Fonroche Energie SAS (France, 37.6), HFV
Cellini (Italy, 35.4), Ital Gas Storage (Italy, 119.0), Langa 99 Solar Power Plants (France, 83.7), Liwa Plastics Plant (Oman,
204.1), Lundin Petroleum AB (Norway, 215.0), Lyon St-Exupery Privatization (France, 24.7), Masai Wind and PV Power Plant
(France, 101.0), NACCO Materials Handling Group (United Kingdom, 33.6), Nord Pas de Calais Rural High (France, 111.8),
Novillars Biomass Power (France, 14.2), Rabigh Independent Power (Saudi Arabia, 80.0), SAAone (Netherlands, 104.8), SGI
Gas Network (Italy, 63.1), Siccar Point Energy (United Kingdom, 75.0), TanQuid Zweite GmbH & Co KG (Germany, 57.0),
Total Gabon (Gabon, 56.7), Toul Photovoltaic Solar (France, 26.0), Vopak Oil Terminals Sale (United Kingdom, 67.3), Yanbu
Aramco Sinopec Refining (Saudi Arabia, 140.9), Zero Bypass (Slovak Rep, 191.0)

66 Project Finance International January 25 2017

 2016 LEAGUE TABLES

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals
6 ING 3,472.6 2.8 43 A27/A1 Motorway (Netherlands, 73.0), A41 Toll Motorway (France, 68.4), ABO Wind AG (Germany, 18.9), Akiem Locomotive
Leasing Unit (France, 119.6), Alpha Trains Emil Sarl (Germany, 63.4), Bahrain LNG Import Terminal (Bahrain, 83.1),
Beatrice Offshore Windfarm (United Kingdom, 162.2), BIF Portugal (Portugal, 37.8), Blaue Warthe IV Onshore Wind
(Germany, 9.6), Borealis Swedish Electricity (Sweden, 243.1), Brookfield Renewable Energy (Portugal, 38.7), Brussels Airport
Co (Belgium, 58.8), Enaitinere SAU (Spain, 61.4), Falcon Acquisitions (United Kingdom, 27.7), Firebolt RB Holdings Limited
(United Kingdom, 127.1), Fraisthorpe Wind Farm (United Kingdom, 34.1), Gissar Project [Lukoil] (Uzbekistan, 71.4), Gunvor
Petroleum Rotterdam (Netherlands, 40.0), HFV Cellini (Italy, 35.4), Ital Gas Storage (Italy, 119.0), Kilpilahti Power Plant
(Finland, 31.9), Liwa Plastics Plant (Oman, 204.1), Lundin Petroleum (Norway, 215.0), Magnetar Solar Portfolio (United
Kingdom, 65.7), Mazoon Petrogas SAOC (Oman, 88.3), Melfi Wind Farm (Italy, 32.2), Mina Petroleum LLC (Oman, 49.0),
Newcastle Airport Refinancing (United Kingdom, 50.1), Otter Ports Holdings (United Kingdom, 70.8), Parque Eolico La
Boga (Spain, 20.9), Platina Eoxis (Italy, 50.2), Rentel Offshore Wind Farm (Belgium, 103.3), RusVinyl PVC Plant (Russian
Fed, 144.8), SGI Gas Network (Italy, 63.1), Siccar Point Energy (United Kingdom, 75.0), Sommette-Eaucourt Wind Farm
(France, 15.3), St Martin lArs Wind Farm Acq (France, 6.3), Suomi Power Networks Oy (Sweden, 152.8), Tengizchevroil
(Kazakhstan, 250.0), Thyssengas GmbH (Germany, 62.2), Vitol Offshore Cape Three (Ghana, 84.5), Vopak Oil Terminals
Sale (United Kingdom, 67.3), Vortex II Sarl (Spain, 76.9)
7 Societe Generale 3,436.5 2.8 39 6MW Midi Pyrenees Greenfield (France, 6.4), A41 Toll Motorway (France, 68.4), Aix Marseille Univ Campus (France, 51.3),
Alsace Broadband Project (France, 201.3), A-Modell A8 Ulm-Augsburg (Germany, 38.8), Bahrain LNG Import Terminal
(Bahrain, 83.1), Bakermaat Snc (Netherlands, 68.1), Beatrice Offshore Windfarm (United Kingdom, 162.2), Borealis Swedish
Electricity (Sweden, 235.1), BRI Wind Farms 4 (Ireland-Rep, 59.3), Brussels Airport Co (Belgium, 58.8), CGN Europe Energy
UK Holding (United Kingdom, 29.0), Condorcet Campus (France, 95.1), Dhuruma Electricity Co (Saudi Arabia, 131.9),
Dudgeon Offshore Wind (United Kingdom, 213.2), Enaitinere SAU (Spain, 61.4), Expansion of Cie des Bauxites (Guinea,
118.3), Gunvor Petroleum Rotterdam (Netherlands, 40.0), Humber Gateway OFTO Scheme (United Kingdom, 37.9), Ital
Gas Storage (Italy, 112.3), Itinere Infraestructuras (Spain, 57.9), Liwa Plastics Plant (Oman, 204.1), Lyon St-Exupery
Privatization (France, 24.7), MEG 1 Offshore Wind (Germany, 153.3), Midi Pyrenees Greenfield (France, 9.9), N17/N18
Gort-Tuam (Ireland-Rep, 121.6), Nord Pas de Calais Rural High (France, 111.8), Norther Offshore Wind Farm (Belgium, 65.1),
Photosol Solar Photovoltaic (France, 24.5), Picardie Onshore Wind Farm (France, 22.7), Rentel Offshore Wind Farm
(Belgium, 103.3), Seine-et-Marne High Speed (France, 25.8), SGI Gas Network (Italy, 63.1), Tengizchevroil (Kazakhstan,
250.0), Thermasol Extremadura Solar (Spain, 45.1), Total Gabon (Gabon, 56.7), Troyes Waste to Energy (France, 91.5),
University of Lorraine Bldg (France, 45.1), Vitol Offshore Cape Three (Ghana, 88.8)
8 Sberbank 2,997.8 2.4 3 RusVinyl PVC Plant (Russian Fed, 144.8), Yamal SPG (Russian Fed, 2,052.9), Zabaykalsky Kray Bystrinskoye (Russian Fed,
800.0)
9 Natixis 2,838.3 2.3 41 55.4MW Tages Grape PV (Italy, 42.1), Aeroport Toulouse-Blagnac (France, 56.7), Al Wathba Al Allahamah (Utd Arab Em,
57.5), Apulia 5 Solar Portfolio (Italy, 12.1), Archive 02 SAS (France, 35.6), Bahrain LNG Import Terminal (Bahrain, 83.1),
Beatrice Offshore Windfarm (United Kingdom, 162.2), Boissy Energie Renewable (France, 9.3), Boissy Energie Renewable
(France, 9.3), Brainwave Solar PV Portfolio (Italy, 6.2), Brussels Airport Co (Belgium, 58.8), Capstice Operating Solar
(France, 14.4), Celano Green Energy (Italy, 23.1), Euroports Netherlands (Netherlands, 54.4), Expansion of Cie des Bauxites
(Guinea, 118.3), Firebolt RB Holdings Limited (United Kingdom, 127.1), Fotowatio Renewable Ventures (Spain, 13.3), Gissar
Project [Lukoil] (Uzbekistan, 71.4), Holding De Participation Dans (France, 108.0), Ital Gas Storage (Italy, 119.0), Kemsley
Combined Heat and (United Kingdom, 88.8), Liwa Plastics Plant (Oman, 204.1), London City Airport (United Kingdom,
107.4), Lundin Petroleum AB (Norway, 215.0), Magnetar Solar Portfolio (United Kingdom, 65.7), Martinique Solar PV
Portfolio (France, 21.8), MEG 1 Offshore Wind (Germany, 153.3), N17/N18 Gort-Tuam (Ireland-Rep, 77.1), Nord Pas de Calais
Rural High (France, 111.8), North Wales Waste (United Kingdom, 55.6), Novillars Biomass Power (France, 14.2), Photosol
Solar Photovoltaic (France, 24.5), Rabigh Independent Power (Saudi Arabia, 80.0), Siccar Point Energy (United Kingdom,
75.0), Sonnedix Solar PV Portfolio (Italy, 36.3), Sthrn Italy Three Wind Farms (Italy, 28.1), Teesside [MGT Power] (United
Kingdom, 50.4), Total Gabon (Gabon, 56.7), Udine District Heating Project (Italy, 34.8), Veronagest SpA (Italy, 71.6), Vitol
Offshore Cape Three (Ghana, 84.5)
10 Nord/LB 2,418.5 2.0 47 A-Modell A8 Ulm-Augsburg GmbH (Germany, 38.8), Auvergne Sheep Shelter (France, 24.7), Bernagues Renewable
Onshore (France, 27.9), Blackpool PFI Street Lighting (United Kingdom, 22.7), Cambridgeshire BSF (United Kingdom, 74.6),
Canadian Solar Inc (United Kingdom, 52.5), Cloghboola Wind Farm (Ireland-Rep, 45.0), CNGT Wind Farm (Ireland-Rep,
65.9), Cordal Wind Farm (Ireland-Rep, 58.7), Dalbeattie Learning Campus (United Kingdom, 38.2), E Lothian Cmnty Hosp
(United Kingdom, 90.3), ENR 1 Solar Rooftop PV (France, 19.6), Ferme Eolienne de St Pierre (France, 43.6), Fire Support
[SSFR] (United Kingdom, 63.8), FIWA II & III (Germany, 95.1), GaElec Natural Resources (United Kingdom, 96.8), Gayton
Refinancing (United Kingdom, 39.7), Gilmerdingen Onshore Wind Farm (Germany, 27.6), Glanaruddery Windfarms
(Ireland-Rep, 74.6), Glencarby Windfarm (Ireland-Rep, 67.7), Gloucestershire Waste PFI (United Kingdom, 104.3), Hub
SW Ayr DBFM Co (United Kingdom, 39.3), Hub SW EALC DBFM (United Kingdom, 62.6), Hub SW LARGS DBFM (United
Kingdom, 69.8), Joncels Energie SAS (France, 30.5), KHS DBFMCO (United Kingdom, 33.9), Killaveenoge Wind Farm
(Ireland-Rep, 45.0), Kirklees Social Housing PFI (United Kingdom, 50.7), Lacedonia Onshore Wind Farm (Italy, 88.6), LBP
DBFMCo (United Kingdom, 40.1), Leitr Gungaid Wind Farm (Ireland-Rep, 33.6), Les Gourlous Wind Farm Project (France,
68.6), Lunas Wind Farm (France, 27.8), Newbattle DBFMCO (United Kingdom, 53.3), Obton Solenergi Garonne SNC
(France, 8.9), Oppido Onshore Wind Farm (Italy, 23.6), Owls Hatch Solar Acquisition (United Kingdom, 30.8), SAAone
(Netherlands, 104.8), Salford/Wigan BSF (UK, 94.7), Scartaglen Wind Farm (Ireland-Rep, 72.7), Sheep Farm Rooftop Solar
(France, 24.8), Sheffield Road Maintenance PFI (UK, 51.7), SSE (Ireland-Rep, 64.1), Var School (France, 38.2), West Calder
High School (UK, 40.0), Windpark Falkenberg (Germany, 16.8), Withernwick Wind Farm (United Kingdom, 32.1)

Project Finance International January 25 2017 67

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED
Lead manager Volume (US$m) % No of deals Deals
11 Gazprombank 2,412.4 2.0 5 30MW Altai, Bashkortostan and (Russian Fed, 23.3), 70MW Altai, Bashkortostan and (Russian Fed, 110.0), Aeroexpress
Double-Decker (Russian Fed, 217.9), St Petersburg Municipal Hosp (Russian Fed, 8.3), Yamal SPG (Russian Fed, 2,052.9)
12 UniCredit 2,354.5 1.9 30 55.4MW Tages Grape PV (Italy, 42.1), Abertis Internacional (Italy, 82.9), Alpha Trains Emil Sarl (Germany, 21.8), Ascoli
Satriano Wind Park (Italy, 21.9), Austria Gas Connect Stake Acq (Austria, 80.8), Autostrada Pedemontana (Italy, 44.1),
ForVEI (Italy, 63.8), Gissar Project [Lukoil] (Uzbekistan, 71.4), HFV Cellini (Italy, 35.4), Izmir Health Campus (Turkey, 77.8),
Kilpilahti Power Plant (Finland, 31.9), Liwa Plastics Plant (Oman, 204.1), Lundin Petroleum AB (Norway, 215.0), Maccaferri
Biogas Power Plant (Italy, 14.4), Martel Onshore Wind Farm (France, 46.8), Melfi Wind Farm (Italy, 32.2), Molise and
Sardinia Regions (Italy, 56.6), Nice Cote d Azur (France, 142.7), Oksut Gold Mine Project (Turkey, 150.0), People Mover
Bologna (Italy, 75.3), Replacement Distn Lines and (Turkey, 115.0), San Basilio Wind Farm (Spain, 23.9), SGI Gas Network
(Italy, 63.1), Sthrn Italy Three Wind Farms (Italy, 28.1), Tengizchevroil (Kazakhstan, 250.0), Thermasol Extremadura Solar
(Spain, 45.1), Three Hydropower Plant (Turkey, 22.8), Ururi Windfarm (Italy, 33.1), Veronagest SpA (Italy, 71.6), Zero Bypass
(Slovak Rep, 191.0)
13 National Bank of Kuwait 2,097.4 1.7 2 Clean Fuels Scheme (Kuwait, 1,990.0), London City Airport (United Kingdom, 107.4)
14 Kuwait Finance House 1,990.0 1.6 1 Clean Fuels Scheme (Kuwait, 1,990.0)
15 Intesa Sanpaolo 1,873.7 1.5 14 55.4MW Tages Grape PV (Italy, 42.1), Autostrada Pedemontana (Italy, 44.1), ForVEI (Italy, 63.8), Gissar Project [Lukoil]
(Uzbekistan, 71.4), HFV Cellini (Italy, 35.4), Integrated Asset Mgmt PLC (Italy, 114.3), Ital Gas Storage (Italy, 119.0), Izmir
Health Campus (Turkey, 77.8), Lyon St-Exupery Privatization (France, 24.7), Nice Cote d Azur (France, 142.7), Societa
Aeroporto Catania SpA (Italy, 44.5), Tengizchevroil (Kazakhstan, 250.0), Thermasol Extremadura Solar (Spain, 45.1), Yamal
SPG (Russian Fed, 798.7)
16 Santander 1,826.8 1.5 31 Abertis Internacional (Italy, 82.9), Africana Energia SL (Spain, 13.5), Apulia 5 Solar Portfolio (Italy, 12.1), Bahrain LNG Import
Terminal (Bahrain, 83.1), Beatrice Offshore Windfarm (United Kingdom, 162.2), BIF Portugal (Portugal, 37.8), Brookfield
Renewable Energy (Portugal, 38.7), Brussels Airport Co (Belgium, 58.8), Concesiones de Madrid (Spain, 110.3), Dioxipe
Solar (Spain, 46.5), Dudgeon Offshore Wind (United Kingdom, 213.2), Enaitinere SAU (Spain, 61.4), Euroports Netherlands
(Netherlands, 54.4), Falcon Acquisitions (United Kingdom, 27.7), Firebolt RB Holdings Limited (United Kingdom, 127.1),
Fotowatio Renewable Ventures (Spain, 13.3), Ibereolica Solar Moron SL (Spain, 30.0), Ibereolica Solar Olivenza (Spain,
62.3), Ibereolica Solar Olivenza SL (Spain, 29.9), Intercambiador de Transportes (Spain, 53.7), Ital Gas Storage (Italy, 112.3),
Lisbon Cruise Terminal LDA (Portugal, 8.0), London City Airport (United Kingdom, 107.4), NCP Car Park Acquisition (United
Kingdom, 67.9), Pasilly Wind Farm (France, 26.7), Project Toro (Spain, 21.9), Quercus Asset Solar PV (United Kingdom, 17.9),
Serranopark (Spain, 20.0), Sociedade Concesionaria Novo (Spain, 30.4), Teesside [MGT Power] (United Kingdom, 50.4),
Thermasol Extremadura Solar (Spain, 45.1)
17 KfW IPEX-Bank 1,786.5 1.5 17 A41 Toll Motorway (France, 68.4), A94 Motorway Extension (Germany, 68.1), Abellio GmbH (Germany, 71.2), Akiem
Locomotive Leasing Unit (France, 119.6), Al Wathba Al Allahamah (Utd Arab Em, 57.5), A-Modell A8 Ulm-Augsburg
(Germany, 38.8), Austria Gas Connect Stake Acq (Austria, 80.8), Barka Independent Water (Oman, 68.4), Beatrice Offshore
Windfarm (United Kingdom, 162.2), Dhuruma Electricity Co (Saudi Arabia, 131.9), Dudgeon Offshore Wind (United
Kingdom, 213.2), Ibri Mega Gas Fired (Oman, 73.7), Liwa Plastics Plant (Oman, 204.1), MEG 1 Offshore Wind (Germany,
153.3), Rentel Offshore Wind Farm (Belgium, 103.3), SAAone (Netherlands, 104.8), Sohar Mega Gas Fired (Oman, 67.3)
18 Mizuho Financial 1,691.8 1.4 12 Dhuruma Electricity Co (Saudi Arabia, 131.9), Dudgeon Offshore Wind (United Kingdom, 213.2), Eneco Luchterduinen Wind
Farm (Netherlands, 54.7), Facility D IWPP (Qatar, 513.0), Fujeij Wind Farm Scheme (Jordan, 66.5), Gissar Project [Lukoil]
(Uzbekistan, 71.4), Ibri Mega Gas Fired (Oman, 73.7), Sohar Mega Gas Fired (Oman, 67.3), Steel Pipeline Manufacturing
(Utd Arab Em, 24.7), Tengizchevroil (Kazakhstan, 250.0), Vitol Offshore Cape Three (Ghana, 84.5), Yanbu Aramco Sinopec
Refining (Saudi Arabia, 140.9)
19 RBS 1,663.5 1.4 18 Altaveedan Wind Farm (United Kingdom, 33.5), Beatrice Offshore Windfarm (United Kingdom, 162.2), Bluefield Solar
Income Fund (United Kingdom, 106.1), Borealis Swedish Electricity (Sweden, 243.1), Brussels Airport Co (Belgium, 58.8),
Coriance Acquisition by FSI (France, 56.9), Euroports Netherlands (Netherlands, 54.4), Firebolt RB Holdings Limited
(United Kingdom, 127.1), Infinis Landfill Gas (United Kingdom, 117.1), London City Airport (United Kingdom, 107.4), Lyon
St-Exupery Privatization (France, 24.7), Manchester Airport Group (United Kingdom, 99.8), NCP Car Park Acquisition
(United Kingdom, 67.9), Newcastle Airport Refinancing (United Kingdom, 50.1), Otter Ports Holdings (United Kingdom,
70.8), Quixwood Moor Wind Acquisition (United Kingdom, 63.4), Suomi Power Networks Oy (Sweden, 152.8), Vopak Oil
Terminals Sale (United Kingdom, 67.3)
20 HSBC 1,639.2 1.3 12 Borealis Swedish Electricity (Sweden, 243.1), ENEC Barakah One Nuclear Power (Utd Arab Em, 62.5), Falcon Acquisitions
(United Kingdom, 27.7), Fekola Mine Project (Mali, 120.0), Liwa Plastics Plant (Oman, 204.1), Manchester Airport Group
(United Kingdom, 99.8), Mazoon Petrogas SAOC (Oman, 88.3), North Sea DEA Assets Sale (United Kingdom, 143.5),
RusVinyl PVC Plant (Russian Fed, 144.8), Tengizchevroil (Kazakhstan, 250.0), Vitol Offshore Cape Three (Ghana, 114.5),
Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
21 SEB 1,622.6 1.3 20 Adven Oy (Finland, 78.3), Alpha Trains Emil Sarl (Germany, 63.4), A-Modell A8 Ulm-Augsburg GmbH (Germany, 38.8),
Borealis Swedish Electricity (Sweden, 243.1), Brussels Airport Co (Belgium, 58.8), Coriance Acquisition by FSI (France, 56.9),
Euroports Netherlands (Netherlands, 54.4), Falcon Acquisitions (United Kingdom, 27.7), Hamnefjell Wind Farm (Norway,
38.1), Kilpilahti Power Plant (Finland, 31.9), Lietuvos energijos gamyba AB (Lithuania, 27.5), London City Airport (United
Kingdom, 107.4), Lundin Petroleum AB (Norway, 215.0), MEG 1 Offshore Wind (Germany, 153.3), Monaco I Gas Pipeline
(Germany, 47.7), NCP Car Park Acquisition (United Kingdom, 67.9), Nordic Wind Power DA (Norway, 83.8), Suomi Power
Networks Oy (Sweden, 152.8), Thyssengas GmbH (Germany, 62.2), Vilnius Police Station (Lithuania, 13.8)
22 Standard Chartered 1,440.6 1.2 12 Alum Bahrain Sixth Potline (Bahrain, 214.3), Bahrain LNG Import Terminal (Bahrain, 162.8), DEWA Coal (Utd Arab Em,
261.1), Dhuruma Electricity (Saudi Arabia, 131.9), Elcrest Exploration & Product (Nigeria, 75.0), ENEC Barakah One Nuclear

68 Project Finance International January 25 2017

 2016 LEAGUE TABLES

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals
Power (Utd Arab Em, 62.5), Ibri Mega Gas Fired (Oman, 73.7), Rabigh Independent Power (Saudi Arabia, 80.0), Sohar Mega
Gas Fired (Oman, 67.3), Total Gabon (Gabon, 56.7), Vitol Offshore Cape Three (Ghana, 114.5), Yanbu Aramco Sinopec
Refining (Saudi Arabia, 140.9)
23 Lloyds Bank 1,327.8 1.1 11 Aviva Renewable Asts Acq (United Kingdom, 256.7), Beatrice Offshore Windfarm (United Kingdom, 162.2), Brussels Airport
(Belgium, 58.8), Euroports Netherlands (Netherlands, 54.4), Firebolt RB Holdings (United Kingdom, 127.1), Infinis Landfill
Gas (United Kingdom, 117.1), Lundin Petroleum (Norway, 215.0), North Sea DEA Assets Sale (United Kingdom, 143.5), Otter
Ports Holdings (United Kingdom, 70.8), Seabird Acquisitions (Guernsey, 71.9), Teesside [MGT Power] (United Kingdom, 50.4)
24 Deutsche Bank 1,263.0 1.0 9 Al Rajef Wind Farm (Jordan, 19.4), Borealis Swedish Electricity (Sweden, 232.8), Gori Wind Farm (Georgia, 4.0), Lundin
Petroleum (Norway, 215.0), MEG 1 Offshore Wind (Germany, 153.3), Primrose Solar 16 (United Kingdom, 59.6), Spex Plants
Refinancing (Spain, 188.0), Tengizchevroil (Kazakhstan, 250.0), Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
25 Bank of China 1,237.5 1.0 6 CGN Europe Energy UK Holding (United Kingdom, 29.0), DEWA Coal (Utd Arab Em, 261.1), Tema Port and Logistics Hub
(Ghana, 472.0), Tengizchevroil (Kazakhstan, 250.0), Vitol Offshore Cape Three (Ghana, 84.5), Yanbu Aramco Sinopec
Refining (Saudi Arabia, 140.9)
26 Turkiye Garanti Bankasi 1,222.1 1.0 13 Akocak HydroElec Power Plant (Turkey, 100.0), Almatis (Netherlands, 225.0), Asagi Kalekoy Hydro Power (Turkey, 250.0),
Aydin - Marding 2 Global (Turkey, 15.0), Bergres WEPP Greenfield Power (Turkey, 58.8), Eskisehir City Hospital (Turkey,
233.2), Kadincik I-II HEPPs Acq (Turkey, 146.5), Mare 2 WEPP Greenfield Power (Turkey, 10.1), Poyraz Wind Farm Extension
(Turkey, 16.5), Samurlu 2 WEPP Greenfield (Turkey, 10.0), Seytali Wind Farm Extension (Turkey, 7.5), TAV Macedonia
(Macedonia, 34.5), Yahyali Wind Farm (Turkey, 115.0)
27 Commonwealth Bank of Australia 1,180.8 1.0 12 Alpha Trains Emil Sarl (Germany, 21.8), Alpha Trains Emil Sarl (Germany, 63.4), Beatrice Offshore Windfarm (United
Kingdom, 162.2), Coriance Acquisition by FSI (France, 56.9), Greencoat UK Wind PLC (United Kingdom, 143.0), London City
Airport (United Kingdom, 107.4), Lundin Petroleum AB (Norway, 215.0), Magnetar Solar Portfolio (United Kingdom, 65.7),
Newcastle Airport Refinancing (United Kingdom, 50.1), Otter Ports Holdings (United Kingdom, 70.8), Siccar Point Energy
(United Kingdom, 75.0), Suomi Power Networks Oy (Sweden, 149.6)
28 JP Morgan 1,147.7 0.9 5 Liwa Plastics Plant (Oman, 204.1), Lundin Petroleum AB (Norway, 215.0), Tengizchevroil (Kazakhstan, 250.0), Yanbu
Aramco Sinopec Refining (Saudi Arabia, 140.9), Yilport Holding AS (Portugal, 337.7)
29 Natl Comml Bank Saudi Arabia 1,094.7 0.9 5 DEWA Coal (Utd Arab Em, 261.1), Dhuruma Electricity Co (Saudi Arabia, 131.9), Liwa Plastics Plant (Oman, 204.1), Rabigh
Independent Power (Saudi Arabia, 128.1), Yanbu Aramco Sinopec Refining (Saudi Arabia, 369.5)
30 CaixaBank 1,068.0 0.9 28 A41 Toll Motorway (France, 68.4), Abertis Internacional (Italy, 82.9), Asset Energia Solar (Spain, 30.0), Autopista Central
Gallega (Spain, 26.5), BBG (Spain, 23.9), Beatrice Offshore Windfarm (United Kingdom, 135.1), Chumillas Wind Farm
(Spain, 4.8), Dioxipe Solar SL (Spain, 46.5), Enaitinere SAU (Spain, 61.4), Eolica Mirasierra SL (Spain, 21.0), Eolica
Renovables de (Spain, 4.3), Gestenersol de Inversiones Uno (Spain, 42.4), Ibereolica Solar Moron SL (Spain, 30.0),
Ibereolica Solar Olivenza SL (Spain, 29.9), Itinere Infraestructuras (Spain, 57.9), Lepazar XXI (Spain, 14.2), Lyon St-Exupery
Privatization (France, 24.7), Magnetar Solar Portfolio (United Kingdom, 65.7), Noatum Container Terminal (Spain, 13.8),
Parque Eolico La Boga (Spain, 20.9), Renovalia Energy (Spain, 27.6), Serranopark (Spain, 20.0), Sheffield Road
Maintenance PFI (United Kingdom, 51.7), Sociedade Concesionaria Novo (Spain, 30.4), Thermasol Extremadura Solar
(Spain, 45.1), Vilar do Monte Hydropower (Portugal, 8.0), Vortex II Sarl (Spain, 76.9), Wiesa 6 SL (Spain, 4.2)
31 BBVA 966.2 0.8 21 Abertis Internacional (Italy, 82.9), Affinity Flying Training Svcs (United Kingdom, 97.1), Apulia 5 Solar Portfolio (Italy, 12.1),
Autovia De Los Llanos (Spain, 56.1), BBG (Spain, 23.9), Dioxipe Solar SL (Spain, 46.5), Euroports Netherlands (Netherlands,
54.4), Global Chasselas SL (Spain, 59.5), Ibereolica Solar Moron SL (Spain, 30.0), Ibereolica Solar Olivenza (Spain, 62.3),
Ibereolica Solar Olivenza SL (Spain, 29.9), Ital Gas Storage (Italy, 112.3), Lepazar XXI (Spain, 14.2), Noatum Container
Terminal (Spain, 16.9), Parque Eolico La Boga (Spain, 20.9), Project Toro (Spain, 21.9), Sheffield Road Maintenance PFI
(United Kingdom, 51.7), Sociedad Concesionaria (Spain, 34.2), Sociedade Concesionaria Novo (Spain, 30.4), SSE (Ireland-
Rep, 64.1), Thermasol Extremadura Solar (Spain, 45.1)
32 Banco de Sabadell 924.7 0.8 23 A41 Toll Motorway (France, 68.4), Abertis Internacional (Italy, 82.9), Andasol 1 & 2 Solar Thermal (Spain, 52.3), Assel
Valley Wind Farm (United Kingdom, 26.0), CGN Europe Energy UK Holding (United Kingdom, 29.0), Chumillas Wind Farm
(Spain, 4.8), Cordal Wind Farm (Ireland-Rep, 58.7), Dioxipe Solar (Spain, 46.5), Enaitinere SAU (Spain, 61.4), Eolica
Mirasierra SL (Spain, 17.0), Eolica Renovables de (Spain, 4.3), Euroports Netherlands (Netherlands, 54.4), Fotowatio
Renewable Ventures (Spain, 13.3), Global Chasselas SL (Spain, 59.5), Ibereolica Solar Moron SL (Spain, 30.0), Ibereolica
Solar Olivenza SL (Spain, 29.9), Intercambiador de Transportes (Spain, 53.7), Itinere Infraestructuras (Spain, 57.9), Parque
Eolico La Boga (Spain, 20.9), Renovalia Energy (Spain, 27.6), Thermasol Extremadura Solar (Spain, 45.1), Vortex II
(Spain, 76.9), Wiesa 6 SL (Spain, 4.2)
33 National Australia Bank 841.2 0.7 8 Borealis Swedish Electricity (Sweden, 243.1), Coriance Acquisition by FSI (France, 56.9), Cubico Sustainable Invests (United
Kingdom, 180.0), Cubico Sustainable Invests (United Kingdom, 45.6), Eco Wind Power (Ireland-Rep, 38.7), Firebolt RB
Holdings Limited (United Kingdom, 127.1), Manchester Airport Group (United Kingdom, 99.8), Newcastle Airport
Refinancing (United Kingdom, 50.1)
34 Sumitomo Mitsui Trust 811.7 0.7 6 Eneco Luchterduinen Wind Farm (Netherlands, 54.7), Facility D IWPP (Qatar, 513.0), Humber Gateway OFTO Scheme
(United Kingdom, 37.9), Ibri Mega Gas Fired (Oman, 73.7), Norther Offshore Wind Farm (Belgium, 65.1), Sohar Mega Gas
Fired (Oman, 67.3)
35 Al Rajhi Banking & Investment 796.5 0.7 2 Rabigh Independent Power (Saudi Arabia, 427.0), Yanbu Aramco Sinopec Refining (Saudi Arabia, 369.5)
36 ABN AMRO Bank 795.1 0.6 7 Akiem Locomotive Leasing Unit (France, 119.6), Firebolt RB Holdings Limited (United Kingdom, 127.1), Gunvor Petroleum
Rotterdam (Netherlands, 40.0), Lundin Petroleum AB (Norway, 215.0), MEG 1 Offshore Wind (Germany, 153.3), Norther
Offshore Wind Farm (Belgium, 65.1), Siccar Point Energy (United Kingdom, 75.0)
37 Qatar National Bank 787.2 .6 3 Facility D IWPP (Qatar, 513.0), Ras Abu Fontas 3 Desalination (Qatar, 133.3), Yanbu Aramco Sinopec Refi (Saudi Arabia, 140.9)

Project Finance International January 25 2017 69

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED
Lead manager Volume (US$m) % No of deals Deals
38 Groupe BPCE 775.4 0.6 13 Aeroport Toulouse-Blagnac (France, 56.7), Holding De Participation Dans (France, 108.0), Holding de Particpation Dans
(France, 40.0), Lille 2 Univ Refurbishment (France, 69.2), Lyon Broadband Network Project (France, 7.9), Martinique Solar
PV Portfolio (France, 21.8), Masai Wind and PV Power Plant (France, 101.0), Nord Pas de Calais Rural High (France, 111.8),
Novillars Biomass Power (France, 14.2), Photosol Solar Photovoltaic (France, 24.5), Tenergie Solar Portfolio 2 (France,
86.9), Universite Paris Est Marne la (France, 95.3), Var School (France, 38.2)
39 Bankia 742.9 0.6 14 Africana Energia SL (Spain, 13.5), Concesiones de Madrid (Spain, 110.3), Dioxipe Solar SL (Spain, 46.5), Enaitinere SAU
(Spain, 61.4), Eolica Mirasierra SL (Spain, 21.0), Fotowatio Renewable Ventures (Spain, 13.3), Heliasetym SL (Spain, 48.3),
Ibereolica Solar Moron SL (Spain, 30.0), Intercambiador de Transportes (Spain, 53.7), Itinere Infraestructuras (Spain, 57.9),
Metros Ligeros de Madrid (Spain, 199.8), Renovalia Energy (Spain, 27.6), Sol de Alconchel SL (Spain, 14.5), Thermasol
Extremadura Solar (Spain, 45.1)
40 Scotiabank 718.3 0.6 4 Borealis Swedish Electricity (Sweden, 243.1), London City Airport (United Kingdom, 107.4), Lundin Petroleum AB (Norway,
215.0), Suomi Power Networks Oy (Sweden, 152.8)
41 Citigroup 677.6 0.6 5 Brussels Airport Co (Belgium, 58.8), Siccar Point Energy (United Kingdom, 75.0), Suomi Power Networks Oy (Sweden,
152.8), Tengizchevroil (Kazakhstan, 250.0), Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
42 ICBC 671.4 0.5 3 DEWA Coal (Utd Arab Em, 261.1), Hussein Gas-Fired Power Plant (Jordan, 332.5), Izmir Health Campus (Turkey, 77.8)
43 CIBC World Markets 670.7 0.5 5 Borealis Swedish Electricity (Sweden, 243.1), London City Airport (United Kingdom, 107.4), Manchester Airport Group
(United Kingdom, 99.8), Otter Ports Holdings (United Kingdom, 70.8), Suomi Power Networks Oy (Sweden, 149.6)
44 Rabobank 646.8 0.5 10 Aardwarmte Vogelaer (Netherlands, 14.1), Castledockrell Wind Group (Ireland-Rep, 46.7), EWT Project (Netherlands, 2.2),
Gunvor Petroleum Rotterdam (Netherlands, 40.0), MEG 1 Offshore Wind (Germany, 153.3), Norther Offshore Wind Farm
(Belgium, 65.1), Rentel Offshore Wind Farm (Belgium, 103.3), Shere Group (United Kingdom, 80.0), SSE PLC (Ireland-Rep,
64.1), Tellenes Wind Farm (Norway, 77.9)
45 Siemens Financial 637.6 0.5 6 Beatrice Offshore Windfarm (UK, 162.2), Dudgeon Offshore Wind (UKm, 213.2), Edinburgh/Midlothian Waste PFI (UK, 47.3),
Firebolt RB Holdings Limited (UK, 127.1), Melfi Wind Farm (Italy , 32.2), North Wales Waste (UK, 55.6)
=46 Banque Saudi Fransi 629.5 0.5 3 Dhuruma Electricity Co (Saudi Arabia, 131.9), Rabigh Independent Power (Saudi Arabia, 128.1), Yanbu Aramco Sinopec
Refining (Saudi Arabia, 369.5)
=46 Samba Financial 629.5 0.5 3 Dhuruma Electricity (Saudi Arabia, 131.9), Rabigh Independent Power (Saudi Arabia, 128.1), Yanbu Aramco Sinopec Refining
(Saudi Arabia, 369.5)
=46 Saudi British Bank 629.5 0.5 3 Dhuruma Electricity Co (Saudi Arabia, 131.9), Rabigh Independent Power (Saudi Arabia, 128.1), Yanbu Aramco Sinopec
Refining (Saudi Arabia, 369.5)
49 Bayerische Landesbank 618.2 0.5 10 A94 Motorway Extension (Germany, 68.1), Amokasol (Germany, 61.8), Andasol 1 & 2 Solar Thermal (Spain, 52.3), Condorcet
Campus (France, 95.1), Conergy Solar PV Portfolio Acq (United Kingdom, 40.0), Gloucestershire Waste PFI (United
Kingdom, 104.3), LHI Leasing GmbH (Germany, 55.0), Monaco I Gas Pipeline (Germany, 47.7), Thermasol Extremadura
Solar (Spain, 45.1), Wirsol Energy (United Kingdom, 48.9)
50 Barclays 593.6 0.5 7 Kathu Concentrated Solar (South Africa, 153.6), Kemsley Combined Heat and (United Kingdom, 88.8), LDV Harburnhead
Limited (United Kingdom, 59.4), Magnetar Solar Portfolio (United Kingdom, 65.7), Manchester Airport Group (United
Kingdom, 99.8), North Wales Waste (United Kingdom, 55.6), Otter Ports Holdings (United Kingdom, 70.8)
51 Nordea 568.2 0.5 4 Adven Oy (Finland, 78.3), Borealis Swedish Electricity (Sweden, 243.1), Kilpilahti Power Plant (Finland, 31.9), Lundin
Petroleum AB (Norway, 215.0)
52 DNB ASA 566.6 0.5 4 Borealis Swedish Electricity (Sweden, 243.1), Leitr Gungaid Wind Farm (Ireland-Rep, 33.6), Lundin Petroleum (Norway,
215.0), Siccar Point Energy (United Kingdom, 75.0)
53 KBC Group 564.3 0.5 6 A27/A1 Motorway (Netherlands, 73.0), Beatrix Lock Expansion (Netherlands, 11.0), Brabo 1 Tram System (Belgium, 91.2),
Prison of Beveren (Belgium, 94.8), Rentel Offshore Wind Farm (Belgium, 103.3), Zero Bypass (Slovak Rep, 191.0)
54 Alinma Bank 558.8 0.5 2 Dhuruma Electricity Co (Saudi Arabia, 131.9), Rabigh Independent Power (Saudi Arabia, 427.0)
55 Commerzbank 557.1 0.5 7 Coriance Acquisition by FSI (France, 56.9), London City Airport (United Kingdom, 107.4), MEG 1 Offshore Wind (Germany,
153.3), Monaco I Gas Pipeline (Germany, 47.7), Seabird Acquisitions (Guernsey, 71.9), SGI Gas Network (Italy, 63.1), TanQuid
Zweite (Germany, 57.0)
56 HSH Nordbank 536.3 0.4 8 Adven Oy (Finland, 78.3), Akiem Locomotive Leasing Unit (France, 119.6), Alpha Trains Emil Sarl (Germany, 63.4), Coriance
Acquisition by FSI (France, 56.9), European Energy (Denmark, 72.7), Mont dErny Greenfield Wind (France, 33.4),
Saxony Anhalt Wind Farm (Germany, 78.9), Silovuori Onshore Wind Farm (Finland, 33.3)
57 Swedbank 524.7 0.4 3 Borealis Swedish Electricity (Norway, 243.1), Lundin Petroleum (Norway, 215.0), Mariestad and Toreboda Wind (Sweden, 66.6)
58 RBC Capital Markets 517.0 0.4 4 Borealis Swedish Electricity (Sweden, 243.1), Brussels Airport Co (Belgium, 58.8), Suomi Power Networks Oy (Sweden,
152.8), Thyssengas (Germany, 62.2)
59 Arab Banking Corporation 506.7 0.4 3 Alum Bahrain Sixth Potline (Bahrain, 214.3), Liwa Plastics Plant (Oman, 204.1), Mazoon Petrogas SAOC (Oman, 88.3)
60 La Banque Postale 477.9 0.4 11 6MW Midi Pyrenees Greenfield (France, 6.4), A41 Toll Motorway (France, 68.4), Akiem Locomotive Leasing Unit (France,
119.6), Euroports Netherlands (Netherlands, 54.4), Holding De Participation Dans (France, 40.0), Langa 99 Solar Power
Plants (France, 83.7), Lyon St-Exupery Privatization (France, 24.7), Midi Pyrenees Greenfield (France, 9.9), Photosol Solar
Photovoltaic (France, 24.5), Picardie Onshore Wind Farm (France, 22.7), Seine-et-Marne High Speed (France, 23.6)
61 Credit Mutuel 458.9 0.4 7 Akiem Locomotive Leasing Unit (France, 119.6), Boralex (France, 19.2), Boralex Three Wind Farms (France, 55.8), Liwa
Plastics Plant (Oman, 204.1), Lyon St-Exupery Privatization (France, 24.7), San Patrick Wind Portfolio (France, 23.9),
Touvent Greenfield Wind Farms (France, 11.6)
62 Danske Bank 458.1 0.4 2 Borealis Swedish Electricity (Sweden, 243.1), Lundin Petroleum AB (Norway, 215.0)
63 Banco Popular Espanol 432.9 0.4 9 Abertis Internacional (Italy, 82.9), Enaitinere SAU (Spain, 61.4), Ibereolica Solar Olivenza SL (Spain, 29.9), Itinere
Infraestructuras (Spain, 57.9), Parque Eolico La Boga (Spain, 20.9), Renovalia Energy (Spain, 27.6), Sociedade

70 Project Finance International January 25 2017

 2016 LEAGUE TABLES

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals
Concesionaria Novo (Spain, 30.4), Thermasol Extremadura Solar (Spain, 45.1), Vortex II Sarl (Spain, 76.9)
64 China Construction Bank 402.1 0.3 2 DEWA Coal (Utd Arab Em, 261.1), Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
65 Bank Muscat 398.3 0.3 4 Ibri Mega Gas Fired (Oman, 73.7), Liwa Plastics Plant (Oman, 204.1), Sohar Independent Water (Oman, 53.3), Sohar Mega
Gas Fired (Oman, 67.3)
66 Ziraat Bankasi 396.5 0.3 2 Asagi Kalekoy Hydro Power (Turkey, 250.0), Kadincik I-II HEPPs Acq (Turkey, 146.5)
67 Investec 395.8 0.3 4 Bluefield Solar Income Fund (United Kingdom, 106.1), Edinburgh/Midlothian Waste PFI (United Kingdom, 47.3), Kathu
Concentrated Solar (South Africa, 153.6), Kemsley Combined Heat and (United Kingdom, 88.8)
68 Cassa Depositi e Prestiti 391.3 0.3 3 Liwa Plastics Plant (Oman, 204.1), Nice Cote d Azur (France, 142.7), Societa Aeroporto Catania (Italy, 44.5)
69 AK Bank 371.5 0.3 2 Almatis (Netherlands, 225.0), Kadincik I-II HEPPs Acq (Turkey, 146.5)
=70 Bank Al Bilad 369.5 0.3 1 Yanbu Aramco Sinopec Refining (Saudi Arabia, 369.5)
=70 Riyadh Bank 369.5 0.3 1 Yanbu Aramco Sinopec Refining (Saudi Arabia, 369.5)
72 Bank Dhofar 357.5 0.3 4 Ibri Mega Gas Fired (Oman, 73.7), Liwa Plastics Plant (Oman, 163.2), Sohar Independent Water (Oman, 53.3), Sohar Mega
Gas Fired (Oman, 67.3)
73 Korea Development Bank 337.6 0.3 3 Bahrain LNG Import Terminal (Bahrain, 83.1), Liwa Plastics Plant (Oman, 204.1), Teesside [MGT Power] (UK, 50.4)
74 Unione di Banche Italiane 331.7 0.3 6 Apulia 5 Solar Portfolio (Italy, 12.1), Autostrada Pedemontana (Italy, 44.1), ForVEI (Italy, 63.8), Ital Gas Storage (Italy, 112.3),
SGI Gas Network (Italy, 63.1), Sonnedix Solar PV Portfolio (Italy, 36.3)
75 VTB Capital 331.4 0.3 2 Arctic Tanker for Yamal LNG (Russian Fed, 260.0), Gissar Project [Lukoil] (Uzbekistan, 71.4)
76 Bank Nederlandse Gemeenten 323.8 0.3 5 Beatrix Lock Expansion (Netherlands, 82.7), Brabo 1 Tram System (Belgium, 91.2), Hart Van Zuid Regeneration
(Netherlands, 34.2), N18 Motorway (Netherlands, 45.0), Soesterberg Museum (Netherlands, 70.7)
77 First Gulf Bank 323.6 0.3 2 DEWA Coal (Utd Arab Em, 261.1), ENEC Barakah One Nuclear Power (Utd Arab Em, 62.5)
78 Turkiye Is Bankasi 316.7 0.3 3 Aydin - Marding 2 Global (Turkey, 15.0), Eskisehir City Hospital (Turkey, 155.3), Kadincik I-II HEPPs Acq (Turkey, 146.5)
79 BMPS 311.8 0.3 9 Apulia 5 Solar Portfolio (Italy, 12.1), Apulia Solar PV Asts (Italy, 23.4), Ascoli Satriano Wind Park (Italy, 21.9), Autostrada
Pedemontana (Italy, 44.1), Celano Green Energy (Italy, 23.1), Italy Four HydroElec Plants (Italy, 8.5), Nice Cote d Azur
(France, 142.7), Piedmont-Lombardy Four Solar (Italy, 7.9), Sthrn Italy Three Wind Farms (Italy, 28.1)
80 Unicaja 309.1 0.3 7 Abertis Internacional (Italy, 82.9), Andasol 1 & 2 Solar Thermal (Spain, 52.3), Enaitinere SAU (Spain, 61.4), Itinere
Infraestructuras (Spain, 57.9), Noatum Container Terminal (Spain, 13.8), Parque Eolico La Boga (Spain, 20.9), Serranopark
(Spain, 20.0)
81 Gulf International Bank 303.1 0.3 2 Alum Bahrain Sixth Potline (Bahrain, 214.3), Kemsley Combined Heat and (United Kingdom, 88.8)
82 Al-Ahli United Bank 293.9 0.2 2 Alum Bahrain Sixth Potline (Bahrain, 214.3), Bahrain LNG Import Terminal (Bahrain, 79.7)
83 Landesbank Hessen-Thueringen 287.9 0.2 5 Andasol 1 & 2 Solar Thermal (Spain, 52.3), Fifth Bundle of Schools (Ireland-Rep, 53.8), Fixed Wing Training [MFTS] (United
Kingdom, 49.6), Fotowatio Renewable Ventures (Spain, 13.3), Ital Gas Storage (Italy, 119.0)
84 DGZ-DekaBank 285.0 0.2 4 A6 Hollandse brug en Almere (Netherlands, 56.3), A94 Motorway Extension (Germany, 68.1), Beatrix Lock Expansion
(Netherlands, 82.7), Tellenes Wind Farm (Norway, 77.9)
85 Landesbank Baden-Wurttemberg 282.3 0.2 6 Ed Zueblin AG (Germany, 45.6), Hegauwind GmbH & Co WindPk (Germany, 16.5), Monaco I Gas Pipeline (Germany, 47.7),
Pirttiselka Tuulipuisto Oy (Finland, 28.9), SAAone (Netherlands, 104.8), SunPort Delfzijl (Netherlands, 38.9)
=86 Agricultural Bank of China 261.1 0.2 1 DEWA Coal (Utd Arab Em, 261.1)
=86 State Bank of India 261.1 0.2 1 DEWA Coal (Utd Arab Em, 261.1)
=86 Union National Bank of UAE 261.1 0.2 1 DEWA Coal (Utd Arab Em, 261.1)
89 DZ Bank 260.5 0.2 5 A27/A1 Motorway (Netherlands, 73.0), A94 Motorway Extension (Germany, 68.1), Fraisthorpe Wind Farm (United Kingdom,
34.1), NACCO Materials Handling Group (United Kingdom, 33.6), Sheffield Road Maintenance PFI (United Kingdom, 51.7)
=90 BMO Capital Markets 215.0 0.2 1 Lundin Petroleum AB (Norway, 215.0)
=90 Old Mutual 215.0 0.2 1 Lundin Petroleum AB (Norway, 215.0)
=90 Wells Fargo 215.0 0.2 1 Lundin Petroleum AB (Norway, 215.0)
=93 BBK BSC 214.3 0.2 1 Alum Bahrain Sixth Potline (Bahrain, 214.3)
=93 National Bank of Bahrain 214.3 0.2 1 Alum Bahrain Sixth Potline (Bahrain, 214.3)
95 Bank of America Merrill Lynch 209.2 0.2 2 Alpha Trains Emil Sarl (Germany, 21.8), Borealis Swedish Electricity (Sweden, 187.4)
96 Banco Portugues Investimento 208.6 0.2 7 BIF Portugal (Portugal, 37.8), Brookfield Renewable Energy (Portugal, 38.7), Enaitinere SAU (Spain, 61.4), Fotowatio
Renewable Ventures (Spain, 13.3), Parque Eolico La Boga (Spain, 20.9), Renovalia Energy (Spain, 27.6), Vilar do Monte
Hydropower (Portugal, 8.9)
97 Bpifrance 193.9 0.2 6 Boralex Three Wind Farms (France, 55.8), Fonroche Energie SAS (France, 37.6), Holding De Participation Dans (France,
40.0), Martinique Solar Portfolio (France, 21.8), Novillars Biomass Power (France, 14.2), Photosol Solar Photovoltaic
(France, 24.5)
98 Rand Merchant Bank 185.1 0.2 2 Kathu Concentrated Solar (South Africa, 153.6), Onne Multi Purpose Port (Nigeria, 31.5)
99 OP-Pohjola Group Central Coop 182.9 0.2 1 Suomi Power Networks Oy (Sweden, 182.9)
100 Liberbank SA 174.7 0.1 5 Enaitinere SAU (Spain, 61.4), Fotowatio Renewable Ventures (Spain, 13.3), Itinere Infraestructuras (Spain, 57.9), Renovalia
Energy (Spain, 27.6), Sol de Alconchel SL (Spain, 14.5)
101 Nedbank Capital 153.6 0.1 1 Kathu Concentrated Solar (South Africa, 153.6)
102 Banesco Banco Universal 153.2 0.1 5 Autopista Central Gallega (Spain, 26.5), Enaitinere SAU (Spain, 61.4), Ibereolica Solar Moron SL (Spain, 30.0), Parque
Eolico La Boga (Spain, 20.9), Sol de Alconchel SL (Spain, 14.5)
103 Emerging Africa Infrastructure 148.8 0.1 6 Acess Uganda Solar 10MW Plant (Uganda, 10.7), Helios Towers DRC (Dem Rep Congo, 35.0), Kissy District Heavy Fuel Oil
(Sierra Leone, 54.5), Lubilia Kawembe Run of the (Uganda, 10.2), Siti II Hydro Power (Uganda, 23.7), Tororo Solar
(Uganda, 14.7)
=104 Turkiye Vakiflar Bankasi 146.5 0.1 1 Kadincik I-II HEPPs Acq (Turkey, 146.5)

Project Finance International January 25 2017 71

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED
Lead manager Volume (US$m) % No of deals Deals

=104 Yapi Ve Kredi Bankasi 146.5 0.1 1 Kadincik I-II HEPPs Acq (Turkey, 146.5)
106 National Bank of Abu Dhabi 144.7 0.1 3 Al Wathba Al Allahamah (Utd Arab Em, 57.5), ENEC Barakah One Nuclear Power (Utd Arab Em, 62.5), Steel Pipeline
Manufacturing (Utd Arab Em, 24.7)
107 Kutxabank 143.1 0.1 3 BBG (Spain, 23.9), Enaitinere SAU (Spain, 61.4), Itinere Infraestructuras (Spain, 57.9)
=108 Bank of Communications 140.9 0.1 1 Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
=108 Credit Suisse 140.9 0.1 1 Yanbu Aramco Sinopec Refining (Saudi Arabia, 140.9)
110 Banca Popolare Emilia Romagna 134.9 0.1 5 Burgentia Energia (Italy, 8.2), Celano Green Energy (Italy, 23.1), Daunia Wind (Italy, 67.6), Italy Four HydroElec Plants (Italy,
8.5), PLT Energia (Italy, 27.5)
=111 Commercial Bank of Qatar 133.3 0.1 1 Ras Abu Fontas 3 Desalination (Qatar, 133.3)
=111 Masraf Al Rayan 133.3 0.1 1 Ras Abu Fontas 3 Desalination (Qatar, 133.3)
113 ASN Bank 129.4 0.1 2 Rentel Offshore Wind Farm (Belgium, 103.3), Toul Photovoltaic Solar (France, 26.0)
114 Arab National Bank 128.1 0.1 1 Rabigh Independent Power (Saudi Arabia, 128.1)
115 Arzan Finl Group 118.1 0.1 2 Fotowatio Solar PV (Jordan, 60.0), Transgabonais Rail Network (Gabon, 58.1)
116 Raiffeisen Bank International 111.4 0.1 2 Gissar Project [Lukoil] (Uzbekistan, 71.4), Gunvor Petroleum Rotterdam (Netherlands, 40.0)
=117 Bankinter 103.7 0.1 2 Abertis Internacional (Italy, 82.9), Parque Eolico La Boga (Spain, 20.9)
=117 Erste Group 103.7 0.1 2 Austria Gas Connect Stake Acq (Austria, 80.8), Energiepark Bruck Wind Parks (Austria, 23.0)
=119 Commercial Intl Bank 102.0 0.1 1 Sokhna Port Bulk Liquid (Egypt, 102.0)
=119 Shinsei Bank 102.0 0.1 2 Sheffield Road Maintenance PFI (United Kingdom, 51.7), Teesside [MGT Power] (United Kingdom, 50.4)
121 Development Bank of Japan 100.5 0.1 2 Newcastle Airport Refinancing (United Kingdom, 50.1), Teesside [MGT Power] (United Kingdom, 50.4)
122 Handelsbanken Capital Markets 99.8 0.1 1 Manchester Airport Group (United Kingdom, 99.8)
123 Caja de Ahorros y M Zaragoza 82.3 0.1 2 Enaitinere SAU (Spain, 61.4), Parque Eolico La Boga (Spain, 20.9)
124 Caterpillar Financial Services 80.0 0.1 1 Fekola Mine Project (Mali, 80.0)
125 Banco Mare Nostrum 78.8 0.1 2 Itinere Infraestructuras (Spain, 57.9), Parque Eolico La Boga (Spain, 20.9)
126 Macquarie Group 77.9 0.1 1 NextEnergy Solar Fund (United Kingdom, 77.9)
127 Bank of Ireland 77.1 0.1 1 N17/N18 Gort-Tuam (Ireland-Rep, 77.1)
128 Caisse Nationale de Prevoyance 76.3 0.1 2 A41 Toll Motorway (France, 68.4), Lyon Broadband Network Project (France, 7.9)
129 Alpha Bank 72.4 0.1 2 St George Island Wind Farm (Greece, 33.1), St George Island Wind Farm (Greece, 39.3)
130 Allied Irish Banks 70.5 0.1 2 Country Kilkenny Ballybay and (Ireland-Rep, 42.8), Falcon Acquisitions (United Kingdom, 27.7)
131 Credito Valtellinese 67.7 0.1 3 Apulia 5 Solar Portfolio (Italy, 12.1), PLT Energia SpA (Italy, 27.5), Sthrn Italy Three Wind Farms (Italy, 28.1)
132 Caixa dEstalvis de Catalunya 65.7 0.1 4 Andasol 1 & 2 Solar Thermal (Spain, 52.3), Chumillas Wind Farm (Spain, 4.8), Eolica Renovables de (Spain, 4.3), Wiesa 6
SL (Spain, 4.2)
=133 International Investment Bank 65.0 0.1 1 Two Beloporozhskaya Hydro (Russian Fed, 65.0)
=133 Yevraziyskiy Bank 65.0 0.1 1 Two Beloporozhskaya Hydro (Russian Fed, 65.0)
135 Portigon 59.8 0.1 2 Ibereolica Solar Moron SL (Spain, 30.0), Ibereolica Solar Olivenza SL (Spain, 29.9)
136 GE Capital 58.7 0.1 1 Cordal Wind Farm (Ireland-Rep, 58.7)
137 Banca Popolare di Milano 58.4 0.1 2 Autostrada Pedemontana (Italy, 44.1), Maccaferri Biogas Power Plant (Italy, 14.4)
=138 Banco Grupo Cajatres SA 57.9 0.1 1 Itinere Infraestructuras (Spain, 57.9)
=138 Novacaixagalicia 57.9 0.1 1 Itinere Infraestructuras (Spain, 57.9)
140 ICCREA 57.6 0.1 3 Ascoli Satriano Wind Park (Italy, 21.9), Burgentia Energia (Italy, 8.2), PLT Energia SpA (Italy, 27.5)
141 CDC Group 54.5 0.0 1 Kissy District Heavy Fuel Oil (Sierra Leone, 54.5)
=142 Oman Arab Bank 53.3 0.0 1 Sohar Independent Water (Oman, 53.3)
=142 Sohar Bank 53.3 0.0 1 Sohar Independent Water (Oman, 53.3)
144 Dexia 52.3 0.0 1 Andasol 1 & 2 Solar Thermal (Spain, 52.3)
=145 Bank Nizwa SAOC 50.0 0.0 1 Azoti (Georgia, 50.0)
=145 East-West United Bank 50.0 0.0 1 Al Wusta Block 7 Oil Field (Oman, 50.0)
147 Triodos Bank 45.7 0.0 4 Castledockrell Wind Group (Ireland-Rep, 3.0), Gori Wind Farm (Georgia, 4.0), Mean Moor Wind Scheme (United Kingdom,
12.7), Toul Photovoltaic Solar (France, 26.0)
=148 Banco do Brasil 39.3 0.0 1 St George Island Wind Farm (Greece, 39.3)
=148 National Bank of Greece 39.3 0.0 1 St George Island Wind Farm (Greece, 39.3)
150 Alior Bank 38.0 0.0 2 Banie Wind Farm (Poland, 15.0), Banie Wind Farm (Poland, 23.0)
151 Desjardins 35.5 0.0 2 San Patrick Wind Portfolio (France, 23.9), Touvent Greenfield Wind Farms (France, 11.6)
=152 Deutsche Investitions- und 35.0 0.0 1 Helios Towers DRC (Dem Rep Congo, 35.0)
=152 Standard Bank 35.0 0.0 1 Helios Towers DRC (Dem Rep Congo, 35.0)
154 Turkiye Halk Bankasi 34.5 0.0 1 TAV Macedonia (Macedonia, 34.5)
155 EFG Group 33.1 0.0 1 St George Island Wind Farm (Greece, 33.1)
156 Banca Popolare di Bari 30.5 0.0 1 Foggia Biomass Power (Italy, 30.5)
157 BGEO Group 30.0 0.0 1 Azoti (Georgia, 30.0)
158 Banco Cooperativo Espanol 29.9 0.0 1 Ibereolica Solar Olivenza SL (Spain, 29.9)
159 Kommunekredit 26.5 0.0 1 Autopista Central Gallega (Spain, 26.5)
160 BGFI Holding 26.0 0.0 1 Gaz du Cameroun (Cameroon, 26.0)

72 Project Finance International January 25 2017

 2016 LEAGUE TABLES

EMEA INITIAL MANDATED LEAD ARRANGERS CONTINUED

Lead manager Volume (US$m) % No of deals Deals
161 Banco Ceiss 25.2 0.0 2 Eolica Renovables de (Spain, 4.3), Parque Eolico La Boga (Spain, 20.9)
162 Bank Ochrony Srodowiska 15.0 0.0 1 Banie Wind Farm (Poland, 15.0)
=163 Cajasur 13.3 0.0 1 Fotowatio Renewable Ventures (Spain, 13.3)
=163 Morgan Stanley 13.3 0.0 1 Fotowatio Renewable Ventures (Spain, 13.3)
165 European Arab Bank 12.0 0.0 1 Fotowatio Solar PV (Jordan, 12.0)
166 Banca di Credito Cooperativo 8.2 0.0 1 Burgentia Energia (Italy, 8.2)
167 Caixa Geral de Depositos 8.0 0.0 1 Lisbon Cruise Terminal LDA (Portugal, 8.0)
168 Oikocredit International 4.0 0.0 1 Gori Wind Farm (Georgia, 4.0))
Total* 123,312.5 100.0 387
*Proportional Credit

Source: Thomson Reuters

EMEA LOANS BY COUNTRY

Nation US$m % No of deals Nation US$m % No of deals

Russian Federation 19,081.2 15.5 12 Portugal 600.1 0.5 5

United Kingdom 18,141.4 14.7 72
Saudi Arabia 7,965.3 6.5 3
France 6,919.0 5.6 57
Sweden 6,369.8 5.2 9
Spain 6,002.4 4.9 36
Oman 5,919.5 4.8 8
Italy 5,006.3 4.1 35
Norway 4,948.7 4.0 7
Germany 4,049.4 3.3 21
Kuwait 3,980.0 3.2 1
Netherlands 3,968.7 3.2 16
Turkey 3,446.6 2.8 17
United Arab Emirates 3,130.2 2.5 4
Belgium 3,113.5 2.5 8
Kazakhstan 3,000.0 2.4 1
Qatar 2,965.0 2.4 2
Ghana 2,435.0 2.0 3
Bahrain 2,241.1 1.8 2
Republic of Ireland 1,458.3 1.2 16
Slovak Republic 1,077.8 0.9 1
Jordan 968.9 0.8 7
Finland 951.9 0.8 5
Guinea 823.0 0.7 1
South Africa 644.3 0.5 2
Uzbekistan 500.0 0.4 1
Gabon 434.0 0.4 2
Austria 432.1 0.4 3
Egypt 340.5 0.3 1
Croatia 284.6 0.2 1
Tanzania 258.8 0.2 1
Greece 204.1 0.2 3
Mali 200.0 0.2 1
Iceland 191.5 0.2 2
Nigeria 180.0 0.2 2
Georgia 177.0 0.1 2
Guernsey 143.7 0.1 1
Poland 131.8 0.1 2
Sierra Leone 109.0 0.1 1
Dem Rep of the Congo 105.0 0.1 1
Lesotho 84.0 0.1 1
Denmark 72.7 0.1 1
Macedonia 69.0 0.1 1
Senegal 60.7 0.1 2
Uganda 59.3 0.1 4
Lithuania 41.3 0.0 2
Cameroon 26.0 0.0 1
Total 123,312.5 387

EMEA LOANS BY SECTOR

Sector Volume (US$m)

Power 46,986.8
Oil & Gas 28,385.9
Transportation 18,370.6
Petrochemicals 13,244.7
Industry 5,050.8
Leisure & Property 4,547.6
Mining 3,503.0
Water & Sewerage 1,484.7
Telecommunications 942.8
Waste & Recycling 795.6
Total 123,312.5

Project Finance International January 25 2017 73

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 2016 LEAGUE TABLES

NON RECOURSE PROJECT BONDS

Lead manager No of deals Volume (US$m) Deals Country Sector US$m
1 Citigroup 16 3,773.1 Thames Gateway Greenfield Port United Kingdom Transportation 819.2
Aes Andres BV Dominican Republic Power 181.3
Tocumen International Airport Panama Transportation 575.0
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
Mexico City Airport Trust Mexico Transportation 395.3
DEA Finance SA United Kingdom Oil & Gas 64.3
Delhi Intl Airport Pvt Ltd India Transportation 65.3
CED Alamo 7 LLC United States Power 108.9
CED California Holdings 3 LLC United States Power 47.5
Texas Pte Activity Bond United States Transportation 149.3
New York Transportation Dev Corp United States Transportation 75.0
Caruna Networks Finland Power 306.8
Caruna Networks USPP Finland Power 182.0
Cross Texas Transmission United States Power 100.0
Transurban Finance Co Pty Ltd Australia Transportation 88.3
Natgasoline LLC United States Oil & Gas 532.2)
2 RBC Capital Markets 17 3,572.7 TransEd Partners GP Canada Transportation 87.4
Grand Renewable Solar LP Canada Power 468.0
Plenary Roads Winnipeg GP Canada Transportation 47.3
Kingston Solar LP Canada Power 479.1
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Bazalgette Finance Plc United Kingdom Water & Sewerage 72.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
EVG Thueringen Gas Grid Acq Germany Oil & Gas 240.0
Purple Line Transit Partners LLC United States Transportation 75.4
Caruna Networks USPP Finland Power 182.0
NT Airports Australia Transportation 113.0
Skyway Concession Co LLC United States Transportation 975.0
Trans Bay Cable United States Power 186.0
NSW Electricity Networks Finance Australia Power 252.1)
3 Societe Generale 15 2,243.1 NEW ROSS N25 Ireland Transportation 158.0
TDF Infrastructure SAS France Telecommunications 451.0
Concessioni Autostradali Venete Italy Transportation 189.0
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
DEA Finance SA United Kingdom Oil & Gas 64.3
Seine et Marne Broadband France Telecommunications 331.9
N17/N18 Gort-Tuam PPP Ireland Transportation 166.8
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
Alsace Broadband France Telecommunications 36.7
A41 Toll Road France Transportation 218.0
IE2 Holdco Spain Power 149.5
4 Mitsubishi UFJ 15 2,066.8 FLNG Liquefaction 2 LLC United States Oil & Gas 150.0
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
TanQuid Zweite GmbH & Co KG Germany Transportation 46.4
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Delhi Intl Airport Pvt Ltd India Transportation 65.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
AIA Colchis LLC United States Power 72.5
AIA Colchis LLC United States Power 72.5
Alta Wind VIII LLC United States Power 105.0
Virginia International Gateway United States Power 700.0
Eversholt Rail United Kingdom Transportation 125.0
NSW Electricity Networks Finance Australia Power 252.1)

Project Finance International January 25 2017 75

NON RECOURSE PROJECT BONDS CONTINUED
Lead manager No of deals Volume (US$m) Deals Country Sector US$m
5 HSBC 16 1,906.3 New Richmond Wind LP Canada Power 61.2
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Autoroute de Liaison Seine-Sarthe [Alis] France Transportation 474.9
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Mexico City Airport Trust Mexico Transportation 395.2
Delhi Intl Airport Pvt Ltd India Transportation 65.3
Elazig Hospital PPP Turkey Leisure & Property 305.2
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
Elenia Finance Finland Power 27.3
Elenia Finance Finland Power 15.4
Elenia Finance Finland Power 16.8
Elenia Finance Finland Power 52.7
Elenia Finance Finland Power 14.1
6 RBS 11 1,660.1 Concessioni Autostradali Italy Transportation 189.0
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Bluefield Solar Income Fund United Kingdom Power 119.2
Ellevio Sverige AB Sweden Power 677.0
Elenia Finance Finland Power 27.3
Caruna Networks Finland Power 306.8
Elenia Finance Finland Power 15.4
Elenia Finance Finland Power 16.8
Elenia Finance Finland Power 52.7
Elenia Finance Finland Powe 14.1
Caruna Networks 2 Finland Power 185.0
7 BNP Paribas 9 1,649.4 TDF Infrastructure SAS France Telecommunications 451.0
Concessioni Autostradali Venete Italy Transportation 189.0
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Andasol 1 Spain Power 50.9
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
Sonnedix Solar PV Portfolio Italy Power 53.0
Caruna Networks Finland Power 306.8
Caruna Networks 2 Finland Power 185.0
IE2 Holdco Spain Power 149.5
8 JP Morgan 11 1,635.4 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Mexico City Airport Trust Mexico Transportation 395.3
Delhi Intl Airport Pvt Ltd India Transportation 65.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
Purple Line Transit Partners LLC United States Transportation 75.4
Kansas Central District United States Leisure & Property 327.0
BAHIA SUL Hldg GmbH Brazil Industry 99.1
NSW Electricity Networks Finance Australia Power 252.1
9 Santander 9 1,525.6 Renovalia Energy SA-Wind Farm Mexico Power 25.2
Ausol Spain Transportation 573.6
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Mexico City Airport Trust Mexico Transportation 395.3
Enaitinere SAU Spain Transportation 165.3
Celeo Fotovoltaico SA Spain Power 43.7
BaHIA SUL Hldg GmbH Brazil Industry 99.1
10 Goldman Sachs 10 1,450.4 FLNG Liquefaction 2 LLC United States Oil & Gas 150.0
Fideicomiso PA Pacifico Tres Colombia Transportation 255.4
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Fideicomiso PA Costera Colombia Transportation 252.9
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Delhi Intl Airport Pvt Ltd India Transportation 65.3

76 Project Finance International January 25 2017

 2016 LEAGUE TABLES

NON RECOURSE PROJECT BONDS CONTINUED

Lead manager No of deals Volume (US$m) Deals Country Sector US$m
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
UC Merced United States Leisure & Property 331.5
11 Deutsche Bank 8 1,302.2 Vela Energy Finance SA Spain Power 227.9
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Autoroute de Liaison Seine-Sarthe [Alis] France Transportation 474.9
DEA Finance SA United Kingdom Oil & Gas 64.3
Delhi Intl Airport Pvt Ltd India Transportation 65.3
Moncloa and Plaza Eliptica Trans Hub Spain Transportation 210.2
Spex PV Plants Refinancing Spain Power 120.1
12 Credit Suisse 10 1,165.0 China Datang Corp Renewable China Power 37.1
FLNG Liquefaction 2 LLC United States Oil & Gas 150.0
Aes Andres BV Dominican Republic Power 181.3
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Kallpa Generacion SA Peru Oil & Gas 86.9
CVR Partners LP United States Petrochemicals 314.4
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8)
13 TD Securities 7 1,151.4 NorthWest Redwater Partnership Canada Petrochemicals 315.7
Plenary Roads Winnipeg GP Canada Transportation 47.3
Mountain View Partners GP Canada Transportation 144.7
PLENARY INFRASTRUCTURE ERMF Canada Transportation 43.2
Plenary Health Vaughan LP Canada Leisure & Property 212.4
Boralex Inc Canada Power 56.6
UC Merced United States Leisure & Property 331.5
14 SMBC 9 1,150.7 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Poinsettia Finance Ltd Mexico Oil & Gas 132.7
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
State Street Redevelopment United States Leisure & Property 40.0
Safe Harbor Hydro United States Power 500.0
15 Bank of America Merrill Lynch 5 1,015.5 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
Ellevio Sverige AB Sweden Power 677.0
16 Credit Agricole 9 869.6 FLNG Liquefaction 2 LLC United States Oil & Gas 150.0
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Poinsettia Finance Ltd Mexico Oil & Gas 132.7
TanQuid Zweite GmbH & Co KG Germany Transportation 46.4
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
DEA Finance SA United Kingdom Oil & Gas 64.3
Voltalia Sao Miguel do Gostoso Brazil Power 15.5
Alpha Trains Finance SA Germany Transportation 87.8
IE2 Holdco Spain Power 149.5
17 ING 9 795.5 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
DEA Finance SA United Kingdom Oil & Gas 64.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
Enaitinere SAU Spain Transportation 165.3
Alpha Trains Finance SA Germany Transportation 87.8
18 Scotiabank 9 775.6 TransEd Partners GP Canada Transportation 87.4
New Richmond Wind LP Canada Power 61.3
Mountain View Partners GP Canada Transportation 144.7
Cheniere Corpus Christi Hldg United States Oil & Gas 78.1

Project Finance International January 25 2017 77

NON RECOURSE PROJECT BONDS CONTINUED
Lead manager No of deals Volume (US$m) Deals Country Sector US$m
Kallpa Generacion SA Peru Oil & Gas 86.9
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
19 DC Capital 1 732.0 Rock Rail United Kingdom Transportation 732.0
20 SEB 3 663.8 Fosen & Snillfjord Wind Farm Portfolio Norway Power 172.0
Caruna Networks Finland Power 306.8
Caruna Networks 2 Finland Power 185.0
21 Macquarie Group 3 663.5 NextEnergy Solar Fund Ltd United Kingdom Power 180.5
Foresight Group United Kingdom Power 227.9
Amsterdam Courthouse PPP Netherlands Leisure & Property 255.1
22 Morgan Stanley 7 630.2 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Kallpa Generacion SA Peru Oil & Gas 86.9
Bazalgette Finance Plc United Kingdom Water & Sewerage 72.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Poinsettia Finance Ltd Mexico Oil & Gas 132.7
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
23 BBVA 4 618.7 Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Mexico City Airport Trust Mexico Transportation 395.3
24 Mizuho Financial 7 610.7 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Poinsettia Finance Ltd Mexico Oil & Gas 132.7
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8
25 Barclays 5 601.6 FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Plenary Civic Center Finco LP United States Leisure & Property 239.1
CED Alamo 7 LLC United States Power 108.9
CED California Holdings 3 LLC United States Power 47.5
Texas Pte Activity Bond United States Transportation 149.3
26 Pareto Securities 2 601.5 P/F Eystur-og Sandoyartunlar Denmark Transportation 381.5
Ribera Del Duero Knutsen LNG Norway Oil & Gas 220.0
27 UniCredit 5 488.3 Concessioni Autostradali Venete Italy Transportation 189.0
Tengizchevroil Finance S.ar.1. Kazakhstan Petrochemicals 82.7
DEA Finance SA United Kingdom Oil & Gas 64.3
Pansuevia GmbH & co. KG Germany Transportation 90.5A
6 Baden Wuerttemburg Road Germany Transportation 61.8
28 Aviva 3 476.4 GCP Infrastructure Invest Ltd United Kingdom Power 85.6
Yorkshire Priority Schools United Kingdom Leisure & Property 186.8
Westermost OFTO United Kingdom Power 204.0
29 Malayan Banking 2 467.1 Ekve Sdn Bhd Malaysia Transportation 241.0
Lebuhraya Duke Fasa 3 Sdn Bhd Malaysia Transportation 226.1
=30 CIBC World Markets 3 455.8 NorthWest Redwater Partnership Canada Petrochemicals 315.6
Lower Mattagami Energy LP Canada Power 83.4
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8)
=30 BMO Capital Markets 3 455.8 NorthWest Redwater Partnership Canada Petrochemicals 315.6
Lower Mattagami Energy LP Canada Power 83.4
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8)
32 National Bank of Canada Finl 1 437.4 Sea-to- Sky Highway Canada Transportation 437.4
33 Lloyds Bank 5 395.3 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3F
LNG Liquefaction 2 LLC United States Oil & Gas 56.8
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8)
34 UBS 2 402.2 CVR Partners LP United States Petrochemicals 314.4
Alpha Trains Finance SA Germany Transportation 87.8
35 Natixis 4 304.3 FLNG Liquefaction 2 LLC United States Oil & Gas 56.8

78 Project Finance International January 25 2017

 2016 LEAGUE TABLES

NON RECOURSE PROJECT BONDS CONTINUED

Lead manager No of deals Volume (US$m) Deals Country Sector US$m
DEA Finance SA United Kingdom Oil & Gas6 4.3
Sonnedix Solar PV Portfolio Italy Power 53.0
Brainwave Solar PV Portfolio France Power 130.2
36 Standard Chartered 4 294.0 Cheniere Corpus Christi Hldg United States Oil & Gas 78.1
FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
Delhi Intl Airport Pvt Ltd India Transportation 65.3
Cheniere Corpus Christi Hldg United States Oil & Gas 93.8)
37 Intesa Sanpaolo 2 271.7 Concessioni Autostradali Venete Italy Transportation 189.0
Tengizchevroil Finance S.ar.1 Kazakhstan Petrochemicals 82.7)
38 Operis 1 264.0 Moorgate United Kingdom Transportation 264.0
39 CaixaBank 1 227.9 Vela Energy Finance SA Spain Power 227.9
40 AMMB Holdings 1 226.1 Lebuhraya Duke Fasa 3 Sdn Bhd Malaysia Transportation 226.1
=40 CIMB Group Sdn Bhd 1 226.1 Lebuhraya Duke Fasa 3 Sdn Bhd Malaysia Transportation 226.1
=40 RHB 1 226.1 Lebuhraya Duke Fasa 3 Sdn Bhd Malaysia Transportation 226.1
=43 Bank of Philippine Islands 1 196.0 SN Aboitiz Power-Magat Inc Philippines Power 196.0
=43 China Banking Corp 1 196.0 SN Aboitiz Power-Magat Inc Philippines Power 196.0
45 IFM 1 170.0 Lane Cove Refinancing Australia Transportation 170.0
46 ABN AMRO Bank 2 166.6 Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
Sabine Pass Liquefaction LLC United States Oil & Gas 83.3
=47 TIAA 1 127.7 Comprehensive Cancer Centre Australia Leisure & Property 127.7
=47 Manulife 1 127.7 Comprehensive Cancer Centre AustraliaLeisure & Property 127.7
=47 MassMutual 1 127.7 Comprehensive Cancer Centre Australia Leisure & Property 127.7)
50 Commonwealth Bank of Australia 1 125.0 Eversholt Rail United Kingdom Transportation 125.0
51 Investec 1 119.2 Bluefield Solar Income Fund United Kingdom Power 119.2)
52 Nordea 1 108.0 Ellevio Sverige AB Sweden Power 108.0
53 Assured Guaranty 1 106.1 University Partnership Programme United Kingdom Leisure & Property 106.1
[UPP] Portfolio Refinancing
54 Rubicon 1 106.0 Autopista Central Gallega Spain Transportation 106.0
55 Great WestLife 1 100.0 Penticton Hospital Canada Leisure & Property 100.0
=56 Banco Bradesco 1 99.1 BaHIA SUL Hldg GmbH Brazil Industry 99.1
=56 Banco do Brasil SA 1 99.1 BaHIA SUL Hldg GmbH Brazil Industry 99.1
=56 Itau Unibanco 1 99.1 BaHIA SUL Hldg GmbH Brazil Industry 99.1
59 Allianz 1 96.4 UPP [Byron House] Ltd United Kingdom Leisure & Property 96.4
60 Casgrain & Companie Ltee 1 87.4 TransEd Partners GP Canada Transportation 87.4
61 Credicorp 1 86.9 Kallpa Generacion SA Peru Oil & Gas 86.9
62 Corporacion Actinver Sab 1 82.8 Concesionaria Autopista Mexico Transportation 82.8
63 Bank of China 1 82.7 Tengizchevroil Finance S.ar.1 .Kazakhstan Petrochemicals 82.7
64 Wells Fargo 1 75.0 New York Transportation Dev Corp United States Transportation 75.0
65 Axis Bank 1 65.3 Delhi Intl Airport Pvt Ltd India Transportation 65.3
66 Bankia 1 61.3 Autovia del Noroeste Spain Transportation 61.3
67 ICBC 1 56.8 FLNG Liquefaction 2 LLC United States Oil & Gas 56.8
68 Nord/LB 1 55.5 Finsterwalde II/III solar PV Germany Power 55.5
69 Banco de Sabadell 1 50.9 Andasol 1 Spain Power 50.9
70 Prudential 1 50.0 TEN Transmission United States Power 50.0
71 Commerzbank 1 46.4 TanQuid Zweite GmbH & Co KG Germany Transportation 46.4
72 Huatai Securities 1 37.1 China Datang Corp Renewable China Power 37.1
73 Acofi 1 27.7 Fonroche Energie SAS France Power 27.7
=74= CIMD 1 25.6 Globasol Villanueva 1 SA Spain Power 25.6
=74 General de Valores y Cambios 1 25.6 Globasol Villanueva 1 SA Spain Power 25.6
76 Novatio 1 25.4 Foresight United Kingdom Power 25.4
=77 Banco Espirito Santo SA 1 25.2 Renovalia Energy SA-Wind Farm Mexico Power 25.2
=77 Bancomext 1 25.2 Renovalia Energy SA-Wind Farm Mexico Power 25.2
=77 Fondo Nacional Infraestructura 1 25.2 Renovalia Energy SA-Wind Farm Mexico Power 25.2
=77 Nacional Financiera 1 25.2 Renovalia Energy SA-Wind Farm Mexico Power 25.2
=81 Foresight Financial Services 1 22.2 Zhongli Talesun Solar Co Ltd Italy Power 22.2
=81 Indep Debt Capital Markets LLP 1 22.2 Zhongli Talesun Solar Co Ltd Italy Power 22.2)
Total 43,608.2

Project Finance International January 27 2016 79

 BONDS BY COUNTRY BONDS BY SECTOR
Sector Volume (US$m) No of deals Sector Volume (US$m) No of deals

United States 13,653.2 25 Transportation 15,302.9 40

United Kingdom 4,010.2 15 Power 10,991.9 48
Canada 3,678.8 13 Oil&Gas 9,920.4 12
Mexico 2,716.0 4 Leisure & Property 2,914.5 12
France 2,596.3 7 Petrochemicals 2,568.6 3
Finland 2,398.5 8 Telecomunications 1,270.5 3
Spain 2,502.6 11 Industry 495.3 1
Australia 1,510.6 5 Water & Sewerage 144.2 1
Sweden 1,462.0 2 Total 43,608.2 120
Malaysia 1,145.3 2
Italy 1,089.9 3
Kazakhstan 992.9 1
Germany 850.3 6
Panama 575.0 1
India 522.6 1
Brazil 510.8 2
Colombia 508.3 2
Norway 392.0 2
Philippines 391.9 1
Denmark 381.5 1
Dominican Republic 362.5 1
Peru 347.4 1
Ireland 324.7 2
Turkey 305.7 1
Netherlands 255.1 1
China 74.2 1
Chile 50.0 1
Total 43,608.2 120

80 Project Finance International January 25 2017

 2016 LEAGUE TABLES

MULTILATERAL DEVELOPING COUNTRY PROJECT FINANCE DEALS

IDFI
Project Country Cost Debt involvement Details
Acu Port terminal Brazil 500 350 350 OPIC loan
Al Marfraq solar Jordan 105 78 78 EBRD, Proparco loans
Al Rajef wind Jordan 185 140 140 EBRD, Proparco, DEG
Alisios wind farms Costa Rica 149 123 FMO loan, Proparco loan
Amandi IPP Ghana 552 418 333 OPIC, CDC loans
AP Renewables green bond Philippines 301 238 75% credit enhancement; ADB loan
Atacama solar Chile 100 50 CAF loan and others
Axion refinery Argentina 1,500 378 78 IFC A loan
Bahrain LNG Bahrain 1,000 714 580 Ksure cover
Banie wind farm expansion Poland 63 41 EBRD loan
Barakah nuclear UAE 2,500 2,250 2,000 Kexim loan
Campo Palomas wind Uruguay 175 140 140 IADB A/B loan
CBG mine Guinea 823 643 IFC, OPIC, UKEF
Central Java coal power Indonesia 4,300 3,430 2,050 JBIC direct loan
Cerradinhobio biomass Brazil 48 48 IFC loan
Colon IPP Panama 535 245 IFC, CABEI, others
Cundinamarca 4G road Colombia 640 284 156 IADB loan
CYPV Energy Cyprus 11 11 EBRD loan
D4/R7 bypass Slovakia 1,059 642 EIB loan, EBRD loan
Elazig hospital PPP Turkey 303 218 EBRD, MIGA, others
Energean Greece 20 20 EBRD loan
Fac D Qatar 3,150 2,538 1,269 JBIC direct loan
Freetown IPP Sierra Leone 138 109 109 CDC, AfDB, EAIF, FMO, IFC loans
FRV solar Jordan 95 72 56 IFC, FMO, others
Fujeij wind Jordan 180 116 116 Kexim loan and cover
Gharbia Pipe Company UAE 185 111 JBIC loan
Gori wind Georgia 22 10 EBRD A-loan
Grenergy solar Chile 8 8 Inter-American Investment Corp loan
Helios Towers DRC 105 20 EAIF loan
IGT Myanmar 122 13 FMO loan
Indorama port Nigeria 74 74 IFC loan
IPP5 Jordan 380 335 IFC, EBRD, OFID and MIGA cover
OFID loan
Ituango hydro Colombia 411 411 BNDES, EDC
Kalsel IPP Indonesia 545 420 360 Ksure cover
Karot Power Pakistan 2,000 1,600 100 IFC loan
Kingston terminal concession Jamaica 452 264 184 IADB, FMO, DEG, Proparco, others loan
Liwa Plastics Oman 3,800 2,380 Kexim loan, Hermes,, Ksure, Sace, UKEF
Los Loros solar Chile 114 65 65 IADB loan, Proparco loan, IIC loan
Mafraq solar Jordan 74 54 54 EBRD, FMO loans
Manantiales Behr wind Argentina 100 100 IIC loan
Mass Global IPP Iraq 250 250 IFC debt and equity
Meridiam solar PV Senegal 48 38 38 Proparco loan
Myanmar Industrial port Myanmar 40 40 IFC loan
Mytrah Energy India India 670 505 175 ADB loan
Oruro solar Bolivia 100 68 68 AFD loan
Peralta wind refi Uruguay 160 80 Hermes, others
Phoenix Tower Brazil 25 25 IFC loan
Providencia solar El Salvador 151 118 118 IADB, Proparco loans
Puma pulp mill Brazil 300 300 IADB A/B loan
SACS undersea cable Angola 110 110 JBIC loan, NEXI guarantee
Santa Ana-Mocoa-Neiva 4G Colombia 460 115 IFC loan, others
SETRAG Gabon 95 75 IFC, Proparco, others
Sirajganj IPP Bangladesh 412 309 206 IFC, CDC, others
Sokhna Port Egypt 417 200 200 IFC loan, EBRD loan
Solaria Uruguay 25 25 IADB
Soroti solar Uganda 17 10 10 FMO loan; EAIF loan
Sulawesi wind farm Indonesia 120 120 OPIC loan
Tangguah 3 LNG Indonesia 3,745 1,600 JBIC, ADB, others
Tema port Ghana 1,000 667 234 IFC, FMO and others loan
Ten Merina solar Senegal 46 35 35 Proparco, BIO
Terna wind farms Greece 64 53 EBRD, others
Theistareykir geothermal Iceland 190 190 NIB, EIB loans
Tsetsii solar Mongolia 122 25 25 EBRD loan
Tsetsii wind Mongolia 85 85 EBRD, JICA

Project Finance International January 27 2016 81

MULTILATERAL DEVELOPING COUNTRY PROJECT FINANCE DEALS CONTINUED
IDFI
Project Country Cost Debt involvement Details

Vitol OCTP Ghana 1,350 880 MIGA cover, IFC and UKEF loans
Yamal Russia 1,007 1,007 Sace cover, Coface cover, JBIC loan
Total 32,040 20,023

MULTILATERAL DEVELOPING COUNTRY EXPOSURE BY INSTITUTION MULTILATERAL EXPOSURE BY DEVELOPING COUNTRY

IDFI Direct lending Guarantees Exposure Total Country Debt IDFI provision

1 JBIC 4,907 44 4,951 8,692 1 Indonesia 7,715 4,130

2 Kexim 2,316 1,524 3,840 4,672 2 Oman 3,800 2,380
3 World Bank 1,967 493 2,460 3,784 3 UAE 2,435 2,111
4 UKEF 400 825 1,225 2,632 4 Ghana 2,435 1,447
5 IADB 701 255 956 2,285 5 Qatar 2,538 1,269
6 Sace 0 930 930 1,915 6 Russia 1,007 1,007
7 OPIC 870 0 870 1,364 7 Jordan 840 779
8 ADB 613 200 813 895 8 Brazil 723 723
9 EBRD 663 45 708 792 9 Colombia 1155 682
10 EIB 615 0 615 875 10 Guinea 823 643
11 Hermes 0 612 612 800 11 Slovakia 1059 642
12 AFD 421 0 421 1,105 12 Bahrain 714 580
13 EDC 300 0 300 415 13 Iraq 250 250
14 CDC 208 0 208 828 14 Panama 535 245
15 FMO 168 0 168 581 15 Uruguay 325 245
16 BNDES 111 0 111 300 16 Philippines 301 238
17 CABEI 95 0 95 355 17 Turkey 303 218
18 JICA 60 0 60 100 18 Bangladesh 309 206
19 DEG 50 0 50 70 19 Egypt 200 200
20 CAF 50 0 50 62 20 Iceland 190 190
21 NIB 50 0 50 90 21 Jamaica 264 184
22 EAIF 50 0 50 45 22 Argentina 478 178
23 OPEC 45 0 45 37 23 India 505 175
24 AfDB 20 0 20 35 24 Chile 173 123
25 BIO 17 0 17 40 25 Costa Rica 149 123
26 Coface 0 398 398 15 26 El Salvador 118 118
Total 14,697 5,326 20,023 40,046 27 Angola 110 110
28 Mongolia 110 110
29 Sierra Leone 109 109
30 Pakistan 1,600 100
31 Gabon 95 75
32 Nigeria 74 74
33 Greece 84 73
34 Senegal 73 73
35 Bolivia 68 68
36 Myanmar 162 53
37 Poland 63 41
38 DRC 105 20
39 Cyprus 11 11
40 Uganda 10 10
41 Georgia 22 10
Total 32,040 20,023

82 Project Finance International January 25 2017

 2016 LEAGUE TABLES

MULTILATERAL DEVELOPED COUNTRY PROJECT FINANCE DEALS

IDFI
Project Country Cost Debt involvement Details

A6 Almere Netherlands 334 178 89 EIB loan

A6 PPP Germany 782 250 EIB loan
A8 refinancing Germany 490 490 245 EIB loan, EIB SDCE
A94 Germany 364 182 EIB loan
Beatrice offshore wind UK 3,447 696 696 EIB loan, EKF cover
Dolomiti Energia Italy 107 107 EIB loan
Hof & Seibersdorf wind Austria 45 45 EIB loan
Humber Gateway OFTO UK 204 102 EIB loan
Kilpilahti CHP Finland 453 291 EIB loan, NIB loan
Lacedonia wind farm Italy 85 57 EKF part-cover
Luchterduinen offshore refi Netherlands 505 278 JBIC loan
Mirova wind Sweden 18 18 EIB loan
Monaco I gas pipeline Germany 221 42 EIB loan
N25 PBCE Ireland 262 166 24 15% credit enhancement (PBCE)
Nordic Wind Power Norway 525 260 173 EKF cover
Norther offshore wind Belgium 1,200 926 468 EIB loan, EKF cover
Passante di Mestre refi Italy 924 184 EIB PBCE letter of credit
Primary Care Centres PPP Ireland 156 78 EIB loan
Rentel wind Belgium 1,160 895 316 EIB loan, Delcredere cover, EKF cover
Rock Rail UK 800 73 EIB loan
SaarLB Europe 112 112 EIB guarantee
Styria wind farm Austria 56 42 42 EIB loan
Tellenes wind farm Norway 156 39 EKF cover
Thames Tideway UK 929 929 EIB loan
VICT Melbourne Australia 300 100 Finnvera cover
Westermost OFTO UK 245 220 110 EIB and Aviva split loan
Yorkshire Schools UK 150 50 EIB loan
Total 10,184 5,100

MULTILATERAL DEVELOPED COUNTRY EXPOSURE BY INSTITUTION MULTILATERAL EXPOSURE BY DEVELOPED COUNTRY

IDFI Direct lending Guarantees Exposure Total Country Debt IDFI provision

1 EIB 3362 409 3771 7,717 1 UK 2,999 1960

2 EKF 0 834 834 442 2 Belgium 1,821 784
3 JBIC 278 0 278 937 3 Germany 1,607 469
4 Finnvera 0 100 100 298 4 Netherlands 683 367
5 NIB 91 0 91 468 5 Finland 453 291
6 Delcredere 0 26 26 165 6 Germany 250 250
Total 3,731 1,369 5,100 10,200 7 Italy 1116 348
8 Norway 416 212
9 Europe 112 112
10 Ireland 322 102
11 Australia 300 100
12 Austria 87 87
13 Sweden 18 18
Total 10,184 5,100

Project Finance International January 25 2017 83

GLOBAL ADVISORY MANDATES WON IN 2016 GLOBAL ADVISORIES CLOSED IN 2016
1 2 3 Total Overall Advisor No of deals Volume (US$m)
1 EY 31 69 5 105 171 1 Portland Advisers 3 20,680
2 PwC 10 45 16 71 221 2 Societe Generale 14 19,407
3 Synergy Consulting 28 12 22 62 92 3 China Development Bank 1 19,000
4 Societe Generale 12 0 18 30 44 3 Gazprombank 1 19,000
5 Green Giraffe 23 1 5 29 49 3 Sberbank 1 19,000
6 MUFG 13 0 12 25 29 6 Macquarie 12 17,840
7 Credit Agricole 14 1 5 20 43 7 Deutsche 4 12,073
8 SMBC 12 0 8 20 40 8 PwC 24 9,592
9 BNP Paribas 11 0 0 11 15 9 MUFG 11 9,458
10 TASC 6 0 4 10 20 10 UBS 1 9,000
11 Portland Advisers 10 0 0 10 10 11 SMBC 6 7,833
12 SBI Capital 9 0 0 9 9 12 SBI Capital 9 6,613
13 Natixis 6 0 0 6 8 13 JP Morgan 2 5,580
14 ING 6 0 0 6 6 14 HSBC 6 5,560
15 Greengate 5 0 0 5 16 15 BNP Paribas 7 5,208
16 Standard Chartered 3 0 0 3 10 16 Credit Suisse 2 5,180
17 DBS 1 0 1 2 4 17 KPMG 12 3,966
18 Gazprombank 2 0 0 2 2 18 EY 14 3,590
18 China Development Bank 2 0 0 2 2 19 Synergy Consulting 3 3,000
18 Mizuho 1 0 1 2 2 20 Green Giraffe 7 2,740
21 P3Point 0 1 0 1 2
21 Flagstaff Partners 1 2,590
Total 205 129 97 431(354)
21 Gresham Partners 1 2,590
21 Morgan Stanley 1 2,590
Key
21 Credit Suisse 1 2,590
1 - Privately owned sponsors
25 Greengate 2 2,038
2 - Government or government owned sponsors
26 Unicredit 4 1,837
3 Bidders in a competition 27 Standard Chartered 2 1,663
28 Rothschild 3 1,396
29 Amsterdam Capital Partners 1 1,370
30 Natixis 4 1,278
31 Citigroup 2 1,271
32 Whitehall & Co 2 1,225
33 Arcus Financial Advisers 1 1,118
34 Credit Agricole 3 1,100
35 DC Advisory 2 993
36 Evercore 4 905
37 Santander 1 822
38 DBS 2 804
39 Bank of America Merrill Lynch 1 721
39 Mediobanca 1 721
41 P3Point 1 500
42 Rebel 3 485
43 Fieldstone 1 418
44 PFAL 1 350
45 Newbridge Advisers 3 273
46 Lazard 1 267
47 Brookfield Financial 1 250
48 Operis 1 242
49 Rubicon 1 224
50 DWPS 1 218
51 ANZ 1 190
52 Augusta & Co 1 147

84 Project Finance International January 25 2017

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ASIA PACIFIC ADVISORY MANDATES WON IN 2016 EMEA ADVISORY MANDATES WON IN 2016
1 2 3 Total Overall 1 2 3 Total Overall
1 Synergy Consulting 24 12 16 52 82
1 PwC 6 22 7 35 85
2 Societe Generale 11 0 14 25 36
2 EY 0 18 0 18 44
3 PwC 4 15 5 24 101
3 MUFG 9 0 5 14 18
4 Green Giraffe 18 1 4 23 43
4 SBI Capital 9 0 0 9 9
5 Credit Agricole 10 1 5 16 36
4 Synergy Consulting 3 0 6 9 9
6 EY 5 5 3 13 30
6 SMBC 4 0 2 6 15
7 MUFG 4 0 7 11 11
7 Green Giraffe 3 0 0 3 3
8 TASC 6 0 4 10 20
8 DBS 1 0 1 2 4
9 Portland Advisers 9 0 0 9 9
9 Credit Agricole 1 0 0 1 3
10 SMBC 2 0 5 7 13
10 Natixis 1 0 0 1 1
11 ING 5 0 0 5 5
10 Portland Advisers 1 0 0 1 1
12 Standard Chartered 3 0 0 3 10
Total 38 40 21 99(66)
13 Greengate 2 0 0 2 7
14 BNP Paribas 2 0 0 2 6
Key
15 Gazprombank 2 0 0 2 2
1 - Privately owned sponsors 15 China Development Bank 2 0 0 2 2
2 - Government or government owned sponsors 17 Natixis 1 0 0 1 3
3 Bidders in a competition Total 110 34 63 207(211)

AMERICAS ADVISORY MANDATES WON IN 2016 Key

1 2 3 Total Overall 1 - Privately owned sponsors

1 EY 26 46 2 74 91 2 - Government or government owned sponsors

2 PwC 0 8 4 12 35 3 Bidders in a competition
3 BNP Paribas 9 0 0 9 9
4 SMBC 6 0 1 7 12
5 Societe Generale 1 0 4 5 8
6 Natixis 4 0 0 4 4
7 Greengate 3 0 0 3 9
8 Credit Agricole 3 0 0 3 4
9 Green Giraffe 2 0 1 3 3
10 Mizuho 1 0 1 2 2
11 P3Point 0 1 0 1 2
12 Synergy Consulting 1 0 0 1 1
12 ING 1 0 1 1 1
Total 57 55 13 125(77)

Key
1 - Privately owned sponsors
2 - Government or government owned sponsors
3 Bidders in a competition

86 Project Finance International January 25 2017

 2016 LEAGUE TABLES

AMERICAS ADVISORY MANDATES CLOSED IN 2016 ASIA PACIFIC ADVISORY MANDATES CLOSED IN 2016
No of Volume No of Volume
deals (US$m) Deals deals (US$m) Deals

1 Societe 4 6,418 Cheniere Energy refi (1, USA, 2800), Block Island 1 Macquarie 5 10,832 AusGrid (3, Australia, 9000), Asciano ports (3,
Generale refi (1, USA, 343), LaGuardia (3, USA, 2400), Vista Australia, 792), GWA (3, Australia, 503), Puhoi (3,
Ridge (1, USA, 875) New Zealand 350), AGL solar (1, Australia, 187)
2 Macquarie 1 2,800 Chicago Skyway (1, USA, 2800) 2 Deutsche 1 9,000 AusGrid (2, Australia, 9000)
3 KPMG 4 2,067 Edmonton Valley (2, Canada, 929), Seneca 3 UBS 1 9,000 AusGrid (2, Australia, 9000)
College (2, Canada, 53), SH 288 (2, USA, 1015), 4 SBI Capital 9 6,613 Mytrah Energy (1, India, 606), Chambai Fertiliser (1,
West Lafatyette State Street (2, USA, 70) India, 914), JK Cement (1, India, 289), KSK Mahanadi
4 Greengate 2 2,038 Purple Line (3, US, 1197), Chesapeake Bay Bridge (I, India, 851), Meenakshi Energy (1, India, 492),
(3, USA, 841) Thermal Powertech (1, India, 1298), MJPRCL road (I,
India, 400), Sasam Power, (1, India, 1656), Jharkand
5 MUFG 2 2,007 Purple Line (3, US, 1197), Virginia International Infrastructure (1, India, 107)
Gateway (1, USA, 810)
5 Credit 2 5,180 Port of Melbourne (2, Australia, 2590), Asciano rail
6 EY 3 1,929 Borden Data (3, Canada, 244), 1-285 (2, USA, Suisse (3, Australia, 2590)
485), UC Merced (2, USA, 1200)
6 MUFG 7 4,686 TuasOne WtE (3, Singapore, 450), Moomba refi (1,
7 Whitehall 2 1, 225 Tenaska Westmoreland (1, USA, 780), Clean Australia, 150), Canberra LRT (3, Australia, 493),
& Co Energy Future Lordstown (1, USA, 445) Darwin prison refi (1, Australia, 452), Fukishima IPP
8 BNP Paribas 1 850 Octopus (1, Chile, 850) (1, Japan, 2760), Cameron LNG MHI (1, Japan, 189),
9 Santander 1 822 TEN (1, Chile, 822) Cameron LNG SHI (1, Japan, 192)
10 Citigroup 1 575 Tocumen (1, Peru, 575) 7 Societe 1 3,745 Tangguh LNG (1, Indonesia, 3745)
Generale
11 P3Point 1 500 Long Beach Civic Center (3, USA, 500)
8 SMBC 3 3,628 Central Java (1, Indonesia, 3360), Hasang (1,
12 PFAL 1 350 Kansas University (1, USA, 350) Indonesia, 140), Tsetsii (1, Mongolia, 128)
13 Natixis 1 303 Quintillon (1, USA, 303) 9 Flagstaff 1 2,590 Port of Melbourne (2, Australia, 2590)
14 Portland 1 280 Seaborn Partners (1, Brazil, 280) Partners
Advisers 9 Gresham 1 2,590 Port of Melbourne (2, Australia, 2590)
15 Brookfield 1 250 Etobicoke Hospital (3, Canada, 250) Partners
Financial 9 Morgan 1 2,590 Port of Melbourne (2, Australia, 2590)
16 Credit 1 200 El Pelicano (1, Chile, 200) Stanley
Agricole 12 HSBC 2 2,007 TTM refi (1, Thailand, 207), Jawa 7 (2, Indonesia,
17 PwC 2 175 St John water (2, Canada, 103), Penticton Hospital 1800),
(2, Canada, 72) 13 PwC 6 2,003 Umbulan (2, Indonesia, 65), HCMT (2, Australia,
1503), Gold Coast LRT 2 (2, Australia, 127), Palapa
ring west (2, Indonesia, 74), Palapa central (2,
Indonesia, 79), Pyeongtaek (2, South Korea, 155)
Key 14 EY 4 903 Canberra LRT (2, Australia, 493), ACT (2,
Australia, 148), Mount Emerald (2, Australia, 190),
1 - Privately owned sponsors
Chhattisgarh Road (2, India, 72)
2 - Government or government owned sponsors 15 DBS 2 804 Kalimantan Selatam (1, Indonesia, 409), Well
3 Bidders in a competition Harvest Winning Alumina (1, Indonesi, 395)
16 KPMG 1 450 TuasOne WtE (2, Singapore, 450)
17 Natixis 1 284 Hawaiki (1, New Zealand, 284)
18 Standard 1 263 Angat hydro (1, Philippines, 263)
Chartered
19 Green 1 260 Hornsdale (1, Australia, 260)
Giraffe
20 ANZ 1 190 Mount Emerald (1, Australia, 190)

Key
1 - Privately owned sponsors
2 - Government or government owned sponsors
3 Bidders in a competition

Project Finance International January 25 2017 87

EMEA ADVISORY MANDATES CLOSED IN 2016
No of Volume
deals (US$m) Deals
1 Portland Advisers 2 20,400 Yamal LNG (1, Russia, 19000), OCTP (1, Ghana, 1400)
2 China Development 1 19,000 Yamal LNG (1, Russia, 19000)
Bank
2 Gazprombank 1 19,000 Yamal LNG (1, Russia, 19000)
2 Sberbank 1 19,000 Yamal LNG (1, Russia, 19000)
5 Societe Generale 9 9,244 Bahrain LNG (3, Bahrain, 741), Angola LNG (1, Angola, 1790), EPH refi (1, Czech Republic, 2398), Dudgeon (1, UK, 1930), Clover Wind (1,
UK, 83), Nice Airport (3, France, 721), A27/A1 (3, Netherlands, 292), A41 refi (3, France, 843), N17/N18 refi (1, France, 446)
6 PwC 16 7,414 D4/D7 (2, 16 Slovakia, 1054), Facility D (2, Qatar, 2500), Balard refi (2, France, 900), KAV Vienna (2, Austria, 90), Amsterdam court (2,
Netherlands, 280), SAA A6 (2, Netherlands, 190), Beatrix lock (2, Netherlands, 200), A27/A1 (2, Netherlands, 292), SAA A1/A6 refi (2,
Netherlands, 520), Hart van Zuid (2, Netherlands, 30), N18 (2, Netherlands, 230), Fixed Wing 2B (1, UK, 270), Humber Gateway OFTO
(3, UK, 220), Cubico solar (1, UK, 300), Supreme Court refi (2, Netherlands, 40), Sheffield roads refi
7 JP Morgan 2 5,580 Alba (1, Bahrain, 1580), TCO (1, Kazakhstan, 4000)
8 BNP Paribas 6 4,358 Andasol 1&2 refi (1, Spain, 341), Vortex (1, Portugal, 360), Compagnie des Bauxites de Guinee (1, Guinea, 823), Caruna refi (1, Finland,
2026), Luchterduinen (1, Netherlands, 465), ISTP2 refi (1, UAE, 343)
9 Macquarie 6 4,208 Royal Vopak (3, UK, 242), Thyssengas (1, Germany, 126), SGI (1, Italy, 500), Tees Renewable Energy (1, UK, 786), Race Bank (3, UK, 1500),
D4/D7 (3, Slovakia, 1054)
10 SMBC 3 4,205 Liwa (1, Oman, 3800), Fujeij (3, Jordan, 180), LSAW pipe (1, UAE, 225),
11 HSBC 4 3,553 Rabigh 1 refi (2, Saudi Arabia, 1825), Edinburgh waste (3, UK, 177), A28 refi (1, France, 990), Lyon Airport (2, France, 561),
12 Synergy Consulting 3 3,000 Infinity 50 (3, Egypt, 120), RAF A3 (1, Qatar, 380), Facility D (3, Qatar, 2500)
13 Deutsche 3 3,073 A28 refi (1, France, 990), Merkur (1, Germany, 1370), Olympia Odos (1, Greece, 713)
14 MUFG 2 2,765 A94 (3, Germany, 465), Beatrice (1, UK, 2300)
15 Green Giraffe 6 2,480 Velocita (1, UK, 100), EECo (1, France, 60), Rentel, (1, Belgium, 900), Valeco (1, France, 270), Norther (1, Belgium, 900), Walney refi (1,
UK, 250)
16 Unicredit 4 1,837 A6 (3, Germany, 552), A8 refi (1, Germany, 450), Gas Connect Austria (1, Germany, 310), SGI (3, Italy, 525)
17 KPMG 7 1,449 Brabo 1 refi (1, Belgium, 182), Campus Condorcet (3, France 182), Toulouse-Blagnac Airport (1, France, 113), N25 (2, Ireland, 176), Bologna
LRT (2, Italy, 143), Yorkshire PSBP (3, UK, 188), Kemsley WtE (3, UK, 465)
17 Standard Chartered 1 1,400 OCTP (1, Ghana, 1400)
18 Rothschild 3 1,396 Lyon Airport (3, France, 561), SGI (3, Italy, 525), Gas Connect Austria (1, Germany, 310)
19 Amsterdam Capital 1 1,370 Merkur (1, Germany, 1370)
Partners
20 Arcus Financial 1 1,118 Ital Gas Storage (1, Italy, 1118)
Advisors
21 DC Advisory 2 993 Coriance (3, France, 267), East Anglian rail (3, UK, 726)
22 Evercore 4 905 Viesgo (1, Spain, 185), Peel Ports (1, UK, 225), Roadchef (1, UK, 345), IEG, (1, UK, 150)
23 Credit Agricole 2 900 Total Gabon (1, Gabon 340), Lyon Airport (3, France, 561)
24 EY 7 758 South Ayrshire hub (2, UK, 32), North Ayrshire hub (2, UK, 51), Dumfries & Galloway hub (2, UK, 32), East Ayrshire hub (2, UK, 53), NHS
Lothian hub (2, UK, 33), Edinburgh waste (2, UK, 177), Delfuent refi (1, Netherlands, 380)
25 Bank of America Merrill 1 721 Nice Airport (3, France, 721)
Lynch
25 Mediobanca 1 721 Nice Airport (2, France, 721)
27 Citigroup 1 696 London Gateway (1, UK, 696)
28 Natixis 2 691 Axione (3, France, 556), Quercus solar (1, Italy, 135)
29 Rebel 3 485 SAA A6 (2, Netherlands, 190), Beatrix lock (2, Netherlands, 200), Antwerp wind (1, Belgium, 95)
30 Fieldstone 1 418 Amandi (1, Ghana, 418)
31 Newbridge Advisors 3 273 Hounslow roads refi (1, UK, 106), Salford BSF refi (1, UK, 82), Kirklees social refi (1, UK, 85)
32 Lazard 1 267 Coriance (3, France, 267)
33 Operis 1 242 Moorgate rail (3, UK, 242)
34 Rubicon 2 224 Supreme Court refi (2, Netherlands, 40), Acega road refi (1, Spain, 184)
35 DWPS 1 218 North Wales waste (3, UK, 218)
36 Augusta & Co 1 147 Tellenes wind (1, Norway, 147)

Key
1 - Privately owned sponsors
2 - Government or government owned sponsors
3 Bidders in a competition

88 Project Finance International January 25 2017