U K B A N K F I N A N C I N G
Financial data presented here are based on underwriting league tables compiled by Bloomberg for Jan 1, 2007 to December 31, 2009. Totals are derived from loans, corporate debt and equity issuances involving companies with significant operations in the tar sands listed in Appendix 1. Figures are based on reporting by banks to Bloomberg, but may be incomplete due to undisclosed proprietary banking relationships. Table 1 looks at the finance that RBS, Barclays and HSBC have made to companies that are engaged in tar sands over a three year period from January 2007 through to December 2009 and has been collated using a Bloomberg terminal.43 The data has been broken down into loans, corporate debt underwriting44 and equity underwriting. The totals represent underwriting to companies that (a) have an ownership stake in existing tar sands projects and projects under development; or (b) own, operate or are developing pipelines primarily being used to transport tar sands products. All the figures in the table are in millions of US dollars and the full listing of all the individual loans and underwritings can be found in Appendix 1. Totals may not reflect actual lending, rather they represent the full value of loans where the bank acted as lead book-runner (also called managing underwriter, lead manager, etc). Where the bank was one of
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