2015 Hall of Shame – I

The following financial institutions beginning with “I” appear in the 2015 Don’t Bank on the Bomb Hall of Shame. For the full list, or to lookup financial institutions by country, please see here.

ICAP (India)

ICAP (India) has made an estimated US$ 7 million available to the nuclear weapons companies listed in this report since January 2012.

ICAP (India) underwrote bond issuances for an estimated amount of US$ 7 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by ICAP

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Issue date Maturity date
Larsen & Toubro 6 1.56 27-3-2014 8-4-2015
Larsen & Toubro 6 1.56 27-3-2014 7-4-2015
Larsen & Toubro 6 1.56 27-3-2014 6-4-2015
Larsen & Toubro 6 1.56 27-3-2014 8-4-2015
Larsen & Toubro 0 0.13 12-6-2015 21-2-2017
Larsen & Toubro 0 0.11 12-6-2015 1-8-2017
Larsen & Toubro 0 0.01 12-6-2015 24-7-2017
Larsen & Toubro 0 0.01 12-6-2015 31-5-2017
Larsen & Toubro 0 0.01 12-6-2015 19-6-2017
Larsen & Toubro 0 0.02 12-6-2015 12-6-2017

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

 

ICAP invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

ICICI Bank (India)

ICICI Bank (India) has made an estimated US$ 760 million available to the nuclear weapons companies listed in this report since January 2012.

ICICI Bank (India) provided loans for an estimated amount of US$ 60 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by ICICI Bank

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Closing date Maturity date
Boeing 2,473 30 23-9-2014 15-10-2015
Boeing 2,473 30 23-9-2014 16-10-2019

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

 

ICICI Bank (India) underwrote bond issuances for an estimated amount of US$ 82 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by ICICI Bank

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Issue date Maturity date
Larsen & Toubro 36 9 14-6-2012 13-6-2014
Larsen & Toubro 36 9 14-6-2012 13-6-2014
Larsen & Toubro 51 10 14-12-2012 20-12-2022
Larsen & Toubro 51 10 14-12-2012 20-12-2022
Larsen & Toubro 37 7 29-10-2013 28-10-2016
Larsen & Toubro 37 7 29-10-2013 28-10-2016
Larsen & Toubro 8 2 20-3-2014 27-3-2024
Larsen & Toubro 30 8 9-6-2014 9-6-2016
Larsen & Toubro 36 5 13-6-2014 13-5-2016
Larsen & Toubro 45 6 13-6-2014 13-6-2016
Larsen & Toubro 18 5 21-1-2015 19-1-2018
Larsen & Toubro 18 5 21-1-2015 15-2-2017

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

 

ICICI Bank (India) owns or manages shares of the nuclear weapon companies for an amount of US$ 507 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by ICICI Bank

Company Country Total value
(US$ mln)
% Outstanding Filing date
Larsen & Toubro India 507 2.02 31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

 

ICICI Bank (India) owns or manages bonds of the nuclear weapon companies for an amount of US$ 111 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

Bondholdings managed by ICICI Bank

Company Country Total value
(US$ mln)
% Outstanding Filing date
Larsen & Toubro India 111 1.41 31-5-2015

Source: Thomson Eikon, “Bond ownership: most recent filings”, viewed in August 2015.

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IDFC (India)

IDFC (India) has made an estimated US$ 60 million available to the nuclear weapons companies listed in this report since January 2012.

IDFC (India) underwrote bond issuances for an estimated amount of US$ 9 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by IDFC

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Issue date Maturity date
Larsen & Toubro 18 5 17-5-2013 15-5-2015
Larsen & Toubro 18 5 17-5-2013 15-5-2015

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

 

IDFC (India) owns or manages bonds of the nuclear weapon companies for an amount of US$ 51 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

Bondholdings managed by IDFC

Company Country Total value
(US$ mln)
% Outstanding Filing date
Larsen & Toubro India 51 0.65 31-5-2015

Source: Thomson Eikon, “Bond ownership: most recent filings”, viewed in August 2015.

 

IDFC invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

Industrial and Commercial Bank of China (China)

Industrial and Commercial Bank of China (China) has made an estimated US$ 306 million available to the nuclear weapons companies listed in this report since January 2012.

Industrial and Commercial Bank of China (China) provided loans for an estimated amount of US$ 306 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by Industrial and Commercial Bank of China

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Closing date Maturity date
Airbus Group 4,345 76 14-3-2011 14-4-2016
Airbus Group 3,797 66 14-10-2014 14-10-2019
Boeing 2,300 42 5-11-2011 10-11-2016
Boeing 2,473 25 23-9-2014 15-10-2015
Boeing 2,473 25 23-9-2014 16-10-2019
Honeywell International 4,000 73 18-11-2013 10-12-2018

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

 

Industrial and Commercial Bank of China invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

ING Group (Netherlands)

ING Group (Netherlands) has made an estimated US$ 460 million available to the nuclear weapons companies listed in this report since January 2012.

ING Group (Netherlands) provided loans for an estimated amount of US$ 443 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by ING Group

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Closing date Maturity date
Airbus Group 4,345 76 14-3-2011 14-4-2016
Airbus Group 3,797 66 14-10-2014 14-10-2019
Fluor 1,800 180 7-11-2012 9-11-2017
Safran 2,122 121 18-11-2010 8-12-2015

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

 

ING Group (Netherlands) underwrote bond issuances for an estimated amount of US$ 18 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by ING Group

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Issue date Maturity date
Fluor 500 18 18-11-2014 15-12-2024

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

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ING Group invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

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International Value Advisors (United States)

International Value Advisors (United States) has made an estimated US$ 72 million available to the nuclear weapons companies listed in this report since January 2012.

International Value Advisors (United States) owns or manages shares of the nuclear weapon companies for an amount of US$ 72 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by International Value Advisors

Company Country Total value
(US$ mln)
% Outstanding Filing date
Thales France 72 0.62 31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

 

International Value Advisors invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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Share this with your friends:

   

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Click on “Read the Petition” if you want to modify the text!

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

Intesa Sanpaolo (Italy)

Intesa Sanpaolo (Italy) has made an estimated US$ 1,417 million available to the nuclear weapons companies listed in this report since January 2012.

Intesa Sanpaolo (Italy) provided loans for an estimated amount of US$ 1,111 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by Intesa Sanpaolo

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Closing date Maturity date
Airbus Group 4,345 76 14-3-2011 14-4-2016
Boeing 2,300 42 5-11-2011 10-11-2016
Boeing 2,473 30 23-9-2014 15-10-2015
Boeing 2,473 30 23-9-2014 16-10-2019
Finmeccanica 3,181 191 28-7-2010 21-9-2015
Finmeccanica 3,001 150 9-7-2014 9-7-2019
Finmeccanica 2,212 153 6-7-2015 6-7-2020
Honeywell International 2,800 62 17-3-2011 31-3-2016
Honeywell International 3,000 129 30-3-2012 2-4-2017
Honeywell International 4,000 73 18-11-2013 10-12-2018
Northrop Grumman 500 13 18-8-2012 3-9-2013
Raytheon 1,400 76 13-12-2011 13-12-2016
Thales 1,979 88 17-12-2010 17-12-2015

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

 

Intesa Sanpaolo (Italy) underwrote bond issuances for an estimated amount of US$ 305 million to the nuclear weapon companies since January 2012 (see table below).

Underwriting of bond issuances by Intesa Sanpaolo

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Issue date Maturity date
Boeing 350 10 30-4-2013 15-11-2018
Boeing 300 4 28-10-2014 30-10-2021
Boeing 300 4 28-10-2014 30-10-2024
Boeing 250 3 18-2-2015 1-3-2025
Boeing 250 3 18-2-2015 1-3-2035
Boeing 250 3 18-2-2015 1-3-2045
Finmeccanica 777 71 28-11-2012 5-12-2017
Finmeccanica 950 59 26-11-2013 19-1-2021
Finmeccanica 339 20 17-1-2014 19-1-2021
Fluor 500 10 18-11-2014 15-12-2024
Honeywell International 300 10 18-11-2013 1-12-2023
Honeywell International 700 23 18-11-2013 17-11-2015
Northrop Grumman 850 26 28-5-2013 1-6-2018
Northrop Grumman 1,050 32 28-5-2013 1-8-2023
Northrop Grumman 950 29 28-5-2013 1-6-2043

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed in August 2015.

 

Intesa Sanpaolo invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

Invesco (United States)

Invesco (United States) has made an estimated US$ 5,413 million available to the nuclear weapons companies listed in this report since January 2012.

Invesco (United States) owns or manages shares of the nuclear weapon companies for an amount of US$ 5,378 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by Invesco

Company Country Total value
(US$ mln)
% Outstanding Filing date
Aecom United States 107 2.31 31-3-2015
Aerojet Rocketdyne United States 8 0.51 31-3-2015
BAE Systems United Kingdom 2,594 10.00 18-2-2015
Fluor United States 82 0.99 31-3-2015
General Dynamics United States 811 1.84 31-3-2015
Honeywell International United States 533 0.64 31-3-2015
Huntington Ingalls Industries United States 39 0.57 31-3-2015
Northrop Grumman United States 244 0.80 31-3-2015
Raytheon United States 397 1.19 31-3-2015
Serco United Kingdom 60 2.64 17-4-2015
Textron United States 504 4.11 31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

 

Invesco (United States) owns or manages bonds of the nuclear weapon companies for an amount of US$ 35 million (see table below). Only holdings of 0.50% or more of the outstanding bonds at the most recent available filing date are included.

Bondholdings managed by Invesco

Company Country Total value
(US$ mln)
% Outstanding Filing date
Aecom United States 16 0.77 30-4-2015
Aerojet Rocketdyne United States 13 2.40 30-4-2015
MOOG United States 6 2.03 30-4-2015

Source: Thomson Eikon, “Bond ownership: most recent filings”, viewed in August 2015.

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Invest AD (United Arab Emirates)

Invest AD (United Arab Emirates) has made an estimated US$ 76 million available to the nuclear weapons companies listed in this report since January 2012.

Invest AD (United Arab Emirates) provided loans for an estimated amount of US$ 76 million to the nuclear weapon companies (see table below). The table shows all loans closed since January 2012 or maturing after August 2015.

Loans provided by Invest AD

Company Total value
(US$ mln)
Est. participation of this bank
(US$ mln)
Closing date Maturity date
Raytheon 1,400 76 13-12-2011 13-12-2016

Source: Thomson ONE Banker, “Loans”, viewed in August 2015.

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Invest AD invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

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Share this with your friends:

   

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Click on “Read the Petition” if you want to modify the text!

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

IONIC Capital Management (United States)

IONIC Capital Management (United States) has made an estimated US$ 41 million available to the nuclear weapons companies listed in this report since January 2012.

IONIC Capital Management (United States) owns or manages shares of the nuclear weapon companies for an amount of US$ 41 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by IONIC Capital Management

Company Country Total value
(US$ mln)
% Outstanding Filing date
Aerojet Rocketdyne United States 41 2.82 31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

 

IONIC Capital Management invests your money in nuclear weapon producers. Tell them to divest!

Don’t Bank on the Bomb!

[signature]

Share this with your friends:

   

Send this email!

Click on “Read the Petition” if you want to modify the text!

On www.dontbankonthebomb.com I saw that you invest in nuclear weapons producers. I was shocked to read this, and I object to this, because you also invest my money and I don’t want to be associated in any way with the production of these weapons of mass destruction.

I have also learned that you can choose not to invest in nuclear weapon producers, and that more and more financial institutions already exclude any such company.

So take their good example, and divest!

With kind regards,

Ivory Investment Management (United States)

Ivory Investment Management (United States) has made an estimated US$ 89 million available to the nuclear weapons companies listed in this report since January 2012.

Ivory Investment Management (United States) owns or manages shares of the nuclear weapon companies for an amount of US$ 89 million (see table below). Only holdings of 0.50% or more of the outstanding shares at the most recent available filing date are included.

Shareholdings managed by Ivory Investment Management

Company Country Total value
(US$ mln)
% Outstanding Filing date
Aecom United States 89 1.92 31-3-2015

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed in August 2015.

Hall of Shame Methodology

Which financial institutions are involved in the financing of the selected nuclear weapon companies was researched using annual reports, stock exchange filings and other publications of the companies concerned, archives of trade magazines, local newspapers and the financial press as well as specialized financial databases (Thomson ONE, Bloomberg). Used resources are clearly mentioned.

Financial institutions can be involved in financing companies by providing corporate loans, by assisting companies with share- and bond issues, and by (managing) investments in shares and bonds of these companies. For asset managers and pension funds, the only relevant type of financial involvement is (managing) share- and bondholdings of the selected companies.

In this report, we have focussed on the financial institutions which are found to have most significant financing relationships with one or more of the selected nuclear weapon companies. To select these financial institutions, the following criteria are used:

  • All financial institutions involved in loans and underwriting deals for one or more of the companies since 1 January 2011;
  • All financial institutions which own at least 0.5% of the outstanding shares or bonds of at least one of the companies.

What is included

Each section provides the following information for each financial institution:

The types of financial relations which the financial institution has with one or more nuclear weapon companies. The relations are grouped by loans, investment banking and asset management. Financial activities are listed alphabetically by nuclear weapons company for each category.

The name of the receiving company, the amount, the date and (if known) the purpose for each financial relation.

All data is presented in tables. For loans, the first column represents the names of the selected companies that received the loans, the second column shows which subsidiary or part of the selected company has issued the loan. The third column is the purpose of the loan. The fourth column (# FI’s), shows the number of financial institutes participating in loans as loans are often offered by a syndicate of financial institutions. The fifth column represents the value of the total loan offered by the syndicate to the company. The sixth column is the amount for which this specific financial institute participated in the loan. This amount is calculated depending on the role the financial institute plays in the syndicate, as explained below. The last column shows the date the loan was issued.

The tables for underwriting of share and bond issuances have the same columns. The method for calculating these the value per financial institute can be below.

The tables for share and bondholdings managed by the financial institutions show the nuclear weapon producing companies, the country in which this company is situated, the percentage of all bonds or shares outstanding hold or managed by the specific institution, and the total value of the shares or bonds held by the financial institution in the indicated company.

When comparing this report with last years report please keep in mind that we have excluded some Indian sources due to recently identified errors in the Bloomberg databases regarding Indian Mutual Funds.

The financial institutions identified include banks, pension funds, sovereign wealth funds, insurance companies and asset managers from many different countries. They have provided various types of financial services to nuclear weapon companies.