Germany

8 Financial Institutions currently invest or make available an estimated USD$ 10,154.11 million in nuclear weapons companies.

Allianz

Allianz has currently has an estimated USD$ 1,469.37 million invested or available for the nuclear weapons producers identified in this report.

Asset management

Table 1 provides an overview of the nuclear weapon companies in which Allianz owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Table 1         Shareholdings of Allianz

Company Country % of all outstanding shares Value (US$ mln) Filing date (range)
Alliant Techsystems United States 5.31 123.89 31-Mar-2013
Lockheed Martin United States 1.08 332.62 31-Mar-2012 until 31-Dec-2013
Northrop Grumman United States 2.36 389.50 28-Feb-2013 until 31-May-2013
Serco United Kingdom 1.70 74.99 27-Feb-2013 until 11-Jun-2013

Source: Thomson ONE Banker, “Share ownership”, Thomson ONE Banker (www.thomsonone.com), viewed July 2013.

 

Table 2 provides an overview of the nuclear weapon companies in which Allianz owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Table 2         Bondholdings of Allianz

Company Country % of all outstanding bonds Value (US$ mln) Filing date (range)
Alliant Techsystems United States 2.14 11.76 31-Mar-13
BAE Systems United Kingdom 2.32 110.56 31-Mar-13
Boeing United States 1.27 114.84 31-Mar-13
GenCorp United States 4.09 26.98 31-May-13
Honeywell International United States 3.03 183.74 31-Mar-13
Huntington Ingalls Industries United States 2.33 27.91 31-Mar-13 until 30-Jun-13
Northrop Grumman United States 1.13 66.60 31-Mar-13
Safran France 0.80 5.98 31-Mar-13

Source: Bloomberg Database, “Bond holdings”, Bloomberg Database, viewed July 2013.

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BayernLB

Bayern LB currently has an estimated USD$ 875.70 million invested or available for the nuclear weapons producers identified in this report.

Loans

In March 2010, Babcock International secured a £ 400 million (US$ 601 million) bridge loan due October 2011. The company also entered into a £ 600 million (US$ 902 million) backstop facility which was comprised of a £ 305 million (US$ 459 million) revolver due June 2012 and a £ 295 million (US$ 443 million) term loan due March 2011. The proceeds of the facilities were used to back the company’s £ 1.3 billion (US$ 2.0 billion) bid for VT Group, a British defence and services company. The acquisition was completed in June 2010. BayernLB participated in the six bank syndicate, committing an estimated US$ 225 million.1

In June 2011, Babcock International secured a £500 million (US$ 810 million) five-year credit facility. The proceeds were used for refinancing and general corporate purposes. BayernLB participated in the syndicate of ten banks, providing an estimated US$ 81 million.2

In December 2010, BAE Systems secured a five-year revolving credit facility with a value of £ 2,000 million (US$ 3,161 million). The proceeds were used for refinancing and general corporate purposes. BayernLB was part of the 24 bank syndicate, committing an estimated amount of US$ 132 million.3

In March 2010, Boeing secured a credit facility with a value of US$ 865 million, due October 2011. The proceeds were used for general corporate purposes. BayernLB participated in the 12 bank syndicate, committing anamount of US$ 60 million.4

In November 2010, Boeing secured a one-year revolving credit facility with a value of US$ 2,376 million. The proceeds were used to refinance the loan from November 2009 and for general corporate purposes. BayernLB was part of the syndicate of 37 banks, participating with an estimated amount of US$ 40.7 million.5

In November 2011, Boeing entered into a US$ 4,600 million revolving credit facility. The facility was split in two tranches: a one-year US$ 2,300 million tranche at a base rate of LIBOR+82.500bps, which replaced the loan secured in November 2010,and a five-year US$ 2,300 million tranche at a base rate of LIBOR+79.500bps.The proceeds were used for refinancing bank debt and general corporate purposes. BayernLB participatedin the syndicate of 35 banks, providing an estimated amount of US$ 83.6 million.6

In April 2011, EADS secured a five-year revolving credit facility with a value of € 3,000 million (US$ 4,345.3 million), at a base rate of EURIBOR+37.500bps. The proceeds were used for refinancing and for general corporate purposes. BayernLB participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.7

In September 2012, Northrop Grumman secured a US$ 500 million revolving credit facility due September 2013 at a base rate of LIBOR+75.000bps. The proceeds were used for refinancing bank debt and general corporate purposes. BayernLB participated in the 28 bank syndicate, committing an estimated amount of US$ 12.5 million.8

In October 2011, Rolls-Royce secured a five-year revolving credit facility with a value of £ 1,000 million (US$ 1,543.2 million). The proceeds were used to refinance two existing syndicated facilities and for general corporate purposes. BayernLB participated in the 23 bank syndicate, committing an estimated amount of US$ 46.3 million.9

Investment banking

In April 2013, Boeing issued bonds with a total value of US$ 350 million with an interest rate of0.950% due November 2018. The proceeds were used for general corporate purposes. BayernLB participatedin the syndicate of 26 banks, underwriting an estimated amount of US$ 4 million.10

In February 2013, ThyssenKrupp issued bonds with a total value of € 1,250 million (US$ 1669.6 million) with an interest rate of4.000% due August 2018. The proceeds were used for general corporate purposes. BayernLB participatedin the syndicate of four banks, underwriting an estimated amount of US$ 417.4 million.11

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Commerzbank

Commerzbank currently has an estimated USD$ 2,368.91 million invested or made available for the nuclear weapons producers identified in this report.

Loans

In December 2010, BAE Systems secured a five-year revolving credit facility with a value of £ 2,000 million (US$ 3,161 million). The proceeds were used for refinancing and general corporate purposes. Commerzbank was part of the 24 bank syndicate, committing an estimated amount of US$132 million.12

In November 2010, Boeing secured a one-year revolving credit facility with a value of US$ 2,376 million. The proceeds were used to refinance the loan from November 2009 and for general corporate purposes. Commerzbank was part of the syndicate of 37 banks, participating with an estimated amount of US$ 40.7 million.13

In December 2011, Boeing entered into a US$ 4,600 million revolving credit facility. The facility was split in two tranches: a one-year US$ 2,300 million tranche at a base rate of LIBOR+82.500bps, which replaced the loan secured in November 2010,and a five-year US$ 2,300 million tranche at a base rate of LIBOR+79.500bps.The proceeds were used for refinancing bank debt and general corporate purposes. Commerzbank participatedin the syndicate of 35 banks, providing an estimated amount of US$ 83.6 million.14

In April 2011, EADS secured a five-year revolving credit facility with a value of € 3,000 million (US$ 4,345.3 million), at a base rate of EURIBOR+37.500bps. The proceeds were used for refinancing and for general corporate purposes. Commerzbank participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.15

In May 2011, Rolls-Royce & Partners Finance, a subsidiary of Rolls-Royce, entered into a US$ 1,050 million term loan due May 2014. The proceeds were used for general corporate purposes. Commerzbank participated in the 19 bank syndicate, committing an estimated amount of US$ 55.3 million.16

In October 2011, Rolls-Royce secured a five-year revolving credit facility with a value of £ 1,000 million (US$ 1,543.2 million). The proceeds were used to refinance two existing syndicated facilities and for general corporate purposes. Commerzbank participated in the 23 bank syndicate, committing an estimated amount of US$ 46.3 million.17

In December 2010, Safran secured a five-year revolving credit facility with a value of € 1,600 million (US$ 2,122.3 million). The proceeds were used for general corporate purposes. Commerzbank participated in the 12 bank syndicate, committing an estimated amount of US$ 121.3 million.18

In March 2012, Serco secured a £ 730 million (US$ 1,159.39 million) revolving credit facility due March 2017. The proceeds were used for refinancing the company’s existing US$ 500 million and £ 400 million credit facilities and certain other bilateral facilities, and for general corporate purposes. Commerzbank was part of the syndicate of 16 banks, participating with an estimated amount of US$ 72.5 million.19

In December 2010, Thales secured a five-year revolving credit facility with a value of € 1,500 million (US$ 1,978.6 million). The proceeds were used to refinance a loan which was due to mature in December 2011 and for general corporate purposes. Commerzbank participated in the 20 bank syndicate, committing an estimated amount of US$ 107.9 million.20

Investment banking

In July 2011, Boeing Capital Corporation, a subsidiary of Boeing, issued bonds for a total value of US$ 750 million. The issue was split in two tranches: a US$ 500 million 2.125% tranche due August 2016 and a US$ 250 million 2.900% tranche due August 2018. The proceeds were used for general corporate purposes and to reduce indebtedness. Commerzbank participatedin the syndicate of 31 banks, underwriting anamount of US$ 7.5 million.21

In April 2013, Boeing issued bonds with a total value of US$ 350 million with an interest rate of0.950% due November 2018. The proceeds were used for general corporate purposes. Commerz Markets, a subsidiary of Commerzbank, participatedin the syndicate of 26 banks, underwriting an estimated amount of US$ 4 million.22

In July 2011, ThyssenKrupp issued new shares, raising € 1,630.5million (US$ 2,341.7 million). Commerzbank participatedin the syndicate of three banks, underwriting an estimated amount of US$ 780.6 million.23

In February 2012, ThyssenKrupp issued bonds with a total value of € 1,250 million (US$ 1654.3 million) with an interest rate of4.375% due February 2017. The proceeds were used for general corporate purposes. Commerzbank participatedin the syndicate of four banks, underwriting an estimated amount of US$ 413.6 million.24

Asset management

Table 3 provides an overview of the nuclear weapon companies in which Commerzbank owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Table 3         Shareholdings of Commerzbank

Company Country % of all outstanding shares Value (US$ mln) Filing date (range)
EADS Netherlands 0.58 260.72 31-May-2013
GenCorp United States 0.79 6.37 31-Mar-2013
ThyssenKrupp Germany 1.60 165.82 31-May-2013

Source: Thomson ONE Banker, “Share ownership”, Thomson ONE Banker (www.thomsonone.com), viewed July 2013.

 

Nuclear Weapons Investment Policy

Commerzbank is one of the leading banks for private and corporate customers in Germany and Poland. In total, Commerzbank boasts nearly 15 million private customers, as well as 1 million business and corporate clients.25

Commerzbank’s weapons policy is described in its Guidelines Governing Armaments Transactions, which states that Commerzbank does not accompany financial transactions related to weapons thought controversial, including nuclear weapons.26

Furthermore, Commerzbank’s “weapon guidelines” prohibit any direct participation in delivering weapons or military equipment to areas of conflict and tension.27

The guideline applies to the entire company and includes corporate finance, trade finance, and investment banking activities. Commerzbank does not offer own products that invest in producers of controversial weapons. The same applies to funds from other investment companies that it recommends to its private clients. The policy does not apply to passively managed funds like funds following an index.28

While the Commerzbank policy looks good at first glance, upon further inspection it does not apply to all financial products (like index trackers), and it does not comprehensively apply to the nuclear weapons programmes in France, UK and US. It is included here for informational purposes and to acknowledge that there is an existing policy.

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Deutsche Bank

Deutsche Bank currently has an estimated USD$ 4,764.43 million invested or available for the nuclear weapons producers identified in this report.

Loans

In December 2010, BAE Systems secured a five-year revolving credit facility with a value of £ 2,000 million (US$ 3,161 million). The proceeds were used for refinancing and general corporate purposes. Deutsche Bank was part of the 24 bank syndicate, committing an estimated amount of US$ 132 million.29

In November 2010, Boeing secured a one-year revolving credit facility with a value of US$ 2,376 million. The proceeds were used to refinance the loan from November 2009 and for general corporate purposes. Deutsche Bank was part of the syndicate of 37 banks, participating with an estimated amount of US$ 40.7 million.30

In November 2011, Boeing entered into a US$ 4,600 million revolving credit facility. The facility was split in two tranches: a one-year US$ 2,300 million tranche at a base rate of LIBOR+82.500bps, which replaced the loan secured in November 2010,and a five-year US$ 2,300 million tranche at a base rate of LIBOR+79.500bps.The proceeds were used for refinancing bank debt and general corporate purposes. Deutsche Bank participatedin the syndicate of 35 banks, providing an estimated amount of US$ 83.6 million.31

In April 2011, EADS secured a five-year revolving credit facility with a value of € 3,000 million (US$ 4,345.3 million), at a base rate of EURIBOR+37.500bps. The proceeds were used for refinancing and for general corporate purposes. Deutsche Bank participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.32

In March 2011, Honeywell International secured a five-year revolving credit facility with a value of US$ 2,800 million. The proceeds were used for general corporate purposes. Deutsche Bank participated in the 29 bank syndicate, committing anamount of US$ 160 million.33

In April 2012, Honeywell International secured a US$ 3,000 million revolving credit facility due April 2017. The proceeds were used for refinancing bank debt and general corporate purposes. Deutsche Bank participated in the 16 bank syndicate, committing an estimated amount of US$ 182.1 million.34

In September 2012, Northrop Grumman secured a US$ 500 million revolving credit facility due September 2013 at a base rate of LIBOR+75.000bps. The proceeds were used for refinancing bank debt and general corporate purposes. Deutsche Bank participated in the 28 bank syndicate, committing an estimated amount of US$ 12.5 million.35

In May 2011, Rolls-Royce & Partners Finance, a subsidiary of Rolls-Royce, entered into a US$ 1,050 million term loan due May 2014. The proceeds were used for general corporate purposes. Deutsche Bank participated in the 19 bank syndicate, committing an estimated amount of US$ 55.3 million.36

In October 2011, Rolls-Royce secured a five-year revolving credit facility with a value of £ 1,000 million (US$ 1,543.2 million). The proceeds were used to refinance two existing syndicated facilities and for general corporate purposes. Deutsche Bank participated in the 23 bank syndicate, committing an estimated amount of US$ 46.3 million.37

In December 2010, Safran secured a five-year revolving credit facility with a value of € 1,600 million (US$ 2,122.3 million). The proceeds were used for general corporate purposes. Deutsche Bank participated in the 12 bank syndicate, committing an estimated amount of US$ 121.3 million.38

In December 2010, Thales secured a five-year revolving credit facility with a value of € 1,500 million (US$ 1,978.6 million). The proceeds were used to refinance a loan which was due to mature in December 2011 and for general corporate purposes. Deutsche Bank participated in the 20 bank syndicate, committing an estimated amount of US$ 107.9 million.39

Investment banking

In October 2011, BAE Systems issued bonds for a total value of US$ 1,250 million. The issue was divided in three tranches: a US$ 500 million 4.750% tranche due October 2021, a US$ 350 million 3.500% tranche due October 2016 and a US$ 400 million 5.800% tranche due October 2041. The proceeds were used for general corporate purposes and to reduce indebtedness. Deutsche Bank Securities, a subsidiary of Deutsche Bank, was one of the five bookrunners, underwriting an estimated amount of US$ 250 million.40

In July 2011, Boeing Capital Corporation, a subsidiary of Boeing, issued bonds for a total value of US$ 750 million. The issue was split in two tranches: a US$ 500 million 2.125% tranche due August 2016 and a US$ 250 million 2.900% tranche due August 2018. The proceeds were used for general corporate purposes and to reduce indebtedness. Deutsche Bank participatedin the syndicate of 31 banks, underwriting anamount of US$ 81.7 million.41

In April 2013, Boeing issued bonds with a total value of US$ 150 million. The bonds have a floating interest rate ofthree-month LIBOR+1bp and are due November 2014. The proceeds were used for general corporate purposes. Deutsche Bank Securities, a subsidiary of Deutsche Bank, participatedin the syndicate of three banks, underwriting an estimated amount of US$ 50 million.42

In July 2011, Honeywell International issued bonds with a total value of US$ 1,400 million. The issue was split in two tranches: a US$ 800 million4.250% tranche due March 2021 and a US$ 600 million5.375% tranche due March 2041. The proceeds were used to reduce indebtedness and for general corporate purposes. Deutsche Bank Securities, a subsidiary of Deutsche Bank, participated in the 14 bank syndicate,underwriting anamount of US$ 88.2 million.43

In October 2012, L&T Finance, a subsidiary of Larsen & Toubro, issued bonds with a total value of INR 700 million (US$ 13.1 million) with an interest rate of9.480% due October 2014. The proceeds were used for general corporate purposes. Deutsche Bank Securities, a subsidiary of Deutsche Bank, was the sole bookrunner of the issue, underwriting the whole amount of US$ 13.1 million.44

In November 2010, Northrop Grumman issued bonds with a total value of US$ 1,500 million. The issue was split in three tranches: a US$ 500 million 1.850% tranche due November 2015, a US$ 300 million 5.050%tranche due November 2040 and a US$ 700 million 3.500% tranche due March 2021. The proceeds were used for general corporate purposes, to reduce indebtedness and for working capital. Deutsche Bank Securities, a subsidiary of Deutsche Bank, participated in the 12 bank syndicate,underwriting anamount of US$ 150 million.45

In May 2013, Northrop Grumman issued bonds with a total value of US$ 2,850 million. The issue was split in three tranches: a US$ 1,050 million3.250% tranche due August 2023, a US$ 950 million4.750% tranche due June 2043 and a US$ 850 million1.750% tranche due June 2018. The proceeds were used for reducing indebtedness, future acquisitions, working capital, stock repurchase and general corporate purposes. Deutsche Bank Securities, a subsidiary of Deutsche Bank, participated in the 26 bank syndicate,underwriting an estimated amount of US$ 356.3 million.46

In October 2010 Thales issued bonds with a value of € 600 million (US$ 835.2 million). The bonds have an interest rate of 2.750% and are due October 2016. The proceeds were used for general corporate purposes and for refinancing. Deutsche Bank participated in the six bank syndicate,underwriting an estimated amount of US$ 139.2 million.47

In March 2013, Thales issued bonds with a total value of € 800 million (US$ 1,036.7 million). The issue was split in two tranches: a € 300 million(US$ 388.8 million) 2.250% tranche due March 2021 and a € 500 million(US$ 647.9 million) 1.625% tranche due March 2018. The proceeds were used for general corporate purposes. Deutsche Bank participated in the seven bank syndicate,underwriting an estimated amount of US$ 148.1 million.48

In July 2011, ThyssenKrupp issued new shares, raising € 1,630.5million (US$ 2,341.7 million). Deutsche Bank participatedin the syndicate of three banks, underwriting an estimated amount of US$ 780.6 million.49

Asset management

Table 4 provides an overview of the nuclear weapon companies in which Deutsche Bank owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Table 4         Shareholdings of Deutsche Bank

Company Country % of all outstanding shares Value (US$ mln) Filing date (range)
Alliant Techsystems United States 1.74 40.69 31-Mar-2013 until 30-Apr-2013
BAE Systems United Kingdom 0.97 183.15 24-Sep-2012 until 06-Jun-2013
EADS Netherlands 0.83 369.85 24-Sep-2012 until 31-May-2013
General Dynamics United States 0.83 210.90 31-Mar-2013 until 31-May-2013
Huntington Ingalls Industries United States 0.78 20.87 31-Mar-2013 until 30-Apr-2013
Lockheed Martin United States 0.55 170.98 31-Mar-2013 until 31-May-2013
Northrop Grumman United States 2.38 396.24 28-Feb-2013 until 31-May-2013
Rolls-Royce United Kingdom 0.57 173.89 31-Dec-2012 until 03-Jun-2013
ThyssenKrupp Germany 0.86 88.97 31-Dec-2012 until 31-May-2013
URS United States 0.86 30.90 31-Mar-2013 until 30-Apr-2013

Source: Thomson ONE Banker, “Share ownership”, Thomson ONE Banker (www.thomsonone.com), viewed July 2013.

 

Table 5 provides an overview of the nuclear weapon companies in which Deutsche Bank owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Table 5         Bondholdings of Deutsche Bank

Company Country % of all outstanding bonds Value (US$ mln) Filing date (range)
GenCorp United States 2.14 14.10 30-Apr-13 until 31-May-13
Huntington Ingalls Industries United States 0.57 6.79 30-Apr-13 until 31-May-13

Source: Bloomberg Database, “Bond holdings”, Bloomberg Database, viewed July 2013.

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DZ Bank

DZ Bank currently has an estimated USD$ 111.40 million invested or available for the nuclear weapons producers identified in this report.

Loans

In April 2011, EADS secured a five-year revolving credit facility with a value of € 3,000 million (US$ 4,345.3 million), at a base rate of EURIBOR+37.500bps. The proceeds were used for refinancing and for general corporate purposes. DZ Bank participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.50

Helaba

Helaba currently has an estimated USD$ 239.20 million invested or available for the nuclear weapons producers identified in this report.

Loans

In April 2011, EADS secured a five-year revolving credit facility with a value of € 3,000 million (US$ 4,345.3 million), at a base rate of EURIBOR+37.500bps. The proceeds were used for refinancing and for general corporate purposes. Helaba participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.51

In May 2011, Rolls-Royce & Partners Finance, a subsidiary of Rolls-Royce, entered into a US$ 1,050 million term loan due May 2014. The proceeds were used for general corporate purposes. Helaba participated in the 19 bank syndicate, committing an estimated amount of US$ 55.3 million.52

In March 2012, Serco secured a £ 730 million (US$ 1,159.39 million) revolving credit facility due March 2017. The proceeds were used for refinancing the company’s existing US$ 500 million and £ 400 million credit facilities and certain other bilateral facilities, and for general corporate purposes. Helaba was part of the syndicate of 16 banks, participating with an estimated amount of US$ 72.5 million.53

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KfW

KfW currently has an estimated USD$ 166.70 million invested or available for the nuclear weapons producers identified in this report.

Loans

In April 2011, EADS secured a five-year revolving credit facility with a value of € 3,000 million (US$ 4,345.3 million), at a base rate of EURIBOR+37.500bps. The proceeds were used for refinancing and for general corporate purposes. KfW participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.54

In May 2011, Rolls-Royce & Partners Finance, a subsidiary of Rolls-Royce, entered into a US$ 1,050 million term loan due May 2014. The proceeds were used for general corporate purposes. KfW International Finance, a subsidiary of KfW, participated in the 19 bank syndicate, committing an estimated amount of US$ 55.3 million.

Sparkassen Finanzgruppe

Sparkassen Finanzgruppe currently has an estimated USD$ 117.70 million invested or available for the nuclear weapons producers identified in this report.

Asset management

Table 6 provides an overview of the nuclear weapon companies in which Sparkassen Finanzgruppe owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Table 6         Shareholdings of Sparkassen Finanzgruppe

Company Country % of all outstanding shares Value (US$ mln) Filing date (range)
ThyssenKrupp Germany 1.00 117.70 31-Dec-2012 until 30-Apr-2013

Source: Thomson ONE Banker, “Share ownership”, Thomson ONE Banker (www.thomsonone.com), viewed July 2013.

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  1. Thomson ONE Banker, “Tearsheet 2572235115 and 2572235115”, Thomson ONE Banker (www.thomsonone.com), 29 March 2010; Bloomberg Database, “ Loan Finder”, Bloomberg Database, viewed July 2013; Espana, Z., “ Babcock Intl secures loan for agreed VT offer”, Website Reuters, 23 March 2010 (www.reuters.com/article/2010/03/23/us-babcock-intl-loan-idUSTRE62M3ZQ20100323); Babcock International, “Completion of Acquisition”, Babcock International, 8 July 2010 (www.babcock.co.uk/media/188630/completion_of_acquisition.pdf). 

  2. Thomson ONE Banker, ”Tearsheet 2754346115”, Thomson ONE Banker (www.thomsonone.com), 17 June 2011; Babcock International, “Annual Report 2013”, Babcock International, 5 June 2013; Babcock International, “Interim Management Statement”, Babcock International, 7 July 2011 (www.babcock.co.uk/media/53009/interim_management_statement_press_release.pdf 

  3. Thomson ONE Banker, “Tearsheet 2674588115”, Thomson ONE Banker (www.thomsonone.com), 8 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed July 2013. 

  4. Thomson ONE Banker, “Tearsheet 2566490115”, Thomson ONE Banker (www.thomsonone.com), 17 March 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  5. Thomson ONE Banker, “Tearsheet 2645490115”, Thomson ONE Banker (www.thomsonone.com), 12 November 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011; The Boeing Company, “364-Day Credit Agreement”, The Boeing Company, 12 November 2010. 

  6. Thomson ONE Banker, “Tearsheet 2900612116 and 2900613116”, Thomson ONE Banker (www.thomsonone.com), 28 November 2011. 

  7. Thomson ONE Banker, “Tearsheet 2705573115”, Thomson ONE Banker (www.thomsonone.com), 14 April 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  8. Thomson ONE Banker, “Tearsheet 2886058116”, Thomson ONE Banker (www.thomsonone.com), 04 September 2012. 

  9. Thomson ONE Banker, “Tearsheet 2779465115”, Thomson ONE Banker (www.thomsonone.com), 3 October 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  10. Thomson ONE Banker, “Tearsheet 2517586001”, Thomson ONE Banker (www.thomsonone.com), 30 April 2013. 

  11. Thomson ONE Banker, “Tearsheet 2497132006”, Thomson ONE Banker (www.thomsonone.com), 18 February 2013. 

  12. Thomson ONE Banker, “Tearsheet 2674588115”, Thomson ONE Banker (www.thomsonone.com), 8 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed July 2013. 

  13. Thomson ONE Banker, “Tearsheet 2645490115”, Thomson ONE Banker (www.thomsonone.com), 12 November 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011; The Boeing Company, “364-Day Credit Agreement”, The Boeing Company, 12 November 2010. 

  14. Thomson ONE Banker, “Tearsheet 2900612116 and 2900613116”, Thomson ONE Banker (www.thomsonone.com), 06 December 2011. 

  15. Thomson ONE Banker, “Tearsheet 2705573115”, Thomson ONE Banker (www.thomsonone.com), 14 April 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  16. Thomson ONE Banker, “Tearsheet 2749948116, 2749949116 and 2749950116”, Thomson ONE Banker (www.thomsonone.com), 16 May 2011. 

  17. Thomson ONE Banker, “Tearsheet 2779465115”, Thomson ONE Banker (www.thomsonone.com), 3 October 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  18. Thomson ONE Banker, “Tearsheet 2670327115”, Thomson ONE Banker (www.thomsonone.com), 8 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011; Safran, “Safran signs with 13 banks a Euro 1.6 billion credit facility with a 5-year maturity”, Safran, 9 December 2010, available at http://www.safran-group.com/site-safran-en/press-media/press-releases/2010-698/article/safran-signs-with-13 banks-a-euro-10785?10785 

  19. Thomson ONE Banker, “Tearsheet 2822928116”, Thomson ONE Banker (www.thomsonone.com), 28 March 2012. 

  20. Thomson ONE Banker, “Tearsheet 2674952115”, Thomson ONE Banker (www.thomsonone.com), 17 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  21. Thomson ONE Banker, “Tearsheets 2332822001 and 2332945001”, Thomson ONE Banker (www.thomsonone.com), 28 July 2011; Bloomberg Database, “Corporates by ticker”, Bloomberg Database, viewed November 2011. 

  22. Thomson ONE Banker, “Tearsheet 2517586001”, Thomson ONE Banker (www.thomsonone.com), 30 April 2013. 

  23. Thomson ONE Banker, “Tearsheet 2326589095”, Thomson ONE Banker (www.thomsonone.com), 07 July 2011. 

  24. Thomson ONE Banker, “Tearsheet 2390122006”, Thomson ONE Banker (www.thomsonone.com), 21 February 2012. 

  25. Commerzbank, “Commerzbank at a Glance”, available at https://www.commerzbank.com/en/hauptnavigation/konzern/commerzbank_im__berblick/commerzbank_ueberblick.html, last viewed July 2013. 

  26. Commerzbank, “Richtlinien und Positionen: Rüstungsgeschäfte” (“Policies and Positions: arms trade”), Commerzbank website (https://www.nachhaltigkeit.commerzbank.de/de/internetportal/governance/internerichtlinien/rstungsgeschfte/rstungsgeschfte.html), viewed 27 April 2012. Facing finance, “Commerzbank”, available at http://www.facing-finance.org/en/database/investors/commerzbank/, last viewed July 2013. 

  27. Facing finance, “Commerzbank”, available at http://www.facing-finance.org/en/database/investors/commerzbank/, last viewed July 2013. 

  28. Facing finance, “Commerzbank”, available at http://www.facing-finance.org/en/database/investors/commerzbank/, last viewed July 2013. 

  29. Thomson ONE Banker, “Tearsheet 2674588115”, Thomson ONE Banker (www.thomsonone.com), 8 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed July 2013. 

  30. Thomson ONE Banker, “Tearsheet 2645490115”, Thomson ONE Banker (www.thomsonone.com), 12 November 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011; The Boeing Company, “364-Day Credit Agreement”, The Boeing Company, 12 November 2010. 

  31. Thomson ONE Banker, “Tearsheet 2900612116 and 2900613116”, Thomson ONE Banker (www.thomsonone.com), 18 November 2011. 

  32. Thomson ONE Banker, “Tearsheet 2705573115”, Thomson ONE Banker (www.thomsonone.com), 14 April 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  33. Honeywell International, “Five “Year Credit Agreement”, Honeywell International, 31 March 2011; Thomson ONE Banker, “Tearsheet 2706948115”, Thomson ONE Banker (www.thomsonone.com), 31 March 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  34. Thomson ONE Banker, “Tearsheet 2835497116”, Thomson ONE Banker (www.thomsonone.com), 02 April 2012. 

  35. Thomson ONE Banker, “Tearsheet 2886058116”, Thomson ONE Banker (www.thomsonone.com), 04 September 2012. 

  36. Thomson ONE Banker, “Tearsheet 2749948116, 2749949116 and 2749950116”, Thomson ONE Banker (www.thomsonone.com), 16 May 2011. 

  37. Thomson ONE Banker, “Tearsheet 2779465115”, Thomson ONE Banker (www.thomsonone.com), 3 October 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  38. Thomson ONE Banker, “Tearsheet 2670327115”, Thomson ONE Banker (www.thomsonone.com), 8 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011; Safran, “Safran signs with 13 banks a Euro 1.6 billion credit facility with a 5-year maturity”, Safran, 9 December 2010, available at http://www.safran-group.com/site-safran-en/press-media/press-releases/2010-698/article/safran-signs-with-13 banks-a-euro-10785?10785 

  39. Thomson ONE Banker, “Tearsheet 2674952115”, Thomson ONE Banker (www.thomsonone.com), 17 December 2010; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  40. Thomson ONE Banker, “Tearsheet 2351100006, 2351096006 and 2351013006”, Thomson ONE Banker (www.thomsonone.com), 5 October 2011; Bloomberg Database, “Corporates by ticker”, Bloomberg Database, viewed July 2013; BAE Systems, “BAE Systems plc – Interim Management Statement for the period from 1 July 2011 to 11 October 2011”, BAE Systems, 12 October 2011 (www.baesystems.com/Newsroom/NewsReleases/autoGen_111912103212.html). 

  41. Thomson ONE Banker, “Tearsheets 2332822001 and 2332945001”, Thomson ONE Banker (www.thomsonone.com), 28 July 2011; Bloomberg Database, “Corporates by ticker”, Bloomberg Database, viewed November 2011. 

  42. Thomson ONE Banker, “Tearsheet 2517519001”, Thomson ONE Banker (www.thomsonone.com), 30 April 2013. 

  43. Honeywell International, “Prospectus supplement: $800,000,000 4.250% Senior Notes Due 2021, $600,000,000 5.375% Senior Notes Due 2041”, Honeywell International, 14 February 2011; Bloomberg Database, “Corporates by ticker”, Bloomberg Database, viewed November 2011; Thomson ONE Banker, “Tearsheets 2280086001 and 2280355001”, Thomson ONE Banker (www.thomsonone.com), 14 February 2011. 

  44. Thomson ONE Banker, “Tearsheet 2491283101”, Thomson ONE Banker (www.thomsonone.com), 25 October 2012. 

  45. Thomson ONE Banker, “Tearsheet”, Thomson ONE Banker (www.thomsonone.com), 01 November 2010. 

  46. Thomson ONE Banker, “Tearsheet 2525118001, 2525403001 and 2525406001”, Thomson ONE Banker (www.thomsonone.com), 28 May 2013. 

  47. Thomson ONE Banker, “Tearsheet 2228987006”, Thomson ONE Banker (www.thomsonone.com), 12 October 2010; Bloomberg Database, “Corporates by ticker”, Bloomberg Database, viewed November 2011. 

  48. Thomson ONE Banker, “Tearsheet 2504221006 and 2504223006”, Thomson ONE Banker (www.thomsonone.com), 13 March 2013. 

  49. Thomson ONE Banker, “Tearsheet 2326589095”, Thomson ONE Banker (www.thomsonone.com), 07 July 2011. 

  50. Thomson ONE Banker, “Tearsheet 2705573115”, Thomson ONE Banker (www.thomsonone.com), 14 April 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  51. Thomson ONE Banker, “Tearsheet 2705573115”, Thomson ONE Banker (www.thomsonone.com), 14 April 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

  52. Thomson ONE Banker, “Tearsheet 2749948116, 2749949116 and 2749950116”, Thomson ONE Banker (www.thomsonone.com), 16 May 2011. 

  53. Thomson ONE Banker, “Tearsheet 2822928116”, Thomson ONE Banker (www.thomsonone.com), 28 March 2012. 

  54. Thomson ONE Banker, “Tearsheet 2705573115”, Thomson ONE Banker (www.thomsonone.com), 14 April 2011; Bloomberg Database, “Loan finder”, Bloomberg Database, viewed November 2011. 

This page contains country specific information from the 2013 Don’t Bank on the Bomb report. It identifies which financial institutions have significant financing relationships with one or more of the 27 nuclear weapons producers.

The financial institutions identified include banks, pension funds, sovereign wealth funds, insurance companies and asset managers. They have provided various types of financial services to nuclear weapon companies. The most important are loans, investment banking and asset management.

All sources of financing provided since 1 January 2010 to the companies listed were analysed from annual reports, financial databases and other sources. The financial institutions which are most significantly involved in the financing of one or more nuclear weapon companies are shown here. See the full report for both a summary and full description of all financial institutions which are found to have the most significant financing relationships with one or more of the selected nuclear weapon companies, by means of participating in bank loans, by underwriting share or bond issues and/or by share- or bondholdings (above a threshold of 0.5% of all outstanding shares or bonds).