Hall of Shame – E

The following financial institutions beginning with “E” appear in the 2014 Don’t Bank on the Bomb Hall of Shame. For the full list, or to lookup financial institutions by country, please see here.

 

E.SUN Financial (Taiwan)

E.SUN Financial has made an estimated 134 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the loans provided by E.SUN Financial (Taiwan) to the nuclear weapon companies since January 2011.

Loans provided by E.SUN Financial

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology Refinancing 750 20 07-Jun-2013
Alliant Techsystems Alliant Techsystems Inc Acquisition 700 12 08-Oct-2013
1,010 17 08-Oct-2013
URS URS Corp General 700 35 14-Oct-2011
1,000 50 14-Oct-2011

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

Earnest Partners (United States)

Earnest Partners has made an estimated 101 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the nuclear weapon companies of which Earnest Partners (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Earnest Partners

Company Country Total value (US$ mln) % Outstanding Filing date
Huntington Ingalls United States 31 0.68 30-Jun-2014
URS United States 70 2.22 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Eastern Bank (United States)

Eastern Bank has made an estimated 29 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the loans provided by Eastern Bank (United States) to the nuclear weapon companies since January 2011.

Loans provided by Eastern Bank

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Alliant Techsystems Alliant Techsystems Inc Acquisition 700 12 08-Oct-2013
1,010 17 08-Oct-2013

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

Eaton Vance (United States)

Eaton Vance has made an estimated 563 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the nuclear weapon companies of which Eaton Vance (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Eaton Vance

Company Country Total value (US$ mln) % Outstanding Filing date
Boeing United States 472 0.52 30-Jun-2014
Jacobs Engineering United States 65 0.91 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

 

The table below provides an overview of the nuclear weapon companies of which Eaton Vance (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Eaton Vance

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 12 1.52 30-Jun-2014
Huntington Ingalls United States 14 1.20 30-Jun-2014

Source: Bloomberg, “Aggregated debt”, viewed in August 2014.

Edelweiss Financial Services (India)

Edelweiss Financial Services has made an estimated 22 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the loans provided by Edelweiss Financial Services (India) to the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Edelweiss Financial Services

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Ltd General 22 22 30-May-2011

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed August 2014.

EdgePoint Investment Group (Canada)

EdgePoint Investment Group has made an estimated 97 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the nuclear weapon companies of which EdgePoint Investment Group (Canada) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by EdgePoint Investment Group

Company Country Total value (US$ mln) % Outstanding Filing date
Jacobs Engineering United States 97 1.36 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Edmond de Rothschild (France)

Edmond de Rothschild has made an estimated 142 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the nuclear weapon companies of which Edmond de Rothschild (France) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Edmond de Rothschild

Company Country Total value (US$ mln) % Outstanding Filing date
Thales France 142 1.25 30-Sep-2013

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Epoch Investment Partners (United States)

Epoch Investment Partners has made an estimated 826 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the nuclear weapon companies of which Epoch Investment Partners (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Epoch Investment Partners

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 141 0.66 18-Apr-2014
Boeing United States 569 0.62 30-Jun-2014
Rockwell Collins United States 116 1.10 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Equator Securities (Indonesia)

Equator Securities has made an estimated 6 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the underwriting of bond issuances by Equator Securities (Indonesia) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Equator Securities

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Ltd General 9 3 19-Oct-2012
9 3 19-Oct-2012

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed August 2014.

Equirus Capital (India)

Equirus Capital has made an estimated 28 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the underwriting of share issuances by Equirus Capital (India) for the nuclear weapon companies since January 2011.

Underwriting of share issuances by Equirus Capital

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Holdings Ltd General 280 28 30-Jul-2011

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed August 2014.

Erste Bank (Austria)

Erste Bank has made an estimated 76 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the loans provided by Erste Bank (Austria) to the nuclear weapon companies since January 2011.

Loans provided by Erste Bank

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Airbus Group EADS General 4,345 76 14-Mar-2011

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

Evercore (United States)

Evercore has made an estimated 11,177 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the nuclear weapon companies of which Evercore (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Evercore

Company Country Total value (US$ mln) % Outstanding Filing date
Boeing United States 6,317 6.89 30-Jun-2014
General Dynamics United States 3,028 7.77 30-Jun-2014
Honeywell International United States 1,832 2.52 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Export Development Canada (Canada)

Export Development Canada has made an estimated 41 million USD available to the nuclear weapons producers listed in this report since January 2011.

 

The table below provides an overview of the loans provided by Export Development Canada (Canada) to the nuclear weapon companies since January 2011.

Loans provided by Export Development Canada

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro Larsen & Toubro Ltd Refinancing 47 5 27-Aug-2013
59 7 27-Aug-2013
64 7 27-Aug-2013
100 11 27-Aug-2013
100 11 27-Aug-2013

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

 

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.