Hall of Shame – H

The following financial institutions beginning with “H” 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.

“Hancock

Hancock Holding has made an estimated 32 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 Hancock Holding (United States) to the nuclear weapon companies since January 2011.

Loans provided by Hancock Holding

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Babcock & Wilcox The Babcock & Wilcox Co 700 32 22-May-2012

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

“Hartford

Hartford Financial Services has made an estimated 104 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 Hartford Financial Services (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Hartford Financial Services

Company Country Total value (US$ mln) % Outstanding Filing date
Boeing United States 42 0.64 31-Mar-2014
Gencorp United States 7 0.90 31-Mar-2014
Rockwell Collins United States 15 0.91 31-Mar-2014
Textron United States 40 1.85 31-Mar-2014

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

“Helaba

Helaba has made an estimated 223 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 Helaba (Germany) to the nuclear weapon companies since January 2011.

Loans provided by Helaba

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Airbus Group EADS 4,345 76 14-Mar-2011
Serco Serco Group PLC 1,159 72 21-Feb-2012
ThyssenKrupp ThyssenKrupp AG 2,751 75 07-Mar-2014

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

“Henderson

Henderson Group has made an estimated 33 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 Henderson Group (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Henderson Group

Company Country Total value (US$ mln) % Outstanding Filing date
Serco United Kingdom 33 0.99 07-Feb-2014

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

“Hirzel

Hirzel Capital Management has made an estimated 47 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 Hirzel Capital Management (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Hirzel Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 47 4.22 30-Jun-2014

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

“Hotchkis

Hotchkis & Wiley has made an estimated 13 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 Hotchkis & Wiley (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Hotchkis & Wiley

Company Country Total value (US$ mln) % Outstanding Filing date
Huntington Ingalls United States 13 1.07 30-Jun-2014

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

“Housing

Housing Development Finance Corporation has made an estimated 300 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 Housing Development Finance Corporation (India) to the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Housing Development Finance Corporation

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Holdings Ltd 51 10 14-Dec-2012
L&T Finance Ltd 6 2 27-Mar-2014
6 2 27-Mar-2014
6 2 27-Mar-2014
6 2 27-Mar-2014
10 5 10-Aug-2012
10 5 10-Aug-2012
24 24 17-Apr-2012
30 8 06-Sep-2014
37 7 29-Oct-2013
26 13 27-Apr-2012

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

The table below provides an overview of the nuclear weapon companies of which Housing Development Finance Corporation (India) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Housing Development Finance Corporation

Company Country Total value (US$ mln) % Outstanding Filing date
Larsen & Toubro India 220 1.37 31-Dec-2013

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

“HSBC

HSBC has made an estimated 3,394 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 HSBC (United Kingdom) to the nuclear weapon companies since January 2011.

Loans provided by HSBC

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 1,187 95 11-Aug-2014
1,050 84 11-Aug-2014
750 20 07-Jun-2013
600 40 23-Sep-2011
1,050 39 29-Jan-2014
1,050 70 13-Jul-2011
Airbus Group EADS 4,345 163 14-Mar-2011
CH2M CH2M Hill Cos Ltd 900 72 19-Apr-2012
Finmeccanica Finmeccanica SpA 3,001 106 09-Jul-2014
Fluor Fluor Corp 1,700 227 28-May-2014
1,800 240 28-May-2014
Honeywell International Honeywell International Inc 2,800 62 17-Mar-2011
3,000 129 30-Mar-2012
4,000 73 18-Nov-2013
Jacobs Engineering Jacobs Engineering Group Inc 460 39 07-Feb-2014
1,140 152 07-Feb-2014
Larsen & Toubro Larsen & Toubro Ltd 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
Safran Safran SA 1,320 176 21-Oct-2011
Serco Serco Group PLC 1,159 72 21-Feb-2012
ThyssenKrupp ThyssenKrupp AG 2,751 75 07-Mar-2014
URS URS Corp 500 43 02-Mar-2012
700 35 14-Oct-2011
1,000 50 14-Oct-2011
39 2 16-Dec-2013
655 39 16-Dec-2013
961 58 16-Dec-2013

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

The table below provides an overview of the underwriting of share issuances by HSBC (United Kingdom) for the nuclear weapon companies since January 2011.

Underwriting of share issuances by HSBC

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Holdings Ltd 280 28 30-Jul-2011
34 30-Jul-2011

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

The table below provides an overview of the underwriting of bond issuances by HSBC (United Kingdom) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by HSBC

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology Corp 800 80 17-Sep-2014
800 80 17-Sep-2014
Finmeccanica Finmeccanica Finance SA 339 20 17-Jan-2014
777 71 28-Nov-2012
950 59 26-Nov-2013
Honeywell International Honeywell International Inc 300 10 18-Nov-2013
700 23 18-Nov-2013
600 33 14-Feb-2011
800 44 14-Feb-2011
Larsen & Toubro L&T Finance Ltd 5 2 15-Dec-2011
6 2 15-Dec-2011
23 23 23-Nov-2011
30 10 15-Dec-2011
31 31 21-Dec-2012
33 33 23-Nov-2011
36 5 13-Jun-2014
45 15 15-Dec-2011
45 6 13-Jun-2014
36 9 14-Jun-2012
36 9 14-Jun-2012
Thales Thales SA 389 56 13-Mar-2013
648 93 13-Mar-2013
ThyssenKrupp ThyssenKrupp AG 1,670 417 18-Feb-2013

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

“Hua

Hua Nan Financial has made an estimated 49 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 Hua Nan Financial (Taiwan) to the nuclear weapon companies since January 2011.

Loans provided by Hua Nan 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

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

“Huntington

Huntington Bancshares has made an estimated 1,616 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 Huntington Bancshares (United States) to the nuclear weapon companies since January 2011.

Loans provided by Huntington Bancshares

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Boeing Boeing Co General 2,393 798 11-Jul-2013
2,453 818 11-Jul-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.