Hall of Shame – K

The following financial institutions beginning with “K” 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.

Kansas City Life Insurance Group (United States)

Kansas City Life Insurance Group has made an estimated 5 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 Kansas City Life Insurance Group (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Kansas City Life Insurance Group

Company Country Total value (US$ mln) % Outstanding Filing date
Fluor United States 5 0.60 31-Mar-2014

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

KBC Group (Belgium)

KBC Group has made an estimated 72 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 KBC Group (Belgium) to the nuclear weapon companies since January 2011.

Loans provided by KBC Group

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Serco Serco Group PLC 1,159 72 21-Feb-2012

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

Keeley Asset Management (United States)

Keeley Asset Management 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 nuclear weapon companies of which Keeley Asset Management (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Keeley Asset Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 41 3.70 30-Jun-2014

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

Kennedy Capital Management (United States)

Kennedy Capital Management 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 Kennedy 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 Kennedy Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 13 1.17 30-Jun-2014

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

Keycorp (United States)

Keycorp has made an estimated 96 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 Keycorp (United States) to the nuclear weapon companies since January 2011.

Loans provided by Keycorp

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 750 20 07-Jun-2013
600 40 23-Sep-2011
Alliant Techsystems Alliant Techsystems Inc 700 12 08-Oct-2013
1,010 17 08-Oct-2013
150 7 24-Jun-2014

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

KfW (Germany)

KfW has made an estimated 151 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 KfW (Germany) to the nuclear weapon companies since January 2011.

Loans provided by KfW

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

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

Kingstown Capital Management (United States)

Kingstown Capital Management has made an estimated 106 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 Kingstown 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 Kingstown Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Babcock & Wilcox United States 49 1.40 30-Jun-2014
Gencorp United States 57 5.11 30-Jun-2014

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

Knights of Columbus (United States)

Knights of Columbus has made an estimated 21 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 Knights of Columbus (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Knights of Columbus

Company Country Total value (US$ mln) % Outstanding Filing date
Fluor United States 8 0.96 31-Mar-2014
Textron United States 13 0.60 31-Mar-2014

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

Kohlberg Kravis Roberts & Co (United States)

Kohlberg Kravis Roberts & Co has made an estimated 154 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 Kohlberg Kravis Roberts & Co (United States) to the nuclear weapon companies since January 2011.

Loans provided by Kohlberg Kravis Roberts & Co

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
TASC TASC Inc 100 13 19-Apr-2011
575 72 19-Apr-2011
50 5 23-Apr-2014
250 25 23-Apr-2014
393 39 23-Apr-2014

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

Kotak Mahindra Bank (India)

Kotak Mahindra Bank has made an estimated 21 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 Kotak Mahindra Bank (India) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Kotak Mahindra Bank

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Holdings Ltd 11 6 15-Nov-2012
11 6 15-Nov-2012
L&T Finance Ltd 9 9 16-May-2012

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

Kuwait Investment Authority (Kuwait)

Kuwait Investment Authority has made an estimated 127 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 Kuwait Investment Authority (Kuwait) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Kuwait Investment Authority

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 127 0.56 07-Aug-2014

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