Singapore

Two Financial Institutions currently invest or make available an estimated

USD$ 486.60 million in nuclear weapons companies.

DBS Group

DBS Group currently has an estimated USD$ 456.60 million invested or available for the nuclear weapons producers identified in this report.

Loans

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. DBS Bank, a subsidiary of DBS Group, was part of the syndicate of 37 banks, participating with an estimated amount of US$ 40.7 million.1

 

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. DBS New York, a subsidiary of DBS Group, participatedin the syndicate of 35 banks, providing an estimated amount of US$ 83.6 million.2

 

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. DBS Bank, a subsidiary of DBS Group, participated in the 39 bank syndicate, committing an estimated amount of US$ 111.4 million.3

 

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. DBS Bank, a subsidiary of DBS Group, participated in the 29 bank syndicate, committing anamount of US$ 50 million.4

 

In August 2011, Lockheed Martin secured a five-year revolving credit facility with a value of US$ 1,500 million at a base rate of LIBOR+100.000bps. The proceeds were used for general corporate purposes. DBS Bank, a subsidiary of DBS Group, participated in the 21 bank syndicate, committing anamount of US$ 37.5 million.5

 

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. DBS Bank, a subsidiary of DBS Group, participated in the 19 bank syndicate, committing an estimated amount of US$ 55.3 million.6

 

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. DBS Bank, a subsidiary of DBS Group, participated in the 23 bank syndicate, committing an estimated amount of US$ 46.3 million.7

 

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. DBS Bank, a subsidiary of DBS Group, was part of the syndicate of 16 banks, participating with an estimated amount of US$ 72.5 million.8

 

United Overseas Bank

United Overseas Bank currently has an estimated USD$ 30.00 million invested or available for the nuclear weapons producers identified in this report.

Loans

In October 2010, Alliant Techsystems secured a US$ 1,000 million five-year credit facility, comprising a US$ 600 million revolver and a US$ 400 million term loan. The proceeds were used for refinancing, to increase working capital and to finance capital expenditures and acquisitions. United Overseas Bank was part of the syndicate of 20 banks and provided US$ 30 million.9

 

 

 


  1. 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. 

  2. Thomson ONE Banker, “Tearsheet 2900612116 and 2900613116”, Thomson ONE Banker (www.thomsonone.com), 07 December 2011. 

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

  4. 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. 

  5. Lockheed Martin, “Form 8-K”, Lockheed Martin, 26 August 2011, available at http://phx.corporate-ir.net/phoenix.zhtml?c=83941&p=irol-sec&secCat01.1_rs=11&secCat01.1_rc=10&control_symbol=; Thomson ONE Banker, “Tearsheet 2767733115”, Thomson ONE Banker (www.thomsonone.com), 26 August 2011. 

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

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

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

  9. Thomson ONE Banker, “Tearsheet 2632374115”, Thomson ONE Banker (www.thomsonone.com), 7 October 2010; Alliant Techsystems, “United States Securities and Exchange Commission: Form 8-K”, Alliant Techsystems, 7 October 2010 (www.sec.gov/Archives/edgar/data/866121/000110465910052198/a10-19273_18k.htm). 

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).