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Prospect News home > News index > List of issuers L > Headlines for League tables > News item

Published on 5/1/2014 in the Prospect News Preferred Stock Daily.

Analysis of preferred stock issuance for 13 months through April 2014

Columns are amount in billions of dollars, count of deals, percentage of total in dollars.

Dividend

4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
Less than 5% 0 1.000 0 0.005 0 0.050 0 0 0 0 0 0 0
5%-5.99% 5.576 3.788 0.338 1.500 0 0 0 0 0 0 1.775 0 4.600
6%-6.99% 0.320 0 0.115 1.800 0 0.385 1.650 0 2.165 2.850 1.480 1.225 3.500
7%-7.99% 0.606 0.277 0.138 0.180 0.195 2.045 0.311 0.087 0 0 0 0.855 0.050
8%-8.99% 0.200 0.182 0.060 0 0 0.076 0.095 0 0.020 0.150 0.222 0.127 0.100
9% and higher 0.110 0.126 0.007 0.052 0.130 0.025 0.074 0 0.029 0 0 0 0
Floater 0 0 0 0 0.271 0 0 0.409 0 0 0 0 0.741
NA 0.099 0.265 0.043 0.099 0.249 0.399 0.066 0.049 1.150 0.021 0.226 0.047 0.357
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
Less than 5% 1.000 2 0.055 2 0 0 0 0 0 0 0 0 1.055 4 1.055 4 0.00%
5%-5.99% 9.702 19 1.500 1 0 0 1.775 3 4.600 3 6.375 6 17.577 26 12.001 17 34.79%
6%-6.99% 0.435 4 2.185 3 3.815 7 5.555 7 3.500 5 9.055 12 15.490 26 15.170 23 49.41%
7%-7.99% 1.021 10 2.421 6 0.397 4 0.855 3 0.050 1 0.905 4 4.744 24 4.138 20 4.94%
8%-8.99% 0.443 5 0.076 2 0.115 2 0.499 6 0.100 2 0.599 8 1.233 17 1.033 16 3.27%
9% and higher 0.243 5 0.207 5 0.103 5 0 0 0 0 0 0 0.553 15 0.443 14 0.00%
Floater 0 0 0.271 3 0.409 1 0 0 0.741 1 0.741 1 1.421 5 1.421 5 4.04%
NA 0.407 19 0.747 36 1.265 31 0.293 21 0.357 7 0.651 28 3.070 114 2.971 106 3.55%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

Use of Proceeds
4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
Acquisition 0 0 0 0 0 0 0 0 0 0 0 0 0.050
Capex 0 0.075 0 0 0 0 0.053 0.409 0 0 0 0 0
GCP 5.801 2.856 0.142 3.089 0 2.532 1.850 0.087 2.193 2.150 3.455 1.365 8.050
No proceeds 0.099 0 0.043 0.049 0.124 0.091 0.066 0.049 0 0.021 0 0.047 0.037
Redeem notes 0 0 0.287 0 0.195 0.308 0 0 0.654 0 0 0 0
Refinance 0.325 2.402 0.050 0.135 0.271 0 0.206 0 0.222 0 0.226 0 1.061
Repay bank debt 0.110 0 0.118 0 0.130 0 0.008 0 0 0 0 0.526 0.050
Multiple/Other/NA 0.576 0.305 0.060 0.363 0.125 0.050 0.013 0 0.295 0.850 0.022 0.315 0.100
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
Acquisition 0 0 0 0 0 0 0 0 0.050 1 0.050 1 0.050 1 0.050 1 0.27%
Capex 0.075 1 0 0 0.462 2 0 0 0 0 0 0 0.537 3 0.537 3 0.00%
GCP 8.799 23 5.620 12 4.130 12 6.970 13 8.050 7 15.020 20 33.569 67 27.768 56 81.96%
No proceeds 0.142 17 0.264 32 0.115 23 0.067 19 0.037 4 0.105 23 0.626 95 0.527 87 0.57%
Redeem notes 0.287 1 0.503 3 0.654 4 0 0 0 0 0 0 1.445 8 1.445 8 0.00%
Refinance 2.777 10 0.406 5 0.428 4 0.226 2 1.061 4 1.287 6 4.898 25 4.573 23 7.02%
Repay bank debt 0.228 3 0.130 1 0.008 1 0.526 3 0.050 1 0.577 4 0.943 9 0.833 8 3.15%
Multiple/Other/NA 0.942 9 0.538 5 0.307 4 1.188 3 0.100 2 1.288 5 3.075 23 2.499 19 7.03%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

Upsized?
4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
Yes 0.056 1.113 0 0.032 0 0.863 1.300 0 0 0 0.615 0.225 0
No 6.855 4.526 0.701 3.605 0.845 2.118 0.896 0.544 3.364 3.021 3.088 2.028 9.348
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
Yes 1.169 4 0.894 2 1.300 1 0.840 3 0 0 0.840 3 4.203 10 4.147 9 4.58%
No 12.082 60 6.568 56 4.805 49 8.137 37 9.348 19 17.486 56 40.940 221 34.085 196 95.42%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

Versus Talk
4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
Lower 1.525 0.600 0 1.500 0 0 0.200 0 0 0 0.750 0 2.000
Low end 1.826 2.144 0.338 1.550 0 0 0.461 0 1.300 0 1.950 1.617 3.350
Middle 0.450 0.617 0.198 0.332 0.130 2.430 1.300 0 0.750 3.000 0.480 0.225 0.500
High end 0 0 0 0 0 0 0 0 0 0 0.022 0 0.550
NA 3.110 2.277 0.165 0.255 0.715 0.550 0.235 0.544 1.314 0.021 0.501 0.412 2.948
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
Lower 2.125 3 1.500 1 0.200 1 0.750 1 2.000 1 2.750 2 6.575 7 5.050 5 15.01%
Low end 4.308 12 1.550 2 1.761 5 3.566 9 3.350 4 6.916 13 14.535 32 12.709 28 37.74%
Middle 1.265 9 2.892 7 2.050 2 3.705 6 0.500 1 4.205 7 10.412 25 9.962 23 22.95%
High end 0 0 0 0 0 0 0.022 1 0.550 2 0.573 3 0.573 3 0.573 3 3.13%
NA 5.552 40 1.520 48 2.094 42 0.934 23 2.948 11 3.882 34 13.048 164 9.938 146 21.18%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

Greenshoe Exercised?
4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
Yes 1.386 0.886 0.391 0.032 0.130 1.530 0.260 0.037 0.021 0 0.200 0.442 0
No 5.525 4.752 0.310 3.605 0.715 1.450 1.937 0.508 3.343 3.021 3.503 1.812 9.348
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
Yes 2.663 16 1.692 5 0.317 5 0.641 4 0 0 0.641 4 5.314 30 3.928 23 3.50%
No 10.587 48 5.770 53 5.788 45 8.336 36 9.348 19 17.684 55 39.829 201 34.304 182 96.50%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

S&P Rating
4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
A+ 0 0 0 1.500 0 0 0 0 0 0 0 0 0
A 0 0 0 0 0 0 0 0 0 0 0 1.000 0
A- 1.000 0 0 0 0 0 0.250 0 0 0 0 0 0
BBB+ 0.500 0 0 0 0 0 0 0 0.750 0 0.750 0.225 0
BBB 0.675 1.000 0 1.800 0 0 0 0 0 2.850 0.350 0 0
BBB- 0.275 0 0 0 0 0.385 0 0 0.565 0 0 0 0
BB+ 0.250 0.887 0 0 0 0.863 0 0 0.850 0 0 0.315 2.250
BB 1.376 0 0 0 0 0.900 1.300 0 0 0 0 0 0
B+ 0 0 0 0 0 0 0 0 0 0 0 0 1.300
B- 0 0 0 0 0 0.026 0 0 0 0 0 0 0
CCC- 0 0 0 0 0.130 0 0 0 0 0 0 0 0
NR 2.835 3.751 0.701 0.336 0.715 0.807 0.646 0.544 1.199 0.171 2.603 0.713 5.798
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
A+ 0 0 1.500 1 0 0 0 0 0 0 0 0 1.500 1 1.500 1 0
A 0 0 0 0 0 0 1.000 1 0 0 1.000 1 1.000 1 1.000 1 5.46%
A- 1.000 1 0 0 0.250 1 0 0 0 0 0 0 1.250 2 0.250 1 0.00%
BBB+ 0.500 1 0 0 0.750 1 0.975 2 0 0 0.975 2 2.225 4 1.725 3 5.32%
BBB 1.675 4 1.800 2 0 0 3.200 3 0 0 3.200 3 6.675 9 6.000 7 17.46%
BBB- 0.275 1 0.385 1 0.565 2 0 0 0 0 0 0 1.225 4 0.950 3 0.00%
BB+ 1.137 3 0.863 1 0.850 1 0.315 1 2.250 2 2.565 3 5.415 8 5.165 7 14.00%
BB 1.376 2 0.900 1 1.300 1 0 0 0 0 0 0 3.576 4 2.200 2 0.00%
B+ 0 0 0 0 0 0 0 0 1.300 1 1.300 1 1.300 1 1.300 1 7.09%
B- 0 0 0.026 1 0 0 0 0 0 0 0 0 0.026 1 0.026 1 0.00%
CCC- 0 0 0.130 1 0 0 0 0 0 0 0 0 0.130 1 0.130 1 0.00%
NR 7.287 52 1.858 50 2.390 44 3.487 33 5.798 16 9.286 49 20.820 195 17.985 177 50.67%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

Industry Sector (by SIC code)
4/2013 5/2013 6/2013 7/2013 8/2013 9/2013 10/2013 11/2013 12/2013 1/2014 2/2014 3/2014 4/2014
Agriculture (0xxx) 0 0 0 0 0 0.283 0 0 0 0 0 0 0
Oil and gas (13xx) 0.110 0.086 0.125 0.007 0.130 0.025 0.053 0 0.008 0 0 0.175 0.050
Manufacturing (2xxx, 3xxx) 0 1.000 0 0 0 0 0 0 0 0 0 0 0
Transportation (4xxx) 0.150 0.050 0.020 0.095 0 0.076 0.008 0.459 0.021 0.150 0.200 0 0.050
Communications (48xx) 0 0 0 0 0 0 0 0 0 0 0 0 0.741
Electric, gas, sanitary services (49xx) 0 0 0.050 0 0 0 0 0 0 0 0.275 0.127 0
Wholesale (5xxx) 0 0 0 0 0 0 0 0 0 0 0 0.365 0
Finance, insurance, real estate (6xxx) 6.651 4.462 0.506 3.534 0.715 2.597 2.135 0.086 3.335 2.871 3.228 1.587 8.507
Services (7xxx) 0 0.040 0 0 0 0 0 0 0 0 0 0 0
Total 6.911 5.638 0.701 3.636 0.845 2.981 2.196 0.544 3.364 3.021 3.703 2.253 9.348

Q2/2013 Count Q3/2013 Count Q4/2013 Count Q1/2014 Count Q2/2014 Count YTD Count Total Count Last 12 months Count YTD Share
Agriculture (0xxx) 0 0 0.283 1 0 0 0 0 0 0 0 0 0.283 1 0.283 1 0.00%
Oil and gas (13xx) 0.321 6 0.162 3 0.062 2 0.175 1 0.050 1 0.225 2 0.770 13 0.660 12 1.23%
Manufacturing (2xxx, 3xxx) 1.000 1 0 0 0 0 0 0 0 0 0 0 1.000 1 1.000 1 0.00%
Transportation (4xxx) 0.220 3 0.171 5 0.488 4 0.350 4 0.050 1 0.400 5 1.279 17 1.129 16 2.18%
Communications (48xx) 0 0 0 0 0 0 0 0 0.741 1 0.741 1 0.741 1 0.741 1 4.04%
Electric, gas, sanitary services (49xx) 0.050 1 0 0 0 0 0.402 2 0 0 0.402 2 0.452 3 0.452 3 2.19%
Wholesale (5xxx) 0 0 0 0 0 0 0.365 1 0 0 0.365 1 0.365 1 0.365 1 1.99%
Finance, insurance, real estate (6xxx) 11.619 52 6.846 49 5.556 44 7.686 32 8.507 16 16.193 48 40.214 193 33.562 169 88.36%
Services (7xxx) 0.040 1 0 0 0 0 0 0 0 0 0 0 0.040 1 0.040 1 0.00%
Total 13.250 64 7.462 58 6.105 50 8.977 40 9.348 19 18.326 59 45.143 231 38.232 205 100.00%

Criteria

� Tables include all underwritten dollar-denominated offerings sold in the United States as public or Rule 144A deals reported to Prospect News.

� Convertibles are excluded.

� Offerings are included in the time period in which they price.

� Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the bookrunner. For multiple leads, the total value is divided equally among joint bookrunners.

� The headquarters location of the parent company is used for the country criteria (i.e. registrations in tax havens and offshore finance subsidiaries are ignored)

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	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
Less than 5%	0	1.000	0	0.005	0	0.050	0	0	0	0	0	0	0
5%-5.99%	5.576	3.788	0.338	1.500	0	0	0	0	0	0	1.775	0	4.600
6%-6.99%	0.320	0	0.115	1.800	0	0.385	1.650	0	2.165	2.850	1.480	1.225	3.500
7%-7.99%	0.606	0.277	0.138	0.180	0.195	2.045	0.311	0.087	0	0	0	0.855	0.050
8%-8.99%	0.200	0.182	0.060	0	0	0.076	0.095	0	0.020	0.150	0.222	0.127	0.100
9% and higher	0.110	0.126	0.007	0.052	0.130	0.025	0.074	0	0.029	0	0	0	0
Floater	0	0	0	0	0.271	0	0	0.409	0	0	0	0	0.741
NA	0.099	0.265	0.043	0.099	0.249	0.399	0.066	0.049	1.150	0.021	0.226	0.047	0.357
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Less than 5%	1.000	2	0.055	2	0	0	0	0	0	0	0	0	1.055	4	1.055	4	0.00%
5%-5.99%	9.702	19	1.500	1	0	0	1.775	3	4.600	3	6.375	6	17.577	26	12.001	17	34.79%
6%-6.99%	0.435	4	2.185	3	3.815	7	5.555	7	3.500	5	9.055	12	15.490	26	15.170	23	49.41%
7%-7.99%	1.021	10	2.421	6	0.397	4	0.855	3	0.050	1	0.905	4	4.744	24	4.138	20	4.94%
8%-8.99%	0.443	5	0.076	2	0.115	2	0.499	6	0.100	2	0.599	8	1.233	17	1.033	16	3.27%
9% and higher	0.243	5	0.207	5	0.103	5	0	0	0	0	0	0	0.553	15	0.443	14	0.00%
Floater	0	0	0.271	3	0.409	1	0	0	0.741	1	0.741	1	1.421	5	1.421	5	4.04%
NA	0.407	19	0.747	36	1.265	31	0.293	21	0.357	7	0.651	28	3.070	114	2.971	106	3.55%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%

Use of Proceeds
	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
Acquisition	0	0	0	0	0	0	0	0	0	0	0	0	0.050
Capex	0	0.075	0	0	0	0	0.053	0.409	0	0	0	0	0
GCP	5.801	2.856	0.142	3.089	0	2.532	1.850	0.087	2.193	2.150	3.455	1.365	8.050
No proceeds	0.099	0	0.043	0.049	0.124	0.091	0.066	0.049	0	0.021	0	0.047	0.037
Redeem notes	0	0	0.287	0	0.195	0.308	0	0	0.654	0	0	0	0
Refinance	0.325	2.402	0.050	0.135	0.271	0	0.206	0	0.222	0	0.226	0	1.061
Repay bank debt	0.110	0	0.118	0	0.130	0	0.008	0	0	0	0	0.526	0.050
Multiple/Other/NA	0.576	0.305	0.060	0.363	0.125	0.050	0.013	0	0.295	0.850	0.022	0.315	0.100
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Acquisition	0	0	0	0	0	0	0	0	0.050	1	0.050	1	0.050	1	0.050	1	0.27%
Capex	0.075	1	0	0	0.462	2	0	0	0	0	0	0	0.537	3	0.537	3	0.00%
GCP	8.799	23	5.620	12	4.130	12	6.970	13	8.050	7	15.020	20	33.569	67	27.768	56	81.96%
No proceeds	0.142	17	0.264	32	0.115	23	0.067	19	0.037	4	0.105	23	0.626	95	0.527	87	0.57%
Redeem notes	0.287	1	0.503	3	0.654	4	0	0	0	0	0	0	1.445	8	1.445	8	0.00%
Refinance	2.777	10	0.406	5	0.428	4	0.226	2	1.061	4	1.287	6	4.898	25	4.573	23	7.02%
Repay bank debt	0.228	3	0.130	1	0.008	1	0.526	3	0.050	1	0.577	4	0.943	9	0.833	8	3.15%
Multiple/Other/NA	0.942	9	0.538	5	0.307	4	1.188	3	0.100	2	1.288	5	3.075	23	2.499	19	7.03%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%

Upsized?
	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
Yes	0.056	1.113	0	0.032	0	0.863	1.300	0	0	0	0.615	0.225	0
No	6.855	4.526	0.701	3.605	0.845	2.118	0.896	0.544	3.364	3.021	3.088	2.028	9.348
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Yes	1.169	4	0.894	2	1.300	1	0.840	3	0	0	0.840	3	4.203	10	4.147	9	4.58%
No	12.082	60	6.568	56	4.805	49	8.137	37	9.348	19	17.486	56	40.940	221	34.085	196	95.42%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%

Versus Talk
	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
Lower	1.525	0.600	0	1.500	0	0	0.200	0	0	0	0.750	0	2.000
Low end	1.826	2.144	0.338	1.550	0	0	0.461	0	1.300	0	1.950	1.617	3.350
Middle	0.450	0.617	0.198	0.332	0.130	2.430	1.300	0	0.750	3.000	0.480	0.225	0.500
High end	0	0	0	0	0	0	0	0	0	0	0.022	0	0.550
NA	3.110	2.277	0.165	0.255	0.715	0.550	0.235	0.544	1.314	0.021	0.501	0.412	2.948
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Lower	2.125	3	1.500	1	0.200	1	0.750	1	2.000	1	2.750	2	6.575	7	5.050	5	15.01%
Low end	4.308	12	1.550	2	1.761	5	3.566	9	3.350	4	6.916	13	14.535	32	12.709	28	37.74%
Middle	1.265	9	2.892	7	2.050	2	3.705	6	0.500	1	4.205	7	10.412	25	9.962	23	22.95%
High end	0	0	0	0	0	0	0.022	1	0.550	2	0.573	3	0.573	3	0.573	3	3.13%
NA	5.552	40	1.520	48	2.094	42	0.934	23	2.948	11	3.882	34	13.048	164	9.938	146	21.18%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%

Greenshoe Exercised?
	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
Yes	1.386	0.886	0.391	0.032	0.130	1.530	0.260	0.037	0.021	0	0.200	0.442	0
No	5.525	4.752	0.310	3.605	0.715	1.450	1.937	0.508	3.343	3.021	3.503	1.812	9.348
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Yes	2.663	16	1.692	5	0.317	5	0.641	4	0	0	0.641	4	5.314	30	3.928	23	3.50%
No	10.587	48	5.770	53	5.788	45	8.336	36	9.348	19	17.684	55	39.829	201	34.304	182	96.50%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%

S&P Rating
	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
A+	0	0	0	1.500	0	0	0	0	0	0	0	0	0
A	0	0	0	0	0	0	0	0	0	0	0	1.000	0
A-	1.000	0	0	0	0	0	0.250	0	0	0	0	0	0
BBB+	0.500	0	0	0	0	0	0	0	0.750	0	0.750	0.225	0
BBB	0.675	1.000	0	1.800	0	0	0	0	0	2.850	0.350	0	0
BBB-	0.275	0	0	0	0	0.385	0	0	0.565	0	0	0	0
BB+	0.250	0.887	0	0	0	0.863	0	0	0.850	0	0	0.315	2.250
BB	1.376	0	0	0	0	0.900	1.300	0	0	0	0	0	0
B+	0	0	0	0	0	0	0	0	0	0	0	0	1.300
B-	0	0	0	0	0	0.026	0	0	0	0	0	0	0
CCC-	0	0	0	0	0.130	0	0	0	0	0	0	0	0
NR	2.835	3.751	0.701	0.336	0.715	0.807	0.646	0.544	1.199	0.171	2.603	0.713	5.798
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
A+	0	0	1.500	1	0	0	0	0	0	0	0	0	1.500	1	1.500	1	0
A	0	0	0	0	0	0	1.000	1	0	0	1.000	1	1.000	1	1.000	1	5.46%
A-	1.000	1	0	0	0.250	1	0	0	0	0	0	0	1.250	2	0.250	1	0.00%
BBB+	0.500	1	0	0	0.750	1	0.975	2	0	0	0.975	2	2.225	4	1.725	3	5.32%
BBB	1.675	4	1.800	2	0	0	3.200	3	0	0	3.200	3	6.675	9	6.000	7	17.46%
BBB-	0.275	1	0.385	1	0.565	2	0	0	0	0	0	0	1.225	4	0.950	3	0.00%
BB+	1.137	3	0.863	1	0.850	1	0.315	1	2.250	2	2.565	3	5.415	8	5.165	7	14.00%
BB	1.376	2	0.900	1	1.300	1	0	0	0	0	0	0	3.576	4	2.200	2	0.00%
B+	0	0	0	0	0	0	0	0	1.300	1	1.300	1	1.300	1	1.300	1	7.09%
B-	0	0	0.026	1	0	0	0	0	0	0	0	0	0.026	1	0.026	1	0.00%
CCC-	0	0	0.130	1	0	0	0	0	0	0	0	0	0.130	1	0.130	1	0.00%
NR	7.287	52	1.858	50	2.390	44	3.487	33	5.798	16	9.286	49	20.820	195	17.985	177	50.67%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%

Industry Sector (by SIC code)
	4/2013	5/2013	6/2013	7/2013	8/2013	9/2013	10/2013	11/2013	12/2013	1/2014	2/2014	3/2014	4/2014
Agriculture (0xxx)	0	0	0	0	0	0.283	0	0	0	0	0	0	0
Oil and gas (13xx)	0.110	0.086	0.125	0.007	0.130	0.025	0.053	0	0.008	0	0	0.175	0.050
Manufacturing (2xxx, 3xxx)	0	1.000	0	0	0	0	0	0	0	0	0	0	0
Transportation (4xxx)	0.150	0.050	0.020	0.095	0	0.076	0.008	0.459	0.021	0.150	0.200	0	0.050
Communications (48xx)	0	0	0	0	0	0	0	0	0	0	0	0	0.741
Electric, gas, sanitary services (49xx)	0	0	0.050	0	0	0	0	0	0	0	0.275	0.127	0
Wholesale (5xxx)	0	0	0	0	0	0	0	0	0	0	0	0.365	0
Finance, insurance, real estate (6xxx)	6.651	4.462	0.506	3.534	0.715	2.597	2.135	0.086	3.335	2.871	3.228	1.587	8.507
Services (7xxx)	0	0.040	0	0	0	0	0	0	0	0	0	0	0
Total	6.911	5.638	0.701	3.636	0.845	2.981	2.196	0.544	3.364	3.021	3.703	2.253	9.348

	Q2/2013	Count	Q3/2013	Count	Q4/2013	Count	Q1/2014	Count	Q2/2014	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Agriculture (0xxx)	0	0	0.283	1	0	0	0	0	0	0	0	0	0.283	1	0.283	1	0.00%
Oil and gas (13xx)	0.321	6	0.162	3	0.062	2	0.175	1	0.050	1	0.225	2	0.770	13	0.660	12	1.23%
Manufacturing (2xxx, 3xxx)	1.000	1	0	0	0	0	0	0	0	0	0	0	1.000	1	1.000	1	0.00%
Transportation (4xxx)	0.220	3	0.171	5	0.488	4	0.350	4	0.050	1	0.400	5	1.279	17	1.129	16	2.18%
Communications (48xx)	0	0	0	0	0	0	0	0	0.741	1	0.741	1	0.741	1	0.741	1	4.04%
Electric, gas, sanitary services (49xx)	0.050	1	0	0	0	0	0.402	2	0	0	0.402	2	0.452	3	0.452	3	2.19%
Wholesale (5xxx)	0	0	0	0	0	0	0.365	1	0	0	0.365	1	0.365	1	0.365	1	1.99%
Finance, insurance, real estate (6xxx)	11.619	52	6.846	49	5.556	44	7.686	32	8.507	16	16.193	48	40.214	193	33.562	169	88.36%
Services (7xxx)	0.040	1	0	0	0	0	0	0	0	0	0	0	0.040	1	0.040	1	0.00%
Total	13.250	64	7.462	58	6.105	50	8.977	40	9.348	19	18.326	59	45.143	231	38.232	205	100.00%