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InfraDefence financings register

186 defence financings since 2015: bonds, convertibles, bank and acquisition facilities, export credit and government money. Filter, search and open any deal for its terms and primary sources.

Dated records

Financing history, 2015–2026.

BondsBank and acquisition loansConvertiblesGovernment and export credit

By date of signing, pricing or announcement. Volume in US$bn at approximate annual average rates; 2026 runs to 27 Oct 2026. Select a bar to open its records.

Show the figures
YearBondsBank and acquisition loansConvertiblesGovernment and export creditTotal
20157 · US$15.2bn–––7 · US$15.2bn
20166 · US$7.2bn2 · US$1.3bn1 · US$300m–9 · US$8.8bn
201712 · US$21.1bn–––12 · US$21.1bn
20186 · US$20.6bn6 · US$9.3bn–1 · US$0m13 · US$30.0bn
20198 · US$6.0bn6 · US$7.9bn––14 · US$13.9bn
202021 · US$22.8bn–1 · US$350m–22 · US$23.1bn
20216 · US$7.5bn8 · US$14.3bn––14 · US$21.8bn
20222 · US$6.3bn8 · US$12.5bn1 · US$34m1 · US$1.3bn12 · US$20.1bn
202313 · US$22.8bn1 · US$730m1 · US$1.1bn1 · US$899m16 · US$25.5bn
20247 · US$18.7bn1 · US$1.0bn2 · US$882m4 · US$11.1bn14 · US$31.7bn
202512 · US$10.2bn5 · US$3.7bn2 · US$1.8bn9 · US$3.6bn28 · US$19.3bn
20268 · US$6.0bn2 · US$2.2bn–15 · US$8.9bn25 · US$17.2bn
Register composition

What is being financed?

Bonds: 108Bank and acquisition loans: 39Convertibles: 8Government and export credit: 31
186financings
Bonds10858%
Bank and acquisition loans3921%
Convertibles84%
Government and export credit3117%

One instrument per record. Volume counts funded debt and government money at US$ equivalents; programme-level and conditional commitments are counted, not added.

Show the figures
InstrumentFinancingsFunded (US$)
Bonds108US$164.4bn
Bank and acquisition loans39US$53.0bn
Convertibles8US$4.5bn
Government and export credit31US$25.7bn
Arrangers

Who leads the deals.

BofA SecuritiesUS$116.2bn
J.P. MorganUS$105.6bn
Wells FargoUS$94.9bn
MizuhoUS$86.3bn
CitigroupUS$83.2bn
Goldman SachsUS$82.3bn
SMBC NikkoUS$46.7bn
US BancorpUS$42.0bn

Bookrunner, arranger and direct lender roles from the filings. Lead volume is the full deal size, not each bank's share. All lenders →

Show the figures
BankLead volume (US$)Lead roles
BofA SecuritiesUS$116.2bn51
J.P. MorganUS$105.6bn51
Wells FargoUS$94.9bn40
MizuhoUS$86.3bn29
CitigroupUS$83.2bn40
Goldman SachsUS$82.3bn34
Morgan StanleyUS$75.0bn29
SMBC NikkoUS$46.7bn31
Credit Agricole CIBUS$43.4bn16
US BancorpUS$42.0bn25

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The instruments

Randeep Bubbra
InfraDefence Weekly

The week in defence finance, read from the filings.

Deals, terms and the clauses behind them, for the people financing primes, mid-tiers and new defence technology. By Randeep Bubbra.

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