Overall deals of the year

  • 16 Jan 2004
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EuroWeek’s deal of the year awards are voted for by the leading bond market houses. First, banks were asked to nominate their favourite deals in each category. That gave us a shortlist, from which the best deals were again chosen by votes from the market. We present the complete list of winners — without forgetting a few of the year’s losers.
In this poll, as in other polls in the Review, full bank names have been abbreviated where necessary.



OVERALL DEALS OF THE YEAR
1 United Kingdom $3bn 2.25% July 2008Citigroup, Deutsche Bank, Goldman Sachs, Morgan Stanley
2HBOS Treasury ServicesUK covered bond Eu3bn 3.75% July 2010Citigroup, Dresdner Kleinwort Wasserstein, Goldman Sachs
3France TélécomEu4.9bn three tranche
(Eu1bn 6% September 2007/Eu3.5bn 7.25% January 2013/£250m 8% December 2017)
BNP Paribas, Citigroup, Deutsche Bank, HSBC, Morgan Stanley
4Republic of ItalyInflation-linked BTPeil Eu7bn 1.65% September 2008Banca IMI, MCC Capitalia, Morgan Stanley
5KfWEu5bn 3.125% November 2006Citigroup, Credit Suisse First Boston, HSBC
6Republic of ItalyEu7bn 5% August 2034Citigroup, Deutsche Bank, ING, JP Morgan, Unicredit Banca Mobiliare
7HeinekenEu1.1bn dual tranche
(Eu500m 4.375% February 2010/Eu600m 5% November 2013)
Barclays Capital, Citigroup, Credit Suisse First Boston, JP Morgan
8ErapEu5.4bn dual tranche
(Eu3bn 2.875% July 2006/Eu2.4bn 3.75% April 2010)
ABN Amro, Barclays Capital, Deutsche Bank, JP Morgan, SG
9Volkswagen International FinanceEu4.5bn three tranche
(Eu2bn 4.125% May 2009/Eu2bn 4.625% May 2013/Eu500m 5.375% May 2018)
BNP Paribas, Citigroup, Dresdner Kleinwort Wasserstein, ING, JP Morgan
10AvivaEu2.3bn three tranche
(£800m 6.125% perp NC19/Eu650m 5.25% October 2023 NC10/Eu500m 5.70% perp NC12)
Barclays Capital, Goldman Sachs, Lehman Brothers, SG
SOVEREIGNS, SUPRANATIONALS and AGENCIES
Dollar Sovereign/Supranational/Agency
1 United Kingdom $3bn 2.25% 2008Citigroup, Deutsche Bank, Goldman Sachs, Morgan Stanley
2Republic of Italy$4bn dual tranche
($2bn 4.375% June 2013/$2bn 5.375% June 2033)
Citigroup, Goldman Sachs, Merrill Lynch
3=KfW$3bn 3.375% January 2008Barclays Capital, Bear Stearns, Goldman Sachs
3=World Bank$1bn 3.625% May 2013Citigroup, JP Morgan
Euro Syndicated Sovereign
1 Republic of Italy Eu7bn 1.65% Sept 2008 BTPeiBanca IMI, MCC Capitalia, Morgan Stanley
2=Republic of FinlandEu6.5bn July 2006ABN Amro, Deutsche Bank, Merrill Lynch, Nordea
2=Hellenic RepublicEu5bn 3.5% April 2008Lehman Brothers, Morgan Stanley
3Republic of ItalyEu7bn 5% August 2034Citigroup, Deutsche Bank, ING, JP Morgan, Unicredit Banca Mobiliare
Euro Syndicated Supranational/Agency
1 KfW Eu5bn 3.125% Nov 2006Citigroup, CSFB, HSBC
2ErapEu5.4bn dual tranche
(Eu3bn 2.875% July 2006/Eu2.4bn 3.75% April 2010)
ABN Amro, Barclays Capital, Deutsche Bank, JP Morgan, SG
3European Investment BanklEu5bn 3.25% October 2008Barclays Capital, BNP Paribas, Morgan Stanley
Sub-Sovereign/Municipal
1 Freistaat Bayern Eu1bn 3.75% January 2010BayernLB, HVB
2Province of QuebecEu1bn 4.25% February 2013BayernLB, Citigroup, ING, SG
3Land Nordrhein-WestfalenEu2bn 3.25% June 2010HVB, Morgan Stanley, WestLB
CORPORATES
General Corporate
1 France Télécom Eu4.9bn three tranche
(Eu1bn 6% September 2007/Eu3.5bn 7.25% January 2013/£250m 8% December 2017)
BNP Paribas, Citigroup, Deutsche, HSBC, Morgan Stanley
2Volkswagen International FinanceEu4.5bn three tranche
(Eu2bn 4.125% May 2009/Eu2bn 4.625% May 2013/Eu500m 5.375% May 2018)
BNP Paribas, Citigroup, DrKW, ING, JP Morgan
3General Motors/GMAC$17.8bn multi-tranche package
General Motors
($1bn 7.125% July 2013/$1.25bn 8.25% July 2023/$3bn 8.375% July 2033/$3.5bn convertible)Citigroup, Merrill Lynch, Morgan Stanley
(Eu1bn 7.25% July 2013/Eu1.5bn 8.375% July 2033)Banc One, Barclays, BNPP, Deutsche Bank, Morgan Stanley
(£350m 8.375% Dec 2015/£250m 8.875% July 2023)Barclays Capital, Goldman Sachs, Merrill Lynch
GMAC
$1bn 4.5% July 2006BofA, JPM, Morgan Stanley
(Eu1.5bn July 2005 FRN/Eu1.5bn 6% July 2008)ABN Amro, CSFB, Deutsche Bank, HSBC, Lehman, Merrill Lynch
Financial Institutions
1 Aviva Eu2.5bn three tranche
(£800m 6.125% perp NC19/Eu650m 5.25% Oct 2023 NC10/Eu500m 5.7% perp NC12)
Barclays Capital, Goldman Sachs, Lehman Brothers, SG
2HBOSLower tier two Eu1bn 4.875% March 2015Dresdner Kleinwort Wasserstein, Morgan Stanley
3Munich Re FinanceEu3.4bn dual tranche
(Eu3bn 6.75% June 2023 NC10/£300m 7.625% June 2028)
Deutsche Bank, UBS
High Yield
1 ABB International Finance Eu650m 6.5% Nov 2011Barclays, Deutsche Bank, HVB
2Vivendi UniversalEu1.4bn dual tranche
($975m 6.25% July 2008/Eu500m 6.25% July 2008)
Goldman Sachs
3AvioEu200m 9.625% 2013 NC5Citigroup, Lehman Brothers
NEW TO 2003
New Borrowers
1 Heineken Eu1.1bn dual tranche
(Eu500m 4.375% Feb 2010/Eu600m 5% November 2013)
Barclays Capital, Citigroup, Credit Suisse First Boston, JP Morgan
2HBOS Treasury ServicesUK covered bonds Eu3bn 3.75% July 2010Citigroup, Dresdner Kleinwort Wasserstein, Goldman Sachs
3ErapEu4bn 3.375% April 2008BNP Paribas, Deutsche Bank, HSBC, UBS
CURRENCIES
Dollar Straights
1 United Kingdom $3bn 2.25% July 2008Citigroup, Deutsche Bank, Goldman Sachs, Morgan Stanley
2Telecom Italia$4bn three tranche
($1bn 4% October 2008/$2bn 5.25% October 2013/$1bn 6.375% October 2033
BofA, Citigroup, CSFB, JP Morgan, Lehman, Merrill Lynch
3General Electric Capital Corp$5bn 5% February 2013Citigroup, Lehman Brothers, Morgan Stanley
Euro Straights
1 Republic of Italy Eu7bn 5% August 2034Citigroup, Deutsche Bank, ING, JP Morgan, UBM
2HBOS Treasury ServicesUK covered bond Eu3bn 3.75% July 2010Citigroup, Dresdner Kleinwort Wasserstein, Goldman Sachs
3France TélécomEu4.5bn dual tranche
(Eu1bn 6% September 2007/Eu3.5bn 7.25% January 2013)
BNP Paribas, Citigroup, Deutsche Bank, HSBC, Morgan Stanley
Yen
1= HBOS ¥60bn 0.55% August 2013Daiwa SMBC, UBS
1= Republic of Poland ¥25bn 0.84% July 2010Daiwa SMBC, Mizuho
2Abbott Japan¥100bn four tranche
(¥10bn 0.77% May 2007/¥50bn 1.05% November 2008/¥15bn 1.51% November 2010/¥25bn 1.95% November 2013)
Nikko Citigroup, TMI
3GE Japan Funding¥85bn four tranche
(¥15bn September 2005 FRN/¥40bn 0.77% September 2006/¥10bn 1.23% September 2008/¥20bn 2.03% September 2013)
Morgan Stanley, Nomura, TMI
Sterling
1 Aviva £800m 6.125% perp NC19Barclays, Goldman, Lehman, SG
2Crédit Agricoleupper tier two £750m 5% perp NC15Barclays Capital, CAI, UBS
3=Anglo American Capital£300m 5.125% Dec 2010HSBC, Royal Bank of Scotland
3=Cadbury Schweppes£400m 4.875% Dec 2010Royal Bank of Scotland
Swiss Francs
1 Hellenic Republic Sfr500m 2.125% April 2009Credit Suisse First Boston
2RWE Finance BVSfr500m 2% December 2008UBS (books), BNP Paribas (joint lead)
3Province of OntarioSfr300m 2.5% July 2013ABN Amro, BNP Paribas, Deutsche Bank
Australian dollars
1 KfW A$1.665bn 4.2% April 2006Nomura
New Zealand dollars
1 Rabobank NZ$150m 6.25% 2008TD Securities
Canadian dollars
1 Province of Ontario C$1bn 4.5% April 2008TD Securities
2Canada Housing TrustC$4.8bn 4.1% December 2008CIBC, Deutsche Bank, Merrill Lynch, Scotia, TD Securities
Nordic Currencies
1 General Electric Capital Corp Skr4.4bn four tranche
(Skr250m November 2004/Skr2bn November 2005 FRN/Skr2bn 4.25% November 2006/Skr170m November 2006 FRN)
Deutsche Bank, Handelsbanken Trading
2EksportfinansNkr500m 5.75% March 2007ABN Amro
Emerging Market Currencies
1 Republic of Austria Huf13bn 6% February 2007TD Securities
2European Investment BankHuf27.5bn 6.25% March 2006Deutsche Bank
Uridashi
1 New Zealand A$400m 4.3% June 2008Daiwa SMBC
NOTABLE ASSET CLASSES 
Covered Bonds (including structured covered bonds)
1 HBOS Treasury Services Eu3bn 3.75% July 2010Citigroup, DrKW, Goldman Sachs
2AyT Cédulas CajasEu3.8bn 4% March 2013Crédit Agricole Indosuez, CDC IXIS, Citigroup, HVB
3Depfa ACS BankEu4bn 3.25% April 2008Credit Suisse First Boston, Deutsche Bank, Morgan Stanley
Floating Rate Notes
1 Allied Irish Banks Eu1.25bn September 2008JP Morgan, UBS
2Abbey NationalEu1bn May 2008BNP Paribas, Deutsche Bank
3=BAT International FinanceEu1bn April 2006Barclays Capital, Dresdner Kleinwort Wasserstein, SG
3=Ford Motor Credit CoEu1bn January 2006Bank of America, DrKW, Lehman Brothers
WORST DEAL
1 EADS Eu500m 5.5% Sept 2018Citigroup, Commerzbank, HSBC, SG
2DaimlerChrysler$2.5bn 4.05% June 2008BofA, Barclays, Deutsche Bank
3Electricité de FranceEu850m 5.625% Feb 2033ABN, BNP Paribas, JP Morgan
  • 16 Jan 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%