GlobalCapital presents the nominations for its Syndicated Loan, Leveraged Finance and Private Debt Awards 2025.
The Awards, now in their 23rd year, are the only ones that recognise achievement in these markets based on the views of market participants.
The Awards are voted for in an online poll, conducted in October and November, and recognise performance between November 16, 2024 and November 12, 2025.
The winners will be announced at a gala dinner in London early next year.
This is a brief version of the nominations. The complete version including full information on the deals and bank syndicates is available here.
Many thanks to everyone who shared their expertise and knowledge of the market by voting, and congratulations from GlobalCapital to all the nominees.
DEALS OF THE YEAR NOMINEES
Deal of the Year
Ferrero International
€2.65bn-equivalent
September 2025 for acquisition of WK Kellogg
MasOrange
€10.95bn
May 2025 €6.25bn refinancing at MasOrange and €4.7bn infrastructure financing at PremiumFiber
Opella Healthcare Group
€6.2bn-equivalent
March 2025 for Clayton, Dubilier & Rice’s €10bn buyout of 50% of Opella from Sanofi
Tennet Germany
€12bn
September 2025 after new investors took 46% stake
Leveraged Loan of the Year
Apleona
€2.35bn-equivalent
April 2025 for Bain Capital’s buyout of Apleona from PAI Partners
Essential Home
€2.5bn-equivalent
September 2025 for Advent International’s buyout of 70% of Reckitt Benckiser’s Essential Home business
Froneri
$3.7bn-equivalent
August 2025 for dividend recap
Opella Healthcare Group
€6.2bn-equivalent
March 2025 for Clayton, Dubilier & Rice’s €10bn buyout of 50% of Opella from Sanofi
M&A Loan of the Year
Capgemini
$4.6bn-equivalent
July 2025 for $3.3bn acquisition of WNS and to refinance debt
Essential Home
€2.5bn-equivalent
September 2025 for Advent International’s buyout of 70% of Reckitt Benckiser’s Essential Home business
Ferrero International
€2.65bn-equivalent
September 2025 for acquisition of WK Kellogg
Merck KGaA
$3.8bn
May 2025 for acquisition of SpringWorks Therapeutics
Opella Healthcare Group
€6.2bn-equivalent
March 2025 for Clayton, Dubilier & Rice’s €10bn buyout of 50% of Opella from Sanofi
Emerging Market Loan of the Year
Côte d’Ivoire
$1.3bn
April 2025 one year term loan
Gold Fields
$2.3bn
October 2025 bridge facility for A$3.7bn acquisition of Gold Road, JV partner in Gruyere gold mine, Australia
Slovenské Elektrárne
€3.58bn
December 2024 refinancing
Infrastructure Finance Loan of the Year
Cascade Infrastructure
£2.5bn
August 2025 for the Haweswater Aqueduct Resilience Programme
Data4 Services
€2.22bn
December 2024 to finance data centres
Sizewell C
£5bn green term loan backed by Bpifrance
November 2025 for construction of nuclear power plant in UK
Renewables Loan of the Year
East Anglia Three
£3.6bn
July 2025 for construction of 1.4GW windfarm off Suffolk coast
MFW Bałtyk II and III
€6.3bn-equivalent
May 2025 for the Bałtyk II and III offshore wind farms
Nextwind Windpark
€1.8bn
November 2025 to buy and repower ageing wind farms
REGIONAL DEALS OF THE YEAR NOMINEES
Central and Eastern European Deal of the Year
Czechoslovak Group
€1.545bn
November 2024 for acquisition of Kinetic Group and refinancing
Slovenské Elektrárne
€3.58bn
December 2024 refinancing
Middle Eastern Deal of the Year
Abu Dhabi Future Energy Co (Masdar)
$1.1bn
August 2025 project financing for Al Sadawi Independent Power Producer 2GW solar plant with GD Power and Korea Electric Power
Jafurah Midstream Gas Co
$8.333bn
August 2025 for $11bn lease and leaseback acquisition by BlackRock’s Global Infrastructure Partners of a 49% stake in Jafurah Midstream Gas Co from Saudi Aramco via Green Palm Bidco
Public Investment Fund (through Saudi United Investment Co)
$7bn murabaha facilities
March 2025 add-on to existing facility
Qatar National Bank
$1.5bn
September 2025 refinancing
African Deal of the Year
Afreximbank
$571m
August 2025 Samurai loan for refinancing
Côte d’Ivoire
$1.3bn
April 2025 one year term loan
Gold Fields
$2.3bn
October 2025 bridge facility for A$3.7bn acquisition of Gold Road, JV partner in Gruyere gold mine, Australia
Harmony Gold Mining
$1.25bn
June 2025 for acquisition of Mac Copper
Turkish Deal of the Year
Antalya Alanya Otoyolu İnşaat Yatırım ve İşletme
€1.7bn
October 2025 for construction of 121km Antalya-Alanya Highway project sponsored by Limak
Koç Holding
$600m
October 2025 term loan
Tüpraş
$500m
May 2025 sustainability-linked term loan
Ülker Bisküvi Sanayi
$250m-equivalent
October 2025 term loans
German, Swiss and Austrian Deal of the Year
Siemens Energy Global
€9bn
June 2025 to refinance €11bn facility from March 2024
Tennet Germany
€12bn
September 2025 for new Tennet TSO GmbH after institutional investors took 46% stake
Varo Energy
$3.7bn
June 2025 borrowing base facility refinancing
Volkswagen
€12.5bn
March 2025 refinancing
UK and Irish Deal of the Year
BP
$8bn
January 2025
Froneri
$3.7bn-equivalent
August 2025 for dividend recap
Greencore
£825m
June 2025 for £1.05bn acquisition of Bakkavor
Rosebank Industries
$900m
July 2025 for acquisition of Electrical Components International
French Deal of the Year
Capgemini
$4.63bn-equivalent
July 2025 for $3.3bn acquisition of WNS and to refinance debt
Electricité de France
€6bn
November 2024 refinancing
Opella Healthcare Group
€6.2bn-equivalent
March 2025 for Clayton, Dubilier & Rice’s €10bn buyout of 50% of Opella from Sanofi
Schneider Electric
€5.48bn
July 2025 for acquisition of Schneider Electric India
Italian Deal of the Year
Ferrero International
€2.65bn-equivalent
September 2025 for acquisition of WK Kellogg
MediaForEurope
€3.4bn
March 2025 for €2.6bn acquisition of ProSiebenSat1 Media and to refinance debt
Prada
€1.5bn
April 2025 for acquisition of Gianni Versace
Iberian Deal of the Year
Indra Sistemas
€700m
May 2025 for acquisition of Clue Technologies SL
MasOrange
€10.95bn
May 2025 €6.25bn refinancing at MasOrange and €4.7bn infrastructure financing at PremiumFiber
Urbaser
€1.9bn
June 2025 for dividend recap and to refinance €1.25bn facility from 2021
Benelux Deal of the Year
Essential Home
€2.5bn-equivalent
September 2025 for Advent International’s buyout of 70% of Reckitt Benckiser’s Essential Home business
Interparking
€1.63bn
July 2025 for acquisition of Saba
SBM Offshore
$1.1bn
April 2025
Nordic Deal of the Year
Aker BP
$3.225bn
October 2025 refinancing
Carlsberg Breweries
€2bn
December 2024 refinancing
Stockholm Exergi
Skr12.6bn (€1.15bn)
April 2025 for construction of a carbon capture and storage plant
Vår Energi
$2.75bn
May 2025 refinancing
BANK AWARD NOMINEES
Loan House of the Year
BNP Paribas
Crédit Agricole
Deutsche Bank
HSBC
Best Arranger of Leveraged Loans
BNP Paribas
Goldman Sachs
JP Morgan
Best Arranger of M&A Loans
BNP Paribas
Citigroup
JP Morgan
Best Arranger of Mid-Cap Loans
BNP Paribas
Crédit Agricole
Lloyds Bank
Natixis
Best Arranger of Project Finance Loans
BNP Paribas
Crédit Agricole
MUFG
SMBC
Société Générale
Best Arranger of Trade Finance Loans
Citigroup
Santander
Société Générale
Best Arranger of Infrastructure and Renewables Loans
BNP Paribas
Crédit Agricole
Santander
Société Générale
Best Bank in Real Estate Finance
ING
Lloyds Bank
Natixis
Best Secondary Loans House
Citigroup
Deutsche Bank
HSBC
JP Morgan
Best Loan Agency House
Crédit Agricole
Deutsche Bank
HSBC
BANK REGIONAL AWARD NOMINEES
Best Arranger of Western European Loans
BNP Paribas
Crédit Agricole
HSBC
UniCredit
Best Arranger of Central and Eastern European Loans
ING
Raiffeisen Bank International
UniCredit
Best Arranger of Middle Eastern Loans
Abu Dhabi Commercial Bank
First Abu Dhabi Bank
Mizuho
Best Arranger of African Loans
First Abu Dhabi Bank
Nedbank
Rand Merchant Bank
Standard Chartered Bank
Best Arranger of Turkish Loans
Bank of America
Emirates NBD
ING
Best Arranger of German, Swiss and Austrian Loans
Commerzbank
Deutsche Bank
UniCredit
Best Arranger of UK and Irish Loans
Barclays
HSBC
Lloyds
NatWest
Best Arranger of French Loans
BNP Paribas
Crédit Agricole
Société Générale
Best Arranger of Italian Loans
Intesa Sanpaolo
Mediobanca
UniCredit
Best Arranger of Iberian Loans
BBVA
CaixaBank
Santander
Best Arranger of Benelux Loans
ABN Amro
ING
Rabobank
Best Arranger of Nordic Loans
DNB Carnegie
Nordea
SEB
SUSTAINABLE LENDING AWARD NOMINEES
Investment Grade Sustainability-Linked Loan of the Year
Nokia
€1.5bn
June 2025 sustainability-linked revolving credit facility for refinancing
RWE
€10bn
May 2025 three sustainability-linked revolving credit facilities to refinance facilities from 2019, 2022 and 2024
Solvay
€1.4bn
SeptEmber 2025 loans amended to include sustainability linkage to greenhouse gas emissions
Sustainability-Linked Leveraged Loan of the Year
No shortlist, winner to be announced at Awards Dinner
Best Arranger of Green and ESG-linked Loans
BNP Paribas
Crédit Agricole
ING
Société Générale
PRIVATE DEBT DEAL AND ARRANGER AWARD NOMINEES
Direct Lending Deal of the Year
Adevinta
€6.5bn
May 2025 increase of existing €4.8bn loan from 2023 with cut in interest rate
Karo Healthcare
€1.485bn
April 2025 to support KKR’s buyout of Karo from EQT
US Private Placement of the Year
Koninklijke Vopak
$625m-equivalent
June 2025 five to 11 year notes to refinance debt
Terminal Investment Ltd
$2.5bn
June 2025 seven, 10, 12 and 15 year notes for expansion
Vantage Towers
€2bn
May 2025 senior secured notes to refinance debt
Schuldschein of the Year
Aperam
€400m
October 2025 three, five and seven year loans
Asklepios Kliniken
€600m
October 2025 social Schuldschein to refinance Schuldscheine maturing until 2027
Porsche Automobil Holding
€1.5bn
June 2025 to repay bank loans from 2022 for acquisition of Porsche AG shares and to refinance early a Schuldschein issued in 2023
International Schuldschein of the Year
Acciona
€410m
July 2025 three, five, seven and 10 year green loans
Aperam
€400m
October 2025 three, five and seven year loans
ArcelorMittal
€700m
June 2025 three tranches of three to five year floating rate loans
US Private Placement Agent of the Year
BNP Paribas
Citigroup
NatWest Markets
Best Arranger of Schuldscheine
BayernLB
Helaba
LBBW
UniCredit
Best Arranger of International Schuldscheine
BayernLB
Commerzbank
Helaba
UniCredit
Best Schuldschein Law Firm
CMS
Noerr
White & Case
Best Law Firm for Private Debt
No shortlist, winner to be announced at Awards Dinner
INSTITUTIONAL INVESTOR AND PRIVATE LENDER AWARD NOMINEES
Best Institutional Lender in Syndicated Loans
Apollo Global Management
HPS Investment Partners
ICG
KKR
Best Direct Lending Firm
Ares Management
Blackstone
HPS Investment Partners
Best Subordinated Debt Investor
Clearlake Credit
HPS Investment Partners
Best Distressed Loan Investor
HIG Capital
Strategic Value Partners
Triton
BEST ADVISERS, LAW FIRMS AND TECH PROVIDERS NOMINEES
Best Corporate Finance Adviser
EY
Rothschild & Co
Best Law Firm for Syndicated Loans
A&O Shearman
Dentons
Linklaters
White & Case
Technology Provider of the Year for Loan Syndications
Debtdomain
VC Trade
Technology Provider of the Year for Loan Agency and Back Office
Debtdomain
VC Trade