GlobalCapital was delighted to bring the international bond market together on Wednesday, June 17, to celebrate the winners of its 2026 Bond Awards.
Held this year at Raffles London at The OWO, the event brought together the leading borrowers, banks, investors and individuals whose expertise, innovation and commitment helped shape the bond markets over the past year.
Guests from across the sovereign, supranational and agency; financial institution; corporate and emerging market sectors gathered to raise a glass to the industry's standout performers.
The evening took place in one of London's most historic settings. The former War Office building has played a significant role in British history, welcoming generations of national leaders and statesmen through its halls.
Now in its 19th year, the GlobalCapital Bond Awards remain the only awards dedicated exclusively to the international bond markets. They recognise excellence across issuers, investment banks, investors, rating agencies, law firms and advisers, celebrating performance between April 1, 2025 and March 31, 2026.
What makes the Bond Awards unique is that the nominees and winners are determined by the market itself. Through an extensive industry poll conducted earlier this year, market participants voted for the institutions and individuals they believe delivered outstanding results and distinguished themselves from their peers.
The winners therefore reflect the views of clients, counterparties and competitors across the bond markets. You can view the shortlist and winners across all categories below.
The sole exception is the Lifetime Achievement Awards, where the winners are selected by the GlobalCapital editorial team. This year, the honours were shared by two outstanding recipients: Gary Admans and Nick Darrant. Both were recognised for distinguished careers and their lasting contributions to the development and growth of the international debt capital markets.
Congratulations to all our winners and nominees, and thank you to everyone who took the time to participate in the voting process.
THE WINNERS
Lifetime Achievement Awards
Nick Darrant
Gary Admans
SSA AWARDS
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Overall Most Impressive SSA Funding TeamWinner: KfW
Asian Development Bank
European Investment Bank
European UnionMost Innovative SSA IssuerWinner: World Bank
African Development Bank
European Investment Bank
Export Development Canada
KfWMost Impressive SSA Issuer at Using New Bond Market TechnologyWinner: KfW
Asian Infrastructure Investment Bank
European Investment Bank
World BankMost Impressive SSA Issuer in DollarsWinner: European Investment Bank
Asian Development Bank
Asian Infrastructure Investment Bank
KfW
World BankMost Impressive SSA Issuer in EurosWinner: European Union
BNG Bank
European Investment Bank
France
KfWMost Impressive SSA Issuer in SterlingWinner: European Investment Bank
Asian Development Bank
Corporación Andina de Fomento
KfW
World BankMost Impressive SSA Issuer in Australian DollarsWinner: CPP Investments
KfW
World BankMost Impressive Sovereign Funding TeamWinner: United Kingdom
Austria
France
Germany
ItalyMost Impressive Supranational, Agency and Sub-sovereign Funding Team with an Annual Borrowing Requirement of under €10bnWinner: Council of Europe Development Bank
Agence Française de Développement
Asian Infrastructure Investment Bank
Corporación Andina de Fomento
IDB Invest
KommunalbankenMost Impressive Supranational, Agency and Sub-sovereign Funding Team with an Annual Borrowing Requirement of between €10bn and €20bnWinner: BNG Bank
CPP Investments
International Finance Corp
State of North Rhine-WestphaliaMost Impressive Supranational, Agency and Sub-sovereign Funding Team with an Annual Borrowing Requirement of €20bn-equivalent and aboveWinner: European Investment Bank
Asian Development Bank
European Financial Stability Facility / European Stability Mechanism
European Union
KfW
World BankMost Impressive Sovereign ESG Bond IssuerWinner: Germany
Austria
Denmark
France
UKMost Impressive Supranational, Agency and Sub-sovereign ESG Bond IssuerWinner: European Investment Bank
Agence Française de Développement
Council of Europe Development Bank
KfW
State of Hesse -
Most Impressive Sovereign Funding OfficialWinner: Fabrizio Tesseri, Italy
Antoine Deruennes, France
Harjinder Mann, UK
Jessica Pulay, UK
Markus Stix, AustriaMost Impressive Supranational Funding OfficialWinner: Sandeep Dhawan, European Investment Bank
Felix Grote, Council of Europe Development Bank
Jonathan Maes, European Union
Manuel Valdez, CAF
Maria Lomotan, Asian Development BankMost Impressive Agency Funding OfficialWinner: Jörg Graupner, KfW
Antti Kontio, Municipality Finance
Mascha Ketting, BNG Bank
Sam Dorri, CPP Investments
Sven Lautenschläger, L-Bank
Sydney Siahaija, BNG BankMost Impressive Sub-sovereign Funding OfficialWinner: Andreas Becker, North Rhine-Westphalia
Alexander Labermeier, Hesse
Bernard Asselin, Québec
Rodrigo Robledo, Madrid
Rob Yeung, Ontario
Stefan Wegner, North Rhine-WestphaliaRising Star SSA Funding OfficialWinner: Ronan Lamy, Agence Française de Développement
Aaro Koski, Municipality Finance
Alexander Schierlinger, OeKB
Ismail Aouden, NWB Bank
Lari Toppinen, Municipality Finance
Pieter van Blommestein, ADB -
Overall Most Impressive Bank for SSA BondsWinner: J.P. Morgan
Bank of America
BNP Paribas
Citi
Deutsche BankEmerging Force in SSA BondsWinner: Santander Corporate and Investment Bank
DZ BANK
ING
Scotiabank
UBSMost Impressive Bank for SSA ESG Capital MarketsWinner: Crédit Agricole CIB
BNP Paribas
HSBC
ING
NatixisMost Impressive Bank in Using New Technology for SSA Primary Bond MarketsWinner: DZ Bank
DekaBank
Goldman Sachs
HSBC
J.P. MorganMost Impressive SSA Coverage TeamWinner: J.P. Morgan
Bank of America
BNP Paribas
Citi
Deutsche Bank
RBC Capital MarketsMost Impressive Syndicate Team for SSA BondsWinner: Deutsche Bank
Bank of America
Barclays
Citi
J.P. MorganMost Impressive SSA House in EurosWinner: Deutsche Bank
Barclays
BNP Paribas
Crédit Agricole CIB
J.P. MorganMost Impressive SSA House in DollarsWinner: J.P. Morgan
Bank of America
BMO Capital Markets
Citi
Morgan StanleyMost Impressive SSA House in SterlingWinner: Barclays
BMO Capital Markets
HSBC
NatWest Markets
RBC Capital MarketsMost Impressive SSA House in Australian DollarsWinner: RBC Capital Markets
Commonwealth Bank of Australia
Deutsche Bank
Nomura
TD Securities
UBSMost Impressive SSA House for the Canadian MarketWinner: RBC Capital Markets
BMO Capital Markets
CIBC
Scotiabank
TD SecuritiesMost Impressive SSA House for the Japanese MarketWinner: Nomura
Daiwa Securities
J.P. Morgan
Mizuho
Sumitomo Mitsui Financial GroupMost Impressive House for SSA ResearchWinner: Barclays
Commerzbank
Crédit Agricole CIB
Deutsche Bank
J.P. Morgan
TD SecuritiesMost Impressive House for Secondary TradingWinner: J.P. Morgan
Barclays
BMO Capital Markets
Citi
Deutsche Bank -
Most Impressive SSA Syndicate BankerWinner: Neal Ganatra, Deutsche Bank
Adrien de Naurois, Bank of America
Asif Sherani, HSBC
Jack Francis, Citi
Yumi Yang, BarclaysMost Impressive SSA Origination BankerWinner: Massimo Antonelli, BMO Capital Markets
Amélie Darrort, J.P. Morgan
Ebba Wexler, Citi
Kamini Sumra, Bank of America
Tina Nguyen, J.P. MorganRising Star SSA BankerWinner: Antonio Gómez-Chaparro de Luna, BNP Paribas
Benjamin Ireland, Morgan Stanley
Jacob Klaus, TD
Philipp Bergmann, DZ Bank
Pierre Boullé, Bank of America
Vinay Parmar, RBC Capital MarketsMost Impressive ESG Investment BankerWinner: Myriam Zapata, BNP Paribas
Anjuli Pandit, HSBC
David Marques Pereira, DZ Bank
Ebba Hytting, Crédit Agricole CIB
Tanguy Claquin, Crédit Agricole CIB -
Best Technology Platform for SSA Primary Bond MarketWinner: Origin Markets
Bloomberg
PrimaryNexus
HSBC
S&P Global RatingsMost Influential Investor in SSA BondsWinner: Wellington
Amundi
BlackRock
PIMCO
Qube Research & Technologies
State Administration of Foreign ExchangeBest Rating Agency for SSA BondsWinner: S&P Global Ratings
Moody’s RatingsBest Law Firm for SSA BondsWinner: Clifford Chance
A&O Shearman
King & Wood Mallesons
Linklaters
Norton Rose FulbrightBest Second Party Opinion Provider for SSA ESG BondsWinner: Moody’s Ratings
ISS-Corporate
S&P Global Ratings
Sustainable FitchBest Hedge Fund Investor in SSA BondsWinner: Qube Research & Technologies
Brevan Howard
ExodusPoint Capital Management
Garda Capital Partners
Tudor Investment Corp
FIG AWARDS
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Most Impressive Financial Institution BorrowerWinner: BPCE
ABN AMRO
Crédit Agricole CIB
Santander Corporate and Investment Bank
Société GénéraleMost Innovative Financial Institution BorrowerWinner: BPCE
ABN AMRO
Crédit Agricole CIB
Santander Corporate and Investment Bank
Société GénéraleMost Impressive Financial Institution Issuer of CapitalWinner: Société Générale
ABN AMRO
Crédit Agricole CIB
Erste Bank
ING
Santander Corporate and Investment BankMost Impressive Financial Institution Issuer of Senior Unsecured DebtWinner: BPCE
ABN AMRO
Crédit Agricole CIB
Erste Bank
Santander Corporate and Investment BankMost Impressive Debut/Returning Financial Institution Unsecured IssuerWinner: Paragon
Aldermore
Banco DesioMost Impressive FIG Issuer at Using New Bond Market TechnologyWinner: DekaBank
BPCE
Crédit Agricole CIB
Erste Bank
Toronto-Dominion BankMost Impressive Financial Institution Issuer at Using Liability ManagementWinner: Rabobank
Achmea
Crédit Agricole CIB
Nationwide
Société GénéraleMost Impressive Financial Institution ESG Bond IssuerWinner: Crédit Agricole CIB
ABN AMRO
Nordea -
Most Impressive Financial Institution Funding OfficialWinner: Cedric Perrier, BPCE
Aurelien Harff, Crédit Agricole CIB
Ger Buls, Rabobank
Petra Mellor, Nordea Bank
Silvana Borgatti, Santander Corporate and Investment Bank
Vincent Robillard, Société GénéraleRising Star Financial Institution Funding OfficialWinner: Francois van der Merwe, ING Group
Adrien Lachaud, CCDJ
Jil Janssen, LBBW -
Most Impressive Bank for Financial Institution BondsWinner: Morgan Stanley
Bank of America
BNP Paribas Deutsche Bank
Goldman Sachs
J.P. Morgan
UBSMost Impressive Bank for Financial Institution Capital and Regulatory AdviceWinner: BNP Paribas
Bank of America
Goldman Sachs
HSBC
J.P. Morgan
Morgan StanleyEmerging Force in Financial Institution BondsWinner: Natixis
ABN AMRO
BBVA
BMO
Erste BankMost Impressive Bank for Senior Unsecured Financial Institution BondsWinner: Bank of America
J.P. Morgan
Morgan Stanley
Natixis
Santander Corporate and Investment BankMost Impressive Syndicate Team for Financial Institution BondsWinner: Morgan Stanley
Bank of America
Erste Bank
Goldman Sachs
NatixisMost Impressive Origination Team for Financial Institution BondsWinner: Morgan Stanley
Bank of America
BNP Paribas
J.P. Morgan
UBSMost Impressive FIG House in EurosWinner: Deutsche Bank
Bank of America
BNP Paribas
Morgan Stanley
NatixisMost Impressive FIG House in DollarsWinner: Bank of America
Citi
Goldman Sachs
J.P. Morgan
Morgan StanleyMost Impressive FIG House in SterlingJoint Winners: Barclays & Natwest
HSBC
Lloyds
Santander Corporate and Investment BankMost Impressive Bank for Insurance DebtWinner: J.P. Morgan
BNP Paribas
Citi
HSBC
Morgan Stanley
NatixisMost Impressive FIG House in Australian DollarsWinner: National Australia Bank
Barclays
Nomura
UBS
WestpacMost Impressive FIG House in Swiss FrancsWinner: UBS
BNP Paribas
Commerzbank
Deutsche Bank
Zürcher KantonalbankMost Impressive FIG House in YenWinner: Nomura
Daiwa
Mizuho
SMBC NikkoMost Impressive FIG House for Inaugural Issuers and Asset ClassesWinner: Goldman Sachs
ABN AMRO
Erste Bank
J.P. Morgan
Morgan StanleyMost Impressive Investment Bank for Financial Institution ESG Capital MarketsWinner: ING
ABN AMRO
Crédit Agricole CIB
Natixis
NatWestMost Impressive Bank in Using New Technology for FIG Primary Bond MarketsWinner: Société Générale
J.P. Morgan
Goldman Sachs
LBBW
Santander Corporate and Investment BankMost Impressive Bank for Liability Management for Financial InstitutionsWinner: Bank of America
Citi
Deutsche Bank
Goldman Sachs
NatWestBest Secondary Trading House for FIG BondsWinner: J.P. Morgan
Bank of America
Barclays
BNP Paribas
Goldman SachsMost Impressive House for Financial Institution ResearchWinner: Citi
Barclays
BNP Paribas
Commerzbank
Crédit Agricole CIB
Deutsche Bank
Goldman Sachs
J.P. Morgan -
Most Impressive FIG Syndicate BankerWinner: Matteo Benedetto, Morgan Stanley
Dharit Patel, Bank of America
Edward Markham, Goldman Sachs
Mladen Djurdjevic, Erste Bank
Vincent Hoarau, Crédit Agricole CIBMost Impressive FIG Origination BankerWinner: Nik Dhanani, HSBC
Kenji Kinoshita, J.P. Morgan
Raphael Gindre, J.P. MorganRising Star FIG Bond BankerWinner: Florian Hessel, Morgan Stanley
Carole Ly-Marin, BMO
Nicolas Torri, Goldman SachsMost Impressive ESG Investment BankerWinner: Carla La-Tona, Deutsche Bank
James Riley, ING
Sanda De Silva, HSBC -
Best Rating Agency for FIG BondsWinner: Moody’s Ratings
Fitch Ratings
Morningstar DBRS
Scope Ratings
S&P Global RatingsMost Influential Investor in Financial Institution BondsWinner: BlackRock
Amundi
PIMCO
Sona Asset Management
WellingtonBest Hedge Fund Investor in Financial Institution BondsWinner: Brevan Howard
DE Shaw
Sona Asset ManagementBest Technology Platform for the FIG Primary Bond MarketWinner: Direct Books
Ipreo
Origin MarketsBest Law Firm for FIG BondsWinner: A&O Shearman
Cleary Gottlieb Steen & Hamilton
Clifford Chance
Linklaters
White & CaseBest Second Party Opinion Provider for FIG ESG BondsWinner: ISS-Corporate
Moody’s Ratings
S&P Global Ratings
CORPORATE AWARDS
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Most Impressive Corporate BorrowerWinner: Enel
Alphabet
Iberdrola
OrangeMost Innovative Corporate BorrowerWinner: SES
Alphabet
EDF
SiemensMost Impressive Non-European Corporate Borrower in European CurrenciesWinner: Alphabet
Amazon
Booking
NextEra
VerizonMost Impressive Corporate Yankee Bond IssuerWinner: Snam
Enel
Orange
SiemensMost Impressive Corporate Borrower in SterlingWinner: Alphabet
Anglian Water
LSEG
StellantisMost Impressive Corporate Borrower in Swiss FrancsWinner: Alphabet
Mondelez
TelefonicaMost Impressive Corporate Borrower in Australian DollarsWinner: EDF
Aroundtown
E.ON
EnBW
VerizonMost Impressive Corporate Funding TeamWinner: Enel
A2A
EDF
Iberdrola
Volkswagen Financial ServicesMost Impressive Corporate Hybrid Capital IssuerWinner: Stellantis
Enel
Iberdrola
Terna
VerizonMost Impressive Corporate Issuer at Using New Bond Market TechnologyWinner: Volvo Treasury
bLend
MercedesBest Corporate Issuer at Using Liability ManagementWinner: Vodafone
Philips
Repsol
TelefonicaMost Impressive Debut Corporate Bond IssuerWinner: Magnum Ice Cream
Canal+
Novonesis
Wise PLCMost Impressive Corporate Green, Social or Sustainable Bond IssuerWinner: Iberdrola
A2A
EDP
SnamMost Impressive Sustainability-Linked Bond IssuerWinner: Snam
Aeroporti Di Roma
Carrefour -
Most Impressive Corporate Funding OfficialWinner: Nicole Della Vedova, Snam
Andrew Binnie, SSE
Claudio Menghi, Nestle
Guillermo Colino, Iberdrola -
Most Impressive Bank for Corporate BondsWinner: BNP Paribas
Bank of America
Barclays
J.P. MorganEmerging Force in Corporate BondsWinner: BBVA
Natixis
SEB
Standard CharteredMost Impressive Bank in Using New TechnologyWinner: J.P. Morgan
BNP Paribas
HSBC
INGMost Impressive Corporate Bond House in EurosWinner: BNP Paribas
HSBC
ING
J.P. MorganMost Impressive Corporate Bond House in DollarsWinner: J.P. Morgan
Bank of America
CitiMost Impressive Corporate Bond House in SterlingWinner: Barclays
HSBC
Lloyds
NatWest MarketsMost Impressive Corporate Bond House in Australian DollarsWinner: MUFG
Deutsche Bank
WestpacMost Impressive Corporate Bond House in Swiss FrancsWinner: Deutsche Bank
BNP Paribas
Commerzbank
UBS
ZKBMost Impressive Syndicate Team for Corporate BondsWinner: BNP Paribas
Barclays
HSBC
ING
J.P. MorganMost Impressive Bank for Corporate Hybrid CapitalWinner: BNP Paribas
Barclays
HSBC
J.P. Morgan
Société GénéraleMost Impressive Bank for Corporate Capital Structure AdviceWinner: Bank of America
BNP Paribas
J.P. Morgan
Société GénéraleMost Impressive Bank for Corporate Ratings AdviceWinner: Société Générale
Crédit Agricole CIB
ING
J.P. MorganMost Impressive Bank for Corporate Liability ManagementWinner: Deutsche Bank
Bank of America
Barclays
BNP ParibasMost Impressive Investment Bank for Corporate ESG Capital Markets and AdviceWinner: ING
BNP Paribas
Crédit Agricole CIB
HSBCMost Impressive Bank for Corporate Swaps and Other DerivativesWinner: Barclays
Bank of America
BNP Paribas
J.P. Morgan -
Most Impressive Corporate Bond Syndicate BankerWinner: James Cunniffe, HSBC
Angus Reynolds, Bank of America
Helene Jolly, Deutsche Bank
Jodie Snow, BNP Paribas
Patrick Wuytens, ING
Thibault Hescot, BNP ParibasMost Impressive Corporate Bond Origination BankerWinner: Douwe van Duijvendijk, ING
Bertie James, HSBC
Mark Kitchen, Bank of America,
Stefano Corbetta, Société GénéraleMost Impressive ESG Investment BankerWinner: Joshua Zakkai, ING
Anjuli Pandit, HSBC
Carla La Tona, Deutsche Bank
Giancarlo Pavia, Crédit Agricole CIBRising Star Corporate Bond BankerWinner: Daniel Corazzi, Barclays
Eni Shobo, Barclays
James Hart, BNP Paribas
Matthieu Saint-Jean, Deutsche Bank
Nicolas Bertozzi, Crédit Agricole CIB -
Most Influential Investor in Senior Corporate BondsWinner: BlackRock
GIC
Wellington ManagementMost Influential Investor in Hybrid Corporate BondsWinner: BlackRock
GIC
Neuberger BermanBest Hedge Fund Investor in Corporate BondsWinner: Sona Asset Management
Brevan Howard
Point72 Asset ManagementBest Debt Advisory Firm for CompaniesWinner: Rothschild & Co
EYBest Second Party Opinion Provider for Corporate ESG BondsWinner: Moody’s Ratings
S&P Global Ratings
Sustainable FitchBest Rating Agency for Corporate BondsWinner: S&P Global Ratings
Fitch Ratings
Moody’s RatingsBest Law Firm for Corporate BondsWinner: Linklaters
A&O Shearman
Clifford ChanceBest Technology Platform for the Corporate Primary Bond MarketWinner: PrimaryNexus
BondAuction
Origin Markets
EMERGING MARKET AWARDS
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Most Impressive Issuer in AfricaWinner: Republic of Cote D’Ivoire
Angola
Azule EnergyMost Impressive ESG Bond Issuer in Central and Eastern EuropeWinner: Slovenia
Hungary
PolandMost Impressive Issuer in Central and Eastern EuropeWinner: Poland
Hungary
RomaniaMost Impressive ESG Bond Issuer in the Middle EastWinner: Public Investment Fund
First Abu Dhabi Bank
MasdarMost Impressive Issuer in the Middle EastWinner: Public Investment Fund
First Abu Dhabi Bank
Saudi ArabiaOverall Most Impressive Emerging Markets IssuerWinner: Public Investment Fund
Poland
Saudi Arabia -
Most Impressive Funding Official in AfricaWinner: Lancine Diaby, Republic of Cote D’Ivoire
Noha El-Hawary, Egypt
Patience Oniha, NigeriaMost Impressive Funding Official in Central and Eastern EuropeWinner: Karol Czarnecki, Poland
Mihaly Hoffmann, Hungary
Zeynep Boga, TurkeyMost Impressive Funding Official in the Middle EastWinner: Ahmed Alrobayan, Public Investment Fund
Eoin Finn, Emirates NBD Capital
Salem Marouan, First Abu Dhabi Bank -
Most Impressive Local Bank for Africa BondsWinner: Standard Bank
Absa
Rand Merchant BankMost Impressive Bank for Africa BondsWinner: Citi
J.P. Morgan
Standard CharteredMost Impressive Bank for Central and Eastern European BondsWinner: J.P. Morgan
BNP Paribas
CitiMost Impressive Local Bank for Middle East BondsWinner: Emirates NBD Capital
Abu Dhabi Commercial Bank
First Abu Dhabi BankMost Impressive Bank for Middle East BondsWinner: Standard Chartered
Emirates NBD Capital
J.P. MorganMost Impressive Bank for CEEMEA SukukWinner: Standard Chartered
Emirates NBD Capital
HSBCMost Impressive Bank for CEEMEA ESG BondsWinner: BNP Paribas
Citi
J.P. MorganMost Impressive Bank for CEEMEA BondsWinner: J.P. Morgan
BNP Paribas
Citi -
Most Impressive CEEMEA Bond Syndicate BankerWinner: Matt Doherty, BNP Paribas
Felix Weiss, Citi
Gavriel Shaya, J.P. MorganMost Impressive CEEMEA Bond Origination BankerWinner: Stefan Weiler, J.P. Morgan
Ahmed Taha, Standard Chartered
Borys Matiash, BNP ParibasRising Star Emerging Markets Bond BankerWinner: Ramzi Kattouf, J.P. Morgan
Alice Wilson, BNP Paribas
Ghita Chafli, Standard Chartered -
Best Law Firm for Emerging Market BondsWinner: White & Case
A&O Shearman
LinklatersBest Rating Agency for Emerging Market BondsWinner: Fitch Ratings
Moody’s Ratings
S&P Global RatingsMost Influential Investor in Emerging Market BondsWinner: PIMCO
BlackRock
Brevan Howard
To download a PDF of all the polled award winners, please click here.