GlobalCapital's Covered Bond Awards 2026: winners revealed

Representatives from across the international covered bond market gathered at the NH Collection in Seville on Thursday, September 24 for the annual GlobalCapital Covered Bond Awards. The 2026 awards celebrate the deals, institutions and individuals that stood out by displaying continued resilience amid changing market conditions.

The awards recognised activity during the period June 2, 2025 to June 1, 2026. It was a year in which the covered bond market continued to provide a dependable source of funding, despite geopolitical tensions, economic uncertainty and changing expectations around rates and spreads.

Uniquely, the GlobalCapital Covered Bond Awards are decided by the market itself. This year, more than 500 market participants took part across the nomination and voting stages, including issuers, lead managers and investors, making these awards truly by the market, for the market.

Below is a flavour of the night’s winners, with the full list of nominees and winners available in the dropdown below.

Natixis enjoyed a strong night, taking home both the Covered Bond House of the Year and Best Bank for Origination titles.

JP Morgan was another major winner, taking three titles: Best Liquidity Provider, Best Bank for Secondary Trading and Best Bank for Derivatives Solutions.

Danske Bank was recognised as the Coming Force in Covered Bonds, reflecting its growing momentum and influence in the market.

The results underline the breadth of activity and expertise being recognised across the covered bond market, from primary issuance and origination to liquidity and secondary trading.

Banco Santander had a standout evening, taking home both Issuer of the Year and the coveted Deal of the Year awards.

Its €1.5bn 2.625% February 2031 and €1bn 3% February 2036 mortgage covered bonds were also recognised by the market as the Best Euro Deal.

Congratulations also to the lead arrangers: Commerzbank, Crédit Agricole CIB, Deutsche Bank, Intesa Sanpaolo, Mediobanca, Natixis, Santander, Société Générale and UniCredit.

The evening brought together senior professionals from across the market to recognise another year of abundnant issuance in sometimes challenging markets.

Also this year alongside the awards poll we conducted our inaugural Covered Bond Sentiment Survey, the results of which you can read below.

Congratulations to all of this year’s winners and nominees, and thank you to everyone who took the time to participate in the market poll.

Click here to download a PDF of the winners.

The GlobalCapital Covered Bond Market Sentiment Survey brings together the views of senior professionals from across the international covered bond market to provide a forward-looking view of the market.

Drawing on GlobalCapital’s extensive network across the international fixed income markets, the survey explores how market participants expect the covered bond market to develop through the remainder of 2026 and into 2027.

From issuance and spreads to new issue concessions and investor demand, the research provides insight into the key trends shaping the market and where industry participants see opportunities and challenges ahead.

Click here to download a PDF of the 2026 award winners.

If you have any queries about the Awards, please contact our Awards Lead, Ekta Kharat.

For information on commercial opportunities related to the Awards, please contact our Head of Business Development, Holly James.