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Pair of banks fight it out for top covered bond award

Aggression
By Bill Thornhill
23 Jul 2019

The Covered Bond Awards 2019 survey is off to a very strong start with roughly 300 completed responses registered in the first week. Two banks are running neck and neck for the top award, but with four weeks to go, pecking orders can change.

Half of respondents to the survey have been investors. The remaining vote is split almost equally between lead managers and issuers.

Based on the raw vote and not taking account of the rules, the award for Covered Bond House of the Year is shaping up to be a contest between two banks, but with only 15 votes between the front runner and the next most chosen.

One of those contenders for the top award is also polling well in the category for Best Euro Lead Manager where, preliminary analysis suggests, it is up against a German and French bank.

As for Best Syndicate Manager, the votes are more evenly distributed with little more than 20 votes between the best and fourth best.

The leading bank for Best Structuring and ALM Adviser has never won this award. With only six votes between them, a French and German bank are vying for Best Bank for Distribution.

The strongest so far in Best Bank for Niche Currencies is also doing well in the top award but a relatively new contender in the covered bond game from over the water is just 5% behind.

Issuer of the Year looks like it’s shaping up to be a contest between the UK and Canadians, with a difference of just 3.2% between the top three.

As for Best Euro Issuer, it’s a fight between French and Dutch entities with little more than 10 votes separating them.  Covered Bond Deal of the Year is turning into a duel with only two votes separating the leader from the next best.

One of these is also leading the way in Euro Deal of the Year where it has a much stronger lead compared to the next best.

10 votes separate the top two for Best Sterling Deal. 10 votes also separate the top four contenders for Best Debut Deal.

This stands in contrast the relatively huge chasm between the top and second ranking contender for Best Green/SRI Deal and Most Innovative Deal.

For more information on the shortlists see here and for the survey itself please click here.

By Bill Thornhill
23 Jul 2019