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GlobalCapital Bond Awards 2020: the winners

GlobalCapital is delighted to announce the winners of its Bond Awards 2020.

  • By GlobalCapital
  • 30 Sep 2020
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BOND AWARDS LIKE NO OTHER

GlobalCapital  has held its Bond Awards every year for the last 12 years but never like this. For the first time, we’re revealing the winners in a virtual ceremony in September rather than at our London awards dinner in May.

It is just one of the changes we have all had to get used to over the past six months — working remotely, often under difficult conditions; meeting by video; pitching, pricing and trading bonds without the physical infrastructure and personal touch that offices bring. 

But the primary debt capital markets’ response to the coronavirus crisis has been resilient and robust. Institutions all over the world from governments and multilateral development banks, to domestic lenders, to companies have raised vital financing to see them through this extraordinary period.

Central banks’ inflated quantitative easing programmes and relaxed capital regulations have helped them, while governments have created vast support programmes.  But the capital markets have answered the call for urgent help, facilitating fiscal spending and enabling QE programmes to keep the global economy from unthinkable consequences.

Many of you will know that we usually hold our Bond Awards in May every year, following a market poll that takes place in the first quarter. This year, we opened the poll in February as usual, but because of the coronavirus, we decided to delay things. It would been wrong to have the awards period culminate in March, just as a rare level of stress and huge uncertainty in capital markets was starting to peak.  

We therefore relaunched them to cover an extended period: March 2019 to June 2020. We invited the market to consider their peers’ performance over that whole duration. We also added a small number of awards to cover the extraordinary work brought about by the coronavirus, such as Best Bank for Funding Advice and Support During Covid-19 Pandemic.  

Apart from the additional categories, the relaunched poll was the same as the original one. Whether by luck or judgement, this was the right thing to do. By extending the voting period to the end of June, we captured the second quarter — a period of extraordinary turbulence and high volumes of issuance that will surely be seen as the salient part of the year — adding to the credibility and importance of this year’s awards.  

METHODOLOGY

GlobalCapital's Bond Awards are unique. They are the only awards that recognise achievement in all the main segments of the international bond markets through a poll of market participants. They truly reflect the opinion of the market. 

The awards thus perform a valuable function, enabling the market to reflect on what worked and what did not in the past year, celebrating the most impressive performers. 

The basis of the poll is that issuers vote for the best investment banks, while banks vote for issuers. Other market participants such as investors, law firms and rating agencies can also vote for and receive awards. 

The awards cover supranational, sovereign and agency; financial institution; investment grade corporate and emerging market bonds. 

The principles of the poll are that people cannot not vote for themselves or their own institutions (except in the Most Valuable Player Awards). People vote on firms that they interact with, not their own competitors (except in the Most Valuable Player Awards and the Emerging Market Bank Awards, where banks are invited to vote for each other). There is one vote per institution in each category. There is to be no collusion or favours.

LIFETIME ACHIEVEMENT AWARD

Frank Czichowski

Martin Egan


Most Impressive Bank for SSA Bonds

JP Morgan

2. Citigroup

3. HSBC


Most Impressive Bank for SSA Bonds

JP Morgan

2. Citigroup

3. HSBC

SSA INVESTMENT BANK AWARDS


Most Impressive Bank for SSA Bonds

JP Morgan

2. Citigroup

3. HSBC

Coming Force in SSA Bonds 

BMO Capital Markets

2. Nomura

3. NatWest Markets


Best Bank for Funding Advice and Support to SSAs During Covid-19 Pandemic

Crédit Agricole

2. Citigroup

3. HSBC


Best Arranger of Covid-19 Bonds

Bank of America

2. Crédit Agricole

3=. Citigroup

3=. JP Morgan


Most Impressive SSA Coverage Team

JP Morgan

2. Citigroup

3=.  HSBC

3=. TD Securities


Most Impressive Syndicate Team for SSA Bonds

JP Morgan

2. HSBC

3. Bank of America


Most Impressive SSA House in Euros

BNP Paribas

2. JP Morgan

3. TD Securities



Most Impressive SSA House in Dollars

TD Securities

2. RBC Capital Markets

3. BMO Capital Markets



Most Impressive SSA House in Sterling

Barclays

2. NatWest Markets

3. RBC Capital Markets



Most Impressive SSA House in Non-Core Currencies

TD Securities

2. RBC Capital Markets

3. Danske Bank



Most Impressive SSA House for the Canadian Market

RBC Capital Markets

2. BMO Capital Markets

3. TD Securities



Most Impressive SSA House for the Japanese Market

Nomura

2. Daiwa Capital Markets

3. MUFG



Most Impressive MTN Dealer for SSAs

Citigroup

2. JP Morgan

3. Bank of America



Most Impressive SSA House for Post-Libor Solutions

TD Securities

2. RBC Capital Markets

3. BMO Capital Markets


SSA BANKER AWARDS


Most Impressive SSA Origination Banker

Ebba Wexler, Citigroup

2. Lee Cumbes, Barclays

3. François Planque, Bank of America


Most Impressive SSA Syndicate Banker

Keith Price, JP Morgan

2. Alex Barnes, Citigroup

3=. Lars Humble, Goldman Sachs

3=. Ben Adubi, Morgan Stanley


Rising Star SSA Bond Banker

Alexander Malitsky, TD Securities

2.Jake Webster, Morgan Stanley

3. Tina Nguyen, JP Morgan


SSA BORROWER AWARDS



Overall Most Impressive SSA Funding Team

European Investment Bank

2. KfW

3. World Bank


Most Innovative SSA Issuer

European Investment Bank

2. World Bank

3. L-Bank



Most Impressive SSA Issuer Funding Strategy During Covid-19 Pandemic

World Bank

2. Spain

3. Italy


Best Issuer of Covid-19 Bonds

African Development Bank

2. Nordic Investment Bank

3. Bpifrance


Most Impressive Sovereign Funding Team

Italy

2. UK

3. Spain



Most Impressive Supranational Funding Team in Euros

European Investment Bank

2. Council of Europe Development Bank

3. Nordic Investment Bank


Most Impressive Supranational Funding Team in Dollars

European Investment Bank

2. World Bank

3. ADB



Best Explicitly Guaranteed Agency Funding Team

KfW

2. OeKB

3. Rentenbank



Best Implicitly Guaranteed Agency Funding Team

BNG

2. Kommunalbanken

3. Agence Française de Développement



Most Impressive State, Regional or Municipal Funding Team

North Rhine-Westphalia

2. Quebec

3. Bavaria


Most Impressive SSA MTN Issuer

World Bank

2. International Finance Corp

3. European Bank for Reconstruction and Development



Most Impressive Issuer for Post-Libor Solutions

European Investment Bank

2. European Bank for Reconstruction and Development

3. World Bank


SSA FUNDING OFFICIAL AWARDS



Most Impressive Sovereign Funding Official

Davide Iacovoni, Italy

2. Pablo de Rámon-Laca, Spain

3. Martin Duffell, UK



Most Impressive Supranational Funding Official

Sandeep Dhawan, EIB

2. Andrea Dore, World Bank

3. Maria Lomotan, Asian Development Bank



Most Impressive Agency Funding Official

Bart van Dooren, BNG

2. Petra Wehlert, KfW

3. Otto Weyhausen-Brinkmann, KfW


OTHER SSA AWARDS



Most Influential Investor in SSA Bonds 

Pimco

2. BlackRock

3. Standard Chartered Treasury


Best Law Firm for SSA BondsClifford Chance

2. Allen & Overy

3. Sullivan & Cromwell


Best SSA Bond Trading Platform

Tradeweb

2. Bloomberg

3. MTS



FINANCIAL INSTITUTION INVESTMENT BANK AWARDS



Most Impressive Bank for Financial Institutions Bonds

JP Morgan

2. Goldman Sachs

3. Morgan Stanley



Coming Force in Financial Institutions Bonds

Natixis

2. NatWest Markets

3. Barclays



Best Bank for Funding Advice and Support to Financial Institutions During Covid-19 Pandemic

BNP Paribas

2. Morgan Stanley

3. JP Morgan



Most Impressive Financial Institutions Coverage Team

JP Morgan

2. Goldman Sachs

3. Morgan Stanley



Most Impressive Syndicate Team for Financial Institutions

Goldman Sachs

2. HSBC

3. Morgan Stanley



Most Impressive Bank for Financial Institutions Capital

JP Morgan

2. Goldman Sachs

3. Morgan Stanley


Most Impressive Bank for Senior Unsecured Financial Institutions Debt

HSBC

2. NatWest Markets

3. Bank of America



Most Impressive Bank for Insurance Debt

HSBC

2. Credit Suisse

3. Crédit Agricole



Most Impressive Bank for Regulatory Advice for Financial Institutions

JP Morgan

2. HSBC

3. UBS



Most Impressive Bank for Liability Management for Financial Institutions

JP Morgan

2. Goldman Sachs



Most Impressive MTN Dealer for Financial Institutions

Barclays

2. Citigroup



Most Impressive FIG House in Euros

BNP Paribas

2. Deutsche Bank

3. JP Morgan



Most Impressive FIG House in Dollars

JP Morgan

2. Goldman Sachs

3. Bank of America



Most Impressive FIG House in Sterling

NatWest Markets

2. Barclays

3. HSBC


Most Impressive FIG House in Yen

Nomura

2. Daiwa Securities

3. Mizuho



Most Impressive FIG House in Niche Currencies

Nomura

2. Deutsche Bank



FINANCIAL INSTITUTION BANKER AWARDS



Most Impressive FIG Origination Banker

Amandine Gaujoux, HSBC

2. Howard Brocklehurst, Morgan Stanley

3. Chris Bond, BNP Paribas



Most Impressive FIG Syndicate Banker

Edward Markham, Goldman Sachs

2. Piers Ronan, Credit Suisse

3. Ade Ademakinwa, Deutsche Bank


Rising Star FIG Bond Banker 

Kenji Kinoshita, JP Morgan

2=. Ali Nauman, Santander

2=. Thomas Lowe, Nomura



FINANCIAL INSTITUTION BORROWER AWARDS



Most Impressive Financial Institution Borrower

Rabobank

2. Santander

3. Commerzbank



Most Innovative Financial Institution Borrower

Nationwide Building Society

2. BBVA

3. Santander



Most Impressive Financial Institution Funding Strategy During Covid-19 Pandemic

SFIL

2. Lloyds Bank

3. BBVA



Most Impressive Financial Institution Issuer of Capital

UniCredit

2. ING

3. Rabobank



Most Impressive Financial Institution Issuer of Senior Unsecured Debt

Santander

2. Nordea

3. Rabobank



Most Impressive Debut or Return after Long Absence Financial Institution Issuer

Alpha Bank

2. Caisse de Refinancement de l’Habitat



Most Impressive Financial Institution MTN Issuer

Lloyds Bank

2. Rabobank

3. Santander



FINANCIAL INSTITUTION FUNDING OFFICIAL AWARDS



Most Impressive Financial Institution Funding Official

Ger Buls, Rabobank

2. Peter Green, Lloyds Bank

3. Franz Josef Kaufmann, Commerzbank



Rising Star Financial Institution Funding Official

Sietske De Bruine, ING

2. Jamie Adams, Santander UK



OTHER FINANCIAL INSTITUTION AWARDS



Most Influential Investor in Financial Institution Bonds

Pimco

2. BlackRock

3. BlueBay



Best Rating Agency for Financial Institution Bonds

S&P Global Ratings

2. Moody’s

3. Fitch



Best Law Firm for Financial Institution Bonds

Allen & Overy

2. Linklaters

3. Clifford Chance



CORPORATE BOND INVESTMENT BANK AWARDS



Most Impressive Bank for Corporate Bonds

BNP Paribas

2. Barclays

3. Bank of America



Coming Force in Corporate Bonds

UniCredit

2=. ING

2=. Mizuho

2=. SMBC



Best Bank for Corporate Bond Funding Advice and Support During Covid-19 Pandemic

BNP Paribas

2. Barclays

3. NatWest Markets


Most Impressive Corporate Bond House in Euros

BNP Paribas

2. Barclays

3. Société Générale



Most Impressive Corporate Bond House in Dollars

Bank of America

2. JP Morgan

3. Citigroup



Most Impressive Corporate Bond House in Sterling

Barclays

2. HSBC

3. NatWest Markets



Most Impressive Bank for Corporate Swaps and Other Derivatives

JP Morgan

2. BNP Paribas

3=. Barclays

3=. HSBC

3=. Société Générale



Bank Most Willing to Underwrite Corporate Bonds

Barclays

2. UniCredit

3=. Goldman Sachs

3=. Société Générale



Best Provider of Secondary Liquidity for Corporate Bonds

Deutsche Bank

2. HSBC

3. Danske Bank



Most Impressive Bank for Corporate Hybrid Capital

Bank of America

2=. Barclays

2=. NatWest Markets



Most Impressive Bank for Corporate Liability Management

Deutsche Bank

2. Citigroup

3. Bank of America



Most Impressive Corporate Coverage Team

Bank of America

2. Barclays

3=. BNP Paribas

3=. Deutsche Bank

3=. HSBC



Most Impressive Syndicate Team for Corporate Bonds

Bank of America

2. Barclays

3. BNP Paribas



CORPORATE BOND BANKER AWARDS



Most Impressive Corporate Bond Origination Banker

Dominic Kerr, HSBC

2. Alex Wheal, HSBC

3. Paula Weisshuber, Bank of America



Most Impressive Corporate Bond Syndicate Banker

Janusz Nelson, Citigroup

2=. Angus Reynolds, Bank of America

2=. Souhail Mahjour, HSBC



Rising Star Corporate Bond Banker 

Alex Hardman, Barclays



CORPORATE BORROWER AWARDS



Most Impressive Corporate Borrower

BP

2. LVMH

3. Daimler



Most Impressive Corporate Funding Strategy During Covid-19 Pandemic

Airbus

2. BP

3. Aéroports de Paris



Most Impressive Non-European Corporate Borrower in European Currencies

Medtronic

2. AT&T

3. Danaher



Most Innovative Corporate Borrower

Enel

2. Snam

3. Orsted



Most Impressive Corporate Hybrid Capital Issuer

BP

2. Deutsche Bahn

3. Bayer



Most Impressive Debut Corporate Bond Issuer

Wintershall DEA

2. Firmenich

3=. Schaeffler AG

3=. Signify



Most Impressive Corporate MTN Issuer

BMW

2. Toyota

3=. Daimler

3=. National Grid

3=. Volvo



Most Impressive Corporate Funding Team

BP

2. Shell

3=. Daimler

3=. Telefónica

3=. Vodafone



CORPORATE FUNDING OFFICIAL AWARD



Most Impressive Corporate Funding Official

George Goeke, AT&T

2. Peter Zirwes, Daimler

3. Patrick Halpin, BP



OTHER CORPORATE BOND AWARDS



Best Debt Advisory Firm for Corporate Bonds

Rothschild

2. Newbridge Advisors



Most Influential Investor in Corporate Bonds

BlackRock

2. Pimco

3=. Amundi

3=. APG

3=. Legal & General



Best Rating Agency for Corporate Bonds

S&P Global Ratings

2. Moody’s

3. Fitch



Best Law Firm for Corporate Bonds

Linklaters

2=. Clifford Chance

2=. Allen & Overy



EMERGING MARKET INVESTMENT BANK AWARDS



Most Impressive Bank for African Bonds

BNP Paribas

2. Standard Chartered

3. JP Morgan



Most Impressive Bank for Middle Eastern Bonds

Standard Chartered

2. HSBC

3. JP Morgan



Most Impressive Bank for CEE Bonds

BNP Paribas

2. JP Morgan

3. Citigroup



Most Impressive Bank for Russian, CIS and former CIS Bonds

JP Morgan

2. VTB Capital

3. Citigroup



Most Impressive Bank for Latin American Bonds

Santander

2. Citigroup

3. JP Morgan



Best Bank for Emerging Market Bond Funding Advice and Support During Covid-19 Pandemic

Goldman Sachs

2. BNP Paribas

3. Natixis



Most Impressive Local Bank for CEE Bonds

PKO Bank Polski

2. Bank Pekao

3. Renaissance Capital



Most Impressive Local Bank for Middle Eastern Bonds

First Abu Dhabi Bank

2. Emirates NBD

3. Dubai Islamic Bank



Most Impressive Local Bank for African Bonds

Standard Bank

2. Absa

3=. First Rand

3=. Rand Merchant Bank



Most Impressive MTN Dealer for Emerging Markets

BNP Paribas

2=. JP Morgan

2=. Société Générale

3=. Standard Chartered



Best Bank for Sukuk for Issuers Outside Asia

Standard Chartered

2. HSBC

3. First Abu Dhabi Bank



Most Impressive Bank for Non-Dollar Bonds in Emerging Markets Outside Asia

BNP Paribas

2. Société Générale

3. First Abu Dhabi Bank



EMERGING MARKET BANKER AWARDS



Most Impressive Emerging Market Origination Banker

Borys Matiash, BNP Paribas

2. Kirill Kondrashin, JP Morgan

3. Ali Ahmad, Standard Chartered



Most Impressive Emerging Market Syndicate Banker

Alexander Karolev, BNP Paribas (to June 2020)

2. Nick Darrant, JP Morgan (to May 2020)

3. Hussain Zaidi, Standard Chartered



Rising Star Emerging Market Bond Banker

Mykola Kuzmenko, BNP Paribas

2. Boris Vladislavlev, JP Morgan

3. Talal Al Mudhaf, HSBC



EMERGING MARKET BORROWER AWARDS



Most Impressive Emerging Market Issuer

Saudi Arabia

2. State Transport Leasing Co

3. Israel



Most Impressive Emerging Market Issuer Funding Strategy During Covid-19 Pandemic

Abu Dhabi

2. Israel

3. First Abu Dhabi Bank



Most Impressive CEE Issuer

Hungary

2. Romania

3. EP Infrastructure



Most Impressive Russian, CIS and former CIS Issuer

State Transport Leasing Co

2. DTEK Renewables

3. Russia



Most Impressive Middle East Sovereign Issuer

Saudi Arabia

2. Qatar

3. Abu Dhabi



Most Impressive Middle East Bank Issuer

First Abu Dhabi Bank

2=. Emirates NBD

2=. Qatar National Bank

3. Riyad Bank



Most Impressive Middle East Corporate Issuer

Saudi Aramco

2. Majid Al Futtaim

3. DP World


Most Impressive African Issuer

Ghana

2. Morocco

3. Africa Finance Corp



Most Impressive Latin American Sovereign Issuer

Mexico

2=. Chile

2=. Paraguay

3. Brazil



Most Impressive Latin American Bank Issuer

Banorte

2. Banco Itaú

3. Bancolombia


Most Impressive Debut Issuer

DTEK Renewables

2. Saudi Aramco

3. Sovcombank



EMERGING MARKET FUNDING OFFICIAL AWARDS



Most Impressive CEE Funding Official

Zoltán Kurali, Hungary

2. Yuriy Butsa, Ukraine

3. Marjan Divjak, Slovenia



Most Impressive Middle East Funding Official

Rula AlQadi, First Abu Dhabi Bank

2. Fahad Al-Saif, Saudi Arabia

3. Eman Abdelazim, Egypt



Most Impressive African Funding Official

Abdelhakim Jouahri, Morocco

2. Charles Adu Boahen, Ghana

3. Banji Fehintola, Africa Finance Corp



OTHER EMERGING MARKET AWARDS



Best Rating Agency for Emerging Market Bonds

S&P Global Ratings

2. Fitch

3. Moody’s



Best Law Firm for Emerging Market Bonds

Linklaters

2. Clifford Chance

3. Allen & Overy



Best Emerging Market Bond Trading Platform

MarketAxess

2. Bloomberg



Most Valuable Player in Sustainable Capital Markets

Tanguy Claquin, Crédit Agricole

2. Farnam Bidgoli, HSBC

3. Orith Azoulay, Natixis

  • By GlobalCapital
  • 30 Sep 2020

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 536.93 2074 9.14%
2 Citi 451.18 1710 7.68%
3 BofA Securities 445.77 1738 7.59%
4 Barclays 319.30 1312 5.43%
5 Goldman Sachs 312.36 1124 5.32%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15.76 106 9.17%
2 Morgan Stanley 15.71 67 9.14%
3 Goldman Sachs 14.87 82 8.65%
4 Citi 12.56 72 7.30%
5 BofA Securities 11.86 62 6.90%