Awards

Golub Capital has won the GlobalCapital 2020 awards for Middle Market CLO Manager of the Year and Middle Market CLO Deal of the Year. These awards continue the firm’s long track record of market leadership in middle market CLOs. They also reflect the power and resilience of Golub Capital’s sponsor finance platform through the Covid-19 crisis. The firm has been the top middle market CLO issuer by volume for the past eight years, according to Creditflux data.

When the 2007-8 crisis hit, appetite for analytics using macro forecasts to project tranche-level impacts across structured finance was fairly limited. There were models that could forecast the performance of residential mortgages, but few issuers or investors saw the need to try to determine how, for example, unemployment might affect a specific RMBS tranche.

GlobalCapital invites market participants to submit nominations for this year’s Covered Bond Awards, which recognise excellence in the industry over the past year.

GlobalCapital is preparing to launch its Covered Bond Awards for 2021 and welcomes feedback from the market around which achievements should be recognised.

GlobalCapital reveals today the winners of its Bond Awards 2021, including celebration of the achievement of top corporate banks and issuers — and Lifetime Achievement Awards for two of Europe’s most prominent corporate funding officials.

GlobalCapital is delighted to reveal this year’s winners of its Financial Institution Bond Awards, which celebrate the top issuers, arrangers, bankers and service providers in the capital markets.

The immediate need for corporates in Europe during the Covid-19 crisis was to quickly tap liquidity but after debt capital markets re-opened, thoughts turned to future-proofing business models, balance sheets and funding strategies. BNP Paribas was perfectly placed to have those discussions with clients with an integrated coverage model that provided neutral capital structure advice.

Sustainability became the defining feature of late 2020 and 2021 capital markets, with ever more issuers and investors in more asset classes using more products than ever before. BNP Paribas has led the development of the market from sovereign green bonds to social and sustainability linked finance.

The corporate hybrid market is on a tear, with post-Covid issuance in 2020 of €46.7bn, almost as much as in the two previous years combined, and volume for 2021 already reaching €19.8bn by mid-May. Citi has been on the top-line of 60% of the corporate hybrids issued since the start of the pandemic, leading €38.6bn out of a total €66bn, and on 38 tranches out of 75 issued.

The unstoppable rise of sustainability-linked finance was arguably the most important trend in the bond market over the last year as it opened the door to socially responsible investment products for a swathe of issuers unable, for one reason or another, to issue green bonds.

The green and SRI bond market has been through a dizzyingly fast development over the past year, powered by the appearance of some of the world’s largest public sector issuers, with two green bond entrants from the G7 and the return of a third. Crédit Agricole CIB, with its long-established ESG credentials, has been at the heart of the action.

The European bond market for financial institutions has swung away from liquidity and towards capital, while ESG is becoming an ever-more important theme. Successful lead managers have needed expertise across all these areas, as well as the global distribution capability to help issuers find opportunities wherever and whenever they arise, a recipe well-suited to HSBC.