GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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COVERED BOND AWARDS

The only comprehensive awards dedicated to covered bonds

Winners voted by the market

COVERED BOND AWARDS

The only comprehensive awards dedicated to covered bonds

Winners voted by the market

Tabs
About the Awards
AWARDS PROCESS
AWARDS CATEGORIES
2024 WINNERS
WHY SPONSOR
WHY ATTEND
The most prestigious awards dedicated to the covered bond market
Intro

The Covered Bond Awards honour and celebrate the best banks, issuers, deals and other market participants for their achievements in the covered bond market.

Uniquely, the winners are voted by the market through a two-stage process. Market participants are invited to nominate deals, institutions and people for inclusion on the shortlist. The shortlist is then opened to a market vote to choose the winners. This means that the award winners are chosen by the market, for the market.

Held each year following the ECBC Covered Bond Congress, the awards ceremony brings together more than 100 senior covered bond professionals to network and celebrate success. The winners are revealed live at the ceremony, and the following day on the GlobalCapital website.

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Award Timeline
2025 timeline

Nominations


May, 2025

Shortlist


June, 2025

Voting


June - July, 2025

Ceremony


September 18, 2025 Seville

Sponsors
2025 Lead sponsor
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BGC Group, Inc. is a global financial services and technology company. It operates as a brokerage and financial technology firm, specializing in trading execution and technology solutions across a variety of financial products. Headquartered in New York City and London, BGC Group has a global presence with offices in major financial centres worldwide.

BGC Group provides brokerage services for a wide array of financial products, including fixed income, foreign exchange, equities, energy, commodities, shipping, and futures.

BGC Group leverages cutting-edge technology to enhance its brokerage services and offer innovative solutions to its clients.

BGC Group's clientele includes major global banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. For more information, please visit: BGC Group

2025 Platinum event partner
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Our 2024 Highlights
2024 Covered Bond Awards in numbers
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The winners of the Covered Bonds are decided based on a two-stage poll of market participants. During the first stage, market participants are invited to put forward themselves, their colleagues, their clients or their peers forward to be shortlisted. Using these nominations, the GlobalCapital editorial team will compile a shortlist in each category. This is then opened to voting by the market to choose the winners.

A full explanation of each stage of the process is below.

Before taking part, please ensure you have reviewed the full award guidelines and rules.

Drop downs
  • Nominations

    During the call for nominations, those active in the covered bond market are invited to tell us about the deals, issuers and banks that deserve recognition during the awards period — August 1 2024 to June 1 2025. Up to three nominations for each award category listed can be recommended by anyone with a strong interest in covered bonds.

    At this stage, you may put forward your own deals and organisation, though we encourage you to nominate widely outside your own institution too.

    Using these recommendations, the GlobalCapital editorial team will compile a shortlist in each category. This is decided at our discretion, but your nominations are a key part of the decision-making process. This shortlist will be opened to a market vote to choose the winners throughout June.
  • Voting

    Based on recommendations made by the market during the call for nominations, GlobalCapital will compile a shortlist of nominees for each award category. Market participants are invited to vote on this shortlist to choose the winners.

    Who can vote?

    To ensure a fair and representative process, eligibility to vote is defined as follows:

    • Lead Managers must have syndicated at least one publicly distributed benchmark covered bond between August 1, 2024, and June 2, 2025.
    • Issuers must have launched at least one publicly placed transaction of €250 million or more within the past 18 months.
    • Investors must have been active in the covered bond market between August 2024 and June 2025 — those with higher activity levels will have greater voting weight.

    Voting guidelines:

    • One vote per institution.
    • The asset management, treasury and investment banking divisions within the same group can vote respectively as investor, issuer and lead manager, provided they meet the eligibility requirements listed below.
    • Banks within a single network will be considered as a single institution.
    • Block voting, for one institution across all categories it has been nominated in, is not permitted.
    • Voting for your own institution is not permitted.

    Confidentiality & integrity

    GlobalCapital will keep your votes strictly anonymous, and we ask that you do the same. While you may share the survey and encourage market contacts to vote, you may not:

    • Verify whether they have voted.
    • Complete the vote on their behalf.
    • Discuss how you or others are voting outside your own organisation.
2025 Covered Bond Awards vote breakdown
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The categories for the 2025 GlobalCapital Covered Bond Awards have been carefully selected to reflect the latest trends, changes and key growth areas in the industry.

Please note the awards period covers between August 1, 2024 and June 1, 2025.

  • Deal Awards

    Deal of the Year


    Best Innovative Deal (This award is for using diverse or new funding products and techniques, structures, call schedules, investor relations work, ESG activities, etc)


    Best ESG Deal


    Best Debut or Returning Deal


    Best Swiss franc Deal


    Best Sterling Deal


    Best Dollar Deal


    Best Euro Deal


    Best Sub-Benchmark Deal
  • Individual Awards

    Individual Awards
    Best Syndicate Banker


    Best Funding Official


    Covered Bonds Rising Star (This award is for any participant in the covered bond markets with less than 10 years’ experience)


    Lifetime Achievement Award (We welcome nominations in this category, however the winner will be chosen by GlobalCapital)
  • Issuer Awards

    Issuer of the Year




    Best ESG Issuer





    Best Eurozone Issuer





    Best non-Eurozone Issuer
  • Lead Manager Awards

    Lead Manager AwardsCovered Bond House of the Year




    Emerging Force in Covered Bonds (This award is for the bank that has most impressed you by improving its market presence to emerge as a strong player)





    Best Euro Lead Manager





    Best Dollar Lead Manager





    Best Sterling Lead Manager





    Best Non-core Currency Lead Manager





    Best Sub-Benchmark Lead Manager





    Best MTN Dealer for Covered Bonds





    Best Syndicate Bank





    Best Covered Bond Research





    Best Liquidity Provider





    Best Bank for Distribution





    Best Bank for Structuring & ALM





    Best Bank for Using Technology in Primary Bond Markets





    Best Bank for ESG Issuers





    Best Bank for Inaugural Issuers
  • Platform Service Providers Awards

    Investor of the Year




    Best Rating Agency





    Best Second Party Opinion Provider





    Best Law Firm





    Best Primary Market Technology Platform for Covered Bonds





    Best Electronic Secondary Market Trading Platform for Covered Bonds





    Best Corporate Trust Provider
  • Individual Awards

    Best Syndicate Banker




    Best Funding Official





    Covered Bonds Rising Star (This award is for any participant in the covered bond markets with less than 10 years’ experience)





    Lifetime Achievement Award (We welcome nominations in this category, however the winner will be chosen by GlobalCapital)
View the winners of the 2024 GlobalCapital Covered Bond Awards

Congratulations to all our nominees and winners! A huge thank you to everyone who contributed to the 2024 GlobalCapital Covered Bond Awards by voting.

The 2024 winners represent the very best of the talent and innovation driving the covered bond market forward.

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The 2024 winners
  • Special Awards

    Lifetime Achievement
    Winner: Wojtek Niebrzydowski — CIBC Capital Markets
    Editor's Choice
    Winner: BMO Capital Markets
  • Deal Awards

    Deal of the Year
    Winner: Toronto Dominion €2bn February 2027 floater, €2.5bn 3.191% February 2029 and €1bn 3.247% February 2034


    BPER Banca €500m 3.25% January 2031

    Caffil €500m 3.125% May 2039

    Nordea €750m January 2027 floater and €1bn 3% January 2031

    Société Générale SFH €1.25bn 3% February 2027 and €1bn 3.125% February 2036
    Best Pioneering Deal
    (This Award is for using diverse or new funding products and techniques, structures, call schedules, investor relations work, ESG activities, etc)


    Winner: Novo Banco €500m 3.25% March 2027



    Hamburg Commercial Bank €500m 3.625% January 2026 ship

    Santander €500m 3.125% May 2029 export finance Cédulas

    Toronto Dominion €750m September 2026 floater, €1.5bn 3.765% September 2026 and €1bn 3.666% September 2031

    UBS Sfr150m 1.5075% May 2029 digital
    Best ESG Deal
    Winner: BPCE €1.5bn 3.125% May 2034 green


    Bausparkasse Schwaebisch Hall €500m 2.875% January 2029 green

    Berlin Hyp €500m 2.75% February 2027 green

    Equitable Bank €500m 3.5% May 2027 social

    Korea Housing Finance Corporation €500m 3.124% March 2029 social
    Best Debut or Returning Deal
    Winner: UBS Switzerland €1bn 3.304% March 2029


    Banca Monte Dei Paschi di Siena €750m 3.5% April 2029

    Bausparkasse Schwaebisch Hall €500m 2.875% January 2029 green debut

    Novo Banco €500m 3.25% March 2027

    TSB Bank €500m 3.319% March 2029
    Best Swiss franc Deal
    Winner: UBS Switzerland Sfr350m 1.82% October 2026 and Sfr470m 2.035% October 2033


    Fédération des caisses Desjardins du Québec (CCDJ) Sfr265m 1.355% April 2027 and Sfr175m 1.42% April 2030

    Korea Housing Finance Corporation Sfr200m 1.778% February 2027 and Sfr150m 1.845% February 2030

    Lloyds Bank Sfr440m 1.87% August 2028
    Best Sterling Deal
    Winner: Barclays £500m March 2029


    ANZ £1bn December 2026

    DBS Bank £1bn May 2027

    NatWest Bank £750m March 2029

    Nationwide Building Society £750m October 2030
    Best Dollar Deal
    Winner: LBBW $600m 4.875% February 2028


    Commonwealth Bank of Australia $1.75bn 5.071% September 2028

    Deutsche Pfandbriefbank $550m 5.25% December 2026

    Nationwide Building Society $1.5bn 5.264% November 2026

    RBC $2bn 4.851% December 2026
    Best Euro Deal
    Winner: Toronto Dominion €2bn February 2027 floater, €2.5bn 3.191% February 2029 and €1bn 3.247% February 2034


    Caffil €500m 3.125% May 2039

    CRH €1.75bn 2.875% March 2031

    Nationwide Building Society €500m May 2027 floater and €500m 3.309% May 2034

    Rabobank €1bn 3.202% May 2036
  • Issuer Awards

    Issuer of the Year
    Winner: BPCE


    Caffil

    Crédit Agricole

    Nationwide Building Society

    Toronto Dominion
    Best ESG Issuer
    Winner: Berlin Hyp


    BPCE

    Caffil

    Equitable

    Korea Housing Finance Corporation
    Best Eurozone Issuer
    Winner: BPCE


    Caffil

    CRH

    LBBW

    Rabobank
    Best non-Eurozone Issuer
    Winner: Toronto Dominion


    Fédération des caisses Desjardins du Québec (CCDJ)

    DBS Bank

    Nationwide Building Society

    Santander UK
  • Lead Manager Awards

    Covered Bond House of the Year
    Winner: LBBW


    Crédit Agricole CIB

    ING

    Natixis

    UniCredit
    Best Euro Lead Manager
    Winner: LBBW


    Commerzbank

    Crédit Agricole CIB

    Natixis

    UniCredit
    Best Dollar Lead Manager
    Winner: RBC Capital Markets


    BMO Capital Markets

    TD Securities
    Best Sterling Lead Manager
    Winner: Barclays


    BMO Capital Markets

    HSBC

    Lloyds

    NatWest Markets
    Best Syndicate Bank
    Winner: Erste Group


    BNP Paribas

    Crédit Agricole CIB

    Natixis

    UniCredit
    Best Covered Bond Research
    Winner: Crédit Agricole CIB


    Barclays

    Commerzbank
    Best Liquidity Provider
    Winner: J.P. Morgan


    ING

    Santander
    Best Bank for Distribution
    Winner: Erste Group


    Barclays

    DZ Bank

    Helaba

    LBBW
    Best Bank for Structuring & ALM
    Winner: Barclays


    BNP Paribas

    HSBC

    NatWest Markets

    UBS
    Best Bank for Using Technology in Primary Bond Markets
    Winner: BNP Paribas


    Société Générale

    UBS
    Best Bank for ESG Issuers
    Winner: Crédit Agricole CIB


    HSBC

    ING

    Natixis

    NatWest Markets
    Best Bank for Inaugural Issuers
    Winner: Barclays


    BNP Paribas

    Erste

    Helaba

    LBBW
  • Platform Service Provider Awards

    Investor of the Year
    Winner: Commerzbank Treasury


    BNY Mellon Corporate Treasury

    Nordea IM

    Norges

    Union Invest
    Best Rating Agency
    Winner: Moody’s Ratings


    Fitch Ratings

    S&P Global
    Best Second Party Opinion Provider
    Winner: Sustainalytics


    ISS ESG
    Best Law Firm
    Winner: Clifford Chance


    A&O Shearman

    Linklaters

    White & Case
    Best Electronic Trading Platform for Covered Bonds
    Winner: Bloomberg


    MarketAxess

    Tradeweb
    Best Corporate Trust Providers
    Winner: BNP Paribas Securities Services


    Deutsche Bank Trust and Agency Service

    HSBC Issuer Services

    BNY Mellon Corporate Trustee Services Limited
  • Individual Awards

    Best Syndicate Banker
    Winner: Mladen Djurdjevic, Erste Group


    Vincent Hoarau, Crédit Agricole CIB

    Ken Loesken, ING

    Damian Saunders, BNP Paribas

    Alex Trulli, Natixis

    Alberto Villa, UniCredit
    Best Funding Official
    Winner: Cedric Perrier, BPCE


    Cameron Joynt, Toronto Dominion

    Petra Mellor, Nordea

    Marc Nocart, CRH

    Thor Tellefsen, DNB
    Covered Bonds Rising Star
    (for any participant in the covered bond markets with less than 10 years’ experience)


    Winner: Maxim Börsig, Erste Group

    Winner: Florian Gritzky, Erste Group



    Mathilde Lopez, Natixis

    Maria Kasatkina, Berlin Hyp

    Tara Parmar, Nationwide Building Society

    Anthony Patureau, ING

    Suraj Sheth, Barclays
Our 2024 event partners
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Become a sponsor

Put your organisation at the forefront of the most prestigious celebrations in the covered bond market.

We offer tailored sponsorship packages designed to further elevate your organisation's positioning and visibility. Whether you're looking to build brand awareness, connect with key decision makers, or showcase your expertise, there's a sponsorship opportunity designed to meet your goals.

Please speak with a member of our team to find out which sponsorship opportunity best suits your organisation and to request pricing.

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Attend the most prestigious awards night dedicated to the covered bond markets

Awards ceremony on September 18, 2025 | Seville

The Covered Bond Awards ceremony will bring together more than 100 senior professionals from across all corners of the covered bond market for an evening of networking, recognition and celebration.

The ceremony provides an opportunity to honour the brightest and the best within the industry and to raise a glass to this year's winners.

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Our attendance packages

We offer three attendance packages: Platinum, Gold, and Associate, each providing varying levels of visibility and prestige.

Please speak with a member of our team to explore which package best suits your organisation and to request pricing. Limited seats available.

2024 awards ceremony attendee breakdown
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