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*THE WINNERS* mtn-i MTN Awards



Embracing evolution

We are very proud to announce mtn-i’s 2017 MTN, Private Placement and Structured Debt Awards! This year’s recognitions, which include two important new award categories, reflect a deeper, more ambitious search than ever before for innovative issuer and investor solutions, as well as the evolution of dealers’ business models and the increasing impact of new technology.

With dealers moving away from old flow models to focus on opportunities best matched to their competitive edges, we introduce our ‘Power Performer’awards to recognise these efforts. Similarly, our new ‘Market Future’ awards embrace technology’s role in developing these markets.

A record 32 institutions pitched for mtn-i awards this year, putting forward hundreds of ideas. We weighed these inputs against our data, analysis and daily coverage of these markets.

The resulting decisions announced today highlight what we believe were the year’s most significant deals and performances. They provide a definitive illustration of private debt markets’ value and of the key forces shaping them in 2017 and beyond – including the boom in corporate origination(and fall-off in FIG offerings, notwithstanding the ramp-up in senior non-preferred), the trend for hybrid public/private market execution and the return of inflation structures.

They also celebrate the longer-term revolutions represented by cross-market debt repackaging, blockchain execution and the rise of green/SRI markets.

Corporate push

Overall private debt volumes fell this year as buoyant public markets and the ECB proved more attractive sources of FIG funding. Nonetheless, the product and borrower palette continues to expand.

Most notably, it was a bumper year for corporate access to private debt demand in all formats – particularly investor appetite for new credits, as well as the Schuldschein market’s surging growth and internationalisation.

Corporates dominate our Rising Star and Deal of the Year recognitions and even feature among our new Market Future awards, which herald Daimler’s groundbreaking use of blockchain. The strength of demand for unrated and triple B names is evident in landmark transactions for names such as Dyson, KION Group and Mohawk Industries, and underpins the strategic execution of Rising Star issuers Aroundtown and Hitachi Capital.

Moreover, notable sales for Caruna, Elenia and Ford made RBC our Rising Star corporate dealer.

Outperformance recognised

Corporate transactions also figure significantly among our first set of Power Performers. Goldman Sachs’ striking push into non-core currencies, for example, included green and conventional debt in Norwegian kroner for Alperia and Aroundtown, as well as 30-year Swedish kronor for SNCF Reseau.

NatWest helped drive the triple-B trend with notable deals for Ellevio, Infra Park and WPP.

Barclays too boasted corporate deals for Telefonica and GB Social Housing (including modified Dutch auctions) among its stand-out initiative in taps. This also formed part of the firm’s powerful push in emerging market currencies.

Another of the year’s key themes, inflation structures, was prominent in our Power Performers’ stories – again, especially for corporate issuers. While the reviving asset class’s standout deal was inevitably Ireland’s debut via a EUR600m-plus domestic HICPx-linker, linker landmarks formed notable elements of both of Barclays and NatWest’s performances.

The former placed over EUR400m of 30-year Eurozone HICPx-linkers for SNCF Reseau. The latter spearheaded UK institutions’ shift from into CPI-linkers from the traditional RPI benchmark with sales for Affinity Water and United Utilities.

In addition, Lloyds married inflation uniquely with green amortising debt in its Deal of the Year with RBC for Tideway and buyer M&G, while a 15-year French HICPx-linker for APRR was part of Natixis’s Investor Solution award for long-dated Euro origination and distribution.

Preferential treatment

This year’s USD5bn-equivalent take-off in senior non-preferred is another of the year’s key themes captured by our Power Performers. Banco Santander accounts for more than half of non-syndicated sales of the bail-in product, with new issues in five currencies. The Spanish megabank’s own dealer leads as many as 16 firms to have placed the product privately for it (who also include Goldman opening the Norwegian SNP sector).

Senior non-preferred’s unexpected private debut in the backwater of Romanian leu is also recognised in our Deals of the Year.

Commitment measured

In the past a clutch of banks maintained a full-service, ‘king of all markets’ approach to MTNs. Few now have maintained the resource commitment to lead key markets across the globe – a performance that again wins Citigroup our MTN Dealer of the Year award.

Similarly, HSBC leveraged the power and breadth of its global franchise to pull off an extraordinary number of private placement origination coups. Accordingly, it is again our Private Placement Dealer of the Year.

Among issuers, while many new names burned bright one name’s commitment to a truly global strategy for long-term access to the best priced markets triumphed – generating a powerful pick-up in its volumes even as overall flows fell, thanks to its rare ability to navigate both the Japanese and US retail markets. SEK is our Issuer of the Year.

Green dream

Its leadership in green and SRI financing is much lauded. But our Editor’s Award recognises Credit Agricole‘s commitment to embedding the values of these markets throughout its business. Even defining the deals it will no longer do if they contravene these and playing a leading role in producing the Green principles which will secure the fast growing market’s future credibility.

Our award also highlights capital markets’ growing investment in making our world a better place – a remarkable statement to be able to make a decade on from the global financial crisis.

CLICK TO SEE ALL AWARD WINNERS…

  • Save the date – 8th February 2018 for our awards dinner
  • Invite clients, book a table and celebrate your success in style
  • REGISTER ONLINE TODAY – literally takes 3 minutes, call us on +44 20 7437 1331 or email events@mtn-i.com.

mtn-i Christmas party – the pictures!

 

Over 70 market participants from some 30 institutions enjoyed festive cocktails at mtn-i’s Christmas party in the ski lodge-themed London EDITION Hotel, while listening to live Christmas classics thanks to the very talented Liv Austen.

To protect the guilty we can’t say who was there – but the party ended at a karaoke bar in the small hours of the morning!

All we can say is that the suspects are all among the gallery of pictures from the night, which you can now find HERE…

We would also like to thank all the MTNers who braved the cold and helped us raise over £1,000 for CATS Foundation and Free to Be Kids by running 5k at the end of November. These funds have gone directly to helping vulnerable children.

See the pictures from the fun run HERE…

We look forward to seeing you all at an mtn-i event soon…

mtn-i Christmas Party *TOMORROW*

Our MTN Market Christmas Party is next week at the 5* London EDITION Hotel.

Here are the institutions who have already confirmed their attendance…

  • Bank of America Merrill Lynch
  • Barclays
  • BMO Capital Markets
  • BNP Paribas
  • Chalkhill Partners
  • Citi
  • Commerzbank
  • Credit Agricole
  • Credit Suisse
  • Daiwa
  • Deutsche Bank
  • Eurobank
  • Goldman Sachs
  • Hitachi Capital UK
  • Horseman Capital Management
  • HSBC
  • IFC
  • Intesa Sanpaolo
  • J.P. Morgan
  • Jefferies
  • LBBW
  • Lloyds
  • MUFG
  • Mizuho
  • Natwest Markets
  • Nomura
  • PBB Deutsche Pfandbriefbank
  • Santander
  • Societe Generale
  • Standard Chartered
  • TD Securities
  • TFL

Click here to download your invitation… and if you haven’t already, don’t forget to RSVP to events@mtn-i.com.

*ONE WEEK TO GO* mtn-i Christmas Party

Our MTN Market Christmas Party is next week at the 5* London EDITION Hotel.

Here are the institutions who have already confirmed their attendance…

  • Bank of America Merrill Lynch
  • Barclays
  • BMO Capital Markets
  • BNP Paribas
  • Chalkhill Partners
  • Citi
  • Commerzbank
  • Credit Agricole
  • Credit Suisse
  • Daiwa
  • Deutsche Bank
  • Eurobank
  • Hitachi Capital UK
  • Horseman Capital Management
  • HSBC
  • IFC
  • Intesa Sanpaolo
  • J.P. Morgan
  • Jefferies
  • LBBW
  • Lloyds
  • MUFG
  • Mizuho
  • Natwest Markets
  • Nomura
  • Santander
  • Societe Generale
  • Standard Chartered
  • TD Securities
  • TFL

Click here to download your invitation… and if you haven’t already, don’t forget to RSVP to events@mtn-i.com.

Time to think about the 12th Americas Structured Note Awards…

Which Deals, Dealers, Issuers, Investors and Rising Stars of 2017 deserve recognition with mtn-i Awards?

Submit your deal, dealer or issuer nominations to be considered for our widely recognised and respected awards.

  • Deals of the Year
  • Investor Solutions
  • Dealers and Issuers of the Year
  • Rising Stars

Send us your nominations in Word, PDF, Powerpoint or email format. Please include term sheets, data submissions and other supporting material.

NOMINATIONS OPEN: 8th January 2018

SUBMISSIONS & PITCH DEADLINE: 23rd February 2018

So get ready!

  • Which ideas, structures, strategies, innovations, products and credits do you want to see pitched at our Americas Structured Note Showcase?
  • If you had 5 minutes to get a distributor, investor or issuer’s attention after our poolside networking lunch, what would you pitch? And who would you invite to join your table to hear it?
  • Nominate your deals, solutions, performances and rising star stories by email to awards@mtn-i.com and book your pitch call / meeting with us!
  • Save the date: 12th April 2018
  • Think about clients & colleagues to celebrate with on the night!

And save these dates too!

  • 28th November 2017 for our MTN market charity fun run, London
  • 5th December 2017 for our London MTN Christmas Party, The London EDITION Hotel
  • 8th February 2018 for our 15th MTN Showcase & Global Awards, The Andaz Hotel, London

If you have any questions or require any clarification about the awards process please call us on +44 20 7437 1331 or email awards@mtn-i.com.

Thank you for attending mtn-i APac 2017

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