Our 11th mtn-i European and Global
MTN Awards showcase another rich
year of innovation and growth.
Our 2013 Editor’s Award, Investor Solutions, Institutional Performance,
Landmark Deal and Rising Star |
|
recognitions highlight the many creative ways in which MTNs and private placements met needs that international debt investors could not satisfy in 2013’s oversubscribed public markets. |
|
|
FURTHER AND FURTHER |
|
|
|
| Investors and issuers went further than ever before to find yield and funding. Issuers recognised this year have never been more far-flung, from Banco de Chile and Corporacion Andina de Fomento to |
|
Auckland Council, Province of British Columbia and Qatar National Bank. Dealers delivered borrowers into more regions than ever before. |
|
|
LONGER AND LONGER |
|
|
|
| The hunt for yield drove demand into maturities sometimes decades beyond benchmark curves. Buyers of the longest of |
|
this year’s Landmark Deals, a Republic of Italy EUR500m MTN, won’t see their capital again until 2063. |
|
|
LOWER AND LOWER |
|
|
|
| The chance to lock in historic low funding levels in tenors providing attractive returns for investors drove new landmarks in ultra-long corporate debt, recognised in several of our Institutional Performance awards. |
|
Overall, we recognise more corporate names in our awards this year than ever before – including BASF, Deutsche Bahn and Poste Italiane. |
|
|
HIGHER AND HIGHER |
|
|
|
| Ground-breaking product ideas and expert harnessing of basis swaps also provided routes to yield generation. LBBW produced 4%+ yields on SSA names with |
|
its increasable, switchable coupon callables, while Barclays exploited a series of arbitrage windows to bring rare value. |
|
|
NEW AND NEWER |
|
|
|
| Unmet investor demand also drove important initiatives. Santander further developed its borrower platforms with a new ECP/EMTN hybrid, while an |
|
International Finance Corporation facility smoothed the opening of new currencies to international investors. |
|
