Euromoney’s borrower awards capture the most important names and trends seen across the globe during the past 12 months.
June 2008
June 2007
Euromoney’s borrower awards capture the most important names and trends seen across the globe during the past 12 months.
June 2006
Here are the bond issuers that have taken the market by storm over the past 12 months: from the IFC, punching above its weight within the World Bank group with its pioneering work in developing local bond markets, to Bayer’s use of innovative methods to maintain its credit profile while making acquisitions.
May 2005
What connects the world's best borrowers in 2005? Their
ability to secure attractive funding through innovative
structures or reaching out to new markets, often when
the conditions are not in their favour.
June 2004
As Euromoney's annual awards show, best borrowers come in all shapes and sizes, winning acclaim because of their investor appeal, tight pricing, good timing, or structural ingenuity. But, as Kathryn Tully reports, activists on the buy side are developing a more formal view of the basics of an investor-friendly issuer.
June 2003
Primary debt capital markets picked up so significantly in May that some bankers felt able to forecast a bumper crop of issuance for the year. But with macro events so unpredictable they weren't betting their all on that outcome.
June 2002
Euromoney profiles those sovereign, agency, corporate, high yield, financial and securitization issuers that have best coped with the unprecedented volatility in international capital markets in the past year. Our writers look at Europe, Asia and the Americas.
June 2001
The highly volatile debt capital markets of the past 12 months have provided an extraordinary set of challenges to borrowers, whether they be highly experienced and well-rated issuers or less creditworthy newcomers. The borrowers which Euromoney here hails as the best from across the world are those who have coped best with markets that one moment are closed, and the next eager for new issues, that one moment cry out for credit risk and yield, and the next are hostile to any but the best-rated names. Some issuers have succeeded by timing their entry into the markets shrewdly. Others have had to show abundant flexibility and innovation to raise funds when investors have been at their most risk averse. Sovereign and agency issuers have pursued the trend towards large, liquid deals, though some now fear investors are being saturated. A wide variety of lower-rated and even some high-rated names have pushed the boundaries of securitization technology in an effort to diversify funding sources. And public corporates have learned the importance of strong debt management to their equity valuations.
January 2000
It's been a tough year for many borrowers in the international capital markets. Corporate issuers in particular have fallen quickly from grace, having been the market's darlings a year ago. Now fixed income investors across the world are increasingly risk-averse. Certain sectors of the primary markets, US high yield for example, are very difficult to access. In response to these troubles, many of those borrowers that bankers and investors have nominated to be awarded for their efforts in the past 12 months have reverted to a strategy first made popular by Fannie Mae two years ago. They are striving to produce large, liquid benchmark issues that will at least give investors the comfort that they can easily trade in and out.
June 1999
June 1998
As our awards show, the world's best borrowers have turned adversity to their advantage.
June 1997
The European Investment Bank, Euromoney's borrower of the year, is snapping at the World Bank's heels with careful timing and improved investor relations. Russia, best debut borrower, excited the market with its $1 billion and Dm2 billion opening salvos. While the experienced team in Buenos Aires makes Argentina our top emerging market borrower a few lines.
June 1996
The techniques that constitute state-of-the-art borrowing are growing in sophistication. But having the latest black box doesn't guarantee success. Issuers also need old-fashioned market savvy to get the lowest-cost funds. Here are the ones that combined both qualities over the past year