Issuers face up to the debt market shoot-out

Borrowers have rarely been under such pressure. With credit markets volatile and investors jittery, issuing windows are short lived and the penalties for getting timing wrong can be severe. Entering the capital markets has become a lottery. One week they seem stable; the next they seem to be falling apart. And just when it seems that things can't get worse ... they get worse. So who have been the winners and the losers in this daunting new-issue environment?

Overall
 Borrower of the year

runner up: best corporate borrower

 Best agency borrower
 Best high-yield borrower   Best high-grade corporate borrower
 Best securitization borrower  Best financial sector borrower 
 
By region
Western Europe | Eastern Europe | Asia | Latin America | North America




The bigger the party, the bigger the hangover. That’s how it feels this year for anyone involved in the primary debt markets.

The corporate borrowing binge is over. Even for tip-top, triple-A credits, getting new bond issues away is a headache, while the pain and anxiety of executing deals for lesser-rated names in such topsy-turvy conditions can be stomach-churning.

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