2010 Awards for excellence: Best Global debt house
The US bank has helped issuers raise debt through good markets and bad, driven by its integrated corporate financing franchise.
Awards for Excellence 2010
|Best Global debt house: JPMorgan|
|Also nominated: Barclays Capital, Deutsche Bank and HSBC|
For the debt capital markets, the past year was a story of feast then famine. An intoxicating rally in fixed-income assets fuelled by cheap, government funded liquidity led to record issuance, only to be followed, in the latter part of the year, by a sovereign debt crisis that brought issuance in Europe to a halt.
Success in debt capital markets therefore lay in an ability to mobilize borrowers and investors to take advantage of the reopening of new-issue markets, while also being able to offer borrowers a range of markets to issue in. JPMorgan showed its mettle as a truly global debt house not only in grabbing the largest slice of the overall market but also by playing a part in diversifying borrowers’ funding sources, such as the yankee bond market. It was also a big participant in helping revive parts of the European securitization market.
"Our DCM platform is a globally integrated cross-border business," says Therese Esperdy, JPMorgan’s global head of debt capital markets.