Awards for Excellence 2012: Best High Yield House
Deutsche demonstrated the ability to tackle off-the-run deals in challenging conditions last year to cement its leading position in high yield.
Best High Yield House: Deutsche Bank
Also nominated: Credit Suisse and Bank of America Merrill Lynch
The past 12 months has been a rollercoaster ride for the high-yield market. It has enjoyed periods of record inflows and new issuance, as well as extreme volatility and sporadic access. Navigating such a choppy seascape requires not only a first-class origination and distribution platform but also a truly global franchise. Deutsche Bank has demonstrated both over the past year and is Euromoney’s global high-yield house for 2012.
"We are not a commoditized lender and our high-yield business is not based on capital commitment," says Mark Fedorcik, global head of leveraged DCM at Deutsche Bank. "We have to compete with hustle and ideas. In future every company in every country is going to want a pipe into the rest of the world and no other high-yield house is as well positioned as we are across the US, Europe and Asia to provide this."
The persistent problems in the eurozone precipitated a wave of issuance in US dollars from the region’s corporates.