The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Best financial borrower

Nordea Bank
Despite its limited borrowing needs, the Scandinavian bank has established an impressive track record on the international debt markets

Nordea Bank 500mn CMS-linked tier 1
Number of investors by ticket size (mn)

Several banks could be considered for the award of financial borrower of the year. Some have many billions to raise and will hit a range of markets continuously in order to so, and market participants will argue that their paper is more difficult to sell than that from rare, sporadic issuers. But issuing big volumes during the past year, at a time when investors have a ravenous appetite, has not proved that difficult.

Nordea Bank, however, stands out for having been highly professional while opportunistically accessing the international capital markets. It managed to achieve tight execution on its new issues at the same time as leaving investors with a positive feeling – not an easy balance to strike. Many of the deals it printed created benchmarks for other, more active issuers.

The fact that this borrower is small, and so has few bites at the cherry, reinforces the judgement that it has been on the right track with its new issues.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree