Primary debt poll: Full methodology


Published on:
Separating the wheat from the chaff in debt services
Survival of the fittest
Primary debt poll: Overall
Primary debt poll: Best service provision
Primary debt poll: Best by currency
Primary debt poll: Best by product

Funding officials at the largest 300 borrowers on the global debt capital markets were asked to rate their top three preferred banks in one of three categories: services to clients, major currency sectors, and by product type.

By limiting the polling to this group, Euromoney has sought to gather the opinions of issuers that, through their volume of issuance, are covered by a large group of banks. They issue frequently, and are best placed to judge the relevant merits of different lead managers.

Scores were weighted as follows: Four points were awarded for the first choice in each category, three points for the second place and two points for third place.

When all votes had been submitted, respondents were divided into quartiles based on their amount of issuance over the past two years. The scores of the largest issuers by volume were multiplied by four; the next quartile by three, the next by two, and the quartile with the least volume was counted as voted. Through this method, more weight was given to borrowers that issue most frequently.

Polling was carried out from Tuesday March 4 to Monday April 28 2008.

Euromoney received 74 responses to the poll from issuers. This represents 12.7% ($0.8 trillion) of the issuance by volume of the top 300 issuers list.

In 2007 Euromoney received 77 responses to the poll equal to 30.8% ($4.2 trillion) of the issuance of the top 250 issuers list.

For all voters:

Voter number breakdown by institution type
Non-financial corporations27.0%
State agencies13.5%
Other financial agencies8.1%
Insurance companies1.4%
Multilateral agencies1.4%
Voters number breakdown by region
Western Europe 68.9%
North America 28.4%

For all voters:

Average $ deal value (m)Average number of issues
Average $ deal value (m)Average number of issues

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