Western Europe's best bank for financing 2018: Barclays
Awards for Excellence 2018
Whether it was corporates, sovereigns or banks; jumbo deals, debut issues or liability management, Barclays, western Europe’s best bank for financing, was omnipresent in western Europe’s bond markets this year. Having been involved in such a high number of the most important deals of the year, it is no surprise to see it leapfrog HSBC to the top of Dealogic’s debt capital markets league table for western Europe.
Barclays’ big corporate bond deals during the period included British American Tobacco’s $17.25 billion eight-tranche deal to fund its Reynolds American purchase; the £3 billion five-tranche real estate financing for Annington; a €4.5 billion trade acquisition financing for LVMH; and Enel’s $5.5 billion and $4 billion deals. It brought first-time deals for French electricity transmission firm CTE and for ADO Properties. It acted on a series of bond deals for Volkswagen, which broke records for their size.
Barclays’ sovereign and agency bonds included Spain’s €10 billion and 30-year deals, as well as repeat issuance for the European Financial Stability Facility. Its financial institution deals included additional tier-1 issues by banks such as CaixaBank (for the first time) and Santander (at a record low coupon); Just Group’s tier-3; and Nationwide’s core capital deferred shares offering.