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BP, Iberdrola, Novartis star in corporate Bond Awards

BP sign logo oil British Petroleum from co media gallery 16Jun21 575x375
By Jon Hay
16 Jun 2021

GlobalCapital reveals today the winners of its Bond Awards 2021, including celebration of the achievement of top corporate banks and issuers — and Lifetime Achievement Awards for two of Europe’s most prominent corporate funding officials.

The Bond Awards — the result, as always, of a vote by market participants — crowned BP as Most Impressive Corporate Borrower and Bank of America as Most Impressive Bank for Corporate Bonds.

BNP Paribas was Most Impressive Corporate Bond House in Euros, while BofA took the dollar prize and Barclays sterling. Mizuho won Coming Force in Corporate Bonds.

Among issuers, BP, which carried off some very large and successful funding exercises in 2020, also won Most Impressive Corporate Funding Team, while Gary Admans, BP’s head of liquidity and capital markets, was named the best funding official.

Iberdrola, runner-up for the top borrower Award, won best hybrid issuer and Most Impressive Corporate Green/SRI Bond Issuer.

Novartis, one of the first few companies to follow Enel into the sustainability-linked bond market, beat the product’s inventor to the Award for that asset class.

Citigroup, Crédit Agricole, Deutsche Bank and JP Morgan also won Awards for their performance in aspects of the corporate bond market.

This year, for the first time, GlobalCapital’s Lifetime Achievement Awards celebrated two people from the corporate bond market — Bernd Bode from Volkswagen Financial Services and Peter Zirwes from Daimler (citation is below).

Because of the Covid disruption last year, the 2021 Awards cover the period July 2020 to March 2021.

We thank everyone who voted in our poll and congratulate all the winners and nominees.

We invite you to watch our online Awards Ceremony, including the Lifetime Achievement Awards, here.

A list of the corporate results is below, and a full list of all the Awards is here.

GlobalCapital Lifetime Achievement Awards

Bernd Bode

Volkswagen Financial Services

Peter Zirwes

Daimler

Lifetime Achievement Awards citation

This year we’re giving two Awards for Lifetime Achievement in the capital markets, and by an odd coincidence they’re very well matched. Two executives who have overseen funding for two of Europe’s leading companies are both retiring this summer, at the end of long and distinguished careers.

The first is Bernd Bode, who until he retired in May was head of group treasury and investor relations at Volkswagen Financial Services.

The Volkswagen Group is Europe’s biggest corporate borrower — issuing more debt than many countries — and a large part is for its financial services arm.

Bernd ran VWFS’s treasury operation ever since it was established separately from the industrial treasury in 2002. But even before that in the 1990s he was involved in bringing together diverse funding activities around the world for VW Bank.

While this borrowing is now centrally managed, it is extremely varied, taking in bonds, CP and ABS in 18 currencies.

Our second award winner is Peter Zirwes, who will step down in August as head of corporate finance at Daimler — the second biggest corporate issuer.

Daimler has given Peter several difficult postings over the years. Daimler was a shareholder of EADS, the aerospace company, and Peter ran its complex customer finance business for several years when the company was created. He was on the integration team when Daimler bought Chrysler, and spent four years in the US as liaison between the finance teams in Stuttgart and Michigan. Although it was a happy time, he was one of those who ultimately had to tell the board that the merger was not working out.

Since returning to Germany, Peter has overseen a tripling of Daimler’s funding requirement.

For each of their companies, Bernd and Peter have built up a modern, professional treasury operation of worldwide scope, to finance a wide variety of financial assets efficiently and with low risk.

Their careers span the development of corporate bonds and ABS in Europe from small corners of the market to the powerhouses they are today. Both Bernd and Peter have made invaluable contributions to that development, by steering two of the market’s most important borrowers calmly and adeptly, in a way that has always retained the confidence of the market, even during some sharp crises.

Both are highly praised by bankers who have worked with them over the years, not just for the quality of their work, but for being, as one DCM banker put it: “without making any concessions on their professionalism, extremely pleasant people to deal with — and I think it matters”.

See our interview with Bernd and Peter at the end of the Awards Ceremony here.

Corporate Bonds

CORPORATE BOND INVESTMENT BANK AWARDS

Most Impressive Bank for Corporate Bonds

Bank of America

2 BNP Paribas

3 JP Morgan

Coming Force in Corporate Bonds

Mizuho

2= SMBC Nikko, Standard Chartered

Most Impressive Corporate Bond House in Euros

BNP Paribas

2 Société Générale

3= Deutsche Bank, UniCredit

Most Impressive Corporate Bond House in Dollars

Bank of America

2 JP Morgan

3 Citigroup

Most Impressive Corporate Bond House in Sterling

Barclays

2 HSBC

3 NatWest Markets

Most Impressive Bank for Corporate Green/SRI Capital Markets

BNP Paribas

2 JP Morgan

3 Crédit Agricole

Most Impressive Investment Bank for Sustainability-Linked Finance

Crédit Agricole

2= Goldman Sachs, ING, Standard Chartered

Most Impressive Bank for Corporate Swaps and Other Derivatives

Barclays

2 Citigroup

3= BNP Paribas, Société Générale

Most Impressive Bank for Corporate Hybrid Capital

Citigroup

2 Bank of America

3 Standard Chartered

Most Impressive Bank for Corporate Liability Management

Deutsche Bank

2 Bank of America

3 Barclays

Most Impressive Corporate Coverage Team

BNP Paribas

2 JP Morgan

3= Deutsche Bank, HSBC

Most Impressive Syndicate Team for Corporate Bonds

JP Morgan

2 Bank of America

3= BNP Paribas, Citigroup

CORPORATE BOND INVESTMENT BANKER AWARD


Most Impressive Corporate Bond Origination Banker

Mark Kitchen, Bank of America

CORPORATE BORROWER AWARDS

Most Impressive Corporate Borrower

BP

2 Iberdrola

3 Bayer

Most Impressive Non-European Corporate Borrower in European Currencies

Verizon Communications

2 Medtronic

3 Coca-Cola

Most Innovative Corporate Borrower

Verbund

2 Chanel

3 Enel

  


Most Impressive Corporate Funding Comeback after Covid-19 Pandemic

Heathrow, Ryanair (joint winners)

2 Easyjet

3 Lufthansa

Most Impressive Corporate Hybrid Capital Issuer

Iberdrola

2 Eni

3 Total

  


Most Impressive Debut Corporate Bond Issuer

Traton

2 Vantage Towers

3 Inwit

Most Impressive Corporate Green/SRI Bond Issuer

Iberdrola

2 Ørsted

3 Daimler

  


Most Impressive Sustainability-Linked Bond Issuer

Novartis

2 Enel

3 Ahold Delhaize

  


Most Impressive Corporate MTN Issuer

Volkswagen

2 National Grid

3 Toyota

Most Impressive Corporate Funding Team

BP

2 Total

3 BMW

CORPORATE FUNDING OFFICIAL AWARD

Most Impressive Corporate Funding Official

Gary Admans, BP

2 Alessandro Canta, Enel

3= Jason Bristow, Medtronic; Patrick Halpin, BP; Jamie Stead, Vodafone

CORPORATE BOND AWARDS FOR OTHER MARKET PARTICIPANTS


Best Debt Advisory Firm for Corporate Bonds

Rothschild

2 Ernst & Young

3 Société Générale

Most Influential Investor in Corporate Bonds

BlackRock

2 APG

3 Pimco

Best Rating Agency for Corporate Bonds

Moody’s

2 S&P Global

3 Fitch Ratings

Best Law Firm for Corporate Bonds

Linklaters

2 Allen & Overy

3 Clifford Chance

By Jon Hay
16 Jun 2021