Organisations from across the the covered bond market came together in Porto on September 12 to celebrate their successes over the preceding year at GlobalCapital’s annual awards dinner.
The GlobalCapital Covered Bond Awards celebrate the most notable market achievements in the period between August 1, 2023 and May 31, 2024.
Over the last year, the covered bond market has shown its strength and resilience in the face of new and returning challenges. Throughout the turbulence, covered bonds have remained a reliable and ever-present source of funding for new and well-established issuers.
The atmosphere was upbeat as attendees from all corners of the market came together in sunny Porto to enjoy each other’s company, share in the ups and downs of the previous year, and congratulate the winning deals, issuers, banks, service providers and individuals.
Uniquely, the nominees and winners of the GlobalCapital Covered Bond Awards are decided by the industry itself, through a survey that took place in May and June. This means that the winners reflect those that are considered by their clients and counterparts to be the very best.
The exceptions to the polled categories are the Lifetime Achievement award, and the Editor's Choice award, which are selected by the GlobalCapital editorial team.
Wojtek Niebrzydowski, vice-president, treasury at CIBC Capital, won this year's Lifetime Achievement Award. He came highly recommended by colleagues and counterparts from across the market. Under his watch, CIBC has played a key role in reopening markets during periods of crisis, as well as establishing a strong and regular presence in US and Australian dollars, Swiss francs and sterling.
BMO Capital Markets was awarded this year's Editor's Choice, in recognition of its significant growth over the past year. Having expanded its covered bond franchise across markets, the bank stood out for its strong, emerging presence in dollars and sterling in particular.
Congratulations to all our winners and nominees, and huge thanks to all those who took the time to vote in the poll. The full list of winners and nominees is below.
Click here to download a PDF of the winners.
The Winners
Lifetime Achievement
Wojtek Niebrzydowski — CIBC Capital Markets
Editor's Choice
BMO Capital Markets
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Deal of the YearWinner: Toronto Dominion €2bn February 2027 floater, €2.5bn 3.191% February 2029 and €1bn 3.247% February 2034
BPER Banca €500m 3.25% January 2031
Caffil €500m 3.125% May 2039
Nordea €750m January 2027 floater and €1bn 3% January 2031
Société Générale SFH €1.25bn 3% February 2027 and €1bn 3.125% February 2036Best Pioneering Deal(This Award is for using diverse or new funding products and techniques, structures, call schedules, investor relations work, ESG activities, etc)
Winner: Novo Banco €500m 3.25% March 2027
Hamburg Commercial Bank €500m 3.625% January 2026 ship
Santander €500m 3.125% May 2029 export finance Cédulas
Toronto Dominion €750m September 2026 floater, €1.5bn 3.765% September 2026 and €1bn 3.666% September 2031
UBS Sfr150m 1.5075% May 2029 digitalBest ESG DealWinner: BPCE €1.5bn 3.125% May 2034 green
Bausparkasse Schwaebisch Hall €500m 2.875% January 2029 green
Berlin Hyp €500m 2.75% February 2027 green
Equitable Bank €500m 3.5% May 2027 social
Korea Housing Finance Corporation €500m 3.124% March 2029 socialBest Debut or Returning DealWinner: UBS Switzerland €1bn 3.304% March 2029
Banca Monte Dei Paschi di Siena €750m 3.5% April 2029
Bausparkasse Schwaebisch Hall €500m 2.875% January 2029 green debut
Novo Banco €500m 3.25% March 2027
TSB Bank €500m 3.319% March 2029Best Swiss franc DealWinner: UBS Switzerland Sfr350m 1.82% October 2026 and Sfr470m 2.035% October 2033
Fédération des caisses Desjardins du Québec (CCDJ) Sfr265m 1.355% April 2027 and Sfr175m 1.42% April 2030
Korea Housing Finance Corporation Sfr200m 1.778% February 2027 and Sfr150m 1.845% February 2030
Lloyds Bank Sfr440m 1.87% August 2028Best Sterling DealWinner: Barclays £500m March 2029
ANZ £1bn December 2026
DBS Bank £1bn May 2027
NatWest Bank £750m March 2029
Nationwide Building Society £750m October 2030Best Dollar DealWinner: LBBW $600m 4.875% February 2028
Commonwealth Bank of Australia $1.75bn 5.071% September 2028
Deutsche Pfandbriefbank $550m 5.25% December 2026
Nationwide Building Society $1.5bn 5.264% November 2026
RBC $2bn 4.851% December 2026Best Euro DealWinner: Toronto Dominion €2bn February 2027 floater, €2.5bn 3.191% February 2029 and €1bn 3.247% February 2034
Caffil €500m 3.125% May 2039
CRH €1.75bn 2.875% March 2031
Nationwide Building Society €500m May 2027 floater and €500m 3.309% May 2034
Rabobank €1bn 3.202% May 2036 -
Issuer of the YearWinner: BPCE
Caffil
Crédit Agricole
Nationwide Building Society
Toronto DominionBest ESG IssuerWinner: Berlin Hyp
BPCE
Caffil
Equitable
Korea Housing Finance CorporationBest Eurozone IssuerWinner: BPCE
Caffil
CRH
LBBW
RabobankBest non-Eurozone IssuerWinner: Toronto Dominion
Fédération des caisses Desjardins du Québec (CCDJ)
DBS Bank
Nationwide Building Society
Santander UK -
Covered Bond House of the YearWinner: LBBW
Crédit Agricole
ING
Natixis
UniCreditBest Euro Lead ManagerWinner: LBBW
Commerzbank
Crédit Agricole
Natixis
UniCreditBest Dollar Lead ManagerWinner: RBC Capital Markets
BMO Capital Markets
TD SecuritiesBest Sterling Lead ManagerWinner: Barclays
BMO Capital Markets
HSBC
Lloyds
NatWest MarketsBest Syndicate BankWinner: Erste Group
BNP Paribas
Crédit Agricole
Natixis
UniCreditBest Covered Bond ResearchWinner: Crédit Agricole CIB
Barclays
CommerzbankBest Liquidity ProviderWinner: JP Morgan
ING
SantanderBest Bank for DistributionWinner: Erste Group
Barclays
DZ Bank
Helaba
LBBWBest Bank for Structuring & ALMWinner: Barclays
BNP Paribas
HSBC
NatWest Markets
UBSBest Bank for Using Technology in Primary Bond MarketsWinner: BNP Paribas
Société Générale
UBSBest Bank for ESG IssuersWinner: Crédit Agricole
HSBC
ING
Natixis
NatWest MarketsBest Bank for Inaugural IssuersWinner: Barclays
BNP Paribas
Erste
Helaba
LBBW -
Investor of the YearWinner: Commerzbank Treasury
BNY Mellon Corporate Treasury
Nordea IM
Norges
Union InvestBest Rating AgencyWinner: Moody’s Ratings
Fitch Ratings
S&P GlobalBest Second Party Opinion ProviderWinner: Sustainalytics
ISS ESGBest Law FirmWinner: Clifford Chance
A&O Shearman
Linklaters
White & CaseBest Electronic Trading Platform for Covered BondsWinner: Bloomberg
MarketAxess
TradewebBest Corporate Trust ProvidersWinner: BNP Paribas Securities Services
Deutsche Bank Trust and Agency Service
HSBC Issuer Services
BNY Mellon Corporate Trustee Services Limited -
Best Syndicate BankerWinner: Mladen Djurdjevic, Erste Group
Vincent Hoarau, Crédit Agricole
Ken Loesken, ING
Damian Saunders, BNP Paribas
Alex Trulli, Natixis
Alberto Villa, UniCreditBest Funding OfficialWinner: Cedric Perrier, BPCE
Cameron Joynt, Toronto Dominion
Petra Mellor, Nordea
Marc Nocart, CRH
Thor Tellefsen, DNBCovered Bonds Rising Star(for any participant in the covered bond markets with less than 10 years’ experience)
Winner: Maxim Börsig, Erste Group
Winner: Florian Gritzky, Erste Group
Mathilde Lopez, Natixis
Maria Kasatkina, Berlin Hyp
Tara Parmar, Nationwide Building Society
Anthony Patureau, ING
Suraj Sheth, Barclays
If you have any queries about the Awards, please contact Sophie Astles.
For information on commercial opportunities related to the Covered Bond Awards, please contact Jack Thomson.