GlobalCapital is delighted to open the voting for the market to select the winners of its 2025 Bond Awards, recognised as the only comprehensive awards for performance in the international bond markets, chosen by the market for the market.
Back for their 18th year, the GlobalCapital Bond Awards are the only awards dedicated to issuers, investment banks, investors, rating agencies, law firms and advisers in the international bond markets that are determined by a poll of market participants.
Several new categories have been added to the awards for 2025 to reflect changes in the markets themselves, including Most Impressive SSA Issuer in Australian Dollars, Most Impressive House for SSA Research, Most Impressive House for Financial Institution Research and Most Impressive FIG House for Inaugural Issuers and Asset Classes.
There are also separate awards for African and Middle Eastern banks and issuers for the first time. A full category list can be downloaded here.
Voters are invited to commend not just the biggest players, but those that have impressed them during the past year by showing outstanding market acumen, intelligence and innovation. This is your chance to choose the leading institutions and individuals in your market.
KEY DATES
Survey opens: March 4, 2025
Survey closes: April 4, 2025
Shortlist published April 26, 2025
Winners announced: June 18, 2025
METHODOLOGY
The principle of the poll is that banks, borrowers, investors, lawyers and other service providers all vote for most the impressive institutions in the debt capital markets.
The Awards are for performance from April 1, 2024 to March 31, 2025
Borrowers vote for the best banks and bankers, and banks vote for the best borrowers and funding officials. Other market participants can vote for both. Firms are not permitted to vote for themselves or their affiliates.
The poll is divided into four sections for: Supranational, Sovereign and Agency bonds; Financial Institution bonds; Corporate bonds, and Emerging Market bonds.
You will be shown categories depending on your role in the market, so there is no requirement to complete the entire poll.
A full list of categories and the rules of the poll can be viewed below, and on our Awards Page.
If you have any questions about the research process, please contact Sophie Astles, Head of Awards & Research
For more information about sponsorship or attending the Awards Dinner, please contact our sales team
RULES OF THE POLL
Honest opinion: Your vote must be your honest opinion. If your chosen candidate does not win, you would rather a deserving candidate did than an undeserving one. Tactical voting, for example for weak candidates, is forbidden. We reserve the right to ask your reasons for your vote
One vote per institution: In each category, one vote is allowed per institution. Please consult with your colleagues before you submit your vote. It is fine for several colleagues to vote in different categories. As far as possible, please try to coordinate with your colleagues to ensure that only one person from your firm votes in each category. However, if this is not possible, do not worry — GlobalCapital will reconcile any excess votes.
No self-voting: In the awards for organisations, you may not vote for your own institution, a subsidiary or an affiliate. In the awards for individuals you may not vote for employees of your own institution, a subsidiary or an affiliate.
Campaigning is forbidden: GlobalCapital will keep your votes entirely confidential and anonymous and we ask that you do the same. There should not be any discussion of how you plan to vote, or have voted, with anyone outside your firm. You are welcome to ask market contacts to vote for you, but you are not allowed to check that they have done so or offer any inducements, such as mutual voting.
CATEGORIES
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SSA BORROWER AWARDS
- Overall Most Impressive SSA Funding Team
- Most Innovative SSA Issuer
- Most Innovative SSA Issuer at Using New Bond Market Technology
- Most Impressive SSA Issuer in Dollars
- Most Impressive SSA Issuer in Euros
- Most Impressive SSA Issuer in Sterling (This award is for Supranational, Agency and Sub-sovereign issuers only)
- Most Impressive SSA Issuer in Australian dollars
- Most Impressive Sovereign Funding Team
- Most Impressive Supranational, Agency and Sub-sovereign Funding Team with an Annual Borrowing Requirement of €20bn-equivalent and above
- Most Impressive Supranational, Agency and Sub-sovereign Funding Team with an Annual Borrowing Requirement of between €10bn and €20bn
- Most Impressive Supranational, Agency and Sub-sovereign Funding Team with an Annual Borrowing Requirement of under €10bn
- Most Impressive Sovereign ESG Bond Issuer
- Most Impressive Supranational, Agency and Sub-sovereign ESG Bond Issuer
- Most Impressive SSA MTN Issuer
SSA FUNDING OFFICIAL AWARDS(these Awards are for individuals)- Most Impressive Sovereign Funding Official
- Most Impressive Supranational Funding Official
- Most Impressive Agency Funding Official
- Most Impressive Sub-sovereign Official
- Rising Star SSA Funding Official (This Award is for someone with less than 10 years’ capital markets experience)
SSA INVESTMENT BANK AWARDS- Overall Most Impressive Bank for SSA Bonds
- Emerging Force in SSA Bonds
- Most Impressive Bank for SSA ESG Capital Markets
- Most Impressive Bank in Using New Technology for SSA Primary Bond Markets
- Most Impressive SSA Coverage Team
- Most Impressive Syndicate Team for SSA Bonds
- Most Impressive SSA House in Euros
- Most Impressive SSA House in Dollars
- Most Impressive SSA House in Sterling
- Most Impressive SSA House in Australian dollars
- Most Impressive SSA House for the Canadian Market
- Most Impressive SSA House for the Japanese Market
- Most Impressive MTN Dealer for SSAs
- Most Impressive House for SSA Research
SSA BOND BANKER AWARDS- Most Impressive SSA Syndicate Banker
- Most Impressive SSA Origination Banker
- Rising Star SSA Banker (This Award is for someone with less than 10 years’ capital markets experience)
- Most Impressive ESG Investment Banker
OTHER MARKET PARTICIPANTS- Best Technology Platform for the SSA Primary Bond Market
- Most Influential Investor in SSA Bonds
- Best Rating Agency for SSA Bonds
- Best Law Firm for SSA Bonds
- Best Second Party Opinion Provider for SSA ESG Bonds
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FIG BORROWER AWARDS
- Most Impressive Financial Institution Borrower
- Most Innovative Financial Institution Borrower
- Most Impressive Financial Institution Issuer of Capital
- Most Impressive Financial Institution Issuer of Senior Unsecured Debt
- Most Impressive Debut/Returning Financial Institution Unsecured Issuer
- Most Impressive FIG Issuer at Using New Bond Market Technology
- Most Impressive Financial Institution Issuer at Using Liability Management
- Most Impressive Financial Institution ESG Bond Issuer
- Most Impressive Financial Institution MTN Issuer
FIG FUNDING OFFICIAL AWARDS- Most Impressive Financial Institution Funding Official
- Rising Star Financial Institution Funding Official (this Award is for someone with less than 10 years’ capital markets experience)
FIG BANK AWARDS(these Awards are for investment banks as arrangers and bookrunners of FIG bonds, not for banks as issuers of their own bonds)- Most Impressive Bank for Financial Institution Bonds
- Emerging Force in Financial Institution Bonds
- Most Impressive Syndicate Team for Financial Institution Bonds
- Most Impressive Bank for Financial Institution Capital and Regulatory Advice
- Most Impressive Bank for Senior Unsecured Financial Institution Bonds
- Most Impressive Bank for Insurance Debt
- Most Impressive Investment Bank for Financial Institution ESG Capital Markets
- Most Impressive Bank for Liability Management for Financial Institutions
- Most Impressive FIG House in Euros
- Most Impressive FIG House in Dollars
- Most Impressive FIG House in Sterling
- Most Impressive FIG House in Australian dollars
- Most Impressive FIG House in Swiss francs
- Most Impressive FIG House in Yen
- Most Impressive MTN Dealer for Financial Institutions
- Most Impressive FIG House for Inaugural Issuers and Asset Classes
- Most Impressive Bank in Using New Technology for FIG Primary Bond Markets
- Best Secondary Trading House for FIG Bonds
- Most Impressive House for Financial Institution Research
FIG BOND BANKER AWARDS- Most Impressive FIG Syndicate Banker
- Most Impressive FIG Origination Banker
- Rising Star FIG Bond Banker (This Award is for someone with less than 10 years’ capital markets experience)
- Most Impressive ESG Investment Banker
OTHER MARKET PARTICIPANTS- Most Influential Investor in Financial Institution Bonds
- Best Technology Platform for the FIG Primary Bond Market
- Best Rating Agency for Financial Institution Bonds
- Best Law Firm for Financial Institution Bonds
- Best Second Party Opinion Provider for FIG ESG Bonds
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CORPORATE BORROWER AWARDS
- Most Impressive Corporate Borrower
- Most Innovative Corporate Borrower
- Most Impressive Non-European Corporate Borrower in European Currencies
- Most Impressive Corporate Yankee Bond Issuer
- Most Impressive Corporate Borrower in Sterling
- Most Impressive Corporate Borrower in Swiss Francs
- Most Impressive Corporate Funding Team
- Most Impressive Corporate Hybrid Capital Issuer
- Most Impressive Corporate Issuer at Using New Bond Market Technology
- Best Corporate Issuer at Using Liability Management
- Most Impressive Debut Corporate Bond Issuer
- Most Impressive Corporate Green, Social or Sustainable Bond Issuer
- Most Impressive Sustainability-Linked Bond Issuer
- Most Impressive Corporate MTN Issuer
CORPORATE FUNDING OFFICIAL AWARDS- Most Impressive Corporate Funding Official
CORPORATE BOND INVESTMENT BANK AWARDS- Most Impressive Bank for Corporate Bonds
- Emerging Force in Corporate Bonds
- Most Impressive Bank in Using New Technology for Corporate Primary Bond Markets
- Most Impressive Corporate Bond House in Euros
- Most Impressive Corporate Bond House in Dollars
- Most Impressive Corporate Bond House in Sterling
- Most Impressive Syndicate Team for Corporate Bonds
- Most Impressive Bank for Corporate Hybrid Capital
- Most Impressive Bank for Corporate Capital Structure Advice
- Most Impressive Bank for Corporate Ratings Advice
- Most Impressive Bank for Corporate Liability Management
- Most Impressive Investment Bank for Corporate ESG Capital Markets and Advice
- Most Impressive Bank for Corporate Swaps and Other Derivatives
- Most Impressive Corporate MTN Dealer
CORPORATE BOND BANKER AWARDS- Most Impressive Corporate Bond Syndicate Banker
- Most Impressive Corporate Bond Origination Banker
- Most Impressive ESG Investment Banker
- Rising Star Corporate Bond Banker (This Award is for someone with less than 10 years’ capital markets experience)
OTHER CORPORATE BOND AWARDS- Most Influential Investor in Senior Corporate Bonds (for a firm not an individual)
- Most Influential Investor in Hybrid Corporate Bonds (for a firm not an individual)
- Best Debt Advisory Firm for Companies
- Best Second Party Opinion Provider for Corporate ESG Bonds
- Best Rating Agency for Corporate Bonds
- Best Law Firm for Corporate Bonds
- Best Technology Platform for the Corporate Primary Bond Market
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EM BORROWER AWARDS
- Overall Most Impressive Emerging Markets Issuer
- Most Impressive Issuer in Central and Eastern Europe
- Most Impressive Issuer in the Middle East
- Most Impressive Issuer in Africa
- Most Impressive ESG Bond Issuer in CEEMEA
EM FUNDING OFFICIAL AWARDS- Most Impressive Funding Official in Central and Eastern Europe
- Most Impressive Funding Official in Africa
- Most Impressive Funding Official in the Middle East
EM INVESTMENT BANK AWARDS(these Awards are for investment banks as arrangers and bookrunners of bonds, not for banks as issuers of their own bonds)- Most Impressive Bank for CEEMEA Bonds
- Most Impressive Bank for Central and Eastern European Bonds
- Most Impressive Bank for Middle Eastern Bonds
- Most Impressive Bank for African Bonds
- Most Impressive Local Bank for Middle Eastern Bonds
- Most Impressive Local Bank for African Bonds
- Most Impressive Bank for ESG Capital Markets in CEEMEA
EM BOND BANKER AWARDS- Most Impressive CEEMEA Bond Syndicate Banker
- Most Impressive CEEMEA Bond Origination Banker
- Rising Star Emerging Markets Bond Banker (This Award is for someone with less than 10 years’ capital markets experience)
OTHER MARKET PARTICIPANTS- Most Influential Investor in Emerging Market Bonds
- Best Secondary Market Trading Platform for Emerging Market Bonds
- Best Rating Agency for Emerging Market Bonds
- Best Law Firm for Emerging Market Bonds
- Best Second Party Opinion Provider for Emerging Market ESG Bonds
