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Corporate pioneer:
Corporate issuers surged to the fore in 2021 with a stack of debut names among the throng. For its leadership in this area and its work in threading together issuers that spanned asset classes and geographies while also using its balance sheet to help clients, JP Morgan is IFR’s Emerging EMEA Bond House of the Year.
Rescue mission
Maintaining the edge
Bank of America arranged the highest volume of Latin America bond deals in the lead-left position in 2021, continuing to showcase its expertise in deals for sovereigns, financials and liability management offerings. For maintaining its edge in the region, Bank of America is IFR’s Latin America Bond House of the Year.
Building foundations
The promise of greater efficiency – and cost savings – from the automation of debt capital markets appears to be getting closer, given the rising number of platforms or applications being marketed to syndicate desks. We’re not there yet but we might just see evidence of progress this year – at least in some parts of the new issue continuum.
The true effects of Brexit on Europe’s capital markets have yet to be felt, but they will be far-reaching as divergence accelerates in 2022 and the EU takes a tough line on cross-border arrangements.
Capital markets in the US have rallied around the fight to address environmental, social and governance issues, responding to the Biden administration’s increasing emphasis on climate change.
When India’s Masala bond market was launched in 2014, the hope was that it would become a vibrant issuance arena underpinned by deep secondary liquidity and a wide variety of foreign investors and traders. To say that the market has disappointed would be an understatement, but hope springs eternal and optimists are calling a turn.
The Tokyo Stock Exchange is restructuring in a process designed to rationalise its board structure, improve corporate governance and attract more investors to Japan. But do the changes go far enough?
