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Toughing it out
Few sovereign issuers faced the challenges Turkey did in 2022. The funding team not only had to navigate volatile global markets, but also had to contend with worsening domestic economic and financial indicators weighing on investor sentiment. It did so with great skill, reaching its external funding target with a series of deals at the most opportune moments. Turkey is IFR’s SSAR Issuer of the Year.
Taking the right steps
In a uniquely challenging year, the qualities of one of the financial sector’s most well-regarded issuers came to the fore. For the urgent yet controlled execution of its issuance, for its blend of ingenuity and attention to detail and for its sector-leading read of the markets, Rabobank is IFR’s Financial Issuer of the Year.
Where the chips fly
In a year when many Chinese private sector companies found it hard to raise international funding, Lenovo Group came to market with successful transactions in three different asset classes, making it IFR's Corporate Issuer of the Year.
Vanguard sovereign
Austria made up for its late entrance to the sovereign green bond market by emerging as an ESG financing pioneer in 2022. Deploying a notably broader and more innovative green product menu than its peers, with further breakthroughs set for 2023 and beyond, it is IFR’s Sustainable Issuer of the Year.
A huge relief
No event had a more material impact on the world in 2022 than Russia’s invasion of Ukraine. While the economic ramifications are still being felt in all corners of the globe, clearly the pain was most evident in Ukraine. But the country found some respite from the financial devastation through a crucial debt relief solution. It is IFR’s Financing Package and EMEA Restructuring of the Year.
Trophy asset
The takeover of a prized sports asset was complicated by sanctions on its Russian owner, an extremely tight deadline and intense scrutiny from the UK government, media and fans. For making it through these unique circumstances, the acquisition of Chelsea Football Club is IFR’s inaugural M&A Deal of the Year.
The Middle East was one of the few bright spots globally in equity capital markets in 2022, with IPOs regularly flooded with billions of dollars of demand. Bankers believe that not only is issuance sustainable, but the diversity of sectors, types of deals and even geographic location of companies tapping the market will expand, ensuring the region is a significant part of future ECM activity.
The UK’s LDI crisis was one of the most shocking events in the financial markets in 2022. What went wrong and what happens now?
So-called perfect storms are becoming more frequent in the financial world. The UK will need to tread carefully to avoid being caught in another one.
Buffeted by Covid-19 and caught in the crosshairs of Sino-US tensions and an authoritarian Chinese regime, Hong Kong’s ability to adapt is under sharp focus as it seeks to remain relevant as a global financial centre.
As Japan makes the crucial move to net-zero carbon emissions and other environmental targets, it is relying on transition finance as the mechanism to get there.
