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Bubbling up
The credit market faced a host of challenges in 2023, meaning issuers required fresh approaches to meet their funding needs. For its broad reach and deep insight to help clients develop new asset classes and bring back old programmes, Bank of America is IFR’s North America Structured Finance House of the Year.
Securitising sunshine
Sunnova breathed new life into renewable energy financing with a US$244m securitisation backed by US government-guaranteed loans, helping to make home solar systems more affordable and boosting a project aimed at reducing fossil-fuel power generation.
High five
The first bond backed by a pool of five-year fixed-rate commercial mortgages opened a new door for issuers in 2023 in a sector confronting high interest rates and rising delinquencies.
Fully equipped
Against a tough backdrop of central bank rate rises, the withdrawal of their extraordinary market support and a banking crisis that helped bring Credit Suisse to the brink, securitisation issuers in 2023 found themselves groping for every possible tool to achieve their goals. For its outstanding skill handling the entire toolbox, BNP Paribas is IFR’s EMEA Structured Finance House of the Year.
No green label, no problem
Toyota Motor has long been a trailblazer in the sustainable capital markets, having issued the world’s first green auto securitisation through its US captive finance arm Toyota Motor Credit Corp in 2014. It was a rare instance of the US being ahead of Europe in establishing a new green asset class.
Building the future
Hong Kong Mortgage Corp’s debut project finance collateralised loan trade in May was strategic not only for the issuer, but also for Hong Kong.
Former ECM banker and self-described origination junkie Craig Coben looks back on the good times, bemoans the present and manages – just about – to be hopeful about the future.
After nearly 40 years in DCM, Chris Tuffey recalls the highs and lows and examines how things have changed. The thrill of the deal is still there, but perhaps not quite what it was.
Rupak Ghose looks back on a banking career in which it felt like everything changed, but some things remained the same.
PR veteran (and former IFR man) Jezz Farr explains what the awards process looks like for the unfortunate souls trying to line up all the egomaniacs involved (and that’s not just the bankers).
PRC institutions take lion's share of Asian investment banking fees, and are steadily expanding into overseas markets.
