NatWest has been named “Best GBP Bookrunner/Dealer” and “Most Improved Money Market Dealer” in the 2021 CMDportal Awards. The market data network, which aggregates, validates and reconciles bond and money market data, bases its annual awards on market polls, in-depth-questionnaires and other market data.
The “Best GBP Bookrunner/Dealer” award is given “to an institution that is active in the GBP denominated international and local bond market and is the best at providing a full service to all types of borrowers and investors”. In their awards announcement, CMDportal acknowledged NatWest’s leading role in the GBP bond market in 2021, praising our frontline position in the booming Sterling ESG market, advising issuers in developing sustainable financing strategies and assisting them in tapping this fast-growing pool of liquidity. CMDportal also highlighted NatWest’s leadership in LIBOR-SONIA consent solicitations for secured and unsecured bonds, whilst at the same time pushing duration for foreign issuers in Sterling.
Market participants complimented NatWest for pushing duration with the UK DMO’s July 2051 Gilt, July 2053 Green Gilt and March 2073 Index-linked Gilt, as well as Canada’s CPP Investments’, guaranteed by Canada Pension Plan Investment Board, GBP900m 50-year, the longest-dated syndicated transaction currently outstanding in GBP. NatWest was also commended for its work to introduce and extend ESG issuances in the UK housing associations market.
Furthermore, NatWest also took home the “Most Improved Money Market Dealer” award, which is “given to an institution that has most improved in the local and or foreign segment of the CP and CD Money Markets, providing a full service to all types of issuers and investors.”
Based on interviews and market feedback, CMDportal praised NatWest for their increase in deal flow - in the past 12 months, NatWest completed substantially more money market deals than in the previous year - and diversity of offering as well as premium service and the ability to trade large tickets. Market participants who were included in the poll also acknowledged NatWest’s strong performance in SONIA issuance and our particular strength – and growing market share – in serving SSAs.
Commenting on the “Best GBP Bookrunner/Dealer” award, Christopher Agathangelou, Head of Flow Syndicate and Interim Head of FI & SSA DCM at NatWest, said: ”We’re absolutely thrilled that CMDportal has recognised our leadership in Sterling overall, but in particular in ESG issuances, as well as our commitment to help advance the sustainable finance market so our customer can benefit from a wider range of sustainability labelled debt.”
Whilst, commenting on the “Most Improved Money Market Dealer” award, Marc Falconer, Head of MTN Syndicate at NatWest, said: “Winning the ‘Most Improved Money Market Dealer’ award is a fantastic achievement. We’re very pleased that our growth strategy is already bearing fruit, and we couldn’t be happier to be recognised for our ambition to further develop our offering to deliver for our customers.”