For drawing on its own capital markets sophistication to help its portfolio companies issue US$60bn of debt and raise more than US$15bn of equity while also delivering solid returns for LPs and new public investors participating in its deals, Blackstone is IFR’s Americas Issuer of the Year.
Hudson’s Bay Company’s acquisition of luxury department store Saks was savvy to say the least. In what was a hotly-contested purchase, the iconic Canadian retail company padded its US$2.9bn financing package with upfront equity commitments from cornerstone investors, allowing it to push sizing while limiting pro forma combined leverage.
It was yet another blockbuster year for US dollar bond issuance as companies rushed to refinance debt, return capital and optimise capital structures. In this turbo-charged environment, Goldman Sachs led most of the year’s largest underwritings and snatched market share from its rivals, making it IFR’s US Dollar Bond House of the Year.
- US Debt House: Bank of America Merrill Lynch
- US High-Yield Bond House: Bank of America Merrill Lynch
- US High-Yield Bond: Neiman Marcus’s US$600m PIK toggle bond
- High-Yield Bond House: Deutsche Bank
- North America High-Yield Bond House: Bank of America Merrill Lynch
- North America High-Yield Bond: Neiman Marcus’s US$600m PIK toggle bond
- US HY BONDS WRAP: Issuers power on with another six deals