One bank has dominated the debt capital markets this year. And while much of that dominance is thanks to its achievements in its US home market, it has proven its credentials across the globe. That bank is Citigroup, which is IFR’s Bond House, US Bond House, North America Financial Bond House and Latin America Bond House of the Year.
Coming back to the market after several years away was always going to be tricky – even for one of the world’s largest integrated electricity and gas operators.
The bank capital issuance space was crowded again in 2017 but Bank of Nova Scotia’s Additional Tier 1 bond stood out for its unique structure, which opened up a path towards offshore US dollar-denominated AT1s for Canadian financial institutions.