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| Global Awards | |
| High grade | High-yield |
| Equity | M&A |
| Structured credit | Restructuring |
| Regional Awards | |
| Asia | Latin America |
| CEE | Middle East |
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The £3.9 billion ($6.4 billion) RMBS trade launched by Lloyds Banking Group in September was the standout deal of the year in the structured finance market, not just for what it was but also for what it represented. The European securitization market vanished virtually overnight in mid-2007 along with the first signs of trouble in the asset-backed commercial paper market. HBOS made an attempt to open the market in May 2008 with a single-tranche £500 million deal but the market subsequently remained closed until Lloyds decided to test the water with this transaction.