League tables tell only half the story
Funding officials at the largest 250 issuers on the global debt capital markets were asked to rate their top three preferred banks in three categories: services to clients, major currency sectors, and by product type.
By limiting the polling to this group, Euromoney has sought to gather the opinions of issuers that, through their volume of issuance, are covered by a large group of banks. They issue frequently, and are best placed to judge the relevant merits of different lead managers.
The scores were weighted as follows: four points were awarded for the first choice in each category, three points for the second place and two points for third place.
When all votes had been submitted, respondents were divided into quartiles based on their amount of issuance over the past two years. The scores of the largest issuers by volume were multiplied by four; the next quartile by three, the next by two, and the quartile with the least volume were counted as they voted. By this method, more weight was given to borrowers that issue most frequently.
Polling was carried out online from Monday, March 20 to Friday April 21 2006.
Euromoney received 102 responses to the poll. The voter sample represents a total $4.14 trillion of debt issued from January 1, 2004 to April 1, 2006, according to Dealogic.