Borrowers: Keeping investors buying

June 01, 1999

The last 12 months have not been kind to borrowers. A succession of blows to investor confidence have caused huge swings in sentiment. We started the period with the flight to quality, superliquidity and an avoidance of all things emerging market. We have ended it with a clamour fro credit product, a flight from quality and a surge in emerging market issues. These are the borrowers who best rode the storm.

Best Borrower, Best Corporate Borrower, Best US Borrower: AT&T

Best Public Bank Borrower: Jexim

Best Private Bank Borrower: Abbey National

Best Agency Borrower: Fannie Mae

Best Municipal Borrower: Saxony-Anhalt

Best Asian Corporate: Hutchison Whampoa

Best Asian Sovereign: Korea Development Bank

Best Central and Eastern European Sovereign Borrower: Hungary

Best Central and Eastern European Corporate Borrower: TPSA

Best Nordic Borrower: Finland

Best Latin Corporate: Pemex

Best African and Middle East Borrower: Lebanon

Best Canadian Borrower: Canada

Best German Borrower: Deutsche Ausgleichsbank

Best French Borrower: RFF

Best MTN Borrower: SEK

Best Spanish Borrower: Argentaria

Best British Borrower: British American Tobacco

Best Dutch Borrower: BNG

Best Australian Borrower: Westpac

Best Japanese Borrower: NTT

Best Italian Borrower, Best Borrower in Syndicated Loans: Olivetti

Best User of Asset-Backed Securities: Citibank

Best Commercial Paper Borrower: Kreditanstalt fur Wiederaufbau

Best User of Structured Bonds: Cades

Best High-Yield Borrower: Telewest

Best Pfandbrief Borrower: DePfa

Best User of Foreign Markets: YPF

Most Responsive Borrower: GECC