Polling a market in transition
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Polling a market in transition

Which firms do borrowers think of first when they want to raise money? That is always a key question for investment and commercial banks and it takes on particular relevance now. The capital markets are being transformed. A whole new group of borrowers is launching debut bond issues. Our poll shows which banks they rate best. Commentary by Michael Peterson; research by Rebecca Cicolecchia.

Capital raising: Borrowers vote - Results Index Page

Capital raising: Bond Peers' vote - Results Index Page

Capital raising: Equity Peers' vote - Results Index Page

Capital raising: Loan Peers' vote - Results Index Page

Liability Management: Borrowers' vote - Results Index Page

Liability Management: Derivatives Peers' vote - Results Index Page

Methodology


The introduction of Europe's single currency in January was the catalyst for a transformation. With investors in much of Europe now free to hold assets from any part of the eurozone without currency risk, borrowers are rushing to position themselves in this big new market. And this is happening just as banks are cutting lending capacity, forcing companies and municipal borrowers to find new sources of funding.

Our annual poll of borrowers and intermediaries provides the clues as to which firms are adjusting best to the new market. We asked those responsible for raising finance at 182 organizations which firms they rated most highly in over 60 categories of financial products, not only bonds but also syndicated loans, international equities and risk management. Some 56% of those who responded to the poll were in western Europe, most of them in the countries of the eurozone.


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