Who are the world's best liability managers? In Euromoney's annual awards for major categories of borrower, overall winner is Sweden's National Debt Office. we examine the skills of the most advanced sovereign borrowers: with no handy measure for return on assets or equity, how do they gauge their performance? The world's most enigmatic borrower, China. At our round table, five major debt-handlers bite back, telling us what they like and dislike about the banks that serve them. We suggest how investors and issuers might map for themselves the pricing of each new issue and how it should trade after launching. But first, how do deals get done? We follow two, reliving the thrills, frustrations and comic moments as the candidates are brought to market.
Diary of two deals - The world's best borrowers -
The jugglers of sovereign debt - China - borrowing from the state - Round table: The borrowers talk back - Can you get finer price discovery?
A lesson in never giving up