Back to main menu
Search
Search
Overlay

Outlining their reasons to issue us this prestigious award, the industry publication said: “The UK bond market was beset by a series of challenges in 2023 which created a less than stable backdrop for issuance. For those on the outside, this represented a labyrinth seemingly impossible to navigate. But for those with the relevant expertise and experience, it was an opportunity to shine. NatWest is IFR’s Sterling Bond House of the Year.”

The IFR editors also highlighted that “despite high inflation, rates volatility and relatively weak economic growth prospects, NatWest continued its success throughout the year, leading the first Gilt syndication, three of the first four corporate deals and reopening trades for financial institutions both domestic and foreign following the collapse of Silicon Valley Bank and Credit Suisse,” resulting in “hardly a week passing without a NatWest-led deal emerging.”

IFR impressed by NatWest’s role attracting inaugural corporate Sterling issuances

Looking at corporate Sterling Bonds, IFR noted NatWest’s “instrumental role in reopening the hybrid sector after a two-year hiatus with a sole structuring role on Vattenfall’s £250 million 60.25-year green deal and Vodafone’s £500 million 63.25-year transaction,” while also praising our support for several inaugural Sterling Bond transactions.

The editorial team further emphasised that in the utility sector - that accounted for a large amount of the supply - NatWest was behind 16 deals for customers in the gas, electricity, and the UK water sector.

Praise for NatWest’s “prowess” in the FI market

Considering NatWest’s performance in the Financial Institutions space, IFR praised our “prowess” in our home market, particularly when it came to the challenger banks. 

The sector endured what our head of FI syndicate Jacob Gilbert described as “a challenging year” as rates rose, but we were active on virtually every transaction; from covered bonds, through senior preferred and non-preferred (green and non-green) bonds to subordinated paper. As would be expected, the issuer roster included domestic players, but also from across Europe and as far afield as Canada and Australia.

NatWest emerging as the winner of the prestigious award was also helped by our transactions for public sector issuers in 2023.

The time to show your strength is when markets are tough

Alexandra Miani, NatWest’s Head of Western European Corporate, commented: “We’re thrilled and couldn’t be prouder to have won this coveted award, with IFR recognising our mentality to strive to be the best and lead the market. The time to show your strength is when markets are tough, and that is what we were able to do in 2023.”

 

Jamie Stuart, NatWest’s Head of UK Corporate DCM: "We are excited to see that our One Bank approach, which enables close collaboration between various teams involved in our Sterling transactions, is helping us deliver the best outcomes for our customers. We leverage a deep understanding of our home market to identify emerging trends and advise customers on the best way to efficiently access GBP liquidity.” 

 

Kerr Finlayson, NatWest’s Head of Frequent Borrowers Group Syndicate, added: “Winning IFR’s Sterling Bond House of the Year’ is a fantastic achievement. We are incredibly proud of our Sterling franchise and would like to thank all the issuers we have supported over the past 12 months.”

This article has been prepared for information purposes only, does not constitute an analysis of all potentially material issues and is subject to change at any time without prior notice. NatWest Markets does not undertake to update you of such changes.  It is indicative only and is not binding. Other than as indicated, this article has been prepared on the basis of publicly available information believed to be reliable but no representation, warranty, undertaking or assurance of any kind, express or implied, is made as to the adequacy, accuracy, completeness or reasonableness of the information contained in this article, nor does NatWest Markets accept any obligation to any recipient to update or correct any information contained herein. Views expressed herein are not intended to be and should not be viewed as advice or as a personal recommendation. The views expressed herein may not be objective or independent of the interests of the authors or other NatWest Markets trading desks, who may be active participants in the markets, investments or strategies referred to in this article. NatWest Markets will not act and has not acted as your legal, tax, regulatory, accounting or investment adviser; nor does NatWest Markets owe any fiduciary duties to you in connection with this, and/or any related transaction and no reliance may be placed on NatWest Markets for investment advice or recommendations of any sort. You should make your own independent evaluation of the relevance and adequacy of the information contained in this article and any issues that are of concern to you.

This article does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell any investment, nor does it constitute an offer to provide any products or services that are capable of acceptance to form a contract. NatWest Markets and each of its respective affiliates accepts no liability whatsoever for any direct, indirect or consequential losses (in contract, tort or otherwise) arising from the use of this material or reliance on the information contained herein. However this shall not restrict, exclude or limit any duty or liability to any person under any applicable laws or regulations of any jurisdiction which may not be lawfully disclaimed.

NatWest Markets Plc. Incorporated and registered in Scotland No. 90312 with limited liability. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. NatWest Markets N.V. is incorporated with limited liability in The Netherlands, authorised and supervised by De Nederlandsche Bank, the European Central Bank and the Autoriteit Financiële Markten. It has its seat at Amsterdam, The Netherlands, and is registered in the Commercial Register under number 33002587. Registered Office: Claude Debussylaan 94, Amsterdam, The Netherlands. NatWest Markets Plc is, in certain jurisdictions, an authorised agent of NatWest Markets N.V. and NatWest Markets N.V. is, in certain jurisdictions, an authorised agent of NatWest Markets Plc. NatWest Markets Securities Japan Limited [Kanto Financial Bureau (Kin-sho) No. 202] is authorised and regulated by the Japan Financial Services Agency. Securities business in the United States is conducted through NatWest Markets Securities Inc., a FINRA registered broker-dealer (http://www.finra.org), a SIPC member (www.sipc.org) and a wholly owned indirect subsidiary of NatWest Markets Plc.

Copyright © NatWest Markets Plc. All rights reserved.

More Markets articles

All Markets articles
scroll to top