Best Euromoney CEE bank for 2021 financing: JPMorgan
In a record year for the issuance of Eurobonds, JP Morgan has once again demonstrated the unmatched breadth and depth of its franchise in the debt capital markets of Central and Eastern Europe.
Under the leadership of chief executive Jamie Dimon, the American house easily topped the DCM rankings for the region during the awards period, racking up 60 deals with a split value of € 14.4 billion, according to Dealogic, well before the 12 billion euros of Citi 42 deals.
A significant portion of the volume came from sovereign borrowers, as policymakers rushed to fund Covid support programs. JPMorgan was well positioned to capitalize on this trend, acting for 13 governments in the region, often on multiple deals. These included regular borrowers, such as Hungary and Turkey, as well as border names like Albania, Armenia, and Uzbekistan.
Bank capital transactions were sparse – although JPMorgan acted on behalf of Turkish firm Yapi Kredi on its level 2 market opening dollar in January – while other sector mandates included an initial issue for the Ipoteka bank of Uzbekistan, the first euro of the Moscow Credit Bank. denominated and the first fully marketed Czech covered bond from Société Générale’s subsidiary, Komercni Banka.