Lead manager of the year – green bonds, SSA, and US muni: Bank of America Merrill Lynch

Channels: Green Bonds

Companies: BAML, TCorp, Fannie Mae, Asian Development Bank, International Bank for Reconstruction and Development

People: Natalie Mordi-Hillaert

Natalie Mordi-Hillaert, ESG debt capital markets division , BAMLBank of America Merrill Lynch (BAML) was involved in a number of large transactions that helped it claim lead manager of the year for supranational, sub-sovereign and agency (SSA) issuers.

The biggest of these were the New South Wales Treasury Corporation's (TCorp, AUD1.8 billion/$1.3 billion) November transaction – the largest ever by an Australian issuer – and US government-sponsored enterprise Fannie Mae's two-tranche, $905 million deal in February.

Other notable issues led by BAML included two each by the Philippines-based Asian Development Bank ($750 million, September; €600 million, July), and the International Bank for Reconstruction and Development (€600 million and $600 million, both in November).

BAML also picked up the award for best lead manager for US muni bonds, thanks to its role leading issues across the country – even as far as Hawaii.

These included:

  • California Infrastructure and Economic Development Bank's fourth green bond, to finance water and wastewater projects ($450 million, February);
  • New York State Housing Finance Agency's deal, to finance mortgage loans for the construction or acquisition and rehabilitation of multi-family housing projects ($188 million, December);
  • City of Honolulu's third green deal, and its largest to date, to finance water projects ($190 million, August);
  • Indiana Finance Authority's seventh green bond, to finance water projects ($153 million, October);
  • State of Michigan's second green transaction, to finance energy efficiency and water projects ($149 million, August).

One judge called BAML "an industry leader... [it is] well ahead of the pack".

Natalie Mordi-Hillaert from BAML's ESG debt capital markets division said: "Since 2013, when BAML co-authored A Framework for Green Bonds, the blueprint for the [International Capital Market Association's] Green Bond Principles, BAML has been a market-leader in shaping the green bond market.

"The bank remains committed to financing the transition to a low-carbon economy in its domestic market as well as abroad."