Caffil's performance within the covered bond market over the past 12 months has been outstanding. While remaining a leading issuer at the longer end of the curve, Caffil has also demonstrated its ability to navigate extremely challenging market conditions. Despite investor demand contracting significantly towards the end of the year, Caffil nevertheless came to market and expertly executed a EUR1bn offer. This strong performance in covered bond markets, in spite of market conditions, is made possible by its exceptional investor outreach efforts and robust investor relations policy. These factors, combined with market feedback from interviews and polls make Caffil a deserving winner of the Best Covered Bond Issuer and Best Covered Bond Investor Relations Team Awards. These achievements are without a doubt the product of the hard work, dedication and expertise of each individual team member. Read the full award reasoning here.