Dollar High Grade Financial - Winner: Bank of America

Bookrunner: Bank of America

The best ideas are often the most simple, and that was the case with Bank of America's $6 billion domestic tier 1 security transaction on January 24 which - it could be argued - has transformed the institutional preferred market.

With many financial institutions looking to recapitalise following the subprime fallout and CDO writedowns there was a wave of capital-raising in the fourth quarter of 2007. Joining them was Bank of America which, as a result of its acquisition