Asia
China’s big leap forward
Issuer: PetroChina Company Ltd
Deal: privatization IPO
Amount: $2.9 billion
Date: April 7 2000
Co-ordinators: Goldman Sachs, CICC
Retail without queues
Issuer: Mass Transit Railway Corporation
Deal: privatization IPO
Amount: HK$10.8 billion
Date: October 1 2000
Global co-ordinators: Goldman Sachs, HSBC, UBS Warburg
Malaysia’s inaugural euro
Issuer: Federation of Malaysia
Deal: sovereign bond Amount: e650 million
Date: November 24 2000
Bookrunners: Deutsche Bank, Barclays Capital
The $12 billion coup
Issuer: Doncaster Group (for Pacific Century CyberWorks)
Deal: syndicated loan Amount: $12 billion
Date: February 25 2000
Underwriters: Barclays Capital, Bank of China International, BNP Paribas, HSBC
Korea sells off NPLs
Issuer: Korea Asset Management Corporation (KAMCO)
Deal: asset-backed securitization
Amount: $367 million
Date: July 2000 Lead managers: Deutsche Bank, UBS Warburg
Taking on a telecom
Acquirer: Pacific Century CyberWorks
Type of deal: LBO of Hong Kong Telekom
Amount: $37 billion (later adjusted to $28 billion)
Date of announcement: February 29 2000
Advisers for PCCW: Bank of China International, CSFB, MSDW, UBS Warburg Advisers for Cable & Wireless: Merrill Lynch, Greenhill & Co Adviser to HKT: Jardine Fleming (now Chase)
Independent financial adviser to HKT board committee: ING Barings
Latin America
Crafting the road map
Issuer: Ecuador Deal: bond exchange
Amount: $4 billion
Global coordinator: Salomon Smith Barney Joint dealer-manager: JP Morgan
High point for bond market
Issuer: United Mexican States
Deal: sovereign bond
Amount: e1 billion
Joint bookrunners: Schroder Salomon Smith Barney, Credit Suisse First Boston
Petrobrás’ $4.3 billion offering
Issuer: Petrobrás
Deal: equity offering
Amount: $4.3 billion
Sole bookrunning manager: Merrill Lynch Co-lead manager: ABN Amro Rothschild Sole lead manager of Brazilian tranche: CSFB Garantia
Airport take-off in Mexico
Issuer: ASUR
Deal: IPO
Amount: 335 million Sole bookrunner: UBS Warburg
Getting the timing right
Acquirer: AntarChile
Deal: acquisition of 30.5% of Copec
Amount: $1.233 billion Adviser to AntarChile, loan arranger: JP Morgan
Central and Eastern Europe
Ukraine faces up to demons
Issuer: Government of Ukraine
Deal: multiple bond exchange
Amount: $2.7 billion
Date: March 15 2000 Lead manager: ING Baring
Europe
Lady luck smiles on Siemens
Issuer: Siemens
Deal: IPO, equity carve-out of Infineon
Amount: e6 billion
Date: March 13 2000 Global co-ordinators: Goldman Sachs, Deutsche Bank
France Telecom spreads bets
Issuer: France Telecom
Deal: e5.4 billion equivalent Eurobond: e1.4 billion FRN due 2003 (E+43), e1 billion five-year (E+67), e1.4 billion 10 year (E+90), £500 million five-year (G+140), £450 million 20-year (G+245)
Date: October 26 2000
Bookrunners: Morgan Stanley Dean Witter, Deutsche Bank, BNP Paribas, Barclays
Flexibility drives the miles
Issuer: Allianz
Deal: market index-linked equity security (miles)
Amount: e2 billion
Date: December 14 2000 Lead manager: UBS Warburg
Vodafone shocks Germany
Borrower: Vodafone AirTouch
Type of deal: Two 364-day revolving credits, three-year revolving credit
Amount: e30 billion
Date: March 2000
Bookrunners: Bank of America, Barclays, Citibank/Schroder Salomon Smith Barney, Goldman Sachs Co-arrangers: ABN Amro, Greenwich NatWest, ING Barings, National Australia Bank, Toronto-Dominion and UBS
Citi beats rivals to the Punch
Issuer: Punch Group
Deal: asset-backed securitization
Amount: £1.5 billion Date: June 2000
Bookrunner: Citi/SSSB Lead managers: Goldman Sachs and RBS Financial Markets
Who dares wins
Acquirer: Royal Bank of Scotland
Deal: acquisition of NatWest
Amount: £21 billion
Date: February 2000 Advisers to RBS: Merrill Lynch and Goldman Sachs
North America
Doughnuts fill market hole
Issuer: Krispy Kreme Doughnuts
Deal: IPO Amount: $72.5 million
Date: April 5 2000 Bookrunner: Deutsche Banc Alex Brown
Three-year plans come to Life
Issuer: Met Life
Deal: IPO
Amount: $2.735 billion (with $840 million convertible and $855 million private placement)
Date: April 4 2000 Bookrunners: Credit Suisse First Boston, Goldman Sachs
Critical mission for Ixia
Issuer: Ixia Amount: $82 million
Date: October 17 2000
Bookrunner: Merrill Lynch
Convertible makes for $5 billion party
Issuer: Tyco
Amount: $3.45 billion
Bookrunner: Merrill Lynch
Dexter’s drastic defence
Client: Dexter Corporation
Type of advice: defence of hostile bid from International Specialty Products
Advisor: Lehman Brothers
NiSource gets lucky
Acquirer: NiSource
Type of deal: hostile acquisition of Columbia Energy Group
Amount: $14.7 billion
Advisers: Credit Suisse First Boston; Wasserstein Perella; Barclays Capital (financing)
AES bucks trend through timing
Issuer: AES Corporation Amount: $850 million Date: September 8 2000 Bookrunner: Morgan Stanley Dean Witter
Salomon plays deft hand
Issuer: Mini-Trups (special purpose vehicle)
Amount: $241.7 million
Date: March 23 2000 Bookrunner: Salomon Smith Barney
Verio finally finds suitor
Acquirer: NTT
Type of deal: cash acquisition of Verio
Amount: $5 billion
Launched: 7 May 2000 Advisers: Deutsche Banc Alex Brown
Deal secured after horse trading
Companies: Seagate Technology, Veritas Software, Silver Lake Partners
Deal: synthetic spin-off and leveraged buy-out
Size: $20 billion LBO
Date: November 1999-March 2000
Kestrel flies high
Most innovative convertible
Issuer: Kestrel
Amount: $125 million
Bookrunner: Morgan Stanley Dean Witter
Bright light in the gloom
Best tech acquiror
Company: JDS Uniphase
Deal: acquisition of E-Tek; acquisition of SDL
Announced: January 19th (E-Tek); July 10th (SDL)
Size: $15.5 billion (E-Tek); $41 billion (SDL)
Advisors: Thomas Weisel Partners (for JDS in E-Tek deal); Goldman Sachs (for E-Tek); Thomas Weisel Partners (for SDL); Banc of America Securities and CIBC World Markets (for JDS in SDL deal)
Investors look for safe story
Best High Grade issue
Issuer: Conagra
Amount: $1.65 billion
Date: September 15 2000
Bookrunner: Merrill Lynch
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