Goldman Sachs 2000 Annual Report Download - page 19

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17
Please go to www.gs.com for complete profiles
of these client accomplishments.
Infineon Technologies AG
Dr. Ulrich Schumacher,
President and Chief Executive Officer
“The Goldman Sachs team proved to be a real catalyst in
enabling us to create our business model and operating
strategy. The quality of this professional team is very
high and they brought a very profound understanding of
Infineon to our discussions. When we asked questions,
we got very precise answers. This precision engendered
enormous trust.”
• Goldman Sachs was financial advisor to Infineon
Technologies AG on its approximately €6.1 billion initial
public offering, the largest corporate IPO in Germany and
the largest European high-tech offering ever.
AES Corporation
Joseph Brandt
“We felt that Goldman Sachs was one of the very few investment
banks that could successfully execute AES Drax’s £1.3 billion
financial optimization plan. The unprecedented complexity of
this transaction required a very aggressive team that could
think way outside of the box. Also, given the turbulence and
volatility of electricity markets in the U.K., the Goldman Sachs
franchise was essential in getting investors’ attention. This
was a very unforgiving deal to structure and execute. Nothing
short of excellence would enable this deal to be done.”
• Goldman Sachs was co-global financing coordinator of the
£1.3 billion financial optimization plan involving one of the
largest single-asset power generation financings and one
of the largest dual-currency project financings ever.
Federative Republic of Brazil
With a $5.2 billion Brady bond exchange executed entirely over Goldman Sachs’
proprietary exchange system on the Internet, the largest-ever such exchange,
Goldman Sachs helped the Federative Republic of Brazil optimize its debt
structure to issue the first long-term callable emerging markets bond and the
first 40-year bond.
Goldman Sachs Research Select FundSM
The firm has focused its product development efforts on leveraging Goldman
Sachs’ resources and capabilities to create unique, innovative solutions to
meet investors’ needs.
PGGM
Marjolein Sol,
Director Fixed Income and Treasury
“The Goldman Sachs Commodity Index (GSCI), which is our benchmark for
investing in commodities, met our criteria. It has provided us with an excellent
benchmark for allocating a significant percentage of our pension fund, PGGM,
to commodities.”
Deutsche Telekom AG
In the recent past, with Goldman Sachs working as its primary
financial advisor, Deutsche Telekom has pursued an aggressive
growth strategy through acquisitions and the purchase of
broadband licenses. Given this background, Deutsche
Telekom recognized the need for a large multicurrency debt
offering that would include the U.S., the world’s deepest and
most liquid market. Working with Deutsche Telekom’s legal
staff in preparation for the offering, the Goldman Sachs team
coordinated the establishment of the complex framework
required to issue registered securities to retail and institu-
tional investors in the U.S. At the same time, our investment
banking, research, debt capital markets and sales divisions
worked together to prepare and market the offering.
• Goldman Sachs was global coordinator and joint bookrunner
for Deutsche Telekom’s $14.6 billion multicurrency, multi-
tranche global debt offering, the largest corporate bond
issue ever in international capital markets.
PetroChina Company Limited
Over a 13-month period, the Goldman Sachs team worked
closely with Chinese oil industry executives and government
officials to convert PetroChina from a state-owned, production-
focused organization, operating as over 50 independent
subsidiaries, into a centralized market-oriented, return-based
company. Goldman Sachs was engaged in every aspect of
the transformation: advising PetroChina on the separation of
non-core assets and the institution of performance-linked
stock option and management incentive plans.
• Goldman Sachs served as financial advisor to PetroChina
on the first comprehensive restructuring of a large-scale,
state-owned enterprise in China.