Goldman Sachs 2003 Annual Report Download - page 14

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WE HELP COMPANIES FIND CAPITAL TO GROW THEIR IDEAS.
Fueling business growth and nurturing high-potential ideas require capital. Goldman Sachs’ clients rely
on the firm’s expertise to access capital from a range of sources and in a variety of market conditions.
The solutions we bring to bear are diverse. We help clients tap the equity and debt capital markets,
restructure balance sheets, manage assets and liabilities, and assess strategic options for mergers and
acquisitions, divestitures, corporate defense activities and spin-offs. In each instance, Goldman Sachs
draws upon its deep resources to help our clients achieve their objectives.
Businesses, large and small, are at the heart of the modern market system. They create jobs and profits,
setting the stage for larger prosperity. In serving our clients’ interests, we contribute to greater economic
well-being.
SEARS, ROEBUCK AND CO.
Goldman Sachs helped Sears divest its credit
and financial products business, creating
significant shareholder value and substantially
improving Sears’ credit profile.
Serving as Sears’ exclusive financial advisor,
Goldman Sachs’ Investment Banking and Fixed
Income professionals worked together to secure
a strong buyer for the business. To support
Sears during the sales process, the Goldman
Sachs team arranged a $2 billion secured credit
facility as interim funding.
Goldman Sachs has been advising Sears for
over a century, including helping to manage the
company’s IPO in 1906.
“Goldman Sachs has helped create some extraordinary global companies— but
our role is only that of an advisor; the companies themselves have the true vision. We pride
ourselves on having given the strategic advice that helped them achieve their goals.”
rajiv ghatalia, investment banking, hong kong