Astute Selling, Smarter Buying – The Equity Linked Award

2008 was an unexciting year for any equity linked offerings of any sorts, let alone shipping and offshore convertible bonds. The dearth of activities in this category reflects the many challenges that our winner had to overcome in order to close this transaction that stood out in terms of value creation for the client. Among the nominees considered, this year’s award goes to Goldman Sachs as the sole bookrunner of Pacific Basin’s USD 390 million 3.3% Guaranteed Convertible Bonds due in 2013.

In late December of 2007 when the financial debacle had began to unfold from a housing crisis to a credit crunch, Pacific Basin took the challenge and launched its convertible offering – the largest by an Asian shipping company ever and the second largest convertible offering by

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