2000 Achievement Awards Deal of the Year/Best Syndicated Loan

Pacific Century Cyberworks, $12 billion syndicated loan

Bank of China International Capital, Barclays Capital, BNP Paribas, HSBC

There could be no other candidate to win loan of the year, or indeed deal of the year, since Asia has never seen a transaction such as this one before. At more than twice the size of the previous record holder, the $12 billion facility changed the face of Asia's syndicated loan market forever and opened the door for leveraged financing across the broader spectrum of the region's capital markets. That the company behind it was only 10 months old an internet start-up, with absolutely no credit history, little cash flow and its initial growth fuelled almost entirely by a stock market frenzy in...

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