FinanceAsia was in no doubt about the winner of our Deal of the Year award in 2001. And indeed, OCBC's $2.9 billion acquisition of Keppel Capital in July of that year gave us plenty of reasons to get excited.
First, there was the triple-currency bond financing of the deal second, the clever and intricate manoeuvring to complete the transaction, planned with the thoroughness of a military invasion according to the write-up announcing the award and third, there was the prospect that the acquisition would be the catalyst for an exciting period of consolidation in the Singapore banking sector.
The bond issues amounted to the biggest subordinated deal in Asia up to then,...
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