Citi Hires Women-Owned Firms to Lead Distribution of $250 Million Citigroup Inc. Subordinated Bond Issuance
March 20 2018 - 3:13PM
Business Wire
Citi today announced that it hired women-owned firms as lead
managers of a $250 million bond issuance on behalf of Citigroup
Inc.
The transaction represents the third consecutive year that Citi
has worked predominantly with women-owned firms to syndicate a bond
offering, highlighting its deep, long-standing commitment to
diversity and inclusion, and to helping women, minority and
veteran-owned businesses grow and succeed.
In the deal, which priced on March 12, Citi hired nine
women-owned broker-dealers to assist in the distribution of the
bonds to investors. The firms included C.L. King & Associates;
Capital Institutional Services, Inc.; CV Brokerage, Inc.; MFR
Securities, Inc.; R. Seelaus & Co., Inc.; Siebert
Cisneros Shank & Co., L.L.C.; Stern Brothers; Telsey Advisory
Group LLC; and Tigress Financial Partners LLC.
“Citi is pleased to leverage a diverse broker-dealer network for
another successful transaction,” said Michael Verdeschi, Treasurer
of Citi. “By choosing to consistently work with a diverse group of
suppliers for debt offerings, Citi is clearly taking a leadership
role in promoting diversity in the industry.”
Through the March 12 deal, Citigroup Inc. priced a $250 million
reopening issue of previously issued Citi 30-year subordinated
4.750% bonds, bringing the total amount outstanding to $2 billion.
Investors responded positively to the deal, which follows similar
offerings in 2016 and 2017; Citi issued a $2.5 billion bond
offering in March of 2017 and a $1.5 billion bond offering in March
of 2016. In both transactions, Citi worked with women-owned firms
to syndicate the bonds.
"MFR Securities is pleased to participate in this transaction
with Citi and these outstanding firms," said Maria Fiorini Ramirez,
Owner of MFR Securities, Inc. "It is particularly meaningful to be
part of a syndicate composed of predominantly women-owned
businesses, and we appreciate Citi's efforts to highlight the
importance of diversity through its business activities."
“We are proud to continue our work with these firms, which once
again provided exceptional support and execution for the issuance,”
said Tyler Dickson, Head of Global Capital Markets Origination at
Citi. “Diversity represents a core value for Citi, and this
transaction provides a great example of our deep commitment to
inclusion in everything that we do.”
Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20180320006449/en/
Media:CitiRobert Julavits,
212-816-8020robert.w.julavits@citi.com
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