Citigroup Issues $2.5 Billion Affordable Housing Bond

By Dave Sebastian

Citigroup Inc. said it has issued a $2.5 billion social bond focused on affordable housing, with proceeds going to finance development and preservation of properties for low- and moderate-income populations in the U.S.

The bank said it reported $6 billion in lending for affordable rental housing projects.

Citigroup said it worked exclusively with women, veteran and minority-owned broker-dealers for the transaction, including active bookrunners Blaylock Van LLC; CastleOak Securities LP; Loop Capital Markets LLC and Samuel A. Ramirez & Co. Inc.

Academy Securities Inc., Great Pacific Securities, MFR Securities Inc., Roberts & Ryan Investments Inc. and Siebert Williams Shank & Co. LLC served as co-managers for the transaction.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 30, 2020 08:55 ET (12:55 GMT)

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