Citi Hires Veteran-Owned Firms Exclusively to Distribute Recent $3.0 Billion Bond Issuance
May 23 2019 - 10:05AM
Business Wire
Citi today announced that it worked exclusively with
veteran-owned firms to syndicate a $3.0 billion bond issuance,
underscoring Citi’s long-standing commitment to providing
opportunities to the veterans’ community.
“Citi is proud to once again support our nation’s veterans and
continue partnering with diverse syndicate groups for our bond
offerings,” said Michael Verdeschi, Treasurer of Citi. “While we
consistently utilize diverse syndicate groups, we especially wanted
to highlight the contributions of veteran-owned firms ahead of the
Memorial Day holiday. Investors responded positively to this deal
and the successful execution of this transaction illustrates the
contributions veteran-owned businesses make to the broader capital
markets.”
For this transaction, Citi issued 3-year non-call 2-year senior
fixed-to-floating and floating-rate notes indexed to LIBOR. The
bonds priced on May 15 and Citi hired eight veteran-owned firms to
distribute the bonds to investors. The firms included Academy
Securities, Inc.; American Veterans Group, PBC; AmeriVet Securities
Inc.; Bancroft Capital, LLC; Drexel Hamilton, LLC; Mischler
Financial Group, Inc.; Multi-Bank Securities, Inc.; and Roberts
& Ryan Investments Inc.
“Our nation’s military veterans contribute greatly to the
freedoms we enjoy in this country, and we want to support their
participation in the economic opportunities they help make
possible. As one of the founding members of Veterans on Wall
Street, Citi’s commitment to facilitate career and business
opportunities for our nation’s military personnel is well
established, and we’re proud to work with veteran-owned firms on
this important bond issuance,” said Ed Skyler, Citi’s Head of
Global Public Affairs and Co-Lead of Citi Salutes. “Through our
firm’s Citi Salutes initiative, we strive to hire, promote and
retain more veterans, support veterans in the community, and drive
economic opportunity for veterans through education and financial
inclusion.”
This bond follows a similar offering distributed by
veteran-owned firms in October 2015 in which Citi partnered with
five veteran-owned firms to distribute a $1.5 billion bond
issuance
“Academy is grateful for the opportunity to be part of this
transaction and is honored that the Citi team supports our social
mission to mentor, hire, and train military veterans,” said Chance
Mims, Chairman and CEO of Academy Securities. “Citi helps raise the
bar for our nation’s companies who are answering the call to
provide opportunities to our returning service members.”
Since the beginning of the year, Citi has worked with 29
different firms owned by veterans, women or underrepresented
minorities totaling over $3 million in fees across $13 billion in
bond issuance.
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/20190523005141/en/
Sophia AnthonyCiti Global Public AffairsBanking, Capital Markets
& Advisory Communications+1 (212)
816-7140sophia.anthony@citi.com
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