NEW YORK--(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, 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.
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