NEW YORK – Citi announced that it hired five women-owned firms as lead managers of a $1.5 billion bond issuance. The deal represents Citi’s ongoing commitment to support women, minority and veteran-owned businesses to provide opportunities for them to grow and succeed.
In the transaction, which priced on March 1, Citi hired five women-owned broker-dealers to distribute the bonds to investors. The firms included C.L. King & Associates; Lebenthal & Co., LLC; MFR Securities, Inc.; Siebert Brandford Shank & Co., L.L.C.; and Telsey Advisory Group.
“Citi is proud to support women and minority-owned businesses,” said James Forese, President of Citigroup and Head of Citi’s Institutional Clients Group. “This transaction is a testament to Citi’s long-standing, deep commitment to diversity and inclusion, and it is particularly timely as we prepare to celebrate International Women’s Day on March 8.”
“This is a very exciting transaction,” said Alexandra Lebenthal, CEO of Lebenthal & Co. “There is a lot of discussion about women-owned businesses, access to capital for women and pay equality, but not a lot of action. Through this deal, Citi is planting a stake in the ground and clearly demonstrating that it is a firm that understands how important women are to this economy.”
Through the March 1 deal, Citi issued $1.5 billion in 10-year bonds. Investors responded positively to the deal, which follows a similar offering in October, when Citi worked exclusively with veteran-owned firms to syndicate a $1.5 billion bond offering.