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For Immediate Release Citigroup Inc. (NYSE: C)

Citi Hires Hispanic-Owned Firms Exclusively to Co-Lead Manage $750 Million Bond Issuance

October 03, 2023

NEW YORK – Citi today announced that it worked exclusively with Hispanic-owned firms to syndicate a $750 million bond issuance in honor of National Hispanic Heritage Month.

Citibank, N.A. issued $750 million of Floating Rate Notes due 2025, which settled on September 29, using six Hispanic-owned firms in the underwriting syndicate. The six firms included Apto Partners LLC, Cabrera Capital Markets LLC, Great Pacific Securities, Guzman & Company, Penserra Securities LLC, and Samuel A. Ramirez & Company, Inc.

“We are proud of the successful execution of this transaction. Partnering with traditionally underrepresented firms on our bond offerings provides benefits to both Citi and these firms and helps us fulfill our collective mission to enable economic growth and progress,” said Michael Verdeschi, Treasurer of Citi.

"We’re honored that Citi has appointed us to a senior role in its bond issue in recognition of National Hispanic Heritage Month, along with other Hispanic-owned underwriters," Sam Ramirez Jr., Senior Managing Director of Ramirez & Co., said. "Citi has long been a reliable partner to minority, veteran and women-owned broker-dealers. We applaud Citi for taking this extra step in highlighting its support for the Hispanic community.”

“Citigroup continues to create real opportunities for diverse firms to have meaningful participation in their debt offerings. As we celebrate Hispanic Heritage Month, our team at Penserra is grateful for the opportunity given to us and other Hispanic-owned firms to act as a Senior Co-Manager on Citibank’s $750 million 2-year bank note floater. We are encouraged by Citi’s commitment and support of diverse-owned investment banking firms,” said Jorge Madrigal, Founder and Chief Executive Officer, Penserra Securities LLC.

Since 2015, Citi has worked with more than 30 firms owned by Veterans, women or underrepresented minorities who have received over $50 million in fees across approximately $200 billion in bond issuance.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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