Citi hires women-owned firms as lead managers for $1.5 billion bonds

By Lisa Kerner

Charlotte, N.C., March 2 – Citigroup Inc. said it hired five women-owned firms as lead managers of a $1.5 billion bond issuance as part of its ongoing commitment to support women, minority and veteran-owned businesses.

The women-owned firms included C.L. King & Associates; Lebenthal & Co., LLC; MFR Securities, Inc.; Siebert Brandford Shank & Co., LLC; and Telsey Advisory Group, according to a news release.

“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,” said Lebenthal chief executive officer Alexandra Lebenthal.

As previously reported, Citigroup sold $1.5 billion of 10-year subordinated notes (Baa3/BBB/A-) on Tuesday at Treasuries plus 280 basis points.

Proceeds will be used for general corporate purposes.

Pricing was at 99.802 to yield 4.625%.

Citigroup Global Markets Inc. was the bookrunner.

In October, the New York-based banking and financial services company worked exclusively with veteran-owned firms on a similar $1.5 billion offering.

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