Citibank 2012 Annual Report Download - page 14

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Citi’s Institutional Clients Group serves multinational and local
corporations, financial institutions, governments and privately
held businesses in more than 160 countries and jurisdictions.
Our talented professionals build enduring relationships with
clients and help them achieve their goals by offering a full
suite of strategic advisory and financing products, services
and solutions.
Corporate and Investment Banking
Citi’s Corporate and Investment Banking franchises provide
comprehensive relationship coverage service to ensure
the Institutional Clients Group is client driven. With our
strong presence in numerous countries — Citi has been in
many markets for more than 100 years — we leverage our
country, sector and product expertise to deliver Citi’s global
capabilities to clients wherever they choose to compete.
Citi’s Corporate and Investment Banking client teams are
organized by industry and by country. Each team comprises
two parts: Strategic Coverage Officers, who focus on
mergers and acquisitions and equity and related financing
solutions; and Corporate Bankers, along with their Capital
Markets product partners and with support from our Global
Subsidiaries Group, who deliver corporate banking/finance
services to global, regional and local clients.
In 2012, Citi served as the trusted advisor for several of the
financial markets’ transformational transactions, including
co-advisor on Express Scripts’ $34 billion acquisition of Medco
Health Solutions; Citi provided half of the $14 billion bridge
loan in connection with the transaction. Citi also served
as a co-advisor on Eaton’s $12 billion acquisition of Cooper
Industries and was one of two banks that committed to a
$6.75 billion senior unsecured bridge facility to finance Eaton.
In addition, Citi was lead advisor on AMC Entertainment’s sale
to China’s Dalian Wanda Group for $3 billion. This transaction
represents the largest outbound acquisition by a private
Chinese company.
Capital Markets Origination
Citi’s Capital Markets Origination business, focused on raising
debt and equity, is the first choice among issuers for their
underwriting needs due to an unmatched global footprint,
diverse range of products and track record of executing
transactions for its clients amid unprecedented market
conditions. Issuers turn to Citi for inaugural issuances; repeat
business; and their largest, landmark transactions, strongly
demonstrating Citi’s structuring and execution expertise to
meet client needs. In the equity capital markets over the last
year, Citi led the market both in terms of proceeds raised and
in innovation in the capital markets. Citi is the clear choice
for debt capital markets transactions, based on its continued
underwriting leadership in transactions across a broad range
of currencies and markets, displaying consistent dominance
and success in navigating challenging fixed income conditions.
In 2012, Citi led several important transactions for our clients,
including Petrobras’ $7 billion multitranche bond offering —
the largest-ever emerging market corporate bond offering in
the international market — and was the only firm to lead the
five discrete equity transactions for the sale of AIG by the U.S.
Treasury. Citi was joint bookrunner on the $850 million private
placement project bond for Topaz Solar Farms, a $2.4 billion,
550 megawatt solar project being developed by MidAmerican
Energy Holdings Company, the diversified energy company
majority owned by Berkshire Hathaway. When completed,
Topaz will be the largest solar project in the U.S. Citi advised
Institutional Clients Group
Highlights
• Citi Transaction Services was named Best Transaction
Banking House by Euromoney for the third year in a
row and for nine of the last 11 years overall and received
the Top Rated Agent Bank recognition in the Global
Custodian Agent Banks in Major Markets Survey for the
third year in a row.
• International Financing Review awarded Citi Best
North America Equity House of the Year, Emerging
EMEA Bond House, U.S. Investment Grade Bond House,
Americas Structured Finance House and Americas
Liability Management House.
• Citi is the largest corporate card issuer in the U.S. as
ranked by The Nilson Report for the third year in a row
and is the first international bank to offer commercial
card programs in China.
Citi’s China Desk initiative, which sends senior Chinese
bankers to strategic locations to serve Chinese companies
doing business in international markets, now is active in
Algeria, Dubai, Hong Kong, Johannesburg, London, New York,
Nigeria and Singapore.