The proposed project, GTLP Citi IV, falls under the Global Trade Liquidity Program, a trade finance program launched by the International Finance Corporation in 2009. The Global Trade Liquidity Program provides liquidity or guarantees thereby helping banks to more fully utilize their credit limits, manage risk and support trade in the emerging markets. Since its launch, the GTLP Program has supported more than US$54.4 billion in trade (one third of which in IDA countries). The GTLP Citi IV project is a renewal of the existing GTLP Citi III transaction. GTLP Citi IV involves establishing a funded risk sharing facility with Citibank, N.A. (“Citi” or the “Bank”) for up to US$1.2 billion, with an IFC investment of up to US$600 million in a portfolio of trade finance assets (the “Project”).
The Project will be in an amount up to US$1.2 billion with an underlying portfolio of trade finance assets, risk-shared by Citi and IFC/Program Partners on a 50:50 basis.
The Bank’s parent, Citigroup Inc. is listed on the New York Stock Exchange and the Bolsa Mexicana de Valores. Citi is rated ‘A+’, ‘A1’, and ‘A+’ by Standard & Poor’s, Moody’s and Fitch, respectively, with a positive outlook from Moody’s and a stable outlook from Standard & Poor’s and Fitch. Shareholders with holdings larger than 5% include Blackrock, Inc. (7.33% stake); Vanguard Group, Inc. (7.09% stake), as of April 2018.
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