GTLP Citi IV (IFC-40688)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 30, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CITIBANK N.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 1,200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2018

Disclosed by Bank Apr 26, 2018


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Project Description

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”).

Investment Description
  • International Finance Corporation (IFC)

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.

Private Actors

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.

Contact Information

Citibank, N.A. 
Barbara Kobelt 
Vice President 
+1 212 816 1063 
Barbara.kobelt@citi.com 
388 Greenwich Street, 25th Floor, New York, NY 10013 
www.citi.com 

 

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