Avaya Reaches Agreement with Creditors to Support Restructuring

Avaya entered into a plan support agreement (PSA) with holders of more than 50% of its first lien debt, including certain members of the ad hoc group of first lien creditors. In January, Citibank provided $725 million DIP when the company entered Chapter 11.

Citicorp Agents $75MM Sherwin-Williams Upsize

Citicorp served as administrative agent and issuing bank for an amendment to Sherwin-Williams’ credit agreement, increasing availability to $425 million.

Evercore, Others Lead Golar $150MM Financing

Golar LNG closed a new term loan credit facility of up to $150 million. Clarksons Platou Securities, Danske Markets and Evercore ISI were joint lead managers in the offering. Citicorp was sole bookrunner.

Citicorp Downsizes Alison Transmission Revolver to $450MM

Alison Transmission reduced the available commitments under its revolving credit facility to $450 million and amended other provisions of the senior secured credit facility. Citicorp served as administrative agent.

Banks Plead Guilty to FX Fraud; Will Pay $5.8B

Global claimant firm Hausfeld said five defendants, including Barclays, Citicorp, JPMorgan, RBS and UBS, agreed with the U.S. Department of Justice to plead guilty to violating U.S. law through their conduct in the FX market.

Citicorp Agents Federal-Mogul Holdings Refi

Federal-Mogul Holdings announced it successfully secured $2.6 billion to refinance existing debt. Citicorp USA acted as administrative agent, according to an SEC filing.