First Eagle Alternative Credit, an alternative credit manager, closed Lake Shore MM CLO III at $318 million, marking the company’s third collateralized loan obligation that includes middle market leveraged loans. Citi served as lead manager, structuring agent and bookrunner.
BlueVine named marketing veteran Patrick Adams as its chief marketing officer. In this role, Adams will oversee all marketing functions and will report to Eyal Lifshitz, CEO and co-founder.
Citi released a report that estimates the economic losses attributed to racial inequality in the U.S., which posits the lost GDP of systemic and societal racism and discrimination faced by Blacks over the last 20 years to be $16 trillion and provides recommendations the public and private sectors can take to help close the gap.
Following the launch of Citi Impact Fund, the company announced its first four investments in “double bottom line” companies through the new fund; Fulcrum BioEnergy, ICON, PadSplit, and The Mom Project.
Michael Corbat, CEO of Citi, will retire and step down from the company’s board of directors in February of 2021. Jane Fraser, currently Citi’s president and CEO of global consumer banking, will succeed Corbat as CEO and on the board of directors.
Ares Management, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking reached a strategic agreement to collaborate on future business opportunities.
BNP Paribas, Handelsbanken and Nordea acted as coordinating mandated lead arrangers and bookrunners for a €750 million revolving credit facility for UPM.
Citibank acted as sole structuring agent for Atlas, which closed its $285 million senior secured financing on behalf of its wholly owned subsidiary, APR Energy.
Citi, together with a syndicate of international banks, completed a £625 million ($692 million) term loan facility with Jaguar Land Rover Automotive.
OceanaGold has amended its existing $200 million revolving credit facility with its banking partners: Scotiabank, Citi, HSBC, Commonwealth Bank of Australia, Natixis and BNP Paribas.