New York – Citi announced today that it exclusively enlisted women-owned firms as senior co-managers of a $2.25 billion bond issuance on behalf of Citigroup Inc. in celebration of Women’s History Month.

The transaction represents the sixth year that Citi has worked predominantly with women-owned firms to syndicate a bond offering. Additionally, all USD bond offerings since 2015 have included a minority, woman or veteran-owned broker-dealer as part of the underwriting syndicate, further underscoring Citi’s commitment to narrowing racial and gender inequity in capital markets.

Since 2015, Citi has studied the implications of gender equality on economic growth with the most recent Citi GPS report finding that closing the gender gap in business growth globally could add up to $2.3 trillion to GDP and up to 433 million jobs to the labor market. This is an area where Citi is keenly focused and committed to doing its part to incorporate more women and other underrepresented groups on syndicate teams.

“We are pleased to have completed this transaction,” said Michael Verdeschi, Treasurer of Citi. “Our track record with all firms in the syndicate has been successful and we look forward to partnering with them and more women-owned broker-dealers for future offerings,” he continued.

Citi issued $2.25 billion 4-year non-call 3-year senior fixed-to-floating rate notes and floating rate notes indexed to the Secured Overnight Financing Rate (SOFR). The deal was received positively by investors despite challenging market conditions.

In the deal, which priced on March 10, Citi hired eight women-owned broker-dealers to participate in the underwriting syndicate. The firms included C.L. King & Associates, Inc.; MFR Securities, Inc.; North South Capital, LLC; R. Seelaus & Co., LLC; Siebert Williams Shank & Co., LLC; Stern Brothers & Co.; Telsey Advisory Group LLC and Tigress Financial Partners, LLC.

“On behalf of Telsey Advisory Group, we are proud to be a part of Citi’s bond issuance in honor of Women’s History Month. We appreciate our partnership with Citi over the last 7 years and their recognition and commitment to gender equality. Along with the other women-owned broker-dealers included in the Citi syndicate, we look forward to continuing the progress that is being made and are grateful for Citi’s leadership,” said Dana Telsey, CEO, Telsey Advisory Group.