Citigroup
Citigroup maintains a lead position in project finance, but what particularly impressed the judges was its broad geographical coverage and wide range of solutions. In 2003, Citigroup raised $19.2bn in public and private markets for 47 projects, comprised of 20 project bonds and 27 loan projects in 19 countries. It also provided financial advisory services to another 18 projects in 13 countries. Citigroup’s global reach extended to Algeria, Barbados, Brazil, Bulgaria, Chile, India, Indonesia, Nigeria, Poland, Saudi Arabia and South Africa, among others. It was able to deliver on its recommendations with an expanding array of product and structural options at its disposal. The business has broadened progressively from greenfield project lending to advisory, bond arranging, acquisition financing and refinancings, and, increasingly, subordinated debt and principal investments. “Our success is principally attributable to the innovation shown by our team – it is our cornerstone philosophy and underlines the basis on which we operate. Markets and deal structures are always evolving at rapid pace and staying ahead is an important challenge. Our team has been able to achieve this by retaining a client focus mindset – each deal is treated as unique and not “cookie cut” from market precedents or comparables and the number of firsts our team achieves each year in transactions is testimony to this,” says Christopher Hasty, managing director and global head, infrastructure and energy finance, structured corporate finance.
