In terms of deal volume, during the qualification period for these awards there was little daylight between the top two banks, Citi and JPMorgan, in debt financing. However, Citi pipped its US rival this year for being the bank that reopened the region for debt financing after the Covid-19 deep freeze.
Citi’s role in bringing sovereign deals was not just impressive but kept the financial wheels of the region turning. Citi brought Mexico, Peru, Paraguay, Panama, the Dominican Republic and Chile to the table as market appetite spiked back from initial falls.
Citi was also in the driving seat in post Covid-19 transactions for corporates and financial institutions; the list included Cabei, Femsa and Kimberley Clark. It also closed successful early market taps for high-yield names such as Cemex and Petrobras and closed a restructuring deal for Ecuador.
As well as providing timely liquidity, Citi also kept its eye on the longer term with environmental, social and governance (ESG)-related deals for Klabin and Mercado Libre.
Citi,