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| Awards for Excellence 2012 Regional Awards for Excellence 2012: Latin America All regions and countries |
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| Caribbean winners by country Best Caribbean Investment Bank Bahamas Bermuda Dominican Republic Jamaica |
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| Citi is facing an increasing challenge to its hegemony in providing investment banking services throughout the Caribbean but its physical presence in the region, derived from its local banks, has so far held off the challenges from offshore firms. Citi demonstrated its relationships at all levels, with the bank leading on the Dominican Republic’s $250 million bond reopening, pricing at the lowest-ever rate achieved by the sovereign (6.87%). Within a couple of hours of launching the transaction, demand had hit $2 billion from 120 investors worldwide, enabling strong execution and pricing. Another facet of Citi’s Caribbean strength in depth is shown by the $88 million domestic bond it arranged for the Urban Development Corporation of Trinidad and Tobago. The proceeds were used to refinance debt for the construction of the Ministry of Education Tower and the bank built a book subscribed 1.5 | |