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In investment banking in this region, Citi’s historic business and corporate ties to the area have long given it an advantage in capturing the lion’s share of central America’s sporadic international capital markets transactions. The bank is increasingly successful in leveraging its corporate clients that it retains through its cash management business.
Citi led on the Republic of El Salvador’s $80 million, 12-year transaction – the first international bond from the sovereign since 2012. The bank has also tapped the local markets for corporates, an increasingly important differentiator for Citi as it enables it to advise local companies on the relative benefits and costs of a range of financing. An example of this was Citi’s local DCM transaction for the Dominican Republic’s power generator EGE Haina, for which it was the sole lead structuring and placement agent for $100 million of 2025s.
Citi was also a leader in one of the standout products of the year in the region, syndicated bank loans, and can point to increasing activity in executing FX, rates and other derivatives trades for clients across the region.