Awards for Excellence 2002
Citigroup
In 2001 Citigroup was the top global arranger of project finance loans, the top global bookrunner of project finance bonds, and the top financial adviser on project finance deals. That's the first time that any bank has ranked first in all three tables.
Citigroup has always been a major force in project finance, and now stands as the only US bank still in the business after Bank of America pulled out in February. And it is also one of the few banks left in the business that has sizable operations in Europe, the US, Latin America and Asia. The only other two banks with a claim to that scope are CSFB and Société Générale. "Competition is much more fragmented than it used to be," says Chris Beale, global head of project finance at Citigroup. "While some have pulled back from regions or sectors, we've maintained it as a core business."
In 2001 Citigroup raised $62 billion of capital in public and private markets for 107 projects in 37 countries. In addition, the bank acted as adviser on another 83 deals in 40 countries worth more than $70 billion.
In terms of capital raising, Citi worked on some of the most important deals of the year.