Awards for Excellence 2018
A stellar capital markets franchise, deepening advisory capability and extensive on-the-ground presence proved a winning combination for Citi in CEE investment banking.
In debt capital markets, a revival of activity across the region played to Citi’s strengths. As Eurobond issuance surged by a third to $91.1 billion, the highest level since 2013/14, the US firm regained the top spot among international banks in Dealogic’s rankings thanks to its impressive breadth of coverage.
In addition to maintaining a stranglehold on the Turkish Eurobond market and securing a sizeable chunk of strong flows from Russia, Citi won mandates on sovereign deals from every corner of the region – including Belarus’s dollar market return and Tajikistan’s debut international issue – as well as a clutch of corporate and financial institution transactions.
In the primary equity markets, a plethora of accelerated bookbuilds for Russian clients helped Goldman Sachs nudge Citi down to second place in the overall rankings. Citi’s record in IPOs, however, was unmatched.