Citi bumped up to top slot as ACWA returns

Saudi Arabia_230
By Virginia Furness
24 Apr 2017

Saudi Arabian water company ACWA has resurrected its debut deal, thanks to improved market conditions after the trade, which was first announced in November, was delayed. The return of the deal sees Citi bumped up to join Jefferies on the top line.

The “complicated” structure of the original deal had perplexed investors, who asked for “more time to evaluate the proposed offering”, according to a memo sent by leads in December. The borrower had by that time met with 100 investors in the US, Europe, Asia and the Middle ...

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