Citibank Announces Heavy Write-Downs

  • 02 Oct 2007
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Citibank announced a third-quarter pre-tax loss of approximately $1.3 billion on the value of warehoused sub-prime mortgage-backed securities, collateralized debt obligation positions and warehoused leveraged loan obligations yesterday. The bank also announced a pre-tax loss of approximately $600 million in fixed income credit trading. “Despite unusually poor results in certain businesses this quarter, Citi continues to execute its growth strategy and generate momentum across many of its franchises,” said Charles Prince, chairman and ceo, in a news statement. Citibank also said it believes overall net income will be down about 60% from the year ago period when complete third quarter results are announced on October 15.
  • 02 Oct 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 118,624.20 342 12.90%
2 Bank of America Merrill Lynch 99,769.11 286 10.85%
3 Wells Fargo Securities 87,449.35 261 9.51%
4 JPMorgan 67,955.87 206 7.39%
5 Credit Suisse 50,788.13 152 5.52%