Citi has partnered exclusively with Hispanic-owned firms to orchestrate a $750 million bond issuance in celebration of National Hispanic Heritage Month. These six firms, including Apto Partners LLC, Cabrera Capital Markets LLC, Great Pacific Securities, Guzman & Company, Penserra Securities LLC, and Samuel A. Ramirez & Company, Inc., were part of this collaboration according to a press release.

Citi has been actively working with minority-owned firms for several years. According to a press release, "Since 2015, Citi has worked with more than 30 firms owned by Veterans, women or underrepresented minorities who have received over $50 million in fees across approximately $200 billion in bond issuance."

The bond issuance, consisting of Floating Rate Notes due in 2025, settled on September 29. Citibank, N.A. employed the six Hispanic-owned firms in the underwriting syndicate for this transaction, as stated in a press release.

Michael Verdeschi, Treasurer of Citi, expressed his pride in the successful execution of the transaction and highlighted the benefits of partnering with underrepresented firms. "Partnering with traditionally underrepresented firms on our bond offerings provides benefits to both Citi and these firms and helps us fulfill our collective mission to enable economic growth and progress," he said, according to a press release.

The Hispanic-owned firms involved in the issuance also expressed their appreciation for the opportunity and praised Citi for its commitment to supporting diversity. Sam Ramirez Jr., Senior Managing Director of Ramirez & Co., stated, "We’re honored that Citi has appointed us to a senior role in its bond issue in recognition of National Hispanic Heritage Month, along with other Hispanic-owned underwriters. Citi has long been a reliable partner to minority, veteran, and women-owned broker-dealers. We applaud Citi for taking this extra step in highlighting its support for the Hispanic community," according to a press release.

Jorge Madrigal, Founder and CEO of Penserra Securities LLC, also expressed gratitude for the opportunity given to Hispanic-owned firms. "Citigroup continues to create real opportunities for diverse firms to have meaningful participation in their debt offerings. As we celebrate Hispanic Heritage Month, our team at Penserra is grateful for the opportunity given to us and other Hispanic-owned firms to act as a Senior Co-Manager on Citibank’s $750 million 2-year bank note floater. We are encouraged by Citi’s commitment and support of diverse-owned investment banking firms," he said, according to a press release.

Citi's collaboration with Hispanic-owned firms in this bond issuance demonstrates the company's ongoing efforts to promote diversity and inclusion in the financial industry.