For Firms That Got Citi’s $900 Million, It’s a Shot at Payback
- Lenders increasingly accuse loan agents of favoring borrowers
- Banks being dragged into intensifying credit-market brawls
This article is for subscribers only.
If Citigroup Inc. was looking to create a drama big enough to compete with the pandemic and U.S. elections for Wall Street’s attention, it couldn’t have written a better script.
The bank allegedly facilitated a debt deal that left a group of lenders fuming, then accidentally sent those firms hundreds of millions of dollars that it had to, politely, ask to be returned.