Citibank to expand shipping loan book
Citibank is expanding shipping exposure, following its purchase of a $2bn face-value chunk of Société Générale’s shipping portfolio and its participation in syndicated loans to industry heavy hitters Sovcomflot and Angelicoussis Shipping.
Recent moves by the US bank have left some rival bankers wondering whether the spate of deals presages a major new push into the shipping market, designed to take advantage of Citi’s exceptionally low dollar funding costs, which give it...
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