Finance / United States
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Citigroup Not Yet Out Of The Woods, Despite Loan Sale
April 2008 | Corporate Financing News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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According to reports, Citigroup is nearing a deal to offload US$12bn worth of leveraged loans, as new Chief Executive Vikram Pandit continues to shed high risk holdings in order to shore up capital. The deal will not only mark another stride forward for Pandit in shrinking the company's distressed balance sheet, but may also provide the much needed catalyst required to kick-start trading in leveraged loans.