Citibank Named Global Paying Agent for Deutsche Telekom Record-Setting Multicurrency Bond Issue.Business Editors NEW YORK--(BUSINESS WIRE)--June 30, 2000 Citibank Agency & Trust Services, a division of Citigroup's Global Corporate and Investment Bank, today announced it has been named global paying agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. for Deutsche Telekom's recently completed $14.5 billion bond sale. The sale was the biggest corporate bond deal in history and the largest global-bond issue ever. "Citibank is pleased to have been chosen to play a significant role in this historic transaction," said Jeffrey Volk, Managing Director of Citibank Agency & Trust Services. "This mandate underscores the degree to which Citibank is recognized by major issuers around the world for its global bond capabilities." Citibank Agency and Trust is the largest global provider of corporate trust, escrow and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London, the division is responsible for over $1.5 trillion in fixed income, escrow, corporate finance, project finance, advisory, and related transactions. More than 3,000 corporations routinely utilize Citibank's Agency and Trust Services in 65 countries worldwide. Citibank Worldwide Securities Services (WWSS WWSS Worldwide Satellite Systems (US DoD contract vehicle) WWSS Warfare and Warfare Support System ) is a unit of Citigroup's Global Corporate and Investment Bank. WWSS services global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 50 countries. It currently provides securities services to more than 3,000 customers worldwide and has $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top-ranked global clearer, and recognized leader in depositary receipt depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue services, and agency and trust services. The local presence of WWSS, supported globally by Regional Service Centers, ensures clients of consistent transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. worldwide, proprietary control of clearing cycles, and reduced risk in all cross-border securities transactions. Citigroup (NYSE NYSE See: New York Stock Exchange :C), the most global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, provides some 100 million consumers, corporations, governments, and institutions in 101 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit, and Primerica under Citigroup's trademark red umbrella. Additional information can be found at http://www.citi.com. |
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