Issuer Services

Issuer Services is a business line within Citi Transaction Services, comprised of the combination of Agency and Trust and Depositary Receipt Services. While the transactions we support may differ, Citi is a leading provider of processing services in both areas.

Agency and Trust
Agency and Trust provides innovative banking solutions to financial institutions, corporate clients and public sector entities around the world. The business offers a full range of agency, fiduciary, tender and exchange, depository and escrow services in both developed and emerging markets, administering over US$4 trillion in fixed income and equity investments on behalf of 2,600 corporations worldwide as of Q2 2012.

Core services offered by Agency and Trust include:

  1. Debt Services
    Agency and Trust services can simplify the issuance and payment process, and provide high customer satisfaction among holders. You can count on us to provide total transaction support for all your commercial paper, medium term notes and bond needs, supported by an advanced technology platform and a global network.
  2. Escrow Services
    The support of an experienced Escrow Agent able to simplify and centralize transaction flows on a complex deal, and bring speed, innovation and global execution capabilities to the table, is vital. Agency and Trust can support escrow requirements for a wide variety of transactions, such as:
    • Mergers and acquisitions
    • Asset sales/divestitures
    • Global trade
    • Bankruptcies
    • Collateralized lending
    • Litigation escrows
    • Corporate restructurings
  3. Project Finance
    Agency and Trust offers a full spectrum of corporate trust services including Accounts Bank, Security Trustee, Escrow Agent, Collateral Agent and Distribution Agent to support project finance transactions in all industry sectors, regardless of funding source, in a wide variety of geographies.

    Agency and Trust provides administrative capabilities and service integration for the most complex financings — from securing collateral to managing the "waterfall" funding flow for the accounts.
  4. Merger and Acquisition Services
    A trusted agent can help manage the complexities of executing domestic and cross-border mergers and acquisitions. Agency and Trust has proven experience in providing fiduciary and agency services for a full spectrum of reorganization transactions. Our solutions include:
    • Paying, Tender and Exchange Agent
    • Escrow Agent
    • Closing Agent
  5. Collateralized Debt Obligations (CDOs)
    Agency and Trust, working with Virtus Partners LLC, provides trustee and collateral administration services for issuers and arrangers of CDOs worldwide who are at the forefront of the industry. We tailor our CDO offerings to our clients' needs, using bond analytics and leading technology. Specific CDO solutions provided by Agency and Trust and Virtus include:
    • Trustee
    • Paying Agent
    • Portfolio Administration
    • Custodian
    • Cash Manager
    • Account Bank
    • Calculation Agent
    • Listing Agent
  6. Structured Finance
    Agency and Trust can service every type of asset-backed and mortgage-backed security, including the traditional examples below. We also have the infrastructure to anticipate and support Structured Finance needs that arise in turbulent market conditions.
    • Car Loans and Leases
    • Commercial Loans
    • Student Loans
    • Credit Cards
    • Equipment Loans and Leases
    • Residential and Commercial Mortgages
    • Home Equity
    • Trade Receivables

Depositary Receipt Services
Citi's Depositary Receipt Services is a leader in bringing quality issuers to global capital markets and in promoting Depositary Receipts (DRs) as an effective capital markets tool. Citi began offering DRs in 1928 and today is widely recognized for providing companies with access to the powerful global platform Citi has to offer.

A Depositary Receipt program can serve a variety of purposes. Whether you are looking to raise capital, build international visibility or diversify your shareholder base, Citi is aligned to help you achieve your goals. When supporting a Depositary Receipt program, Citi provides issuers with access to the following value-added resources:

  • Experienced in-house global Investor Relations team—providing advice, strategic insight and practical counsel directly to issuers
  • Unparalleled global sales and distribution network—consisting of large & mid-tier institutional investors and retail clients
  • Dedicated Account Management team—enabling a single point of contact for comprehensive support
  • Specialized Structuring and Implementation team—ensuring the efficient execution of transactions
  • Innovative Product Management team—developing resourceful solutions for enhanced access to markets and investors

For more information on Citi's Depositary Receipt Services, visit

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