normal text medium text large text print

VietinBank Appoints Citi as Trustee and Agent on USD 250 Million Global Notes Issuance

Hong Kong, Vietnam - July 3, 2012 – Citi’s Agency and Trust business, part of the Citi Transaction Services division, has been appointed as Trustee, Principal Paying Agent, Registrar and Transfer Agent for VietinBank’s USD 250 million global notes issuance. This transaction represents VietinBank’s maiden issuance and is the first ever debt issuance by a Vietnamese financial institution into the global capital markets.

VietinBank, or Vietnam Joint Stock Commercial Bank for Industry and Trade, is a leading financial institution in Vietnam in terms of total assets and branch network size. It has correspondent banking relationships with more than 900 financial institutions in 90 countries and was the first Vietnamese bank to open a branch in Europe. Proceeds raised from the offering will be used to increase outstanding loans to customers and progress both their domestic and international growth strategies.

"This global bond issuance represents an important milestone for VietinBank as it helps to further our growth strategy by diversifying our investor base and sources of funding," said Mr. Le Duc Tho, Deputy CEO, VietinBank. "Citi’s global network, commitment and extensive corporate trust expertise were all critical in executing this transaction, and we are happy to have a dedicated business partner like Citi."

As Trustee, Principal Paying Agent, Registrar and Transfer Agent, Citi will facilitate the issuance and ongoing administration of the bond, including servicing all principal and interest payments for the life of the transaction.

"Citi is honored to play a role in Vietinbank’s landmark USD 250 million 5-year bond" said Brett Krause, Citi Country Officer of Vietnam. "We are a market leader in Agency and Trust services and pleased to be supporting companies like VietinBank access new sources of funding to achieve their business goals as they look to expand their businesses across Vietnam and worldwide."

Through its Agency and Trust business, Citi provides innovative banking solutions to financial institutions, corporate clients and public sector entities. Spanning a network of over 100 countries, the business offers a full range of agency, fiduciary, tender and exchange, depository and escrow services, administering over USD 4 trillion in fixed income and equity securities on behalf of 2,800 clients. Citi was recently named "Best in Corporate Trust" in The Asset Awards 2012.



###
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Citi Transaction Services
Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the first quarter of 2012, it held on average $377 billion in liability balances and $13 trillion in assets under custody.