ACA Capital shares could fall on subprime: Barron's

(Reuters) - Should the U.S. subprime troubles prove to be systemic across different geographies, then not only would shares be hammered, but the company could be toast, Barron's said.




If ACA buckles under, Wall Street firms whose securities the company insured would also be hurt. The $61 billion of ACA's insured exposure would come cascading back to balance sheets of the likes of Bear Stearns , Merrill Lynch , Lehman Brothers , and Citigroup along with some 25 other Wall Street counterparties, Barron's said.


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HK financier Francis Leung joins CVC as adviser

(Reuters) - Leung, a long-time banker to Hong Kong tycoon Li Ka-shing with close China ties, was with Citigroup Global Markets as chairman of Asia until last year focusing on developing Citigroup's Greater China investment banking business, CVC said.




CVC, which is a major shareholder in global motor racing business Formula 1, owns interest in Australia's media group PBL Media, Japan's restaurant chain Skylark, Singapore's precision metals stamping firm Amtek, Malaysia's largest paper packaging firm GS Paper and Packaging, and Chinese wood fibreboards maker Plantation Timber Products.


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UPDATE 2-Pakistan issuer defers bond, others may follow

(Reuters) - KARACHI/HONG KONG, Aug 3 - Pakistani textile and
fertiliser maker Azgard Nine has postponed its
international bond issue due to poor market conditions, sources
familiar with the deal said on Friday, with other pending high
yield issues from Asia also seen as vulnerable.




Azgard Nine said in May its debut international bond,
sponsored by Citigroup , would be worth up to $260 million,
and have a tenor of between seven and 10 years.


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Sunrise weighs sale of senior-living chain

(Reuters) - CHICAGO, July 25 - Sunrise Senior Living Inc , the biggest U.S. owner of assisted living facilities for seniors, said on Wednesday its board is weighing strategic alternatives, including a possible sale of the troubled chain.



Sunrise, which has been under investigation by U.S. regulators and is in the midst of restating its earnings for 2003 to 2005, said its committee of nonmanagement directors has chosen Citigroup Global Markets as a financial adviser.


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UPDATE 1-JPMorgan says wins approval to incorporate in China

(Reuters) - SHANGHAI, July 23 - Wall Street bank JPMorgan
said on Monday it had won final approval to set up a
wholly owned unit in China to strengthen its wholesale banking
business in the world's fastest growing major economy.




This move will make JPMorgan the second U.S. bank to
incorporate in China, after Citigroup Inc. did so early
this year, while more than a dozen foreign banks queue to secure
regulatory approval for their China-incorporated units.


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Citigroup, Wachovia profits top forecasts

(Reuters) - Profit rose 18 percent at Citigroup, the largest U.S. bank,
and 24 percent at Wachovia, the fourth largest.




Shares of both companies fell, however, as investors
worried that banks would get stuck with more soured consumer
loans or riskier corporate debt on their balance sheets.


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Citigroup 2nd-qtr profit rises 18 pct

(Reuters) - NEW YORK, July 20 - Citigroup Inc. , the largest U.S. bank, said on Friday that second-quarter profit rose 18 percent, helped by record revenue growth, especially outside the United States, and tight cost controls.



Net income increased to $6.23 billion, or $1.24 per share, from $5.27 billion, or $1.05, a year earlier.


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Citigroup to take stake in Banco de Chile parent

(Reuters) - Quinenco said it would retain control of the parent company, LQ Financial Investments.




Quinenco said it aimed to complete the Citigroup operation by the start of next year, and it would involve a merger of Banco de Chile and Citigroup's banking assets in Chile.


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T.Italia close to Brasil Telecom stake sale-report

(Reuters) - Egyptian telecom operator Orascom Telecom pulled
out of talks to buy the Telecom Italia stake in Brasil Telecom
last month.




Brasil Telecom's controlling shareholders are a group of
Brazilian state-run pension funds and Citigroup , which
have said in the past they plan eventually to sell their stakes.


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Air Liquide sets guidance on 10-year euro bond -lead

(Reuters) - BNP Paribas, Calyon and Citigroup are managing the sale.




Shares in Air Liquide rose sharply on Tuesday on market talk
of bid interest from private equity group KKR [KKR.UL], traders
said.


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U.S. Stocks Decline, Led by Lexmark; Tyco International Shares Retreat

(Bloomberg) -- Most U.S. stocks fell after Lexmark
International Inc. said second-quarter profit missed the
company's forecast and Citigroup Investment Research downgraded
Tyco International Inc.

Lexmark, the second-biggest U.S. printer maker, posted the
steepest drop in the Standard & Poor's 500 Index after it said
a slump in its consumer business will continue this quarter.
Tyco, the world's largest maker of security and fire systems,
slid after Citigroup lowered its rating on the shares to
``sell'' from ``hold.''


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U.S. ABS issuance falls in first half of 2007

(Reuters) - Analysts had predicted at least a 30 percent drop in
subprime loan originations for this year.




Citigroup was the top underwriter of asset-backed
securities in the first half, underwriting $66.1 billion worth
of ABS deals via 109 offerings, Thomson said.


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Thomson gets 4.8 bln pounds loan for Reuters

(Reuters) - The loan is structured as a 364-day bridge financing and has been arranged by Barclays Capital, Royal Bank of Scotland and Toronto Dominion Bank. J.P. Morgan, Bank of America and Citigroup also participated in the financing.



Pricing is 20 basis points over Libor, with a 5 basis points facility fee.


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Banco de Chile Controller Resumes Alliance Talks With Citigroup

(Bloomberg) -- Quinenco SA, the Santiago-based
controller of Chile's second-largest bank Banco de Chile, has
resumed strategic alliance talks with Citigroup Inc.

Negotiations cover a possible alliance between Citigroup and
Quinenco's financial and banking operations, which include Banco
de Chile, the Santiago-based holding company said in a filing to
securities regulators after the market closed yesterday.


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Dollar General sells $1.9 bln in 2 parts - source

(Reuters) - Goldman Sachs, Citigroup Global Markets, Lehman Brothers
and Wachovia Securities were the joint lead managers of the
sale.




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Australia court clears Citigroup of insider trading

(Reuters) - Australian regulators had charged the bank with breaching its "Chinese Walls" after a chat between two Citigroup dealers over a cigarette break on a Sydney street led one trader -- Andrew Manchee -- to believe his firm was involved in the A$6.3 billion takeover of stevedoring firm Patrick by rival Toll Holdings Ltd. in 2005.




That trader, then in possession of "inside information", sold a parcel of Patrick shares later that day, the Australian Securities and Investments Commission told the court.


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Aspreva, Crocs, Data Domain, Given Imaging, McCormick: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 3:05 p.m. New York time.

Oil Refiners: Citigroup Global Markets Inc. downgraded
shares of Valero Energy Corp. (VLO US), the largest U.S. refiner,
and Tesoro Corp. (TSO US), the largest refiner in the U.S. West,
to ``sell'' from ``hold'' because of valuations. Sunoco Inc. (SUN
US), the biggest refiner in the Northwest, was cut to ``hold''
from ``buy.'' Valero fell $1.08, or 1.5 percent, to $73.58.
Sunoco lost $1.21 to $79.12 and Tesoro retreated $1.21 to $56.70.


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Andrew, Jones Soda, Mosaic, Nuvelo, Valero Energy: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:30 a.m. New York time.

Oil Refiners: Citigroup Global Markets Inc. downgraded
shares of Valero Energy Corp. (VLO US), the largest U.S. refiner,
and Tesoro Corp. (TSO US), the largest refiner in the U.S. West,
to ``sell'' from ``hold'' because of valuations. Sunoco Inc. (SUN
US), the biggest refiner in the Northwest, was cut to ``hold''
from ``buy.'' Valero fell $2.34, or 3.1 percent, to $72.32.
Sunoco lost $2.30 to $78.03 and Tesoro retreated $2.64 to $55.27.


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UPS selling $59 mln in Sinotrans shares -source

(Reuters) - Citigroup is the sole bookrunner on the transaction.




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U.S. Foodservice postpones LBO financing: sources

(Reuters) - It was not clear whether the two intend to finance their LBO by bridge loans that have been provided by Citigroup, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley and RBS Securities.



U.S. Foodservice was in the process of raising a $3.36 billion bank loan and a $650 million high yield bond offering.


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