CITIBANK International plc has fought off tough competition to win BAT Industries' highly sought after $1.15bn mandate. The emergence of the financing, which was launched at the start of the week, has solved the mystery for many banks that were keen to win the top slot. However, BAT has concentrated its favours on just one institution, despite the initial expectation that several additional arranger slots might have been available for other core relationship banks.
September 12, 1997