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Commodities We are a specialist commodity team focusing exclusively on providing industry-specific commodity risk management solutions to our global customer base. We provide 24 hour access to the full range of risk management techniques through our regional hubs in New York, London and Sydney. Our key focus is in the energy and metals sectors servicing producers and end consumercreditcounsellingservices users globally. Together consumercreditcounsellingservices with Our company and Phibro we provide the full range of commodity-related risk management services including futures, physical trading and structured risk management tools. Additionally, we have access to the full range of equity and futures research of Our company. Our global network, combined with a strong customer focus, uniquely positions us as one of the premier commodity risk management institutions for clients seeking innovative financial products and services in the global marketplace. Loans Structuring and Syndications Our company''s leadership in loan syndications stems from ability to forge strong relationships not only with borrowers but also with bank investors. Because we understand our syndicate partners'' asset criteria, we help borrowers meet substantial financing needs by enabling them to reach the banks most interested in lending to their particular industry, geographic location and structure through syndicated debt offerings. Our syndication capabilities are complemented by our own capital strength and by industry teams who bring specialized knowledge to the structure of a transaction. To enhance your ability to meet your financial obligations and operate effectively, Our company offers assistance in the form of working capital loans, overdrafts, term loans (including real estate loans and other secured debt), backstops and revolvers. We work closely with you to understand the dynamics of your business so that we can anticipate and serve short-term and long-term funding needs in consumercreditcounsellingservices the most efficient manner, drawing consumercreditcounsellingservices and consumercreditcounsellingservices from the full range of our global resources and capabilities. Most of the leases are for a substantial consumercreditcounsellingservices part of the equipment''s useful life, and therefore the lessee needs to be very credit-worthy. Often the lessor will be in different jurisdictions than the lessee, and Citicorp will determine the optimum consumercreditcounsellingservices jurisdiction after taking into consideration the tax impact on the lessee of entering into the transaction. Principal investor jurisdictions include the U.S., Germany, consumercreditcounsellingservices Japan, the U.K. and France. Since leases are treated in many countries as off balance sheet finance, Citicorp has also designed some shorter term lease structures which we intended to be treated as leases for accounting purposes, but may be loans for tax purposes. Such leases allow a company to raise 100% finance, pay low rentals and have an option to acquire the equipment in the future at a predetermined price. This will consumercreditcounsellingservices result in an improvement in the income statement without a balance sheet impact. There will be some disclosure of lease rates which rating agencies will use to increase liabilities.
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