Citigroup Inc. has been dropped from the group of banks poised to handle the biggest-ever municipal-bond transaction from Texas after the state’s attorney general’s office determined the firm discriminates against the firearms industry, barring it from underwriting most government borrowings in the state, due to its dedication to Woke ESG policies.
The Texas Natural Gas Securitization Finance Corp. board met Thursday and took action to “reconstitute” the syndicate on the $3.4 billion deal, according to Lee Deviney, executive director of the Texas Public Finance Authority, the state agency overseeing the borrowing. Citigroup had been listed in the original iteration of the underwriting firms approved by the board in May and is no longer included in the final group.
(Full story HERE.)
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