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Financial Stocks Alerts: Regions Financial Corp (NYSE:RF), Citigroup Inc (NYSE:C)

Category: Loan Center Published: Thursday, 07 July 2016 Written by Chance Allen

Shares of Regions Financial Corp (NYSE:RF) ended Thursday session in green amid volatile trading. The shares closed up +0.33 points or 3.62% at $9.45 with 12.91 million shares getting traded. Post opening the session at $9.26, the shares hit an intraday low of $9.24 and an intraday high of $9.45 and the price vacillated in this range throughout the day. The company has a market cap of $11.91 billion and the numbers of outstanding shares have been calculated to be 1.27 billion shares.

On June 22, 2016 Regions Bank announced that it has appointed Bill Horton, Regional President of the South Region, to lead an expanded Commercial Banking Group reporting to John Turner, head of the Corporate Banking Group.

The realigned Commercial Banking Group combines Regions' existing Business Banking and Commercial Banking businesses and will serve small and middle-market companies through relationship managers located across the company's footprint. Regions' Treasury Management and Business Loan Center underwriting groups will also report to Horton.

"Streamlining our commercial banking businesses under Bill's leadership will create a consistent, simplified approach across our markets that enhances our bankers' ability to deepen relationships with clients, understand their needs and provide the best solutions," said Turner. "Bill has more than 40 years of experience serving commercial clients and working with bankers across our markets, and I'm pleased to have him leading our efforts to meet the needs of business clients."

Keith Herron, head of Strategic Planning and Execution, will succeed Horton as Regional President of the South Region, which includes Alabama, Mississippi, South Louisiana and the Florida Panhandle. Herron will report to John Owen, head of the Regional Banking Group.

"Throughout Keith's 28-year career with Regions, he has built a solid career as a banker, a leader and a champion for building deeper and stronger customer relationships," said Owen. "We are fortunate to have a seasoned executive with a wide range of skills and experience leading this important region for our company."

Shares of Citigroup Inc (NYSE:C) ended Thursday session in green amid volatile trading. The shares closed up +1.78 points or 4.17% at $44.46 with 25.70 million shares getting traded. Post opening the session at $43.51, the shares hit an intraday low of $43.47 and an intraday high of $44.50 and the price vacillated in this range throughout the day. The company has a market cap of $129.76 billion and the numbers of outstanding shares have been calculated to be 2.93 billion shares.

On June 22, 2016 Banco Latinoamericano de Comercio Exterior, SA (BLX), Citibank NA (C) and Mizuho Bank Ltd. (MFG) announced the recent closing of a US$135.5 million, 2-year and 3-year dual-tranche senior unsecured syndicated Facility for Global Bank Corporation (Global Bank).

Established in Panama in 1994, Global Bank is the second largest Panamanian-owned bank in terms of assets. The bank is rated BBB-, with a stable outlook, from both Samp;P and Fitch, and Ba1, with a stable outlook, by Moody┬┤s.

Bladex, Citi and Mizuho acted together as Joint Lead Arrangers and Bookrunners in the Facility.

The transaction, which attracted several financial institutions from Japan, Taiwan, the United States of America, and Latin America, was upsized to US$135.5 million from an original amount of US$104 million due to strong investor demand.

Jorge Vallarino, Chief Financial Officer of Global Bank stated: We are extremely pleased to have closed this important facility, led by strong financial partners like Bladex, Citi and Mizuho. While this was not the first international syndicated loan done by Global Bank, it allowed the bank to strengthen some of its existing lending relationships and, moreover, to add new banking relationships--particularly from Asia, and further diversify its funding sources.



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