December 1, 1997
From LatinFinance, Number 93
by Judith Evans
CEI Citicorp Holdings SA is a child of controversy. It was set up by Citicorp in 1990 to hold the assets the US bank hoped to acquire with the $850 million in distressed Argentine debt paper it held when—and if—state-owned companies were sold off. With that goal in view, Richard Handley, then head of Citibank in Argentina, lunged into the mid-1980s scrum to get government approval for debt/equity swaps.
Handley worked magic. The $850 million in debt that was worth roughly 10 cents on the dollar when President Carlos Menem gave the green light for debt/equity s
CEI Citicorp Holdings' Handley still hooking hard in tough scrums