面对世界银行估算的5240亿美元乌克兰重建市场，花旗集团率先布局，计划承销全球首只“债务换重建”（debt-for-reconstruction）债券。媒体援引知情人士消息称，自去年底以来，花旗持续向潜在投资者进行推介这一产品。市场分析人士认为，乌克兰重建融资将成为未来全球资本市场的重要机遇，多家国际金融机构正在竞相布局，而花旗正试图在这一新兴市场中抢占先机。
花旗内部将此交易称为“债务换重建”（debt-for-reconstruction swap），它借鉴了“债务换自然”（debt-for-nature）等现有工具的结构。据一位知情人士称，截至今年5月，花旗为此项交易设定的目标规模在7.5亿至10亿美元之间。
此项交易也将标志着花旗进入ESG债务互换安排市场，其竞争对手摩根大通、渣打银行和三菱日联金融集团已于去年进入该领域。数据显示，商业可持续性债务互换市场的新发行规模在去年已增长超过一倍。值得一提的是，花旗是唯一一家自战争爆发以来仍在乌克兰境内保持运营的华尔街银行，在当地拥有约500家客户，其中包括乌克兰政府。
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