Citi Agented Syndicated Loans Launch on Versana's Transformative Digital Data Platform
NEW YORK, Oct. 10, 2023 /PRNewswire/ -- Versana today announced that founding investor Citi is now connected to its transformative digital data platform, enabling syndicated loans agented by Citi to be available to Versana's growing subscriber base in real-time.
Citi joins Versana's other three founding investors – Bank of America, Credit Suisse and J.P. Morgan – in centralizing global reference, historical transaction, position and floating-rate contract details for the $7 trillion syndicated loan and private credit markets. Thousands of additional facilities are expected to be available on the platform in the coming months as Versana continues to scale and onboard three additional agent banks – Deutsche Bank, Morgan Stanley and Wells Fargo – all of which invested in Versana earlier this year.
"With Citi's connectivity to Versana, we continue to deliver on our mandate to digitally centralize administrative agents' data on one platform across the corporate loan asset class," said Versana's Founding CEO Cynthia E. Sachs. "We thank Citi for their tireless work in making this launch a reality. We're thrilled for Citi to join their founding investor peers in offering a total of 1,500 facilities, $900 billion in commitments, on the Versana platform to their institutional clients."
"Citi has been committed to the Versana platform from the very beginning as we recognized that real-time information sharing is critical for the growth of the syndicated loan market," said Michael Hershkowitz, Chief Operating Officer of Wholesale Lending for Citi's institutional businesses. "We're excited to be fully connected to the Versana platform and to further Versana's mission to transform the industry."
About Versana
Versana is an industry-backed digital data and technology company on a mission to transform the syndicated loan and private credit markets. By digitally capturing agent banks' data on a real-time basis, Versana provides unprecedented transparency into corporate loan level details and portfolio positions, bringing efficiency and velocity to the entire asset class. Through our centralized platform, participants can rest assured they are accessing the loan market's most credible source of deal information. With the support of our investors, Versana is fast becoming the technology of choice to usher in the long-awaited modernization of the syndicated loan market. For more information, visit versana.io.
Media Contact
Michael Kingsley
Forefront Communications for Versana
[email protected]
(914) 522-9471
SOURCE Versana
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