Citigroup (C) looks to offload $500M of credit risk associated with loans to foreign shipping...

|About: Citigroup Inc. (C)|By:, SA News Editor

Citigroup (C) looks to offload $500M of credit risk associated with loans to foreign shipping companies. The bank is offering investors annual coupons of 13-15% to assume the risk. If you think this sounds like a synthetic CDO you'd be right. Investors' insatiable appetite for yield is creating demand for the securities for the first time since the crisis. (Previously: CLO issuance rises anew)