Citadel A Debt Pioneer

Nov 28 2006 | 3:14pm ET

Citadel Investment Group isn’t collapsing. It’s just taking on debt.

In what is being called the first deal of its kind, Citadel is to raise $2 billion with an offering of medium-term unsecured notes, according to Fitch Ratings. The Chicago-based firm, with some $13 billion in assets under management, is also the first hedge fund firm to receive a Fitch debt rating, in this case triple-B-plus, making the investment-grade cut, if only barely.

The debt will be sold through a private placement, so the bonds will not be registered with the Securities and Exchange Commission. Lehman Brothers and Goldman Sachs are leading the sale.


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With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.