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Citi Returns to Texas Muni Market After GOP Sought Ouster (1)

Dec. 14, 2021, 7:22 PM

Citigroup Inc.’s return to underwriting municipal-bonds in Texas signals the limits of a partisan law passed earlier this year that sought to punish Wall Street banks for their gun policies.

A $26 million school bond underwritten by Citigroup in November closed on Tuesday after Republican Attorney General Ken Paxton approved the sale, according to a letter from his office about the deal provided by the Alamo Heights Independent School District just north of San Antonio.

The bank joined other major firms in pulling back from municipal-bond underwriting in the state after the GOP law went into effect Sept. 1. ...