The Wall Street Journal report a curious item - nearly $1bn paid out by mistake by Citi.
- Citigroup Inc. paid nearly $900 million by mistake to Revlon Inc. lenders and is asking for the money to be returned, according to people familiar with the matter.
- Lenders that sued Revlon on Wednesday over its debt-restructuring tactics were surprised to learn Thursday they had been fully repaid on a loan issued in 2016, these people said.
- Citi executives were soon asking for the money back, saying it was paid inadvertently due to a clerical error, they said.
Link here for more info (may be gated)
Revlon likely blowing kisses to the bank right now.
I'm sending my account details to Citi now. You never know, right?
