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.
