Two special-purpose corporations created by Citicorp to promote its asset-based lending are preparing to issue up to $3.5 billion in medium-term notes in the private placement market.

Until now, the financing units -- Ciesco L.P. and Corporate Asset Funding Co., or Cafco -- have relied solely on commercial paper to fund the short-term assets that they buy from customers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.