David Livingstone

Group Managing Director

In his 34-year tenure at Citigroup, David Livingstone has assisted corporate clients and state and local governments raise more than $40 billion of tax-exempt and taxable bonds and equity for infrastructure projects primarily on a project finance basis. He is specialist in financing waste-to-value projects. Additionally, he has financed a wide variety of asset classes, including petrochemical facilities; rail and transit; public and private toll roads and managed lanes; waste-to-energy facilities fueled with animal waste, organic waste, waste coal, municipal solid waste, tires and wood waste; airports; hotels and water and wastewater treatment plants. He was lead banker for many noteworthy projects including:

• $867 million in May and August 2016 and November 2018 for Natgasoline LLC, the largest methanol production facility in the US. Citi replaced another underwriter, who was unable to complete the financing.

• $1.3 billion in May 2013 and March 2019 for Iowa Fertilizer Company, a world scale nitrogen fertilizer production facility which is the first new fertilizer facility constructed in the US in more than 20 years and, when issued, was the largest non-investment grade financing ever completed in the tax-exempt market. The offering was awarded Project Finance’s North America Petrochemicals Deal of the Year.

• $302 million in May 2017 and July 2019 for CalPlant, the first rice straw to medium density fiberboard project in the world. Citi was hired after another underwriter was unable to complete the financing.

He is well familiar with tax, accounting, credit and other issues related to financing facilities on a project finance basis. David has a BS degree in Civil Engineering from Brown University and was a registered Professional Engineer.