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Citigroup talks offering of fixed-to-floaters due 2041 at Treasuries plus 350 bps area
By Cristal Cody
Tupelo, Miss., March 19 – Citigroup Inc. plans fixed-to-floating rate senior notes due March 26, 2041 (A3/BBB+/A) on Thursday, according to a market source and a 424B2 filing with the Securities and Exchange Commission.
Initial price talk is in the Treasuries plus 350 basis point area.
After the initial fixed-rate period, the notes will convert to a floating rate with the SOFR benchmark.
Citigroup Global Markets Inc. is the bookrunner.
The New York-based financial services company plans to use the proceeds for general corporate purposes.
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