Citigroup to sell floaters, fixed-to-floaters in two parts due 2026

By Devika Patel

Knoxville, Tenn., Jan. 18 – Citigroup Inc. will conduct a two-tranche offering of green fixed-to-floating rate notes and green floating-rate notes, according to 424B2 filings with the Securities and Exchange Commission.

The fixed-to-floaters due January 2026 will initially have a fixed coupon until January 2025 and then an interest rate based on SOFR. The floaters, also due January 2026, will accrue interest at a rate based on SOFR.

The fixed-to-floaters have a make-whole call until December 2025 and then a par call. The floaters are callable at par plus interest in January 2025 and on or after December 2025.

Citigroup Global Markets Inc. is the bookrunner.

Proceeds will be used to finance or refinance affordable housing assets.

The financial services company is based in New York.

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