By Marisa Wong and Cristal Cody
Los Angeles, Feb. 17 – Citigroup, Inc. priced $3 billion of senior notes in two parts, according to a market source.
Citigroup priced $500 million of floating-rate notes due Feb. 24, 2028 at par to yield SOFR plus 128 basis points.
Citigroup also priced $2.5 billion of 3.07% fixed-to-floating rate notes due Feb. 24, 2028 at par to yield Treasuries plus 115 bps. The interest rate resets to SOFR plus 128 bps.
Both tranches are non-callable for five years.
Citigroup Global Markets Inc. is the bookrunner.
The investment bank and financial services company is based in New York.
| Issuer: | Citigroup Inc.
|
| Amount: | $3 billion
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| Issue: | Senior notes
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| Maturity: | Feb. 24, 2028
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| Bookrunner: | Citigroup Global Markets Inc.
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| Call option: | Non-callable for five years
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|
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| Floaters
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| Amount: | $500 million
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| Issue: | Floating-rate notes
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| Coupon: | SOFR plus 128 bps
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| Price: | Par
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| Yield: | SOFR plus 128 bps
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|
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| Fixed-to-floaters
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| Amount: | $2.5 billion
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| Issue: | Fixed-to-floating rate notes
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| Coupon: | 3.07%, resets to SOFR plus 128 bps
|
| Price: | Par
|
| Spread: | Treasuries plus 115 bps
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