Published on 12/4/2008 in the Prospect News Investment Grade Daily.
New Issue: Citigroup adds $250 million to FDIC-backed two-year floaters to total $1.25 billion
By Andrea Heisinger
New York, Dec. 4 - Citigroup Inc. added to its tranche of two-year floating-rate notes backed by the Federal Deposit Insurance Corp. Temporary Liquidity Program, according to an FWP filing with the Securities and Exchange Commission.
The tranche of notes (Aaa/AAA/AAA) was upsized by $250 million. Total issuance is now $1.25 billion including $1 billion priced Dec. 2.
The non-callable notes priced at par to yield three-month Libor plus 55 basis points.
Citigroup Global Markets was the bookrunner.
Joint lead managers were Banc of America Securities LLC, Goldman Sachs & Co., RBS Greenwich Capital Markets, J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
Co-managers were Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Samuel A. Ramirez & Co, Inc., RBC Capital Markets Corp., SBK-Brooks Investment Corp., TD Securities (USA) LLC, Toussaint Capital Partners, LLC, UBS Securities LLC and Utendahl Capital Group, LLC.
The financial services company is based in New York City.
| Issuer: | Citigroup Inc.
|
| Guarantor: | Federal Deposit Insurance Corp.
|
| Issue: | FDIC-guaranteed notes
|
| Amount: | $250 million addition
|
| Maturity: | Dec. 9, 2010
|
| Bookrunner: | Citigroup Global Markets
|
| Joint lead managers: | Banc of America Securities LLC, Goldman Sachs & Co., RBS Greenwich Capital Markets, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
|
| Co-managers: | Barclays Capital Inc., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Samuel A. Ramirez & Co, Inc., RBC Capital Markets Corp., SBK-Brooks Investment Corp., TD Securities (USA) LLC, Toussaint Capital Partners, LLC, UBS Securities LLC, Utendahl Capital Group, LLC
|
| Coupon: | Three-month Libor plus 55 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 55 bps
|
| Call: | Non-callable
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Total issuance: | $1.25 billion, including $1 billion priced Dec. 2
|
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