Published on 4/7/2008 in the Prospect News Investment Grade Daily.
New Issue: Citigroup adds $250 million to five-year note issue
By Andrea Heisinger
Omaha, April 7 - Citigroup Inc. priced a $250 million add-on on Monday to its issue of five-year senior notes, market sources said.
The notes were added to $4.5 billion priced Friday, bringing total issuance to $4.75 billion.
The 5.5% add-on notes (Aa3/AA-/AA) priced at 99.312 to yield 5.66%, or Treasuries plus 290 basis points. They can be redeemed only for tax purposes.
The original issue priced at Treasuries plus 300 bps.
Citigroup Global Markets Inc. was the bookrunner.
Co-managers were Bear, Stearns & Co. Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., Lehman Brothers Inc., Banc of America Securities LLC, Blaylock Robert Van, LLC, Credit Suisse Securities (USA) LLC, Loop Capital Markets, LLC, Greenwich Capital Markets, Inc. and UBS Securities LLC.
The investment bank is based in New York City.
| Issuer: | Citigroup Inc.
|
| Issue: | Senior notes
|
| Amount: | $4.75 billion
|
| Maturity: | April 11, 2013
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Co-managers: | Bear, Stearns & Co. Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., Lehman Brothers Inc., Banc of America Securities LLC, Blaylock Robert Van, LLC, Credit Suisse Securities (USA) LLC, Loop Capital Markets, LLC, Greenwich Capital Markets, Inc., UBS Securities LLC
|
| Settlement date: | April 11
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
|
|
| Original tranche
|
| Amount: | $4.5 billion
|
| Maturity: | April 11, 2013
|
| Coupon: | 5.5%
|
| Price: | 99.492
|
| Yield: | 5.618%
|
| Spread: | Treasuries plus 300 bps
|
| Call: | Only for tax purposes
|
| Trade date: | April 4
|
|
|
| Add-on tranche
|
| Amount: | $250 million
|
| Coupon: | 5.5%
|
| Price: | 99.312
|
| Yield: | 5.66%
|
| Spread: | Treasuries plus 290 bps
|
| Call: | Only for tax purposes
|
| Trade date: | April 7
|
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