By Sheri Kasprzak
New York, Dec. 2 - Citigroup Global Markets Inc. sold $1.875 billion in senior remarketing notes, according to a term sheet.
The 6.01% notes (A3/A/A+), which are due 2015, were originally issued as 6.32% junior subordinated deferrable interest debentures in December 2007 as part of the sale of Upper DECS Equity Units by Citigroup Capital XXIX. The original notes were due March 15, 2041.
The non-callable notes were priced at 101.87 to yield 5.582%. The spread was 350 basis points over Treasuries.
Citigroup was the bookrunner for the sale.
Citigroup is a financial services company based in New York.
| Issuer: | Citigroup Global Markets Inc.
|
| Issue: | Senior remarketing notes
|
| Amount: | $1.875 billion
|
| Maturity: | 2015
|
| Bookrunner: | Citigroup
|
| Coupon: | 6.01%
|
| Price: | 101.87
|
| Yield: | 5.582%
|
| Spread: | Treasuries plus 350 bps
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Pricing date: | Dec. 2
|
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