By Andrea Heisinger
New York, Jan. 3 - Citigroup Inc. priced $2.5 billion of 4.45% five-year notes on Tuesday to yield Treasuries plus 360 basis points, a source close to the trade said.
The debt sold tighter than initial guidance in the 375 bps area, the source said.
The notes (A3/A-/A+) were priced at 99.863 to yield 4.481%. The paper is non-callable.
Citigroup Global Markets Inc. was the bookrunner.
Citi last sold 3.953% five-year debt at 200 bps over Treasuries in a $1.875 billion sale on June 8, 2011.
The financial services company is based in New York City.
| Issuer: | Citigroup Inc.
|
| Issue: | Notes
|
| Amount: | $2.5 billion
|
| Maturity: | Jan. 10, 2017
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Coupon: | 4.45%
|
| Price: | 99.863
|
| Yield: | 4.481%
|
| Spread: | Treasuries plus 360 bps
|
| Call: | Non-callable
|
| Trade date: | Jan. 3
|
| Settlement date: | Jan. 10
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Price talk: | 375 bps area
|
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