By Andrea Heisinger
New York, Jan. 19 - Citigroup Inc. priced $1 billion of 5.875% 30-year senior bonds on Thursday at a spread of Treasuries plus 297 basis points, a source close to the trade said.
The debt was sold tighter than guidance, which was in the 305 bps area, the source said.
The notes (A3/A-/A) were priced at 98.543 to yield 5.985%. They are non-callable.
Citigroup Global Markets Inc. was the bookrunner.
Citi last sold 30-year debt in a $2.5 billion deal of 8.125% bonds priced at 380 bps over Treasuries on July 20, 2009. The bank last accessed the debt market with a $2.5 billion sale of 4.45% five-year paper priced at 360 bps over Treasuries on Jan. 3.
The financial services company is based in New York City.
| Issuer: | Citigroup Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 30, 2042
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Coupon: | 5.875%
|
| Price: | 98.543
|
| Yield: | 5.985%
|
| Spread: | Treasuries plus 297 bps
|
| Call: | Non-callable
|
| Distribution: | Off shelf
|
| Trade date: | Jan. 19
|
| Settlement date: | Jan. 26
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Price talk: | 305 bps area
|
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