Citigroup's tender offer is for up to €600 million subordinated notes

By Angela McDaniels

Tacoma, Wash., April 18 - Citigroup Inc. is offering to buy back up to €600 million principal amount of subordinated notes in its tender offer, according to a market source.

As previously reported, the offer is for the company's €800 million of 3.625% fixed-fate/floating-rate callable subordinated notes due November 2017 and €1.25 billion of 4.25% fixed-rate/floating-rate callable subordinated notes due February 2030.

The company expects the offer to be open until 11 a.m. ET on May 2, according to an 8-K filing made with the Securities and Exchange Commission on Wednesday.

The offer is being made to holders located or resident outside the United States. It is not being made in the United States.

Citigroup is a financial services company based in New York.

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