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Citigroup sets initial talk on benchmark-sized three-year notes
By Andrea Heisinger
New York, July 18 - Citigroup Inc. is set to price a benchmark-sized offering of three-year notes (Baa2/A-/) in Thursday's market, an informed source said.
Initial price talk is in the Treasuries plus 125 basis points area.
There may also be a tranche of floating-rate notes, with guidance at an equivalent spread over Libor, the source said.
The bookrunner is Citigroup Global Markets Inc.
New York-based financial services company Citigroup was last in the U.S. bond market with a $1.25 billion offering of 10-year notes on May 7. Citi last brought a three-year maturity in a $1.5 billion, two-tranche sale on March 22 that included a 1.3% fixed-rate note sold at 96 bps over Treasuries.
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