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Citigroup gets tenders for $267.95 million of 6.125% notes in offer
By Angela McDaniels
Tacoma, Wash., Sept. 22 – Citigroup Inc. received tenders for $267,946,000 principal amount, or 6.93%, of its $3,865,935,000 of outstanding 6.125% notes due 2017, according to a company news release.
As previously reported, the company offered to buy back up to $700 million principal amount of the notes. The tender offer began Aug. 22 and ended at 11:59 p.m. ET on Sept. 19.
For each $1,000 principal amount, the company will pay $1,131.72, which includes an early tender premium of $30.00 for notes tendered by 5 p.m. ET on Sept. 5, the early tender deadline.
The company also will pay accrued interest up to but excluding the settlement date, Sept. 24.
Pricing was set at 2 p.m. ET on Sept. 8 using the yield to maturity of the bid-side price of the 0.875% Treasury note due Aug. 15, 2017 plus a fixed spread of 82 basis points. The reference yield was 0.994%.
Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) is the dealer manager. Global Bondholder Services Corp. (866 807-2200 or 212 430-3774) is the depositary and information agent.
Citigroup is a financial services company based in New York City.
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