By Aleesia Forni
Virginia Beach, April 22 – Citigroup Inc. was in Wednesday’s market with a $5 billion issue of senior notes (Baa2/A-/A) in three tranches due 2017 and 2025, according to a market source.
There was a $1 billion three-year floater priced to yield Libor plus 69 basis points.
A $2.5 billion 1.7% three-year note sold with a spread of Treasuries plus 92 bps.
The notes sold at the tight end of guidance set in the 95 bps area over Treasuries.
Finally, $1.5 billion of 3.3% 10-year notes sold at Treasuries plus 135 bps.
Pricing was at the tight end of guidance set in the 140 bps area.
Citigroup Global Markets Inc. was the bookrunner.
Citigroup is based in New York.
| Issuer: | Citigroup Inc.
|
| Issue: | Senior otes
|
| Amount: | $5 billion
|
| Bookrunner: | Citigroup Global Markets Inc.
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| Trade date: | April 22
|
| Settlement date: | April 27
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: A-
|
| Fitch: A-
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | April 27, 2018
|
| Coupon: | Libor plus 69 bps
|
| Price guidance: | Libor equivalent to three-year notes
|
|
|
| Three-year notes
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| Amount: | $2.5 billion
|
| Maturity: | April 27, 2018
|
| Coupon: | 1.7%
|
| Spread: | 92 bps
|
| Price guidance: | 95 bps area, tightened from low-100 bps area
|
|
|
| 10-year notes
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| Amount: | $1.5 billion
|
| Maturity: | April 27, 2025
|
| Coupon: | 3.3%
|
| Spread: | 135 bps
|
| Price guidance: | 140 bps area, tightened from 150 bps area
|
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