By Aleesia Forni
New York, Dec. 1 – Citigroup Inc. priced on Tuesday a $2 billion offering of three-year fixed- and floating-rate notes (Baa1/A-/A), according to a market source.
A $1.65 billion 2.05% tranche of notes sold at 99.986 to yield 2.055%, or Treasuries plus 87.5 basis points.
The notes were guided in the 90 bps area over Treasuries and initially talked in the Treasuries plus 100 bps area.
A $350 million floating-rate piece sold at par to yield Libor plus 86 bps. Talk was at the Libor equivalent to the fixed-rate tranche.
Citigroup Global Markets Inc. is the bookrunner.
The financial services company is based in New York.
| Issuer: | Citigroup Inc.
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Trade date: | Dec. 1
|
| Settlement date: | Dec. 7
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: A-
|
| Fitch: A
|
|
|
| Three-year notes
|
| Amount: | $1.65 billion
|
| Maturity: | Dec. 7, 2018
|
| Coupon: | 2.05%
|
| Price: | 99.986
|
| Yield: | 2.055%
|
| Spread: | Treasuries plus 87.5 bps
|
| Price guidance: | Treasuries plus 90 bps area, tightened from 100 bps area
|
|
|
| Three-year floaters
|
| Amount: | $350 million
|
| Maturity: | Dec. 7, 2018
|
| Coupon: | Libor plus 86 bps
|
| Price: | Par
|
| Yield: | Libor plus 86 bps
|
| Price guidance: | Libor equivalent to fixed-rate notes
|
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