By Cristal Cody
Eureka Springs, Ark., June 2 – Citigroup Inc. sold $3 billion in three tranches of notes (Baa1/BBB+/A) on Thursday, according to a market source.
Citigroup priced $1 billion of three-year floating-rate notes at Libor plus 93 basis points.
The company sold $1 billion of 2.05% three-year fixed-rate notes on top of guidance at Treasuries plus 105 bps.
In the final tranche, Citigroup priced a $1 billion add-on to its 2.7% notes due March 30, 2021 in line with guidance at a spread of 125 bps over Treasuries. Citigroup originally sold $1.5 billion of the notes on March 22 at 133 bps over Treasuries. The total outstanding is $2.5 billion.
Citigroup Global Markets Inc. was the bookrunner.
Citigroup is a financial services company based in New York.
| Issuer: | Citigroup Inc.
|
| Amount: | $3 billion
|
| Securities: | Notes
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Pricing date: | June 2
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | June 7, 2019
|
| Coupon: | Libor plus 93 bps
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | June 7, 2019
|
| Coupon: | 2.05%
|
| Spread: | Treasuries plus 105 bps
|
| Price guidance: | Treasuries plus 105 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion reopening
|
| Maturity: | March 30, 2021
|
| Coupon: | 2.7%
|
| Spread: | Treasuries plus 125 bps
|
| Price guidance: | Treasuries plus 125 bps
|
| Total outstanding: | $2.5 billion, including $1.5 billion priced on March 22, 2016 at 133 bps over Treasuries
|
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