By Cristal Cody
Eureka Springs, Ark., July 26 – Citigroup, Inc. priced $2.5 billion of five-year notes (Baa1/BBB+/A) in two tranches on Tuesday, according to a market source.
The company sold $750 million of floating-rate notes at Libor plus 119 basis points.
A $1.75 billion tranche of 2.35% fixed-rate notes priced with a spread of 123 bps over Treasuries, tighter than initial guidance in the Treasuries plus 135 bps area.
Citigroup Global Markets Inc. was the bookrunner.
Citigroup is a financial services company based in New York.
| Issuer: | Citigroup, Inc.
|
| Amount: | $2.5 billion
|
| Description: | Notes
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Trade date: | July 26
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A
|
|
|
| Five-year floaters
|
| Amount: | $750 million
|
| Maturity: | Aug. 2, 2021
|
| Coupon: | Libor plus 119 bps
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | Aug. 2, 2021
|
| Coupon: | 2.35%
|
| Spread: | Treasuries plus 123 bps
|
| Price guidance: | Treasuries plus 135 bps area
|
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