Citigroup calls €1.07 billion 4.75% fixed-to-floating notes due 2017

By Marisa Wong

Morgantown, W.Va., July 28 – Citigroup Inc. announced it will redeem in whole its €1,067,166,000 4.75% fixed-to-floating callable subordinated notes due May 2017.

The notes will be redeemed on Aug. 31 at par plus €360,968.90 of accrued interest.

The redemption is consistent with Citigroup’s liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure, the company said in a news release.

Since 2014, Citigroup redeemed or retired $31.8 billion of its securities, reducing its overall funding costs.

Citibank, NA and Dexia Banque Internationale a Luxembourg, SA are the paying agents for the 4.75% notes.

The financial services company is based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.