By Cristal Cody
Tupelo, Miss., April 18 – Citigroup, Inc. priced $4.5 billion in three tranches of notes (Baa1/BBB+/A) on Tuesday, according to a market source.
The company sold $1.25 billion of five-year floating-rate notes at Libor plus 96 basis points.
Citigroup priced $2.25 billion of 2.75% five-year fixed-rate notes at a spread of Treasuries plus 107 bps.
Citigroup placed a $1 billion tranche of 4.281% 31-year fixed-to-floating-rate notes at a spread of 145 bps over Treasuries.
Citigroup Global Markets Inc. was the bookrunner.
Citigroup is a financial services company based in New York.
| Issuer: | Citigroup, Inc.
|
| Amount: | $4.5 billion
|
| Description: | Floating-rate, fixed-rate and fixed-to-floating-rate notes
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Trade date: | April 18
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A
|
|
|
| Five-year floaters
|
| Amount: | $1.25 billion
|
| Maturity: | April 25, 2022
|
| Coupon: | Libor plus 96 bps
|
|
|
| Five-year notes
|
| Amount: | $2.25 billion
|
| Maturity: | April 25, 2022
|
| Coupon: | 2.75%
|
| Spread: | Treasuries plus 107 bps
|
|
|
| 31-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2048
|
| Coupon: | 4.281% initially; converts later to a floating rate
|
| Spread: | Treasuries plus 145 bps
|
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