By Cristal Cody
Tupelo, Miss., May 11 – Citigroup Inc. (Baa1/BBB+/A) priced $1.5 billion of seven-year floating-rate notes on Thursday at par to yield Libor plus 110 basis points, according to a market source.
The notes priced on the tight side of guidance in the Libor plus 115 bps area, plus or minus 5 bps.
The deal saw strong demand with a final book size of $2.8 billion.
Citigroup Global Markets Inc. was the bookrunner.
The notes are non-callable for six years.
Citigroup is a financial services company based in New York.
| Issuer: | Citigroup Inc.
|
| Amount: | $1.5 billion
|
| Description: | Floating-rate notes
|
| Maturity: | May 17, 2024
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Coupon: | Libor plus 110 bps
|
| Price: | Par
|
| Yield: | Libor plus 110 bps
|
| Call feature: | Non-callable six years
|
| Trade date: | May 11
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A
|
| Price guidance: | Libor plus 115 bps area, plus or minus 5 bps
|
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