Citigroup calls two series of fixed-to-floaters for April redemption

By Susanna Moon

Chicago, March 6 – Citigroup Inc. plans to redeem S$100 million of its 3.5% fixed-to-floating rate subordinated notes due April 2020 and CHF 182,115,000 of its 2.75% fixed-to-floating rate callable subordinated notes due April 2021.

The redemption date will be April 9 for the 2020 notes and April 6 for the 2021 notes.

The cash redemption price will be par plus accrued interest.

The redemptions “are consistent with Citigroup's liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure,” according to a company announcement.

Citigroup said it redeemed or retired $28.7 billion of its securities since 2015 and will continue to look for opportunities to redeem or repurchase securities.

Citibank, NA is the paying agent for the 2020 notes.

Citigroup is a financial services company 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.