Published on 6/6/2018 in the Prospect News Investment Grade Daily.
New Issue: Citigroup prices $650 million of eight-year floating-rate notes at Libor plus 125 bps
By Devika Patel
Knoxville, Tenn., June 6 – Citigroup Inc. sold $650 million of eight-year floating-rate notes (Baa1/BBB+/A) on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The notes, sold at par, accrue interest at a floating rate of Libor plus 125 basis points.
Citigroup Global Markets Inc. was the bookrunner.
Citigroup is a financial services company based in New York.
| Issuer: | Citigroup Inc.
|
| Amount: | $650 million
|
| Description: | Floating-rate notes
|
| Maturity: | July 1, 2026
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Senior co-managers: | BNY Mellon Capital Markets LLC, Capital One Securities, Inc., Commerzbank Capital Markets Corp., Credit Suisse Securities (USA) LLC, Lloyds Securities Inc., Santander Investment Securities Inc., UBS Securities LLC and Williams Capital Group LP
|
| Junior co-managers: | ANZ Securities, Inc., Bank of China Ltd., London Branch, Blaylock Robert Van, LLC, BMO Capital Markets Corp., C.L. King & Associates, Inc., CastleOak Securities LP, Citizens Capital Markets, Inc., Danske Markets Inc., Fifth Third Securities Inc., HSBC Securities (USA) Inc., Industrial and Commercial Bank of China (Asia) Ltd., ING Financial Markets LLC, Mizuho Securities USA Inc., MUFG, Rabo Securities USA, Inc., RBC Capital Markets Corp., Samuel A. Ramirez & Co. Inc., Scotia Capital (USA) Inc., Siebert Capital Markets, SMBC Nikko Securities America, Inc., Standard Chartered Bank, TD Securities (USA) LLC, UniCredit Capital Markets LLC and Westpac Capital Markets, LLC
|
| Coupon: | Libor plus 125 bps
|
| Price: | Par
|
| Yield: | Libor plus 125 bps
|
| Call: | On July 1, 2025 at par; on or after June 1, 2026 at par
|
| Trade date: | June 5
|
| Settlement date: | June 12
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A
|
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