| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders 2012 > News item |
Citigroup gets tenders for $570 million notes, sets clearing spreads
By Susanna Moon
Chicago, Aug. 9 - Citigroup Inc. said it plans to repurchase the equivalent of about $570 million of notes tendered in the offer for its notes denominated in British pounds sterling and notes denominated in Swiss francs.
The clearing spread over the relevant benchmark rate was set at 250 basis points for the 2018 sterling notes and at the relevant maximum purchase spread for the 2019, 2030 and 2038 sterling notes.
The breakdown for the tendered amounts, along with the benchmark rate and clearing spreads, is as follows:
• £181 million of £750 million 7.625% fixed-rate notes due 2018 (£679,149,000 outstanding) based on the 5% U.K. Treasury gilt due March 2018 plus 250 bps;
• £37 million of £225 million 6.25% senior notes due 2019 (£213,452,000 outstanding) based on the 4.5% U.K. Treasury gilt due March 2019 plus 275 bps;
• £26 million of the £400 million 6.5% senior notes due 2030 (£291,088,000 outstanding) based on the 4.75% U.K. Treasury gilt due December 2030 plus 230 bps;
• £84 million of the £800 million 6.8% senior notes due 2038 (£619,613,000 outstanding) based on the 4.75% U.K. Treasury gilt due December 2038 plus 230 bps; and
• CHF 54 million of 3% fixed-rate senior notes due 2019 (CHF 400 million outstanding) using the interpolated mid-swap rate plus 220 bps.
Pricing will be set at 9 a.m. ET on Aug. 9. The offers expired at 11 a.m. ET on Aug. 8 and were announced on Aug. 1. Settlement is set for Aug. 14.
Citigroup Global Markets Ltd. (attn.: liability management group, +44 20 7986 8969 or email liabilitymanagement.europe@citi.com) is the dealer manager, and Citibank, NA, London Branch (attn.: exchange team, +44 20 7508 3867 or email exchange.gats@citi.com) is the tender agent.
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.