Citibank Announces $1.3 Billion Redemption of 2.850% Notes due February 2021 and $1.25 Billion Redemption of Floating Rate Notes due February 2021
Citibank, N.A. is announcing the redemption, in whole, constituting $1,300,000,000 in aggregate principal amount, of its 2.850% Notes due February 2021 (the “FXD notes”) (ISIN: US17325FAL22), and the redemption, in whole, constituting $1,250,000,000 in aggregate principal amount, of its Floating Rate Notes due February 2021 (the “FRN notes”, and together with the FXD notes, the “notes”) (ISIN: US17325FAM05).
The redemption date for the notes is January 12, 2021. The
cash redemption price payable for the notes on January 12, 2021 will equal par
plus accrued and unpaid interest. The redemption announced today is consistent
with Citibank’s liability management strategy, and reflects its ongoing efforts
to enhance the efficiency of its funding and capital structure. Citibank will
continue to consider opportunities to redeem or repurchase securities, based on
several factors, including without limitation, the economic value, regulatory
changes, potential impact on Citibank’s net interest margin and borrowing
costs, the overall remaining tenor of Citibank’s debt portfolio, capital
impact, as well as overall market conditions.
Beginning on the redemption date, the notes will no longer
be outstanding and interest will no longer accrue on such securities.
Citibank, N.A. is the paying agent for the notes.
Citigroup, the leading global bank, has approximately 200
million customer accounts and does business in more than 160 countries and
jurisdictions. Citigroup provides consumers, corporations, governments and
institutions with a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking, securities brokerage,
transaction services, and wealth management.
0 comments:
Post a Comment