By Marisa Wong and Cristal Cody
Los Angeles, Nov. 28 – Citibank, NA priced $2.5 billion of senior bank notes (Aa3/A+) in two parts on Monday, according to a market source.
Citibank priced $500 million of floating-rate notes due Dec. 4, 2026 at SOFR plus 106 basis points.
The second part consisted of $2 billion of 5.488% notes due Dec. 4, 2026 priced with a spread of 87.5 bps over Treasuries. Initial price talk was in the Treasuries plus 105 bps area.
Citigroup Global Markets Inc. is the bookrunner.
Citibank is a New York-based commercial and consumer banking products and services company.
| Issuer: | Citibank, NA
|
| Amount: | $2.5 billion
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| Issue: | Senior bank notes
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| Maturity: | Dec. 4, 2026
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| Bookrunner: | Citigroup Global Markets Inc.
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| Pricing date: | Nov. 27
|
| Ratings: | Moody’s: Aa3
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| S&P: A+
|
|
|
| Floaters
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| Amount: | $500 million
|
| Coupon: | SOFR plus 106 bps
|
| Initial price talk: | SOFR plus an equivalent spread
|
|
|
| Fixed-rate notes
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| Amount: | $2 billion
|
| Coupon: | 5.488%
|
| Spread: | Treasuries plus 87.5 bps
|
| Initial price talk: | Treasuries plus 105 bps area
|
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