By Aleesia Forni
Virginia Beach, Oct. 19 – Citigroup Inc. priced on Monday a $3 billion offering of five-year fixed- and floating-rate notes (Baa1/A-/A), according to a market source.
A $2.7 billion 2.65% tranche of notes sold at 99.888 to yield 2.674%, or Treasuries plus 133 basis points.
The issue sold tighter than talk set in the Treasuries plus 145 bps area.
A $300 million floating-rate piece sold at par to yield Libor plus 131 bps. Talk was at the Libor equivalent to the fixed-rate tranche.
Citigroup Global Markets Inc. is the bookrunner.
The financial services company is based in New York.
| Issuer: | Citigroup Inc.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Trade date: | Oct. 19
|
| Settlement date: | Oct. 26
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: A-
|
| Fitch: A
|
|
|
| Five-year notes
|
| Amount: | $2.7 billion
|
| Maturity: | Oct. 26, 2020
|
| Coupon: | 2.65%
|
| Price: | 99.888
|
| Yield: | 2.674%
|
| Spread: | Treasuries plus 133 bps
|
| Price guidance: | Treasuries plus 140 bps area
|
|
|
| Five-year floaters
|
| Amount: | $300 million
|
| Maturity: | Oct. 26, 2020
|
| Coupon: | Libor plus 131 bps
|
| Price: | Par
|
| Yield: | Libor plus 131 bps
|
| Price guidance: | Libor equivalent to fixed-rate notes
|
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