Tags: US | Citigroup | Debt | Buyback

Citigroup Offers to Buy Back $1.1 Billion in Old Notes

Friday, 23 Apr 2010 11:23 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Citigroup Inc. on Friday offered to buy back $1.1 billion worth of notes coming due later this year and in early 2011, in a move to reduce its interest payments.

The New York bank said the repurchase won't reduce its Tier 2 capital — a measure of its financial strength — because all of the debt is within one year of maturity. In February 2010, Citigroup completed the repurchase of $3.02 billion worth of senior debt.

The company is offering to buy back:

— 6.6 percent subordinated fixed-rate notes due Sept. 15.

— 7.25 percent subordinated notes due 2010.

— 6.5 percent subordinated fixed-rate notes due Dec. 1.

— 6.65 percent subordinated notes due Dec. 15.

— 6.49 percent subordinated notes due Jan. 11.

— 6.5 percent subordinated notes due Feb. 15 and

— Deutsche mark-demoninated 5.5 percent subordinated notes due June 30, 2010.

The bank said it will pay cash for any and all of the notes, with the offer expiring at 5 p.m. EDT on May 6. Its Citigroup Global Markets Inc. affiliate will serve as the dealer manager for the offers.

In morning trading, Citigroup shares added 5 cents to $4.92.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mitch McConnell Lays Out Plan to Roll Back Obama's Agenda

Thursday, 28 Aug 2014 06:51 AM

A Republican-controlled Congress would use the power of the purse to overturnPresident Barack Obama's policies, Senate M . . .

Report: Florida Dixiecrats Less Impressed With Charlie Crist

Wednesday, 27 Aug 2014 22:41 PM

Republican-turned-independent-turned-Democrat Charlie Crist handily won Florida's Democratic primary Tuesday against Nan . . .

Florida's Gov. Scott Has Slight Edge Over Crist

Wednesday, 27 Aug 2014 22:09 PM

With the nominations of Florida Gov. Rick Scott and Republican-turned-Independent-turned-Democrat former Gov. Charlie Cr . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved