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 This material may not be published, broadcast, rewritten or redistributed.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:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Christie Pension Battle Called a Test for 2016

Sunday, 27 Jul 2014 22:30 PM

New Jersey Gov. Chris Christie's push for more reform of public pensions may put him to the test as he considers a 2016  . . .

Rick Perry: Guardsmen Needed at Border to Handle Criminals

Sunday, 27 Jul 2014 12:24 PM

National Guardsmen are needed along the border with Mexico to deter and detain criminals, Texas Gov. Rick Perry told the . . .

Ted Cruz Blames Democrats for Capitol Hill Gridlock

Saturday, 26 Jul 2014 17:06 PM

Sen. Ted Cruz slammed President Barack Obama and the Democrats for the gridlock that has paralyzed Congress.
"It s . . .

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