Citibank Announces $2.0 Billion Redemption of 2.100% Notes due June 2020
April 27 2020 - 4:15PM
Business Wire
Citibank, N.A. is announcing the redemption, in whole,
constituting $2,000,000,000 in aggregate principal amount, of its
2.100% Notes due June 2020 (the “notes”) (ISIN: US17325FAE88).
The redemption date for the notes is May 12, 2020. The cash
redemption price payable for the notes on the redemption date 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.
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi 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.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20200427005796/en/
Media: Jennifer Lowney, (212) 793-3141 Investors: Elizabeth
Lynn, (212) 559-2718 Fixed Income Investors: Thomas Rogers, (212)
559-5091
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