Citigroup, BofA Leading $11.3 Billion of Dollar Bond Offerings
Citigroup sold $1.5 billion of 1.7 percent, three-year debt to yield 112 basis points more than similar-maturity Treasuries and $1 billion of floating-rate, three-year notes to yield 96 basis points more than the three-month London interbank offered rate, according to data compiled by Bloomberg.
Other borrowers in the third-busiest day for sales in the U.S. this month include Kroger Co., the largest U.S. grocer, selling $1 billion of notes and Melbourne-based National Australia Bank Ltd. offering $2.6 billion of bonds in three parts, Bloomberg data show.
Citigroup’s $1.35 billion of 1.75 percent debentures due May 2018 traded yesterday at 96.5 cents on the dollar to yield 2.54 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
Bank of America’s $4.25 billion of 3.3 percent notes due in January 2023 traded yesterday at 95 cents on the dollar to yield 3.94 percent, Trace data show. The bank reported net income of $4.01 billion in the second quarter, a 63 percent increase, the lender said yesterday in a statement.
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