Citigroup to Repurchase HK$1.06 Billion of Lehman Notes
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Citigroup Inc. agreed to repurchase HK$1.06 billion ($136 million) of notes linked to Lehman Brothers Holdings Inc. in Hong Kong, according to a statement from the Hong Kong Securities and Futures Commission today.
Citigroup’s offer covers about 92 percent of customers holding the outstanding notes, it said. The bank will pay 80 percent of the value of each customer’s investment, according to the statement.