Citigroup Sells $1.5 Billion of Bonds With Fixed, Floating RatesMatt Robinson and Sarika Gangar
Citigroup Inc., the third-largest U.S. lender by assets, sold $1.5 billion of three-year bonds in a two-part sale.
The bank raised $850 million of 1.3 percent notes to yield 96 basis points more than similar-maturity Treasuries and $650 million of floating-rate securities that yield 79 basis points more than the three-month London interbank offered rate, according to data compiled by Bloomberg.
The New York-based bank, which has about $25.1 billion of debt coming due this year, issued three-year securities in January, offering $1.75 billion of 1.25 percent notes at a relative yield of 95 basis points, Bloomberg data show. Those securities traded yesterday at 100.6 cents on the dollar to yield 1.03 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.