Citigroup Inc. - C STOCK NEWS

Citigroup has announced the complete redemption of its $1 billion 1.281% Fixed Rate / Floating Rate Notes due 2025. The redemption date is set for November 3, 2024, with payment scheduled for November 4, 2024. The redemption price will equal par plus accrued and unpaid interest. This action aligns with Citigroup's liability management strategy and its efforts to optimize funding and capital structure efficiency. The company will continue evaluating opportunities for security redemptions based on factors including economic value, regulatory changes, capital impact, and market conditions.

Citi has launched Citi Digital Bill (CDB), a new integrated digital bill discounting solution that modernizes traditional trade finance practices. The solution eliminates physical documentation needs and reduces receivables monetization time from weeks to under an hour. CDB operates through Citi's proprietary platform CitiDirect, enabling digital signing, acceptance, and financing of bills. The platform streamlines processes, reduces operational risks, and improves transparency for both buyers and sellers. Currently available in the US, UK, and Ireland, CDB is planned for expansion to additional countries in 2024.

Citigroup has declared its quarterly dividend payments for common and preferred stockholders. Common stockholders will receive $0.56 per share, payable on November 22, 2024, for holders of record as of November 4, 2024. The company also announced dividend payments for nine series of preferred stock (Series P, W, X, Y, Z, AA, BB, CC, and DD), with rates ranging from 3.875% to 7.625%, all payable in November 2024. Each preferred stock depositary receipt represents one-twenty-fifth of a full preferred share.

Citigroup (C) has released its third quarter 2024 financial results, which are now available on the company's investor relations website. The report includes a Quarterly Financial Data Supplement providing additional financial, statistical, and business-related information, along with business and segment trends. Citi will host a conference call at 11 a.m. (ET) to discuss these results, with a live webcast available for interested parties. A replay and transcript of the webcast will be made available shortly after the event.

Citi describes itself as a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management, and a valued personal bank in the United States. The company operates in over 180 countries and jurisdictions, offering a wide range of financial products and services to corporations, governments, investors, institutions, and individuals.

Citigroup Inc. (NYSE: C) and Apollo (NYSE: APO) have announced a landmark $25 billion private credit, direct lending program in North America, with potential for global expansion. The program includes participation from Mubadala Investment Company as Apollo's strategic partner and Apollo's subsidiary, Athene. This strategic initiative aims to enhance access to private lending capital for corporate and sponsor clients, combining Citi's banking expertise with Apollo's extensive capital base.

The program is expected to finance approximately $25 billion of debt opportunities over the next several years, covering both corporate and financial sponsor transactions. Citi and Apollo anticipate strong client demand and maintain flexibility to expand the program's size beyond the initial $25 billion. This collaboration is designed to provide clients with a range of innovative, private financing solutions to meet their evolving needs and strategic goals.

EVPassport CEO Hooman Shahidi is set to speak at the 2024 Concordia Annual Summit in New York City during UN General Assembly week, September 23-25. The summit brings together public and private sector leaders to discuss global challenges.

Shahidi will participate in a panel discussion titled 'Building Tomorrow: Innovating with Tech and Investment for a Sustainable Legacy' on Tuesday, September 24, at 9:30 A.M. ET. The panel will explore how long-term investment and technology can drive societal impact and sustainability.

The discussion will focus on AI-driven solutions, smart EV charging stations, and other technologies that meet consumer demands while integrating sustainability. Joining Shahidi on the panel will be executives from Citi and Siemens, among others.

EVPassport, a global EV charging network, aims to revolutionize the electric vehicle charging industry with market-driven solutions for sustainable infrastructure.

Citi's latest Securities Services Whitepaper reveals a significant shift towards digital money beyond central bank digital currencies (CBDCs). 65% of respondents plan to use non-CBDC options like stablecoins and tokenized deposits for digital securities settlements by 2026, compared to only 15% planning to use CBDCs. This marks a stark contrast from the previous year when CBDCs were preferred.

The survey, polling nearly 500 market participants, highlights the growing adoption of distributed ledger technology (DLT) and digital assets. Key findings include:

• Asia Pacific and Europe are leading in DLT and digital asset initiatives
• 62% of sell-side respondents focus on tokenization of various asset classes
• 64% of sell-side respondents prefer private networks for asset tokenization
• 44% of respondents cited significant impact from T+1 settlement implementation
• 40% expect real-time, atomic settlement within the next decade

The whitepaper emphasizes the need for modern platforms, reliable data, and real-time information as traditional and digital assets converge.

Citigroup Inc. (C) has announced the full redemption of its Series U Preferred Stock, totaling $1.5 billion in aggregate liquidation preference. The redemption is scheduled for September 12, 2024, with a cash redemption price of $1,000 per Depositary Share. Holders of record on August 30, 2024, will receive a previously declared semi-annual dividend of $25.00 per Depositary Share on the redemption date.

This move aligns with Citigroup's liability management strategy and efforts to enhance its funding and capital structure efficiency. The decision factors in economic value, regulatory changes, potential impacts on net interest margin and borrowing costs, capital impact, and overall market conditions.

Citi Issuer Services, through Citibank, N.A., has been appointed as the depositary bank for NIP Group Inc.'s American Depositary Receipt (ADR) program. NIP, a leading Chinese esports organization, listed its American Depositary Shares (ADSs) on Nasdaq under the ticker "NIPG" on July 26, 2024. The initial public offering was priced at $9.00 per ADS, with a total offering size of $21.89 million. Each ADS represents two Class A ordinary shares of NIP. The company's global footprint spans Asia, Europe, and South America. Citi's selection as depositary bank highlights its cross-border capabilities and commitment to providing high-quality ADR services.