Citigroup Announces $1.0 Billion Redemption of 1.281% Fixed Rate / Floating Rate Notes Due 2025
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.
Citigroup ha annunciato il completo riscatto delle sue note a tasso fisso / tasso variabile da 1 miliardo di dollari al 1,281%, in scadenza nel 2025. La data di riscatto è fissata per il 3 novembre 2024, con pagamento previsto per il 4 novembre 2024. Il prezzo di riscatto sarà pari al valore nominale più gli interessi maturati e non pagati. Questa azione è in linea con la strategia di gestione delle passività di Citigroup e i suoi sforzi per ottimizzare l'efficienza della struttura di finanziamento e del capitale. L'azienda continuerà a valutare opportunità di riscatto dei titoli in base a fattori quali valore economico, cambiamenti normativi, impatto sul capitale e condizioni di mercato.
Citigroup ha anunciado el rescate completo de sus bonos a tasa fija / tasa flotante por 1 mil millones de dólares al 1,281%, con vencimiento en 2025. La fecha de rescate está programada para el 3 de noviembre de 2024, con el pago previsto para el 4 de noviembre de 2024. El precio de rescate será igual al valor nominal más los intereses acumulados y no pagados. Esta acción está alineada con la estrategia de gestión de pasivos de Citigroup y sus esfuerzos para optimizar la eficiencia de la estructura de financiamiento y capital. La empresa seguirá evaluando oportunidades para el rescate de valores considerando factores como el valor económico, cambios regulatorios, impacto en el capital y condiciones del mercado.
시티그룹은 10억 달러짜리 1.281% 고정금리/변동금리 채권의 전량 상환을 발표했습니다. 상환일은 2024년 11월 3일로 예정되어 있으며, 지급일은 2024년 11월 4일입니다. 상환 가격은 액면가와 미지급된 이자를 포함한 금액에 해당합니다. 이번 조치는 시티그룹의 부채 관리 전략과 자금 조달 및 자본 구조 효율성을 최적화하려는 노력에 부합합니다. 이 회사는 경제적 가치, 규제 변화, 자본에 미치는 영향 및 시장 조건 등을 고려하여 채권 상환 기회를 지속적으로 평가할 것입니다.
Citigroup a annoncé le remboursement total de ses notes à taux fixe / taux variable de 1 milliard de dollars à 1,281% arrivant à échéance en 2025. La date de remboursement est fixée au 3 novembre 2024, avec paiement prévu pour le 4 novembre 2024. Le prix de remboursement sera égal à la valeur nominale plus les intérêts courus et non payés. Cette action s'aligne sur la stratégie de gestion des passifs de Citigroup et ses efforts pour optimiser l'efficacité de la structure de financement et de capital. L'entreprise continuera d'évaluer les opportunités de remboursement de titres en fonction de facteurs tels que la valeur économique, les changements réglementaires, l'impact sur le capital et les conditions du marché.
Citigroup hat die vollständige Rückzahlung ihrer 1 Milliarde Dollar an 1,281% festverzinslichen / variabelverzinslichen Anleihen mit Fälligkeit im Jahr 2025 angekündigt. Das Rückzahlungsdatum ist auf den 3. November 2024 festgelegt, die Zahlung ist für den 4. November 2024 geplant. Der Rückzahlungsbetrag entspricht dem Nennwert zuzüglich aufgelaufener und nicht bezahlter Zinsen. Diese Maßnahme steht im Einklang mit der Verbindlichkeitsmanagementstrategie von Citigroup sowie mit den Bemühungen zur Optimierung der Kapitalstruktur und Finanzierungseffizienz. Das Unternehmen wird weiterhin Gelegenheiten zur Rückzahlung von Wertpapieren unter Berücksichtigung von Faktoren wie wirtschaftlichem Wert, regulatorischen Änderungen, Auswirkungen auf das Kapital und Marktbedingungen bewerten.
- Strategic debt management through early redemption of $1 billion in notes
- Potential improvement in funding efficiency and capital structure
- None.
Insights
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The redemption's timing suggests Citigroup sees an opportunity to refinance or restructure its debt profile more efficiently. While the immediate impact on the balance sheet is relatively modest given Citi's size, this action demonstrates prudent financial management and could signal further liability optimization moves ahead. The bank's focus on enhancing funding efficiency and capital structure could positively impact long-term profitability metrics.
The redemption date for the notes is November 3, 2024 (the “redemption date”). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest, to but excluding, the redemption date and will be payable on November 4, 2024, the next succeeding business day after the redemption date.
The redemption announced today is consistent with Citigroup's liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup 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 Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, capital impact, as well as overall market conditions.
Beginning on the redemption date, interest will no longer accrue on the notes.
Citibank, N.A. is the paying agent for the notes. For further information on the notes, please see the related prospectus supplement at the following web address: https://www.citigroup.com/rcs/citigpa/akpublic/storage/public/Citi-Oct-2021-4NC3-Prospectus-Supplement-AsFiled.pdf.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029690314/en/
Media:
Danielle Romero Apsilos
212 816 2264
danielle.romeroapsilos@citi.com
Fixed Income Investors:
Peter Demoise
212 559 2718
peter.demoise@citi.com
Source: Citigroup Inc.
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