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Citigroup Announces $2.0 Billion Redemption of 0.981% Fixed Rate / Floating Rate Notes due 2025 and $500.0 Million Redemption of Floating Rate Notes due 2025
Citigroup Inc. announces the redemption of $2.0 billion of its 0.981% Fixed Rate / Floating Rate Notes due 2025 and $500.0 million of its Floating Rate Notes due 2025. The redemptions aim to enhance funding and capital structure efficiency, with further opportunities considered based on various factors. Interest will cease accruing on the notes post-redemption date.
Citigroup Inc. annuncia il rimborso di 2,0 miliardi di dollari delle sue note a tasso fisso/flessibile dello 0,981% con scadenza nel 2025 e di 500 milioni di dollari delle sue note a tasso variabile con scadenza nel 2025. I rimborsi hanno lo scopo di migliorare l'efficienza della struttura di finanziamento e di capitale, con ulteriori opportunità considerate in base a vari fattori. Gli interessi smetteranno di maturare sulle note dopo la data di rimborso.
Citigroup Inc. anuncia la redención de 2.000 millones de dólares de sus Notas a Tasa Fija / Flotante del 0.981% con vencimiento en 2025 y de 500 millones de dólares de sus Notas a Tasa Flotante con vencimiento en 2025. Las redenciones buscan mejorar la eficiencia de la estructura de financiación y capital, considerando más oportunidades basadas en varios factores. Los intereses dejarán de acumularse en las notas después de la fecha de redención.
시티그룹 인크는 2025년 만기의 0.981% 고정/변동금리 채권 20억 달러와 2025년 만기의 변동금리 채권 5억 달러를 상환한다고 발표했습니다. 이 상환은 자금 및 자본 구조의 효율성을 향상시키는 것을 목표로 하며, 다양한 요인을 기반으로 추가 기회도 고려됩니다. 상환일 이후로는 채권에 대한 이자가 발생하지 않습니다.
Citigroup Inc. annonce le rachat de 2,0 milliards de dollars de ses obligations à taux fixe/flottant de 0,981% arrivant à échéance en 2025 et de 500 millions de dollars de ses obligations à taux flottant également dues en 2025. Ces rachats visent à améliorer l'efficacité de la structure de financement et de capital, avec d'autres opportunités envisagées en fonction de divers facteurs. Les intérêts cesseront de s'accumuler sur les obligations après la date de rachat.
Citigroup Inc. gibt die Einlösung von 2,0 Milliarden Dollar seiner festverzinslichen / variabel verzinslichen Anleihen mit einer Verzinsung von 0,981% und Fälligkeit 2025 sowie von 500 Millionen Dollar seiner variabel verzinslichen Anleihen mit Fälligkeit 2025 bekannt. Die Rückzahlungen zielen darauf ab, die Effizienz der Finanzierungs- und Kapitalstruktur zu verbessern, wobei weitere Möglichkeiten auf Basis verschiedener Faktoren in Betracht gezogen werden. Die Zinsen werden nach dem Rückzahlungsdatum nicht mehr auf die Anleihen angerechnet.
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NEW YORK--(BUSINESS WIRE)--
Citigroup Inc. is announcing the redemption, in whole, constituting $2,000,000,000 of its 0.981% Fixed Rate / Floating Rate Notes due 2025 (the “fixed rate / floating rate notes”) (ISIN: US172967MX62), and the redemption, in whole, constituting $500,000,000 of its Floating Rate Notes due 2025 (the “floating rate notes” and, together with the fixed rate / floating rate notes, the “notes”) (ISIN: US172967MW89).
The redemption date for the notes is May 1, 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.
The redemptions announced today are consistent with Citigroup's liability management strategy, and reflect 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.
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 the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Citigroup Inc. is announcing the redemption of $2.0 billion of its 0.981% Fixed Rate / Floating Rate Notes due 2025 and $500.0 million of its Floating Rate Notes due 2025.
When is the redemption date for the notes?
The redemption date for the notes is May 1, 2024.
What is the purpose of these redemptions?
The redemptions aim to enhance Citigroup's funding and capital structure efficiency.
Will interest continue accruing on the notes post-redemption date?
No, interest will no longer accrue on the notes beginning on the redemption date.
