Citigroup Inc. announced it will redeem in whole its 0.500% Fixed Rate / Floating Rate Notes due 2027, a total of €1,500,000,000. The redemption date is October 8, 2026, and the cash redemption price will equal par plus accrued and unpaid interest to but excluding that date. Citigroup said the move is consistent with its liability management strategy and reflects ongoing efforts to enhance the efficiency of its funding and capital structure, adding that it will continue to consider opportunities to redeem or repurchase securities based on factors including economic value, regulatory changes, potential impact on net interest margin and borrowing costs, the remaining tenor of its debt portfolio, capital impact and overall market conditions. Interest will no longer accrue on the notes beginning on the redemption date. Citibank, N.A. is the paying agent for the notes.
Citigroup Inc.Citigroup redeems €1.5B of 0.500% notes due 2027 as part of its liability management and funding/capital structure efficiency efforts.
