Citibank Announces $1.75 Billion Redemption of 5.864% Notes Due 2025 and $750 Million Redemption of Floating Rate Notes Due 2025
The redemption date for the notes is August 29, 2025 (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 Citibank's liability management strategy and reflect its ongoing efforts to enhance the efficiency of its funding and capital structure. Citibank 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 Citibank's net interest margin and borrowing costs, the overall remaining tenor of Citibank'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.
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Media Contact:
Danielle Romero Apsilos
212 816 2264
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Fixed Income Investor Contact:
Peter Demoise
212 559 2718
[email protected]
Source: Citibank, N.A.
