BAKU, Azerbaijan, October 31. Citibank, N.A.
has announced the full redemption of $2.5 billion in notes due in
2026, including $2 billion in fixed-rate notes and $500 million in
floating-rate notes.
According to the bank's announcement, the redemption date is
Nov. 4, 2026.
The cash redemption price will equal the principal amount of the
notes (par value), plus accrued and unpaid interest up to, but
excluding, the redemption date. Interest will cease to accrue on
the notes from that date.
Citibank said the redemptions are consistent with its liability
management strategy and reflect ongoing efforts to improve 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," the bank noted.
Citibank, N.A. will act as the paying agent for the notes.
Citibank, N.A. is the primary U.S. banking subsidiary
of Citigroup Inc., one of the largest global financial services
companies. Founded in 1812 as the City Bank of New York, Citibank
ranks among the top banks in the United States by assets, with
approximately $2 trillion in total assets. Headquartered in New
York, it provides a broad range of consumer, commercial, and
institutional banking services and operates as part of Citigroup’s
global network spanning more than 180 countries and
jurisdictions.
