Citigroup Inc. (NYSE: C)
July 01, 2010
Citigroup Inc. Announces Results of Cash Tender Offer to Purchase Any and All of Certain Series of its Outstanding Notes
NEW YORK – Citigroup Inc. today announced the results of its offers (the "offers") to purchase for cash any and all of its notes (the "notes") of the series set forth in the table below. As of the expiration date of the offers, which was 5:00 p.m. New York time on June 30, 2010, approximately $487.5 million aggregate principal amount of notes were validly tendered and not withdrawn. This previously announced action is part of a liability management strategy that utilizes available cash to retire older vintage debt nearing maturity. Citi has accepted for purchase all notes validly tendered and not validly withdrawn and expects to settle all tenders and commitments on July 6, 2010.
| Title of Security | CUSIP / ISIN No. | Aggregate Principal Amount Outstanding Prior to the Offer | Aggregate Principal Amount to be Purchased | Aggregate Principal Amount Expected to be Outstanding After Settlement |
| 7.250% Subordinated Notes due October 1, 2010 | 172967AZ4 / US172967AZ49 | $410,805,100 | $70,076,300 | $340,728,800 |
| 5.125% Notes Due February 14, 2011 | 172967DH1 / US172967DH14 | $1,706,514,000 | $417,376,000 | $1,289,138,000 |
Citi's affiliate Citigroup Global Markets Inc. acted as the dealer manager for the offers. Global Bondholder Services Corporation was the depositary and information agent with respect to the notes.
This press release is neither an offer to purchase nor a solicitation to buy any of the notes nor is it a solicitation for acceptance of any offer. Citi made the offers only by, and pursuant to the terms of, the offer to purchase and the related letter of transmittal previously distributed to holders of the notes. The offers were not made to (nor were tenders of notes accepted from or on behalf of) holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This announcement must be read in conjunction with the offer to purchase and the related letter of transmittal.
United Kingdom. The communication of the offer to purchase and any other documents or materials relating to the offers was not made and such documents and/or materials have not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials were not distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion was only made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or within Article 43(2) of the Order, or to other persons to whom it may lawfully be communicated in accordance with the Order.
Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
Certain statements in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. For a discussion of additional risks and uncertainties that may affect Citi's future results, see Citi's periodic reports filed with the U.S. Securities and Exchange Commission and available on www.sec.gov or www.citigroup.com.