Citi pays up but rakes in $3bn as it reopens US bank bond market
Citigroup this week launched the first benchmark offering from a bank or a brokerage for three months, a $3bn five year bond that it priced at what is thought to have been an all-time wide for the name of 337.5bp over Treasuries.
Citis return, along with deals from American International Group, JP Morgan and Fannie Mae, gave investors a choice from among some of the names worst-affected by the US housing market correction.
"We were happy to get the funding done, and three and three-eighths is, in the context of the
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