Citi takes another swing at cutting long term debt with $1bn buyback

22 Nov 2012

Citi is making further progress in reducing its long term debt — already cut by $14bn this year — with a jumbo cash tender offer.

The US bank is offering to buy back almost $1bn of senior unsecured paper out of a pool of close to $22bn of notes denominated in euros and dollars.

The offer reflects Citi’s “continued robust liquidity position”, the bank said. Already this year Citi has cut $13.9bn of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial