Citigroup in Debt Offerings Totaling $1.5 Billion

May 18, 2005

Cleary Gottlieb acted as designated underwriters’ counsel in two recent Citigroup, Inc. debt offerings, representing underwriters led by Citigroup’s subsidiary, Citigroup Global Markets Inc.  In the first offering, Citigroup issued $800 million floating rate notes due 2008.  The offer “reopened” a May 2 issuance of $2 billion notes with the same terms.  In a reopening, the newly issued notes form a part of the same series as, and are exchangeable with, the previously issued notes.  In the second offering, Citigroup issued $700 million floating rate notes due 2010. 

The notes in both transactions were issued under a shelf registration statement and offered for sale within the United States and abroad. The Luxembourg Stock Exchange will list the Citigroup notes.

Citigroup, a global financial services company with approximately 200 million customer accounts in more than 100 countries, provides financial products and services, including banking, investment banking, insurance, securities brokerage and asset management.