Citi’s $12 Billion Offering

Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc. (CGMI), in a $12 billion registered offering by Citigroup Inc. (Citi).

The offering consisted of $3.5 billion aggregate principal amount of 5.266% fixed-rate/floating-rate callable senior notes due 2029, $500 million aggregate principal amount of floating-rate callable senior rates due 2029, $3.5 billion aggregate principal amount of 5.583% fixed-rate/floating-rate callable senior notes due 2032, and $4.5 billion aggregate principal amount of 5.86% fixed-rate/floating-rate callable senior notes due 2037.

Citi, a global diversified financial services holding company, provides a broad range of financial products and services to consumers, corporations, governments, and institutions. Citi does business in nearly 160 countries and jurisdictions.

The Cleary team included partner Jeff Karpf; counsel Elizabeth Chang; and associates Grady Tarplee, Jean Choi, and Julian Vleeschhouwer. Partner Matthew Brigham and associate Nathaniel Pribil advised on tax matters.