Citi’s $5 Billion Offering

April 24, 2024

Cleary Gottlieb represented the dealers, led by Citigroup Global Markets Inc., in three public notes offerings by Citibank N.A. (Citibank).

Citibank offered $2 billion 5.438% notes due 2026, $1 billion floating-rate notes due 2026, and $2 billion 5.57% notes due 2034. The notes were offered under the exemption from registration found in Section 3(a)(2) of the Securities Act and will be issued on April 30, 2024. Cleary also acted as counsel to Citibank in establishing its notes program.

Citibank, an indirect wholly owned subsidiary of Citigroup Inc., is a commercial bank that, through its branches, and along with its subsidiaries and affiliates, offers a wide range of retail and commercial banking and trust services to its customers throughout the United States and the world. Citibank’s principal offerings include investment banking, commercial banking, cash management, trade finance, and e-commerce; private banking products and services; consumer finance, credit cards, and mortgage lending; and retail banking products and services.