Citi’s $5 Billion Offering

September 27, 2023

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

Citibank offered $1.75 billion 5.864% notes due 2025, $750 million floating-rate notes due 2025, and $2.5 billion 5.803% notes due 2028. The notes were offered under the exemption from registration found in Section 3(a)(2) of the Securities Act, and will be issued on September 29, 2023. Cleary also acted as counsel to Citi in establishing its notes program.

Citibank, a 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 consumer finance, mortgage lending and retail banking (including commercial banking) products and services, investment banking, cash management and trade finance, and private banking products and services.