Citigroup Launches Largest-Ever USD Bond Sale at $12 Billion
Citigroup plans to raise $12 billion through the largest US dollar bond offering in its history. The sale was launched on Thursday, with peak demand of about $40 billion, roughly 3.3 times the deal size.
Credit markets strengthened after the Federal Reserve raised interest rates on Wednesday, and Citigroup took that opportunity to launch the bond financing. The deal size set a record for US dollar bond issuance by the large Wall Street bank.
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The event has a measured impact on 1 industry. The strongest current signal is positive for Commercial Banks, with intensity 50/100 and 70% confidence over a short term horizon.
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