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Citigroup Redeems $1 Billion in Preferred Stock; Computershare Serves as Paying Agent

1 report, 1 independent Updated Mon 00:00
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What happened

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Citigroup Inc. is redeeming $1.0 billion in liquidation preference of its 4.150% Fixed Rate Reset Noncumulative Preferred Stock, Series Y. The redemption is scheduled for November 15, 2026, with the cash payment date set for November 16, 2026. Computershare Trust Company, N.A. is serving as the paying agent for the Preferred Stock and related Depositary Shares.

From timminspress.com

Why it matters

Some supportBrind's analysis of the reports

The redemption reflects Citigroup’s ongoing efforts to enhance the efficiency of its funding and capital structure. Citigroup stated that the decision is based on several factors, including regulatory changes, potential impact on net interest margin, and the overall remaining tenor of its debt portfolio.

From timminspress.com

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