Citigroup says debt sales could reach $21 billion this year; closes 2 debt offerings Monday

Citigroup debt sales could reach $21B in 2010

NEW YORK — Citigroup Inc. expects to issue $3 billion to $6 billion more in long-term debt this year than it previously estimated.

In a regulatory filing, the bank said it now expects to sell approximately $18 billion to $21 billion in long-term debt this year “to maintain and solidify its structural liquidity” and to extend the length of time it has to pay down debt supporting its businesses.

“Citi continues to review its funding and liquidity needs and may adjust its expected issuances for the remainder of 2010 due to market conditions or regulatory requirements, among other factors,” the New York-based bank said in its quarterly report filed with the Securities and Exchange Commission.

Separately, the bank filed notice that it expected to close two debt offerings Monday. The first was for the sale of $2.25 billion of new debt, the second for $750 million in new debt.

The $2.25 billion issuance was for 5.375 percent senior notes due 2020.

Citigroup Global Markets Inc. was the sole book manager. Deutsche Bank Securities Inc., Goldman, Sachs & Co., RBS Securities Inc. and UBS Securities LLC were senior co-managers.

Aladdin Capital LLC, BANCA IMI SpA, BNP Paribas Securities Corp., Credit Suisse Securities LLC, RBC Capital Markets Corporation, SG Americas Securities LLC, SunTrust Robinson Humphrey Inc., TD Securities LLC, UniCredit Capital Markets Inc. and The Williams Capital Group LP were junior co-managers.

The $750 million issuance was for 4.75 percent notes due 2015.