Citigroup selling more FDIC-backed debt

Discussion in 'Wall St. News' started by ASusilovic, Sep 15, 2009.

  1. Citigroup is selling more debt backed by the Federal Deposit Insurance Corp., Informa Global Markets said Tuesday. While the amount has not been determined, the bank is likely to sell 2-year and 3-year debt under the program that effectively lends financial institutions the government's AAA rating, allowing them to borrow at much cheaper rates than they would have paid amid the credit crisis. The deal is expected to price on Tuesday, according to Informa.

    Didn't they yesterday just announce that they will pay back TARP funds and realize a "profit " for the taxpayer ? :confused:
  2. H2O


    So what do you think they will do with the money they raise? - This is not TARP money :D