Citigroup Inc. Announces EUR 1.5 Billion Redemption Of 0.500% Fixed Rate / Floating Rate Notes Due 2027

Citigroup will start meetings with loan investors for Paramount Skydance Corp. to fund its takeover of Warner Bros. Discovery. The $110 billion deal includes $30 billion in investment-grade bonds, $7.5 billion in loans, and $12 billion in second-lien bonds. The takeover was delayed by lawsuits but is now cleared to close. Citigroup, Bank of America, and Apollo Global Management underwrote the debt package.

A7, a Kremlin-backed fintech company, moved $6.9bn through global banks like Standard Chartered, Citigroup, and others via a forgery scheme. The company used front entities and forged documents to bypass sanctions and facilitate payments, including for war-related goods. A7's operations involved multiple banks and countries, with significant flows routed through Hong Kong and the UAE.

Citigroup Inc. announced the redemption of €1.5 billion of its 0.500% Fixed Rate/Floating Rate Notes due 2027. The redemption date is October 8, 2026, with the cash redemption price equal to par plus accrued interest. This move aligns with Citigroup's liability management strategy to optimize funding and capital structure. Citibank, N.A. serves as the paying agent for the notes.

Shares of JPMorgan Chase (JPM), Bank of America (BAC), and Citigroup (C) fell 2% to 3% due to concerns that AI advancements may disrupt the banking sector. The selloff followed Meta Platform's unveiling of its AI agent, Muse. Brokerages Charles Schwab (SCHW) and LPL Financial (LPLA) also declined over 5% on similar fears. JPM has a Moderate Buy rating with a $378.67 average price target, implying 9% upside.

An investigation found that Russian-backed payment network A7 processed $6.9B through major banks, including Standard Chartered, DBS, and Citigroup, using shell companies and falsified documents. A7, promoted by Moscow as an alternative to SWIFT, facilitated transactions involving sensitive military goods. The network is linked to Promsvyazbank and Moldovan oligarch Ilan Shor, with operations spanning multiple countries.

A Kremlin-backed payments group, A7, allegedly moved $6.9B through global banks like Standard Chartered, Citigroup, and DBS, despite sanctions, using forged documents. A7, set up by Moldovan oligarch Ilan Shor, operates as an alternative to the Western payments system, facilitating sensitive war-related goods. Investigations by FT and OSC found A7's network includes 100+ front companies in various countries, leveraging traditional banking.