Citigroup.com Homepage
For Immediate Release Citigroup Inc. (NYSE: C)

Citigroup Global Markets Funding Luxembourg S.C.A. – Issue of Additional HKD775,000,000 Guaranteed Cash Settled Exchangeable Bonds Due 2024 Referable to the Shares of Longfor Group Holdings Limited

January 20, 2021
Share on LinkedIn
Share on Facebook
Share on Twitter
Copy Link
Print

London – Citigroup Global Markets Funding Luxembourg S.C.A. (the "Issuer") announces the placement of additional guaranteed cash-settled exchangeable bonds due 2024 (the "Bonds") in an aggregate principal amount of HKD775,000,000. The Bonds will be consolidated with the HKD2.325 billion Guaranteed Cash Settled Exchangeable Bonds due 2024 issued on May 21, 2020 (the "Original Bonds"). The Bonds are referable to ordinary shares (the "Shares") of Longfor Group Holdings Limited (the "Company"). Exchange rights in respect of the Bonds will be cash-settled only.

The Bonds will be issued on the same terms and conditions of the Original Bonds, save for certain mechanical adjustments to reflect this further issue.

The issue price of the Bonds has now been set at 113.11% of the principal amount of the Bonds, as determined with reference to the volume weighted average price of a Share on January 20, 2021.

Settlement and delivery of the Bonds is expected to take place on January 28, 2021.

The net proceeds from the issue of Bonds will be used by the Issuer for its general corporate purposes.

After consolidating with the Original Bonds to form a single series, the Bonds will then be listed and admitted to trading on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange.

Citigroup Global Markets Limited is acting as Sole Global Coordinator, Sole Bookrunner, Calculation Agent and Guarantor.

Each of the Sole Global Coordinator, the Sole Bookrunner and the Issuer is party to certain existing derivative arrangements, and Citigroup Global Markets Limited is acting as Sole Bookrunner, Sole Global Coordinator, Calculation Agent and Guarantor with respect to the Bonds and may participate in market making activities. In addition, Citigroup Global Markets Limited as Calculation Agent will make all determinations, calculations and adjustments under the terms and conditions of the Bonds which will involve the exercise of its discretion. Such arrangements and activities may present a conflict of interest between the interests of Bondholders and the interests of Citigroup Global Markets Limited in its various capacities, and Citigroup Global Markets Limited may adjust its hedging position or take positions that are inconsistent with, or adverse to, the investment objectives of the holders of the Bonds. Such activities may impact on the price or value of the Shares and/or the Bonds, and may affect a Bondholder's return on the Bonds.

Sign up to receive the latest news from Citi.