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The U.S. Department of the Treasury announced successful pricing of Citigroup ($51.79 0.19%) subordinated notes.
The expected proceeds from this offering will be $894 million, providing an additional profit for taxpayers on Treasury’s TARP investment in Citigroup.
The Treasury added that the Citi sale is proof it is committed to succesfully recovering TARP funds on behalf of taxpayers.
Including the expected proceeds from today’s transaction, Treasury received more than $58.4 billion in repayments and other income on its TARP investment of $45 billion in Citigroup – representing an overall positive return for taxpayers of more than $13.4 billion.
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