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Monday, December 14, 2009

Citi Reaches Agreement to Repay TARP

by Calculated Risk on 12/14/2009 08:13:00 AM

Press Release from Citigroup: Citigroup, U.S. Government and Regulators Agree to TARP Repayment

  • Citi to Issue $17 Billion of Common Stock and $3.5 Billion of Tangible Equity Units

  • Citi to Repay $20 Billion of TARP Trust Preferred Securities

  • Agreement with the U.S. Government and Regulators to Terminate Loss-Sharing Agreement

  • U.S. Treasury to Sell Up To $5 Billion of its Common Shares via Concurrent Secondary Offering; Plans Orderly Exit

    From the NY Times: Citigroup Says It Has Reached a Deal to Repay Bailout Funds