Citigroup Inc (NYSE:C) enhances note buyback offer to $3.55 Billion


Dallas, Texas 09/03/2013 (Financialstrend) – Citigroup Inc (NYSE:C) stated that it has augmented its buyback of notes to $3.55 bln as part of its continuing attempts with the aim to boost its financial backing as well as capital formation.

The offers stood at $3.07 billion when they first started a few weeks back.

The banking institution stated that it has retired around $25 billion in senior debt, subordinated debt, preferred as well as trust preferred securities since the commencement of last year.

The said offers terminate 11:59 p.m. EDT on September 11, 2013.

Citigroup Inc. announced as No. 1 issuer of Corporate Cards in US

 The Nilson Report had placed Citigroup Inc. to be the top issuer of Corporate Cards in the US market.

 Citigroup Inc: Highest-paid U.S. chief executive officers are often dismissed or fined: research

As per a research, approximately 40% of the highest-paid chief executive officers (CEOs) in US zone during the last twenty year period finally ended up being dismissed, paying fraud-associated fines or settlements, or accepting administrative bailout funds.

The report stated that chief executives for big firms obtained around 354 times as much salary as the average American worker during the last year (2012). That gap has soared upwards since the year 1993, when CEOs for large companies bagged approximately 195 times as much.

But the top paying firms do not necessarily obtain the best performance from their chief executive officers, the report added up.

For example, Enron’s Kenneth Lay was one of the 25 highest-paid chief executives for a period of 4 years, before his firm burst in an accounting scam in the year 2001. During May of the year 2006, a Houston federal panel found Lay guilty of fraud and conspiracy. His demise two months later resulted into his condemnation being booted out.

The think tank considered the 25 top paid chief executive officers for each of the past twenty year period. There were 241 administrators on the list altogether, as many appeared for several years. That indicates that the 40% average comprises many chief executives who have emerged on the lists several times.