12/01/2014
Citizens Financial Group Announces Pricing of $1.5 Billion of Citizens Bank, N.A. Senior Notes
Company Release - 12/02/2014 13:37
PROVIDENCE, R.I.--(BUSINESS WIRE)--
Citizens Financial Group, Inc. (NYSE: CFG) today announced the pricing of an offering of $1.5 billion aggregate principal amount of senior
notes (collectively, the “securities”), to be issued by Citizens Bank,
N.A. (the “Bank”), consisting of:
-
$750 million 1.600% senior unsecured notes due 2017 at an issue price
of 99.947%
-
$750 million 2.450% senior unsecured notes due 2019 at an issue price
of 99.906%
The securities are being offered under the Bank’s Global Bank Note
Program dated December 1, 2014. The offering is expected to close on
December 4, 2014, subject to customary closing conditions. The Bank
intends to use the proceeds for general corporate purposes.
Morgan Stanley & Co. LLC and RBS Securities Inc. are acting as
bookrunners for the offering.
The securities are not deposits and are neither insured nor approved by
the Federal Deposit Insurance Corporation or any other government
agency, and are subject to investment risk, including the possible loss
of principal. The securities have not been registered under the
Securities Act of 1933, as amended (the “Securities Act”) and are being
offered pursuant to an exemption from registration under the Securities
Act provided by Section 3(a)(2) thereof.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. (NYSE: CFG) is one of the nation’s oldest
and largest financial institutions, with $131.3 billion in assets as of
September 30, 2014. Headquartered in Providence, Rhode Island, the
company offers a broad range of retail and commercial banking products
and services to individuals, small businesses, middle-market companies,
large corporations and institutions. Consumer Banking helps its retail
customers “bank better” with mobile and online banking, a 24/7 customer
contact center and the convenience of approximately 3,200 ATMs and
approximately 1,200 Citizens Bank and Charter One branches in 11 states
in the New England, Mid-Atlantic and Midwest regions. Citizens also
provides mortgage lending, auto lending, student lending and commercial
banking services in selective markets nationwide. In Commercial Banking,
Citizens offers corporate, institutional and not-for-profit clients a
full range of wholesale banking products and services including lending
and deposits, capital markets, treasury services, foreign exchange and
interest rate hedging, leasing and asset finance, specialty finance and
trade finance. Citizens operates via subsidiaries Citizens Bank, N.A.,
and Citizens Bank of Pennsylvania. Additional information about Citizens
and its full line of products and services can be found at www.citizensbank.com.
Citizens Financial Group, Inc.
Media:
Jim Hughes,
781-751-5404
or
Investors:
Ellen A. Taylor,
203-897-4240
Source: Citizens Financial Group, Inc.
