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Abu Dhabi Invests $7.5 Billion in Citigroup
- Thread starter Biog
- Start date
From the wire:
0339 GMT [Dow Jones] Abu Dhabi Investment Authority's US$7.5 billion bail-out of Citigroup shows desperation, says senior institutional trader at major U.S. brokerage. "They've avoided a discounted equity issue by selling convertible equity units at an 11% interest rate. That's massively high. It shows they were
super desperate for funds." Notes 2-year U.S. bond yield of 2.88%, 10-year yield of 3.84%. "Citigroup have had to go out and offer 11% to get their hands on US$7.5 billion. It's good news, but it's bad news as well because it shows how deep these problems are. That's quite an extraordinary rate." Australia's S&P/ASX 200 has retreated to 6414.60 after spiking up from 6350.0 to 6440.1 on the news, suggesting there's fear that Wall Street might not sustain initial positive reaction to Citigroup bail-out. DJIA futures currently up 0.8% on
Globex. S&P 500 futures up 1.0%. (DWR)
Contact us in Singapore. 65 64154 140;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
0339 GMT [Dow Jones] Abu Dhabi Investment Authority's US$7.5 billion bail-out of Citigroup shows desperation, says senior institutional trader at major U.S. brokerage. "They've avoided a discounted equity issue by selling convertible equity units at an 11% interest rate. That's massively high. It shows they were
super desperate for funds." Notes 2-year U.S. bond yield of 2.88%, 10-year yield of 3.84%. "Citigroup have had to go out and offer 11% to get their hands on US$7.5 billion. It's good news, but it's bad news as well because it shows how deep these problems are. That's quite an extraordinary rate." Australia's S&P/ASX 200 has retreated to 6414.60 after spiking up from 6350.0 to 6440.1 on the news, suggesting there's fear that Wall Street might not sustain initial positive reaction to Citigroup bail-out. DJIA futures currently up 0.8% on
Globex. S&P 500 futures up 1.0%. (DWR)
Contact us in Singapore. 65 64154 140;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
i can't wait for public beheadings to come to a town square near me! good quality fun for the whole family!! we can all adopt shira law!
Well, maybe I can grow opium poppies in my yard now!
Well, maybe I can grow opium poppies in my yard now!