Citicorp issued $100 million of fixed-rate subordinated debt in the Euromarkets Friday, the first such issue by a U.S. bank in seven years.

The 10.5-year issue will save Citicorp 10 to 12 basis points on the cost of a comparable issue in the U.S. market, a company official said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.