Citigroup Inc. said Friday that it would continue to get financing in the credit markets, just not as much.
In an investor review call the banking company's treasurer, Eric Aboaf, said Citi's funding strategy will remain consistent going forward and that it will borrow "across a mix of debt and across a mix of currencies as we continue to find a lot of appreciation for that in the market."
The company has clearly been the largest beneficiary of the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program, illustrated by the nearly $60 billion of bonds it has sold since the program began late last year.
Citi is the leading issuer of TLGP debt, closely followed by General Electric Co. and Bank of America Merrill Lynch, according to the data provider Dealogic. The program is scheduled to expire Oct. 31. Citi said it does not plan to file for an emergency program extension.
Aboaf said Citi plans to sell "less than $15 billion" of bonds in 2010 and does not plan to refinance all $45 billion of debt that is coming due.