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Non-Tech : C (Citigroup)

C 101.23

+1.0%

Oct 31 9:30 AM EST

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To: Rob C. who wrote (217)	12/17/2007 10:57:48 AM
From: Rarebird	Read Replies (1) of 259

<<Anyone else looking at this as a buying opportunity>> Citigroup had to offer a market interest rate of eleven percent to Abu Dhabi to procure the minuscule sum of $US 7.5 Billion, enough to tide it over for the rest of this year. To pay that high an interest rate for that amount of money is a clear indication that the REAL state of Citigroup's balance sheet and its capital is MUCH worse than is presently being reported. The rate it is offering on this deal is DOUBLE what its present bondholders are getting. If Citigroup could have simply issued new debt to gain this "breathing space", it would have.

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