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  • Citigroup Inc. (NYSE:C) to raise More Long-term Debt - Raised Estimates

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    Sunday August 8, 2010 at 07:56 pm EST

    Citigroup Raised Estimates - Will Collect $18-$21 billion in Long-term Debt

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    Citigroup Inc (NYSE:C) on Friday said that it has raised its estimates  and now it expects to issue $18 billion o $21 billion in long-term debt this year which is $3 billion to $6 billion more than earlier estimates.

    Long-term Debt refers to Loans and obligations with a maturity of longer than one year; usually accompanied by interest payments and also called funded debt. Citigroup Inc. (NYSE:C) also said in the filing Friday that the $18 billion to $21 billion of expected long-term debt compares with the $35 billion of expected maturities during the year.

    Citigroup will further continue to review its funding and liquidity needs and may change the expected debt estimates. Citigroup is expecting to solidify its structural liquidity.

    Citigroup Inc. (NYSE:C) Shares closed at $4.06 on Friday Which is near resistance level of $4.03. 
    Resistance levels above - $4.22 and $4.43
    Support Levels - $3.7 and $3.42.

    Shares of Citigroup Inc (NYSE:C) are trading almost unchanged since long. Citi group Inc. (NYSE:C) has shown extremely high volume but resisting any major price change. Citigroup Inc.(NYSE:C) sold $3 billion in Senior Notes earlier to get more stability. It also is planning to sell Egg, Its Online Banking in UK to get rid of its non-core business. It is expected that the current pattern will continue until the Government starts selling its stocks, or a reverse split happens.

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