Citigroup Inc., who is the recipient of the biggest U.S. bank bailout, has struck a deal with regulators for repaying $20 billion to taxpayers and in order to escape government-imposed pay restrictions.

Citibank will raise funds with a Sale of $20.5 billion of equity and debt

Citigroup, is the only major U.S. lender that is still dependent on the government “exceptional financial assistance. The bank said in a statement today that with a sale of $20.5 billion of equity and debt the company will raise the funds.

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Citigroup Inc., who is the recipient of the biggest U.S. bank bailout, has struck a deal with regulators for repaying $20 billion to taxpayers and in order to escape government-imposed pay restrictions.

Citibank will raise funds with a Sale of $20.5 billion of equity and debt

Citigroup, is the only major U.S. lender that is still dependent on the government “exceptional financial assistance. The bank said in a statement today that with a sale of $20.5 billion of equity and debt the company will raise the funds.

Read the full story

Bank of America Corp. (BAC), who is the largest U.S. lender, has raised $19.3 billion by selling securities at $15 a piece in the biggest sale of stock or preferred shares by a U.S. public company .

This has been recorded as the biggest sale since at least 2000.

The bank, which has planned to repay $45 billion of U.S. rescue funds, has sold 1.286 billion so-called common equivalent securities.

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