Citigroup Inc. (NYSE: C) announced Thursday that the company will repurchase approximately $7.32 billion in senior notes, according to Associated Press.
The repurchasing will be part of its plan to use excess cash to retire older debt that will soon be due.
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The offer will expire on Feb. 3.
On Tuesday, Citigroup reported a fourth-quarter loss of $7.77 billion loss, citing failed loans and the costs of repaying $20 billion in government bailout money.
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