Citigroup Announces Consent Solicitation in Respect of Certain Associates First Capital Corporation Notes.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 3, 2003 Citigroup Citigroup U.S. holding company formed in 1998 from the merger of Citicorp (itself a holding company incorporated in 1967) and Travelers Group, Inc. The $70 billion merger included one of the largest U.S. investment banks, Salomon Smith Barney Inc. (NYSE NYSE See: New York Stock Exchange : C) announced today that its wholly-owned subsidiary Associates First Capital Corporation ("AFCC AFCC Association of Family and Conciliation Courts AFCC Air Force Communications Command AFCC Arts Foundation of Cape Cod AFCC Automotive Fuel Cell Cooperation Corp. (Daimler AG, Ford Motor Company, and Ballard Power Systems) ") is commencing the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of consents (the "U.S. Consent Solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with ") from holders of certain of AFCC's notes (the "Notes") to effect certain amendments to the indentures and fiscal agency agreement under which the Notes were issued. A list of the Notes that are the subject of the U.S. consent solicitation is attached to this release. Holders who validly provide consents to the proposed amendments on or prior to 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on December December: see month. 17, 2003, unless otherwise extended (the "Expiration Date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. "), will be eligible to receive a consent payment of $1 per $1,000 principal amount of Notes as to which consents are granted and accepted. AFCC is asking holders to substitute the present covenant covenant (kŭv`ənənt), agreement entered into voluntarily by two or more parties to do or refrain from doing certain acts. In the Bible and in theology the covenant is the agreement or engagement of God with man as revealed in the that restricts pledges PLEDGES, pleading. It was anciently necessary to find pledges or sureties to prosecute a suit, and the names of the pledges were added at the foot of the declaration; but in the course of time it became unnecessary to find such pledges because the plaintiff was no longer liable to be of AFCC assets to secure borrowings with a covenant that restricts pledges of stock of certain subsidiaries of Citicorp, the parent of AFCC. AFCC is also asking holders to consent to the removal of a covenant restricting re·strict tr.v. re·strict·ed, re·strict·ing, re·stricts To keep or confine within limits. See Synonyms at limit. [Latin restringere, restrict- : re-, it from engaging in transactions with affiliates and a covenant that requires the maintenance of its corporate existence. In addition, AFCC is asking holders to consent to the modification A change or alteration in existing materials. Modification generally has the same meaning in the law as it does in common parlance. The term has special significance in the law of contracts and the law of sales. of a covenant applicable to its obligations following a merger or consolidation. AFCC is seeking these changes because the existing covenants are not consistent with the covenants contained in Citigroup's other debt. These changes will create a more uniform covenant package and enable Citigroup to retain a consistent approach to funding. If the proposed amendments become effective with respect to the Notes of a series, then all Notes of that series will be subject to the proposed amendments. Concurrently con·cur·rent adj. 1. Happening at the same time as something else. See Synonyms at contemporary. 2. Operating or acting in conjunction with another. 3. Meeting or tending to meet at the same point; convergent. with the U.S. Consent Solicitation, Associates First Capital B.V. ("AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. B.V."), an affiliate Affiliate Relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company. See: Subsidiaries, parent company. of AFCC, will solicit consents of holders (the "Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and Consent Solicitation") of its (1) YEN YEN Youth Employment Network 35,000,000,000 1.45% guaranteed notes due March 8, 2005 and (2) YEN10,000,000,000 1.93% guaranteed notes due March 8, 2007 (the "Yen Notes") to amendments of certain provisions of the terms and the guarantee of the Yen Notes annexed to the fiscal agency agreements under which the Yen Notes were issued. Consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of the U.S. Consent Solicitation is subject, among other things, to AFCC receiving valid and unrevoked consents representing at least two-thirds in aggregate principal amount of each series of Notes outstanding under the indentures, and at least a majority in aggregate principal amount of the Notes outstanding under the fiscal agency agreement, the successful completion by March 31, 2004 of the Japanese Consent Solicitation, and to the satisfaction of certain other conditions described in the solicitation documents. AFC B.V. anticipates completing the Japanese Consent Solicitation in early January January: see month. of 2004, but cannot assure that the Japanese Consent Solicitation will be successful or that, if successful, it will be completed by this time. AFCC may also, in its sole discretion, waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such any of the conditions to the U.S. Consent Solicitation at any time prior to the Expiration Date. Citigroup Global Markets Inc. is the solicitation agent and Global Bondholder Bondholder A firm often has stockholders and bondholders. In a liquidation, the bondholders have first priority. bondholder An individual or institution that owns bonds in a corporation or other organization. Services Corporation is the information agent for the U.S. Consent Solicitation. Requests for documentation should be directed to Global Bondholder Services Corporation (Tel. No.: +1 212 430 3774 and +1 866 873 7700 (toll free), Fax. No.: +1 212 430 6683). Questions regarding the transaction and the procedures for consenting should be directed to Citigroup Global Markets Inc. (Tel. No.: +1 212 723 6106 (collect) or 800 558 3745 (toll free)). With respect to Notes issued under an Indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. , only holders of record as of 5:00 p.m., New York City time, on December 2, 2003 are eligible to consent. No record date is applicable to holders of Notes issued under the Fiscal Agency Agreement. This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any Notes. The U.S. Consent Solicitation is being made solely by the Consent Solicitation Statement dated December 3, 2003, copies of which are available from the information agent. Citigroup (NYSE: C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage BROKERAGE, contracts. The trade or occupation of a broker; the commissions paid to a broker for his services. , and asset management. Major brand names under Citigroup's trademark red umbrella umbrella, a small canopy used as a protection against the sun in China, Egypt, and elsewhere in remote antiquity. It was often an emblem of rank. During the Middle Ages the umbrella became almost extinct in Europe; its usefulness was not rediscovered until the late include Citibank CITIBANK First National City Bank , CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers Life and Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. . Additional information may be found at: www.citigroup.com.
AFCC NOTES INCLUDED IN THE U.S. CONSENT SOLICITATON
Indenture with Wachovia Bank, National Association
(Successor-in-Interest to First Union National Bank
and First Fidelity Bank, National Association, New Jersey),
dated as of July 15, 1993
(as Amended and Supplemented to the Date Hereof)
MEDIUM TERM NOTES, SERIES G
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
6.4 1/12/2004 US$2,000,000 0459035D9 1/11/1994
----------------------------------------------------------------------
6.42 1/12/2004 US$1,000,000 0459035A5 1/11/1994
----------------------------------------------------------------------
6.32 1/13/2004 US$5,300,000 0459035F4 1/13/1994
----------------------------------------------------------------------
6.44 1/15/2004 US$26,000,000 0459035E7 1/12/1994
----------------------------------------------------------------------
6.2 1/26/2004 US$20,000,000 0459035G2 1/26/1994
----------------------------------------------------------------------
6.39 2/17/2004 US$5,000,000 0459035T4 2/14/1994
----------------------------------------------------------------------
6.41 2/17/2004 US$5,000,000 0459035V9 2/15/1994
----------------------------------------------------------------------
6.52 3/1/2004 US$1,000,000 0459036D8 3/1/1994
----------------------------------------------------------------------
7 3/25/2004 US$2,000,000 0459036H9 3/25/1994
----------------------------------------------------------------------
7.08 4/1/2004 US$7,000,000 0459036J5 3/31/1994
----------------------------------------------------------------------
7.29 4/7/2004 US$2,000,000 0459036L0 4/7/1994
----------------------------------------------------------------------
7.58 4/12/2004 US$11,750,000 0459036N6 4/12/1994
----------------------------------------------------------------------
7.54 4/14/2004 US$15,000,000 0459036Q9 4/14/1994
----------------------------------------------------------------------
7.5 4/19/2004 US$500,000 0459036R7 4/19/1994
----------------------------------------------------------------------
7.53 4/29/2004 US$1,000,000 0459036T3 4/29/1994
----------------------------------------------------------------------
7.53 5/5/2004 US$100,000 0459036V8 5/5/1994
----------------------------------------------------------------------
7.94 5/17/2004 US$1,000,000 0459037C9 5/17/1994
----------------------------------------------------------------------
7.88 5/18/2004 US$1,000,000 0459037D7 5/18/1994
----------------------------------------------------------------------
7.64 5/26/2004 US$10,000,000 0459037E5 5/26/1994
----------------------------------------------------------------------
7.78 5/28/2004 US$10,000,000 0459037H8 5/31/1994
----------------------------------------------------------------------
7.55 6/1/2004 US$10,000,000 045906AK0 6/13/1994
----------------------------------------------------------------------
7.55 6/1/2004 US$20,000,000 045906AK0 6/13/1994
----------------------------------------------------------------------
7.625 6/1/2004 US$10,000,000 045906AM6 6/16/1994
----------------------------------------------------------------------
7.78 6/1/2004 US$1,000,000 0459037M7 6/1/1994
----------------------------------------------------------------------
7.88 6/2/2004 US$10,000,000 045906AC8 6/2/1994
----------------------------------------------------------------------
7.7 6/10/2004 US$10,000,000 045906AH7 6/10/1994
----------------------------------------------------------------------
7.6 6/15/2004 US$5,000,000 046003W86 6/16/1994
----------------------------------------------------------------------
7.68 6/22/2004 US$1,000,000 045906AP9 6/22/1994
----------------------------------------------------------------------
7.72 6/23/2004 US$4,000,000 045906AQ7 6/23/1994
----------------------------------------------------------------------
7.81 7/1/2004 US$5,000,000 045906BG8 7/1/1994
----------------------------------------------------------------------
7.92 7/13/2004 US$10,000,000 045906BU7 7/13/1994
----------------------------------------------------------------------
7.95 7/13/2004 US$10,000,000 045906BT0 7/13/1994
----------------------------------------------------------------------
7.88 7/14/2004 US$2,000,000 045906BV5 7/14/1994
----------------------------------------------------------------------
8.02 7/19/2004 US$15,000,000 045906CA0 7/19/1994
----------------------------------------------------------------------
7.97 7/20/2004 US$5,000,000 045906CC6 7/20/1994
----------------------------------------------------------------------
7.71 8/24/2004 US$12,250,000 045906CL6 8/24/1994
----------------------------------------------------------------------
7.8 9/15/2004 US$25,000,000 045906CT9 9/15/1994
----------------------------------------------------------------------
7.97 9/20/2004 US$5,000,000 045906CU6 9/20/1994
----------------------------------------------------------------------
8.25 10/15/2004 US$50,000,000 045906DD3 10/26/1994
----------------------------------------------------------------------
8.22 10/18/2004 US$250,000 045906CY8 10/18/1994
----------------------------------------------------------------------
8.26 10/20/2004 US$5,000,000 045906DA9 10/20/1994
----------------------------------------------------------------------
8.44 10/27/2004 US$3,000,000 045906DF8 10/27/1994
----------------------------------------------------------------------
8.5 11/1/2004 US$5,000,000 045906DJ0 10/31/1994
----------------------------------------------------------------------
8.625 11/15/2004 US$25,000,000 045906DN1 11/14/1994
----------------------------------------------------------------------
8.58 11/23/2004 US$18,000,000 045906DQ4 11/23/1994
----------------------------------------------------------------------
8.6 12/8/2004 US$10,000,000 045906DW1 12/8/1994
----------------------------------------------------------------------
8.48 12/28/2004 US$5,000,000 045906ED2 12/27/1994
----------------------------------------------------------------------
8.48 12/29/2004 US$5,000,000 045906EF7 12/29/1994
----------------------------------------------------------------------
8.55 1/12/2005 US$10,000,000 045906ER1 1/12/1995
----------------------------------------------------------------------
8.55 1/17/2005 US$5,000,000 045906EU4 1/17/1995
----------------------------------------------------------------------
8.49 1/31/2005 US$500,000 045906EV2 1/30/1995
----------------------------------------------------------------------
8.17 2/10/2005 US$2,000,000 045906EZ3 2/10/1995
----------------------------------------------------------------------
8.18 2/15/2005 US$25,000,000 045906EY6 2/10/1995
----------------------------------------------------------------------
7.97 3/1/2005 US$17,000,000 045906FE9 3/1/1995
----------------------------------------------------------------------
7.7 4/1/2005 US$31,525,000 045906GJ7 3/30/1995
----------------------------------------------------------------------
7.64 10/3/2005 US$5,000,000 045906GH1 3/31/1995
----------------------------------------------------------------------
Indenture with Citibank, N.A.,
dated as of October 15, 1994
(as Amended and Supplemented to the Date Hereof)
Individual Issuances
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
7.75 2/15/2005 US$298,000,000 046003FA2 2/13/1995
----------------------------------------------------------------------
6.625 6/15/2005 US$300,000,000 046003FF1 6/9/1995
----------------------------------------------------------------------
6.375 11/15/2005 US$200,000,000 046003FM6 11/21/1995
----------------------------------------------------------------------
MEDIUM TERM NOTES, SERIES H
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
7.7 4/11/2005 US$850,000 045906GL2 4/10/1995
----------------------------------------------------------------------
7.625 4/27/2005 US$60,000,000 045906GN8 4/27/1995
----------------------------------------------------------------------
7.18 5/25/2005 US$3,000,000 045906HC1 5/25/1995
----------------------------------------------------------------------
6.7 9/1/2005 US$4,800,000 045906KH6 10/12/1995
----------------------------------------------------------------------
6.65 10/13/2005 US$2,700,000 045906KK9 10/13/1995
----------------------------------------------------------------------
6.71 10/17/2005 US$5,000,000 045906KL7 10/16/1995
----------------------------------------------------------------------
6.54 10/24/2005 US$3,000,000 045906KQ6 10/24/1995
----------------------------------------------------------------------
6.57 10/24/2005 US$10,000,000 045906KR4 10/23/1995
----------------------------------------------------------------------
6.58 10/24/2005 US$5,000,000 045906KS2 10/23/1995
----------------------------------------------------------------------
6.56 11/14/2005 US$1,000,000 045906KW3 11/14/1995
----------------------------------------------------------------------
7.38 12/15/2005 US$14,930,000 045906PG3 6/10/1996
----------------------------------------------------------------------
6.3 1/10/2006 US$3,000,000 045906LJ1 1/10/1996
----------------------------------------------------------------------
6.2 2/6/2006 US$10,000,000 045906LZ5 2/6/1996
----------------------------------------------------------------------
6.26 2/15/2006 US$20,000,000 045906MF8 2/15/1996
----------------------------------------------------------------------
6.55 2/28/2006 US$25,000,000 045906MN1 3/7/1996
----------------------------------------------------------------------
6.52 3/6/2006 US$250,000 045906MM3 3/6/1996
----------------------------------------------------------------------
7.19 4/12/2006 US$1,000,000 045906MZ4 4/12/1996
----------------------------------------------------------------------
7.25 5/8/2006 US$27,000,000 045906NM2 5/6/1996
----------------------------------------------------------------------
7.28 5/8/2006 US$5,000,000 045906NL4 5/6/1996
----------------------------------------------------------------------
7.5 5/10/2006 US$5,000,000 045906NR1 5/10/1996
----------------------------------------------------------------------
7.44 5/12/2006 US$10,000,000 045906NS9 5/13/1996
----------------------------------------------------------------------
7.35 5/15/2006 US$10,000,000 045906NV2 5/15/1996
----------------------------------------------------------------------
7.38 5/15/2006 US$2,000,000 045906NT7 5/14/1996
----------------------------------------------------------------------
7.4 5/15/2006 US$5,000,000 045906NU4 5/14/1996
----------------------------------------------------------------------
7.23 5/17/2006 US$5,000,000 045906NZ3 5/17/1996
----------------------------------------------------------------------
7.24 5/17/2006 US$10,000,000 045906NY6 5/17/1996
----------------------------------------------------------------------
7.23 5/22/2006 US$12,000,000 045906PE8 5/22/1996
----------------------------------------------------------------------
7.25 5/22/2006 US$5,000,000 045906PD0 5/21/1996
----------------------------------------------------------------------
6.2 1/29/2007 US$500,000 045906LT9 1/29/1996
----------------------------------------------------------------------
Indenture with JPMorgan Chase Bank
(Successor-in-Interest to Bank One Trust Company, National
Association),
dated as of October 15, 1992
(as Amended and Supplemented to the Date Hereof)
SERIES A
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
7.95 2/15/2010 US$150,000,000 046003EG0 2/16/1993
----------------------------------------------------------------------
SERIES B
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
7.95 2/15/2010 US$100,000,000 046003EJ4 3/3/1993
----------------------------------------------------------------------
MEDIUM TERM NOTES, SERIES F
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
6.37 7/27/2005 US$10,000,000 045903U25 7/27/1993
----------------------------------------------------------------------
6.3 8/24/2005 US$5,000,000 045903W23 8/24/1993
----------------------------------------------------------------------
Indenture with JPMorgan Chase Bank
(Successor-in-Interest to The Chase Manhattan Bank),
dated as of September 15, 1987
(as Amended and Supplemented to the Date Hereof)
Individual Issuances
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
8.55 7/15/2009 US$200,000,000 046003DC0 7/19/1989
----------------------------------------------------------------------
Indenture with JPMorgan Chase Bank
(Successor-in-Interest to The Chase Manhattan Bank),
dated as of November 1, 1995
(as Amended and Supplemented to the Date Hereof)
Individual Issuances
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
5.5 2/15/2004 US$500,000,000 046003JY6 2/9/1999
----------------------------------------------------------------------
5.8 4/20/2004 US$1,500,000,000 046003KA6 4/20/1999
----------------------------------------------------------------------
1.24 FRN 6/15/2004 US$988,000,000 046003KK4 6/27/2000
----------------------------------------------------------------------
1.24 FRN 6/25/2004 US$975,800,000 046008HJ0 6/26/2003
----------------------------------------------------------------------
6.1 1/15/2005 US$300,000,000 046003JH3 1/9/1998
----------------------------------------------------------------------
6.2 5/16/2005 US$200,000,000 046003JM2 5/26/1998
----------------------------------------------------------------------
6 7/15/2005 US$500,000,000 046003JQ3 7/30/1998
----------------------------------------------------------------------
6.25 11/1/2008 US$1,500,000,000 046003JT7 10/30/1998
----------------------------------------------------------------------
7 12/8/2008 US$50,000,000 046003JV2 12/8/1998
----------------------------------------------------------------------
7 2/10/2009 US$50,000,000 046003JW0 2/10/1999
----------------------------------------------------------------------
6.95 11/1/2018 US$1,000,000,000 046003JU4 10/30/1998
----------------------------------------------------------------------
5.96 5/15/2037 US$40,245,000 046003HV4 5/21/1997
----------------------------------------------------------------------
MEDIUM TERM NOTES, SERIES I
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
7.26 4/19/2004 US$10,000,000 045906QB3 4/18/1997
----------------------------------------------------------------------
7.45 6/28/2006 US$1,000,000 045906PJ7 6/28/1996
----------------------------------------------------------------------
7.55 7/17/2006 US$30,000,000 045906PL2 7/15/1996
----------------------------------------------------------------------
7.375 8/1/2006 US$10,000,000 045906PP3 7/29/1996
----------------------------------------------------------------------
7.24 8/15/2006 US$20,000,000 045906PS7 8/6/1996
----------------------------------------------------------------------
Indenture with JPMorgan Chase Bank
(Successor-in-Interest to The Chase Manhattan Bank),
dated as of November 1, 1995
(as Amended and Supplemented to the Date Hereof)
Individual Issuance
----------------------------------------------------------------------
6.875 11/15/2008 US$300,000,000 046003HS1 11/8/1996
(Subordinated)
----------------------------------------------------------------------
Indenture with Deutsche Bank Trust Americas
(Successor-in-Interest to Bankers Trust Company),
dated as of December 1, 1985
(as Amended and Supplemented to the Date Hereof)
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding Id Cusip Issue Date
----------------------------------------------------------------------
8.15 8/1/2009 US$125,000,000 046003DD8 8/8/1989
----------------------------------------------------------------------
Fiscal Agency Agreement with Associates First Capital Corporation
(Successor-in-interest to Associates Corporation of North America),
Citibank, N.A., London and Citibank, N.A., Paris
dated as of June 19, 1996
(as Amended and Supplemented to the Date Hereof)
----------------------------------------------------------------------
Amount
Coupon Maturity Outstanding ISIN Issue Date
----------------------------------------------------------------------
7.375 6/11/2007 US$500,000,000 XS0076993103 6/11/1997
----------------------------------------------------------------------
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