It doesn\u2019t seem like the commercial real estate business can get much leverage these days. On Tuesday, Citigroup Inc. indicated its intention to raise $5.5 billion through a debt offering under the Federal Deposit Insurance Corp.’s temporary guarantee program, CNNMoney.com reported. The $5.5 billion in debt will be split among three bonds, one of which matures in two years while the other two mature in three years by offering bonds through the government’s Temporary Liquidity Guarantee program, which was created Oct. 14 to help prop up the troubled financial system. CNNMoney.com stated that other financial institutions including Goldman Sachs Group Inc. and General Electric Co. ‘s GE Capital have signed up for the program as well. Fortune reported that General Electric shares rallied more than 13 percent Tuesday after executives vowed to preserve the company’s dividend and work to maintain its triple-A credit rating despite whether GE can realistically keep either promise.Another round of economic readings including a report on private-sector payrolls followed by a reading on productivity will be released this morning. After the market opens, reports on ISM Services and the Fed’s Beige Book of economic conditions are due, CNNMoney.com indicated. The Wall Street Journal wrote that American International Group Inc. wants to sell assets to repay its massive government loan, then seek to renegotiate the terms of its rescue package. As the government has upped its $150 billion package, an AIG executive told the Journal that the goal is to pay all of the loan back. MarketWatch reported that United States Steel Corp. said late Tuesday that it will idle three plants and consolidate production at others over the next several weeks affecting about 3,500 employees. French energy giant EDF made a $4.5 billion offer for assets of wholesale power generator Constellation Energy after Constellation agreed to a takeover by MidAmerican, a unit of Warren Buffett’s Berkshire Hathaway, according to CNNMoney.com. Additionally, CNNMoney.com said mortgage rates fell sharply yesterday after the administration announced that it will pump another $800 billion into credit markets to free up frozen consumer and mortgage lending.<\/p>\n","protected":false},"excerpt":{"rendered":"
It doesn\u2019t seem like the commercial real estate business can get much leverage these days. On Tuesday, Citigroup Inc. indicated its intention to raise $5.5 billion through a debt offering under the Federal Deposit Insurance Corp.’s temporary guarantee program, CNNMoney.com reported. The $5.5 billion in debt will be split among three bonds, one of which…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003918748","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n