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Citibank Magyarország makes settlement offer to Lehman bond holders

Citibank Magyarország has made a settlement offer to all its clients holding Lehman Brothers structured bonds, the credit institution announced on Wednesday.

Citibank offers the opportunity to all of its clients concerned to sell their Lehman Brothers bonds under identical terms, at 55% of the original face value, with prompt cash payment.

The offer will be valid until May 21, 2010, and concerns all Citibank Magyarország clients who purchased their Lehman Brothers bonds through Citibank Magyarország.

Citibank stressed that it has made the settlement offer on a goodwill basis and continues to reject any claims of unlawful activity or legal obligations on the part of the bank. (MTI-ECONEWS)