How dodgy is the Citibank-Abu Dhabi deal?

[hotmark777]

Am I the only one who is smelling something extremely fishy with this? Citibank are paying 11% yield on a 7.5 billion loan, while a company which is in grave danger of going under (Countrywide) paid 7.25% in a similar deal with Bank of America? Citibank bonds currently offer 6% yields.

Why did they opt for this very expensive form of funding (for an amount far from impossible to get through other means), or is there a bigger picture or something i am not understanding?

Could the Arabs have been politcally pressured to make such a move by the Americans, and is this some kind of undercover donation? What other reasons could there be?