Published on 11/15/2007 in the Prospect News Investment Grade Daily.
New Issue: Wachovia Bank sells $1 billion 6% 10-year bank notes at Treasuries plus 195 bps
By Andrea Heisinger
Omaha, Nov. 15 - Wachovia Bank NA priced $1 billion of 6% 10-year subordinated bank notes Thursday to yield Treasuries plus 195 basis points, an informed source said.
The notes (Aa2/AA-) priced at 99.203 to yield 6.108% and are non-callable.
Wachovia Securities was the bookrunner.
Issuer: | Wachovia Bank NA
|
Issue: | Subordinated bank notes
|
Amount: | $1 billion
|
Maturity: | Nov. 15, 2017
|
Bookrunner: | Wachovia Securities
|
Coupon: | 6%
|
Price: | 99.203
|
Yield: | 6.108%
|
Spread: | Treasuries plus 195 bps
|
Call: | Non-callable
|
Trade date: | Nov. 15
|
Settlement date: | Nov. 21
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
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