Published on 11/30/2007 in the Prospect News Investment Grade Daily.
New Issue: Wachovia prices $2.5 billion 6.6% 30-year bank notes at Treasuries plus 220 bps
By Andrea Heisinger
Omaha, Nov. 30 - Wachovia Bank NA priced $2.5 billion of 6.6% 30-year subordinated bank notes Friday to yield 220 basis points more than Treasuries, an informed source said.
The non-callable notes (Aa2/AA-) priced at 99.792 to yield 6.615%.
Wachovia Securities was the bookrunner.
| Issuer: | Wachovia Bank NA
|
| Issue: | Subordinated bank notes
|
| Amount: | $2.5 billion
|
| Maturity: | Jan. 15, 2038
|
| Bookrunner: | Wachovia Securities
|
| Coupon: | 6.6%
|
| Price: | 99.792
|
| Yield: | 6.615%
|
| Spread: | Treasuries plus 220 bps
|
| Call: | Non-callable
|
| Trade date: | Nov. 30
|
| Settlement date: | Dec. 7
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
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