By Andrea Heisinger
Omaha, April 22 - Wachovia Corp. priced an upsized $3.5 billion of notes (Aa3/AA-/AA-) in two tranches Tuesday, an informed source said.
The issue was increased by adding a floating-rate tranche.
A $2.85 billion tranche of 5.5% five-year fixed-rate notes priced at 99.774 to yield 5.552%, or Treasuries plus 260 basis points. They are non-callable.
A $650 million tranche of five-year floaters priced at par to yield three-month Libor plus 177 bps.
Wachovia Capital Securities LLC was bookrunner.
The financial services company is based in Charlotte, N.C.
| Issuer: | Wachovia Corp.
|
| Amount: | $3.5 billion
|
| Bookrunner: | Wachovia Capital Securities LLC
|
| Trade date: | April 22
|
| Settlement date: | April 25
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Fixed-rate tranche
|
| Amount: | $2.85 billion
|
| Issue: | Fixed-rate notes
|
| Maturity: | May 1, 2013
|
| Coupon: | 5.5%
|
| Price: | 99.774
|
| Yield: | 5.552%
|
| Spread: | Treasuries plus 260 bps
|
| Call: | Non-callable
|
|
|
| Floating-rate tranche
|
| Amount: | $650 million
|
| Issue: | Floating-rate notes
|
| Maturity: | May 1, 2013
|
| Coupon: | Three-month Libor plus 177 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 177 bps
|
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