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Wells Fargo offers $1 billion four-year fixed-to-floating sustainability notes; price talk set
By Marisa Wong and Cristal Cody
Los Angeles, May 12 – Wells Fargo & Co. is planning to issue $1 billion of senior redeemable fixed-to-floating rate sustainability notes due May 19, 2025, according to a 424B2 filing with the Securities and Exchange Commission and a market source.
Price talk is in the Treasuries plus 70 basis points to 75 bps area.
Wells Fargo Securities, LLC, Academy Securities, Inc., CastleOak Securities, LP, Penserra Securities LLC, Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC are the bookrunners.
Proceeds will be applied toward inclusive communities projects and climate projects.
The financial services company is based in San Francisco.
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