Published on 3/23/2011 in the Prospect News Investment Grade Daily.
New Issue: Wells Fargo prices $500 million five-year notes at Libor plus 85 bps
By Susanna Moon
Chicago, March 23 - Wells Fargo & Co. priced $500 million of floating-rate notes (A1/AA-/AA-) due March 30, 2016 at par with a coupon of three-month Libor plus 85 basis points, according to 424B2 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the bookrunner, and Samuel A. Ramirez & Co., Inc. and Aladdin Capital LLC are the co-managers.
The bank and financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $500 million
|
| Maturity: | March 30, 2016
|
| Bookrunner: | Wells Fargo Securities, LLC
|
| Co-managers: | Samuel A. Ramirez & Co., Inc., Aladdin Capital LLC
|
| Coupon: | Libor plus 85 bps, payable quarterly
|
| Price: | Par
|
| Yield: | Libor plus 85 bps
|
| Trade date: | March 23
|
| Settlement date: | March 30
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
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