Published on 2/8/2012 in the Prospect News Investment Grade Daily.
New Issue: Wells Fargo prices $2 billion 1.25% three-year notes at Treasuries plus 100 bps
By Andrea Heisinger
New York, Feb. 8 - Wells Fargo & Co. priced $2 billion of 1.25% three-year notes on Wednesday to yield 100 basis points over Treasuries, a source close to the trade said.
The source added that the deal was sold at the tight end of guidance in the 105 bps area.
The notes (A2/A+/AA-) were priced at 99.716 to yield 1.347%. The paper is non-callable.
Wells Fargo Securities LLC was the bookrunner.
Senior co-managers were Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
Barclays Capital Inc., BB&T Capital Markets, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Lebenthal & Co. LLC, Lloyds Securities Inc., Loop Capital Markets, Muriel Siebert & Co. Inc., National Bank of Canada Financial Inc., Natixis Securities America, LLC, RBC Capital Markets LLC, Samuel A. Ramirez & Co., Inc., Santander Investment Securities Inc., Scotia Capital USA Inc., TD Securities (USA) LLC and UBS Securities LLC were the junior co-managers.
The financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Maturity: | Feb. 13, 2015
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Senior co-managers: | Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Junior co-managers: | Barclays Capital Inc., BB&T Capital Markets, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Lebenthal & Co. LLC, Lloyds Securities Inc., Loop Capital Markets, Muriel Siebert & Co. Inc., National Bank of Canada Financial Inc., Natixis Securities America, LLC, RBC Capital Markets LLC, Samuel A. Ramirez & Co., Inc., Santander Investment Securities Inc., Scotia Capital USA Inc., TD Securities (USA) LLC, UBS Securities LLC
|
| Coupon: | 1.25%
|
| Price: | 99.716
|
| Yield: | 1.347%
|
| Spread: | Treasuries plus 100 bps
|
| Call: | Non-callable
|
| Trade date: | Feb. 8
|
| Settlement date: | Feb. 15
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Price talk: | 105 bps area
|
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