By Andrea Heisinger
New York, April 30 - Wells Fargo & Co. sold $1.5 billion of 2.1% five-year senior holding company notes on Monday at a spread of 130 basis points over Treasuries, a source close to the trade said.
The paper priced in line with guidance in the 130 bps area, the source said.
The notes (A2/A+/AA-) were priced at 99.92 to yield 2.117%.The bonds are non-callable.
Wells Fargo Securities LLC was the bookrunner.
The bank and financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Senior holding company notes
|
| Amount: | $1.5 billion
|
| Maturity: | May 8, 2017
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Coupon: | 2.1%
|
| Price: | 99.92
|
| Yield: | 2.117%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Non-callable
|
| Trade date: | April 30
|
| Settlement date: | May 7
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Price talk: | 130 bps area
|
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