By Andrea Heisinger
New York, Feb. 6 - Wells Fargo & Co. sold $2 billion of 3.45% 10-year senior subordinated notes (A3/A/) on Wednesday at a spread of Treasuries plus 150 basis points, an informed source said.
Pricing was at 99.941 to yield 3.457%. The notes are non-callable.
Wells Fargo Securities LLC was the bookrunner.
Wells Fargo was last in the U.S. bond market with a $1.25 billion sale of five-year notes on Dec. 18, 2012.
The financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Senior subordinated notes
|
| Amount: | $2 billion
|
| Maturity: | Feb. 13, 2023
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Coupon: | 3.45%
|
| Price: | 99.941
|
| Yield: | 3.457%
|
| Spread: | Treasuries plus 150 bps
|
| Call: | Non-callable
|
| Trade date: | Feb. 6
|
| Settlement date: | Feb. 13
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
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