Published on 4/17/2013 in the Prospect News Investment Grade Daily.
New Issue: Wells Fargo sells $2 billion bonds in new, reopened five-year tranches
By Andrea Heisinger
New York, April 17 - Wells Fargo & Co. priced $2 billion of notes (A2/A+/AA-) in two tranches, according to 424B2 filings with the Securities and Exchange Commission on Wednesday.
A $1.15 billion tranche of five-year medium-term floating-rate notes sold at par to yield Libor plus 63 basis points.
There was also a reopening of 1.5% notes due 2018 to add $850 million. The new bonds priced at 100.241 to yield 1.447% with a spread of Treasuries plus 75 bps.
Total issuance is $2.1 billion, including $1.25 billion priced on Dec. 18, 2012 at Treasuries plus 78 bps.
Wells Fargo Securities LLC was the bookrunner.
The financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Medium-term notes
|
| Amount: | $2 billion
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Senior co-managers: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Co-managers: | Apto Partners, LLC, Barclays, BB&T Capital Markets LLC, BMO Capital Markets Corp., BofA Merrill Lynch, National Bank of Canada Financial Inc., RBC Capital Markets LLC, UBS Securities LLC, CastleOak Securities LP, CIBC World Markets Corp., Deutsche Bank Securities Inc., Drexel Hamilton LLC, HSBC Securities (USA) Inc., ING Financial Markets LLC, Lebenthal & Co. LLC, Lloyds Securities Inc.
|
| Trade date: | April 16
|
| Settlement date: | April 23
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Five-year floaters
|
| Amount: | $1.15 billion
|
| Maturity: | April 23, 2018
|
| Coupon: | Libor plus 63 bps
|
| Price: | Par
|
| Yield: | Libor plus 63 bps
|
|
|
| Notes due 2018
|
| Amount: | $850 million, reopened
|
| Maturity: | Jan. 16, 2018
|
| Coupon: | 1.5%
|
| Price: | 100.241
|
| Yield: | 1.447%
|
| Spread: | Treasuries plus 75 bps
|
| Total issuance: | $2.1 billion, including $1.25 billion sold on Dec. 18, 2012
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
