By Aleesia Forni
Virginia Beach, Jan. 16 - Wells Fargo & Co. priced on Thursday a $1.5 billion issue of 3% seven-year senior notes with a spread of 75 basis points over Treasuries, a market source said.
The notes (A2/A+/) were priced at 99.831 to yield 3.027%.
Pricing was at the tight end of the Treasuries plus 75 bps to 80 bps talk.
Wells Fargo Securities LLC was the bookrunner.
The San Francisco-based bank will use the proceeds for general banking purposes.
| Issuer: | Wells Fargo & Co.
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Maturity: | Jan. 22, 2021
|
| Bookrunners: | Wells Fargo Securities LLC
|
| Coupon: | 3%
|
| Price: | 99.831
|
| Yield: | 3.027%
|
| Spread: | Treasuries plus 75 bps
|
| Trade date: | Jan. 16
|
| Settlement date: | Jan. 22
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Price talk: | Treasuries plus 75 bps to 80 bps area
|
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