By Aleesia Forni
Virginia Beach, April 14 - Wells Fargo & Co. sold $2.15 billion of five-year senior notes (A2/A+/AA-) in fixed- and floating-rate tranches on Monday, according to a market source.
There was $400 million of floating-rate notes priced at par to yield Libor plus 46 basis points.
A $1.75 billion tranche of 2.125% notes sold at 99.788 to yield 2.17%, or Treasuries plus 57 bps.
Pricing was at the tight end of talk.
The bookrunner was Wells Fargo Securities LLC.
Wells Fargo is a San Francisco-based bank.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Senior notes
|
| Amount: | $2.15 billion
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | April 14
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Five-year floaters
|
| Amount: | $400 million
|
| Maturity: | April 22, 2019
|
| Coupon: | Libor plus 46 bps
|
| Price: | Par
|
| Yield: | Libor plus 46 bps
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | April 22, 2019
|
| Coupon: | 2.125%
|
| Price: | 99.788
|
| Yield: | 2.17%
|
| Spread: | Treasuries plus 57 bps
|
| Price talk: | Treasuries plus 60 bps area
|
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