By Aleesia Forni
Virginia Beach, May 27 - Wells Fargo & Co. was in Tuesday's market with a $4.5 billion three-part offering of senior notes, according to an informed source.
The bank priced $700 million of three-year floating-rate notes at par to yield Libor plus 30 basis points.
It also offered $1.3 billion of 1.15% three-year notes that priced at 99.874 to yield 1.193%, or Treasuries plus 42 bps.
A $2.5 billion 4.1% 12-year subordinated note sold with a spread of Treasuries plus 160 bps. This tranche sold at 99.897 to yield 4.111%.
Wells Fargo & Co. LLC was the bookrunner.
Wells Fargo is a San Francisco-based bank.
| Issuer: | Wells Fargo & Co.
|
| Amount: | $4.5 billion
|
| Bookrunner: | Wells Fargo & Co. LLC
|
| Trade date: | May 27
|
| Settlement date: | June 3
|
| Distribution: | SEC-registered
|
|
|
| Three-year floaters
|
| Amount: | $700 million
|
| Issue: | Floating-rate notes
|
| Maturity: | 2017
|
| Coupon: | Libor plus 30 bps
|
| Price: | Par
|
| Yield: | Libor plus 30 bps
|
| Price talk: | Libor equivalent to three-year notes
|
|
|
| Three-year notes
|
| Amount: | $1.3 billion
|
| Issue: | Notes
|
| Maturity: | 2017
|
| Coupon: | 1.15%
|
| Price: | 99.874
|
| Yield: | 1.193%
|
| Spread: | Treasuries plus 42 bps
|
| Price guidance: | Treasuries plus mid- to high-40 bps area
|
|
|
| Twelve-year notes
|
| Amount: | $2.5 billion
|
| Issue: | Subordinated notes
|
| Maturity: | 2026
|
| Coupon: | 4.1%
|
| Price: | 99.897
|
| Yield: | 4.111%
|
| Spread: | Treasuries plus 160 bps
|
| Price guidance: | Treasuries plus 170 bps area
|
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