By Aleesia Forni
Virginia Beach, Jan. 26 – Wells Fargo & Co. priced $2.65 billion of five-year senior notes (A2/A+/AA-) in fixed- and floating-rate tranches on Monday, according to an informed source.
The company sold $650 million of five-year floaters at par to yield Libor plus 68 basis points.
There was also a $2 billion tranche of 2.15% five-year notes sold at 99.864 to yield 2.179%, or Treasuries plus 85 bps.
The notes sold at the tight end of guidance.
Wells Fargo & Co. LLC was the bookrunner.
Proceeds will be used for general corporate purposes.
The bank is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Senior notes
|
| Amount: | $2.65 billion
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | Jan. 26
|
| Settlement date: | Feb. 2
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $650 million
|
| Maturity: | Jan. 30, 2020
|
| Coupon: | Libor plus 68 bps
|
| Price: | Par
|
| Yield: | Libor plus 68 bps
|
| Price talk: | Libor equivalent
|
|
|
| Five-year fixed-rate notes
|
| Amount: | $2 billion
|
| Maturity: | Jan. 30, 2020
|
| Coupon: | 2.15%
|
| Price: | 99.864
|
| Yield: | 2.179%
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | 90 bps area
|
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