By Aleesia Forni
Virginia Beach, Sept. 21 – Wells Fargo & Co. tapped Monday’s market to price a $2.5 billion offering of 3.55% 10-year senior holding company notes (A2/A+/AA-) with a spread of 137.5 basis points over Treasuries, an informed source said.
The notes sold at the tight end of guidance set in the Treasuries plus 140 bps area, following talk in the range of 145 bps to 150 bps over Treasuries.
Pricing was at 99.825 to yield 3.57%.
Wells Fargo Securities LLC is the bookrunner.
The bank is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Amount: | $2.5 billion
|
| Description: | Senior holding company notes
|
| Maturity: | Sept. 29, 2025
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Coupon: | 3.55%
|
| Price: | 99.825
|
| Yield: | 3.57%
|
| Spread: | Treasuries plus 137.5 bps
|
| Trade date: | Sept. 21
|
| Settlement date: | Sept. 28
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 140 bps area, tightened from Treasuries plus 145 bps to 150 bps
|
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