By Cristal Cody
Eureka Springs, Ark., April 21 – Wells Fargo & Co. priced a $500 million reopening of its 3% 10-year senior notes at 99.205 on Wednesday, according to a market source and a 424B2 filing with the Securities and Exchange Commission.
The notes due April 22, 2026 (A2/A/AA-) priced with a spread of 125 basis points over Treasuries.
Wells Fargo originally sold $3 billion of the notes on Friday at 99.657 to yield 3.04%, or Treasuries plus 130 bps.
The total outstanding is $3.5 billion.
Wells Fargo Securities, LLC was the bookrunner.
San Francisco-based Wells Fargo provides retail, commercial and corporate banking services.
| Issuer: | Wells Fargo & Co.
|
| Amount: | $500 million reopening
|
| Maturity: | April 22, 2026
|
| Securities: | Senior notes
|
| Bookrunner: | Wells Fargo Securities, LLC
|
| Coupon: | 3%
|
| Price: | 99.205
|
| Spread: | Treasuries plus 125 bps
|
| Trade date: | April 20
|
| Settlement date: | April 22
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
| Total outstanding: | $3.5 billion, including $3 billion priced on April 15 at 130 bps over Treasuries
|
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