New Issue: Wells Fargo sells $2 billion five-year floaters at Libor plus 93 bps

By Cristal Cody

Tupelo, Miss., Feb. 6 – Wells Fargo & Co. sold $2 billion of five-year senior floating-rate notes (A2/A/AA-) on Monday at par to yield Libor plus 93 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes priced tighter than initial price guidance in the Libor plus 95 bps to 100 bps area.

Wells Fargo Securities LLC was the bookrunner.

Proceeds will be used to add to the company’s general funds and will be available for general corporate purposes.

The financial services company is based in San Francisco.

Issuer:	Wells Fargo & Co.
Amount:	$2 billion
Description:	Senior floating-rate notes
Maturity:	Feb. 11, 2022
Bookrunner:	Wells Fargo Securities LLC
Co-managers:	CastleOak Securities, LP, Drexel Hamilton, LLC, MFR Securities, Inc.
Coupon:	Libor plus 93 bps
Price:	Par
Yield:	Libor plus 93 bps
Call feature:	Feb. 11, 2021 at par
Trade date:	Feb. 6
Settlement date:	Feb. 13
Ratings:	Moody’s: A2
	S&P: A
	Fitch: AA-
Distribution:	SEC registered
Price guidance:	Libor plus 95 bps-100 bps area

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