By Cristal Cody
Eureka Springs, Ark., May 25 – Wells Fargo Bank NA priced $2.25 billion of three-year bank notes (Aa2/AA-/AA) in fixed- and floating-rate tranches on Wednesday, according to a market source.
A $500 million floating-rate tranche of three-year notes priced at Libor plus 60 basis points.
Wells Fargo Bank sold $1.75 billion of 1.75% three-year fixed-rate notes with a spread of 70 bps over Treasuries.
Wells Fargo Securities, LLC was the bookrunner.
The Sioux Falls, S.D.-based bank is a subsidiary of Wells Fargo & Co.
| Issuer: | Wells Fargo Bank NA
|
| Amount: | $2.25 billion
|
| Securities: | Bank notes
|
| Bookrunner: | Wells Fargo Securities, LLC
|
| Pricing date: | May 25
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Fitch: AA
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | May 24, 2019
|
| Coupon: | Libor plus 60 bps
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $1.75 billion
|
| Maturity: | May 24, 2019
|
| Coupon: | 1.75%
|
| Spread: | Treasuries plus 70 bps
|
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