By Cristal Cody
Eureka Springs, Ark., Dec. 1 – Wells Fargo Bank NA sold $5 billion of bank notes in four tranches on Thursday, according to a market source.
The bank priced $700 million of two-year floating-rate notes at Libor plus 50 basis points.
Wells Fargo Bank sold $800 million of 1.8% two-year fixed-rate notes at 70 bps over Treasuries.
The $1 billion three-year floating-rate tranche priced at Libor plus 65 bps.
Wells Fargo Bank also sold $2.5 billion of 2.15% three-year fixed-rate notes at 77 bps over Treasuries.
Wells Fargo Securities LLC was the bookrunner.
The bank is a subsidiary of San Francisco-based Wells Fargo & Co.
| Issuer: | Wells Fargo Bank NA
|
| Amount: | $5 billion
|
| Description: | Bank notes
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | Dec. 1
|
|
|
| Two-year floaters
|
| Amount: | $700 million
|
| Maturity: | Nov. 28, 2018
|
| Coupon: | Libor plus 50 bps
|
|
|
| Two-year notes
|
| Amount: | $800 million
|
| Maturity: | Nov. 28, 2018
|
| Coupon: | 1.8%
|
| Spread: | Treasuries plus 70 bps
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Dec. 6, 2019
|
| Coupon: | Libor plus 65 bps
|
|
|
| Three-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | Dec. 6, 2019
|
| Coupon: | 2.15%
|
| Spread: | Treasuries plus 77 bps
|
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