By Cristal Cody
Tupelo, Miss., Jan. 16 – Wells Fargo Bank NA sold $6 billion of senior bank notes (Aa2/AA-/AA-) in four tranches on Tuesday, according to a market source.
The bank priced $1 billion of two-year floating-rate notes at Libor plus 23 basis points.
Wells Fargo Bank sold $1.75 billion of 2.4% two-year notes at a Treasuries plus 43 bps spread.
In the three-year floating-rate tranche, Wells Fargo Bank priced $750 million of notes at Libor plus 31 bps.
Wells Fargo Bank sold $2.5 billion of 2.6% three-year notes with a spread of 50 bps over Treasuries.
The bookrunner was Wells Fargo Securities LLC.
The bank is a subsidiary of San Francisco-based Wells Fargo & Co.
| Issuer: | Wells Fargo Bank NA
|
| Amount: | $6 billion
|
| Description: | Senior bank notes
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | Jan. 16
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Fitch: AA-
|
|
|
| Two-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Jan. 15, 2020
|
| Coupon: | Libor plus 23 bps
|
|
|
| Two-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | Jan. 15, 2020
|
| Coupon: | 2.4%
|
| Spread: | Treasuries plus 43 bps
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Maturity: | Jan. 15, 2021
|
| Coupon: | Libor plus 31 bps
|
|
|
| Three-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | Jan. 15, 2021
|
| Coupon: | 2.6%
|
| Spread: | Treasuries plus 50 bps
|
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