By Cristal Cody
Tupelo, Miss., Oct. 16 – Wells Fargo Bank NA sold $3.25 billion of senior bank notes (Aa2/AA-/AA-) in two tranches on Tuesday, according to a market source.
The bank priced $1 billion of three-year floating-rate notes at Libor plus 51 basis points.
A $2.25 billion tranche of 3.625% three-year notes priced at a Treasuries plus 68 bps spread.
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: | $3.25 billion
|
| Description: | Senior bank notes
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | Oct. 16
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Oct. 22, 2021
|
| Coupon: | Libor plus 51 bps
|
|
|
| Three-year notes
|
| Amount: | $2.25 billion
|
| Maturity: | Oct. 22, 2021
|
| Coupon: | 3.625%
|
| Spread: | Treasuries plus 68 bps
|
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