Published on 11/15/2007 in the Prospect News Investment Grade Daily.
New Issue: Wachovia Bank sells $1 billion 6% 10-year bank notes at Treasuries plus 195 bps
By Andrea Heisinger
Omaha, Nov. 15 - Wachovia Bank NA priced $1 billion of 6% 10-year subordinated bank notes Thursday to yield Treasuries plus 195 basis points, an informed source said.
The notes (Aa2/AA-) priced at 99.203 to yield 6.108% and are non-callable.
Wachovia Securities was the bookrunner.
| Issuer: | Wachovia Bank NA
|
| Issue: | Subordinated bank notes
|
| Amount: | $1 billion
|
| Maturity: | Nov. 15, 2017
|
| Bookrunner: | Wachovia Securities
|
| Coupon: | 6%
|
| Price: | 99.203
|
| Yield: | 6.108%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Non-callable
|
| Trade date: | Nov. 15
|
| Settlement date: | Nov. 21
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
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