By Andrea Heisinger
Omaha, Jan. 28 - Wachovia Corp. priced $2.5 billion 5.75% 10-year notes Monday to yield Treasuries plus 223 basis points, an informed source said.
The non-callable notes (Aa3/AA-/AA-) have a price of 99.572 to yield 5.807%.
The notes priced tighter than talk, which was in the area of 225 bps more than Treasuries, the source said.
Wachovia Capital Securities LLC was the bookrunner.
The investment bank is based in Charlotte, N.C.
| Issuer: | Wachovia Corp.
|
| Issue: | Notes
|
| Amount: | $2.5 billion
|
| Maturity: | Feb. 1, 2018
|
| Bookrunner: | Wachovia Capital Securities LLC
|
| Coupon: | 5.75%
|
| Price: | 99.572
|
| Yield: | 5.807%
|
| Spread: | Treasuries plus 223 bps
|
| Call: | Non-callable
|
| Trade date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Price talk: | 225 bps area
|
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