By Andrea Heisinger
New York, July 22 - Wells Fargo Bank NA and Wells Fargo & Co. were in the market Monday with a $5 billion sale of notes in four parts, an informed source said.
Wells Fargo Bank priced $2 billion of two-year floating-rate senior bank notes (Aa3/AA-/AA-) at par to yield Libor plus 28 basis points.
The bank also priced $500 million of 0.75% two-year senior bank notes at 99.965 to yield 0.768% with a spread of Treasuries plus 47 bps.
Wells Fargo & Co. priced $800 million of three-year floating-rate senior holding company notes (A2/A+/AA-) at par to yield Libor plus 53 bps. They also sold a $1.7 billion tranche of 1.25% three-year senior holding company notes at 99.904 to yield 1.283%, or 70 bps over Treasuries.
All of the tranches are non-callable.
Wells Fargo Securities LLC ran the books.
Wells Fargo was last in the U.S. bond market with a $2 billion offering of five-year notes in two tranches on April 16.
The financial services company is based in San Francisco.
| Issuers: | Wells Fargo & Co., Wells Fargo Bank NA
|
| Amount: | $5 billion
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | July 22
|
| Settlement date: | July 29
|
|
|
| Two-year floaters
|
| Issuer: | Wells Fargo Bank NA
|
| Issue: | Senior bank notes
|
| Amount: | $2 billion
|
| Maturity: | July 20, 2015
|
| Coupon: | Libor plus 28 bps
|
| Price: | Par
|
| Yield: | Libor plus 28 bps
|
| Call: | Non-callable
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Two-year fixed-rate notes
|
| Issuer: | Wells Fargo Bank NA
|
| Issue: | Senior bank notes
|
| Amount: | $500 million
|
| Maturity: | July 20, 2015
|
| Coupon: | 0.75%
|
| Price: | 99.965
|
| Yield: | 0.768%
|
| Spread: | Treasuries plus 47 bps
|
| Call: | Non-callable
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Issuer: | Wells Fargo & Co.
|
| Issue: | Senior holding company notes
|
| Amount: | $800 million
|
| Maturity: | July 20, 2016
|
| Coupon: | Libor plus 53 bps
|
| Price: | Par
|
| Yield: | Libor plus 53 bps
|
| Call: | Non-callable
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Three-year fixed-rate notes
|
| Issuer: | Wells Fargo & Co.
|
| Issue: | Senior holding company notes
|
| Amount: | $1.7 billion
|
| Maturity: | July 20, 2016
|
| Coupon: | 1.25%
|
| Price: | 99.904
|
| Yield: | 1.283%
|
| Spread: | Treasuries plus 70 bps
|
| Call: | Non-callable
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
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