By Cristal Cody
Prospect News, Jan. 16 - Wells Fargo Canada Corp. (A2/A+/DBRS: AA) priced C$500 million of 10-year medium-term notes on Wednesday at par to yield 3.46%, an informed source said.
The notes priced at a spread of 150 basis points over the Canadian bond curve.
The offering is unconditionally guaranteed by Wells Fargo & Co.
RBC Capital Markets, BMO Capital Markets Corp. and CIBC World Markets Inc. were the lead managers. Co-managers were HSBC Capital (Canada) Inc., National Bank Financial Inc. and TD Securities Inc.
The issuer is a Canadian arm of San Francisco-based Wells Fargo.
| Issuer: | Wells Fargo Canada Corp.
|
| Guarantor: | Wells Fargo & Co.
|
| Amount: | C$500 million
|
| Maturity: | Jan. 24, 2023
|
| Securities: | Medium-term notes
|
| Bookrunners: | RBC Capital Markets, BMO Capital Markets Corp. and CIBC World Markets Inc.
|
| Co-managers: | HSBC Capital (Canada) Inc., National Bank Financial Inc. and TD Securities Inc.
|
| Coupon: | 3.46%
|
| Price: | Par
|
| Yield: | 3.46%
|
| Spread: | 150 bps over Canada bond curve
|
| Call feature: | Non-callable
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 24
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| DBRS: AA
|
| Distribution: | Canada
|
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