By Cristal Cody
Tupelo, Miss., Jan. 23 - Wells Fargo Canada Corp. (A2/A+/DBRS: AA) sold an upsized C$1.25 billion of 3.04% medium-term notes due Jan. 29, 2021 at a spread of 107 basis points over the Government of Canada bond curve on Thursday, according to an informed source.
The notes (A2/A+/DBRS: AA) priced at 99.956 to yield 3.047%.
The deal was upsized from $750 million.
BMO Nesbitt Burns Inc., CIBC World Markets Inc. and TD Securities Inc. were the lead managers.
The notes are unconditionally guaranteed by parent company Wells Fargo & Co.
Wells Fargo Canada is a financial services company based in Mississauga, Ont.
| Issuer: | Wells Fargo Canada Corp.
|
| Guarantor: | Wells Fargo & Co.
|
| Amount: | C$1.25 billion
|
| Maturity: | Jan. 29, 2021
|
| Securities: | Medium-term notes
|
| Bookrunners: | BMO Nesbitt Burns Inc., CIBC World Markets Inc. and TD Securities Inc.
|
| Co-managers: | HSBC Securities (Canada) Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
|
| Coupon: | 3.04%
|
| Price: | 99.956
|
| Yield: | 3.047%
|
| Spread: | 107 bps over Government of Canada bond curve
|
| Call feature: | None
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 30
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| DBRS: AA
|
| Distribution: | Canada
|
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