Wells Fargo gives results of tender offer for 3.45% notes due 2023

By Rebecca Melvin

Concord, N.H., Jan. 25 – Wells Fargo & Co. subsidiary Wells Fargo Securities, LLC announced the final results of its Jan. 18 cash tender offer for any and all of its $2 billion outstanding 3.45% notes due Feb. 13, 2023 (Cusip: 94974BFJ4), according to a news release.

As of 5 p.m. ET on Jan. 24, Wells Fargo Securities accepted for purchase $926,692,000 aggregate principal amount of securities validly tendered and not validly withdrawn. An additional $4,595,000 principal amount of securities remain subject to guaranteed delivery procedures. The firm will pay $952,500,372 excluding accrued interest for the accepted securities excluding those subject to guaranteed delivery procedures. It expects to make payment for the securities on Jan. 25.

As previously reported, a spread of 16 basis points over Treasuries was used to set the total consideration of $1,027.85. The company will also pay accrued interest.

D.F. King & Co., Inc. (212 269-5550, 800 967-4607, wfc@dfking.com, www.dfking.com/wfc) is serving as the tender agent and information agent.

The offeror is Wells Fargo Securities (866 309-6316, 704 410-4759, liabilitymanagement@wellsfargo.com).

The financial services company is based in San Francisco.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.