ADVFN - Advanced Financial Network.
HOME» NYSE » W » WFC Stock Price » WFC Stock News

Wells Fargo Share News

 Wells Fargo & Co. (new) Stock Price
WFC Stock Price
 Wells Fargo & Co. (new) Stock Chart
WFC Stock Chart
 Wells Fargo & Co. (new) Stock News
WFC Stock News
 Wells Fargo & Co. (new) Company Information
WFC Company Information
 Wells Fargo & Co. (new) Stock Trades
WFC Stock Trades

Wells Fargo Issues Largest Bank Bond in Three Months

Corporate bond issuance is usually sleepy on days when the Federal Reserve is set to announce its update to monetary policy, but continued market stability convinced Wells Fargo & Co. (WFC) there was an opportunity to sell $2.75 billion of bonds. The deal marks the largest U.S. marketed bank bond issue since March 14, when Nordea Bank AB (NRDEF, NDA.SK) sold a $2.75 billion issue, according to data provider Dealogic. Wells Fargo hasn't issued a deal of this size since March 2009. Wells is offering $2 billion of fixed-rate bonds at 1.15 percentage points over the Treasury rate, plus $750 million of floating-rate notes at 0.92 percentage points over the three-month London interbank offered rate, or Libor. The Libor rate is 0.47 percentage points this week, according to Bankrate.com. The bonds are expected to be rated A2 by Moody's Investors Service, A-plus by Standard & Poor's, and AA-minus by Fitch Ratings. Elsewhere, Brasil Foods added $250 million to a $500 million, 10-year sale of 5.875% notes from last month. The add-on was priced at $102.839 per $100 of face value, yielding 5.50%, or 3.853 percentage points over Treasurys. The two deals bring the week's high-grade volume tally to $12.1 billion, according to Dealogic, in line with expectations that between $10 billion and $15 billion would be sold this week. Greg Hall, managing director in debt capital markets at Barclays, said issuers are using whatever windows of stability are available to them. "Another incentive for going to market now rather than waiting is the fact that many issuers will enter earnings blackout over the next few weeks and the summer slowdown will start to take effect in late July," Mr. Hall added. Bonds in the secondary market rallied ahead of the Fed meeting and were little changed after the central bank said it would continue its long-bond buying program through the end of the year. The program, dubbed Operation Twist, was previously scheduled to conclude at the end of this month. Fourteen of the 15 most active bonds in the secondary market outperformed Treasurys in late-trading, according to MarketAxess, and Markit's CDX Investment Grade Index, a proxy for corporate bond health, strengthened 0.6%. Write to Patrick McGee at patrick.mcgee@dowjones.com

Stock News for Wells Fargo (WFC)
DateTimeHeadline
07/18/201418:44:35Rise in Fee-Based Business Helps Boost Broker Productivity
07/17/201408:25:40Wells Fargo CEO: Real Economy Stronger Than People Think -CNBC
07/13/201406:18:25MARKET SNAPSHOT: Tech, Bank Earnings To Test Economic Recovery
07/11/201416:21:05MARKET SNAPSHOT: U.S. Stocks Finish With Small Gains, Trim Weekly...
07/11/201415:12:41MARKET SNAPSHOT: U.S. Stocks Pick Up; Amazon Rallies
07/11/201411:21:46MARKET SNAPSHOT: U.S. Stocks: Genworth, Fastenal Losses Weigh...
07/11/201409:28:55MARKET SNAPSHOT: U.S. Stocks: Futures Rebound; Wells Fargo Meets...
07/11/201409:26:59U.S. Hot Stocks: Hot Stocks to Watch
07/11/201408:10:33MARKET SNAPSHOT: U.S. Stocks: Futures Rebound; Wells Fargo Earnings...
07/11/201406:32:36MARKET SNAPSHOT: U.S. Stocks: Futures Rebound Ahead Of Wells...
07/10/201418:45:11A Difficult Quarter Again Seen for Banks
07/10/201417:42:36Morgan Stanley Recruits Brokers From Wells Fargo, Merrill --Street...
07/10/201416:19:11MARKET SNAPSHOT: U.S. Stocks End Lower; Europe Worries Resurface
07/09/201416:17:52Wells Fargo Recruits Brokers From Rival UBS --Street Moves
07/07/201417:15:59MARKET SNAPSHOT: U.S. Stocks End Lower; Biotechs, Internet Stock...
07/07/201412:18:59MARKET SNAPSHOT: U.S. Stock Market Losses Led By Small Companies
07/07/201410:09:46MARKET SNAPSHOT: U.S. Stocks Retreat From Record Levels
07/07/201407:10:50MARKET SNAPSHOT: U.S. Stocks: Futures Down; ADM In $3 Billion...
07/07/201406:05:54MARKET SNAPSHOT: U.S. Stocks: Futures Slip; ADM In $3 Billion...
07/06/201406:18:12MARKET SNAPSHOT: Stock Valuations Riding On Stellar Earnings...

Wells Fargo and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad