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
09/24/201603:03:00Wells Fargo Taps Adviser on Pay -- WSJ
09/23/201616:55:00Wells Fargo Taps Shearman & Sterling to Advise on Executive Compensation...
09/23/201616:06:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/23/201614:33:35Current Report Filing (8-k)
09/23/201613:34:00Wells Fargo & Company (WFC) Alert: Shareholder Rights Law Firm...
09/23/201612:46:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/23/201611:10:00Investor Calls for Pay Clawback at Wells Fargo
09/23/201611:02:28Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/23/201610:59:00Investment Group Calls for Executive Clawback, Two New Board...
09/23/201603:02:00Pressure Intensifies On CEO At Wells -- WSJ
09/22/201622:57:00Wells Fargo Donates $250,000 to Support Community Healing Efforts...
09/22/201619:09:00Pressure Mounts on Wells Fargo CEO John Stumpf--Update
09/22/201618:49:00Political Fight Over CFPB Heats Up After Wells Fargo Scandal
09/22/201618:30:00Wells Fargo CEO Steps Down From Federal Reserve Advisory Council
09/22/201618:24:00Wells Fargo CEO John Stumpf Steps Down From Federal Reserve Advisory...
09/22/201617:30:00Democratic Senators Ask for Labor Department Probe of Wells Fargo
09/22/201617:30:00Yellen to Testify on Bank Supervision on Capitol Hill Wednesday
09/22/201617:18:00Democratic Senators Ask for Labor Department Probe of Wells Fargo
09/22/201615:00:27Current Report Filing (8-k)
09/22/201614:51:09Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

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 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad