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Market Chatter: Wells Fargo Offering Investment-Grade Bonds

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Wells Fargo (WFC) is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported Wednesday, citing an unnamed source.

The longest-tenored bond is being offered with a spread of about 1 percentage point above US Treasuries, the report said, adding proceeds from the bonds are for general corporate purposes.

Bloomberg said the bond issuance comes a month after Wells Fargo reported weaker-than-expected Q1 results.

Wells Fargo didn't immediately respond to a request for comment by.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $74.53, Change: $-0.65, Percent Change: -0.86%

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