Bank One Corp. plans to sell $2 billion of senior notes on Thursday, giving momentum to an expected surge in bank capital raising in the third quarter.

On Tuesday, Wells Fargo & Co., in a much smaller deal, arranged a sale of $250 million of three-year senior notes with a fixed rate of 6.375%. The deal is being done through a subsidiary, Minneapolis-based Norwest Financial Inc. It was priced at 80 basis points above Treasuries.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.