NEW YORK -- Wells Fargo & Co. and PNC Bank raised $750 million in the debt markets on Wednesday.
Wells Fargo issued $250 million of 10-year subordinated notes. They were priced to yield 6.20%, or 77 basis points over the 10-year Treasury note.
PNC Bank issued $500 million of one-year bank notes. The noncallable notes were priced to yield 3.547%, 9.5 basis points above the comparable Treasury bill.
Salomon Brothers Inc. was lead underwriter of both debt issues.