Wells and PNC Bank raise $750 million.

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.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER