Wells Fargo & Company completed a $1 billion offering of fixed-to-floating rate senior notes linked to Compounded SOFR on May 19, 2021. The offering represented Wells Fargo’s inaugural issuance of a sustainability bond with the net proceeds of the offering directed to projects related to housing affordability, socioeconomic opportunity and renewable energy. Wells Fargo engaged BurgherGray LLP, a minority-owned law firm, as co-issuer’s counsel on the offering and also utilized diverse underwriters further underscoring its focus on initiatives.
Read Wells Fargo's press release for more information.
