May 2021

Wells Fargo Issues Inaugural Sustainability Bond

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. The Faegre Drinker team was led by Dawn Pruitt and included Mingli Wu, Renee Maass and Lisa Pugh. 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.

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