Wells Fargo & Co
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Financials : Banks | Large Cap Blend
Company profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial. It provides retail, commercial and corporate banking services through banking locations and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries. It provides other financial services through its subsidiaries engaged in various businesses, including wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing services, investment advisory services, mortgage-backed securities servicing and venture capital investment.

Premarket

Last Trade
Delayed
$22.96
-0.32 (-1.37%)
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Market Hours

Closing Price
$23.28
Day's Change
0.00 (0.00%)
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Day's Low
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Volume
(Light)
Volume:
36,159

10-day average volume:
37,329,780
36,159

W. R. Berkley Corporation Announces Pricing of $250 Million of 4.25% Subordinated Debentures Due 2060

4:15 pm ET September 16, 2020 (BusinessWire) Print

W. R. Berkley Corporation (NYSE: WRB) (the "Company") announced today that it priced an offering of $250 million aggregate principal amount of 4.25% Subordinated Debentures due 2060 (the "Debentures"). The offering is expected to close on September 21, 2020, subject to customary closing conditions. The Company intends to apply to list the Debentures on the New York Stock Exchange under the symbol "WRB PR G." If approved for listing, the Company expects trading of the Debentures on the New York Stock Exchange to commence within 30 days after they are first issued. The net proceeds of the offering will be used to redeem the remaining $150 million aggregate principal amount of 5.625% Subordinated Debentures due 2053, with the remaining balance for general corporate purposes.

Morgan Stanley, BofA Securities, UBS Investment Bank and Wells Fargo Securities are joint book-running managers of the offering.

A shelf registration statement relating to the Debentures has been filed with the Securities and Exchange Commission ("SEC") and has become effective. This announcement is not an offer to sell the Debentures, and it is not soliciting an offer to buy the Debentures in any jurisdiction where the offer or sale is not permitted.

The offering of the Debentures will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement, final prospectus (when available) and the accompanying prospectus may be obtained by contacting Morgan Stanley & Co. LLC, toll-free at 1-866-718-1649 or prospectus@morganstanley.com, BofA Securities, Inc., toll-free at 1-800-294-1322 or dg.prospectus_requests@baml.com, UBS Securities LLC toll-free at 1-888-827-7275, or Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or wfscustomerservice@wellsfargo.com. Alternatively, you may obtain these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200916005911/en/

SOURCE: W. R. Berkley Corporation

Karen A. Horvath
Vice President - External
Financial Communications
203-629-3000
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