Wells Fargo (WFC) Marketing 10-Year Notes

Wells Fargo (NYSE:WFC) isn't stopping at the implementation of a special dividend for the first quarter or its announced share buyback, as the company said it will also be offering 10-year notes in U.S. dollars for the first time since 2007.

A person familiar with the deal, said the "bank may issue $2.5 billion of the securities that yield 130 basis points more than similar-maturity Treasuries, according to a person familiar with the transaction. Proceeds will be used for general corporate purposes at the San Francisco-based lender," said Bloomberg.

Last week Wells Fargo said that it will pay a 7-cent-a- share special dividend in the first-quarter and buy back an additional 200 million shares after the Federal Reserve approved its capital plan.

Wells Fargo last sold 10-year notes in dollars in December 2007, issuing $3 billion of 5.625 percent securities, according to data compiled by Bloomberg. The notes fell 0.7 cent to 111 cents on the dollar yesterday, according to Trace, the bond- price reporting system of the Financial Industry Regulatory Authority.

Wells Fargo was trading at $31.53, falling $0.35, or 1.10 percent, as of 2:48 PM EDT.