Wells Fargo Real Estate Investment Corp 6.375% Cumulative Perpetual Preferred Stock Series A

Wells Fargo Real Estate Investment Corp (a division of Wells Fargo and a REIT) has sold a cumulative preferred issue with a coupon of 6.375%.  This is a quality issue for those that want investment grade.

We will add this to the 2013/2014 Investment Grade Income Portfolio model since there is cash in the model from redemptions and we have awaited new investment grade offerings.

Details of the issue are here.