SAN FRANCISCO – Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo & Company (NYSE: WFC), announced today that the California Academy of Sciences  has selected it to serve as senior underwriter in the sale of $281,450,000 in federal income tax-exempt bonds. 

The bond issuance refinances all of the academy’s outstanding debt, which has been essential to the financial support of the academy’s growth at an important time in the 165-year-old institution’s history. The debt financed the construction of the academy’s current facility, including its renowned Steinhart Aquarium. Wells Fargo Securities led the structuring and marketing of the new Series 2018 bonds, which includes four series in floating‑rate index mode that mature in 2047, with a mandatory tender date in 2021.

“Wells Fargo Securities has been an outstanding partner,” said Ryan Diamond, director of finance at the academy. “Thanks to Wells Fargo Securities’ vision, we have been able to access public markets to refinance our debt as efficiently as possible to further our mission of exploring, explaining and sustaining life.” 

The academy, which includes an aquarium, planetarium, rainforest and natural history museum in the heart of San Francisco’s Golden Gate Park, has successfully used bank debt from Wells Fargo to construct and maintain its award-winning double LEED platinum facility, which will soon celebrate its 10^th anniversary. Wells Fargo has been the largest lender to the academy for the past seven years. Its relationship with the bank also includes treasury management, investment management and corporate trust services.

“The California Academy of Sciences is one of San Francisco’s cultural gems,” said Doug Brown, a director in Wells Fargo Securities’ Public Finance group, which serves Government & Institutional Banking clients. “We are honored to work with an institution that has brought so much joy and discovery to the Bay Area’s residents and visitors alike — my family included.”

The academy is one of the world’s leading science museums and research institutions dedicated to engaging the public through interactive exhibits, environmental literacy programs and rigorous scientific exploration. Welcoming more than 1.5 million visitors each year to its San Francisco facility — and reaching millions more through online programs and digital media — the institution is dedicated to providing access to science for all to shape a more sustainable future.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through 8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Wells Fargo Securities is the trade name for certain securities-related capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Bank, N.A., acting through its Municipal Products Group.

About California Academy of Sciences

The California Academy of Sciences is a renowned scientific and educational institution dedicated to exploring, explaining, and sustaining life on Earth. Based in San Francisco’s Golden Gate Park, it is home to a world-class aquarium, planetarium and natural history museum, as well as innovative programs in scientific research and education – all under one living roof.