Wells Fargo to sell $6 bln in FDIC-backed debt-IFR

NEW YORK, Dec 3 (Reuters) - Wells Fargo (WFC.N) plans to sell $6 billion in bonds on Wednesday in a two-part deal backed by the Federal Deposit Insurance Corp, according to IFR.

The bank plans to sell $3 billion of 3-year fixed-rate bonds expected to price at a yield spread of midswaps plus 85 basis points, said IFR, a Thomson Reuters service.

It is also planning to offer $3 billion of 3-year floating-rate notes expected to price at the 3-month London interbank offered rate plus 85 basis points.

The bank is tapping the U.S. government's Temporary Liquidity Guarantee Program, which offers full backing to debt of up to three years' maturity issued by financial institutions.

So far, U.S. banks have sold $31 billion of debt under the program. (Reporting by Ciara Linnane; Editing by James Dalgleish)