SAN FRANCISCO – August 26, 2021 –  Wells Fargo Commercial Capital, part of Wells Fargo & Company (NYSE: WFC), announced today that it has provided an integrated working capital financing solution to Southwire Company, LLC, one of North America’s leading manufacturers of wire and cable.

The capital structure provided by Wells Fargo includes a $1 billion sustainability-linked asset-based facility which, combined with an existing supplier finance program, allows Southwire to maximize its working capital flexibility, and enhance its day-to-day management of commercial activities.

“Consummation of the sustainability-linked facility is a significant milestone toward aligning our continued success in achieving our growth strategy and our goal of eliminating 100% of greenhouse gas emissions from our operations by the end of 2025 — what we’re calling Carbon Zero,” said Guyton Cochran, Southwire’s executive vice president and chief financial officer.  

“Structuring this unique, integrated working capital solution for Southwire gave us the opportunity to demonstrate how our various asset-based lending and supply chain finance solutions work together to help meet a broad range of our clients’ evolving strategic priorities,” said David Marks, head of Wells Fargo Commercial Capital. “We are very pleased to expand our relationship with Southwire to help support their continued growth and sustainability goals.”

About Southwire

A leader in technology and innovation, Southwire Company, LLC is one of North America’s largest wire and cable producers. Southwire and its subsidiaries manufacture building wire and cable, metal-clad cable, portable and electronic cord products, utility products, OEM wire products and engineered products. In addition, Southwire supplies assembled products, contractor equipment and hand tools. For more on Southwire’s products, its community involvement and its vision of sustainability, visit www.southwire.com.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

Contact Information

Media

Trisha Schultz

310-625-3272

Trisha.Schultz@wellsfargo.com