Wells Fargo & Co. is seizing a bigger share of U.S.corporate bond sales, underwriting its highest portion of deals onrecord this year as the bank climbs the ranks after buying WachoviaCorp. in 2008.

Wells Fargo, the fourth-largest U.S. bank by assets, hasunderwritten 5 percent of this year's sales, excluding self-leddeals, up from 3.6 percent in 2009, according to data compiled byBloomberg. The bank has aided borrowers from Clorox Co. to NewfieldExploration Co. in sales of $48.3 billion, ranking it as the eighthmost active underwriter of the debt. That's up from 11th in2010.

The lender has sought to expand its investment banking businessafter acquiring much of the operation from Wachovia. An earlytarget for expansion was debt underwriting, in units frominvestment-grade and high-yield corporate bonds to leveraged loans.The bank has built market share since the financial crisis, takingadvantage of its large deposit base and limited presence inEurope.

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