Published on 2/1/2008 in the Prospect News Investment Grade Daily.
New Issue: PNC Bank prices $300 million 18-month floaters at 99.95 with Libor plus 40 bps coupon
By Andrea Heisinger
Omaha, Feb. 1 - PNC Bank priced $300 million 18-month floating-rate notes (Aa3/AA-) on Friday at 99.95 with a coupon of three-month Libor plus 40 basis points, market sources said.
Credit Suisse Securities LLC was the bookrunner.
The branch of PNC Financial Services is based in Pittsburgh.
| Issuer: | PNC Bank
|
| Issue: | Floating-rate notes
|
| Amount: | $300 million
|
| Maturity: | Aug. 5, 2009
|
| Bookrunner: | Credit Suisse Securities LLC
|
| Coupon: | Three-month Libor plus 40 bps
|
| Price: | 99.95
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb. 5
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
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