By Aleesia Forni
New York, March 1 – PNC Bank NA priced $1 billion of three-year senior bank notes (A2/A) on Tuesday at Treasuries plus 102 basis points, a market source said.
Pricing came at the tight side of the Treasuries plus 105 bps area guidance, which tightened from the 115 bps area over Treasuries.
Bookrunners were Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and PNC Capital Markets.
Proceeds will be used for general corporate purposes.
PNC is a Pittsburgh-based bank and holding company.
| Issuer: | PNC Bank NA
|
| Amount: | $1 billion
|
| Description: | Senior bank notes
|
| Maturity: | March 4, 2019
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, PNC Capital Markets
|
| Coupon: | 1.95%
|
| Spread: | Treasuries plus 102 bps
|
| Trade date: | March 1
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Price guidance: | Treasuries plus 105 bps area (+/- 3 bps), tightened from Treasuries plus 115 bps area
|
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