By Andrea Heisinger
New York, Sept. 16 - PNC Funding Corp. priced $500 million of 4.25% six-year senior notes Wednesday to yield Treasuries plus 185 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A/A+) priced at 99.822 to yield 4.284%. They are non-callable.
Bookrunners were Goldman Sachs & Co. and J.P. Morgan Securities. The co-manager was PNC Capital Markets.
The deal is guaranteed by PNC Financial Services Group, Inc.
Proceeds will be used for general corporate purposes.
The financial services company is based in Pittsburgh.
| Issuer: | PNC Funding Corp.
|
| Guarantor: | PNC Financial Services Group, Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 21, 2015
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities Inc.
|
| Co-manager: | PNC Capital Markets
|
| Coupon: | 4.25%
|
| Price: | 99.822
|
| Yield: | 4.284%
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A+
|
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