PNC Financial remarkets $500.1 million of 8.729% junior notes

By Sheri Kasprzak

New York, Nov. 1 - The PNC Financial Services Group, Inc. remarketed $500.1 million of its remarketable 8.729% junior subordinated notes, according to a statement released Thursday by the company.

The interest rate on the notes, which are due in 2043, was adjusted to 2.866% per year, beginning Nov. 9. The maturity was also adjusted to Nov. 9, 2019.

The remarketing was a requirement of PNC's fourth supplemental indenture with the Bank of New York Mellon, according to the statement.

Based in Pittsburgh, PNC is a financial service organization.

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