PNC preps offering of subordinated notes due 2024; pricing Wednesday

By Aleesia Forni

Virginia Beach, April 23 - PNC Financial Services Group Inc. plans to sell an offering of subordinated notes due 2024, according to a market source and a 424B2 filed with the Securities and Exchange Commission.

Goldman Sachs & Co., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and PNC Capital Markets LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include advances to subsidiaries to finance their activities, repayment of outstanding debt, and repurchases and redemptions of issued and outstanding securities of PNC and its subsidiaries.

PNC is a Pittsburgh-based bank and holding company.

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