By Cristal Cody
Tupelo, Miss., Aug. 30 – PNC Financial Services Group, Inc. sold $500 million of 3.25% three-year senior notes at 99.929 to yield 3.275% on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A-/A+) priced with a spread of 55 basis points over Treasuries.
Morgan Stanley & Co. LLC was the bookrunner.
Proceeds from the offering will be used for general corporate purposes, including debt repayment.
PNC Financial Services is a Pittsburgh-based financial services holding company.
| Issuer: | PNC Financial Services Group, Inc.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | Sept. 3, 2021
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Co-manager: | PNC Capital Markets LLC
|
| Coupon: | 3.25%
|
| Price: | 99.929
|
| Yield: | 3.275%
|
| Spread: | Treasuries plus 55 bps
|
| Call feature: | On or after the 30th day before maturity at par
|
| Trade date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
