By Cristal Cody
Tupelo, Miss., July 18 – PNC Financial Services Group, Inc. sold $1 billion of 2.6% seven-year senior notes (A3/A-/A+) on Thursday at a spread of 75 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.809 to yield 2.63%.
PNC Capital Markets LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds 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: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | July 23, 2026
|
| Bookrunners: | PNC Capital Markets LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 2.6%
|
| Price: | 99.809
|
| Yield: | 2.63%
|
| Spread: | Treasuries plus 75 bps
|
| Call feature: | Callable on or after 60 days before maturity at par
|
| Trade date: | July 18
|
| Settlement date: | July 23
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
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