PNC Financial Services Group completes public offering

Thu. May 28, 2009; Posted: 02:15 PM

May 28, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- PNC | Quote | Chart | News | PowerRating -- The PNC Financial Services Group, Inc. (PNC), a US-based diversified financial services company, has raised in excess of $600 million in common equity through the issuance of 15 million shares of common stock through an at-the-market offering.

Announcement (May 14, 2009):

PNC has agreed to issue 15 million shares through a public offering of common stock.

Morgan Stanley & Co., Incorporated is acting as sales agent for the offering.

Deal Value (US$ Million) 600
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Completed: 2009-05-27

Deal Participants

Target (Company) The PNC Financial Services Group, Inc. (Formerly PNC Bank Corp.)

Deal Rationale

PNC would use the net proceeds for general corporate purposes, and for the financing of possible future acquisitions and repayment of outstanding indebtedness.

No. Shares Issued 15000000

For full details on Pnc Financial Svcs Grp (PNC) click here. Pnc Financial Svcs Grp (PNC) has Short Term PowerRatings of 5. Details on Pnc Financial Svcs Grp (PNC) Short Term PowerRatings is available at This Link.

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