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PNC Financial raises $600 million in capital; investors yawn

Posted May 27th 2009 10:40AM by Elizabeth Harrow (RSS feed)
Filed under: Options, Financial Crisis

PNC Financial Services (NYSE: PNC) reported this morning it raised more than $600 million through an at-the-market offering of 15 million shares launched May 14.

Additionally, PNC said it has no plans to convert its preferred shares, and it expects to redeem the U.S. Treasury's $7.6-billion investment in its preferred shares "as soon as appropriate."

Continue reading PNC Financial raises $600 million in capital; investors yawn

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Last updated: May 28, 2012: 04:03 AM

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