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Providing treasury management, credit, derivative products, and investment management services through PNC Bank, National Association and capital markets products through PNC Capital Markets LLC (PNCCM), to clients in the public and nonprofit sectors.Contact Us
The PNC Public Finance Group is uniquely organized to deliver both traditional bank products through PNC Bank, National Association and capital market solutions through PNC Capital Markets LLC. Our holistic approach is organized around client, not products. Offered solutions reflect our team’s collaboration, best practices of our clients and our deep understanding of the public finance industry and its changing landscape. We strive to identify opportunities for our clients to embrace technology and efficiency in their day- to- day banking operations and PNC’s relationship managers and capital markets team work to solve even the most complex debt structures. Our seamless transaction execution combined with our financial product offerings are reasons to make PNC your financial partner.
Our regional approach to doing business provides us with a keen understanding of the local and national economic factors affecting each client. We are responsible and professional; we care about our clients' success and the success of the communities they serve, wherever they are in the United States.
PNC’s Public Finance group is committed to serving the financial needs of the public sector from state and local governments, school districts and transportation authorities to institutions of higher education and nonprofit organizations.
PNC Bank, National Association combines the strength of a large national institution with the community focus of a Main Street bank.
PNC Bank, National Association has committed $23.6 billion to governments, nonprofits and higher education institutions through balance sheet tools including loans, direct purchases, lines and letters of credit, stand-by bond purchase agreements and other structures to support the capital and operating needs of public finance entities across our footprint. PNC brings a targeted delivery model based on the organization of credit products and risk teams around specific client sectors. And we’re growing - in the past year, we’ve seen a growth of 25% in credit product capital commitments.
In 2021, PNCCM provided bond underwriting and investment banking services for 362 municipal bond issuances with principal totaling over $24.5 billion. PNCCM served as lead or sole manager on 189 municipal securities transactions with a par amount in excess of $5.2 billion. PNCCM also maintains a remarketing book consisting of 131 variable rate issues, with an aggregate principal amount of approximately $4.3 billion. These issues consist of various modes, including daily, weekly, monthly, semiannual and annual.
Our credit commitments combined with our investment banking issuances ranks us among the largest and most active public finance firms in the nation.
(2021 Greenwich Excellence Awards
for Middle Market Banking)
Derivative structures such as caps, floors, collars, swaps, swaptions and forwards through PNC Bank, National Association.
We offer a wide variety of municipal debt-based structures and products through PNC Captial Markets LLC:
The benefits of a long-term relationship supported a client in trying times.
2 min read
PNC assisted a fast-growing charter school client with its bond issuance.
2 min read
Educational Opportunities from the Ground Up
1 min read
As of March, 2022
As of March, 2022
As of December 31, 2021
Institutional use only.
Allocation of Callable Securities Your account may contain “callable” securities, which allow the issuer to repurchase or redeem the securities by a specified date. In the event of a partial redemption or call of securities by the issuer, PNC Capital Markets LLC will allocate among its customers, the securities being selected as called, on a fair and impartial basis through a randomized lottery system. If your account contains callable securities subject to a partial redemption or call, the probability of your securities being selected as called is proportional to the holdings of all customers of such securities held in bulk by PNC Capital Markets LLC. Notwithstanding the foregoing statements, PNC Capital Markets LLC will further ensure equitable allocation of the callable securities by excluding itself as well as its interested persons from the lottery system when the redemption is made on terms that are favorable to PNC Capital Markets LLC; and including itself as well as its interested persons in the lottery system when the redemption is made on terms that are unfavorable to PNC Capital Markets LLC.
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