PNC COMMON STOCK ISSUE PRICED AT $42-5/8 A SHARE
PNC COMMON STOCK ISSUE PRICED AT $42-5/8 A SHARE PITTSBURGH, Nov. 7 /PRNewswire/ -- PNC Financial Corp (NYSE: PNC)
announced today that its issue of 9 million new shares of common stock has been priced at $42-5/8 per share.
PNC also offered the underwriters of the issue an option to purchase up to an additional 1.35 million shares to cover over-allotments. Proceeds of the sale will be used for general corporate purposes, including possible future acquisitions and investments in or capital contributions to current and future subsidiaries. Of the 9 million shares offered, 7.2 million shares are being offered in the United States and 1.8 million are being offered internationally. The common stock is being offered through an underwriting syndicate led by Goldman, Sachs & Co. and Salomon Brothers Inc. The international portion of the offering is being managed by Goldman Sachs International Limited, Salomon Brothers International Limited and Bear, Stearns International Limited. PNC Financial Corp, headquartered in Pittsburgh, is the nation's 16th-largest bank holding company, with assets of $42.3 billion. It operates approximately 500 community banking offices in Pennsylvania, Kentucky, Ohio, Indiana, Delaware and New Jersey and conducts business through additional offices in 15 states. PNC's principal banking affiliates include: Pittsburgh National Bank, Pittsburgh; Provident National Bank, Philadelphia; Citizens Fidelity Bank, Louisville, Ky.; Central Trust, Cincinnati; Bank of Delaware, Wilmington, Del.; Northeastern Bank, Scranton, Pa.; Marine Bank, Erie, Pa.; PNC National Bank, Wilmington, Del.; PNC National Bank of New Jersey, Cherry Hill, N.J.; Hershey Bank, Hershey, Pa.; and The First Bank and Trust Company, Mechanicsburg, Pa. -0- 11/7/91 /CONTACT: Jonathan Williams, media, 412-762-4550, or home at 412-359-0979, or Sheila S. Fischl, financial, 412-762-8257, both of PNC Financial Corporation/ (PNC) CO: PNC Financial Corporation ST: Pennsylvania IN: FIN SU: JT -- PG015 -- 2444 11/07/91 17:56 EST
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|Date:||Nov 7, 1991|
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