Fixed Income Originations

Solutions to help you manage your investment portfolio

Fixed Income Originations

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The relationship-first approach of PNC Capital Markets LLC ("PNCCM") has driven substantial growth in bookrunner roles in recent years.

We deliver a broad array of public and private markets solutions, including high-yield and investment grade bonds, convertible bonds, hybrid securities and private placements. PNCCM provides market knowledge, structuring expertise and strong execution as part of our overall service to our clients.

Investment Grade & High-Yield Bonds

Public senior and subordinated bonds can be an optional debt source for both publicly registered and unregistered borrowers. An underwritten bond issue can reduce refinancing risk, can help near-term cash flow, can match asset lives to long-term liabilities and can increase bank financing availability. PNCCM will work with you to determine if a public SEC registered or 144A debt transaction is an available option to fit your company’s capital structure. 

PNCCM's fixed income trading desk is an active liquidity provider in the secondary market and carries inventory in a variety of taxable fixed income securities.

Debt issues are often the right choice for:

  • Transaction sizes of $300 million or more
  • Companies seeking longer-term debt capital resources
  • Companies with public debt ratings or those intending to become rated

These debt security structures include:

  • SEC-Registered Bonds (investment grade and high-yield debt securities)
  • 144A Bonds (debt securities with or without registration rights)
  • Term ABS Bonds (asset-backed securities)

Private Placements

This market is utilized by issuers seeking long-term sources of debt capital that’s exempt from public registration and/or those seeking debt capital less than what’s required by the public debt and 144A markets. PNCCM can help provide access via fixed income securities structured to your growth and bottom-line targets.

Insurance companies, pension funds and money managers are common institutional investors in debt private placements. Our experienced team has ongoing dialogue with the private placement investor base and can provide insight to issuers looking to approach these financing solutions. 

PNCCM is an experienced placement agent. From origination to funding, our team works with first-time and repeat issuers to manage all phases of these transactions, adding value on both complex and traditional transactions. Our teams have put together deals of 3- to 40-year final maturities with fixed rates, flexible covenant structures and low issuance costs to help our clients succeed.

These private debt structures include:

  • Senior Unsecured Notes
  • First Mortgage Bonds
  • Senior Secured Notes
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Let's Talk

Please work directly with your C&IB Relationship Manager to discuss the best financing for your company’s needs.