Public Market Securities

For Capital Structure Solutions, Corporate Debt and
Equity Financing Solutions

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

Capabilities

For public markets solutions

Corporate Bonds - Investment Grade & High Yield

Public senior and subordinated bonds are often an attractive term debt source for both publicly registered and unregistered borrowers. An underwritten bond issue reduces refinancing risk, helps near term cash flow, matches asset lives to long-term liabilities and can increase bank financing availability. PNC Capital Markets will work with you to determine if a public Securities and Exchange Commission (SEC) registered or 144a debt transaction is an available option to fit your company’s capital structure. Debt issues are often the right choice for:

  • Transaction sizes of $300 million or more
  • Companies seeking longer term debt capital sources
  • 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)
  • Convertible Debt
  • Term ABS Bonds (asset-backed securities)

Our fixed income trading desk is an active liquidity provider in the secondary market and makes markets and carries inventory in a variety of taxable fixed income securities.

Equity & Equity-linked Securities

Instruments combining features of equity and debt may be the right solution for issuers, especially when trying to improve financial or regulatory capital ratios or when the coupon cost of straight senior or subordinated debt is too high.

  • Hybrid Securities (convertible preferred notes, junior subordinated notes and redeemable preferred stock)
  • Common Equity (initial public offerings (IPOs) and secondary/follow-on offerings)

For More Information

  • PNC Capital Markets has underwriting capabilities to serve as a lead or member of an underwriting syndicate for any of these solutions.
  • For information regarding private debt solutions, please refer to our Private Placement Solutions page.

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