Public Finance

PNC combines the size, scale and capabilities of the largest national commercial and investment banks with the values and community focus of a Main Street bank.

PNC has committed more than $15 billion to governments, nonprofits and higher education institutions through balance sheet tools including loans, direct placements, lines and letters of credit, SBPA and other structures to support the capital and operating needs of public finance entities across our footprint. PNC brings a best-in-class delivery model based on the organization of credit products and risk teams around specific client sectors.

Over the past five years, we have raised capital for and provided direct underwriting and investment banking services for more than 1,800 municipal bond issuances totaling more than $99 billion in municipal securities. That ranks us among the largest and most active public finance firms in the nation.

We offer a wide variety of municipal debt-based structures and products:

• Tax-exempt and taxable fixed rate bonds
• Variable rate and multi-modal bonds
• Industrial development bonds
• Certificates of participation
• Innovative derivative structures (caps, floors, collars, swaps, swaptions and forwards)
• Sale/leaseback bonds, off balance sheet financing

We’ve structured successful deals in virtually every sector of the public finance market. That means we know a great deal about your business, too. Our clients include:

Higher Education: Public and private colleges and universities, technical colleges

Major Governments: State governments and agencies, major cities and counties and associated agencies, major transportation agencies, utilities, airports, sports facilities

Local Governments: Smaller counties, cities, towns, townships, boroughs, water and sewer authorities, school districts, tax increment financing (TIF) districts

Schools: School districts, charter schools, private, independent or religious secondary schools and other educational institutions

Nonprofits: National, regional and community-based endowments, associations and service organizations and affiliates

Housing and Redevelopment: State and local housing finance issuers as well as direct lending, tax credit capital and syndication for housing and redevelopment projects

Healthcare: Acute care, academic medical centers, specialty care, long-term care, continuing care retirement communities, assisted living

Corporate and Economic Development: Taxable and tax-exempt industrial development or manufacturing issues and special issuance structures