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Public Finance
Delivering credit, treasury management, capital markets and investment management services to clients in the public and nonprofit sectors
Public Finance
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 UsBenefit from Nationwide, Client-Centered Support
Why are we different?
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.
Work with a Financial Leader
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[1] 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[2].
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[3]. 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.
PNC Bank, National Association
#1 Overall Satisfaction
with Relationship Manager and Innovation in Products & Services
(2021 Greenwich Excellence Awards
for Middle Market Banking)[3]
- 2021 Greenwich Excellence Awards for U.S. Middle Market Banking
- #1 Overall Client Satisfaction among Lead Relationships
- Our Relationship Managers are ranked #1 in the following categories:
- #1 - Prompt Follow-Up on Requests
- #1 - Proactively Provides Advice
- #1 - Effectively Coordinates Product Specialists
- #1 - Understanding of Your Industry
- Our Treasury Management Platform is ranked #1 in the following Cash Management categories:
- Innovation in Products and Services
- #1 Accuracy of Operations
- #1 Customer Service Professional
- #1 Overall Digital Experience
- Our Relationship Managers are ranked #1 in the following categories:
- #1 Overall Client Satisfaction among Lead Relationships
Access a Variety of Funding Mechanisms
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:
- Tax-exempt and taxable fixed rate bonds
- Variable rate and multi-modal bonds
- Certificates of participation
Bank on Our Sector Expertise
We’ve structured successful deals in many sectors 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 charitable and research foundations, 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
- Corporate and Economic Development: Taxable and tax-exempt industrial development or manufacturing issues and special issuance structures
Ideas & Insights
Read about recent transactions and the latest industry trends from PNC’s Public Finance group.
Raise Capital
PNC Successfully Markets $76.5 Million Note as COVID-19 Strikes
The benefits of a long-term relationship supported a client in trying times.
2 min read
Raise Capital
Great Grades Key to Riverwalk’s Success with PNC Capital Markets
PNC assisted a fast-growing charter school client with its bond issuance.
2 min read
Raise Capital
PNC Delivers Alternative Solutions for The Haverford School
Educational Opportunities from the Ground Up
1 min read
Representative Transactions
Contact PNC’s Public Finance Group
For More Information
To request more information for a specific financing need, provide the details below. All fields required.
Companies with annual revenue under $5 million should contact our Business Banking group.
Companies with annual revenue between $5 million and $50 million should contact our Commercial Banking group.
Important Legal Disclosures & Information
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As of March, 2022
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As of March, 2022
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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.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.
