PNC Bank 2006 Annual Report Download - page 63

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$150 million of debt or equity securities. In January 2007, we
filed two new shelf registration statements which will enable
us to issue additional debt and equity securities, including
certain hybrid capital instruments.
During February 2007, in connection with our planned
acquisition of Mercantile, we issued $1.9 billion of debt to
fund the cash portion of this transaction, comprised of the
following:
• On February 1, 2007, we issued $775 million of
floating rate senior notes due January 2012. Interest
will be reset quarterly to 3-month LIBOR plus 14
basis points and interest will be paid quarterly.
• Also on February 1, 2007, we issued $500 million of
floating rate senior notes due January 2014. Interest
will be reset quarterly to 3-month LIBOR plus 20
basis points and will be paid quarterly.
• On February 8, 2007, we issued $600 million of
subordinated notes due February 2017. These notes
pay interest semiannually at a fixed rate of 5.625%.
We currently expect to issue additional debt or hybrid capital
instruments in March 2007 for the remainder of the financing
for our planned acquisition of Mercantile.
53