PNC launching stock offering - The Business Review (Albany):

caloloary.blogspot.com
The Pittsburgh-based bank, whicu entered Central Ohio last year byacquiring Cleveland-basee , said Morgan Stanley Company Inc. will serve as the sales agent in the which will take place from time to time on the The announcement comes a week afterf regulators toldPNC (NYSE:PNC) it needed to raise $600 milliobn to ensure it’s well-capitalized in the eventt of a severe and prolongee downturn. PNC was among the nation’a 19 largest banks given “stress by the . Of the 10 told to raiswe additional capital, it was directed to shore up thesmallesy amount.
Cleveland-based (NYSE:KEY) on Mondaty made a similar move, telling investors it plans to raise upto $750 million througj the sale of common stock. Key, Centra l Ohio’s fifth-largest bank, was told to raise $1.8 billion to satisfy requirements of thestress