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

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The Pittsburgh-based bank, which entered Central Ohio last year byacquirintg Cleveland-based , said Morgan Stanley Company Inc. will serve as the salees agent inthe sale, which will take place from time to time on the The announcement comes a week after regulator s told PNC (NYSE:PNC) it needed to raise $600 millio to ensure it’s well-capitalizedr in the event of a severe and prolonged PNC was among the nation’z 19 largest banks given “stress by the . Of the 10 told to raisd additional capital, it was directed to shoree up thesmallest amount.
Cleveland-baseds (NYSE:KEY) on Monday made a similard move, telling investors it plans to raise upto $750 million throughj the sale of common stock. Key, Central Ohio’s fifth-largestg bank, was told to raiswe $1.8 billion to satisfy requirement of thestress tests.