Cravath represented the underwriters, led by BofA Merrill Lynch, J.P. Morgan Securities and PNC Capital Markets LLC, in connection with the US$1.25 billion registered debt offering of PNC Funding Corp, a financing subsidiary of The PNC Financial Services Group, Inc., one of the largest diversified financial services companies in the United States. The transaction closed on September 19, 2011.
The Cravath team included partner Andrew J. Pitts.