Report title: PNC Financial: Tarpoons National City; More Regional Bank Industry Deals on the Horizon?
from CreditSights
2813 word report published Oct 24, 2008

Price $150.00 available for immediate download HTML
Report Overview
 
Search Inside
Abstract: PNC buys National City in all-stock deal with an equity contribution assist from the TARP. Calculates more onerous lifetime cumulative losses in many NCC hot stove real estate categories. National City bonds/preferrred stock assumed by PNC

Brief Excerpt: PNC Financial: Tarpoons National City; More Regional Bank Industry Deals on the Horizon? PNC will acquire National City in an all-stock transaction valued at $2.23 PNC will receive $7.7 billion in preferred equity capital from the...

Report Type: Company Article
Source: CreditSights Inc
Free Sample: Click Here to Download

Enter the keyword(s) which you would like to search for within this document and click "Search"

 
Also from CreditSights
  • PNC 1Q09 Tearsheet  $150.00
     
  • Pac Man Fever: Ms. Pac Man Romances Regionals  $150.00
    Regional banks' capital structure exposures seem more severe than for big banks as Ms. Pac Man erodes in a conservative stress case. In severe case, sub. debt could be threatened, but an open bank or closed banks resolutions are more likely 
  • PNC: 1Q09 Beats, Nat City Nags on Credit  $150.00
    PNC beat estimates. Credit weakened and looks likely to weaken further for the rest of 2009. 
  • PNC: 10-K Cut - Tangible Too Thin  $150.00
    We review PNC's 10-K for annual changes in the company's operating profile, risk appetite, and capital management trends. We focus on the company's corporate strategy, interest rate sensitivity, and balance sheet trends. 
  • PNC: 4Q08 Core Miss, National City Deal Done  $150.00
    PNC's core earnings missed estimates. The company closed the National City merger, and provided updates on the combined company metrics and outlook for 2009. 
  • Banks 2009 Outlook:Part III,"The Biggest Loser(s)"  $150.00
    The 2008 global systemic crises shook the foundations of the financial systems franchise value. Many legendary names failed becoming the biggest losers, but now most all participants must scale down balance sheets/strategic span to survive. 
  • Banks 2009 Outlook Part II: Credit/Equity Values  $150.00
    Part II of our 2009 U.S. Banks/Broker Outlook examines specific bond/cds & stock recommendations. This includes our rich/cheap relative value bond/CDS analysis, rating agency trends, our BondScore for Banks views, and our earnings estimate 
  • Banks 2009 Outlook: Part I, Portfolio Mgr Playbook  $150.00
    Part I of our three-part 2009 Bank/Broker Outlook gives a summary of our key fundamental and valuation views in credit and equities for portfolio managers/traders/analysts. 
 CreditSights
CreditSights is an independent research platform comprised of a team of analysts with both buy-side and sell-side experience in the U.S. and overseas. CreditSights' research focuses on global corporate and sovereign issuers, which have securities that are actively traded in the corporate bond, credit derivatives and/or equity-linked markets. Sector coverage is broad-based and includes telecom, technology, and media; autos and general industrials; utilities and energy; financial services; commodity cyclicals; retail and consumer products; and aerospace and defense. Emerging markets coverage includes the major Latin American, Asian and Eastern European countries. The focus of CreditSights research is to help investors make decisions by distilling and interpreting significant developments and specific events affecting individual companies, industries, or the securities markets as a whole.
Price: $150.00