Green Bond Fact Sheet

This fact sheet details a USD 650 million green bond issued by PNC Financial Services Group on November 1, 2019, with a five-year tenor. The proceeds are allocated to renewable energy, energy efficiency, and green buildings, with the Climate Bonds Initiative noting PNC as the first of its kind to dedicate a share of proceeds to waste projects.

• PNC Financial Services Group issued a senior unsecured green bond on November 1, 2019, for an amount of USD 650 million with a maturity date of November 1, 2024, and a tenor of 5 years.
• The proceeds of the bond are designated for three primary categories: Renewable Energy (specifically the construction and maintenance of new solar and wind energy facilities), Energy Efficiency (lighting improvements in PNC's real estate intended to result in a 25% improvement), and Green Buildings (LEED Platinum and Gold Certified Buildings).
• The Climate Bonds Initiative identifies PNC as one of the largest financial service providers by assets in the United States and the third among the top 10 to issue a green bond. Additionally, PNC is noted as the first to dedicate a portion of proceeds to waste projects.
• The bond's financial terms include a coupon of 2.200%, an issue price of 99.967%, and an issue yield of 2.207%. It received a second party opinion from Sustainalytics and holds credit ratings of A3 from Moody’s, A- from S&P, and A+ from Fitch.

APA

Climate Bonds Initiative (2019). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2019-11_US_PNC_Financial_Services_Group.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2019. https://www.climatebonds.net/files/drupal-files/files/2019-11_US_PNC_Financial_Services_Group.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=14 November 2019 |url=https://www.climatebonds.net/files/drupal-files/files/2019-11_US_PNC_Financial_Services_Group.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2019}, month = nov, url = {https://www.climatebonds.net/files/drupal-files/files/2019-11_US_PNC_Financial_Services_Group.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }