PNC Funding Corp. is looking to raise $1.25 billion through a sale of five-year senior holding-company notes, The Wall Street Journal reports. The notes, carrying a coupon rate of 2.70 percent, will mature on Sept. 19, 2016, adds Reuters. The company will utilize the proceeds for general corporate purposes, which could include the repayment of outstanding debt securities. Bank of America Merrill Lynch, JPMorgan Chase & Co. and PNC will act as active book runners for the offering.

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