PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
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Parent Company Notes Redeemed
Additionally, the parent company borrowed $1.1 billion through an unsecured senior term loan during the first quarter of 2026.
The following table details Parent Company note redemptions during the first quarter of 2026.
Table 29: Parent Company Notes Redeemed
| Redemption Date | Amount | Description of Redemption |
|---|---|---|
| January 26, 2026 | $1.25 billion | All outstanding 4.758% senior fixed-to-floating rate notes with an original scheduled maturity date of January 26, 2027. The redemption price was equal to 100% of the principal amount, plus any accrued and unpaid interest to the redemption date of January 26, 2026. |
Parent company senior and subordinated debt carrying value totaled $36.3 billion and $33.7 billion at March 31, 2026 and December 31, 2025, respectively.
Contractual Obligations and Commitments
We enter into various contractual arrangements in the normal course of business, certain of which require future payments that could impact our liquidity and capital resources. See the Liquidity and Capital Management portion of the Risk Management section of our 2025 Form 10-K for more information on these future cash outflows. Additionally, in the normal course of business, we have various commitments outstanding, certain of which are not included on our Consolidated Balance Sheet. We provide information on our commitments in Note 9 Commitments.
Credit Ratings
PNC’s credit ratings affect the cost and availability of short and long-term funding, collateral requirements for certain derivative instruments and the ability to offer certain products.
In general, rating agencies base their ratings on many quantitative and qualitative factors, including capital adequacy, liquidity, asset quality, business mix, level and quality of earnings, and the current legislative and regulatory environment, including implied government support. A decrease, or potential decrease, in credit ratings could impact access to the capital markets and/or increase the cost of debt, and thereby adversely affect liquidity and financial condition. For additional information on the potential impacts from a downgrade to our credit ratings, see Item 1A Risk Factors in our 2025 Form 10-K.
30 The PNC Financial Services Group, Inc. –Form 10-Q
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