PITTSBURGH, Pa. – F.N.B. Corp. has expanded its public finance offerings with municipal bond underwriting.
Provided under the bank’s Capital Markets umbrella, municipal bond underwriting and tax-exempt financing enhance F.N.B.’s ability to serve its municipal clients and prospects with the capital necessary to fulfill their financing needs, a news release states.
F.N.B.’s team will guide clients through the securities issuance process, including structuring, investor solicitation and underwriting. For the issuers, municipal bonds can be advantageous for financing large projects, such as infrastructure upgrades or heavy equipment purchases, over longer terms at relatively low cost, the release states. Investors benefit by receiving periodic, federal tax-exempt interest payments before full repayment at the maturity date.
“As we continue to enhance Capital Markets offerings, municipal bond underwriting is a natural addition and reinforces our commitment to serve thousands of customers and prospects who qualify for public financing,” said Vincent J. Delie Jr., chairman, president and chief executive officer of F.N.B. Corp. and First National Bank. “With our expansive product offering, F.N.B. has positioned itself as a trusted partner and bank of choice for businesses and municipalities throughout our footprint.”
The offering is delivered through F.N.B.’s broker-dealer subsidiary, F.N.B. America Securities LLC, which develops financing solutions for local governments, school districts, counties, special districts, nonprofit corporations and other entities. The service also leverages the company’s advanced data collection and analytical capabilities. Using market intelligence, the team will underwrite bonds based on current interest rates, comparable deals and supply and demand dynamics.