PNC Capital Markets announced Friday the completion of a $150 million loan for Carbide/Graphite Group Inc.
It was PNC Capital Markets' first syndicated loan transaction using Internet technology to distribute offering information and other materials.
PNC Capital Markets, the section 20 securities affiliate of Pittsburgh- based PNC Bank Corp., said it also plans to use the Intraloan system, a private network using Internet technology developed by New York-based Intralinks Inc., to distribute information on two upcoming loan syndications.
The loan is the 12th syndicated transaction to be offered using the system. J.P. Morgan & Co. and BancAmerica Securities Inc. have used it to distribute syndication materials.
BancAmerica's $4 billion loan for Compaq Computer Inc., completed in September, is the largest loan syndicated via Intraloan.