PNC Financial Services Group Inc. released terms for its planned $3 billion stock offering, which the company says it will use to help repay the $7.6 billion it owes the U.S. government.

The company said Wednesday that it will sell at least 55.6 million shares at $54 each, a 1.2% discount from Tuesday's closing price. The stock closed Wednesday at $53.71 a share, down 1.72%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.