The Treasury Department said Tuesday that it will offer warrants to buy equity in PNC Financial Services Group Inc.
It announced it had scheduled a secondary public offering of 16.9 million warrants for common stock of the big Pittsburgh lender.
The Treasury had already announced this month its intention to sell the warrants, which were received in consideration for investments made under the government's Troubled Asset Relief Program for financial institutions.
"The proceeds of these sales will provide an additional return to the American taxpayer from Treasury's investment in the company," the department said. The warrant sales are scheduled for Thursday.
