You'll find the banks generally won't sell their "news worthy" debt, ie anything to do with mortgages or people losing their jobs. So the majority of PDL available from banks is unsecured credit.
On the other hand, banks will send debt out for contingent for compliance reasons. It's easier to blame the contingent collector for a mistake than to make news headlines because their own staff said one wrong thing.
PNC might be getting tier 1 debt, but the market price for debt right now is too high in most cases anyway, which is why you see companies like Panthera up for sale (just speculating why the owners want out, but they did buy a lot of debt last year).
I'd be looking to invest in who PNC is sending their PDL over to for contingent instead of investing directly into PNC themselves.
You'll find the banks generally won't sell their "news worthy"...
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Last
52.5¢ |
Change
-0.025(4.55%) |
Mkt cap ! $70.85M | |||
| Open | High | Low | Value | Volume |
| 54.5¢ | 54.5¢ | 52.0¢ | $92.32K | 174.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19419 | 51.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 52.5¢ | 10613 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| PNC (ASX) Chart |