So on or around 3rd July we shall know if the MD has pulled off a Lazarus with a triple by-pass from the nadir of 4 years ago when PNC's survival was a thing.
As I understand it he has collaed a new substantial and professional shareholder in a placement to raise to raise $10m, corralled his saviour funder Nomura into a refinancing of senior debt to save $8m in funding costs and rolled over $33m of medium term notes into 4.5 years maturity. All of this done when the operation was barely breaking even. What PNC is paying on those MTNs is moot ..I guess we find out soon.
Anyway, if Keith John has done it then all power to him.
So on or around 3rd July we shall know if the MD has pulled off...
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