Australia's Pacific Current jumps on securing debt funding

Pacific Current

24/10/2022 03:11

** Shares of Pacific Current Group Ltd  PAC.AX  rise as much
as 5.7% to A$7.84, hitting their highest since Sept 28
    ** The multi-boutique asset management firm says it secured
a $50 mln debt facility from Washington H. Soul Pattinson and Co
 SOL.AX  for co's growing pipeline of investment
opportunities urn:newsml:reuters.com:*:nASX80K01K
    ** Says initial amount to be drawn down is $30 mln
    ** Says it is confident that investments will enhance co's
FY23 revenue and earnings 
    ** Stock posts its biggest intraday pct gain since Oct 20
    ** Pacific Current stock up 1.5% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))