Australia's Pioneer Credit eyes best day in 1 yr on debt facility agreement

Pioneer Credit

01/11/2021 03:04

** Shares of finance service provider Pioneer Credit
 PNC.AX  rise as much 13.8% to A$0.535, on track for their best
day since Oct 2020
    ** Says it has executed agreements for a A$200 mln ($150.22
mln), four-year senior debt facility agreement with investment
manager Fortress Investment Group
    ** Says also extended the maturity of its existing Medium
Term Notes (MTN) to five years, and increased the MTNs on issue
to A$60 mln, through a fully subscribed offer. 
    ** Stock hits highest since May 12 and is on track for
second consecutive session of gains 
    ** Stock down ~13.8% this year as of last close 


($1 = 1.3314 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))