Australia's Pioneer Credit hits 26-month high on flagging larger debt facility

Pioneer Credit

12/06/2024 05:26

** Shares of Pioneer Credit  PNC.AX  rise as much as 7.5% to
A$0.505, their highest since April 1, 2022
    ** Stock posts its biggest intraday percentage gain since
May 6
    ** Financial services provider says its senior debt
refinancing facility's limit will be materially larger than the
previously announced A$220 mln ($145.53 mln)
    ** About 468,000 shares change hands, compared with the
30-day average volume of about 65,000
    ** Stock up 11.9% YTD, as of last close
($1 = 1.5117 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))