Brief: Pioneer Credit Confirms Co Is In Advanced Stages Of Refinancing Its Existing Debt Facilities

Pioneer Credit

14/10/2021 02:29

Oct 14 (Reuters) - Pioneer Credit Ltd  PNC.AX :
    * PIONEER CREDIT LTD - CONFIRMS COMPANY IS IN ADVANCED STAGES OF REFINANCING
ITS
EXISTING SENIOR DEBT FACILITIES AT REDUCED COST
    * PIONEER CREDIT LTD -  PROPOSES TO ISSUE A MINIMUM OF A$10 MILLION OF A NEW
TRANCHE OF NOTES THAT ARE FULLY FUNGIBLE WITH NOTES
    * PIONEER CREDIT LTD -  PROPOSED AMENDMENTS INCLUDE EXTENDING MATURITY DATE
FOR
NOTES FROM 22 MARCH 2023 TO 30 NOVEMBER 2026
    * PIONEER CREDIT LTD -  PROPOSED SENIOR DEBT REFINANCING INCLUDE INCREASING
MARGIN
BY 150 BPS TO +8.75% PER ANNUM

Source text for Eikon:  ID:nASX5tZjRB 
Further company coverage:  PNC.AX 

 ((Reuters.Briefs@thomsonreuters.com;))