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Pioneer Credit Limited (ASX:PNC)

ALERT: Price-sensitive ASX Announcement for PNC
Current share price for PNC : $0.675 0.035 (5.47%)+
Announcement
Release
27 Oct 2025 11:17AM
Price at Release
$0.640
Full Release
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Summary
Pioneer Credit Limited (ASX: PNC) announced a 100-bps reduction in the interest margin on its $272.5 million syndicated senior finance facility, effective 1 November 2025, reducing the margin to BBSW + 450bps. This repricing is expected to save the company approximately $2.5 million annually in pre-tax interest. The change comes after a strong FY25 performance and a positive outlook for FY26. The company also maintains over $30 million in undrawn facility capacity, ensuring full funding for its FY26 Purchased Debt Portfolio investment program, expected to exceed $80 million. Under the new terms, Pioneer has agreed not to repay the facility before July 2027, ahead of its maturity in July 2028, with all financial covenants remaining unchanged.
Key Points
  • 100bps margin reduction on $272.5M Senior Finance Facility
  • Effective 1 November 2025, lowering margin to BBSW + 450bps
  • Estimated $2.5 million annual pre-tax interest saving
  • Undrawn facility capacity of over $30 million
  • Fully funded for FY26 Purchased Debt Portfolio exceeding $80 million
  • Commitment not to repay facility before July 2027
  • Strong FY25 performance and positive FY26 outlook
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.