Pioneer Credit Ltd (AU:PNC) has released an update.
Pioneer Credit Limited has announced an exchange offer inviting holders of its existing $55.5 million subordinated notes to swap for new notes, with added incentives and a revised maturity term of four and a half years. The move is part of Pioneer’s strategy to refinance its senior debt, aiming to lower funding costs and increase financial flexibility. This refinancing effort is backed by the appointment of Nomura as the exclusive arranger for Pioneer’s new senior financing facility.
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