Perpetual Credit Income Trust (ASX: $PCI) completes successful $66.2 million wholesale placement

Perpetual Credit Income Trust (ASX: $PCI) has successfully completed a placement to wholesale investors, raising approximately $66.2 million. The placement received strong support, with the Responsible Entity receiving binding commitments for approximately 60.2 million new ordinary fully paid units in the Trust from existing and new wholesale investors at a price of $1.10 per new unit.

Executive Commentary on Successful Placement

Portfolio Manager, Michael Korber, expressed, 'The strong commitment we have received shows there is ongoing demand for monthly income and exposure to a well diversified and quality portfolio of credit and fixed income assets. We are seeing numerous opportunities for this additional capital to be deployed including an attractive pipeline of corporate loan and securitised asset deals which will complement the relative value opportunities we identify in investment grade and high yield credit and fixed income assets. Thank you to our investors for their ongoing support and a warm welcome to our new investors'.

Summary of Placement and Outlook

Perpetual Credit Income Trust (ASX: $PCI) has successfully completed a $66.2 million wholesale placement, demonstrating strong support from both existing and new wholesale investors. The proceeds from the placement will be invested in accordance with the Trust's investment strategy, targeting a total return of RBA cash rate + 3.25% p.a. through the economic cycle. The Trust aims to provide investors with monthly income by investing in a diversified pool of credit and fixed income assets. With the successful completion of the placement, the Trust is expected to have 461,388,942 units on issue, excluding any new units to be issued under the Trust's distribution reinvestment plan during July 2024. The outlook for the Trust includes deploying the additional capital into an attractive pipeline of corporate loan and securitised asset deals, complementing the relative value opportunities identified in investment grade and high yield credit and fixed income assets.