Pioneer Credit's appointment of Nomura for senior finance facilities

Pioneer Credit Limited (ASX: $PNC) has appointed Nomura Australia Ltd ('Nomura') as the exclusive arranger for its senior finance facilities. This appointment is expected to significantly reduce the company's cost of funds and follows extensive due diligence. Nomura is anticipated to complete syndication of this facility before 30 June 2024.

Pioneer Credit's Managing Director on Nomura's appointment and its impact

We are pleased to have reached agreement with Nomura. Our partnership commenced in 2020 in challenging times and Nomura has been supportive throughout. Our recent $35m facility further demonstrated Nomura's comfort with Pioneer's credit, operations, and outlook. Refinancing Pioneer's senior debt on more attractive terms will materially reduce costs and enable the Company to pursue more opportunities to grow shareholder equity and boost profitability.

Pioneer Credit's appointment of Nomura and its future outlook

Pioneer Credit Limited (ASX: $PNC) has appointed Nomura Australia Ltd as the exclusive arranger for its senior finance facilities, aiming to reduce its cost of funds. The company's Managing Director, Keith John, expressed satisfaction with the agreement, highlighting Nomura's support and the potential for reduced costs to enable pursuing growth opportunities. This move reflects Pioneer's commitment to enhancing shareholder equity and profitability, leveraging its industry relationships, compliance record, and customer-focused culture.