Ord Minnett announces $66.2 million wholesale placement

Ord Minnett has announced it is pleased to be acting as Joint Lead Manager to the Responsible Entity of the Perpetual Limited Credit Income Trust (ASX:PCI) on its ~$66.2 million wholesale placement.

Proceeds from the wholesale placement will be used to actively pursue additional investments in accordance with PCI’s investment strategy.

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The transaction saw strong demand from investors given Australian credit is currently offering the highest yields in over a decade.

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PCI provides investors with exposure to a diversified portfolio of domestic credit and fixed income assets, overseen by a deeply experienced management team.

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Ross Baildon, Managing Director and Head of Corporate Finance said “Ord Minnett is pleased to support PCI in its equity raising which will enable the Manager to pursue its attractive pipeline of corporate loan and securitised asset opportunities. We congratulate Michael Korber, Michael Murphy, Karen Trau and the entire PCI team on a successful transaction and look forward to continuing our support of the Trust.”