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Perpetual Credit Income Trust (PCI) investor relations material
Perpetual Credit Income Trust Investor Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Offer structure and capital raising
Pro-rata non-renounceable entitlement offer of 1 new unit for every 2 existing units, with a top-up facility and shortfall offer to raise A$267m, not underwritten.
Offer price set at $1.10 per unit, a 9.1% discount to the closing share price and equal to NTA per unit as of 6 November 2025.
New units will rank equally with existing units and be eligible for future distributions.
Proceeds will be used to pursue additional investments aligned with the investment strategy.
Joint Lead Manager and legal fees up to $5.74m will be paid by the Manager.
Timetable and participation
Key dates: announcement and opening on 10 November 2025, record date 13 November, closing 27 November, results 1 December, and trading of new units from 3 December.
No brokerage or transaction costs for participants in the entitlement offer.
All new units eligible for December 2025 and future monthly distributions.
Investment strategy and portfolio
Aims to provide monthly income by investing in a diversified pool of credit and fixed income assets, targeting RBA Cash Rate +3.25% p.a. (net of fees).
Portfolio typically holds 50-100 assets, with 30-100% investment grade and up to 70% sub-investment grade or unrated assets.
As of 31 October 2025: 160 holdings across 94 issuers, 3.2 years weighted average life, 6.9% running yield, and 35 days interest rate duration.
Portfolio is well-diversified by sector, credit rating, maturity, and currency, with 91.2% in AUD and 75.5% of issuers domiciled in Australia.
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