Perpetual Credit Income Trust (ASX:PCI) plans to raise around AU$267 million via a one-for-two pro-rata non-renounceable entitlement offer to eligible unitholders as well as a shortfall offer, according to a Monday Australian bourse filing.
The responsible entity of Perpetual Credit Income Trust, Perpetual Trust Services, and Perpetual Investment Management announced the entitlement offer of one fully paid ordinary unit for every two existing fully paid ordinary units in the trust at an offer price of AU$1.10 per new unit.
Certain wholesale investors will also be invited to apply for new units not subscribed for under the entitlement offer, as well as a top-up facility, under a shortfall offer.
The investment manager plans to use the proceeds for additional investments in accordance with the trust's current investment strategy and objective.
Its shares fell 6% in recent trading on Monday.