Pioneer Credit

A$40m Initial Public Offering

May 2014

Pioneer Credit Ltd (Pioneer) is a financial services provider specialising in acquiring and servicing unsecured retail debt portfolios.

On 4 April 2014, Pioneer issued a prospectus offering 25.2 million shares at an issue price of A$1.60 per share to raise a total of A$40.2 million. Funds were to be used predominantly for growth activities including debt purchases and expansion of Pioneer’s Perth based customer service centre.

Azure acted as financial adviser and managed the end-to-end process for the company including initial advice on the optimal financing strategy and structure.

The offer closed oversubscribed.