News: PNC Pioneer Credit Closes A$272.5M Senior Finance Facility, page-14

Agreed Klogg - Splinter seems to have an axe to grind here. According to what Splinter infers the $8m in interest savings will be eliminated in increased costs. You do not have to be smart to understand that if this company can withstand the massive hit it took when the goal posts were moved and the valuation methodology changed then it should easily meet profits equal to or a tad lower than the interest cost savings on the new funding regardless of the one-offs. Nomura are not idiots and they are in here with both shares and funding. Did they go in blindfolded? - No way! My bet is that 2026 FY results will likely be where the major rerate will come. I am hanging on till then.