Keith John presented yesterday at a small caps conference. He mentioned that the refinancing of debt was a priority for PNC over the next few months. There will be cost savings
He didn’t discuss any of the problems over the last few years and was a little light on financial details. I would like to see more honesty from the CEO. I would have preferred to see him discuss the turn around and some of the recent challenges.
A couple of things I picked up were.
PNC source their debt mainly from banks.
There are now only two local Australian companies who buy and then collect debt there were 4.
Ann: Investor Presentation, page-13
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