Credit Corp Group completes $125m institutional placement

Company News

by Rachael Jones

Credit Corp Group (ASX:CCP) has successfully completed its fully underwritten $125 million institutional placement.

As a result of significant demand from new and existing institutional investors, the size of the Placement was increased from $100 million.

The institutional placement was launched yesterday morning.

Funds raised were to accelerate expansion plans into North America.

Credit Corp was offering new shares at $20.45, according to terms sent to fund managers, which was a 7.8 per cent discount to the last close.

Shares in Credit Corp Group (ASX:CCP) trading 3.6 per cent lower at $21.39.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.