Also worth mentioning that Debt to Equity is a little high, but part of the reason for the recent raise.
I would much prefer a 70/30 debt to equity split on PDLs to give them some more buffer. Currently at about 82/18 after the raise and recent profits (at a guess, using AR figures).
Finally, the 0.25bp cut to the BBSW also increases margins for PNC through cheaper interest costs. Seems marginal, but their facility is large (~$620k savings on $250m loan)
PNC Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
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