April 29 (Reuters) - Credit Corp Group Ltd CCP.AX :
* INSTITUTIONAL PLACEMENT TO RAISE A$120 MILLION
* PLACEMENT ISSUE PRICE OF A$12.50 PER SHARE
* NON-UNDERWRITTEN SHARE PURCHASE PLAN TO RAISE ABOUT A$30 MILLION
* SHORT-TERM COST REDUCTIONS OF $2 MILLION PER MONTH HAVE BEEN IMPLEMENTED
* COST REDUCTION MEASURES INCLUDE DECREASES IN BOARD, EXECUTIVE & SUPPORT REMUNERATION
* FOR 9 MONTHS TO MARCH, AUS/NZ DEBT COLLECTIONS UP 9%