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Exchange Income Corporation Announces Closing of $143,750,000 Debenture Offering, Including the Full Exercise of Over-Allotment Option
Exchange Income Corporation Announces Closing of $143,750,000 Debenture Offering, Includi...
About this update from Exchange Income Corporation
[{"type":"text","content":"\n \n \n \n Exchange Income Corporation Announces Closing of $143,750,000 Debenture Offering, Including the Full Exercise of Over-Allotment Option\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n .\n \n \n /\n \n \n \n \n WINNIPEG, MB\n \n ,\n \n July 30, 2021\n \n /CNW/ - Exchange Income Corporation (TSX: EIF) (the \"Corporation\" or \"EIC\") announced today that it has closed its previously announced bought deal offering (the \"Offering\") of 7 Year 5.25% convertible unsecured subordinated debentures due\n \n July 31, 2028\n \n (the \"Debentures\").  At the closing of the Offering, the Corporation issued\n \n $143,750,000\n \n principal amount of Debentures to the underwriters of the Offering, which includes the exercise in full of the\n \n $18,750,000\n \n over-allotment option granted to the underwriters for the Offering.\n \n \n The Offering was co-led by National Bank Financial Inc. and CIBC Capital Markets and the syndicate included Raymond James Ltd., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Cormark Securities Inc., Laurentian Bank Securities Inc., Wellington-Altus Private Wealth Inc., ATB Capital Markets Inc. and iA Private Wealth Inc.\n \n \n The Debentures are listed for trading on the Toronto Stock Exchange under the symbol \"EIF.DB.L\".\n \n \n The Corporation intends to use the net proceeds of the Offering to fund the redemption of its outstanding 7 year 5.25% convertible unsecured subordinated debentures maturing\n \n June 30, 2023\n \n (the \"\n \n June 2016\n \n Debentures\") as required, and to repay indebtedness under its credit facility that will provide financial flexibility in order to redeem, when permitted, other upcoming maturities, specifically the 5 year 5.25% convertible unsecured subordinated debentures maturing on\n \n December 31\n \n , 2022. The Corporation will issue a notice of redemption to the holders ...