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EXCHANGE INCOME CORPORATION ANNOUNCES EARLY REDEMPTION OF 5 YEAR 5.25% DEBENTURES DUE DECEMBER 31, 2022
EXCHANGE INCOME CORPORATION ANNOUNCES EARLY REDEMPTION OF 5 YEAR 5.25% DEBENTURES DUE DEC...
About this update from Exchange Income Corporation
[{"type":"text","content":"\n \n \n \n EXCHANGE INCOME CORPORATION ANNOUNCES EARLY REDEMPTION OF 5 YEAR 5.25% DEBENTURES DUE DECEMBER 31, 2022\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 WINNIPEG, MB\n \n ,\n \n Jan. 7, 2022\n \n /CNW/ - Exchange Income Corporation (TSX: EIF) (\"EIC\" or the \"Corporation\") announced today that it has delivered notice to the holders of the Corporation's outstanding 5 Year 5.25% Convertible Senior Secured Debentures due\n \n December 31, 2022\n \n (the \"Debentures\") that pursuant to Section 4.2 of the trust indenture governing the Debentures dated\n \n December 20, 2017\n \n (the \"Trust Indenture\"), the Corporation will, effective\n \n February 11, 2022\n \n (the \"Redemption Date\"), redeem all issued and outstanding Debentures, plus accrued interest thereon.\n \n \n There are currently 100,000 Debentures issued and outstanding in the aggregate principal amount of\n \n $100,000,000\n \n (\n \n $1,000\n \n per Debenture) as at the date hereof. Accordingly, on the Redemption Date, subject to compliance with the Trust Indenture, the holder of each Debenture (unless converted prior to the Redemption Date in accordance with the terms of the Trust Indenture) will receive a total payment of\n \n $1,006.041096\n \n , comprised of a principal repayment of\n \n $1,000.00\n \n and interest of\n \n $6.041096\n \n for the 42 day period from\n \n December 31, 2021\n \n until the Redemption Date.  All interest on the Debentures shall cease from and after the Redemption Date.\n \n \n Certificates representing the Debentures must be tendered to the indenture trustee, BNY Trust Company of\n \n Canada\n \n , 1 York Street, 6\n \n th\n \n Floor,\n \n Toronto, Ontario\n \n M5J 0B6 Attention: Operations Dept.\n \n \n \n About Exchange Income Corporation\n \n \n \n Exchange Income Corporation is a diversified acquisition-oriented company, focused in two sectors: aerospace & aviation services and equipment, and manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-establis...