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Exchange Income Corporation Announces the Completion of its Redemption of its 7 Year 6.00% Convertible Unsecured Subordinated Debentures due March 31, 2021
Exchange Income Corporation Announces the Completion of its Redemption of its 7 Year 6.00%...
About this update from Exchange Income Corporation
[{"type":"text","content":"\n\n\n\nExchange Income Corporation Announces the Completion of its Redemption of its 7 Year 6.00% Convertible Unsecured Subordinated Debentures due March 31, 2021\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\nCanada NewsWire\nWINNIPEG, April 26, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n WINNIPEG, April 26, 2019 /CNW/ - Exchange Income Corporation (TSX: EIF) (the \"Corporation\") is pleased to announce the completion of its redemption of its 7 year 6.00% convertible unsecured subordinated debentures due March 31, 2021 (the \"Debentures\") on April 26, 2019 (the \"Redemption Date\"). \nOn March 26, 2019, the Corporation issued a notice of redemption to the holders of the Debentures to redeem all issued and outstanding Debentures at a redemption price equal to their principal amount, plus accrued and unpaid interest thereon up to, but excluding, the Redemption Date. Holders of the Debentures had the option to convert such Debentures into common shares of the Corporation (\"Common Shares\") prior to the Redemption Date at a price of $31.70 per Common Share. Debentures in the principal amount of $22,436,000 were converted into Common Shares between March 26, 2019 and the Redemption Date. On the Redemption Date, Debentures in the principal amount of $3,130,000 were redeemed by the Corporation.\nAbout Exchange Income Corporation\nExchange 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-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth.\nThe Corporation currently operates two segments: Aerospace & Aviation and Manufacturing. The Aerospace & Aviation segment consists of the operations of Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service (operating as a division of Perimete...