Business
Exchange Income Corporation Announces the Upsize and Extension of Its Credit Facility
Exchange Income Corporation (TSX: EIF) (“EIC” or the “Corporation”), ...
About this update from Exchange Income Corporation
[{"type":"text","content":"Exchange Income Corporation Announces the Upsize and Extension of Its Credit Facility\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n Exchange Income Corporation (TSX: EIF) (“EIC” or the “Corporation”), a diversified, acquisition-oriented company focused on opportunities in the Aerospace & Aviation and Manufacturing segments, announced the successful credit facility upsize to $3.0 billion from $2.2 billion and the extension of the maturity to April 30, 2029. The credit facility includes US$420 million allocated to EIIF Management USA, Inc., the continuation of the previously announced $200 million social loan tranche and $2,212 million allocated to the Corporation’s Canadian Head Office. The enhanced credit facility was completed with consistent pricing and terms, and included the addition of one new lender to the syndicate.\n \n\n Mike Pyle, CEO of EIC, commented, “The successful completion of the enhanced credit facility during times of uncertainty, with the same pricing as our existing facility, is a testament to our stable and resilient business model. Over the past six months we have taken several strategic steps to update our financial structure. In December 2024 and February 2025, we successfully called our Series J and K unsecured convertible debentures which reduced our debt and increased our equity by approximately $150 million. The upsize and extension of our credit facility now provides us with over $1 billion in liquidity to execute on strategic growth capital investments, enter new long term aviation and aerospace contracts, and enhances our ability to complete accretive acquisitions. Having the liquidity available provides us with the capability to deliver the strong returns that our shareholders have come to expect from EIC.\n \n\n “This enhanced facility does not mean that we are changing our conservative attitude on debt and leverage. Maintaining a strong balance sheet has always been a cornerstone of our business strategy and that remains the case today. Our conservative leverage and elevated liquidity has enabled EIC to move quickly when opportunities are uncovered, and this enhanced facility provides us with the ability to execute on our strategic initiatives.”\n \n\n “I want to thank our syndicated credit facil...