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WINNIPEG, MB, Sept. 2, 2021 /CNW/ - Exchange Income
Corporation (TSX: EIF) (the "Corporation") is pleased to announce
the completion of its redemption of its 7 year 5.25% convertible
unsecured subordinated debentures due June
30, 2023 (the "Debentures") on September 2, 2021 (the "Redemption Date").
On July 30, 2021, 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 $44.75 per Common
Share. $1,094,000 principal amount of
Debentures were converted into Common Shares between July 30, 2021 and the Redemption Date. On the
Redemption Date, Debentures in the principal amount of $67,881,000 were redeemed by the
Corporation.
About Exchange Income Corporation
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-established companies that have strong
management teams, generate steady cash flow, operate in niche
markets and have opportunities for organic growth. For more
information on the Corporation, please visit
www.ExchangeIncomeCorp.ca. Additional information relating to the
Corporation, including all public filings, is available on SEDAR
(www.sedar.com).
SOURCE Exchange Income Corporation
