WINNIPEG, MB, Jan. 7, 2022 /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 December 31, 2022 (the "Debentures") that
pursuant to Section 4.2 of the trust indenture governing the
Debentures dated December 20, 2017
(the "Trust Indenture"), the Corporation will, effective
February 11, 2022 (the "Redemption
Date"), redeem all issued and outstanding Debentures, plus accrued
interest thereon.
There are currently 100,000 Debentures issued and outstanding in
the aggregate principal amount of $100,000,000 ($1,000 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 $1,006.041096, comprised of a principal repayment
of $1,000.00 and interest of
$6.041096 for the 42 day period from
December 31, 2021 until the
Redemption Date. All interest on the Debentures shall cease
from and after the Redemption Date.
Certificates representing the Debentures must be tendered to the
indenture trustee, BNY Trust Company of Canada, 1 York Street, 6th Floor,
Toronto, Ontario M5J 0B6
Attention: Operations Dept.
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).
Caution concerning forward-looking statements
The statements contained in this news release that are
forward-looking are based on current expectations and are subject
to a number of uncertainties and risks, and actual results may
differ materially. These uncertainties and risks include, but are
not limited to, COVID-19 and pandemic related risks, the dependence
of Exchange Income Corporation on the operations and assets
currently owned by it, the degree to which its subsidiaries are
leveraged, the fact that cash distributions are not guaranteed and
will fluctuate with the Corporation's financial performance,
dilution, restrictions on potential future growth, the risk of
shareholder liability, competitive pressures (including price
competition), changes in market activity, the cyclicality of the
industries, seasonality of the businesses, poor weather conditions,
and foreign currency fluctuations, legal proceedings, commodity
prices and raw material exposure, dependence on key personnel, and
environmental, health and safety and other regulatory requirements.
Except as required by Canadian Securities Law, EIC does not
undertake to update any forward-looking statements; such statements
speak only as of the date made. Further information about these and
other risks and uncertainties can be found in the disclosure
documents filed by Exchange Income Corporation with the securities
regulatory authorities, available at www.sedar.com.
SOURCE Exchange Income Corporation