Exchange Income renews normal course bid for convertibles

Chicago, March 14 – Exchange Income Corp. received approval from the Toronto Stock Exchange on a normal course issuer bid regarding several series of debentures, according to a press release.

Pursuant to the approval, the company can purchase up to: C$7,970,200 principal amount of seven-year 5.35% convertible unsecured subordinated debentures (from June 2018); C$8,606,800 principal amount of seven-year 5.75% convertible unsecured subordinated debentures (from March 2019); C$14,373,200 principal amount of seven-year 5.25% convertible unsecured subordinated debentures (from July 2021); and C$11.4 million principal amount of seven-year 5.25% convertible unsecured subordinated debentures (from December 2021), representing 10% of the public float of each series of securities as of March 5.

As of March 5, there were C$79,702,000 principal amount of the 2028 debentures, C$86,068,000 principal amount of the March 2019 debentures, C$143,732,000 principal amount of the July 2021 debentures, and C$115 million principal amount of the December 2021 debentures issued and outstanding.

Exchange Income is a Winnipeg, Man.-based aerospace and aviation services and manufacturing company.

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