By Laura Lutz
Des Moines, Aug. 4 - Exchange Industrial Income Fund announced the terms of its previously disclosed private placement of subordinate convertible debentures.
The company will sell up to C$7 million of five-year 8% senior secured series D debentures.
Wellington West Capital Inc. and Desjardins Securities Inc. are the placement agents.
The conversion price of the debentures will be C$13.25 per unit.
Proceeds will be used to repay debt associated with the acquisition of aircraft by Perimeter Aviation Ltd., a subsidiary of Exchange Industrial, the expansion of the ground operation infrastructure of Perimeter Aviation Ltd. and for general purposes.
The offering is scheduled to close Aug. 11.
Exchange Industrial is a Winnipeg, Manitoba business trust.
| Issuer: | Exchange Industrial Income Fund
|
| Issue: | Subordinate convertible series D debentures
|
| Amount: | C$7 million
|
| Maturity: | 5 years
|
| Coupon: | 8%
|
| Conversion price: | C$13.25
|
| Warrants: | No
|
| Placement agents: | Wellington West Capital Inc., Desjardins Securities Inc.
|
| Announcement date: | Aug. 4
|
| Settlement date: | Aug. 11
|
| Stock symbol: | TSX Venture: EIF.UN
|
| Stock price: | C$11.45
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
