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Exchange Income Corp. 5.35% Convertible Debentures New Issue

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Exchange Income Corp.(EIF:TSX) is issuing $75M of 5.35% convertible unsecured subordinated debentures maturing Jun-30-2025.

The Debentures are not redeemable before Jun-30-2021 (approximately 3 years after closing). After Jun-30-2021 and prior to Jun-30-2023, the debentures are redeemable providing the commons share price exceeds 125% of the Conversion Price of $49. On and after Jun-30-2023 and prior to the maturity date, the debentures are redeemable at par.

The conversion price of $49.00 per share represents at 43% premium to the share price as of 34.32 (as of Jun-6-2017)

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