Exchange Income Corporation Announces Closing of $600 Million Offering of Investment Grade Senior Unsecured Notes

This section is Partnership Content suppliedThe content in this section is supplied by Business Wire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Business Wire Article contentWINNIPEG, Manitoba — Exchange Income Corporation (TSX: EIF) (“EIC” or the “Corporation”) a diversified, acquisition-oriented company focused on opportunities in the Aerospace & Aviation and Manufacturing segments, is pleased to announce the successful closing of its previously announced offering (the “Offering”) of $600 million aggregate principal amount of 4.324% senior unsecured notes due March 13, 2031 (the “Notes”). The Notes were offered on a private placement basis in each of the Provinces of Canada in reliance on exemptions from the prospectus requirements under applicable securities laws. The net proceeds from the Offering are expected to be used to repay existing indebtedness under the Corporation’s credit facilities and for general corporate purposes. The Notes have been assigned a final rating of BBB (low), with a stable trend, by Morningstar DBRS.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentArticle contentMike Pyle, CEO, commented, “We are excited to have completed our inaugural transaction within the Canadian investment grade bond market. The added liquidity at a fixed rate will be available to fund the next stage of EIC’s growth, whether that be through organic growth, the acquisition of new businesses to our portfolio, or both. The additional access to capital does not change our conservative view towards leverage or our return threshold required for new investment opportunities. The Offering was materially oversubscribed and the ability to complete the offering during a time of economic turbulence is a testament to the EIC’s resilience and business model.”Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentRichard Wowryk, CFO commented, “The addition of investment grade bonds into our capital structure modernizes our balance sheet to reflect our size and provides us with fixed rate capital to replace the previously redeemed convertible debentures. The net proceeds of the Offering will reduce our credit facility debt, maintaining our proforma aggregate leverage ratio at 15-year lows. I want to personally thank our joint lead agents and active bookrunners, RBC Capital Markets, CIBC Capital Markets and National Bank Capital Markets, for their help in achieving this milestone for EIC.”Article contentAbout Exchange Income CorporationArticle contentExchange Income Corporation is a diversified acquisition-oriented company, focused in two segments: Aerospace & Aviation 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.sedarplus.ca).Article contentCaution concerning forward-looking statementsArticle contentThe 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. Many of these forward-looking statements may be identified by looking for words such as “believes”, “expects”, “will”, “may”, “intends”, “projects”, “anticipates”, “plans”, “estimates”, “continues” and similar words or the negative thereof. These uncertainties and risks include, but are not limited to, external risks, operational risks, financial risks and human capital risks. External risks include, but are not limited to, risks associated with economic and geopolitical conditions, competition, government funding for Indigenous health care, access to capital, market trends and innovation, general uninsured loss, climate, acts of terrorism, armed conflict, labour and/or social unrest, pandemic, level and timing of government spending, government-funded programs and environmental, social and governance. Operational risks include, but are not limited to, significant contracts and customers, operational performance and growth, laws, regulations and standards, acquisitions (including receiving any requisite regulatory approvals thereof), concentration and diversification, maintenance costs, access to parts and relationships with key suppliers, casualty losses, environmental liability, dependence on information systems and technology, cybersecurity, international operations, fluctuations in sales prices of aviation related assets, fluctuations in purchase prices of aviation related assets, warranty, performance guarantees, global offset and intellectual property risks. Financial risks include, but are not limited to, availability of future financing, income tax matters, commodity risk, foreign exchange, interest rates, credit facilities, trust indenture, dividends, unpredictability and volatility of securities pricing, dilution, credit and credit rating risk. Human capital risks include, but are not limited to, reliance on key personnel, employees and labour relations and conflicts of interest.Article contentArticle contentExcept as required by Canadian securities laws, Exchange Income Corporation 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.sedarplus.caArticle content.Article contentArticle contentArticle contentArticle contentView source version on businesswire.com: Article content https://www.businesswire.com/news/home/20260312806911/en/Article contentArticle contentContactsArticle contentFor further information, please contactArticle content:Article contentMike Pyle Chief Executive Officer Exchange Income Corporation (204) 982-1850 MPyle@eig.ca Pam Plaster Vice President, Investor Development Exchange Income Corporation (204) 953-1314 PPlaster@eig.ca#distroArticle contentTrending Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket Wealth How the war in Iran is fundamentally shifting the outlook for mortgage rates Mortgages CRA refused to cancel TFSA overcontribution tax Personal Finance 82 Canadians crack Forbes’ 2026 list of the world’s billionaires. 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Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket Wealth How the war in Iran is fundamentally shifting the outlook for mortgage rates Mortgages CRA refused to cancel TFSA overcontribution tax Personal Finance 82 Canadians crack Forbes’ 2026 list of the world’s billionaires. Here's the top 10 High Net Worth What's next for Roots, the iconic Canadian brand that said it might put itself up for sale? Retail & Marketing