NR 09:56 AM EDT, 07/30/2021 (MT Newswires) -- Exchange Income Corp. (EIF.TO) said Friday that it has closed a bought deal offering of $143.75 million in seven-year 5.25% convertible unsecured subordinate debentures.
The offering includes the fully exercised over-allotment option of $18.75 million granted to the underwriters, which were co-led by National Bank Financial Inc. and CIBC Capital Markets. The notes mature July 31, 2028.
Exchange Income intends to use the net proceeds of the offering to fund the redemption of its outstanding seven-year 5.25% convertible unsecured subordinated notes maturing June 30, 2023, as well as indebtedness under its credit facility.
The syndicate of underwriters also included Raymond James Ltd., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Cormark Securities Inc., Laurentian Bank Securities Inc., Wellington-Altus Private Wealth Inc., ATB Capital Markets Inc. and iA Private Wealth Inc.
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