Exchange Income to redeem in full 6.5% series H convertibles due 2017

By Marisa Wong

Madison, Wis., June 8 – Exchange Income Corp. said it will redeem all of its outstanding 6.5% series H convertible senior secured debentures due May 31, 2017 on July 15.

The debentures will be redeemed at C$1,008.01370, comprised of a principal repayment of C$1,000 and interest of C$8.01370 for the 45-day period from May 31 until the redemption date.

As of June 8, there are 21,893 debentures outstanding in the aggregate principal amount of C$21,893,000.

“The redemption of this series of convertible debentures further strengthens our balance sheet. Upon completion, [Exchange Income] will have no debt maturing until 2018,” Mike Pyle, chief executive officer of Exchange Income, said in a press release.

Exchange Income is a Winnipeg, Man.-based acquisition-oriented company focused in two sectors: aviation services and equipment and manufacturing.

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