50 SKY SHADES - World aviation news

Exchange Income Corporation Announces $75 Million Bought Deal Financing of Common Shares

Download: Printable PDF Date: 28 Aug 2015 05:46 category:
Exchange Income Corporation Announces $75 Million Bought Deal Financing of Common Shares - Finance publisher
Tatjana Obrazcova

Exchange Income Corporation (TSX:EIF) (the “Corporation”) announced today that it has entered into an agreement to sell, on a bought deal basis, 3,019,000 common shares (the “Shares”) from treasury to a syndicate of underwriters co-led by National Bank Financial Inc. and Laurentian Bank Securities Inc. and including CIBC World Markets Inc., TD Securities Inc., Scotiabank, RBC Capital Markets Inc., Raymond James Ltd., and Altacorp Capital Inc. (the “Underwriters”). The Shares will be offered at a price of $24.85 per Share, for gross proceeds to the Corporation of $75,022,150 (the “Offering”). The net proceeds of the sale of the Shares will be used to pay down debt outstanding under current credit facilities and for general and corporate purposes.

The Corporation has also granted to the underwriters an over-allotment option to purchase 452,850 additional Shares, representing 15% of the size of the offering. The over-allotment option may be exercised until 30 days following the closing of the offering.

Closing of the Offering is expected to occur on or about September 17, 2015. The Offering is subject to normal regulatory approvals, including approval of the Toronto Stock Exchange of the listing of the Shares, and will be offered in each of the provinces of Canada other than the province of Quebec by way of a short form prospectus.

The Shares have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from the registration requirements.

Loading comments for Exchange Income Corporation Announces $75 Million Bought Deal Financing of Common Shares...


Leonardo promotes its helicopters and defence electronics at Seoul ADEX 2019

Leonardo is promoting new solutions aiming to meet the Country’s demanding requirements for technology and industry cooperation. The Company’s AW159 already provides world-cla...

Long term component repair agreement - Czech Airlines Technics & VAS Aero Services

VAS Aero Services and Czech Airlines Technics (CSAT), a subsidiary company of Prague Airport and provider of aircraft repair and maintenance services, have announced a long-term component re...

100% Enrollment for Embraer E-Jet Operators in Asia Pacific for its Pool Program

Important announcement was made by Embraer at MRO Europe -  all E-Jet operators in Asia Pacific have enrolled in Embraer’s Pool Program. This follows a Pool Program deal signed between...

Qantas first Project Sunrise New York to Sydney non-stop research flight

Qantas Flight 7879, with 50 passengers and crew on board, will depart New York’s John F Kennedy Airport at 9pm New York as the first commercial airline to fly non-stop between New York and Sydne...