Exchange Income Corporation Announces Closing of Offering of Debentures

WINNIPEG, Feb. 11, 2014 /CNW/ – Exchange Income Corporation (TSX: EIF) (the “Corporation”) announced today that it has closed its previously announced bought deal offering (the “Offering”) of 7 Year 6.00% Convertible Unsecured Subordinated Debentures due March 31, 2021 (the “Debentures”). At the closing of the Offering, the Corporation issued $40,000,000 principal amount of Debentures to the underwriters of the Offering. The underwriters were also granted an over-allotment option to purchase up to $6,000,000 principal amount of Debenture at any time up to 30 days from the date hereof.

The is Offering co-led by National Bank Financial Inc., CIBC and Laurentian Bank Securities Inc. and included Raymond James Ltd., Scotiabank, TD Securities Inc., Canaccord Genuity Corp., AltaCorp Capital Inc. and Stonecap Securities Inc.

The Corporation intends to use the net proceeds of the Offering to reduce the indebtedness of the Corporation outstanding under its revolving credit facility and for general corporate purposes.

The Debentures are listed for trading on the Toronto Stock Exchange under the symbol “EIF.DB.G”. Investors should be aware that the final short form prospectus of the Corporation relating to the Offering contained a typographical error as it stated that the Debentures would be listed under the symbol “EIF.DB.F”.