Exchange Income Closes $600M Offering of Investment Grade Senior Unsecured Notes

02:40 PM EDT, 03/13/2026 (MT Newswires) -- Exchange Income (EIFZF) on Friday announced the closing of its previously announced offering of $600 million aggregate principal amount in 4.324% senior unsecured notes due March 13, 2031.

The company said that 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 are expected to be used to repay existing indebtedness under the corporation's credit facilities and for general corporate purposes, added the company.

In a statement the company said that the notes have been assigned a final rating of BBB (low), with a stable trend, by Morningstar DBRS.

"We are excited to have completed our inaugural transaction within the Canadian investment grade bond market," said Chief Executive Officer, Mike Pyle. "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."

The company's shares were last seen down $0.03 at $98.88 on the Toronto Stock Exchange.

Price: 98.87, Change: -0.04, Percent Change: -0.04

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