Exchange Income Corporation Announces Inaugural Offering of Investment Grade Senior Unsecured Notes

Executive Summary

• Exchange Income Corporation priced a $600 million senior unsecured notes offering (4.324% due March 13, 2031).
• Net proceeds will be used to repay existing indebtedness under the company’s credit facilities and for general corporate purposes.
• The notes received a provisional BBB‑low rating (stable) from Morningstar DBRS; the offering is being led by RBC Capital Markets, CIBC Capital Markets and National Bank Capital Markets.

Key Details

• Offering Size: $600 million principal amount of senior unsecured notes.
• Interest Rate & Maturity: 4.324% per annum, due March 13, 2031.
• Use of Proceeds: Primarily to repay existing indebtedness under the corporation’s credit facilities; remainder for general corporate purposes.
• Rating: provisional BBB (low) with a stable trend assigned by Morningstar DBRS.
• Guarantee: Notes are guaranteed on a senior unsecured basis by each wholly‑owned subsidiary that is a guarantor under the corporation’s credit facilities.
• Placement Structure: Private placement in Canadian provinces, relying on prospectus exemptions; offered only to accredited investors.
• Lead Managers / Bookrunners: RBC Capital Markets, CIBC Capital Markets and National Bank Capital Markets (joint lead agents and active bookrunners).
• Closing Date: Expected on or about March 13, 2026, subject to customary closing conditions.

Notable Quotes

(No direct quotes were included in the release.)