CI Financial completes debenture offering
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 7, 2015 – CI Financial Corp. (“CI”) announced today that it has successfully completed its previously announced offering of debt securities with an aggregate principal amount of $450 million. The debentures bear interest at a rate of 2.645% per annum and will mature on December 7, 2020.
The debentures have been provided a rating of A- by Standard & Poor’s and A (low) by DBRS.
The debentures were issued under a prospectus supplement dated December 2, 2015 to CI’s existing short form base shelf prospectus dated January 6, 2014. Details of the offering are set out in the prospectus supplement, which is available on SEDAR at www.sedar.com. The debentures were offered through a syndicate of dealers led by CIBC Capital Markets.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About CI Financial
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company with approximately $142.8 billion in assets as of November 30, 2015. CI offers a broad range of investment products and services, and is on the Web at www.cifinancial.com.
This press release contains forward-looking statements with respect to CI and the offering of its debt securities, including in relation to the anticipated closing date and use of the net proceeds of the offering. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.
For further information: Investor Relations, CI Financial Corp., (416) 364-1145