On December 11, 2009, CI Financial Corp. (TSX: CIX) announced that it has entered into an agreement to sell debt securities with an aggregate principal amount of C$550 million. The offering consists of C$100 million principal amount of two-year floating rate debentures due December 16, 2011, C$250 million principal amount of three-year 3.3% debentures and C$200 million of five-year 4.19% debentures.
The offering was made under CI Financial's previously filed shelf prospectus dated December 10, 2009, and led by Scotia Capital Inc. The underwriting group also included CIBC World Markets Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Blackmont Capital Inc., Dundee Securities Inc. and GMP Securities LP.
The net proceeds of the offering will be used in part for repayment of amounts owing under its credit facility and general corporate purposes. The closing of the offering is scheduled for December 16, 2009, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX.
CI Financial, headquartered in Toronto, is a diversified wealth management firm.
Further information is found on Canada Newswire.