CI Financial completes debenture offering

Torys acted as counsel to the syndicate of agents led by CIBC Capital Markets with a team that included Glen Johnson, Eric Foster and Sharon Au.

On November 25, 2016, CI Financial Corp. ("CI") announced that it successfully completed its previously announced offering of debentures with an aggregate principal amount of C$200 million. The debentures bear interest at a rate of 2.775% per annum and mature on November 25, 2021. The debentures were offered through a syndicate of dealers led by CIBC Capital Markets.

CI intends to use the net proceeds of the offering to repay approximately C$200 million of outstanding indebtedness under CI's credit facility and for general corporate purposes.

CI is an independent, Canadian-owned wealth management company with approximately C$149 billion in fee-earning assets as of October 31, 2016.

Further information can be found on Canada Newswire's website.