CI Financial completes debenture offering

Torys acted as counsel to the syndicate of dealers led by CIBC Capital Markets with a team that included Glen Johnson and Sharon Au (corporate/securities).

On September 27, 2017, CI Financial Corp. ("CI") announced the successful completion of its previously announced offering of debentures with an aggregate principal amount of C$250 million. The debentures were offered through a syndicate of dealers led by CIBC Capital Markets. They bear interest at a rate per annum of 3.904% and mature on September 27, 2027.

CI used the net proceeds of the offering to fund the C$230 million cash component of the purchase price associated with its acquisition of Sentry Investments Corp. and its subsidiary, Sentry Investments Inc., and for general corporate purposes.

CI is an independent, Canadian-owned wealth management company with approximately C$160.7 billion in fee-earning assets as of August 31, 2017.

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