CI Financial Corp. completes $450M debenture offering

On December 7, 2015, CI Financial Corp. completed a public offering $450,000,000 aggregate principal amount of 2.645 per cent debentures due 2020.

The debentures were offered on an agency basis through a syndicate led by CIBC World Markets Inc. which included National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Desjardins Securities Inc., Manulife Securities Incorporated, TD Securities Inc., GMP Securities L.P. and Casgrain & Company Limited.

The net proceeds from the sale of the debentures were in part used to finance the redemption by CI Investments Inc., which is a wholly owned subsidiary of CI Financial Corp., of all its $300,000,000 aggregate principal amount of 3.94 per cent debentures due 2016.

CI Financial Corp. was advised internally by Sheila Murray, Executive Vice President and General Counsel, and Bradley Howard, Legal Counsel.

The company was assisted by Blake, Cassels & Graydon LLP. The team was composed of Brendan Reay, John Wilkin, Kelsey Wilcox (securities) and Bryan Bailey (tax).

The agents were advised by Torys LLP. The team was composed of Philip Mohtadi, Eric Foster, Sharon Au (securities) and Saira Bhojani (tax).


Brendan D. Reay John Wilkin Philip Mohtadi