CI Financial Income Fund Completes $210M Offering

On December 30, 2008, CI Financial Income Fund completed a bought deal offering of 15,000,000 trust units at a purchase price of $14 per trust unit, for aggregate gross proceeds of $210,000,000. The offering was made pursuant to CI Financial's short-form base shelf prospectus. The net proceeds will be used for general corporate purposes, including the enhancement of working capital and the repayment of debt under CI Financial's existing credit facility.
The trust units were sold in Canada to a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc. and which included Blackmont Capital Inc. and Genuity Capital Markets.

CI Financial was represented in-house by Sheila Murray, senior vice-president, general counsel and corporate secretary, and by Blake, Cassels & Graydon LLP, with a team comprised of Brendan Reay, John Wilkin, James Hoffner and Cynthia Sargeant (securities), and by Goodmans LLP, with a team comprised of Mitchell Sherman, Alan Bowman and Jarrett Freeman (tax).

The underwriters were represented by Davies Ward Phillips & Vineberg LLP, with a team comprised of Shawn McReynolds, Mindy Gilbert, Robert Murphy, Conrad Druzeta, Greg Harnish and David Schulze (securities), and Duncan Osborne and Paul Lamarre (tax). Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to the transaction with a team comprised of Riccardo Leofanti, Ryan Dzierniejko and David Beeston.


Greg Harnish Brendan D. Reay Conrad Druzeta John Wilkin Mitchell J. Sherman David R. Schulze Paul Lamarre James Hoffner Mindy B. Gilbert Riccardo Leofanti Robert S. Murphy Jarrett Freeman Cynthia K. Sargeant D. Shawn McReynolds Duncan G. Osborne Alan Bowman


Blake, Cassels & Graydon LLP Goodmans LLP Davies Ward Phillips & Vineberg LLP Skadden, Arps, Slate, Meagher & Flom LLP