legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

## CI Financial Corp. Announces Successful Pricing of Private Offering

Toronto, May 22, 2024 – CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) has successfully priced a private offering (the “Offering”) of US$675.0 million aggregate principal amount of its 7.500% notes due 2029 (the “Notes”).

The Offering is expected to close on May 30, 2024, subject to satisfaction of customary closing conditions. CI intends to use approximately US$645.0 million of the net proceeds from the Offering to finance the repurchase of any and all of its outstanding 4.100% Notes due 2051 (the “2051 Notes”) in connection with the Company’s concurrent cash tender offer to purchase any and all of the 2051 Notes (the “Tender Offer”), and to pay related transaction fees and expenses, including up to an estimated US$40.0 million of potential cash tax expense payable in connection with the early retirement of the 2051 Notes, assuming the tender of all outstanding 2051 Notes in the Tender Offer. CI intends to use the remaining proceeds from the Offering for general corporate purposes, which may include repurchases and/or repayments of certain of its other existing indebtedness and potential future repurchases of its common shares. To the extent that the 2051 Notes are not purchased in the Tender Offer, CI intends to use the portion of the net proceeds intended to be used to retire 2051 Notes solely for other repurchases and/or repayments of its existing indebtedness.

### How AI legalese decoder Can Help
The AI legalese decoder can assist in understanding the legal jargon and complexities involved in private offerings like the one announced by CI Financial Corp. It can break down the legal language used in documents related to such offerings, making it easier for individuals to comprehend the terms and implications of such transactions.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction, including Canada, and may not be offered or sold in the United States or Canada absent registration or an applicable exemption from such registration requirements. The Notes will be offered in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act and outside the United States, including on a private placement basis in Canada to certain “accredited investors” who are not individuals and are “permitted clients” under applicable Canadian securities laws, in reliance on the exemption from registration set forth in Regulation S under the Securities Act.

This press release does not and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release does not constitute an offer to purchase or the solicitation of an offer to sell any 2051 Notes in the Tender Offer.

### About CI Financial Corp.
CI is a diversified global asset and wealth management company operating primarily in Canada, the United States, and Australia. Founded in 1965, CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite. CI manages, advises on, and administers approximately $467.9 billion in client assets (as at April 30, 2024).

CI operates in three segments:
– Asset Management, including CI Global Asset Management in Canada and GSFM in Australia.
– Canadian Wealth Management, including CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, Northwood Family Office, Coriel Capital, CI Direct Investing, and CI Investment Services.
– U.S. Wealth Management, including Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients across the United States.

CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX).

### Forward-Looking Statements
This press release contains forward-looking statements concerning anticipated future events, results, circumstances, performance, or expectations with respect to CI and its products and services, including its business operations, strategy, and financial performance and condition.

The AI legalese decoder can help individuals in interpreting and understanding the nuances of forward-looking statements that are often part of such announcements, providing clarity on the potential risks and uncertainties associated with these statements.

**Contacts**
**Investor Relations**
Jason Weyeneth, CFA
Vice-President, Investor Relations & Strategy
416-681-8779
[email protected]

**Media Relations**
Canada
Murray Oxby
Vice-President, Corporate Communications
416-681-3254
[email protected]

United States
Jimmy Moock
Managing Partner, StreetCred
610-304-4570
[email protected]
[email protected]

For more information, visit the [source version on businesswire.com](https://www.businesswire.com/news/home/20240522218683/en/).

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link