CI Financial Corp. Announces Pricing Terms of Cash Tender Offer for Any and All of its Outstanding 4.100% Notes due 2051
The full terms and conditions of the Tender Offer are described in an Offer to
The consideration to be paid in the Tender Offer for the Notes accepted for purchase was determined by reference to the fixed spread specified for the Notes over the yield (the “Reference Yield”) based on the bid-side price of the Reference
In addition, all payments for Notes tendered on or before
The following table sets forth the aggregate principal amount of Notes that the Company has accepted for purchase and pricing information for the Tender Offer:
Title of
|
CUSIP /
|
Principal
|
UST
|
Bloomberg
|
Reference
|
Fixed Spread
|
Total Tender
|
Principal
|
|||||||||||
4.100% Notes due 2051 |
125491 AP5 / US125491AP51 |
|
4.25% UST due |
FIT1 |
4.446% |
+245 |
|
|
|||||||||||
-
Includes the Early Tender Premium of
$50 per$1,000 principal amount of Notes for each Series. -
Payable for each
$1,000 principal amount of applicable Notes validly tendered at or prior to the Early Tender Deadline and accepted for purchase by the Company and includes the Early Tender Premium. In addition, holders whose Notes are accepted will also receive interest on such Notes accrued to the applicable settlement date.
The withdrawal rights for the Tender Offer expired at
Notes that have been validly tendered and not validly withdrawn at or before the Early Tender Deadline and are accepted in the Tender Offer will be purchased, retired and cancelled by the Company on the Early Settlement Date.
This news release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Tender Offer is made only by the Offer to
None of the Company, the Company’s board of directors, the Dealer Managers, the Tender Agent and Information Agent or the trustees with respect to the Notes is making any recommendation as to whether holders should tender any Notes in response to the Tender Offer, and neither the Company nor any such other person has authorized any person to make any such recommendation. Holders must make their own decision as to whether to tender any of their Notes, and, if so, the principal amount of Notes to tender.
About
CI is a diversified global asset and wealth management company operating primarily in
CI operates in three segments:
-
Asset Management, which includes CI Global Asset Management, which operates in
Canada , andGSFM , which operates inAustralia . -
Canadian Wealth Management, which includes the operations of 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, which includes Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients acrossthe United States .
CI is headquartered in
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. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. In particular, these statements include, without limitation, statements about the expected timing of the Tender Offer and the terms and conditions of the Tender Offer.
Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in the forward-looking statements include that asset levels will remain stable. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.
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Investor Relations
Vice-President, Investor Relations & Strategy
416-681-8779
jweyeneth@ci.com
Media Relations
Vice-President, Corporate Communications
416-681-3254
moxby@ci.com
Managing Partner, StreetCred
610-304-4570
jimmy@streetcredpr.com
ci@streetcredpr.com
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