CI Financial Announces Redemption Price for Debentures due July 2023
18 February 2021 - 8:25AM
Business Wire
CI Financial Corp. (“CI”) (TSX: CIX; NYSE: CIXX) today announced
that it has determined the redemption price for its $325 million
principal amount of 3.520% debentures due July 20, 2023 (“2023
Debentures”). As previously announced, the redemption date is
February 19, 2021 (the “Redemption Date”). The redemption price per
$100 principal amount of the 2023 Debentures is $107.002 plus
accrued and unpaid interest of $0.280, which will be paid up to the
day preceding the Redemption Date.
About CI Financial
CI Financial Corp. is an independent company offering global
asset management and wealth management advisory services. CI
managed and advised on approximately C$231.8 billion in client
assets as at January 31, 2021. CI’s primary asset management
businesses are CI Global Asset Management (CI Investments Inc.) and
GSFM Pty Ltd., and it operates in Canadian wealth management
through Assante Wealth Management (Canada) Ltd., CI Private Counsel
LP, Aligned Capital Partners Inc., CI Direct Investing (WealthBar
Financial Services Inc.), and CI Investment Services Inc.
CI’s U.S. wealth management businesses consist of Balasa
Dinverno Foltz LLC, Bowling Portfolio Management LLC, The Cabana
Group, LLC, Congress Wealth Management, LLC, Doyle Wealth
Management, LLC, One Capital Management, LLC, The Roosevelt
Investment Group, LLC, RGT Wealth Advisors, LLC, Stavis & Cohen
Private Wealth, LLC and Surevest, LLC.
CI is listed on the Toronto Stock Exchange under CIX and on the
New York Stock Exchange under CIXX. Further information is
available at www.cifinancial.com.
All figures in Canadian dollars.
This press release contains forward-looking statements
concerning anticipated future events, results, circumstances,
performance or expectations with respect to CI Financial Corp.
(“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”. Forward-looking statements in
this press release include statements about the intention to early
redeem the 2023 Debentures, including timing and price. These
statements and other forward-looking 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. 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 these forward-looking
statements include that the investment fund industry will remain
stable and that interest rates will remain relatively stable.
Factors that could cause actual results to differ materially from
expectations include, among other things, general economic and
market conditions, including interest and foreign exchange rates,
global financial markets, changes in government regulations or in
tax laws, industry competition, technological developments and
other factors described or discussed in CI’s disclosure materials
filed with applicable securities regulatory authorities from time
to time. 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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version on businesswire.com: https://www.businesswire.com/news/home/20210217005991/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations Canada Murray Oxby Vice-President,
Corporate Communications 416-681-3254 moxby@ci.com
United States Trevor Davis, Gregory FCA for CI Financial
443-248-0359 cifinancial@gregoryfca.com
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