New Issue: CI Financial sells $700 million 3.2% 10-year notes at 230 bps spread

By Cristal Cody

Tupelo, Miss., Dec. 10 – CI Financial Corp. sold $700 million of 3.2% 10-year senior notes (/BBB/DBRS: BBB (high)) at 99.873 to yield 3.215% on Thursday, according to an FWP filing with the Securities and Exchange Commission.

The issue priced with a spread of 230 basis points over Treasuries.

BofA Securities Inc. was the bookrunner.

Proceeds will be used to repay debt under the company’s credit facility and for general corporate purposes.

CI Financial is a global asset and wealth management company based in Toronto.

Issuer:	CI Financial Corp.
Amount:	$700 million
Description:	Senior notes
Maturity:	Dec. 17, 2030
Bookrunner:	BofA Securities Inc.
Joint lead manager:	J.P. Morgan Securities LLC
Co-managers:	RBC Capital Markets, LLC, CIBC World Markets Corp., National Bank of Canada Financial Inc., Raymond James (USA) Ltd., TD Securities (USA) LLC, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC
Coupon:	3.2%
Price:	99.873
Yield:	3.215%
Spread:	Treasuries plus 230 bps
Call features:	Make-whole call before Sept. 17, 2030 at Treasuries plus 35 bps; thereafter at par
Change-of-control put:	101%
Trade date:	Dec. 10
Settlement date:	Dec. 17
Ratings:	S&P: BBB
	DBRS: BBB (high)
Distribution:	SEC registered

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