CI Financial starts consent solicitation for debentures due 2025, 2027

Chicago, March 6 – CI Financial Corp. commenced a consent solicitation for two series of debentures related to a meeting scheduled to approve amendments to the terms of the issues, according to a press release.

The company is proposing to amend the terms of its 3.759% debentures due 2025 and its 3.904% debentures due 2027.

The company is seeking to remove the covenant that prevents any subsidiary of the corporation from creating, assuming or otherwise incurring debt.

The proposed amendments would conform the supplements with each other series of debentures the corporation has issued.

Meetings will be held on April 4 starting at 10 a.m. ET for the 2025 debentures and at 10:30 a.m. ET for the 2027 debentures.

The meetings will be canceled independently if more than two-thirds of holders for that particular issue submit consents before 5 p.m. ET on March 19.

If the proposed amendments are approved via the written consent, debentureholders who delivered a valid consent instruction before the deadline will receive a consent fee. Holders of the 2025 debentures will receive a consent fee of C$6.00 per C$1,000 debenture and holders of the 2027 series will receive C$12.50 per C$1,000 debenture.

For the consent fee to be paid, the proposed amendments for both series need to be approved.

RBC Dominion Securities Inc. is the solicitation agent (416 842-6311, 877 381-2099, liability.management@rbccm.com).

Computershare Trust Co. of Canada is the tabulation agent.

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

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