CI Financial says holders of 2025, 2027 debentures OK amendments

By Wendy Van Sickle

Columbus, Ohio, April 4 – CI Financial Corp. announced it obtained approval of some previously announcement amendments from holders of two series of its debentures at meetings held Thursday, according to a news release.

As announced on March 6, the company was proposing to amend the terms of its 3.759% debentures due 2025 and its 3.904% debentures due 2027.

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

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

Meetings were 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 company previously said meetings would be canceled independently if more than two-thirds of holders for that particular issue submitted consents before 5 p.m. ET on March 19.

Debentureholders who delivered a valid consent instruction before the deadline were eligible to receive a consent fee of C$6.00 per C$1,000 of 2025 debentures and C$12.50 per C$1,000 of 2027 debentures.

For the consent fee to be paid, the proposed amendments for both series needed 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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