CI Financial (TSE:CIX) has released an update.
CI Financial Corp. has announced a private offering of US$675 million in 7.500% notes due in 2029, with plans to close the deal by May 30, 2024. The company aims to use the majority of the proceeds to repurchase outstanding 4.100% notes due 2051 and cover related expenses, with any remaining funds allocated for general corporate needs, including debt repayment and potential share repurchases. The notes are offered to qualified institutional buyers and certain Canadian accredited investors, without registration under the U.S. or Canadian securities laws.
For further insights into TSE:CIX stock, check out TipRanks’ Stock Analysis page.
