CI Financial (TSE:CIX) has released an update.
CI Financial Corp. has announced a successful private offering of $675 million in notes with a 7.5% yield, maturing in 2029. The proceeds are primarily earmarked for a tender offer to repurchase their outstanding 4.1% notes due in 2051, with any remaining funds to be used for general corporate purposes, including debt repayments and potential common share buybacks. The notes, not registered in the U.S. or Canada, are targeted at qualified institutional buyers and certain accredited Canadian investors.
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