CI Financial completes debenture offering

TORONTO (May 26, 2020) – CI Financial Corp. (“CI”) (TSX: CIX) announced today that it has successfully completed its previously announced offering of debentures with an aggregate principal amount of $450 million. The debentures bear interest at a rate per annum of 3.759% and will mature on May 26, 2025.

The debentures have been provided a rating of BBB by Standard & Poor’s and BBB (high) (Under Review with Negative Implications) by DBRS.

The debentures were issued under a prospectus supplement dated May 21, 2020 to CI’s short form base shelf prospectus dated December 17, 2019. Details of the offering are set out in the prospectus supplement, which is available on SEDAR at www.sedar.com. The debentures were offered through a syndicate of dealers led by National Bank Financial Inc. and CIBC Capital Markets.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About CI Financial

CI Financial Corp. (TSX: CIX) is an independent company offering global asset management and wealth management advisory services. CI held approximately C$166 billion in fee-earning assets as of April 30, 2020. CI’s primary asset management businesses are CI Investments Inc. and GSFM Pty Ltd., and it operates in wealth management through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, WealthBar Financial Services Inc., BBS Securities Inc., One Capital Management, LLC and Surevest LLC. Further information is available at www.cifinancial.com.

For further information:

Douglas J. Jamieson
Executive Vice-President and Chief Financial Officer
CI Financial Corp.
(416) 364-1145
investorrelations@ci.com