TORONTO–(Small business WIRE)–Dec 18, 2020–
CI Monetary Corp. (“CI”) (TSX: CIX NYSE: CIXX) today declared its intention to redeem all of the remarkable $200 million principal quantity of 2.775% debentures owing November 25, 2021 (“2021 Debentures”). The 2021 Debentures have been issued November 25, 2016.
CI intends to redeem the 2021 Debentures on or about January 18, 2021 (the “Redemption Date”) in accordance with their phrases. The redemption price will be the increased of (i) the 2021 Canada Yield Rate as defined in the supplemental have faith in indenture underneath which the 2021 Debentures were issued, and (ii) par, with each other with accrued and unpaid desire up to but excluding the Redemption Day. See of redemption of the 2021 Debentures will be specified to CDS Clearing and Depository Companies Inc. (“CDS”) and Computershare Belief Enterprise of Canada afterwards right now.
“We go on to prudently deal with our debt,” mentioned Kurt MacAlpine, CI Chief Govt Officer. “The early redemption will preserve on fascination cost and is element of our commitment to reduce CI’s leverage above time.”
Helpful holders of 2021 Debentures (held by an account with a lender, brokerage agency, economical institution or other intermediary) that preserve their pursuits by way of CDS must get hold of their CDS client service agent with any queries about the redemption. Alternatively, advantageous holders with any issues about the redemption should get hold of their respective lender, brokerage organization, monetary institution or other middleman which holds passions in the 2021 Debentures on their behalf.
About CI Economic
CI Fiscal Corp. is an unbiased company featuring world-wide asset management and wealth administration advisory companies. CI manages and advises on close to $216 billion in customer property (as at November 30, 2020). CI’s primary asset management corporations are CI International Asset Administration (CI Investments Inc.) and GSFM Pty Ltd., and it operates in prosperity administration by means of Assante Prosperity Management (Canada) Ltd., CI Personal Counsel LP, Aligned Money Companions Inc., CI Immediate Investing (WealthBar Fiscal Companies Inc.), CI Expenditure Providers Inc., Balasa Dinverno Foltz LLC, Bowling Portfolio Administration LLC, The Cabana Group, LLC, Congress Wealth Management, LLC, 1 Funds Management, LLC and Surevest LLC. CI is shown on the Toronto Stock Exchange underneath CIX and on the New York Stock Trade less than CIXX. Further more facts is offered at www.cifinancial.com.
All figures in Canadian dollars.
This press launch has forward-seeking statements relating to expected foreseeable future gatherings, benefits, instances, performance or anticipations with regard to CI Economic Corp. (“CI”) and its products and solutions and companies, such as its company functions, tactic and economical overall performance and condition. Ahead-hunting statements are generally recognized by text these types of as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and identical references to long run intervals, or conditional verbs this sort of as “will”, “may”, “should”, “could” or “would”. Forward-seeking statements in this push launch incorporate statements about the intention to early redeem the 2021 Debentures, together with timing and cost . These statements and other forward-seeking statements are not historic information but as an alternative symbolize administration beliefs with regards to long term occasions, many of which by their nature are inherently unsure and outside of management’s command. Even though administration believes that the expectations mirrored in these kinds of ahead-seeking statements are dependent on sensible assumptions, such statements require risks and uncertainties. The substance things and assumptions applied in achieving the conclusions contained in these ahead-seeking statements involve that the financial investment fund industry will stay steady and that fascination costs will continue to be relatively secure. Elements that could result in real benefits to differ materially from anticipations involve, among other points, normal financial and sector disorders, together with desire and foreign trade charges, worldwide economic marketplaces, variations in federal government regulations or in tax laws, marketplace level of competition, technological developments and other aspects described or discussed in CI’s disclosure components filed with relevant securities regulatory authorities from time to time. The foregoing checklist is not exhaustive and the reader is cautioned to take into consideration these and other factors thoroughly and not to place undue reliance on forward-searching statements. Other than as specially essential by relevant legislation, CI undertakes no obligation to update or change any forward-wanting statement just after the date on which it is manufactured, irrespective of whether to replicate new data, long run occasions or otherwise.
CI World Asset Management is a registered small business identify of CI Investments Inc.
Look at source version on businesswire.com:https://www.businesswire.com/news/household/20201218005151/en/
Get in touch with: Investor Relations
Jason Weyeneth, CFA
Vice-President, Investor Relations & Tactic
[email protected] Media Relations
Vice-President, Company Communications
[email protected] United States
Trevor Davis, Gregory FCA for CI Money
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Source: CI Economical Corp.
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