TSX:CIX

CI Financial Reports Total Assets of $482.2 Billion for May 2024

Retrieved on: 
Wednesday, June 12, 2024
Professional Services, Finance, CIPC, Armand Assante, Financial adviser

Includes $34.0 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at May 31, 2024 ($33.6 billion at April 30, 2024 and $32.5 billion at May 31, 2023).

Key Points: 
  • Includes $34.0 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at May 31, 2024 ($33.6 billion at April 30, 2024 and $32.5 billion at May 31, 2023).
  • Includes $25.0 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at May 31, 2024 ($24.2 billion at April 30, 2024 and $5.2 billion at May 31, 2023).
  • Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
  • Month-end USD/CAD exchange rates of 1.3629, 1.3766 and 1.3575 for May 2024, April 2024 and May 2023, respectively.

CI Financial Corp. Announces Pricing Terms of Cash Tender Offer for Any and All of its Outstanding 4.100% Notes due 2051

Retrieved on: 
Wednesday, June 5, 2024
Banking, Professional Services, Finance, Trustee, Series, Tender offer, Letter, BofA Securities, Note, Person, News, RBC Capital Markets, Cryptocurrency

In addition, holders whose Notes are accepted will also receive interest on such Notes accrued to the applicable settlement date.

Key Points: 
  • In addition, holders whose Notes are accepted will also receive interest on such Notes accrued to the applicable settlement date.
  • BofA Securities, Inc. and RBC Capital Markets, LLC are the Dealer Managers for the Tender Offer.
  • The Tender Offer is made only by the Offer to Purchase and the information in this news release is qualified by reference to the Offer to Purchase.
  • Holders must make their own decision as to whether to tender any of their Notes, and, if so, the principal amount of Notes to tender.

CI Financial Corp. Announces Early Results of Cash Tender Offer for Any and All of its Outstanding 4.100% Notes due 2051

Retrieved on: 
Wednesday, June 5, 2024
Asset Management, Professional Services, Finance, Trustee, CIX, Tender offer, Letter, BofA Securities, Settlement, Person, News, RBC Capital Markets, TSX, Cryptocurrency

CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) today announced the early results of the previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.100% Notes due 2051 (the “Notes”).

Key Points: 
  • CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) today announced the early results of the previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.100% Notes due 2051 (the “Notes”).
  • The full terms and conditions of the Tender Offer are described in an Offer to Purchase dated May 21, 2024 (as it may be amended or supplemented, the “Offer to Purchase”).
  • The Funding Condition for the Tender Offer, as described in the Offer to Purchase, has been satisfied.
  • Holders must make their own decision as to whether to tender any of their Notes, and, if so, the principal amount of Notes to tender.

CI Financial Announces Commencement of Substantial Issuer Bid

Retrieved on: 
Friday, May 31, 2024
Asset Management, Professional Services, Finance, Income Tax Act, Corporation, Computershare, Maxima and minima, Expiration, NBF, System, CIX, TSX, Purchasing, Security (finance)

CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) announced today it has commenced a substantial issuer bid (the “Offer”), pursuant to which the Corporation will offer to purchase up to 5,000,000 (the “Maximum Number of Shares”) of its outstanding common shares (the “Shares”) from holders of Shares (the “Shareholders”) for cash, at a purchase price of $15.50 per Share (the “Purchase Price”).

Key Points: 
  • CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) announced today it has commenced a substantial issuer bid (the “Offer”), pursuant to which the Corporation will offer to purchase up to 5,000,000 (the “Maximum Number of Shares”) of its outstanding common shares (the “Shares”) from holders of Shares (the “Shareholders”) for cash, at a purchase price of $15.50 per Share (the “Purchase Price”).
  • The Offer would be for approximately 3.3% of the total number of issued and outstanding Shares.
  • Shares that are not taken up in connection with the Offer will be returned to Shareholders that tendered to the Offer.
  • The Corporation has further engaged NBF to act as its dealer manager and financial advisor in connection with the Offer.

CI Financial Corp. Announces Pricing of US$675.0 Million Private Offering of Notes

Retrieved on: 
Thursday, May 23, 2024
Asset Management, Professional Services, Finance, Offering, Retirement, Sale, Person, Regulation, Tender offer, CIX, TSX

CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) today announced that it has successfully priced a private offering (the “Offering”) of US$675.0 million aggregate principal amount of its 7.500% notes due 2029 (the “Notes”).

Key Points: 
  • CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) today announced that it has successfully priced a private offering (the “Offering”) of US$675.0 million aggregate principal amount of its 7.500% notes due 2029 (the “Notes”).
  • The Offering is expected to close on May 30, 2024, subject to satisfaction of customary closing conditions.
  • To the extent that the 2051 Notes are not purchased in the Tender Offer, CI intends to use the portion of the net proceeds intended to be used to retire 2051 Notes solely for other repurchases and/or repayments of its existing indebtedness.
  • This press release does not constitute an offer to purchase or the solicitation of an offer to sell any 2051 Notes in the Tender Offer.

CI Financial Reports Total Assets of $467.9 Billion for April 2024

Retrieved on: 
Tuesday, May 21, 2024
Asset Management, Professional Services, Finance, CIPC, Armand Assante, Financial adviser

Includes $33.6 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at April 30, 2024 ($34.4 billion at March 31, 2024 and $31.2 billion at April 30, 2023).

Key Points: 
  • Includes $33.6 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at April 30, 2024 ($34.4 billion at March 31, 2024 and $31.2 billion at April 30, 2023).
  • Includes $24.2 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at April 30, 2024 ($24.5 billion at March 31, 2024 and $5.2 billion at April 30, 2023).
  • Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
  • Month-end USD/CAD exchange rates of 1.3766, 1.3546 and 1.3548 for April 2024, March 2024 and April 2023, respectively.

CI Financial Corp. Announces Cash Tender Offer for Any and All of its Outstanding 4.100% Notes Due 2051

Retrieved on: 
Tuesday, May 21, 2024
Asset Management, Professional Services, Finance, Withdrawal, BofA Securities, Late, RBC Capital Markets, Person, News, Date, Trustee, Settlement, Letter, UST, Expiration, Tender, Tender offer, Settlement date, Cryptocurrency

The Tender Offer is not conditioned upon any minimum amount of Notes being tendered.

Key Points: 
  • The Tender Offer is not conditioned upon any minimum amount of Notes being tendered.
  • In order to receive the applicable Total Tender Offer Consideration, holders of Notes subject to the Tender Offer must validly tender and not validly withdraw their Notes before the Early Tender Deadline, which is 5:00 p.m., New York City time, on June 4, 2024, unless extended.
  • Holders of Notes subject to the Tender Offer who validly tender their Notes after the Early Tender Deadline and before the Expiration Date and whose Notes are accepted for purchase will receive the applicable Late Tender Offer Consideration.
  • The Late Tender Offer Consideration for the Notes purchased pursuant to the Tender Offer will be calculated by taking the Total Tender Offer Consideration for the Notes and subtracting from it the Early Tender Premium of $50 per $1,000 principal amount of Notes.

CI Financial Corp. Announces Private Offering of U.S. Dollar Notes

Retrieved on: 
Tuesday, May 21, 2024
Asset Management, Professional Services, Finance, Offering, Retirement, Sale, Person, Regulation, Note, Tender offer, CIX, TSX

CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) today announced that it intends, subject to market and other conditions, to offer and sell (the “Offering”) in a private placement to eligible purchasers a series of its senior unsecured U.S.-dollar-denominated notes (the “Notes”).

Key Points: 
  • CI Financial Corp. (“CI” or the “Company”) (TSX: CIX) today announced that it intends, subject to market and other conditions, to offer and sell (the “Offering”) in a private placement to eligible purchasers a series of its senior unsecured U.S.-dollar-denominated notes (the “Notes”).
  • Concurrently with the Offering, CI commenced a tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding 4.100% Notes due 2051 (the “2051 Notes”).
  • The Tender Offer is being made only by and pursuant to the terms of the related Offer to Purchase.
  • This press release does not constitute an offer to purchase or the solicitation of an offer to sell any 2051 Notes in the Tender Offer.

CI Financial Reports Financial Results for the First Quarter of 2024

Retrieved on: 
Friday, May 10, 2024
Finance, Consulting, Banking, Professional Services, Asset Management, CIPC, EDT, AI, Armand Assante, TSX

First quarter net loss attributable to shareholders was $154.4 million compared to a net loss of $63.5 million in the fourth quarter of 2023.

Key Points: 
  • First quarter net loss attributable to shareholders was $154.4 million compared to a net loss of $63.5 million in the fourth quarter of 2023.
  • Excluding non-operating items, adjusted net income attributable to shareholders1 was $132.8 million in the first quarter, up 3.6% from the previous quarter.
  • First quarter total net revenues were $645.7 million, down 9.8% from $715.6 million in the fourth quarter of 2023.
  • In February 2024, CI commenced a substantial issuer bid, which expired on April 2, 2024.

CI Financial Announces Quarterly Dividend

Retrieved on: 
Thursday, May 9, 2024
Asset Management, Professional Services, Finance, CIX, TSX

CI Financial Corp. (“CI”) (TSX: CIX) announced today that its Board of Directors has declared a regular quarterly dividend of $0.20 per share of CI’s common stock. The dividend will be payable on October 15, 2024 to shareholders of record as of September 30, 2024.

Key Points: 

CI Financial Corp. (“CI”) (TSX: CIX) announced today that its Board of Directors has declared a regular quarterly dividend of $0.20 per share of CI’s common stock. The dividend will be payable on October 15, 2024 to shareholders of record as of September 30, 2024.