The Canadian Press

CI Financial Corp. (TSX:CIX), one of Canada’s largest wealth-management and mutual fund companies, has signed a deal to issue $550 million in debt securities for the first time.

The company said Friday the offering includes $100 million in two-year floating rate debentures due Dec. 16, 2011; $250 million in three-year 3.3% debentures; and $200 million in five-year 4.19% debentures.

The company said it will use the proceeds of the offering to repay amounts owing under its credit facility and for general corporate purposes.

The debentures have been rated BBB high by Standard and Poor’s and A low by DBRS.

The offering is scheduled to close Dec. 16.

Shares in CI, which announced the financing after the close of markets, were down 11 cents at $20.39 on Friday on the Toronto Stock Exchange.