CI Financial Income Fund has announced it will raise $210 million this month by issuing 15 million units on a bought deal basis.
A syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc. have agreed to purchase the units at $14per unit.
The underwriters will also have an over-allotment option to purchase an additional 2.25 million units until the business day following the closing date, which is scheduled for Dec. 30.
The proceeds will be used for general corporate purposes, including enhancing working capital and repaying debt, the company said.
The units will be offered by way of a supplement to CI Financial’s final base shelf prospectus dated Nov. 7, 2008. The closing of the offering is subject to necessary approvals.
IE
CI to raise funds through $210 million bought deal
- By: Megan Harman
- December 17, 2008 December 17, 2008
- 11:50
Megan Harman