The kickers are major contributors to the CERN SPS beam coupling impedance. As such, they may represent a limitation to increasing the SPS bunch current in the frame of a luminosity upgrade of the LHC. The C-Magnet supports a transverse electromagnetic (TEM) mode due to the presence of two conductors. Due to the finite length of the structure this TEM mode affects the impedance below a certain frequency (when the penetration depth in the ferrite becomes comparable to the magnetic circuit length). A theoretical model was developed to take into account also the impedance contribution due to the TEM mode. The model is found to be in good agreement with CST 3D electromagnetic (EM) simulations. It allows for generic terminations in the longitudinal direction. An example of kicker is analyzed taking into account also the external cables.