Sun Life completes offering of Subordinated Unsecured Debentures
On October 1, 2020, Sun Life Financial Inc. (TSX: SLF) successfully completed a public offering of $750 million in Series 2020-2 Subordinated Unsecured 2.06% Fixed/Floating Debentures due 2035. The net proceeds from this offering will be allocated for general corporate purposes, such as subsidiary investments and debt repayment. Notably, these debentures are not registered under the U.S. Securities Act and cannot be offered to U.S. persons. As of June 30, 2020, Sun Life reported total assets under management of $1,122 billion.
- Successfully raised $750 million through subordinated unsecured debentures, enhancing corporate financial flexibility.
- Debt repayment may reduce interest burden, improving overall financial health.
- None.
TORONTO, Oct. 1, 2020 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the "Company") announced today the successful completion of the public offering in Canada of
The Debentures were sold under a pricing supplement dated September 29, 2020, issued pursuant to its short form base shelf prospectus and its prospectus supplement, each dated March 28, 2019, all of which are available on the SEDAR website for the Company at www.sedar.com.
The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered, sold or delivered, directly or indirectly, within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
About Sun Life
Sun Life is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2020, Sun Life had total assets under management of
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars
Media Relations Contact: | Investor Relations Contact: |
Irene Poon | Leigh Chalmers |
Manager Corporate Communications | Senior Vice-President, Head of Investor Relations & Capital |
Sun Life | Sun Life |
t. 416-988-0542 | t. 647-256-8201 |
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SOURCE Sun Life Financial Inc.
FAQ
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