Sun Life redeems Series 2016-1 Subordinated Unsecured 3.10% Fixed/Floating Debentures

Rhea-AI Summary

Sun Life Financial Inc. (TSX: SLF) has successfully completed the redemption of its outstanding $350 million principal amount of Series 2016-1 Subordinated Unsecured 3.10% Fixed/Floating Debentures. This move is part of the company's strategy to manage its capital structure efficiently. As of December 31, 2020, Sun Life reported total assets under management of $1,247 billion, highlighting its robust financial position. The company operates in numerous global markets, providing a wide range of financial services.

Positive

• Successful redemption of $350 million of Series 2016-1 debentures enhances capital management.
• Demonstrates strong financial position with total assets under management of $1,247 billion.

Negative

• None.

TORONTO, Feb. 19, 2021 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today that it completed the redemption of all of its outstanding $350 million principal amount of Series 2016-1 Subordinated Unsecured 3.10% Fixed/Floating Debentures.

About Sun Life
Sun Life is a leading international financial services organization providing 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 December 31, 2020, Sun Life had total assets under management of $1,247 billion. For more information please visit www.sunlife.com.

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	Senior Vice-President, Head of Investor
Corporate Communications	Relations & Capital Management
T.  416-988-0542	T. 647-256-8201
irene.poon@sunlife.com	investor_relations@sunlife.com

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SOURCE Sun Life Financial Inc.

FAQ

What is the recent announcement by Sun Life Financial Inc. regarding SLF stock?

Sun Life Financial Inc. announced the completion of the redemption of $350 million of Series 2016-1 Subordinated Unsecured 3.10% Fixed/Floating Debentures.

How much was redeemed in the recent debenture redemption by Sun Life Financial Inc.?

Sun Life Financial Inc. redeemed $350 million in principal amount of its Series 2016-1 debentures.

What does the redemption of debentures mean for SLF investors?

The redemption of debentures indicates effective capital management, potentially enhancing shareholder value.

What are the total assets under management for Sun Life Financial?

As of December 31, 2020, Sun Life Financial had total assets under management of $1,247 billion.