Sun Life redeems Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures

Rhea-AI Summary

Sun Life Financial Inc. (TSX: SLF) announced the successful redemption of its Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures totaling $400 million. This strategic financial move is aimed at optimizing the company's capital structure. As of September 30, 2022, Sun Life reported total assets under management of $1.27 trillion, showcasing its significant presence in the financial services sector across multiple countries.

Positive

• Successful redemption of $400 million in Series 2017-1 debentures.
• Strengthens capital structure and financial standing.

Negative

• None.

TORONTO, Nov. 23, 2022 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today that it completed the redemption of all of its outstanding $400 million principal amount of Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional 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 September 30, 2022, Sun Life had total assets under management of $1.27 trillion. 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

Sun Life Media and Investor Relations contacts:

Rajani Kamath	Yaniv Bitton
Associate Vice-President	Vice-President, Head of Investor
Corporate Communications	Relations & Capital Markets
647-515-7514	416-979-6496
Rajani.Kamath@sunlife.com	Yaniv.Bitton@sunlife.com

 

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SOURCE Sun Life Financial Inc.

FAQ

What is the recent financial move by Sun Life (SLF)?

Sun Life Financial recently redeemed $400 million of its Series 2017-1 Subordinated Unsecured 2.75% Fixed/Floating Debentures.

How much did Sun Life redeem in debentures?

Sun Life redeemed a total of $400 million in debentures.

What are the total assets under management for Sun Life (SLF)?

As of September 30, 2022, Sun Life had total assets under management of $1.27 trillion.

On what date did Sun Life complete the debenture redemption?

The redemption of the debentures was completed on November 23, 2022.