TORONTO, May 6, 2020 /PRNewswire/ - Sun Life
Financial Inc. (TSX: SLF) (NYSE: SLF) (the "Company") announced
today that it intends to issue in Canada $1
billion principal amount of Series 2020-1 Subordinated
Unsecured 2.58% Fixed/Floating Debentures due 2032 (the
"Debentures"). The offering is expected to close on May 8, 2020. The net proceeds will be used for
general corporate purposes of the Company, which may include
investments in subsidiaries and repayment of indebtedness.
Details of the offering will be set out in a pricing supplement
that the Company intends to issue pursuant to its short form base
shelf prospectus and its prospectus supplement, each dated
March 28, 2019, all of which are or
will be available on the SEDAR website for Sun Life Financial Inc.
at www.sedar.com. The Debentures will be sold on a best
efforts agency basis by a syndicate led by RBC Capital Markets, BMO
Capital Markets and TD Securities, as co-leads. The proceeds from
this offering are expected to qualify for Tier 2 capital.
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.
From time to time, the
Company makes written or oral forward-looking statements within the
meaning of certain securities laws, including the "safe harbour"
provisions of the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities legislation.
Forward-looking statements contained in this news release include
statements (i) regarding the closing and use of proceeds of the
offering; (ii) that are predictive in nature or that depend upon or
refer to future events or conditions; and (iii) that include words
such as "intends", "expects", "will" and similar expressions. The
forward-looking statements in this news release are stated as at
May 6, 2020, represent the
Company's current expectations, estimates and projections regarding
future events and are not historical facts. These statements are
not a guarantee of future performance and involve assumptions and
risks and uncertainties that are difficult to predict. Some of
these assumptions and risks and uncertainties are described further
in the Company's management's discussion and analysis for the year
ended December 31, 2019 under the
heading "Forward-looking Statements", in the risk factors set out
in the Company's annual information form for the year ended
December 31, 2019 under the heading
"Risk Factors" and in the Company's interim management's discussion
and analysis for the quarter ended March 31,
2020 under the heading "Risk Management", in the other
factors detailed in the Company's annual and interim financial
statements and in the Company's other filings with Canadian and
U.S. securities regulators, which are available for review at
www.sedar.com and www.sec.gov, respectively. Actual results may
differ materially from those expressed, implied or forecasted in
such forward-looking statements.
The Company does not undertake any obligation to update or
revise its forward-looking statements to reflect events or
circumstances after the date of this news release or to reflect the
occurrence of unanticipated events, except as required by law.
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 March 31, 2020, Sun Life
had total assets under management of $1,023
billion. For more information please visit
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
Vice-President, Head of Investor
Relations & Capital Management
View original content to download
SOURCE Sun Life Financial Inc.