TORONTO, Aug. 10, 2020 /PRNewswire/ - Sun Life Financial
Inc. (TSX: SLF) (NYSE: SLF) ("Sun Life") today announced its
intention to redeem all of the outstanding $500 million principal amount of Series 2015-1
Subordinated Unsecured 2.60% Fixed/Floating Debentures (the
"Debentures") in accordance with the redemption terms attached to
the Debentures. The redemption will be funded from existing cash
and liquid assets.
The Debentures are redeemable at Sun Life's option on or after
September 25, 2020 at a redemption
price per Debenture equal to the principal amount together with
accrued and unpaid interest to the date of redemption. Sun Life
intends to redeem the Debentures on September 25, 2020 (the "Redemption Date").
Notice will be delivered to the holders of the Debentures in
accordance with the terms outlined in the trust indenture governing
the Debentures.
After the Debentures are redeemed, interest will cease to accrue
from and after the Redemption Date and holders of Debentures will
not be entitled to exercise any rights as holders other than to
receive the redemption price.
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 June 30, 2020, Sun Life had total assets under
management of $1,122 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
Forward-Looking Statements
In this forward-looking information section, "we", "our" and
"us" refer to Sun Life and its subsidiaries and joint
ventures. Certain statements in this news release are
forward-looking, including, but not limited to, statements (i)
relating to our anticipated redemption of the Debentures, (ii) that
are not historical or that are predictive in nature or that
depend upon or refer to future events or conditions, and (iii) that
include words such as "will", and similar expressions. All
such forward-looking statements are made pursuant to the "safe
harbour provisions" of applicable Canadian securities laws and of
the United States Private Securities Litigation Reform Act of
1995. The forward-looking statements in this news release
represent our current expectations, estimates and projections
regarding future events as of the time of this news release and are
not historical facts. These forward-looking statements are
not a guarantee of future performance and involve risks and
uncertainties and are based on key factors and assumptions that are
difficult to predict, including the assumption that the transaction
will be completed. Except as may be required by applicable Canadian
securities laws, we do not undertake any obligation to update or
revise any forward-looking statements contained in this news
release. Readers are cautioned that undue reliance should not
be placed on these forward-looking statements. Information
about risk factors relating to us can be found in the annual
information form of Sun Life for the year ended December 31, 2019 under the heading "Risk
Factors" and other regulatory filings filed with or furnished to
Canadian and U.S. securities regulators available at www.sedar.com
and www.sec.gov, respectively.
Media Relations
Contact:
|
Investor Relations
Contact:
|
Irene Poon
|
Leigh
Chalmers
|
Manager
|
Senior
Vice-President, Head of Investor Relations
|
Corporate
Communications
|
Relations &
Capital Management
|
T.
416-988-0542
|
T.
647-256-8201
|
irene.poon@sunlife.com
|
investor_relations@sunlife.com
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/sun-life-announces-intention-to-redeem-series-2015-1-subordinated-unsecured-2-60-fixedfloating-debentures-301109347.html
SOURCE Sun Life Financial Inc.