/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
TORONTO, Aug. 8, 2022
/CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the
"Company") announced today that it intends to issue in Canada $650
million principal amount of Series 2022-1 Subordinated
Unsecured 4.78% Fixed/Floating Debentures due 2034 (the
"Debentures"). The offering is expected to close on August 10, 2022. The net proceeds will be used
for general corporate purposes of the Company, which may include
investments in subsidiaries, repayment of indebtedness and other
strategic investments.
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 19, 2021, 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.
Forward-Looking Statements
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
August 8, 2022, 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, 2021 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, 2021 under the heading "Risk
Factors" and in the Company's interim management's discussion and
analysis for the quarter ended June 30,
2022 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 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 June 30,
2022, Sun Life had total assets under management of
$1.26 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
SOURCE Sun Life Financial Inc.