TORONTO, Sept. 26, 2022 /PRNewswire/ – Sun Life Financial Inc. (TSX:SLF) (NYSE:SLF) today announced its intention to redeem all of the outstanding $400 million principal amount of Series 2017-1 Subordinated Unsecured 2.75% 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 November 23, 2022 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 November 23, 2022 (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 asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number …