TORONTO, Feb. 16, 2016 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE:
SLF) ("Sun Life") announced today that it intends to issue in Canada up
to $350 million principal amount of Series 2016-1 Subordinated
Unsecured 3.10% Fixed/Floating Debentures due 2026 (the "Debentures").
The offering is expected to close on February 19, 2016. The net
proceeds will be used to partially fund the previously announced
acquisition of the employee benefits business of Assurant, Inc. and may
also be used for general corporate purposes, which may include
investments in subsidiaries.
Details of the offering will be set out in a pricing supplement that Sun
Life intends to issue pursuant to its short form base shelf prospectus
and its prospectus supplement, each dated April 8, 2015, 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 BMO Capital Markets and RBC Capital Markets, as
co-leads. The proceeds from this offering are expected to qualify for
Tier 2B 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.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
products and services to individuals and corporate customers. Sun Life
Financial 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 December 31, 2015, the Sun Life
Financial group of companies had total assets under management of $891
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.
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