TORONTO, April 4, 2016 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE:
SLF) today announced its intention to redeem all of the outstanding
$950 million principal amount of Series B Senior Unsecured 4.95%
Fixed/Floating Debentures (the "Debentures") in accordance with the
redemption terms attached to the Debentures.
The Debentures are redeemable at Sun Life Financial Inc.'s option on
June 1, 2016 (the "Redemption Date") at a redemption price per
Debenture equal to the principal amount together with accrued and
unpaid interest to 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. Under Minimum Continuing Capital and Surplus
Requirements ("MCCSR") of the Superintendent of Financial Institutions,
Canada, senior debentures do not qualify as available capital. As a
result, the redemption of the Debentures will have no impact on the
MCCSR ratio of Sun Life Assurance Company of Canada or Sun Life
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
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.
SOURCE Sun Life Financial Inc.
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