Sun Life completes offering of subordinated unsecured debentures
Torys acted as counsel to Sun Life with a team that included Rima Ramchandani, Brett Saulnier and Brianna Pioli (corporate/securities).
On November 18, 2021, Sun Life Financial Inc. (“Sun Life”) announced the completion of the public offering in Canada of C$500 million principal amount of Series 2021-1 subordinated unsecured 2.46% fixed/floating debentures due 2031, C$1 billion principal amount of Series 2021-2 subordinated unsecured 2.80% fixed/floating debentures due 2033 and C$500 million principal amount of Series 2021-3 subordinated unsecured 3.15% fixed/floating debentures due 2036 for an aggregate principal amount of C$2 billion.
The net proceeds will be used for general corporate purposes of Sun Life, which may include funding a portion of the purchase price for the previously announced acquisition of DentaQuest Group, Inc., investments in subsidiaries, repayment of indebtedness and other strategic investments.
Further information can be found on Canada Newswire’s website.
Sun Life is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individual and corporate Clients.