Sun Life completes second sustainability bond offering
Torys acted as counsel to Sun Life with a team that included Rima Ramchandani and Brianna Pioli (corporate/securities).
On July 4, 2023, Sun Life Financial Inc. ("Sun Life") announced the successful completion of its public offering in Canada of C$500 million principal amount of Series 2023-1 subordinated unsecured 5.50% fixed/floating debentures due 2035. An amount equivalent to the net proceeds from the offering of the debentures will be used to finance or refinance, in whole or in part, new and/or existing green or social assets that meet the eligibility criteria set out under Sun Life’s Sustainability Bond Framework.
The debentures were sold under a pricing supplement dated June 27, 2023, issued pursuant to Sun Life’s short form base shelf prospectus and its prospectus supplement each dated March 24, 2023.
Further information can be found on Canada Newswire’s website.
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional clients. It 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.