Transaction|August 13, 2019

Sun Life completes C$750 million sustainability bond offering

Torys acted as counsel to Sun Life Financial with a team that included Rima Ramchandani, Matthew Lui and Riley Harmon (corporate/securities).

On August 13, 2019, Sun Life Financial Inc. ("Sun Life") completed its previously announced public offering of C$750 million principal amount of series 2019-1 subordinated unsecured 2.38% fixed/floating debentures due 2029.

The debentures represent Sun Life's inaugural sustainability bond in Canada and marks the first issuance of a sustainability bond by a life insurance company globally.

The debentures were sold on a best efforts agency basis by a syndicate led by RBC Capital Markets, CIBC Capital Markets and HSBC Securities (Canada) Inc., as co-leads.

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.

Further information can be found on Sun Life's website.

Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate clients.