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 Financial Inc.
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.