TORONTO and BARBADOS,
Dec. 8, 2021 /CNW/ - Sagicor
Financial Company Ltd. ("Sagicor" or the "Company")
announced today that it proposes an additional offering of
US$150 million of 5.300% Senior Notes
due 2028 (the "Additional Notes"). The Company, and Sagicor
Life Inc. as guarantor, have entered into a note purchase agreement
with J.P. Morgan Securities LLC and RBC Capital Markets, LLC as
representatives of the several initial purchasers party thereto, in
connection with the issuance of the Additional Notes. The offering
of Additional Notes represents a re-opening of the US$400 million of 5.300% Senior Notes Due
May 13, 2028 (the "Initial
Notes"), which closed in May
2021. The Additional Notes will be subject to the same terms
and conditions as the Initial Notes. The Company expects to
settle the Additional Notes offering on or about December 15, 2021, subject to the satisfaction of
the conditions of closing thereto. The Company intends to use all
of the net proceeds from this offering for general corporate
purposes, including, but not limited to supporting the growth in
its U.S. business.
The Additional Notes would only be offered to "qualified
institutional buyers" as defined in Rule 144A under the U.S.
Securities Act of 1933, as amended (the "Act"), or to
non-U.S. persons in "offshore transactions" outside the United States in accordance with
Regulation S thereunder and applicable local securities laws. The
securities have not been and will not be registered under the Act,
any Canadian securities laws, any state securities laws or any
securities laws of any other jurisdiction. The Additional
Notes may not be offered or sold in the
United States or to U.S. persons absent registration or an
applicable exemption from the registration requirements of the
Act. The Additional Notes may be sold in Canada only to purchasers purchasing, or
deemed to be purchasing, as principal that are accredited
investors, as defined in National Instrument 45-106 Prospectus
Exemptions or subsection 73.3(1) of the Securities Act
(Ontario), and are permitted
clients, as defined in National Instrument 31-103 Registration
Requirements, Exemptions and Ongoing Registrant
Obligations.
This press release is for information purposes only and does not
constitute or form part of any offer, invitation to purchase or any
solicitation of any offer to sell, the Additional Notes or any
other securities in Canada,
the United States or any other
country, nor shall it or any part of it, or the fact of its
release, form the basis of, or be relied on or in connection with,
any contract therefor.
About Sagicor Financial Company Ltd.
Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial
services provider in the Caribbean, with over 180 years of history, and
has a growing presence as a provider of life insurance products in
the United States. Sagicor offers
a wide range of products and services, including life, health, and
general insurance, banking, pensions, annuities, and real estate.
Sagicor's registered office is located at Clarendon House, 2 Church
Street, Hamilton, HM 11,
Bermuda, with its principal office
located at Cecil F De Caires Building, Wildey, St. Michael, Barbados. Additional
information about Sagicor can be obtained by visiting
www.sagicor.com.
Cautionary Statements
Certain information contained in this news release may be
forward-looking statements within the meaning of Canadian
securities laws. Forward-looking statements are often, but not
always identified by the use of words such as "expect",
"anticipate", "believe", "foresee", "could", "estimate", "goal",
"intend", "plan", "seek", "will", "may", "would" and "should" and
similar expressions or words suggesting future outcomes. This news
release includes forward-looking information and statements. These
forward-looking statements reflect material factors and
expectations and assumptions of Sagicor. Sagicor's estimates,
beliefs and assumptions are inherently subject to uncertainties and
contingencies regarding future events and as such, are subject to
change. Risks and uncertainties not presently known to Sagicor or
that it presently believes are not material could cause actual
results or events to differ materially from those expressed in its
forward-looking statements. Additional information on these and
other factors that could affect events and results are included in
other documents and reports that will be filed by Sagicor with
applicable securities regulatory authorities and may be accessed
through the SEDAR website (www.sedar.com). Readers are cautioned
not to place undue reliance on these forward-looking statements,
which reflect Sagicor's expectations only as of the date of this
document. Sagicor disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
law.
SOURCE Sagicor Financial Company Ltd.