Sun Life Financial Inc. has announced the results of its conversion privilege for Class A Non-cumulative Rate Reset Preferred Shares Series 8R and Class A Non-cumulative Floating Rate Preferred Shares Series 9QR. The company reported that 1,400 of its 6,217,331 Series 8R Shares have been converted into Series 9QR Shares on a one-for-one basis as of June 30, 2025. Additionally, 2,664,916 of its 4,982,669 Series 9QR Shares have been converted into Series 8R Shares.
Following these conversions, Sun Life will have a total of 8,880,847 Series 8R Shares and 2,319,153 Series 9QR Shares issued and outstanding. These shares are listed on the Toronto Stock Exchange under the symbols SLF.PR.G for the Series 8R and SLF.PR.J for the Series 9QR.
Subject to regulatory approval, Sun Life may choose to redeem any part or all of the outstanding shares at a price of $25.00 per share plus any declared and unpaid dividends on specific dates starting June 30, 2030. For redemptions on other dates for the Series 9QR Shares specifically, a price of $25.50 per share applies.
The securities involved in this announcement are not registered under the United States Securities Act of 1933 and cannot be offered or sold in the U.S., with certain exceptions.
Sun Life is an international financial services organization offering asset management along with wealth insurance and health solutions globally across multiple markets including Canada and others such as Hong Kong and Singapore. As of March-end this year (2025), Sun Life managed assets totaling $1.55 trillion CAD.
The company's stocks are traded on several exchanges: Toronto (TSX), New York (NYSE), and Philippine (PSE) under "SLF."
Note to editors: All figures in Canadian dollars