Sun Life Financial Inc. announced plans to issue $1 billion in Series 2025-1 Subordinated Unsecured 4.14% Fixed/Floating Debentures due 2037 in Canada. The company expects the offering to close on September 11, 2025. Sun Life said net proceeds from the sale will be used for general corporate purposes, which may include supporting the acquisition of its remaining interests in SLC Management affiliates BentallGreenOak and Crescent Capital Group LP, investments in subsidiaries, repayment of debt, and other strategic investments.
The details of the offering will be included in a pricing supplement that Sun Life intends to issue under its short form base shelf prospectus and prospectus supplement dated March 17, 2025. These documents are or will be available through Sun Life’s SEDAR+ profile at www.sedarplus.ca. The debentures will be sold on a reasonable best efforts agency basis by a syndicate led by RBC Capital Markets, CIBC Capital Markets, and TD Securities as co-leads. Proceeds from this offering are expected to qualify as Tier 2 capital.
The debentures have not been registered under the United States Securities Act of 1933 and cannot be offered or sold within the United States or to U.S. persons.
"Forward-looking statements contained in this news release include statements (i) regarding the offering, including the closing and use of proceeds of the offering; (ii) that are predictive in nature or that depend upon or refer to future events or conditions; and (iii) that include words such as 'intends', 'expects', 'will' and similar expressions. The forward-looking statements in this news release are stated as at September 9, 2025, represent the Company's current expectations, estimates and projections regarding future events and are not historical facts. These statements are not a guarantee of future performance and involve assumptions and risks and uncertainties that are difficult to predict. Some of these assumptions and risks and uncertainties are described further in the Company's management's discussion and analysis for the year ended December 31, 2024 under the heading 'Forward-looking Statements', in the risk factors set out in the Company's annual information form for the year ended December 31, 2024 under the heading 'Risk Factors' and in the Company's interim management's discussion and analysis for the quarter ended June 30, 2025 under the heading 'Risk Management', in the other factors detailed in the Company's annual and interim financial statements and in the Company's other filings with Canadian and U.S. securities regulators, which are available for review at www.sedarplus.ca and www.sec.gov, respectively. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking statements."
"The Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law."
Sun Life operates internationally across multiple markets including Canada, United States, United Kingdom, Ireland, Hong Kong, Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2025 it reported $1.54 trillion in assets under management.
Shares of Sun Life Financial Inc. trade on stock exchanges including Toronto (TSX), New York (NYSE), and Philippine (PSE) under ticker symbol SLF.
All figures are reported in Canadian dollars.