Sun Life announces offering of Subordinated Unsecured Debentures

Executive Summary

• Sun Life Financial Inc. announced a $1 billion CAD issuance of Series 2025‑2 Subordinated Unsecured 4.56% Fixed/Floating Debentures due 2040.
• The offering is expected to close on December 3, 2025, with net proceeds earmarked for general corporate purposes, including potential acquisitions of remaining interests in BentallGreenOak and Crescent Capital Group LP, subsidiary investments, debt repayment, and other strategic initiatives.
• Proceeds are anticipated to qualify as Tier 2 capital, enhancing the company’s regulatory capital position.

Key Details

• Offering Size: $1 billion CAD principal amount.
• Security Type: Series 2025‑2 Subordinated Unsecured Debentures, 4.56% Fixed/Floating rate, due 2040.
• Closing Date: Expected on December 3, 2025.
• Use of Proceeds: General corporate purposes – may include:
• Supporting acquisition of Sun Life’s remaining interests in BentallGreenOak and Crescent Capital Group LP (SLC Management affiliates).
• Investments in subsidiaries.
• Repayment of indebtedness.
• Other strategic investments.
• Distribution Method: Sold on a reasonable best‑efforts basis by a syndicate led by RBC Capital Markets, BMO Capital Markets, and Scotiabank (co‑leads).
• Regulatory Treatment: Proceeds expected to qualify for Tier 2 capital under regulatory guidelines.
• Prospectus References: Offering details will be set out in a pricing supplement pursuant to Sun Life’s short‑form base shelf prospectus and a prospectus supplement dated March 17, 2025 (available on SEDAR+).
• U.S. Offering Restrictions: Debentures are not registered under the U.S. Securities Act of 1933 and may not be offered or sold to U.S. persons.

Notable Quotes

(No executive quotes were included in the release.)