Sun Life arranges $1-billion debenture offering

Executive Summary

• Sun Life Financial Inc. intends to issue $1 billion in principal amount of Series 2025-1 subordinated unsecured debentures in Canada.
• The debentures carry a fixed/floating interest rate of 4.14% and mature in 2037.
• Net proceeds are designated for general corporate purposes, including potential acquisitions of remaining interests in SLC Management affiliates (BentallGreenOak and Crescent Capital Group LP), subsidiary investments, debt repayment, and other strategic investments.

Key Details

• Instrument: Series 2025-1 subordinated unsecured 4.14% fixed/floating debentures due 2037.
• Principal Amount: $1 billion CAD.
• Closing Date: Expected to close on September 11, 2025.
• Use of Proceeds: General corporate purposes, specifically noting support for the acquisition of remaining interests in SLC Management affiliates BentallGreenOak and Crescent Capital Group LP, investments in subsidiaries, repayment of indebtedness, and other strategic investments.
• Capital Classification: Proceeds are expected to qualify for Tier 2 capital.
• Underwriters: Sold on a reasonable best effort agency basis by a syndicate led by RBC Capital Markets, CIBC Capital Markets, and TD Securities as co-leads.
• Documentation: Details set out in a pricing supplement pursuant to the Short Form Base Shelf Prospectus and Prospectus Supplement, both dated March 17, 2025.