Sun Life Finl Stock Price, News & Analysis

On October 1, 2020, Sun Life Financial Inc. (TSX: SLF) successfully completed a public offering of $750 million in Series 2020-2 Subordinated Unsecured 2.06% Fixed/Floating Debentures due 2035. The net proceeds from this offering will be allocated for general corporate purposes, such as subsidiary investments and debt repayment. Notably, these debentures are not registered under the U.S. Securities Act and cannot be offered to U.S. persons. As of June 30, 2020, Sun Life reported total assets under management of $1,122 billion.

Sun Life Financial Inc. (TSX: SLF) announced the issuance of $750 million in Series 2020-2 Subordinated Unsecured 2.06% Fixed/Floating Debentures due 2035, with closing expected on October 1, 2020. The net proceeds will support general corporate purposes, including subsidiary investments and debt repayment. The offering will be managed by RBC Capital Markets, CIBC Capital Markets, and Scotiabank. The debentures qualify as Tier 2 capital and are not registered under U.S. securities law, limiting their sale within the U.S.

Sun Life U.S. and MGIS Companies, Inc. have announced a ten-year extension of their partnership, originally established in 2006. This deal allows Sun Life to remain the exclusive provider of group disability and life insurance for MGIS's healthcare professional clients. The partnership will enhance product offerings, including the unique MGIS IncomeProtect® program, tailored for healthcare professionals. This collaboration aims to support a growing base of healthcare professionals by addressing their complex income replacement needs.

Sun Life Financial Inc. (TSX: SLF), on September 25, 2020, announced the successful redemption of all outstanding Series 2015-1 Subordinated Unsecured 2.60% Fixed/Floating Debentures, totaling $500 million. This move reflects the company's strategy in managing its capital structure. Sun Life operates internationally, with significant assets under management amounting to $1,122 billion as of June 30, 2020. The redemption enhances financial flexibility for the firm, indicating a positive step in its overall fiscal management.

Sun Life U.S. has partnered with the NAACP Legal Defense Fund and More Than a Vote for the "We Got Next" campaign, focusing on promoting voter education and recruiting poll workers in Black communities. In support of racial justice, the company is also backing the Smithsonian's "Talking About Race" portal, providing resources for racial equality. A diverse internal task force, Allies Acting for Change, has been created to enhance inclusive hiring and support Black professionals. Sun Life continues to prioritize equality through active community engagement and internal initiatives.

Sun Life and the Boston Celtics transitioned their annual Fit to Win youth fitness program to a virtual format due to the pandemic. This program, aimed at YMCA youth in Greater Boston, Hartford, and Southern Maine, promotes health and fitness. Participants engaged in online workouts led by Celtics coaches and discussed wellness topics. The finale included a virtual dunk show by Lucky the Leprechaun. Despite missing the live event, the initiative successfully reached more children and families, demonstrating adaptability in promoting youth wellness.