PrefBlog

Hard on the heels of their 1Q09 Results, Sun Life Financial has brought out a new issue.

Issue: Class A Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 6R

Size: 8-million shares (=$200-million) + 2-million greenshoe (=$50-million)

Dividend: $1.50 (=6.00%) until first Reset Date; GOC 5-Year + 379bp thereafter. First dividend $0.54658 payable Sept 30 – nice and fat, so mark your calendars!

Exchangeable: Every Reset Date into Series 7QR (sic), pays 3-month bills +379, reset quarterly

Redemption: Every Reset Date at $25.00. Series 7QR every reset date at 25.00, 25.50 at all other times.

Reset Date: 2014-6-30 and every five years thereafter.

Closing: 2009-5-20

Update: Press Release

This entry was posted on Friday, May 8th, 2009 at 11:39 am and is filed under New Issues. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.