Sun Life FinancialInc. said April 4 that it intends to redeem all of the outstanding C$950million principal amount of series B senior unsecured 4.95% fixed/floating debenturesin accordance with the redemption terms attached to the debentures.
The debentures are redeemable at Sun Life Financial's optionon June 1 at a redemption price per debenture equal to the principal amount togetherwith accrued and unpaid interest to the redemption date. After the redemption ofthe debentures, interest will cease to accrue from and after the redemption date,and holders will not be entitled to exercise any rights as holders other than toreceive the redemption price.
The redemption will have no impact on the Minimum ContinuingCapital and Surplus Requirements ratio of Sun Life Financial or as seniordebentures do not qualify as available capital under such requirements.