TORONTO and BARBADOS, June 11,
2021 /CNW/ - Sagicor Financial Company Ltd. ("Sagicor"
or the "Company") today announced that its subsidiary, Sagicor
Finance (2015) Limited, has issued a notice of redemption in
respect of its 8.875% Senior Notes due 2022 (the "2022
Notes"). The Company expects that the 2022 Notes will be
redeemed on August 11, 2021 pursuant
to the terms of the note indenture governing the 2022 Notes at an
aggregate redemption price of approximately US$188 million (being 100% of the remaining
principal amount of the 2022 Notes being redeemed plus accrued and
unpaid interest thereon). As previously announced, the
redemption price is expected to be funded from the proceeds of the
Company's previously completed offering of US$400 million of 5.300% Senior Notes due
May 13, 2028. Proceeds from the
new offering were also used to repurchase approximately
US$130 million principal amount of
the 2022 Notes in May 2021.
About Sagicor Financial Company Ltd.
Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial
services provider in the Caribbean, with over 180 years of history, and
has a growing presence as a provider of life insurance products in
the United States. Sagicor offers
a wide range of products and services, including life, health, and
general insurance, banking, pensions, annuities, and real estate.
Sagicor's registered office is located at Clarendon House, 2 Church
Street, Hamilton, HM 11,
Bermuda, with its principal office
located at Cecil F De Caires Building, Wildey, St. Michael, Barbados. Additional
information about Sagicor can be obtained by visiting
www.sagicor.com.
Cautionary Statements
Certain information contained in this news release may
be forward-looking statements within the meaning of Canadian
securities laws. Forward-looking statements are often, but not
always identified by the use of words such as "expect",
"anticipate", "believe", "foresee", "could", "estimate", "goal",
"intend", "plan", "seek", "will", "may", "would" and "should" and
similar expressions or words suggesting future outcomes. This news
release includes forward-looking information and statements. These
forward-looking statements reflect material factors and
expectations and assumptions of Sagicor. Sagicor's estimates,
beliefs and assumptions are inherently subject to uncertainties and
contingencies regarding future events and as such, are subject to
change. Risks and uncertainties not presently known to Sagicor or
that it presently believes are not material could cause actual
results or events to differ materially from those expressed in its
forward-looking statements. Additional information on these and
other factors that could affect events and results are included in
other documents and reports that will be filed by Sagicor with
applicable securities regulatory authorities and may be accessed
through the SEDAR website (www.sedar.com). Readers are cautioned
not to place undue reliance on these forward-looking statements,
which reflect Sagicor's expectations only as of the date of this
document. Sagicor disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
law.
SOURCE Sagicor Financial Company Ltd.