Sun Life announces interest rate reset on Limited Recourse Capital Notes Series
Sun Life announced the interest rate reset for its $1 billion Limited Recourse Capital Notes Series 2021-1, setting the new rate at 5.614% for the five-year period beginning June 30, 2026. The rate was calculated based on the Government of Canada Yield plus a fixed spread of 2.604%, up from the previous rate of 3.60%.
Key figures
- New rate
- 5.614%
- Reset spread
- 2.604%
- Principal amount
- 1000000000
- Assets under management
- $1.58 trillion
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