Sagicor Financial Company Ltd Announces Expiration of Debt Tender Offer

January 23, 2020
Barbados and Toronto, January 23, 2020 – Sagicor Financial Company Ltd. (TSX: SFC) today announced  the expiration of the offer by its subsidiary Sagicor Finance (2015) Limited to repurchase all or any part of its US$320,000,000 aggregate principal amount of 8.875% Senior Notes due 2022 at 101% of the principal amount of the repurchased Notes, plus accrued and unpaid interest, if any, as required by the terms of the Notes. The offer expired on January 22, 2020, and tenders from the holders of US$1,897,000, or approximately 0.59% of the total outstanding principal amount of the Notes, were received. 

The offer was made due to the recently completed business combination between Sagicor Financial Corporation Limited with SFC (formerly known as Alignvest Acquisition II Corporation), which was completed on December 5, 2019.