Subsidiary of Sagicor Financial Company Ltd. Issues Notice of Redemption in respect of 8.875% Senior Notes due 2022

June 11, 2021

Toronto and Barbados (June 11, 2021) – 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.

 

 

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.