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TSX:GWO
WINNIPEG, MB, June 30, 2026 /CNW/ - Great-West Lifeco Inc. ("Great West" or the "Company") announced today the pricing of €500 million senior fixed rate euro bonds. This is the Company's fourth debt issuance in the euro market.
The €500 million, 7-year bonds are denominated in euros and will pay an annual coupon of 3.625%, priced at 99.575% of par to yield 3.695%. The bonds are expected to be rated A+ by S&P Global Ratings (acting through S&P Global Ratings Canada, a business unit of S&P Global Canada Corp.) and A by Fitch Ratings, Inc. An application will be made for the bonds to be listed on the Global Exchange Market of the Irish Stock Exchange plc, trading as Euronext Dublin. The transaction is expected to close on or about July 7, 2026. Net proceeds of the transaction will be used for general corporate purposes, which may include repayment of the Company's outstanding €500 million 1.750% euro bonds maturing in December 2026.
The offering was made through Barclays Bank PLC, Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc and Merrill Lynch International as Active Joint Bookrunners on behalf of a syndicate of managers.
ABOUT GREAT WEST
Great West is a financial services holding company focused on building stronger, more financially secure futures. We operate in the United States, Canada, and Europe under the brands Empower, Canada Life and Irish Life. Together we provide wealth, retirement, group benefits and insurance and risk solutions to our approximately 40 million customer relationships. As of March 31, 2026, Great West's total client assets were $3.3 trillion. Great West trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation group of companies. To learn more, visit greatwestlifeco.com.
Cautionary note regarding Forward-Looking Information
From time to time, Great West makes written and/or oral forward-looking statements within the meaning of applicable securities laws, including in this release. Forward-looking information includes statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "achieve", "ambition", "anticipate", "believe", "could", "estimate", "expect", "initiatives", "intend", "may", "objective", "opportunity", "plan", "potential", "project", "target", "will" and other similar expressions or negative versions of those words. These statements include, without limitation, statements about the expected closing of the offering of the bonds, the issuance of the bonds, and the intended use of proceeds from the offering of the bonds.