Great-West Lifeco announces increase in Preferred Shares issue to $200 Million
Not for distribution to U.S. news wire services or dissemination in the United
WINNIPEG, May 13, 2014 /CNW/ - Great-West Lifeco Inc. announced today that due
to strong demand, the underwriters have exercised their option to purchase an
additional 2,000,000 Non-Cumulative First Preferred Shares, Series S (the
"Series S Shares"), which increases the size of the previously announced
bought deal public offering to 8,000,000 Series S Shares for gross proceeds of
$200 million. The Series S Shares will be priced at $25.00 per share and will
carry an annual dividend yield of 5.25%. Closing is expected to occur on or
about May 22, 2014. The issue will be underwritten by a syndicate of
underwriters co-led by BMO Capital Markets and Scotiabank.
The Series S Shares have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be
Great-West Lifeco Inc. (TSX:GWO) is an international financial services
holding company with interests in life insurance, health insurance, retirement
and investment services, asset management and reinsurance businesses.
Great-West Lifeco has operations in Canada, the United States, Europe and Asia
through Great-West Life, London Life, Canada Life, Irish Life, Great-West
Financial and Putnam Investments. Great-West Lifeco and its companies have
$806 billion in consolidated assets under administration and are members of
the Power Financial Corporation group of companies.
*Assets as of March 31, 2014
SOURCE Great-West Lifeco Inc.
Marlene Klassen, APR Assistant Vice-President, Communication Services
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CO: Great-West Lifeco Inc.
-0- May/13/2014 21:05 GMT
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