TSX:GWO
Not for distribution to U.S. news wire services or dissemination in the
United States.
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 unlawful.
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
204-946-7705
Copyright CNW Group 2014