Great-West Lifeco Announces Pricing of €500 Million Euro Senior Fixed Rate Notes



WINNIPEG, MB, November 9, 2022 /CNW/ – Great-West Lifeco Inc. today announced the pricing of €500 million fixed rate senior euro bonds. This is Great-West Lifeco’s third debt issue in the euro market.

The €500 million 7-year bonds are denominated in euros and will pay an annual coupon of 4.700%, at par. The bonds are expected to be rated A+ by S&P Global Ratings (acting through Standard & Poor’s Financial Services LLC) and A by Fitch Ratings, Inc. Application will be made for the bonds to be listed on the Global Exchange Market of Euronext Dublin. The transaction should be concluded towards or towards November 16, 2022. The net proceeds of the transaction will be used for general corporate purposes.

The offer was made through Barclays Bank PLC, BNP Paribas and JP Morgan Securities plc as Active Joint Bookrunners on behalf of a syndicate of managers.

About Great-West Lifeco Inc.
Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance. We operate in Canada, United States and Europe under the Canada Life, Empower, Putnam Investments and Irish life. At the end of 2021, our businesses had approximately 28,000 employees, 215,000 advisor relationships and thousands of channel partners, all serving more than 33 million customer relationships in these regions. Great-West Lifeco is listed on the Toronto Stock Exchange (TSX) under the symbol GWO and is a member of the Power Corporation group of companies. To learn more, visit

Caution Regarding Forward-Looking Information
This press release contains forward-looking information. Forward-looking information includes statements that are predictive in nature, depend on or refer to future events or conditions, or include words such as “will”, “may”, “expect”, “anticipate”, ” intends’, ‘plans’, ‘believes’, ‘estimates’, ‘goal’, ‘target’, ‘potential’ and other similar expressions or their negative versions. These statements include, but are not limited to, statements about the expected closing of the Bond Offering, the issuance of the Bonds and the intended use of proceeds from the Bond Offering.

Forward-looking statements are based on expectations, forecasts, estimates, predictions, projections and conclusions about future events that were current at the time of the statements and are inherently subject to, among other things, risks, uncertainties and assumptions about Great-West Lifeco, economic factors and the financial services industry generally, including the insurance, mutual fund and retirement solutions industries. They are not guarantees of future performance, and readers are cautioned that actual events and results could differ materially from those expressed or implied by the forward-looking statements. Many of these assumptions are based on factors and events beyond Great-West Lifeco’s control and there can be no assurance that they will prove to be correct. Whether or not actual results differ from the forward-looking information may depend on numerous factors, developments and assumptions. These assumptions and factors are discussed in Great-West Lifeco’s filings with securities regulators, including, but not limited to, the factors set forth under “Risk Factors” in the Company’s Annual Information Form. Great-West Lifeco dated February 9, 2022and under “Risk management and control practices” and “Summary of Critical Accounting Estimates” in Great-West Lifeco’s MD&A for the twelve months ended December 31, 2021which, along with other repositories, can be viewed at Readers are also cautioned to carefully consider these and other factors, uncertainties and potential events and not to place undue reliance on any forward-looking information. Except as expressly required by applicable law, Great-West Lifeco does not intend to update forward-looking information, whether as a result of new information, future events or otherwise.


This advertisement is intended only for persons of the UK have professional experience in matters relating to investments which fall within the definition of “investment professionals” in section 19(5) of the Financial Services and Markets (Financial Promotion) Order 2005 and to persons to whom it may otherwise lawfully be distributed.

No PRIIPs or UK PRIIPs key information document (KID) has been prepared as it is not available to retail investors in the European Economic Area or the UK.

The Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in United States lack of registration or an applicable exemption from the registration requirements of the Securities Act. This press release does not constitute or form part of an offer or invitation to sell or the solicitation of an offer to buy or subscribe, and there will be no sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Bonds may not be distributed to the public under the securities laws of any province or territory of Canada and may not be offered or sold in Canadadirectly or indirectly, other than pursuant to the exemptions applicable to private placements.

SOURCE Great-West Lifeco Inc.


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