Great West announces pricing of €500 million senior fixed rate euro bonds

Great West announces pricing of €500 million senior fixed rate euro bonds

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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.

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 the Company, economic factors and the financial services industry generally, including the insurance, wealth and retirement solutions industries. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance that they will prove to be correct. Whether or not actual results differ from forward-looking information may depend on numerous factors, developments and assumptions. These assumptions and factors are discussed in Great West's filings with securities regulators, including but not limited to factors set out under "Risk Factors" in Great West's annual information form dated February 11, 2026, and under "Risk Management" and "Summary of Critical Accounting Estimates" in Great West's management's discussion and analysis for the twelve months ended December 31, 2025, which, along with other filings, are available for review at www.sedarplus.com. The reader is also cautioned to consider these and other factors, uncertainties and potential events carefully and not to place undue reliance on forward-looking information. Other than as specifically required by applicable law, Great West does not intend to update any forward-looking information whether as a result of new information, future events or otherwise.

Disclaimer

This announcement does not constitute an offer of any securities to the public in the United Kingdom and is directed only at persons in the United Kingdom having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and to those persons to whom it can otherwise lawfully be distributed.

No EEA PRIIPs key information document (KID)/CCI product summary has been prepared as not available to retail investors in the European Economic Area or the United Kingdom.

The bonds have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States absent registration or an application exemption from the registration requirements. This news release does not constitute an offer or invitation to sell or a solicitation of an offer or invitation to buy or subscribe, nor shall there be any sale of, such securities in any jurisdiction in which such offer, invitation, solicitation or sale would be unlawful.

The Bonds will not be qualified for distribution to the public under the securities laws of any province or territory of Canada and may not be offered or sold in Canada, directly or indirectly, other than pursuant to applicable private placement exemptions.

A credit rating for a security is not a recommendation to buy, sell or hold securities, does not address the likelihood or timing of repayment and may be subject to revision or withdrawal at any time by the assigning rating organisation. Similar ratings for different types of issuers and on different types of securities do not necessarily mean the same thing. The significance of each rating should be analysed independently from any other rating.

SOURCE Great-West Lifeco Inc.