/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES./
TSX:GWO
WINNIPEG, MB, Oct. 8, 2021 /CNW/ - Great-West Lifeco Inc.
("Lifeco") announced today the closing of its previously
announced offering of 8,000,000 4.50% Non-Cumulative First
Preferred Shares, Series Y (the "Series Y Preferred Shares")
for gross proceeds of $200 million.
The offering was completed through a syndicate of underwriters led
by BMO Capital Markets, RBC Capital Markets, Scotiabank, CIBC
Capital Markets and TD Securities. The Series Y Preferred Shares
will be listed for trading on the Toronto Stock Exchange under the
symbol "GWO.PR.Y".
The Series Y Preferred 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
Series Y Preferred Shares in any State in which such
offer, solicitation or sale would be unlawful.
Great-West Lifeco
Great-West Lifeco Inc. is an
international financial services holding company with interests in
life insurance, health insurance, retirement and investment
services, asset management and reinsurance businesses. We operate
in Canada, the United States and Europe under the brands Canada Life, Empower
Retirement, Putnam Investments, and Irish
Life. At the end of 2020, our companies had approximately
24,500 employees, 205,000 advisor relationships, and thousands of
distribution partners – all serving our more than 30 million
customer relationships across these regions. Lifeco and its
companies have approximately $2.2
trillion in consolidated assets under administration as of
June 30, 2021 and are members of the
Power Corporation group of companies. Lifeco trades on the Toronto
Stock Exchange under the ticker symbol GWO. To learn more, visit
www.greatwestlifeco.com.
SOURCE Great-West Lifeco Inc.