C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK:
945
The prospectus supplement, the corresponding base shelf
prospectus and any amendment thereto in connection with this
offering will be accessible through SEDAR+ within two business
days.
TORONTO, Dec. 3, 2024
/CNW/ - Manulife Financial Corporation
("MFC") announced today that it intends to issue
$1 billion principal amount of 4.064%
fixed/floating subordinated debentures due December 6, 2034 (the "Debentures").
MFC intends to file a prospectus supplement to its
existing base shelf prospectus in respect of this issue.
The Debentures will bear interest at a fixed rate of 4.064%
until December 6, 2029 and thereafter
at a rate of 1.25% over Daily Compounded CORRA. The Debentures
mature on December 6, 2034.
Subject to prior regulatory approval, MFC may redeem the
Debentures, in whole or in part, on or after December 6, 2029 at a redemption price equal to
par, together with accrued and unpaid interest to, but excluding,
the date fixed for redemption. The Debentures will constitute
subordinated indebtedness, ranking equally and rateably with all
other subordinated indebtedness of MFC from time to time issued and
outstanding (other than subordinated indebtedness which has been
further subordinated in accordance with its terms).
The offering is being done on a best efforts agency basis by a
syndicate co-led by RBC Capital Markets, CIBC Capital Markets and
Scotiabank. The offering is expected to close on December 6, 2024.
MFC intends to use the net proceeds from the offering of the
Debentures for general corporate purposes, including investment in
subsidiaries and potential future redemptions of existing
securities.
The Debentures have not been and will not be registered in
the United States under the United
States Securities Act of 1933, as amended (the "Securities
Act"), or the securities laws of any state of the United States and may not be offered, sold
or delivered, directly or indirectly, in the United States or to, or for the account or
benefit of, a "U.S. person" (as defined in Regulation S under the
Securities Act) absent registration or an applicable exemption from
such registration requirements. This press release does not
constitute an offer to sell or a solicitation to buy securities in
the United States and any public
offering of the securities in the United
States must be made by means of a prospectus.
Access to the prospectus supplement, the corresponding base
shelf prospectus and any amendment thereto in connection with the
offering of the Debentures is provided in accordance with
securities legislation relating to procedures for providing access
to a prospectus supplement, a base shelf prospectus and any
amendment thereto. The prospectus supplement, the corresponding
base shelf prospectus and any amendment thereto in connection with
the offering will be accessible within two business days at
www.sedarplus.ca. An electronic or paper copy of the prospectus
supplement, the corresponding base shelf prospectus and any
amendment to the documents may be obtained, without charge, from
RBC Capital Markets by email at torontosyndicate@rbccm.com or phone
at 416-842-6311, CIBC Capital Markets by email at
mailbox.cibcdebtsyndication@cibc.com or phone at
416-594-8515 or Scotiabank by email at
syndicate.toronto@scotiabank.com or phone at 416-863-7438.
About Manulife
Manulife Financial Corporation is a leading international
financial services provider, helping people make their decisions
easier and lives better. With our global headquarters in
Toronto, Canada, we provide
financial advice and insurance, operating as Manulife across
Canada, Asia, and Europe, and primarily as John Hancock in the
United States. Through Manulife Investment Management, the
global brand for our Global Wealth and Asset Management segment, we
serve individuals, institutions, and retirement plan members
worldwide. At the end of 2023, we had more than 38,000 employees,
over 98,000 agents, and thousands of distribution partners, serving
over 35 million customers. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges,
and under '945' in Hong Kong.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulife.com.
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SOURCE Manulife Financial Corporation