TORONTO: The Manufacturers Life Insurance Company completed its previously announced offering of $750 million principal amount of subordinated debentures.
The 2.10% fixed/floating subordinated debentures due June 1, 2025 were issued under a prospectus supplement dated March 5, 2015 to MLI’s short form base shelf prospectus dated December 13, 2013. Details of the offering are set out in the prospectus supplement which is available on the SEDAR website for MLI at www.sedar.com. The debentures were offered through a syndicate of dealers co-led by RBC Capital Markets, BMO Capital Markets and Scotiabank Global Banking and Markets.
These are guaranteed by Manulife Financial Corporation on a subordinated basis. 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.
