TSX/NYSE/PSE: MFC; SEHK: 0945
TORONTO, June 19 /CNW/ - Manulife Financial Corporation (the "Company")
intends to issue up to $950,000,000 principal amount in two tranches of medium
term notes constituting senior indebtedness pursuant to its medium term note
The medium term notes, to be offered on a best efforts basis through an
agency syndicate comprised of RBC Dominion Securities Inc., TD Securities
Inc., Scotia Capital Inc., CIBC World Markets Inc., HSBC Securities (Canada)
Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Merrill Lynch
Canada Inc., Berkshire Securities Inc., Desjardins Securities Inc. and
Laurentian Bank Securities Inc. are expected to be issued on June 26, 2008.
The first tranche of notes in the principal amount of $550,000,000 will pay a
fixed rate of 5.161 per cent until maturity on June 26, 2015 and the second
tranche of notes in the principal amount of $400,000,000 will pay a fixed rate
of 5.505 per cent until maturity on June 26, 2018.
The notes will be direct unsecured obligations of the Company and will
rank equally with all other unsecured indebtedness of the Company that is not
subordinated. The net proceeds of the offering will be utilized for general
corporate purposes of the Company, including investments in subsidiaries.
The Company intends to file in Canada a pricing supplement to its short
form base shelf prospectus dated March 12, 2007 and prospectus supplement
dated March 27, 2007 in respect of this issue. Complete details of the
offering are set out in the prospectus, which will be available on the SEDAR
website for the Company at www.sedar.com.
The medium term notes have not been and will not be registered in the
United States under the Securities Act of 1933, as amended, and may not be
offered, sold or delivered in the United States absent registration or
applicable exemption from the registration requirement of such Act. This press
release does not constitute an offer to sell or a solicitation to buy the
medium term notes in the United States.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide.
Operating as Manulife Financial in Canada and Asia, and primarily through
John Hancock in the United States, the Company offers customers a diverse
range of financial protection products and wealth management services through
its extensive network of employees, agents and distribution partners. Funds
under management by Manulife Financial and its subsidiaries were
Cdn$400 billion (US$389 billion) as at March 31, 2008.
Manulife Financial is one of two publicly traded life insurance companies
in the world whose rated life insurance subsidiaries hold Standard & Poor's
Rating Services' highest "AAA" rating.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK. Manulife Financial can be found on the Internet
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements that are based on
certain assumptions and reflect the Company's current expectations.
Forward-looking statements do not relate to historical facts and include the
Company's expectations about the offering. There can be no assurance that the
offering will be completed. Forward-looking statements are subject to a number
of risks and uncertainties that could cause actual results or events to differ
materially from current expectations. Some of the material factors that could
cause actual results to differ materially from current expectations are
discussed in materials filed by the Company from time to time with securities
regulatory authorities. The Company does not undertake any obligation to
update publicly or to revise any of the forward-looking statements contained
in this news release, whether as a result of new information, future events or
otherwise, except as required by law.
For further information:
For further information: Media inquiries: Laurie Lupton, (416) 852-7792,
firstname.lastname@example.org; Investor Relations: Amir Gorgi, 1-800-795-9767,