TSX/NYSE/PSE: MFC SEHK:945
C$ unless otherwise stated
TORONTO, March 10, 2015 /CNW/ - The Manufacturers Life Insurance Company ("MLI"), the Canadian insurance company subsidiary of Manulife Financial Corporation, has successfully completed its previously announced offering of $750 million principal amount of subordinated debentures.
The 2.10% fixed/floating subordinated debentures due June 1, 2025, which are guaranteed by Manulife Financial Corporation on a subordinated basis, 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.
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.
Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in other parts of the world. We provide strong, reliable, trustworthy and forward-thinking solutions for our customers' significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Assets under management by Manulife and its subsidiaries were approximately C$691 billion (US$595 billion) as at December 31, 2014.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.
SOURCE Manulife Financial Corporation
For further information:
Sean B. Pasternak Manulife