Correction: Manulife Financial to Issue CA$1 Billion Subordinated Debentures

MT Newswires Live

2024/12/04

(corrects headline and the first paragraph's currency to CA$)

Manulife Financial (HKG:0945) plans to issue CA$1 billion worth of subordinated debentures due Dec. 6, 2034, according to a Wednesday filing with the Hong Kong bourse.

The debentures will bear interest at a fixed rate of 4.064% until Dec. 6, 2029, and a rate of 1.25% over daily compounded Canadian Overnight Repo Rate Average.

The company intends to use the net proceeds from the issue for investment in subsidiaries, future redemptions of securities and other general corporate purposes.

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