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Manulife Financial Corp
Symbol MFC
Shares Issued 1,940,248,628
Close 2021-02-18 C$ 25.00
Recent Sedar Documents

Manulife closes $2B Limited Recourse notes offering

2021-02-19 10:48 ET - News Release

An anonymous director reports

MANULIFE COMPLETES LIMITED RECOURSE CAPITAL NOTES OFFERING

Manulife Financial Corp. has completed its previously announced offering of $2-billion principal amount of 3.375 per cent Limited Recourse Capital Notes Series 1 (subordinated indebtedness).

In connection with the issuance of the notes, Manulife issued two million Non-Cumulative Fixed Rate Reset Class 1 shares Series 27 to be held by Computershare Trust Company of Canada as trustee of a newly formed trust. In case of non-payment of interest on or principal of the notes when due, the recourse of each noteholder will be limited to that holder's proportionate share of the limited recourse trust's assets, which will consist of Series 27 shares except in limited circumstances.

The notes and the Series 27 shares were issued under a prospectus supplement dated Feb. 12, 2021, to Manulife's existing short-form base shelf prospectus. Details of the offering are set out in the prospectus supplement which is available on the SEDAR. The offering was done on a best efforts agency basis by a syndicate co-led by RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities.

About Manulife Financial Corp.

Manulife is a leading international financial services group that helps people make their decisions easier and lives better. With its global headquarters in Toronto, Canada, the company operates as Manulife across its offices in Canada, Asia and Europe, and primarily as John Hancock in the United States. Manulife provides financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions.

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