An anonymous director reports
MANULIFE ANNOUNCES INTENTION TO REDEEM 2.10% FIXED/FLOATING SUBORDINATED DEBENTURES
Manulife Financial Corp.'s The Manufacturers Life Insurance Co. (MLI) intends to redeem at par on June 1, 2020, all of its outstanding $750-million principal amount of 2.1 per cent fixed/floating subordinated debentures due June 1, 2025. The debentures are redeemable at MLI's option on or after June 1, 2020, at a redemption price per debenture equal to par, together with accrued and unpaid interest to but excluding the date of redemption. Formal notice will be delivered to holders of debentures in accordance with MLI's amended and restated trust indenture.
Interest on the debentures will cease to accrue on the redemption date.
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