Ms. Odette Coleman reports
MANULIFE ANNOUNCES INTENTION TO REDEEM 2.389% FIXED/FLOATING SUBORDINATED DEBENTURES
Manulife Financial Corp. (The Manufacturers Life Insurance Company) intends to redeem at par on Jan. 5, 2021, all of its outstanding $350-million principal amount of 2.389-per-cent fixed/floating subordinated debentures due Jan. 5, 2026. The debentures are redeemable at MLI's option on or after Jan. 5, 2021, 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.
Manulife Financial is a leading international financial service 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. It provides financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2019, it had more than 35,000 employees, over 98,000 agents and thousands of distribution partners, serving almost 30 million customers. As of Sept. 30, 2020, it had $1.3-trillion ($943-billion (U.S.)) in assets under management and administration, and in the previous 12 months, it made $31.2-billion in payments to its customers. Its principal operations are in Asia, Canada and the United States, where it has served customers for more than 155 years. It trades as MFC on the Toronto, New York and the Philippine stock exchanges, and under 945 in Hong Kong.
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