Manulife Prices $750M Subordinated Notes Offering
Manulife Financial Corporation (NYSE: MFC) has priced a U.S. public offering of USD$750 million in aggregate principal amount of subordinated notes due in 2041, with an interest rate of 6.146%. The issuance is expected to qualify as Tier 2 regulatory capital and will be issued on September 11, 2026. The fixed interest rate applies until the Reset Date (September 11, 2036), after which it may adjust based on a spread over the CMT Rate. The notes can be redeemed by Manulife under certain conditions and with regulatory approval starting in September 2031. Proceeds will support general corporate purposes including potential refinancing needs. BofA Securities, Citigroup, J.P. Morgan, and Morgan Stanley are acting as joint book-running managers for the offering.
Tickers: $MFC