U.S. markets closed
  • S&P 500

    3,638.35
    +8.70 (+0.24%)
     
  • Dow 30

    29,910.37
    +37.90 (+0.13%)
     
  • Nasdaq

    12,205.85
    +111.44 (+0.92%)
     
  • Russell 2000

    1,855.27
    +10.25 (+0.56%)
     
  • Crude Oil

    45.53
    -0.18 (-0.39%)
     
  • Gold

    1,788.10
    -23.10 (-1.28%)
     
  • Silver

    22.64
    -0.81 (-3.44%)
     
  • EUR/USD

    1.1970
    +0.0057 (+0.48%)
     
  • 10-Yr Bond

    0.8420
    -0.0360 (-4.10%)
     
  • GBP/USD

    1.3314
    -0.0042 (-0.32%)
     
  • USD/JPY

    104.0850
    -0.1650 (-0.16%)
     
  • BTC-USD

    17,721.14
    +535.80 (+3.12%)
     
  • CMC Crypto 200

    333.27
    -4.23 (-1.25%)
     
  • FTSE 100

    6,367.58
    +4.65 (+0.07%)
     
  • Nikkei 225

    26,644.71
    +107.40 (+0.40%)
     

Manulife announces intention to redeem 2.389% Fixed/Floating Subordinated Debentures

·2 min read

C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945

TORONTO, Nov. 18, 2020 /CNW/ - The Manufacturers Life Insurance Company ("MLI") today announced its intention to redeem at par on January 5, 2021 all of its outstanding $350,000,000 principal amount of 2.389% Fixed/Floating Subordinated Debentures (the "Debentures") due January 5, 2026. The Debentures are redeemable at MLI's option on or after January 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.

Manulife Logo (CNW Group/Manulife Financial Corporation)
Manulife Logo (CNW Group/Manulife Financial Corporation)

Interest on the Debentures will cease to accrue on the redemption date.

About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2019, we had more than 35,000 employees, over 98,000 agents, and thousands of distribution partners, serving almost 30 million customers. As of September 30, 2020, we had $1.3 trillion (US$943 billion) in assets under management and administration, and in the previous 12 months we made $31.2 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/manulife-announces-intention-to-redeem-2-389-fixedfloating-subordinated-debentures-301176340.html

SOURCE Manulife Financial Corporation

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2020/18/c2215.html