Manulife Financial issues C$1B principal amount of 4.064% fixed/floating subordinated debentures due December 6, 2034
Date Closed
December 6, 2024
Lead Office
Toronto
Value
1.00 Billion CAD
On December 6, 2024, Manulife Financial Corporation ("MFC") issued C$1 billion principal amount of 4.064% fixed/floating subordinated debentures due December 6, 2034 (the "Debentures"). The Debentures will bear interest at a fixed rate of 4.064% until December 6, 2029 and thereafter at a rate of 1.25% over Daily Compounded CORRA and will mature on December 6, 2034.
The offering was co-led by a syndicate of agents including RBC Capital Markets, CIBC Capital Markets and Scotiabank.
McCarthy Tétrault assisted RBC Capital Markets and the dealers with a team led by Andrew Parker that included Jo-Anna Brimmer, Daryna Kutsyna, Dan Schechner (Business), Leonard Nesbitt, Kabir Jamal and Kathryn Walker (Tax).