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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).

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