Manulife prices US$750 million subordinated notes offering - MFC News | RalliesManulife prices US$750 million subordinated notes offering
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MFC• Offering terms and reset features
- Manulife priced USD 750 million of 6.146% Subordinated Notes due 2041 under its subordinated indenture framework.
- Interest resets on Sept. 11, 2036 to the 5-year U.S. Treasury CMT rate plus 1.35% through maturity.
- Issuer call option begins Sept. 11, 2031, subject to OSFI approval, with a make-whole style price before the reset date.
- Notes can also be redeemed at par on the reset date, or earlier following a tax event or regulatory capital treatment event.
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