Transaction|March 10, 2015
Manulife completes subordinated debenture offering
Torys acted as counsel to MLI with a team that included David Seville, Jonathan Cescon and Rob Shaw (corporate/securities), Blair Keefe (insurance regulatory) and Catrina Card (tax).
On March 10, 2015, The Manufacturers Life Insurance Company (MLI) completed its previously announced offering of C$750 million principal amount of subordinated debentures.
The 2.10% fixed/floating subordinated debentures due June 1, 2025, which are guaranteed by Manulife Financial Corporation on a subordinated basis, were offered through a syndicate of dealers co-led by RBC Capital Markets, BMO Capital Markets and Scotiabank Global Banking and Markets.
MLI is the Canadian insurance company subsidiary of Manulife Financial Corporation, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States.
Further information can be found on Canada Newswire's website.