The Manufacturers Life Insurance Company issues $200 million of subordinated debentures

Torys acted as counsel to Manufacturers Life with a team that included David Seville, Jonathan Cescon, Anthony Tam, Jordan Fenton (securities), Blair Keefe (insurance regulatory) and Jim Welkoff and Catrina Card (tax).

On February 25, 2013, The Manufacturers Life Insurance Company issued $200 million aggregate principal amount of subordinated debentures. The debentures were offered on a best efforts basis through a syndicate of dealers co-led by RBC Capital Markets and BMO Capital Markets and included CIBC World Markets, Scotiabank, TD Securities, Merrill Lynch Canada, National Bank Financial, HSBC Securities (Canada) Inc., Desjardins Securities, Laurentian Bank Securities, Canaccord Genuity Corp. and Manulife Securities.

The 2.819% fixed/floating subordinated debentures due February 26, 2023, which are guaranteed by Manulife Financial Corporation on a subordinated basis, were issued under a prospectus supplement dated February 20, 2013 to The Manufacturers Life Insurance Company's short form base shelf prospectus dated November 11, 2011. The offering was announced on February 20, 2013 and closed on February 25, 2013.


Manulife Financial is a financial services company providing financial protection and wealth management products and services, to individual and group customers in Canada, the United States and Asia.

Further information can be found on Canada Newswire's website.