Manulife completes subordinated debenture offering

Torys acted as counsel to MLI with a team that included David Seville, Jonathan Cescon and Anthony Tam (corporate/securities), Blair Keefe (insurance regulatory) and Catrina Card (tax).

On June 1, 2015, The Manufacturers Life Insurance Company (MLI) completed its previously announced offering of C$350 million principal amount of subordinated debentures.

The 2.389% fixed/floating subordinated debentures due January 5, 2026, 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 TD Securities.

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 PR Newswire's website.