Manulife completes C$1 billion of subordinated debentures

Torys acted as counsel to Manulife with a team that included David Seville, Jonathan Cescon, Rob Shaw and Justin Crawford (corporate/securities), Blair Keefe (insurance regulatory) and Catrina Card (tax).

On November 20, 2015, The Manufacturers Life Insurance Company (MLI) completed its previously announced offering of C$1 billion principal amount of subordinated debentures.

The 3.181% fixed/floating subordinated debentures, which are due November 22, 2027 and 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, the Canadian insurance company subsidiary of Manulife Financial Corporation, is a leading international financial services group that provides financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions.

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