Transaction|November 29, 2013
Manufacturers Life Insurance Company completes subordinated debenture offering
Torys acted as counsel to Manufacturers Life with a team that included David Seville, Jonathan Cescon and Anthony Tam (securities), Blair Keefe (insurance regulatory), Richard Johnson and Leila Ross (tax).
On November 29, 2013, The Manufacturers Life Insurance Company (MLI) reported that it completed its previously announced offering of C$250 million aggregate principal amount of subordinated debentures.
The 2.926% fixed/floating debentures were offered on a best efforts basis through a syndicate of dealers co-led by RBC Capital Markets and BMO Capital Markets and which 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 debentures, which are guaranteed by Manulife Financial Corporation on a subordinated basis, were issued under a prospectus supplement dated November 26, 2013 to The Manufacturers Life Insurance Company's short form base shelf prospectus dated November 11, 2011.
MLI is the Canadian insurance subsidiary of Manulife Financial, 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.
The 2.926% fixed/floating debentures were offered on a best efforts basis through a syndicate of dealers co-led by RBC Capital Markets and BMO Capital Markets and which 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 debentures, which are guaranteed by Manulife Financial Corporation on a subordinated basis, were issued under a prospectus supplement dated November 26, 2013 to The Manufacturers Life Insurance Company's short form base shelf prospectus dated November 11, 2011.
MLI is the Canadian insurance subsidiary of Manulife Financial, 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.