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Feb. 21, 2014 /PRNewswire/ - The Manufacturers Life Insurance Company ("MLI"), the Canadian insurance company subsidiary of Manulife Financial Corporation, has successfully completed its previously announced offering of
$500 million aggregate principal amount of subordinated debentures.
The 2.811% fixed/floating subordinated debentures due
February 21, 2024, which are guaranteed by Manulife Financial Corporation on a subordinated basis, were issued under a prospectus supplement dated
February 18, 2014 to MLI's short form base shelf prospectus dated
December 13, 2013. Details of the offering are set out in the prospectus supplement which is available on the SEDAR website for MLI at
www.sedar.com. The debentures were offered through a syndicate of dealers co-led by RBC Capital Markets, BMO Capital Markets and TD Securities.
The debentures have not been and will not be registered in
the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of
the United States and may not be offered, sold or delivered, directly or indirectly in
the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in
the United States and any public offering of the securities in
the United States must be made by means of a prospectus.
About Manulife Financial
Manulife Financial is a leading
Canada-based financial services group with principal operations in
the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were approximately
C$599 billion (
US$563 billion) as at
December 31, 2013. The Company operates as Manulife Financial in
Asia and primarily as
John Hancock in
the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at
SOURCE Manulife Financial Corporation