Manulife Financial to Issue C$750 Million Worth of 3.049% Fixed/Floating Subordinated Debentures

By Joanne Chiu Features Dow Jones Newswires

Manulife Financial Corp. (MFC) is seeking to issue 750 million Canadian dollars (US$587.9 million) worth of subordinated debentures due 2029 for debt redemption and other future financing requirements.

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The company said Wednesday that the debentures will bear interest at a fixed rate of 3.049% until 2024 and thereafter at a rate of 1.05% over the three-month Canadian Dollar Offered Rate.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

August 15, 2017 21:04 ET (01:04 GMT)