Manulife Financial completes $500 million debenture offering

Manulife Financial Corp. subsidiary Manufacturers Life Insurance Co. has completed its offering of $500 million of subordinated debentures.

The 4.165% fixed/floating subordinated debentures are due June 1, 2022. The notes are guaranteed by Manulife Financial on a subordinated basis.

Net proceeds from the offering will be utilized for general corporate purposes.

The debentures were offered through a syndicate of dealers co-led by RBC Capital Markets and BMO Capital Markets.

Source: Manufacturers Life Insurance