C$ unless otherwise
stated TSX/NYSE/PSE: MFC SEHK:
945
TORONTO , June 15,
2022 /CNW/ - Manulife Financial Corporation
("MFC") has successfully completed its previously
announced offering of $1 billion
principal amount of 7.117% Limited Recourse Capital Notes Series 3
(Subordinated Indebtedness) (the "Notes").
In connection with the issuance of the Notes, MFC issued
1,000,000 Non-Cumulative Fixed Rate Reset Class 1 Shares Series 29
(the "Series 29 Shares") to be held by Computershare Trust
Company of Canada as trustee of
Manulife LRCN Limited Recourse Trust (the "Limited Recourse
Trust"). In case of non-payment of interest on or principal of
the Notes when due, the recourse of each noteholder will be limited
to that holder's proportionate share of the Limited Recourse
Trust's assets in respect of the Notes, which will consist of
Series 29 Shares except in limited circumstances.
The Notes and the Series 29 Shares were issued under a
prospectus supplement dated June 9,
2022 to MFC's existing short form base shelf prospectus.
Details of the offering are set out in the prospectus supplement
which is available on the SEDAR website for MFC at www.sedar.com.
The offering was done on a best efforts agency basis by a syndicate
co-led by RBC Capital Markets, BMO Capital Markets and CIBC Capital
Markets. The Notes were issued under a trust indenture dated
June 16, 2022 between MFC and
BNY Trust Company of Canada.
Neither the Notes nor the Series 29 Shares have been, nor will
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 under
the Securities Act 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 or in any other
jurisdiction where such offer or solicitation would be
unlawful.
About Manulife
Manulife Financial Corporation is a
leading international financial services provider that helps people
make their decisions easier and lives better. With our global
headquarters in Toronto, Canada,
we provide financial advice and insurance, operating as Manulife
across Canada, Asia, and Europe, and primarily as John Hancock in the
United States. Through Manulife Investment Management, the
global brand for our global wealth and asset management segment, we
serve individuals, institutions, and retirement plan members
worldwide. At the end of 2021, we had more than 38,000 employees,
over 119,000 agents, and thousands of distribution partners,
serving over 33 million customers. Our principal operations are in
Asia and Canada, and the
United States, where we have served customers for more than
160 years. We trade as 'MFC' on the Toronto, New
York, and the Philippine stock exchanges and under '945' in
Hong Kong. In the previous 12
months we made CAD$32.7 billion in
payments to our customers.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulife.com.
SOURCE Manulife Financial Corporation