Manulife Financial Corporation to Issue S$500 million 4.275% Subordinated Notes Due 2034

Core Viewpoint - Manulife Financial Corporation has announced the pricing of a S$500 million offering of subordinated notes with a fixed interest rate of 4.275%, maturing on June 19, 2034, which will qualify as Tier 2 capital for the company [10]. Group 1: Offering Details - The offering is expected to close on June 19, 2024 [1]. - The Notes will bear interest at a fixed rate of 4.275% until June 19, 2029, and thereafter at a rate of 1.201% over the then-prevailing five-year SORA OIS rate [8]. - The Notes will mature on June 19, 2034 [8]. Group 2: Regulatory and Market Information - Approval in-principle has been received from the Singapore Exchange Securities Trading Limited for the listing and quotation of the Notes [6]. - The offering will be made solely to non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act [9]. - The Notes will constitute subordinated indebtedness, ranking equally with all other subordinated indebtedness of Manulife [3]. Group 3: Company Overview - Manulife Financial Corporation is a leading international financial services provider, with over 38,000 employees and serving over 35 million customers globally [12]. - The company operates as Manulife in Canada, Asia, and Europe, and primarily as John Hancock in the United States [12]. - Manulife trades as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' in Hong Kong [5][12].