Manulife Financial Corporation to Issue S$500 million 2.880% Subordinated Notes Due 2036
Manulife Financial priced an offering of S$500 million in 2.880% subordinated notes due June 4, 2036. The notes qualify as Tier 2 capital for the insurer and will bear a fixed rate of 2.880% until 2031, thereafter floating at 0.931% over the five-year SORA OIS rate. DBS Bank, HSBC, and Standard Chartered acted as joint lead managers, with Bank of China as co-manager.
Key figures
- Deal Value Usd
- S$500 million
- Coupon rate
- 2.880%
- Maturity date
- June 4, 2036
- Capital treatment
- Tier 2
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