MANULIFE-S (00945.HK)  +0.200 (+0.079%)   announced the issuance of CAD500 million principal amount of 3.983% fixed/ floating subordinated debentures due May 23, 2035.

The net proceeds from the offering of the debentures are intended to be used for general corporate purposes, including investment in subsidiaries and potential future redemptions of existing securities.

The debentures will bear interest at a fixed rate of 3.983% until May 23, 2030, and thereafter at a rate of 1.32% over Daily Compounded CORRA.

Subject to prior regulatory approval, MANULIFE-S may redeem the debentures, in whole or in part, on or after May 23, 2030, at a redemption price equal to par, together with accrued and unpaid interest to, but excluding, the date fixed for redemption.
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