Loan & DebtMay 26, 2026, 01:01 PM
Manulife to Issue S$500M 2.880% Subordinated Notes Due 2036
AI Summary
Manulife Financial Corporation announced the pricing of an offering in Singapore for S$500 million principal amount of 2.880% subordinated notes due June 4, 2036. These notes will qualify as Tier 2 capital for Manulife, strengthening its capital structure. The offering is expected to close on June 4, 2026, and the notes will be listed on the Singapore Exchange Securities Trading Limited.
Key Highlights
- Manulife to issue S$500 million principal amount of subordinated notes.
- Notes bear a fixed interest rate of 2.880% until June 4, 2031.
- Interest rate thereafter will be 0.931% over the five-year SORA OIS rate.
- Notes mature on June 4, 2036.
- The notes will qualify as Tier 2 capital for Manulife.
- Manulife may redeem the notes on June 4, 2031, or any interest payment date thereafter.
- The offering is expected to close on June 4, 2026.
Price Impact
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