Transactions & Cases Detail



Transaction/Case Details

The Manufacturers Life Insurance Company (Manulife) completes C$250 million issuance of subordinated debentures

DATE CLOSED

November 29, 2013

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto

VALUE

250 Million CAD


OVERVIEW

On November 29, 2013, The Manufacturers Life Insurance Company (Manulife) completed its C$250 million aggregate principal amount of subordinated debentures. The debentures were offered on a best efforts basis through a syndicate of dealers co-led by RBC Capital Markets and BMO Capital Markets and included CIBC World Markets, Scotiabank, TD Securities, Merrill Lynch Canada, National Bank Financial, HSBC Securities (Canada), Desjardins Securities, Laurentian Bank Securities, Canaccord Genuity and Manulife Securities.
 
The 2.926% fixed/floating subordinated debentures due November 29, 2023, which are guaranteed by Manulife Financial Corporation on a subordinated basis, were issued under a prospectus supplement dated November 26, 2013 to The Manufacturers Life Insurance Company’s short form base shelf prospectus dated November 11, 2011.
 
McCarthy Tétrault LLP represented RBC Capital Markets as the co-lead of the dealers syndicate, with a team led by Barry Ryan and including Andrew Parker, Matthew Appleby, David Badour and Gabrielle Richards.

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