Date Closed

February 23, 2024

Lead Office

Toronto

Value

1.10 Billion CAD

On February 20, 2024, Manulife Financial Corporation ("Manulife") announced its offering of C$1.1 billion principal amount of 5.054% fixed/floating subordinated debentures due February 23, 2034 (the "Debentures"). The Debentures will bear interest at a fixed rate of 5.054% until February 23, 2029 and thereafter at a rate of 1.44% over Daily Compounded CORRA, and will mature on February 23, 2034.

The offering was co-led by a syndicate of dealers including RBC Capital Markets, BMO Capital Markets, and CIBC Capital Markets.

Manulife, headquartered in Toronto, Ontario, is a leading international financial services and insurance group.

RBC Capital Markets, based in Toronto, Ontario, is a global investment bank providing services in banking, finance and capital markets to its clients.

McCarthy Tétrault advised RBC Capital Markets with a team led by Andrew Parker that included Jo-Anna Brimmer, Daryna Kutsyna, Dan Schechner (Business), Leonard Nesbitt, Kabir Jamal, Adam Unick (Tax).