C$ unless otherwise
stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Aug. 13, 2020 /CNW/ - Manulife Financial
Corporation ("MFC") announced today that it has priced an offering
in Taiwan of U.S.$1,155,000,000 principal amount of 3.050%
senior notes due August 27,
2060 (the "Notes"). The offering will be made pursuant to a
prospectus supplement dated August 13,
2020 to MFC's existing base shelf prospectus. The Notes
will bear interest at a fixed rate of 3.050% and will mature on
August 27, 2060.
The Notes will be subject to redemption in whole, but not in
part, at the option of MFC, on August 27,
2025 and thereafter on every August
27, on not less than 15 nor more than 60 days' prior notice,
at a redemption price equal to 100% of the principal amount
thereof, together with accrued and unpaid interest thereon to, but
excluding, the redemption date. The Notes will be direct unsecured
obligations of MFC and rank equally in right of payment with all of
its existing and future unsecured and unsubordinated
indebtedness.
The Notes have not been, and will not be, offered, sold or
re-sold, directly, or indirectly, to purchasers other than
"professional institutional investors" as defined under Paragraph
2, Article 4 of the Financial Consumer Protection Act of the
Republic of China. Purchasers of
the Notes are not permitted to sell or otherwise dispose of the
Notes except by transfer to a professional institutional
investor.
The offering is expected to close on or about August 27, 2020. Application will be made to the
Taipei Exchange (the "TPEx") for the listing of, and permission to
deal in, the Notes by way of debt issues to professional
institutional investors only and such permission is expected to
become effective on or about August 27,
2020. Listing will be subject to MFC fulfilling all the
listing requirements of the TPEx.
Standard Chartered Bank (Taiwan) Limited, HSBC Bank (Taiwan) Limited, Australia and New Zealand Banking Group
Limited, Taipei Branch, BNP
Paribas SA, Taipei Branch and DBS
Bank (Taiwan) Ltd. have been
appointed as managers for the offering.
MFC intends to use the net proceeds from the offering for
general corporate purposes.
The Notes have not been and will not be registered in
the United States under the
United States Securities Act of 1933, as amended (the
"Securities Act"), or the securities laws of any state of
the United States or other
jurisdiction and may not be offered or sold within the United States, or to, or for the account
or benefit of, "U.S. persons" (as defined in Regulation S under the
Securities Act) except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state or local securities law. The
offering will be made solely to non-U.S. persons in offshore
transactions pursuant to Regulation S under the Securities Act.
This press release does not constitute an offer to sell or a
solicitation to buy securities in the
United States or any other jurisdiction where it is unlawful
to do so.
The Notes will not be offered or sold, directly or indirectly,
in Canada or to any resident of
Canada.
About Manulife
Manulife Financial Corporation is a leading international
financial services group that helps people make their decisions
easier and lives better. With our global headquarters in
Toronto, Canada, we operate as
Manulife across our offices in Canada, Asia,
and Europe, and primarily as
John Hancock in the United States. We provide financial
advice, insurance, and wealth and asset management solutions for
individuals, groups and institutions. At the end of 2019, we had
more than 35,000 employees, over 98,000 agents, and thousands of
distribution partners, serving almost 30 million customers. As of
June 30, 2020, we had $1.2 trillion (US$0.9
trillion) in assets under management and administration, and
in the previous 12 months we made $30.6
billion in payments to our customers. Our principal
operations are in Asia,
Canada and the United States where we have served
customers for more than 155 years. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
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SOURCE Manulife Financial Corporation