C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Nov. 18, 2020 /PRNewswire/ - The Manufacturers
Life Insurance Company ("MLI") today announced its intention to
redeem at par on January 5, 2021 all
of its outstanding $350,000,000
principal amount of 2.389% Fixed/Floating Subordinated Debentures
(the "Debentures") due January 5,
2026. The Debentures are redeemable at MLI's option on or
after January 5, 2021 at a redemption
price per Debenture equal to par, together with accrued and unpaid
interest to but excluding the date of redemption. Formal notice
will be delivered to holders of Debentures in accordance with MLI's
Amended and Restated Trust Indenture.
Interest on the Debentures will cease to accrue on the
redemption date.
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
September 30, 2020, we had
$1.3 trillion (US$943 billion) in assets under management and
administration, and in the previous 12 months we made $31.2 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