Manulife Financial Corp., a global financial services provider headquartered in Canada, said it plans to redeem all outstanding USD750 million principal amount of 3.049 percent fixed/floating subordinated debentures on August 20.
The debentures, originally due on August 20, 2029, will be redeemed at their face value, plus accrued and unpaid interest up to but not including the redemption date.
The redemption of the debentures is exercisable by Manulife starting from August 20, as per the terms outlined in its trust indenture governing the debentures.
Formal notice detailing the redemption process will be provided to all Debenture holders.
Following the redemption date, interest accrual on the debentures will cease.
The redemption reflects Manulife’s strategic financial management and its commitment to optimizing its capital structure.
Manulife shares are traded on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong
