Manulife Prices $750 Million Subordinated Notes Due 2041

Manulife (00945) has priced its public offering in the United States of $750 million principal amount of 6.146% subordinated notes due 2041 at 100.000%, according to ETNet. The notes are expected to be issued on September 11, 2026 and will pay a fixed annual interest rate of 6.146% until the reset date on September 11, 2036. From that date to September 11, 2041, the coupon will equal the CMT rate determined on the third business day before the reset date, plus a spread of 1.350%. Manulife said the proceeds are expected to count as Tier 2 capital, with net proceeds to be used for general corporate purposes, including possible future refinancing needs.