Manulife Financial to sell 10-year dollar-denominated senior notes

By Marisa Wong

Los Angeles, March 14 – Manulife Financial Corp. intends to price dollar-denominated fixed-rate senior notes due 2032, according to a prospectus supplement filed with the Securities and Exchange Commission.

The notes will feature a make-whole call and then a par call.

Citigroup Global Markets Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

The Toronto-based financial services group plans to use the proceeds to finance or refinance new or existing eligible green assets.

Specifically, proceeds will not be knowingly allocated in support of petroleum, tobacco, alcohol, weapons, gambling or adult entertainment. Instead, funds will be used for projects supporting renewable energy, green buildings, environmentally sustainable management of natural resources and land use, energy efficiency, clean transportation, sustainable water management, pollution prevention and control.

The Bank of New York Mellon is the trustee.

The issuer will receive advice on legal matters relating to Canadian law from Torys LLP and related to U.S. law from Debevoise & Plimpton LLP. Paul, Weiss, Rifkind, Wharton & Garrison LLP (U.S. law) and McCarthy Tetrault LLP (Canadian law) is counsel for the underwriters.

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