Manulife offers $270 million 3.527% notes; Universal Entertainment prices $200 million

By Devika Patel

Knoxville, Tenn., Nov. 28 – Monday offered up three deals in private placement news, with international issuers boasting the largest sizes. Toronto financial services group Manulife Financial Corp. announced that it is offering $270 million of 3.527% senior notes due Dec. 2, 2026, and Tokyo-based Universal Entertainment Corp. priced $200 million of 8½% notes due Aug. 24, 2020 on Friday, which will be sold by agent Deutsche Securities Inc.

Additionally, IEG Holdings Corp. launched a $10 million self-underwritten private placement of 12% senior notes due Dec. 31, 2026 on Monday. The Las Vegas consumer finance company will use the funds to increase the size of its loan book.

The Manulife notes will settle on Friday and will fund general corporate purposes.

The Universal Entertainment note has a call premium for the first four years and is then callable at par; funds from the note will be used for construction and operating costs for the opening of a resort called Okada Manila. The issuer manufactures pachinko, slot machines, arcade games and other gaming products and publishes video games.

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