C$ unless otherwise stated
TSX/NYSE/PSE: MFC
SEHK:945
TORONTO,
Nov. 26, 2014 /PRNewswire/ - Manulife
Financial Corporation ("Manulife") today announced that as a result
of strong investor demand for its previously announced Canadian
public offering of Non-cumulative Rate Reset Class 1 Shares Series
19 ("Series 19 Preferred Shares"), the size of the offering has
been increased to 10 million shares. The gross proceeds of the
offering will now be $250 million.
The offering will be underwritten by a syndicate of investment
dealers co-led by Scotia Capital Inc., CIBC World Markets and RBC
Capital Markets and is anticipated to qualify as Tier 1 capital for
Manulife. The expected closing date for the offering is
December 3, 2014. Manulife intends to
file a prospectus supplement to its June 23,
2014 base shelf prospectus in respect of this issue.
Manulife intends to use the net proceeds from the offering for
general corporate purposes, including future refinancing
requirements.
The Series 19 Preferred Shares have not been and will not be
registered in the United States
under the United States Securities Act of 1933, as amended (the
"Securities Act"), or the securities laws of any state of
the United States and may not be
offered, sold or delivered, directly or indirectly in the United States or to, or for the account or
benefit of, a "U.S. person" (as defined in Regulation S under the
Securities Act) absent registration or an applicable exemption from
such registration requirements. This press release does not
constitute an offer to sell or a solicitation to buy securities in
the United States and any public
offering of the securities in the United
States must be made by means of a prospectus.
About Manulife
Manulife is a leading Canada-based financial services group with
principal operations in Asia,
Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in
other parts of the world. We provide strong, reliable, trustworthy
and forward-thinking solutions for our customers' significant
financial decisions. Our international network of employees, agents
and distribution partners offers financial protection and wealth
management products and services to millions of clients. We also
provide asset management services to institutional customers. Funds
under management by Manulife and its subsidiaries were
approximately C$663 billion
(US$591 billion) as at September 30, 2014.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE
and PSE, and under '945' on the SEHK. Manulife can be found on the
Internet at manulife.com.
SOURCE Manulife Financial Corporation