Manulife announces intention to redeem 2.237% Fixed/Floating Subordinated Debentures
Manulife Financial (MFC) has announced its plan to redeem all outstanding $1 billion worth of 2.237% Fixed/Floating Subordinated Debentures on May 12, 2025. The debentures, which were originally set to mature in May 2030, will be redeemed at par value along with any accrued and unpaid interest up to the redemption date. Interest on these debentures will stop accruing on the redemption date. The redemption is being executed under MFC's option as per the Trust Indenture, with formal notice to be provided to debenture holders.
Manulife Financial (MFC) ha annunciato il suo piano di riscattare tutti i 1 miliardo di dollari di obbligazioni subordinate a tasso fisso/variabile al 12 maggio 2025. Le obbligazioni, originariamente previste per scadere a maggio 2030, saranno riscattate al valore nominale insieme a qualsiasi interesse maturato e non pagato fino alla data di riscatto. Gli interessi su queste obbligazioni smetteranno di maturare alla data di riscatto. Il riscatto viene effettuato secondo l'opzione di MFC in base al Trust Indenture, con un avviso formale che sarà fornito ai detentori delle obbligazioni.
Manulife Financial (MFC) ha anunciado su plan para redimir todas las $1 mil millones en bonos subordinados de tasa fija/flotante con un interés del 2.237% el 12 de mayo de 2025. Los bonos, que originalmente debían vencer en mayo de 2030, serán redimidos a su valor nominal junto con cualquier interés acumulado y no pagado hasta la fecha de redención. El interés sobre estos bonos dejará de acumularse en la fecha de redención. La redención se lleva a cabo bajo la opción de MFC según el Trust Indenture, con un aviso formal que se proporcionará a los tenedores de bonos.
매뉴라이프 파이낸셜 (MFC)는 10억 달러 상당의 2.237% 고정/변동 후순위 채권을 2025년 5월 12일에 상환할 계획을 발표했습니다. 원래 2030년 5월에 만기될 예정이었던 채권은 상환일까지 발생한 미지급 이자를 포함하여 액면가로 상환됩니다. 이 채권에 대한 이자는 상환일에 발생하지 않게 됩니다. 상환은 신탁 계약에 따라 MFC의 선택으로 실행되며, 채권 보유자에게 공식 통지가 제공될 예정입니다.
Manulife Financial (MFC) a annoncé son projet de racheter l'ensemble des 1 milliard de dollars d'obligations subordonnées à taux fixe/variable de 2,237% le 12 mai 2025. Les obligations, qui devaient initialement arriver à échéance en mai 2030, seront rachetées à leur valeur nominale, ainsi que tout intérêt accumulé et non payé jusqu'à la date de rachat. Les intérêts sur ces obligations cesseront d'être accumulés à la date de rachat. Le rachat est effectué sous l'option de MFC conformément à l'Acte de fiducie, avec un avis formel qui sera fourni aux détenteurs d'obligations.
Manulife Financial (MFC) hat seinen Plan angekündigt, alle ausstehenden 1 Milliarde Dollar an 2,237% fest/variabel nachrangigen Anleihen am 12. Mai 2025 einzulösen. Die Anleihen, die ursprünglich im Mai 2030 fällig werden sollten, werden zum Nennwert sowie mit allen bis zum Einlösungsdatum aufgelaufenen und nicht gezahlten Zinsen eingelöst. Die Zinsen auf diese Anleihen hören am Einlösungsdatum auf zu laufen. Die Einlösung erfolgt nach der Option von MFC gemäß dem Trust Indenture, mit einer formellen Mitteilung an die Anleiheinhaber.
- Early redemption of $1 billion in debt indicates strong cash position
- Potential reduction in interest expense by retiring 2.237% debentures
- Loss of long-term financing source before original 2030 maturity
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945
Interest on the Debentures will cease to accrue on the redemption date.
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Media Contact
Fiona McLean
Manulife
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Hung Ko
Manulife
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SOURCE Manulife Financial Corporation
FAQ
What is the total value of MFC debentures being redeemed in May 2025?
When will MFC's 2.237% Fixed/Floating Subordinated Debentures stop accruing interest?
What is the redemption price for MFC's 2.237% Fixed/Floating Subordinated Debentures?
When were MFC's 2.237% Fixed/Floating Subordinated Debentures originally scheduled to mature?
