OREANDA-NEWS. Manulife Financial Corporation (“MFC”) announced today that it has priced an offering in Taiwan of U.S.$1 billion principal amount of 4.70% senior notes due June 23, 2046 (the “Notes”). The offering will be made pursuant to a prospectus supplement dated June 7, 2016 to MFC’s existing base shelf prospectus. The Notes will bear interest at a fixed rate of 4.70% and will mature on June 23, 2046.

“Similar to recently completed transactions in Singapore and the United States, this offering is an important part of our global strategy to diversify funding sources. We are pleased with the demand it generated as well as its attractive pricing and features”, said Steve Roder, Chief Financial Officer. “We anticipate that these issues will further strengthen our already strong capitalization, even after funding potential redemptions later this year and completing the previously announced pension transaction with Standard Chartered Bank in Hong Kong.”

Roy Gori, President and Chief Executive Officer of Manulife Asia, said “The demand for our offering in Taiwan reflects Manulife’s strong presence and brand awareness in Asia. It also provides a great opportunity to broaden our relationships with our bank partners in the region.”

The Notes will be subject to redemption in whole, but not in part, at the option of MFC, on June 23, 2021 and thereafter on every June 23rd, on not less than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest thereon to, but excluding, the redemption date. The Notes will be direct unsecured obligations of MFC and rank equally in right of payment with all of its existing and future unsecured and unsubordinated indebtedness.

The Notes have not been, and will not be, offered, sold or re-sold, directly, or indirectly, to purchasers other than “professional institutional investors” as defined under Paragraph 2, Article 4 of the Financial Consumer Protection Act of the Republic of China. Purchasers of the Notes are not permitted to sell or otherwise dispose of the Notes except by transfer to a professional institutional investor.

The offering is expected to close on or about June 23, 2016. Application will be made to the Taipei Exchange (the “TPEx”) for the listing of, and permission to deal in, the Notes by way of debt issues to professional institutional investors only and such permission is expected to become effective on or about June 23, 2016. Listing will be subject to MFC fulfilling all the listing requirements of the TPEx.