TSX:MFCInsurance
Should Manulife’s New S$500 Million Tier 2 Notes Shape How Investors View Its Capital Strategy (TSX:MFC)?
Earlier this week, Manulife Financial completed the pricing of a S$500,000,000 subordinated Tier 2 notes offering in Singapore, paying a 2.880% fixed coupon until June 4, 2031, then resetting to 0.931% over the five-year SORA OIS rate, with maturity on June 4, 2036 and a callable feature from 2031.
This Singapore dollar Tier 2 issuance deepens Manulife’s presence in Asian capital markets while adding loss-absorbing capital that can support future balance sheet flexibility and regulatory...