MFC green 750 million$ green offering adds to downsideANy hopes of a nearterm return to the 15$ threshhold was dashed when MFC announced this offering.
MFC down over 3.5% today.
Manulife Financial prices $750-million (U.S.) note offering
2022-03-14 16:54 ET - News Release
An anonymous director reports
MANULIFE FINANCIAL CORPORATION PRICES U.S. PUBLIC OFFERING OF SENIOR "GREEN" NOTES
Manulife Financial Corp. has priced a public offering in the United States of $750-million (U.S.) aggregate principal amount of 3.703-per-cent senior notes due 2032 at a public offering price of 100 per cent. The offering was made pursuant to a preliminary prospectus supplement, dated March 14, 2022, to the company's registration statement declared effective by the Securities and Exchange Commission on Sept. 30, 2021.
The company intends to use an amount equal to the net proceeds from the sale of the notes to finance or refinance, in part or in full, new or existing eligible green assets under the Manulife Sustainable Bond Framework. The framework is aligned with the International Capital Market Association's 2021 Green Bond Principles and directs the use of proceeds for green bonds toward renewable energy, green buildings, sustainably managed land use, energy efficiency, clean transportation, sustainable water and waste water management, or pollution prevention and control.
Citigroup Global Markets Inc., BofA Securities Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering.