Manulife Financial Corporation has announced:
that it has completed its offering of 10 million Non-cumulative Rate Reset Class 1 Shares Series 7 (the “Series 7 Preferred Shares”) at a price of $25 per share to raise gross proceeds of $250 million.
The offering was underwritten by a syndicate of investment dealers co-led by Scotia Capital Inc., RBC Capital Markets and TD Securities. The Series 7 Preferred Shares commence trading on the Toronto Stock Exchange today under the ticker symbol MFC.PR.H.
The Series 7 Preferred Shares were issued under a prospectus supplement dated February 14, 2012 to Manulife’s short form base shelf prospectus dated September 3, 2010.
MFC.PR.H is a FixedReset, 4.60%+313 announced February 14.
The issue traded 649,139 shares today in a range of 24.90-05 before closing at 25.00-03, 25×141. The issue will be tracked by HIMIPref™ and assigned to the FixedReset index. Vital statistics are:
|MFC.PR.H||FixedReset||Not Calc!||YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 4.61 %