PrefBlog

Manulife Financial has announced:

that it has completed its offering of 10 million Non-cumulative Rate Reset Class 1 Shares Series 9 (the “Series 9 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 Scotiabank, CIBC and RBC Capital Markets. The Series 9 Preferred Shares commence trading on the Toronto Stock Exchange today under the ticker symbol MFC.PR.I.

The Series 9 Preferred Shares were issued under a prospectus supplement dated May 16, 2012 to Manulife’s short form base shelf prospectus dated September 3, 2010.

MFC.PR.I is a FixedReset, 4.40%+286, announced May 16. The issue will be tracked by HIMIPref™ and assigned to the FixedReset subindex. In accordance with HIMI’s other analysis on DeemedRetractibles, a “DeemedMaturity” on 2022-1-31 at 25.00 has been added to the call schedule.

The issue traded 263,530 shares in a range of 24.85-91 before closing at 24.76-90, 11×246. Vital statistics are:

This entry was posted on Thursday, May 24th, 2012 at 8:15 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.