{"id":17220,"date":"2011-12-06T22:55:00","date_gmt":"2011-12-07T02:55:00","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17220"},"modified":"2011-12-06T22:55:00","modified_gmt":"2011-12-07T02:55:00","slug":"mfc-pr-g-settles-at-steep-discount-on-low-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17220","title":{"rendered":"MFC.PR.G Settles at Steep Discount on Low Volume"},"content":{"rendered":"<p>Manulife Financial Corporation <a href=\"http:\/\/www.manulife.com\/public\/news\/detail\/0,,lang=en&#038;artId=146729&#038;navId=630002,00.html\">has announced<\/a>:<\/p>\n<blockquote><p>that it has completed its offering of 8 million Non-cumulative Rate Reset Class 1 Shares Series 5 (the \u201cSeries 5 Preferred Shares\u201d) at a price of $25 per share to raise gross proceeds of $200 million.<\/p>\n<p>The offering was underwritten by a syndicate of investment dealers co-led by RBC Capital Markets and Scotia Capital Inc. The Series 5 Preferred Shares commence trading on the Toronto Stock Exchange today under the ticker symbol MFC.PR.G.<\/p>\n<p>The Series 5 Preferred Shares were issued under a prospectus supplement dated November 29, 2011 to Manulife\u2019s short form base shelf prospectus dated September 3, 2010.<\/p><\/blockquote>\n<p>The $200-million issue size implies that not a single dollar of the $50-million greenshoe was exercised.<\/p>\n<p>MFC.PR.G is a 4.40%+290 FixedReset <a href=\"http:\/\/www.prefblog.com\/?p=17151\">announced November 29<\/a>. This issue will be tracked by HIMIPref&trade; and is assigned to the FixedReset index.<\/p>\n<p>The issue traded 93,042 shares today in a range of 23.66-56, a very high range for an investment-grade opening day, before closing at 24.10-28, 11&#215;5.<\/p>\n<p>Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>MFC.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.10<br \/>\nBid-YTW : 4.81 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Manulife Financial Corporation has announced: that it has completed its offering of 8 million Non-cumulative Rate Reset Class 1 Shares Series 5 (the \u201cSeries 5 Preferred Shares\u201d) at a price of $25 per share to &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-17220","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17220"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17220\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}