{"id":20464,"date":"2012-12-05T00:04:30","date_gmt":"2012-12-05T04:04:30","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=20464"},"modified":"2012-12-05T00:04:30","modified_gmt":"2012-12-05T04:04:30","slug":"mfc-pr-j-firm-on-good-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=20464","title":{"rendered":"MFC.PR.J Firm on Good Volume"},"content":{"rendered":"

Manulife Financial Corporation has announced<\/a>:<\/p>\n

that it has completed its offering of 8 million Non-cumulative Rate Reset Class 1 Shares Series 11 (the \u201cSeries 11 Preferred Shares\u201d) at a price of $25 per share to raise gross proceeds of $200 million.<\/p>\n

The offering was underwritten by a syndicate of investment dealers co-led by Scotiabank, RBC Capital Markets and TD Securities Inc. The Series 11 Preferred Shares commence trading on the Toronto Stock Exchange today under the ticker symbol MFC.PR .J.<\/p>\n

The Series 11 Preferred Shares were issued under a prospectus supplement dated November 27, 2012 to Manulife\u2019s short form base shelf prospectus dated July 18, 2012.<\/p><\/blockquote>\n

MFC.PR.J is a FixedReset, 4.00%+261, announced November 27<\/a>. It will be tracked by HIMIPref™ and is assigned to the FixedReset sub-index.<\/p>\n

As this issue is issued by an Insurance Holding Company and has no NVCC Clause<\/a> – not surprising, given OSFI’s continued foot-dragging regarding clarification of this issue<\/a> – I have followed my usual practice and have inserted a “DeemedMaturity” entry into the call schedule; analytics will be performed as if the issue was set to mature 2022-1-31 at par. This entry may have its date changed, or even disappear completely, as the mystery unfolds.<\/p>\n

MFC.PR.J traded 375,718 shares today in a range of 24.87-07 before closing at 25.01-05, 20×70. Vital statistics are:<\/p>\n

\n\n\n
MFC.PR.J<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.01
\nBid-YTW : 3.96 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Manulife Financial Corporation has announced: that it has completed its offering of 8 million Non-cumulative Rate Reset Class 1 Shares Series 11 (the \u201cSeries 11 Preferred Shares\u201d) at a price of $25 per share to …<\/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-20464","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20464","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=20464"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/20464\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}