{"id":24509,"date":"2014-02-25T21:06:05","date_gmt":"2014-02-26T02:06:05","guid":{"rendered":"http:\/\/prefblog.com\/?p=24509"},"modified":"2014-02-25T21:06:05","modified_gmt":"2014-02-26T02:06:05","slug":"mfc-pr-l","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24509","title":{"rendered":"MFC.PR.L Thumped On Light Volume"},"content":{"rendered":"<p>Manulife Financial Corporation <a href=\"http:\/\/manulife.com\/public\/news\/detail\/0,,lang=en&#038;artId=147782&#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 15 (the &#8220;Series 15 Preferred Shares&#8221;) 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 Scotia Capital Inc., CIBC World Markets and RBC Capital Markets. The Series 15 Preferred Shares commence trading on the Toronto Stock Exchange today under the ticker symbol MFC.PR.L.<\/p>\n<p>The Series 15 Preferred Shares were issued under a prospectus supplement dated February 18, 2014 to Manulife\u2019s short form base shelf prospectus dated July 18, 2012.<\/p><\/blockquote>\n<p>MFC.PR.C is a FixedReset, 3.90%+216, <a href=\"http:\/\/prefblog.com\/?p=24465\">announced February 18<\/a>. It will be tracked by HIMIPref&trade; and assigned to the FixedReset index. As it is issued by an Insurance Holding Company and is not compliant with the banks&#8217; NVCC rules, I have added a &#8220;Deemed Maturity&#8221; entry to the call schedule, dated 2025-1-31, at 25.00.<\/p>\n<p>The issue traded 140,571 shares today in a range of 24.50-68 before closing at 24.50-51, 5&#215;10. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>MFC.PR.L<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.50<br \/>\nBid-YTW : 4.13 %<\/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 15 (the &#8220;Series 15 Preferred Shares&#8221;) 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-24509","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24509","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=24509"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24509\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}