OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned Long-Term Issue Credit Ratings of “bbb+” to the CAD 1.0 billion 2.237% fixed-to-floating rate subordinated debentures due May 12, 2030, and the CAD 1.0 billion 2.818% fixed-to-floating rate subordinated debentures due May 13, 2035, recently issued by Manulife Financial Corporation (Toronto, Canada). The outlook assigned to these Credit Ratings (rating) is stable.
The proceeds from the sale of debentures will be used for general corporate purposes, which can include future refinancing requirements.
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