Manulife Financial (MFC) said Monday that it plans to redeem all of its outstanding $1 billion principal amount of 2.237% fixed/floating subordinated debentures at par on May 12.
The company said the debentures are due May 12, 2030, but it has the option to redeem beginning May 12 this year.
Shares of Manulife Financial were down 4.5% just after the market opened Monday.
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