Manulife to Raise S$500 Million via Tier 2 Subordinated Notes in Singapore
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Manulife Financial ( (TSE:MFC) ) just unveiled an update.
On May 26, 2026, Manulife Financial Corporation announced it has priced a S$500 million offering of 2.880% subordinated notes due June 4, 2036 in Singapore. The notes will qualify as Tier 2 capital, reinforcing Manulife’s regulatory capital base and supporting its global financial services operations.
The notes carry a fixed 2.880% coupon until June 4, 2031, after which the rate resets to 0.931% over the then-prevailing five-year SORA OIS rate. Manulife may redeem the notes at par, with regulatory approval, from June 4, 2031 and on any interest payment date thereafter, and has secured in-principle approval for listing on the Singapore Exchange ahead of the expected June 4, 2026 closing.
DBS Bank, HSBC’s Singapore branch, and Standard Chartered Bank (Singapore) are acting as joint lead managers and bookrunners, with Bank of China’s Singapore branch as co-manager. The issuance, targeted solely at non-U.S. and non-Canadian investors under Regulation S, broadens Manulife’s funding base in Asia while deepening its presence in Singapore’s debt capital market.
The most recent analyst rating on (TSE:MFC) stock is a Buy with a C$55.00 price target. To see the full list of analyst forecasts on Manulife Financial stock, see the TSE:MFC Stock Forecast page.
Spark’s Take on MFC Stock
According to Spark, TipRanks’ AI Analyst, MFC is a Outperform.
The score is driven primarily by solid financial performance (recovered profitability and moderate leverage) and a constructive earnings-call outlook with reiterated targets, strong capital position, and enhanced shareholder returns. Offsetting factors are uneven cash-flow momentum and a mixed near-term technical picture, while valuation is reasonable and supported by the dividend.
To see Spark’s full report on MFC stock, click here.
More about Manulife Financial
Manulife Financial Corporation is a leading international financial services provider headquartered in Toronto, Canada. Operating as Manulife in Canada and Asia and primarily as John Hancock in the U.S., it offers financial advice, insurance, health solutions, and global wealth and asset management services to over 37 million customers across 25 markets.
Through Manulife Wealth & Asset Management, the company delivers investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. Manulife trades under the ticker MFC on the Toronto, New York, and Philippine stock exchanges and as 945 on the Hong Kong stock exchange.
Average Trading Volume: 5,949,145
Technical Sentiment Signal: Buy
Current Market Cap: C$89.3B
See more data about MFC stock on TipRanks’ Stock Analysis page.
