Manulife Financial Corporation, a big insurance and financial services company, has announced plans to borrow money by selling special bonds in Singapore. According to their press release on May 26, 2026, they will issue S$500 million worth of subordinated notes (a special type of bond) that will last until 2036.

What Are These Bonds?

Think of bonds like IOUs – when a company sells bonds, they’re essentially borrowing money from investors and promising to pay it back later with interest (extra money as a thank you for lending). These particular bonds are called “subordinated notes,” which means if Manulife ever runs into serious financial trouble, these bondholders would get paid back after other lenders, but before regular shareholders.

How the Interest Works

The bonds will pay investors 2.880% interest every year until June 4, 2031. After that date, the interest rate changes to a flexible rate – it will be 0.931% plus something called the “five-year SORA OIS rate” (a benchmark interest rate used in Singapore). The bonds will fully mature, or end, on June 4, 2036.

Early Payback Option

Manulife has the option to pay back these bonds early starting June 4, 2031, but only if they get permission from Canada’s financial regulator (the Superintendent of Financial Institutions). If they choose to do this, they would pay back the full amount plus any interest owed up to that point.

Why Is Manulife Doing This?

These notes will count as “Tier 2 capital” for Manulife. This is important because financial companies like Manulife need to maintain certain levels of capital (money reserves) to show regulators and customers that they’re financially strong and stable. It’s like having a safety cushion.

Where Will These Bonds Trade?

The Singapore Exchange Securities Trading Limited (SGX-ST) has given preliminary approval for these bonds to be listed and traded on their exchange. This means investors will be able to buy and sell these bonds on the Singapore stock exchange.

Who’s Helping with the Sale?

Several major banks are helping Manulife sell these bonds: DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited (Singapore Branch), and Standard Chartered Bank (Singapore) Limited are the main organizers. Bank of China Limited (Singapore Branch) is also helping as a co-manager.

When Will This Happen?

The sale is expected to be completed on June 4, 2026.

Who Can Buy These Bonds?

These bonds are not available to people in the United States or Canada. They’re only being offered to international investors outside these countries.

About Manulife

Manulife Financial Corporation is a large international insurance and financial services company based in Toronto, Canada. The company operates under the name “Manulife” in Canada and Asia, and as “John Hancock” in the United States. They provide insurance, health solutions, investment management, and retirement planning services.

As of the end of 2025, Manulife had more than 37,000 employees, over 106,000 agents, and served over 37 million customers across 25 markets worldwide. The company is publicly traded on the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE), and Philippine Stock Exchange (PSE) under the ticker symbol “MFC,” and on the Hong Kong Stock Exchange under the number “945.”

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.