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Manufacturers Life Insurance to redeem subordinated debentures

Manufacturers Life Insurance Co. intends to redeem at par on Feb. 21 all of its outstanding C$500 million principal amount of 2.811% fixed/floating subordinated debentures due Feb. 21, 2024.

The debt is redeemable at a redemption price per debenture equal to par, together with accrued and unpaid interest to but excluding the date of redemption.

Interest on the debentures will cease to accrue on the redemption date.