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Manufacturers Life Insurance to redeem subordinated debentures

Manufacturers Life Insurance Co. intends to redeem at par on Nov. 29 all of its outstanding C$250 million principal amount of 2.926% fixed/floating subordinated debentures due Nov. 29, 2023.

The debt is redeemable at a redemption price per debenture equal to par, along with accrued and unpaid interest to but excluding the date of redemption. Interest on the debentures will cease to accrue on the redemption date.