LEXPERT MAGAZINE
|
MARCH/APRIL 2018 23
|
CORPORATE TRANSACTIONS OF IMPORTANCE
|
(securities and M&A), Lorna Cuthbert
and Shari Cohen (employment), Justine
Whitehead (IP), and Eric Lévesque and
Nicholas Grenier (tax) of Stikeman El-
liott LLP.
Breton Hill was represented by Sarbjit
Basra, Robin Upshall and Marc Pontone
(securities and M&A), Tim Baron (secu-
rities), and Raj Juneja and Kim Brown
(tax) of Davies Ward Phillips & Vine-
berg LLP.
Insurance Insurance
MANULIFE COMPLETES
FIRST ISSUANCE
OF A GREEN BOND
BY A LIFE INSURER
CLOSING DATE: NOVEMBER 21, 2017
On November 21, 2017, Manulife Finan-
cial Corporation (Manulife) completed an
offering in Singapore of SGD 500-million
principal amount of 3.00 per cent subordi-
nated notes due November 21, 2029 (the
Notes). e Notes will bear interest at a
fixed rate of 3.00 per cent until November
21, 2024, and thereaer at a rate of 0.832
per cent over the prevailing five-year SGD
Swap Rate.
e Notes are Manulife's first green
bond issuance, with an amount equal to
the net proceeds intended to be used to fi-
nance or re-finance, in part or in full, new
and/or existing Eligible Assets consistent
with Manulife's recently released Green
Bond Framework (the Framework), avail-
able on Manulife's website. e Framework
is aligned with the International Capital
Market Association's Green Bond Prin-
ciples 2017, and directs the use of proceeds
towards renewable energy, green buildings,
sustainably-managed forests, energy effi-
ciency, clean transport, sustainable water
management and/or pollution prevention
and control.
e Notes are the first green bond issu-
ance by a life insurance company and also
the first green bond issuance by a Canadian
issuer to be certified as Climate Bonds by
the Climate Bonds Initiative, an investor-
focused not-for-profit organization, pro-
moting large-scale investment in the low-
carbon economy.
DBS Bank Ltd., e Hongkong and
Shanghai Banking Corporation Limited,
Singapore Branch and Standard Chartered
Bank acted as joint lead managers.
e offering was made pursuant to an
offering circular dated November 14, 2017.
Manulife was represented by an in-house
team led by Eddy Mezzetta, Vice-President
and Chief Counsel, and Michael Ward,
Assistant Vice-President and Senior Coun-
sel. Jonathan Horan, Phill Hall and Samuel
Lee (corporate/securities) from Linklaters
Singapore Pte. Ltd.; and David Seville,
Robert Shaw and Michael Murphy (cor-
porate/securities), Blair Keefe (regulatory)
and Jerald Wortsman (tax) from Torys
LLP provided external support.
e joint lead managers were repre-
sented by Allen & Overy LLP with
a team that was composed of Jeremy
Stoupas, Aloysius Tan and Angela Liu
(corporate/securities).
For In-house Counsel...
Legal News at Your Fingertips
Sign up for the Canadian Legal Newswire InHouse edition today for free
and enjoy great content from the publishers of Canadian Lawyer, Law
Times, Canadian Lawyer InHouse and Lexpert.
THE LATEST NEWS
Keep abreast of essential
late-breaking legal news
and developments.
THE BEST COMMENTARY
Access trusted analysis and
opinion on the cases and
changes that are shaping
the legal landscape.
DELIVERED WEEKLY
Your profession can change
quickly, which is why you
need the freshest, most
recent information.
FOR READING ON
ANY DEVICE
Get the news and opinions
you need on any device.
Whether you read at work,
or on the go, the newswire
adapts to your screen.
Visit www.canadianlawyermag.com/newswire-subscribe
