Canada's Manulife sets final guidance for Singapore dollar Tier-2 bond at 2.88%; orders top $1 billion

SINGAPORE, ‌May 26 (Reuters) - Canadian insurer Manulife Financial Corp has ⁠set final price guidance at 2.88% for ⁠a 10-year Singapore ​dollar-denominated subordinated Tier-2 bond with a non-call period of five years, according to an updated term sheet on ​Tuesday.

Here ‌are a few details:

* The final price guidance for the offering was set at 2.88%, tightening from initial price guidance of about ​3.20%, according to the term sheet.

* The deal size ‌was not disclosed.

* Order books exceeded S$1.35 billion ($1.06 billion), including S$30 million ‌of interest from the joint lead managers, according to an updated note after the term sheet.

* The ​notes will be callable from June 4, 2031, subject ‌to regulatory approval, and are expected to receive an A- rating by S&P Global Ratings.

* Proceeds from the ⁠bond ⁠sale will be used for ‌general corporate purposes, including investments in subsidiaries and potential future redemptions of ​existing ​securities.

* DBS, HSBC, and Standard ‌Chartered are the joint lead managers and bookrunners.

HSBC Holdings

Standard Chartered