Manulife Financial Corp. plans to issue $900 million of medium term notes, the company said Tuesday.

The medium term notes, to be offered on a best efforts basis through an agency syndicate led by RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc., are expected to be issued on August 20. The notes will pay a fixed rate of 4.0795 until maturity on August 20, 2015.

The net proceeds of the offering will be utilized for general corporate purposes of the company, including investments in subsidiaries, Manulife (TSX:MFC)says.

IE