Manulife Floating Rate Senior Loan raises $250 million for investments

By Susanna Moon

Chicago, May 17 - Manulife Investments said the Manulife Floating Rate Senior Loan Fund completed its initial public offering of units for proceeds of $250 million for investment purposes.

The fund has been created to invest in an actively managed portfolio composed primarily of investments in senior floating-rate loans and, to a lesser extent, short-duration debt securities, according to a company press release.

Manulife Asset Management Ltd. is the manager and investment manager of the fund. The portfolio will be actively managed by Manulife Asset Management (US) LLC.

The fund sold 23,063,949 class A units and 1,936,051 class U units at $10.00 each.

Manulife is a Toronto-based financial services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.