09:52 AM EST - Manulife Financial Corp. : is issuing $2.125 billion in new common shares to bolster its capital position. The stock is priced at $19.40 per share. Manulife said Tuesday that eight institutional investors are buying $1.125 billion worth of shares in a private placement, and $1 billion will be issued to the public through a bought deal with a syndicate of underwriters. At the same time, Manulife said it will reduce a credit facility arranged last month with Canadian banks to $2 billion from $3 billion. Manulife Financial Corp.
shares T.MFC are trading down $1.06 at $19.40.
