BOSTON, Feb. 1 /PRNewswire-FirstCall/ -- John Hancock Patriot Premium Dividend Fund II , John Hancock Preferred Income Fund , John Hancock Preferred Income Fund II , John Hancock Preferred Income Fund III , John Hancock Tax-Advantaged Dividend Income Fund , John Hancock Income Securities Trust and John Hancock Investors Trust (collectively "John Hancock Closed-End Funds"), today announced their credit facility providers.
By July 2008, in response to illiquidity in the auction-rate securities market, seven John Hancock Closed-End Funds that utilized leverage through Auction Rate Preferred Shares ("ARPS") redeemed 100 percent of their outstanding ARPS and replaced this form of leverage with debt.
Six of the John Hancock Closed-End Funds, John Hancock Patriot Premium Dividend Fund II, John Hancock Preferred Income Fund, John Hancock Preferred Income Fund II, John Hancock Preferred Income Fund III, John Hancock Tax-Advantaged Dividend Income Fund, and John Hancock Income Securities Trust utilize debt leverage through a Committed Facility Agreement in place with a subsidiary of BNP Paribas ("BNP"). BNP is a European leader in global banking and financial services. BNP has a presence in 85 countries and more than 205,000 employees, with core businesses in Retail Banking, Corporate & Investment Banking, and Investment Solutions.
John Hancock Investors Trust, the seventh John Hancock Closed-End Fund that utilizes debt leverage, has a Credit Facility Agreement in place with State Street Bank and Trust Company, which is a subsidiary of State Street Corporation ("State Street"). State Street is one of the world's leading providers of financial services to institutional investors. State Street's range of services spans the entire investment spectrum, including research, investment management, trading services and investment servicing. State Street has over 27,000 employees, with operations in 25 countries, covering all major investment centers.
Additional information about the John Hancock Closed-End Funds or their use of leverage can be found in the John Hancock Closed-End Funds' annual and semi-annual shareholder reports. The John Hancock Closed-End Funds' shareholder reports are available on the Funds' website at http://www.jhfunds.com/.
About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds, manages more than $50.5 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at September 30, 2009.
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$437 billion (US$407 billion) at September 30, 2009.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at http://www.manulife.com/.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at http://www.johnhancock.com/.
John Hancock Funds
CONTACT: Media Contact: Jay Aronowitz, +1-617-663-2702, Investor
Contact: 1-800-843-0090
Web Site: http://www.jhfunds.com/
