Updates with order book size in third bullet

SINGAPORE, May 26 (Reuters) - Canadian insurer Manulife Financial Corp MFC.TO has launched a 10-year Singapore dollar-denominated subordinated Tier-2 bond with a non-call period of five years, according to a term sheet on Tuesday.

Here are a few details:

• The initial price guidance for the offering was set at about 3.20%, according to the term sheet.

• While the exact deal size was not disclosed, the issuance is expected to be benchmark-sized, according to the sheet.

• Order books for the deal exceeded S$1 billion ($783.15 million), including S$30 million of interest from the joint lead managers, according to a 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 DBSM.SI, HSBC HSBA.L, and Standard Chartered STAN.L are the joint lead managers and bookrunners.

($1 = 1.2769 Singapore dollars)