Manulife Floating Rate Senior Loan Fund Announces Monthly Distribution and Anticipated Monthly Distributions for Class A and Class U Units

TSX/NYSE/PSE: MFC  SEHK:945

TORONTO, April 19, 2016 /CNW/ - Manulife Floating Rate Senior Loan Fund (the "Fund") (TSX:MFR.UN) announced today that a monthly cash distribution in the amount of C$0.05625 per Class A Unit of the Fund and US$0.05625 per Class U Unit of the Fund, will be paid on May 13, 2016 to unitholders of record as of April 29, 2016.

A unitholder who has continually held units since inception will have received a total of C$2.26065 per Class A Unit and US$2.28711 per Class U Unit as of the payment date.

Also announced today, the Fund's anticipated monthly cash distribution for the 12-month period starting June 1, 2016 will be C$0.05625 per Class A Unit (or C$0.675 per annum) or US$0.05625 per Class U Unit (or US$0.675 per annum).

The Fund determines annually its anticipated monthly distribution target for the following year. The distribution rate for June 1, 2016 to May 31, 2017 was determined based upon prevailing market conditions and the Manager's estimate of distributable cash flow for the next 12 months. This represents an annual yield of 8.57% for Class A Units, based on a market price of $7.88 per unit on March 31, 2016.

For more information, please contact Manulife Customer Service at 1-888-333-3240.

About Manulife Investments
Manulife Investments, a division of Manulife Asset Management Limited, builds on 125 years of Manulife's wealth and investment management expertise in managing assets for Canadian investors. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.

About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife, providing comprehensive asset management solutions for investors. This investment expertise extends across a broad range of public and private asset classes, as well as asset allocation solutions. As at December 31, 2015, assets under management for Manulife Asset Management were approximately C$417 billion (US$301 billion).

Manulife Asset Management's public markets units have investment expertise across a broad range of asset classes including public equity and fixed income, and asset allocation strategies.  Offices with full investment capabilities are located in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines. In addition, Manulife Asset Management has a joint venture asset management business in China, Manulife TEDA. The public markets units of Manulife Asset Management also provide investment management services to affiliates' retail clients through product offerings of Manulife and John Hancock. John Hancock Asset Management and Declaration Management and Research are units of Manulife Asset Management.

Additional information about Manulife Asset Management may be found at ManulifeAM.com.

About Manulife
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions.  We operate as John Hancock in the United States, and Manulife elsewhere.  We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions.  At the end of 2015, we had approximately 34,000 employees, 63,000 agents, and thousands of distribution partners, serving 20 million customers.  At the end of December 2015, we had $935 billion (US$676 billion) in assets under management and administration, and in the previous 12 months we made more than $24.6 billion in benefits, interest and other payments to our customers.  Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years.  With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.  Follow Manulife on Twitter @ManulifeNews or visit www.manulife.com or www.johnhancock.com.

SOURCE Manulife Financial Corporation

Media contact: Bev MacLean, Manulife, [email protected], 416-852-8501, @ManulifeNews; For Closed-end fund inquiries: 1-888-333-3240, Monday - Friday 8am to 8pm EST, [email protected]