Bank of Montreal to sell fixed-to-floating notes due 2027

By Devika Patel

Knoxville, Tenn., Jan. 19 – Bank of Montreal intends to price senior fixed-to-floating rate notes due 2027, according to a 424B2 filed with the Securities and Exchange Commission.

Interest will accrue at a fixed rate until 2026 and at a rate based on SOFR after that.

The notes are callable with a make-whole call until 2026, at which point the notes will be callable at par.

BMO Capital Markets Corp., BofA Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. are the bookrunners.

Proceeds will be used for general corporate purposes.

Bank of Montreal is a Montreal-based banking and financial services provider.

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