By William Gullotti
Buffalo, N.Y., Oct. 25 – Bank of Montreal priced $94 million of floating rate senior notes due 2027 at par, according to a notice on Tuesday.
The Regulation S floaters are issued under the bank’s $20 million note issuance program and will pay interest at SOFR plus 120 basis points.
The notes are non-callable but feature a put option that may be exercised on April 26, 2023.
Daiwa Capital Markets Europe Ltd. is the dealer.
Application has been made to list the notes on the London Stock Exchange effective Oct. 26.
Bank of Montreal is a Montreal-based banking and financial services provider.
| Issuer: | Bank of Montreal
|
| Amount: | $94 million
|
| Issue: | Floating-rate senior notes, series 299
|
| Maturity: | Oct. 26, 2027
|
| Dealer: | Daiwa Capital Markets Europe Ltd.
|
| Coupon: | SOFR plus 120 bps
|
| Price: | Par
|
| Yield: | SOFR plus 120 bps
|
| Put option: | On April 26, 2023 at the fair market value, plus or minus unwind costs
|
| Trade date: | Oct. 24
|
| Settlement date: | Oct. 26
|
| Listing date: | Oct. 26
|
| Distribution: | Regulation S
|
| ISIN: | XS2547555594
|
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