By Cristal Cody
Tupelo, Miss., April 10 – Bank of Montreal (A1/A+/AA-) priced a $2.25 billion two-part offering of three-year senior medium-term notes on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The $750 million tranche of three-year floating-rate notes priced at par to yield Libor plus 46 basis points.
The bank sold $1.5 billion of 3.1% three-year fixed-rate notes at 99.883 to yield 3.141%, or 70 bps over Treasuries.
BMO Capital Markets Corp., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be contributed to the general funds of the bank and used for general corporate purposes.
Bank of Montreal is a Montreal-based banking and financial services provider.
| Issuer: | Bank of Montreal
|
| Amount: | $2.25 billion
|
| Description: | Series D senior medium-term notes
|
| Bookrunners: | BMO Capital Markets Corp., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC
|
| Co-managers: | BNP Paribas Securities Corp., Commerz Markets LLC, Credit Agricole Securities (USA) Inc., Desjardins Securities Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and BofA Merrill Lynch
|
| Trade date: | April 10
|
| Settlement date: | April 13
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Description: | Floating-rate notes
|
| Maturity: | April 13, 2021
|
| Coupon: | Libor plus 46 bps
|
| Price: | Par
|
| Yield: | Libor plus 46 bps
|
| Call features: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Maturity: | April 13, 2021
|
| Coupon: | 3.1%
|
| Price: | 99.883
|
| Yield: | 3.141%
|
| Spread: | Treasuries plus 70 bps
|
| Call features: | Non-callable
|
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