By Andrea Heisinger
New York, April 4 - The Bank of Montreal sold $1.35 billion of five-year senior medium-term notes, series B, (Aa3/A+/AA-) in two parts on Thursday, a source away from the trade said.
A $350 million tranche of five-year floating-rate notes priced at par to yield Libor plus 60 basis points.
There was $1 billion of 1.45% five-year notes sold at 99.794 to yield 1.493% with a spread of Treasuries plus 80 bps.
The tranche of floating-rate notes was added to the sale on reverse inquiry, a source said.
Bookrunners were BMO Capital Markets Corp., J.P. Morgan Securities LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc. and Wells Fargo Securities LLC.
Proceeds will be contributed to the bank's general funds for general corporate purposes.
BMO was last in the U.S. bond market with a $2 billion sale in two maturities on Nov. 1, 2012.
Bank of Montreal is a financial services company based in Toronto and Montreal.
| Issuer: | Bank of Montreal
|
| Issue: | Senior medium-term notes, series B
|
| Amount: | $1.35 billion
|
| Bookrunners: | BMO Capital Markets Corp., J.P. Morgan Securities LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc., Wells Fargo Securities LLC
|
| Trade date: | April 4
|
| Settlement date: | April 9
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Five-year floaters
|
| Amount: | $350 million
|
| Maturity: | April 9, 2018
|
| Coupon: | Libor plus 60 bps
|
| Price: | Par
|
| Yield: | Libor plus 60 bps
|
|
|
| Five-year fixed-rate notes
|
| Amount: | $1 billion
|
| Maturity: | April 9, 2018
|
| Coupon: | 1.45%
|
| Price: | 99.794
|
| Yield: | 1.493%
|
| Spread: | Treasuries plus 80 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
