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- Bank of Montreal (NYSE:BMO) announced a domestic public offering of $1B of subordinated note through its Canadian medium-term note program.
- The net proceeds from this offering will be added to the general funds of the Bank and will be utilized for general banking purposes.
- The notes bear interest at a fixed rate of 4.976% per annum (paid semi-annually) until July 03, 2029, and at Daily Compounded CORRA plus 1.63% thereafter (paid quarterly) until their maturity on July 03, 2034.
- The expected closing date is July 03, 2024.
- BMO Capital Markets is acting as lead agent on the issue.
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