Bank of Montreal is offering US$1.25 billion of its 3.803% subordinated notes.
The notes, which mature Dec. 15, 2032, will pay interest semiannually, beginning June 15, 2018.
BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and UBS Securities LLC serve as the offering's joint book-running managers. HSBC Securities (USA) Inc., Merrill Lynch Pierce Fenner & Smith Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Desjardins Securities Inc. are co-managers.
BMO estimates net proceeds at US$1.24 billion.
