Bank of Montreal completes $250 million preferred share offering
Date Closed
April 2, 2008
Lead Office
Toronto
Value
250.00 Million CAD
On April 2, 2008, the Bank of Montreal issued C$250 million of Non-Cumulative Perpetual Class B Preferred Shares Series 15. The offering will be underwritten on a bought deal basis by a syndicate led by BMO Capital Markets. The Bank has granted to the underwriters an option to purchase up to an additional C$50 million of the Preferred Shares Series15 exercisable at any time up to two days before closing.
The Preferred Shares Series 15 will be issued to the public at a price of C$25.00 per Preferred Share Series 15 and holders will be entitled to receive non-cumulative preferential fixed quarterly dividends for those shares.
McCarthy Tétrault LLP advised the Bank of Montreal with a team led by Andrew Parker.
