BMO:CC - Bank of Montreal raises $750M through subordinated note issue

• Bank of Montreal ( NYSE: BMO ) announced a domestic public offering of $750M of 6.534% subordinated notes due 2032 through its Canadian Medium-Term Note Program.
• The net proceeds from this offering will be used for general banking purposes.
• Interest on notes will be paid semi-annually until October 27, 2027 and at Daily Compounded CORRA plus 2.70% thereafter (paid quarterly) until their maturity on October 27, 2032.
• The expected closing date is October 27, 2022.

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