Bank of Montreal to redeem USD500m subordinated debentures.
Global Banking News-March 24, 2015--Bank of Montreal to redeem USD500m subordinated debentures
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Global Banking News - 24 March 2015
Bank of Montreal (TSX: BMO) (NYSE:BMO) has said that on April 22, 2015, it will redeem all of its outstanding USD500m subordinated debentures, Series C Medium-Term Notes Second Tranche due April 22, 2020.
The debentures are redeemable at Bank of Montreal's option from April 22, 2015, at a redemption price of 100 percent of the principal amount plus unpaid accrued interest to the redemption date.
Payment of the redemption price will be made by Bank of Montreal on or after April 22, 2015, upon surrender of the debentures.
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