Bank of Montreal has announced (apparently on April 3, but there was nothing on their website until April 5):
its intention to redeem all of its $250,000,000 Non-Cumulative Perpetual Class B Preferred Shares, Series 15 (“Preferred Shares Series 15”) on May 25, 2017.
The Preferred Shares Series 15 are redeemable at Bank of Montreal’s option on or after May 25, 2017, at a redemption price of $25.00 per share. Payment of the redemption price will be made by Bank of Montreal on or after May 25, 2017, upon surrender of the Preferred Shares Series 15.
Separately from the payment of the redemption price, the final quarterly dividend of $0.3625 per share for the Preferred Shares Series 15 will be paid in the usual manner on May 25, 2017, to shareholders of record on May 1, 2017.
Notice will be delivered to holders of the Preferred Shares Series 15 in accordance with the terms outlined in the Preferred Shares Series 15 prospectus supplement.
BMO.PR.L is a 5.80% Straight Perpetual that commenced trading 2008-4-2 after being announced 2008-3-25. It has been tracked by HIMIPref™ and as it is NVCC non-compliant, it is included in the DeemedRetractible sub-index.
This entry was posted on Wednesday, April 5th, 2017 at 9:56 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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BMO.PR.L To Be Redeemed
Bank of Montreal has announced (apparently on April 3, but there was nothing on their website until April 5):
BMO.PR.L is a 5.80% Straight Perpetual that commenced trading 2008-4-2 after being announced 2008-3-25. It has been tracked by HIMIPref™ and as it is NVCC non-compliant, it is included in the DeemedRetractible sub-index.
This entry was posted on Wednesday, April 5th, 2017 at 9:56 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.