{"id":29956,"date":"2015-07-29T22:04:00","date_gmt":"2015-07-30T03:04:00","guid":{"rendered":"http:\/\/prefblog.com\/?p=29956"},"modified":"2015-07-29T22:04:00","modified_gmt":"2015-07-30T03:04:00","slug":"bmo-pr-z-whacked-hard-on-light-volume-fire-sale-in-progress","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=29956","title":{"rendered":"BMO.PR.Z Whacked Hard On Light Volume; Fire Sale In Progress"},"content":{"rendered":"<p>Bank of Montreal <a href=\"http:\/\/newsroom.bmo.com\/press-releases\/bank-of-montreal-completes-150-million-preferred--tsx-bmo-201507291019120003\">has announced<\/a>:<\/p>\n<blockquote><p>it has closed its domestic public offering of Non-Cumulative Perpetual Class B Preferred Shares, Series 35 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Preferred Shares Series 35&#8221;). The offering was underwritten on a bought deal basis by a syndicate of underwriters led by BMO Capital Markets. Bank of Montreal issued 6 million Preferred Shares Series 35 at a price of $25 per share to raise gross proceeds of $150 million.<\/p>\n<p>The Preferred Shares Series 35 were issued under a prospectus supplement dated July 22, 2015, to the Bank&#8217;s short form base shelf prospectus dated March 13, 2014. Such shares will commence trading on the Toronto Stock Exchange today under the ticker symbol BMO.PR.Z.<\/p><\/blockquote>\n<p>Z is for Zombie. I have been advised that the underwriters aren&#8217;t wasting any time blowing it out of inventory &#8211; it&#8217;s being reoffered at 23.75.<\/p>\n<p>BMO.PR.Z is a Straight Perpetual, 5.00%, NVCC-compliant issue, <a href=\"http:\/\/prefblog.com\/?p=29845\">announced July 20<\/a>. It will be tracked by HIMIPref&trade; and has been assigned to the PerpetualDiscount sub-index.<\/p>\n<p>The issue traded 96,035 shares today in a range of 24.01-25 before closing at 24.00-01, 45&#215;98. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>BMO.PR.Z<\/td>\n<td>Perpetual-Discount<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2045-07-29<br \/>\nMaturity Price  : 23.67<br \/>\nEvaluated at bid price : 24.00<br \/>\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bank of Montreal has announced: it has closed its domestic public offering of Non-Cumulative Perpetual Class B Preferred Shares, Series 35 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Preferred Shares Series 35&#8221;). The offering was underwritten on &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-29956","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29956"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/29956\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}