{"id":6854,"date":"2009-06-10T16:32:09","date_gmt":"2009-06-10T20:32:09","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=6854"},"modified":"2009-06-10T16:32:09","modified_gmt":"2009-06-10T20:32:09","slug":"new-issue-bmo-fixedreset-540241","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=6854","title":{"rendered":"New Issue: BMO FixedReset 5.40%+241"},"content":{"rendered":"<p>Issue: Non-Cumulative 5-Year Rate Reset Class B Preferred Shares Series 23<\/p>\n<p>Size: 8-million shares (=$200-million) + greenshoe 3-million shares (=$75-million)<\/p>\n<p>Dividends: 5.40% (=$1.35 annually); reset to 5-Year Canadas + 241bp each Reset Date. First dividend lovely and fat at $0.58808 payable November 25, 2009, assuming a June 19 close.<\/p>\n<p>Reset Dates: February 25, 2015 and every five years thereafter.<\/p>\n<p>Convertable: By holder every Reset Date to and from Series 24, which pay 3-month bills +241bp, reset quarterly.<\/p>\n<p>Redeemable: Every Reset Date at $25.00. Series 24 is redeemable every Reset Date at $25 and at $25.50 at all other times.<\/p>\n<p><a href=\"http:\/\/www2.bmo.com\/news\/article\/0,1083,contentCode-8729_divId-3_langId-1_navCode-212,00.html\">BMO Press Release<\/a>.<\/p>\n<p><b>Update<\/b>: I am advised on good authority that the size of the deal has been increased to 14-million shares (=$350-million) with a 2-million share greenshoe (=$50-million).<\/p>\n<p><b>Update, 2009-6-19<\/b>: <a href=\"http:\/\/www2.bmo.com\/news\/article\/0,1083,contentCode-8740_divId-3_langId-1_navCode-212,00.html\">Press Release<\/a> confirming the size increase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Issue: Non-Cumulative 5-Year Rate Reset Class B Preferred Shares Series 23 Size: 8-million shares (=$200-million) + greenshoe 3-million shares (=$75-million) Dividends: 5.40% (=$1.35 annually); reset to 5-Year Canadas + 241bp each Reset Date. First dividend &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-6854","post","type-post","status-publish","format-standard","hentry","category-new-issues"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6854","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=6854"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6854\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}