Bank of Montreal Closes SEC-Registered Offering of $2.25 Billion

July 13, 2018

S&C client Bank of Montreal (BMO) closed an SEC-registered offering of its senior medium-term notes, Series D, consisting of $1 billion aggregate principal amount of 3.100% senior notes due 2020 and $1.25 billion aggregate principal amount of floating rate notes due 2020.

BMO was founded in 1817 and has been a chartered bank under Canada's Bank Act since 1871. With total assets of C$743.6 billion as of April 30, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions.
S&C acted as U.S. counsel for BMO. BMO Capital Markets Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint bookrunning managers for the offering, which also involved eight co-managers.
The S&C team was led by Robert Buckholz, along with Conlon Danberg and Steven Mermelstein. Eric Wang and David Simins advised on tax matters. Jeffrey Hochberg and Dana Brodsky advised on ERISA matters.