$400M BMO BOaTS Sold

The Bank of Montreal (BMO) sold $400 million of Trust Capital Securities-Series B (BMO BOaTS), in an offering that closed on March 13, 2001. The offering provides BMO, as the holder of certain securities of BMO Capital Trust—a closed-end unit trust—with a method of raising Tier 1 capital for Canadian bank regulatory purposes.

The Osler, Hoskin & Harcourt LLP team for BMO and BMO Capital Trust was comprised of Debbie Alexander, Jim Lisson, Rick Fullerton and Michael Hart. Brian P. Philbrook is BMO’s in-house counsel. Jeff Barnes, Heather Zordel and Dan Dishy of Fraser Milner Casgrain LLP represented the underwriting syndicate led by BMO Nesbitt Burns Inc.