BMO ends Canadian euro drought

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By Jasper Cox
19 Oct 2017

Bank of Montreal (BMO) became the first Canadian name to issue a covered bond in euros since March with a €1.5bn trade on Thursday.

Bank of Montreal came to the market with a €1.5bn long five year covered bond, backed by Canadian residential mortgages, with final terms set at 4bp through mid-swaps.

The soft bullet deal matures in January 2023. Guidance was set flat to mid-swaps, then revised to 4bp through mid-swaps. ...

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