BMO reopens dollar covered bonds

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BMO reopens dollar covered bonds

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June 25, 2018 - Vancouver, British Columbia, Canada - The Vancouver main branch of BMO Bank of Montreal (Credit Image: © Bayne Stanley via ZUMA Wire) | Bayne Stanley/Zuma Press/PA Images

Bank of Montreal (BMO) has issued the first Canadian covered bond in dollars this year, raising $1.75bn of funding at a cost that was equivalent to what it would have theoretically paid in the euro market. National Bank of Canada was quick to follow, announcing a similar deal at the same starting spread.

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