BMO jumps into Aussie dollars with third Kangaroo covered

Cabei, Kangaroo, Australia, LatAm
By Bill Thornhill
08 Apr 2020

Bank of Montreal (BMO) on Tuesday became the third Canadian covered bond issuer to take advantage of an improvement in Aussie dollar issuance conditions following a relaxation in the Reserve Bank of Australia’s repo requirements.

BMO attracted an A$2.28bn order book for its A$2bn three year covered bond, which was launched on Tuesday night at 120bp over three month BBSW through joint lead managers, BMO Capital Markets, Commonwealth Bank of Australia, National Australia Bank, UBS and Westpac.

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