BAM Bam Groep (Kon)

RNS No 9947x
BANK OF MONTREAL 
24th March 1998

       BANK OF MONTREAL ANNOUNCES NEW ISSUE OF SUBORDINATED NOTES

TORONTO, March 24, 1998 - Bank of Montreal today announced that it has agreed to
issue U.S.$350 million of subordinated debt issue under its Euro Medium Term
Note Program, established in 1996.  The 10-year-step-up Callable USD Floating
Rate Subordinated Notes will be issued on or about April 8, 1998, and will
mature in April 2008.  The interest coupon will be payable quarterly at a
floating rate equal to three-month USD Libor plus 30 basis points per annum
until the interest payment date falling in April 2003, on which date the
Subordinated Notes may be redeemed at the option of the bank, subject to
regulatory approval.  If the Subordinated Notes are not redeemed, interest will
be payable at a floating rate equal to three-month USD Libor plus 135 basis
points per annum for the five years remaining until maturity.

The issue of Subordinated Notes will add to the bank's Tier 2 capital base.
Bank of Montreal, Nesbitt Burns International and Goldman Sachs International of
London, England, have been appointed as co-lead managers of the issue.  The
offer or sale of the Subordinated Notes in Canada or the United States is
restricted.

Bank of Montreal, Canada's first bank, is a highly diversified financial
services institution with average assets of $224 billion.  The bank's group of
companies include Nesbitt Burns, one of Canada's largest full-service investment
firms, Chicago based Harris Bank, a major U.S. Mid-West financial institution
and mbanx, the first North American-wide virtual banking unit.  Bank of Montreal
has an equity position in, and an alliance with, Grupo Financiero Bancomer, the
leading Mexican financial institution.

Contacts:
Rick Kuwayti, Toronto,  (416) 927 2740
Ronald Monet, Montreal (514) 877 1101

Internet: http://www.bmo.com

END

MSCSEMSMIUAUFDD

Bam Groep (Kon) (LSE:BAM)
Historical Stock Chart
From Jun 2024 to Jul 2024

Bam Groep (Kon) (LSE:BAM)
Historical Stock Chart
From Jul 2023 to Jul 2024