S&C Advises Bank of Montreal in $1 Billion Registered Limited Recourse Capital Notes Offering

By rw-admin | August 11, 2025 |

Sullivan & Cromwell LLP acted for Bank of Montreal (BMO) in the closing an SEC-registered offering of $1 billion of 6.875% Fixed Rate Reset Limited Recourse Capital Notes, Series 6 (LRCNs) due November 26, 2085. BMO concurrently issued 1,000,000 Non-Cumulative 5-Year Fixed Rate Reset Class B Preferred Shares, Series 55 (Non-Viability Contingent Capital (NVCC)) to be held by Computershare Trust Company of Canada, as trustee for BMO LRCN Trust.

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