Bank of Montreal has raised $1.38 billion from a two-part sale of bonds, The Wall Street Journal reports. The first tranche of $1.05 billion, carrying a coupon rate of 2.960%, is due to mature in August 2016.
The second tranche of $316.27 million, carrying a coupon rate of 4.609%, is due to mature in September 2025. The offering by the Canadian bank generated nearly twice the minimum amount of $738.01 million expected to be raised.
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