Bank of Montreal Issues $1 Billion Subordinated Notes

MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) has released an update.

The Bank of Montreal has launched a public offering of $1 billion in subordinated notes with a fixed interest rate of 4.976% until July 2029, switching to a rate based on the Daily Compounded CORRA plus 1.63% until July 2034. The offering, intended to enhance the Bank’s general funds for various banking activities, may also facilitate the redemption of capital securities or repayment of other liabilities. These notes are not registered under the U.S. Securities Act and are not for sale in the U.S. or where prohibited by law.

For further insights into BULZ stock, check out TipRanks’ Stock Analysis page.