BMO taking indications of interest for bail-in benchmark Kangaroo deal

Bank of Montreal (BMO) (A+/Aa2/AA-) began taking indications of interest for an inaugural bail-inable, five-year benchmark Kangaroo deal on 9 July. The transaction will be offered in either or both fixed- and floating-rate formats with initial price guidance of 105 basis points area over swap benchmarks. The notes are expected to be rated A-/A2/AA-.