Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

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Big Banc Split Corp

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Post by tinman8on Jul 07, 2009 3:15pm

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Post# 16122176

Ist Loan condition will be met next week -

Brent above $55 for 45 consecutive - is the first condition to be met for the first $50 million loan to become available.
According to my calculations, and assuming it means consecutive business/market days, then given the announcement by BNK was on May 11th and discounting weekends and statuary holidays where the market was closed - it looks like the condition will be met by tuesday or wednesday next week.

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