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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Comment by tinman8on Feb 10, 2011 9:17am

556 Views

Post# 18108019

RE: Gentlemen, don't mean to quibble,

I think an eventual buyout will be at least 30% over whatever the range for the SP has been at the time an offer comes.
I would be very surprised if we dont see an SP well in excess of $10 over the next few months - and longer term higher still.
Even a SP of say $10.75 would attract an offer of $14 therefore IMHO $14 represents an absolute minimum with a higher buyout than $14 very likely.
GLA

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