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 pix4dddon Oct 27, 2015 11:23am

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Post# 24230435

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Back in @2.31

The problem with BNK is :
1) production declining quarter after quarter. We were at 22'000bpd at Q3 2014 and last quarter we were at 19'500bpd. At this space we will produce 15'000bpd in 1.5-2 years.
2) their net debt is increasing quarter after quarter. Last quarter bankers had $40MM cash and $120MM debt. It makes a net debt of $80MM. The net debt is increasing over time

So the more oil stay at $40 (1-2-3-4 years) the more BNK will be in dire situation with production decreasing and net debt increasing. And the worst is to come next year when a big part of the hedge end.

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