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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Comment by LordIskanderon Dec 15, 2015 4:46pm

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Post# 24386191

RE:RE:RE:RE:news

Yes sir!

Here are my notes

Expert mediation was delayed because Bankers was 'finalizing regional and staffing requirements
BNK expects to actually pay 3/4 of the $52MM tax assessment and fully expects to be vindicated meaning that that money will be paid in lieu of upcoming royalties.
There was some question of the Reiffeisen line of credit (revolver) and whether the bank would elect to roll it again. BNK thinks that since they did so in 2009 there's no reason why they should not do this again.
Rigs will be parked until Q2/16 or will be 'triggered' at Brent $46 and Brent $50
Brent $40 still means double digit margins
Brent $30 = $7 margin