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 > re-filing of Management's Discussion and Analysis

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Comment by cashtango00on Jan 28, 2016 8:02am

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Post# 24500731

RE:RE:re-filing of Management's Discussion and Analysis

just states if brent is at a certain price point, a loan covenant is breached, but the lender would adjust it. The one thing you can take away from those charts is the BNK was miles away from any debt covenant breach at the ned of Q3 based on their finances .. This is a non issue for now...

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