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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.


TSX:BNK - Post by User

Big Banc Split Corp > re-filing of Management's Discussion and Analysis
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Comment by good40on Jan 29, 2016 2:43pm
135 Views
Post# 24506610

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

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:re-filing of Management's Discussion and AnalysisGood post wallop13, thanks for that effort. Mustn't forget that they've just re-filed their 9 month MD&A showing that a certain percentage of the tranche 2 revolving line might have to be repaid and that the other fully utilized $20mm loan may become repayable in March.

One other point is the tax dispute. Given the Albanians have announced that they intend to rewrite
the oil contracts guaranteeing upfront monies... a favorable outcome to this dispute might also include a continuation of payments of $4.275mm per month with payments allocated towards future
liability.

While I don't believe they are currently in danger of sinking out of sight, I do believe that the lower price of oil, the decline of production, the battle with Albania and the risks with finance make 2016 a difficult year. However, it's your money. Best of luck.
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