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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 > What's the deal worth ?
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Post by good40on Mar 21, 2016 10:19am
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Post# 24683048

What's the deal worth ?

What's the deal worth ?They've offered $2.20 per share... with this qualifier,

The Arrangement values Bankers at approximately C$575 million before the assumption of the outstanding indebtedness of Bankers.

If debt was included, wouldn't it have said " after " the assumption of outstanding indebtedness ?

If it does not include debt, then subtract US$ 120 million plus what is to be determined from the tax dispute.

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