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 > Some here havent seen this before

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Comment by f_the_bankerson Mar 21, 2016 11:29am

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Post# 24683448

RE:Some here havent seen this before

i jumped in here at $1.88 and $1.86.

tdwaterhouse research report suggested the deal should be wrapped up by june. so 30 cents per share in approximately 3 months isn't bad. it's about 17% in 3 months.

i also think the deal WILL go through because there is a $20M break fee to the chinese if it does not. plus, the chinese often don't joke around when they make a take-over offer.

tdwaterhouse changed its recommendation from "speculative buy" to "tender" meaning shareholders should accept the bid based on their valuation and offer price.

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Cross border trading in Canada and Australia