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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

Post by Bobby99on Apr 01, 2016 9:12am
229 Views
Post# 24718993

from td.....

from td.....<div class="page" title="Page 2"> <div class="layoutArea"> <div class="column"> <p> <span style="font-size: 11.000000pt; font-family: 'TimesNewRomanPSMT'">Our main cautionary consideration is in relation to the acquirer&rsquo;s financing risk. We understand Geo-Jade is looking to raise funds through a private share placement as part of this deal and two other acquisitions they are executing concurrently. At this stage, based on the available information, we are unable to assess this risk. However, we rely on management&rsquo;s judgment as we do not expect they would have preceded this far without strong confidence in Geo-Jade&rsquo;s ability to close the deal&nbsp;</span></p> </div> </div> </div> <br />
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