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 > application to Investment Canada has been filed

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Post by uogradon Apr 20, 2016 7:09pm

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Post# 24791462

application to Investment Canada has been filed

According to the info circ it was filed April 13 and the government has 45 days to make a decision. They are hoping to close on June 30th. I was hoping it would be sooner but the main thing is to get it closed.

The strong run of the Canadian dollar lately will be a benefit on this deal which is always good.

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