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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

Comment by baskcha1on Jun 21, 2016 3:08pm
134 Views
Post# 24984562

RE:RE:time for an update here

RE:RE:time for an update hereDon't worry, it's just a u of o grad. In fact, doubts from a u of o grad may be the best reassurance yet that this deal will go through. As far as financing confirmation from geo-jade, they aren't even the one's buying the company - it's an affiliate of geo jade, some private Chinese company. They happen to own a lot of geo-jade shares, hence the affiliation. a private company does not have to announce financing is in place, you either assume it's not and sell or assume it's in place and stick around for the 10%. No bad news yet, so that's good news. not like LRE, where the buyer delayed things twice. The buyer for BNK has not requested any delays. assuming the BNK board is in contact with the buyer, bnk should have bailed if there were problems. they have not- I'll take that as a positive. no news is not bad news.
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