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 > Info from jeo-jade

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Post by Bnkdealon Jul 27, 2016 2:09am

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Info from jeo-jade

Just called chinese jeo jade, they said money is all ready, waiting for safe approval, still not approved yet. So tomorrow morning, will be no updates. Safe is more restrict than ever for this period of time, and it takes much longer than usual. They have person in shanghai Safe for follow up. I will call them again tomorrow morning chinese time. And they said they won't give up the deal. This is what I got from the phone call.

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