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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

Big Banc Split Corp > As expected
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Comment by braincloudon Aug 11, 2016 9:25am
190 Views
Post# 25130084

RE:RE:As expected

RE:RE:As expectedHypothetically speaking lets say that SAFE doesn't approve the deal by September end, will BNK be happy to take the paltry $20 million? What if oil prices are weak at that time? My bet is that they revise the deal yet again and offer an extension and or some money. If oil is on a rip then they gas the deal and we move on. It is a possibility IMO. Even the insiders that bought stock have to be thinking that way. They don't want to take a hit on their positions. It's like a put option that doesn't have an expiry date.
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