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 > Look Gibbons - facts are fun

<< Previous

Bullboard Posts

Next >>

Comment by gibbonsjon Aug 25, 2016 12:36pm

70 Views

Post# 25176467

RE:Look Gibbons - facts are fun

Quant: That is s pretty skinny statement, there are always conditions attached such as who is responsible for SAFE delays. This is a very rich deal for BNK do not think that management/insiders want the $20M break fee over the buyout. There is only one deal on the table. The alternative is to collect the $20m fee and watch sp crater to sub $1 and then a year later close the doors.

<< Previous

Bullboard Posts

Next >>

How to navigate the ups and downs of investing in AI