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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 braincloudon Sep 05, 2016 12:24pm
130 Views
Post# 25208011

RE:RE:RE:$20 million USD in escrow acct in Canada

RE:RE:RE:$20 million USD in escrow acct in CanadaYou don't have any idea what the company is worth if the deal goes away! First I will point out that there aren't any drills operating currently so that means that production numbers will be declining about 15% . Secondly, their price for the oil they sell has dropped percentage wise because of slowing demand for the crude they produce. The only thing that BNK has going for it ( if the deal goes away) is their leverage to oil prices. So if you think that oil is headed back to the mid 60's then I suppose one could argue . I'd say the stock is headed back to $1.20-$1.30. It's really a moot argument because both parties will likely renegotiate the terms if September 30 comes and goes without SAFE approval. I will say again if oil heads higher there are plenty of fish in the sea. Keep your eyes open and take advantage of lower cost producers for better upside. Remember that if the deal goes away there will be plenty of speculation as to why which will weigh heavily on the SP. I don't think there's a white knight waiting in the wings. 


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