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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 > This is NOT a done deal
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Post by gamefanon Sep 11, 2016 2:14pm
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Post# 25226323

This is NOT a done deal

This is NOT a done dealSAFE has never been a problem for this deal but the funds. The funds by now have not been raised and they come from several organitional investors. If one of the investors had no enough time to raise the money, the deal might be delayed again. That's the risk right now. The market over-reacted the SAFE pass with closed price 2.17. It is too high comparing to the risk. Anything can be happened in 3 weeks. Good luck !

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