Canadian Banc Corp T.BK

Alternate Symbol(s): CNDCF | T.BK.PR.A

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.

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Canadian Banc Corp > BK update shows 28% cash @ Jan 31

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Post by mousermanon Feb 07, 2023 5:14pm

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Post# 35273035

BK update shows 28% cash @ Jan 31

So guessing at the UNIT NAV may not be real acurate but will give it a go.
I have the UNIT NAV gaining about 32 cents given the holdings movement. And i do believe the offering will add about 10 cents to that...if my math is right.
SO UNIT NAV today I am guessing is about $21.80 or about $11.80 for commons
With the last trade @ $13.58 , BK trading at a very reasonable valuation here under 2$ premium.
Works out 15% premium here. Once underwriters selling is done, and they cover... i believe it will head higher towards the month end. Especially if we see downturn in the markets and a few of the bubble riding split funds dive below 15$ UNIT NAV.

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