Financial 15 Split Corp T.FTN

FTN unit NAV $17.72 to June 28

[mouserman]

FTN has lost about  20 cents since the mid-month update and so the commons  would now have a value of $7.72 before distributions. After distributions to preferreds and commons of about 18 cents ... the commons would then carry a value of$ 7.54. Ex divvy date tomorrow so TD adjusts the value of the commons as the open tomorrow. 
SO the premium after distributions on the common shares would be about $1.98 at the close today. That works out to  about 26%.

[mouserman]

OOps kind of confusing there. After distributions the premium on the commons would be $2.18 and that works out to  28.9% ... before distributions the commons premium would be  almost 2$ exactly. That premium would be less of course @ 25.9%

[EdPaquette]

Seems ripe for an overnight offering.

[navgod]

My bet is next week -- have been building a short position in anticipation. Pref must stay above par.