Monthly Distribution and Net Asset Value as at September 15, 2013
MONTREAL, Sept. 18, 2013 /CNW Telbec/ - Global Diversified Investment Grade Income Trust ("Global DIGIT") declares the following monthly distribution:
|Record Date||Payment Date||
Paid in 2013
TSX Closing Price Per
September 18, 2013
|DG.UN||$0.027||September 30, 2013||October 15, 2013||$0.297||$8.54|
One objective of Global DIGIT is to provide unitholders with varying monthly distributions based on the applicable one-month bankers' acceptance rate plus 2.00%. The current bankers' acceptance rate is approximately 1.22%.
Global DIGIT announces that the net asset value ("NAV") per unit as of September 15, 2013 was estimated to be $9.05. The difference between the unwind price of $8.88 per unit on August 30, 2013 and the current NAV of $9.05 is essentially due to the unwind costs of the credit default swaps which were assumed by the holders who have tendered their units for redemption over the year.
The NAV on a particular date is equal to the aggregate value of the assets less the aggregate value of the liabilities. Substantially all of the assets of Global DIGIT consist of cash and three credit default swaps entered into with Deutsche Bank A.G. (Canada Branch) and the related collateral.
About Global DIGIT
Global DIGIT provides an economic interest in a mezzanine tranche of credit default swap agreements in respect of portfolios of synthetic corporate exposures, mortgage-backed securities, asset-backed securities and structured finance securities.
SOURCE Global Diversified Investment Grade Income TrustFor further information:
Louis Arteau : 514-394-7563