MONTREAL, June 18, 2012 /CNW Telbec/ - Global Diversified Investment
Grade Income Trust II ("Global DIGIT II") declares the following
monthly distribution consisting of a partial capital reimbursement:
declared or paid
TSX Closing Price
per unit on
June 18, 2012
June 29, 2012
July 17, 2012
In accordance with the press release issued on December 12, 2011
relating to the settlement of the credit events notified in
November 2009 to Global DIGIT II and the final recovery level of zero
for the related reference obligations, distributions will be
approximately equal to the five-year government of Canada bond yield,
as at March 2010, less a spread of 0.4% to 1%, or $0.015 to $0.02 per
unit. Taking into account the total loss of the credit default swaps A
and B as disclosed in the December 12, 2011 press release, only credit
default swap C remains in the assets of Global DIGIT II.
Global DIGIT II also announces that the net asset value ("NAV") per unit
as of June 15, 2012 was estimated to be $0.47.
The NAV on a particular date is equal to the aggregate value of the
assets of Global DIGIT II, less the aggregate value of its liabilities.
Substantially all of the assets of Global DIGIT II consist of cash and
one credit default swap entered into with Deutsche Bank A.G. (Canada
Branch) and the related collateral.
About Global DIGIT II
Global DIGIT II provides an economic interest in an equity tranche of a
credit default swap agreement in respect of portfolios of residential
mortgage-backed securities, commercial asset-backed and mortgage-backed
securities, consumer asset-backed securities, structured exposures to
mortgage-backed and asset-backed and corporate securities.
SOURCE GLOBAL DIVERSIFIED INVESTMENT GRADE INCOME TRUST II
For further information:
François Rivard: 514-879-6405