MONTREAL, Jan. 18 /CNW Telbec/ - Global Diversified Investment Grade
Income Trust II ("Global DIGIT II") declares the following monthly
distributions consisting of a partial capital reimbursement:
declared or paid
TSX Closing Price
per unit on
January 18, 2011
January 31, 2011
February 14, 2011
One of the objectives of Global DIGIT II was to provide unitholders with
a monthly distribution which, starting March 2010, would have been an
amount equal to the five-year government of Canada bond yield plus 4.0%
to 4.5%. However, in light of the amounts withheld by Deutsche Bank AG,
Canada Branch ("DB") in relation to credit events notified in November
2009 to Global DIGIT II, until the final determination of the amount of
losses from such credit events, distributions will be approximately
equal to the five-year government of Canada bond yield plus a spread of
1.10% to 1.71%, or $0.03 to $0.035 per unit.
Global DIGIT II also announces that the net asset value ("NAV") per unit
as of January 15, 2011 was estimated to be $0.23.
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
three credit default swaps entered into with DB and the related
About Global DIGIT II
Global DIGIT II provides an economic interest in an equity tranche of
credit default swap agreements in respect of portfolios of
mortgage-backed securities, asset-backed securities, structured finance
securities and synthetic corporate exposures.
SOURCE GLOBAL DIVERSIFIED INVESTMENT GRADE INCOME TRUST II
For further information:
François Rivard: 514-879-6405