MONTREAL, Nov. 19, 2013 /CNW Telbec/ - Global Diversified Investment
Grade Income Trust ("Global DIGIT") declares the following monthly
distributions composed of a regular distribution of $0.027 per unit and
a special distribution of $0.053 per unit:
Paid in 2013
TSX Closing Price Per
November 19, 2013
November 29, 2013
December 13, 2013
The special distribution of $0.053 per unit represents a portion of the
excess cash of Global DIGIT which is deemed not necessary for the
continuation of the current operations.
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
Global DIGIT announces that the net asset value ("NAV") per unit as of November 15, 2013 was estimated to be $9.27. The
difference between the unwind price of $8.88 per unit on August 30,
2013 and the current NAV of $9.27 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
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 Trust
For further information:
Louis Arteau : 514-394-7563