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:
|Record Date||Payable Date|| Total Distributions
declared or paid
| TSX Closing Price
per unit on
June 18, 2012
|GII.UN||$0.018||June 29, 2012||July 17, 2012||$0.126||$0.88|
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.
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