Global Diversified Investment Grade Income Trust - Indicative Unwind Price for the 2012 Annual Redemption Option
MONTREAL, Aug. 27, 2012 /CNW Telbec/ - Global Diversified Investment Grade Income Trust ("Global DIGIT" or the "Trust") (TSX: DG.UN) announces today an indicative unwind price of $6.40 per unit as at August 27, 2012 against a closing market price of $5.00 today. The actual unwind price to be announced before the opening of markets on August 30, 2012 could be significantly different from this indicative price depending on variations in market conditions and the occurrence of any credit default within the portfolios during that period.
On August 3, 2012, the Trust issued a press release describing enhanced disclosure and tendering procedures for the 2012 annual redemption option of the Trust's Units. Those measures have been put in place to assist Unitholders in deciding whether or not to participate in the redemption option. Please refer to the August 3, 2012 press release of the Trust for a detailed discussion on the tendering procedures.
The annual redemption date for 2012 is August 31, 2012, and pursuant to the special measures announced on August 3, 2012 in respect of this year's annual redemption, Unitholders will have until 4:00 p.m. EDT on August 31, 2012 to tender Units or withdraw Units tendered under the 2012 annual redemption process. The payment date for Units redeemed will be September 17, 2012.
The board of directors of the Trustee of the Trust makes no recommendation regarding whether Unitholders should continue to hold their Units, sell their Units in the market, or tender their Units for redemption under the annual redemption. These are determinations that Unitholders should make in consultation with their own financial and tax advisors.
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