Special and Monthly Distributions and Net Asset Value as at July 15, 2012
MONTREAL, July 17, 2012 /CNW Telbec/ - Global Diversified Investment Grade Income Trust ("Global DIGIT") declares the following special and monthly distributions consisting of partial capital reimbursements:
paid in 2012
TSX Closing Price
Per Unit on
July 17, 2012
|DG.UN||$0.054||July 31, 2012||August 15, 2012||$0.243||$4.65|
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 approximately 1.22%. The regular monthly distribution is set at $0.027 per unit. In addition to this distribution, a special distribution of an equal amount of $0.027 per unit is declared by Global DIGIT bringing the distributions payable on August 15 to $0.054 per unit, thus returning to unitholders cash deemed not needed for its current operations.
Global DIGIT announces that the net asset value ("NAV") per unit as of July 15, 2012 was estimated to be $4.96.
The NAV on a particular date is equal to the aggregate value of the assets of Global DIGIT, less the aggregate value of its 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 related collateral.
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
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