MONTREAL, March 20, 2015 /CNW Telbec/ - Global Diversified Investment Grade Income Trust II (the "Trust") announces an estimated net asset value ("NAV") per unit as at March 15, 2015 of $0.24. The NAV takes into account the impact of the credit event notices received from Deutsche Bank A.G., Canada Branch ("DB"), as disclosed in the press release of November 21, 2014.
The NAV is equal to the aggregate value of the assets less the aggregate value of the liabilities. The assets of the Trust consist mainly of cash.
In view of the withholding by DB of the monthly premium payments on the swap as indicated in the press release of March 16, 2015 together with the reduction of the monthly interest payment to be received further to the renewal on March 2, 2015 of the term deposit note as press released on March 5, 2015, the revenues of the Trust will be insufficient to cover any monthly distributions. Accordingly, the Trust will suspend until further notice all future distributions to unitholders.
About the Trust
The Trust 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.
SOURCE GLOBAL DIVERSIFIED INVESTMENT GRADE INCOME TRUST II
Louis Arteau : 514-394-7563; http://info.fbn.ca/trusts
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