Regular Monthly Distribution, Special Distribution and Net Asset Value as at November 15, 2013 Français
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:
| Trading Symbol |
Distribution Amounts (per unit) |
Record Date | Payment Date | Distributions Declared or Paid in 2013 (all capital distributions) |
TSX Closing Price Per Unit on November 19, 2013 |
| DG.UN | $0.08 | November 29, 2013 | December 13, 2013 | $0.404 | $8.51 |
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 approximately 1.22%.
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 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
Louis Arteau : 514-394-7563
http://info.fbn.ca/trusts
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