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Global Diversified Investment Grade Income Trust - Indicative Unwind Price for the 2011 Annual Redemption Option

^{Published on 2011-08-19 04:06:33 - Market Wire}
 

MONTREAL, Aug. 19, 2011 /CNW Telbec/ - Global Diversified Investment Grade Income Trust ("Global DIGIT" or the "Trust") (TSX: DG.UN) announces today an indicative unwind price of $6.00 as at August 18, 2011 against a closing market price of $5.04. This price is calculated according to pre-determined market parameters.  The actual unwind price to be announced on August 29, 2011 could be significantly different from this early indication. On August 8, 2011, the Trust press released enhanced disclosure and tendering procedures for the 2011 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.  As described in Schedule A to such press release, one of the conditions to the calculation of the bid according to pre-determined conditions was a variation of less than 7% of the pre-determined level of the composite benchmark. As of August 18, this variation stood at 6.51%. If on August 29, 2011, this variation exceeds 7%, the bid will not be based on the composite benchmark but rather under the existing annual redemption procedure.

No recommendation

The board of directors of the Trustee of the Trust makes no recommendation regarding whether any Unitholder 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.