Tue, August 30, 2011
Mon, August 29, 2011
Sun, August 28, 2011
Sat, August 27, 2011
Fri, August 26, 2011
Thu, August 25, 2011
Wed, August 24, 2011
Tue, August 23, 2011
Mon, August 22, 2011
Fri, August 19, 2011
Thu, August 18, 2011
Wed, August 17, 2011
Tue, August 16, 2011
Mon, August 15, 2011
Sun, August 14, 2011
[ Sun, Aug 14th 2011 ]: Market Wire
Sales Increase by 816%
Sat, August 13, 2011
Fri, August 12, 2011
Thu, August 11, 2011
Wed, August 10, 2011
[ Wed, Aug 10th 2011 ]: Market Wire
Bradesco APIMEC-Treffen 2011

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

  Copy link into your clipboard //business-finance.news-articles.net/content/201 .. price-for-the-2011-annual-redemption-option.html
  Print publication without navigation Published in Business and Finance on by Market Wire
          🞛 This publication is a summary or evaluation of another publication

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.

The highlights of the enhanced disclosure and tendering procedures are as follows:

  • The annual redemption date for 2011 is August 31, 2011.

  • The annual redemption price will be announced by press release on August 29, 2011 and posted on SEDAR at [ www.sedar.com ]and on the web site [ info.fbn.ca/trusts ].

  • Unitholders will have until 4:00 p.m. EDT on August 31, 2011 to tender their Units or withdraw their Units tendered under the 2011 annual redemption option.

  • These measures have been established following agreements with Deutsche Bank A.G., Canada Branch ("Deutsche Bank") and National Bank of Canada ("NBC") to provide the Trust with firm bids for the unwind of the Financial Contract and the Permitted Investments.

  • Each Friday until Friday August 26, the Trust will press release the indicative unwind price on that day based on the market conditions as of the prior day.

Please refer to the August 8, 2011 press release of the Trust for a detailed discussion on the tendering procedures.

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.