City of London Investment Trust PLC Net Asset Value(s)
18 July 2024 - 8:22PM
RNS Regulatory News
RNS Number : 9582W
City of London Investment Trust PLC
18 July 2024
Trust Name
|
THE CITY OF LONDON INVESTMENT TRUST
PLC
|
Legal Entity Identifier
|
213800F3NOTF47H6AO55
|
NAV Details
|
As at close of business on 17 July
2024, the unaudited net asset value per share calculated in
accordance with the AIC formula (including current financial year
revenue items and excluding shares held in treasury) was 430.7p and
the net asset value per share with debt marked at fair value was
435.9p.
As at close of business on 17 July
2024, the unaudited net asset value per share (excluding current
financial year revenue items and shares held in treasury) was
425.1p and the net asset value per share with debt marked at fair
value was 430.3p.
Debt marked at fair value is the
Company's estimate of the "fair value" of its senior secured notes.
The current estimated fair value of the Company's senior secured
notes is based on a discount rate calculated using the redemption
yield of the relevant existing UK Gilt plus a credit spread
determined by the month-end difference in redemption yields between
the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the
ICE BofAML 5-10 Year UK Gilt Index for the 4.53% senior secured
2029 notes, and the spread between the redemption yield of the ICE
BofAML 15+ Year A Sterling Non-Gilt Index and the ICE BofAML 15+
Year UK Gilt Index for the 2.67% senior secured 2046 notes and the
2.94% senior secured 2049 notes. The discount rate is calculated
and updated monthly and applied daily to determine the Company's
published fair value NAVs. In addition, evidence of issues in the
private placement market may be taken into consideration where
spreads significantly diverge from those in the public
market.
|
For further information, please
call:
|
Wendy King
Janus Henderson Investors
Telephone: 020 7818 1818
|
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