City of London Investment Trust PLC Net Asset Value(s)
16 August 2024 - 9:16PM
RNS Regulatory News
RNS Number : 8002A
City of London Investment Trust PLC
16 August 2024
Trust Name
|
THE CITY OF LONDON INVESTMENT TRUST
PLC
|
Legal Entity Identifier
|
213800F3NOTF47H6AO55
|
NAV Details
|
As at close of business on 15 August
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 437.1p and
the net asset value per share with debt marked at fair value was
442.1p. As the Company's shares are now ex-dividend, the dividend
has been deducted from the net asset value.
As at close of business on 15 August
2024, the unaudited net asset value per share (excluding current
financial year revenue items and shares held in treasury) was
434.3p and the net asset value per share with debt marked at fair
value was 439.3p.
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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