CTY City Of London Investment Trust Plc

TIDMCTY

RNS Number : 1244V

City of London Investment Trust PLC

05 August 2022

 
 Trust Name                 THE CITY OF LONDON INVESTMENT TRUST PLC 
 Legal Entity Identifier    213800F3NOTF47H6AO55 
 NAV Details                As at close of business on 4 August 2022, the 
                             unaudited net asset value per share calculated 
                             in accordance with the AIC formula (including 
                             current financial year revenue items) was 399.1p 
                             and the net asset value per share with debt marked 
                             at fair value was 401.0p. 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 4 August 2022, the 
                             unaudited net asset value per share (excluding 
                             current financial year revenue items) was 397.0p 
                             and the net asset value per share with debt marked 
                             at fair value was 398.9p. 
 
                             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 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 2030 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 2.94% 
                             senior secured 2049 notes. The discount rate 
                             is calculated and updated at each month-end 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,   Wendy King 
  please call:               Janus Henderson Investors 
                             Telephone: 020 7818 1818 
 
 

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August 05, 2022 07:29 ET (11:29 GMT)

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