TIDMCTY

RNS Number : 1473O

City of London Investment Trust PLC

27 January 2023

 
 Trust Name      THE CITY OF LONDON INVESTMENT TRUST 
                  PLC 
 Legal Entity    213800F3NOTF47H6AO55 
  Identifier 
 NAV Details     As at close of business on 26 January 
                  2023, the unaudited net asset value 
                  per share calculated in accordance 
                  with the AIC formula (including current 
                  financial year revenue items) was 
                  406.4p and the net asset value per 
                  share with debt marked at fair value 
                  was 411.9p. 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 26 January 
                  2023, the unaudited net asset value 
                  per share (excluding current financial 
                  year revenue items) was 406.4p and 
                  the net asset value per share with 
                  debt marked at fair value was 411.9p. 
 
                  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 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     Wendy King 
  information,    Janus Henderson Investors 
  please call:    Telephone: 020 7818 1818 
 

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END

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(END) Dow Jones Newswires

January 27, 2023 08:49 ET (13:49 GMT)

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