City of London Investment Trust PLC Net Asset Value(s) (5291B)
June 02 2023 - 7:43AM
UK Regulatory
TIDMCTY
RNS Number : 5291B
City of London Investment Trust PLC
02 June 2023
Trust Name THE CITY OF LONDON INVESTMENT TRUST PLC
Legal Entity Identifier 213800F3NOTF47H6AO55
NAV Details As at close of business on 1 June 2023, the unaudited
net asset value per share calculated in accordance
with the AIC formula (including current financial
year revenue items) was 388.7p and the net asset
value per share with debt marked at fair value
was 394.5p.
As at close of business on 1 June 2023, the unaudited
net asset value per share (excluding current
financial year revenue items) was 384.8p and
the net asset value per share with debt marked
at fair value was 390.6p.
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, Wendy King
please call: Janus Henderson Investors
Telephone: 020 7818 1818
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END
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June 02, 2023 07:43 ET (11:43 GMT)
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