City of London Investment Trust PLC Net Asset Value(s) (9748B)

TIDMCTY

RNS Number : 9748B

City of London Investment Trust PLC

07 June 2023

 
 Trust Name                 THE CITY OF LONDON INVESTMENT TRUST PLC 
 Legal Entity Identifier    213800F3NOTF47H6AO55 
 NAV Details                As at close of business on 6 June 2023, the unaudited 
                             net asset value per share calculated in accordance 
                             with the AIC formula (including current financial 
                             year revenue items) was 395.9p and the net asset 
                             value per share with debt marked at fair value 
                             was 401.7p. 
 
                             As at close of business on 6 June 2023, the unaudited 
                             net asset value per share (excluding current 
                             financial year revenue items) was 391.8p and 
                             the net asset value per share with debt marked 
                             at fair value was 397.6p. 
 
                             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: [phone] 
 

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(END) Dow Jones Newswires

June 07, 2023 06:19 ET (10:19 GMT)