Net Asset Value(s)

RNS Number : 9488I

City of London Investment Trust PLC

06 April 2020

 

Trust Name	THE CITY OF LONDON INVESTMENT TRUST PLC
Legal Entity Identifier	213800F3NOTF47H6AO55
NAV Details	As at close of business on 3 April 2020, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 301.1p and the net asset value per share with debt marked at fair value was 298.4p. As at close of business on 3 April 2020, the unaudited net asset value per share (excluding current financial year revenue items) was 298.1p and the net asset value per share with debt marked at fair value was 295.5p. The estimated fair value of the Company's two senior secured notes was calculated using a discount rate based on the redemption yield of the relevant existing reference UK gilt plus a suitable estimated credit spread. As of 3 April 2020 the methodology for determining the credit spread has changed and is now based on the spread between the redemption yield of the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the redemption yield of 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 redemption yield of the ICE BofAML 15+ Year UK Gilt Index for the 2.94% senior secured 2049 notes. The discount rate will be calculated and updated at each month end and applied daily to determine the Company's published fair value NAVs. It is estimated that the new method of calculating the spread has increased the 3 April 2020 published fair value NAV (including current financial year revenue items) by approximately 1.0%.
For further information, please call:	Wendy King Janus Henderson Investors Telephone: [phone]

 

END

 

 

NAVZQLFBBZLXBBL