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Global Diversified Investment Grade Income Trust II GIIZF

Global Diversified Investment Grade Income Trust II is a closed-end income trust. The company provides an economic interest in an equity tranche of a credit default swap agreement. It offers services such as portfolio management, financial planning, tax planning, banking solutions, insurance products and annuity, and complementary services among others.


GREY:GIIZF - Post by User

Global Diversified Investment Grade Income Trust II > someone got the news on friday
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Comment by smithgeeon Nov 25, 2014 5:16am
315 Views
Post# 23160710

RE:RE:someone got the news on friday

RE:RE:someone got the news on friday
timvestor wrote: I was reading the press release but I'm not sure if I understand, did some of the debt vehicles they hold fail? It appears there were "loss events" in numerous holdings.

I've been in and out of this one a few times, maybe another opportunity coming if they can still meet distributions...


Very strange NR ... 

Distribution

Moreover, the financial contract allows DB to withhold the payments corresponding to such defaulted reference obligations, until the final loss is determined, thus resulting in a reduction of the distributions to the trust and consequently to the unitholders. The full impact of the credit events on the future distributions is currently unknown.

Determination of final loss

The mechanism of the determination of final loss is such that it may take up to 720 days following the receipt of the credit event notices.

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