MCI March Preliminary Net Asset Value
Springfield -- 04/05/2012 --
Babson Capital Corporate Investors (the "Trust") reports that its March 31, 2012 preliminary net asset value ("NAV") is $247,683,642 or $12.95 per share based on 19,125,136 shares outstanding. As of March 31, 2011, the Trust reported NAV of $247,002,115 or $13.03 per share based on 18,952,186 shares outstanding. As of December 31, 2011, net assets were $241,943,534 or $12.69 per share based on 19,070,210 shares outstanding. All figures other than the December 31, 2011 figures are unaudited, and the March 31, 2012 figures are subject to ratification by the Trust’s Board of Trustees.
The Trust’s net investment income for the quarter ended March 31, 2012 was $6,071,338 or $0.32 per share, of which approximately $421,611 or $0.02 per share represented income due to nonrecurring items, compared to $6,390,431 or $0.34 per share for the corresponding quarter last year. For the previous quarter ended December 31, 2011, net investment income was $4,856,948 or $0.25 per share. During the quarter ended March 31, 2012 net capital gains of $2,461,727 or $0.13 per share were realized by the Trust, compared to net capital losses of $334,724 or $0.02 per share for the quarter ended March 31, 2011. For the previous quarter ended December 31, 2011, net capital losses were $75,567 or $0.00 per share.
The market price of Babson Capital Corporate Investors as of March 31, 2012 was $16.61, which equates to a 28.26% premium over the March 31, 2012 NAV per share. The Trust’s average quarter-end premium for the 3, 5 and 10-year periods was 12.86%, 13.57% and 11.06%, respectively.
About Babson Capital Corporate Investors
Babson Capital Corporate Investors is a closed-end management investment company advised by Babson Capital Management LLC. Its shares are traded on the New York Stock Exchange under the trading symbol ("MCI").
Per share amounts are rounded to the nearest cent.
Cautionary Notice: Certain statements contained in this press release may be "forward looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date in which they are made and which reflect management’s current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results to differ materially. These statements are subject to change at any time based upon economic, market or other conditions and may not be relied upon as investment advice or an indication of the fund's trading intent. References to specific securities are not recommendations of such securities, and may not be representative of the fund's current or future investments. We undertake no obligation to publicly update forward looking statements, whether as a result of new information, future events, or otherwise.